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The Latest Breaking News from fintech

Chime refunds $977 amid Sun-Times questions, as neo-bank apps face thousands of consumer complaints

Roderick Woodson of Morgan Park saw $997 mysteriously drained from his Chime Financial account in minutes. The company restored his money after a Sun-Times reporter asked: What happened?

Chicago Sun-Times

3 Fintech Stocks to Add to Your Watchlist This Fall and 1 to Avoid

The fintech industry has grown significantly over the past few years due to the pandemic-driven accelerated pace of digitization. Continued digitization of businesses and financial transactions should keep driving the industry’s growth. Thus, investors could add promising fintech stocks Visa (V), AssetMark Financial (AMK), and Regional Management (RM) to their…

StockNews.com

UP Fintech Flexes Global Expansion Muscle With NYSE Membership

Key Takeaways: UP Fintech’s TradeUP Securities unit has become a member of the New York Stock Exchange, giving its customers direct access to the bourse to enable faster trades at lower costs

Benzinga

From analysis to the latest developments in health,
read the most diverse news in one place.

1 Stock That Is a Hard Pass for the Smart Investor

Shares of fintech company Affirm Holdings (AFRM) have plummeted more than 75% in price year-to-date. The company has been dealing with economic and credit cycle headwinds, which impacted its financials. Its profitability is expected to be significantly affected by shrinking consumer spending. Hence, we think investors should stay away from…

StockNews.com

RBI wants fintech operators to follow rules of game: Shaktikanta Das

MUMBAI: Warning against mushrooming of lending apps and their usurious recovery prices, the Reserve Bank said it is not interested in penalizing operators or stifling innovation but wants them to follow the rules of the game, governor Shaktikanta Das said on Tuesday.

The Times of India

Fintech industry needs to work relentlessly on safety to uphold people's trust: PM Modi

Prime Minister Modi said the fintech domain in India has earned goodwill by being an enabler of inclusion, and there is a need for continued focus to empower the poorest of the poor by taking quality financial services to them.

The Hindu

Why the US housing regulator is looking into fintech - Roll Call

Jason Cave, deputy director of the FHFA talks fintech and what the agency’s new office for innovation might mean for mortgage markets.

Roll Call

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Should You Buy SoFi Stock Now or Wait?

Shares of financial services company SoFi Technologies (SOFI) have plummeted more than 60% in price year-to-date, aggravated by the recent FedEx warning spurring recession fears and causing a broad sell-off in fintech stocks. However, given Biden’s announcement on lifting the student loan repayment moratorium, is it wise to buy the…

StockNews.com

Capita shares surge on £150 million fintech sale

It’s the latest effort by Capita to slim down operations and pay off large sums of company debt

Evening Standard

ASPS touts SCB's strong outlook

Siam Commercial Bank (SCB), Thailand's oldest lender, is viewed as an outstanding stock to watch given its fintech business expansion and high-yield lending services, according to Asia Plus Securities (ASPS).

Bangkok Post

How Tide’s determined rise cost UK taxpayers millions

The fintech gained a wave of new customers after signing up to the Covid bounce back scheme, but now a third of the loans it made have gone bad

The Guardian - UK

All in the Family: Cash-strapped ZhongAn Taps Chairman's Ties to Fund a Money-losing Unit

Key Takeaways: Sinolink will buy about 156 million new shares in ZhongAn’s overseas business development unit, ZhongAn International, for about $103 million The deal comes in a difficult year for ZhongAn, whose own cash holdings are dwindling By Warren Yang

Benzinga

Green Check Verified Acquires PayQwick To Boost Financial Ecosystem And Help Cannabis Businesses

Green Check Verified (GCV), a leading fintech provider of compliant cannabis solutions and services to financial institutions, announced deal terms, to acquire PayQwick, which has been servicing underbanked cannabis businesses with payments and lending since 2015. The deal was unanimously approved by both boards.

Benzinga

LendInvest opens new office in Glasgow

Property finance firm opens its first site outside of London and is looking for new staff to fill it

Insider UK

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The Times of India

With inflation soaring, reliance on credit to meet monthly expenses has increased for 62% in India: Survey

NEW DELHI: Soaring inflation in India has pushed up expenses sharply. A survey by fintech major BankBazaar said nearly 62% of people have been relying on credit to meet their daily expenses, while savings have gone down for almost 80% of India's salaried class.

Asharq Al-Awsat

Saudi Central Bank Facilitates Entry of Fintech Companies into Kingdom’s Market

The Saudi Central Bank (SAMA) on Wednesday announced that it has updated the Framework of its Regulatory Sandbox. The move is part of its efforts to achieve several national strategic goals by promoting the regulatory sandbox's involvement in the Financial Sector Development Program (FSDP), a key objective of the Saudi…

StockNews.com

1 Fintech Stock to Avoid Right Now and 2 to Buy

Continued digitization of businesses and financial transactions would drive the fintech industry’s growth. However, economic uncertainties and geopolitical headwinds have weighed heavily on investors’ sentiment surrounding fintech stocks. So, this may be the right time to offload fundamentally weak fintech stock Block (SQ) and load up promising industry participants Everi…

Bangkok Post

Grab, Singtel join Singapore’s digital bank battle next week

Grab Holdings Ltd and Singapore Telecommunications Ltd plan to roll out a banking app next week, joining tech giants like Jack Ma’s Ant Group Co in taking advantage of the country’s fintech liberalisation.

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Birmingham Post

New coding academy launched to address FinTech skills gap in Wales

The programme has already helped 28 people to become front and back-end developers including ex-PGA golfer Richard King

Birmingham Post

County Durham's Growth Capital Ventures leads £695,000 investment into fintech firm Finexos

Finexos has received the funding to drive its platform that aims to improve access to credit for millions of people

StockNews.com

Does Fintech Darling Affirm Holdings Still Deserve a Spot in Your Portfolio?

Fintech firm Affirm Holdings (AFRM) became one of the investor darlings during the height of the pandemic thanks to the remote lifestyles. However, the stock is trading more than 80% below its 52-week high. Is it wise to add AFRM to your portfolio as the company reported better-than-expected earnings and…

Benzinga

Investment Banks Are Now Turning To 'Infrastructure As A Service': Here's A Major Player In The Sector And How It Works

Benzinga is hosting its Global Fintech Awards at New York City’s Pier Sixty, Dec. 8, 2022.

The Times of India

Paytm CEO Vijay Shekhar Sharma faces biggest test since IPO dud

NEW DELHI: The billionaire founder of Paytm faces a crucial test of investor confidence on Friday, when shareholders will decide whether they want him at the helm of a fintech pioneer that made one of the worst debuts in history.

Benzinga

If Crypto Is 'Too Big To Fail,' Secure Infrastructure Is Needed, Prime Trust Exec Says

Benzinga, a media and data provider bridging the gap between retail and institutional investors, is bringing back its annual Global Fintech Awards event to New York City on Dec. 8, 2022.

The Times of India

Razorpay buys Ezetap for $150 million

BENGALURU: Indian fintech unicorn Razorpay has acquired payments platform Ezetap in a deal that values the latter at around $150-200 million. It is Razorpay's largest acquisition so far. It's largely a cash deal, with a small equity portion.

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