NEWS – Page 11 – Fintech First

Fool’s gold: Glint Pay goes into administration

Glint, a London-based fintech startup that enables users to store, spend and save their wealth in gold, has gone into administration, leaving customers high and dry.

The UK’s slow-burn £50bn banking scandal

Barclays and Lloyds on Monday became the latest lenders to admit that the cost of compensating customers for mis-sold payment protection insurance was much worse than anticipated

Africa’s biggest bank is going after the continent’s informal markets

In a deal announced on Tuesday (Aug. 27), Standard Bank invested $4 million into Nomanini, a fintech firm that connects banks and distributors to informal merchants.

Do you take cards? Payment cards still rule in a cashless society

As the UK fast progresses towards a cashless society, consumers have made it clear they are not prepared to give up their bank cards.

Stripe, the world’s most valuable private fintech company, is getting into lending

Stripe, valued at $22.5 billion after its last funding round, announced the launch of a lending arm called Stripe Capital on Thursday.

Banks and shops roll out new anti-fraud measures

Lenders and credit card companies are gradually starting to roll out new measures to reduce card fraud known as Strong Customer Authentication (SCA). On Monday, John Lewis alerted customers to potential changes they might see when making payments in its stores or via its website. A number of banks and credit card providers have also published advice.

This start-up lets cryptocurrency firms know when terrorists are trying to raise money

Elliptic raised $23 million in a funding round led by Japan’s SBI Holdings. Its software is used to investigate criminal activity on bitcoin’s digital ledger. The firm is opening offices in Singapore and Japan as part of a push into Asia.

Will banks soon check it’s you shopping simply by the way you hold your phone? Looming crackdown on online fraud to change how we shop on the internet

A major crackdown on online fraud launches in less than two weeks' time – and it will herald radical changes to the way we shop online.

Consumers could be winners as Singapore shakes up its digital banking sector

Singapore is about to shake up its banking sector for the first time in two decades that would allow technology players and non-banking firms to challenge traditional lenders. The disruption could be a win-win situation for consumers, according to marketing information services company J.D. Power.