fintech - Tech News from Simmons Systems (Page 7)

Tech News from Simmons Systems

fintech

A collection of 125 posts

Stampli Secures $25 Million to Expand AI-Powered Invoice Management

Mountain View-based Stampli raises a $25 million Series B round to grow its collaborative, AI-driven invoice management platform. The software connects departments to streamline the procure-to-pay process without forcing companies to change their payment providers.

Major Financial Firms Abandon Facebook's Libra Cryptocurrency Project

Visa, Mastercard, eBay, and Stripe drop out of Facebook's Libra project just days before the consortium plans to sign its official charter. These high-profile departures threaten the cryptocurrency's core identity as an independent, broad-based federation.

PayPal Becomes First Major Firm to Abandon Facebook's Libra Project

PayPal officially withdraws from the Libra Association, dealing a significant early blow to Facebook's cryptocurrency initiative. The departure highlights growing regulatory concerns surrounding the ambitious project.

Brex Launches Cash Management Account to Challenge Traditional Banks

Fintech startup Brex introduces Brex Cash, a digital cash management account that aims to replace traditional business bank accounts for startups. The new product offers no-fee transactions, points rewards, and a 1.6% yield on deposits.

Facebook Acquires AI Customer Service Startup to Support Calibra Wallet

Facebook purchases Israeli startup Servicefriend to bolster the customer service capabilities of its upcoming Calibra digital wallet and Libra cryptocurrency.

Amazon Expands in India While Spendesk and Informatica Back AI Startups

Amazon opens a massive new campus in Hyderabad to compete with Walmart in India's growing e-commerce market. Meanwhile, Spendesk raises $38 million for spend management and Informatica invests in AI startup GreenBay Technologies.

Uber Surveys Drivers About Small Loans Amid Fintech Hiring Spree

Uber is exploring a new financial product for drivers, sending in-app surveys about small loans under $1,000. This move follows a recent hiring spree of over 100 fintech workers in New York.

Profitable Fintech Credit Sesame Raises $43M Ahead of Planned IPO

Credit Sesame secures $43 million in funding to enhance its AI algorithms as it prepares for a public listing. The profitable credit management platform aims to reach a $1 billion valuation before its IPO.

Venmo Introduces Fee-Based Instant Transfers Direct to Bank Accounts

Venmo now allows users to send funds directly to their bank accounts within minutes for a 1% fee. The update provides a faster alternative to the standard one-to-three day transfer process.

Robinhood Wins U.K. Regulatory Approval to Challenge Local Fintechs

Robinhood receives authorization from the Financial Conduct Authority to operate as a broker in the U.K. The Silicon Valley trading app gears up for a London launch to compete against local rivals like Freetrade and Revolut.

Lawmakers Grilled Facebook's Crypto Chief Over Libra Launch Plans

Facebook executive David Marcus faces intense scrutiny from the House Financial Services Committee regarding the company's planned Libra cryptocurrency. Lawmakers demand regulatory guarantees before the tech giant moves forward with the digital currency project.

Lawmakers Demand Halt to Facebook's New Libra Cryptocurrency

Congress reacts angrily to Facebook's unveiled Libra cryptocurrency, demanding a moratorium and hearings. The digital currency faces immediate regulatory pushback over data privacy and oversight concerns.

Facebook Introduces Libra as a Direct Competitor to Bitcoin

Facebook unveils Libra, a new digital currency designed to be more stable and accessible than traditional cryptocurrencies like Bitcoin. The social media giant aims to make global financial transactions seamless for its billions of users.

Facebook Unveils Libra Cryptocurrency Backed by Major Corporations

Facebook reveals plans to launch Libra, a new digital currency designed for global use. The project draws immediate scrutiny from lawmakers and financial regulators.

Facebook Unveils Libra Cryptocurrency to Disrupt Global Payments

Facebook introduces Libra, a stable cryptocurrency backed by a reserve fund, launching next year across its messaging platforms. The digital currency aims to simplify online payments and offer low-cost money transfers for unbanked populations.