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Evolve Bank & Trust confirmed it was the victim of a cyber attack and that customer data had been posted on the dark web, less than two weeks after the Arkansas-based lender was ordered by regulators to improve its risk management and get approval before entering into any new partnerships. The Russian-linked hacker group LockBit 3.0 on…

The financial services industry has worked for years to create frictionless payments. Now it may be necessary to add friction back into the mix to combat fraud.  “Instant payments actually has a lot more fraud connected,” Jenny Winther, head of payment schemes at Sweden-based Handelsbanken, said today during Volante’s “From mandates to modernization: Payment as…

London-based B2B core banking platform XYB named Derek Joyce as its chief executive on May 30.  Joyce previously worked at American Express, Klarna, Bread and Alloy and brings 20 years of experience to XYB, according to a company release. Joyce “actually came in and built a business plan and fundraised in the background” before his…

Things we’re reading today include … MiCA laws come into effect in Europe — Here’s what you need to know (cointelegraph.com) ChatGPT-4o builds an ideal $1,000 crypto portfolio for the second half of the year (finbold.com) Digital bank tops list of 100 fastest-growing British businesses | The Independent LoopFX lands £2.6m investment from Augmentum Fintech……

I attended a meeting this week presenting a variety of startups and their ideas. All of them were great, but one stood out for me: Fairwill. Obviously playing on the word farewell, Fairwill provides an exit policy for humans … as in death specialists. It sounds morbid but there’s only two certainties in life: death……

Financial institutions can look to ISO 20022 standard for payments data to identify patterns in payments and transactions to more easily flag fraud, Jenny Winther, head of payment schemes at Sweden-based Handelsbanken, said today during Volante’s “From mandates to modernization: Payment as a Service strategies for European banks” webinar.  According to Winther, ISO 20022 data…

Fintech funding has hit a four-year low, but venture capitalists believe that it will slowly return to a pre-pandemic normal, Carey Ransom, managing director of venture capital firm BankTech Ventures, told Bank Automation News.  “Things got very frothy in 2021 and 2022 due to the liquidity in the market,” Ransom said. “It was a zero-rate…

The main blog discussions this week include … A financial offer to die for I attended a meeting this week presenting a variety of startups and their ideas. All of them were great, but one stood out for me: Fairwill. Obviously playing on the word farewell, Fairwill provides an exit policy for humans … as……

Things we’re reading today include … HSBC, Nationwide and Virgin Money hit by payment issues – BBC News A fintech collapse is rippling through a small corner of the banking world (yahoo.com) Citi was money launderers’ favourite bank, US law enforcement officials say (ft.com) UAE’s Central Bank Sets New Standards with Open Finance Regulation |……