The Week in Review

The Week in Review

Friday May 4, 2018 –

Here are the new and noteworthy stories we have been following this week.

TPG, Carlyle lead over $1.9b round in Baidu’s newly spun-off finance arm

Baidu Inc. has raised more than $1.9 billion for its newly spun-off financial services division from TPG, Carlyle Group and other investors.

Nearly 80 Percent of Banks Expect Real-Time Payments and Open Banking Will Drive Payments Transformation Over Time

A new study from ACI Worldwide and Ovum reveals both real-time payments and open banking as major competitive differentiators in the future of banking

ECB designs cyber attack simulation for financial firms

The European Central Bank (ECB) has designed a new test simulating cyber attacks on banks, stock exchanges and other firms that are critical for the functioning of the financial system.

Instagram quietly launches payments for commerce

Instagram has stealthily added a native payments feature to its app for some users.

Should the Fed Create ‘FedCoin’ to Rival Bitcoin? A Former Top Official Says ‘Maybe’

A former Fed governor thinks that the Federal Reserve, or the European Central Bank or the Bank of Japan could use blockchain technology to create their own virtual currencies.

Brazil central bank liquidates Banco Neon in setback for fintech

Brazil’s central bank liquidated small lender Banco Neon SA and suspended operations of an associated tech startup.