There are a number of numbers being bandied around regarding the major slump in the fintech sector over the past two years. The latest one that I picked up on is from the Indian data intelligence firm Tracxn, stating that UK fintechs raised just $4.3bn in 2023, a sharp drop from $11.2bn in 2022, which……

Things we’re reading today include … You can apply to be CTO of a $25bn fintech right now (efinancialcareers.com) Deutsche Bank CEO says acquisitions not a ‘priority’ as Commerzbank rumors swirl (cnbc.com) US bank profits shrink on higher deposit costs, one-time charges | Reuters Fraud Reimbursement Costs Are Likely to Rise for UK Banks (fitchratings.com)……

KeyBank prioritized its investment in technology during the fourth quarter as it looks to build the bank’s franchise to ensure competitiveness.  “Our first investments are always going to be good clients and our people. And then in this world, you’ve got to continue to invest in technology,” Chief Financial Officer Clark Khayat said during today’s…

Seven years ago, I was citing the fact that 43% of the global financial system runs on a computer language no-one speaks anymore. Seven years later, PC Magazine (are PC’s still a thing?) picked up on this theme with the headline: The World Depends on 60-Year-Old Code No One Knows Anymore | PCMag … and sub-headline:……

Things we’re reading today include … Online pastor charged for ‘worthless’ crypto scam says God made him do it (cointelegraph.com) UK banks prepare for deepfake fraud wave (ft.com) Could Metro Bank be the best value stock to buy right now? | The Motley Fool UK Barclays to shrink investment bank’s share of business, CEO says……

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No Fee for Registering with FinCEN: Myth Busters! The world of financial regulations can be a labyrinth, and the question of fees pops up frequently. When it comes to registering with the Financial Crimes Enforcement Network (FinCEN), a common misconception circulates: there’s a fee involved. But relax, aspiring Money Services Business (MSB) owner, registering with…

A Card-to-Card Transfer Guide IntroductionIn an increasingly globalized world, the need for quick and reliable cross-border money transfers has never been more crucial. Visa Direct, a service by Visa, is revolutionizing the way people send money internationally. This article delves into how Visa Direct facilitates remittances, enabling customers to transfer funds from their card to…

A Card-to-Card Transfer Guide IntroductionIn an increasingly globalized world, the need for quick and reliable cross-border money transfers has never been more crucial. Visa Direct, a service by Visa, is revolutionizing the way people send money internationally. This article delves into how Visa Direct facilitates remittances, enabling customers to transfer funds from their card to…

The top five banks and thrifts have combined total assets of nearly $13 trillion as of September 30, 2023.