Friday February 15, 2019 –
Here are the new and noteworthy stories we have been following this week.
Second Measure raises $20 million to analyze companies’ sales and growth rates
Second Measure has secured $20 million in series A financing co-led by Bessemer and Goldman Sachs, with participation from Citi Ventures.
Mayor Establishes the District of Columbia Financial Services Regulatory Sandbox and Innovation Council
DC Mayor establishes the District of Columbia Financial Services Regulatory Sandbox and Innovation Council tasked with assessing the feasibility of implementing a financial services regulatory sandbox.
MetaBank® Launches Faster Payments Platform, Enabling Partners to Move Funds in Near Real-Time
MetaBank has launched its faster payments platform enabling its partners to disburse funds in near real-time.
Rapyd nabs $40M led by Stripe and GC for ‘fintech as a service,’ a single API for payments, money transfer and more
Rapyd raises $40 million in a Series B round from Stripe, General Catalyst, Target Global, IGNIA and other strategic payments and fintech companies.
Kroger Introduces Kroger Pay and Kroger REWARDS Debit Card
Kroger introduced Kroger Pay, its mobile payment solution as well a new Kroger REWARDS debit card.
Singapore’s UOB to launch digital bank in Thailand
UOB is launching its digital-only bank, TMRW in Thailand with plans to expand across southeaset Asia targeting millenials.
https://asia.nikkei.com/Business/Companies/Singapore-s-UOB-to-launch-digital-bank-in-Thailand
JP Morgan is rolling out the first US bank-backed cryptocurrency to transform payments business
JP Morgan is introducing “JPM Coin,” a digital token that will be used to instantly settle transactions between clients of its wholesale payments business.
CaixaBank rolls out facial recognition at the ATM
CaixaBank is offering customers the opportunity to use facial recognition technology rather than PIN’s to transact at it ATM’s.
https://www.finextra.com/newsarticle/33388/caixabank-rolls-out-facial-recognition-at-the-atm
Big Tech Is Coming for Big Bank Profits, Finance Regulators Warn
The Financial Stability Board in a new report outlines the dangers of ‘BigTech’ and the possibility of systemic risks to the financial services industry.
The New Way to Deregulate
Sandboxes are intended to stimulate and accelerate fintech innovation, but are they circumventing consumer protection laws and adding to risk?
Purchases With Plastic Get Costlier for Merchants—and Consumers
Visa, Mastercard, and Discover are planning an increase in interchange and other fees.
UN report dismisses fintech sandboxes in developing economies
A UN report acknowledges the benefits of fintech in supporting financial inclusiveness, but urges caution on regulatory easing and the role of sandboxes.
