Hours into the Russian invasion of Ukraine, the foreign ministers of Estonia, Latvia, and Lithuania encouraged “disengaging Russia from SWIFT,” the international payments system. Polish and UK officials echoed these calls as well.
Read MoreThrough a partnership with DiversiFi, Opera users on Android will be able to make cheap and instant crypto transactions within their mobile browser wallet. The Layer 2 swapping feature is 100 times cheaper than Ethereum Layer 1.
Read MoreIn a settlement with regulators, BlockFi agreed to register with the SEC and pay $100M in federal and state fines. It plans to launch an SEC-approved crypto interest-bearing security.
Read MoreFinancial regulators told banks that they must prove that the use of AI in loan applications does not discriminate against minorities. The move follows growing concerns over systeming racism in banking.
Read MoreThrough a partnership with fintech Buy It Mobility Networks Inc. (BIM), Discover will let merchants accept payments directly from consumers’ bank accounts. The feature is popular in Asian markets.
Read MoreLaunched yesterday, the feature lets users split bills evenly or in customized amounts through Facebook Pay. Facebook had publicly tested the feature for two months.
Read MoreMeta, the company formerly known as Facebook, reported disappointing fourth-quarter earnings as well as its first-ever decline in users. The company’s market capitalization tanked—sliding from $898.5B to $668.4B.
Read MoreIn the coming months, Apple will let iPhones accept credit cards without additional hardware. By turning its smartphones into POS systems, Apple is placing itself in direct competition with platforms like Square.
Read MoreExpense-management giant Expensify announced the launch of a card exclusively for CPAs and accounting firms.
Read MoreYouTube CEO Susan Wojcicki announced that the video platform is looking into NFT features for its creators. The Google-owned company joins Twitter and Instagram in exploring services related to the crypto-based financial system.
Read MoreIn its earnings call on Friday, JPMorgan announced that it will spend $1B per month in 2022 to move its operations to the cloud.
Read MorePayment-processing platform Stripe announced a five-year contract with Ford Motor Company: an effort to revamp the automotive giant’s e-commerce strategy.
Read MoreOver the past year, more than 40 Microsoft employees working on augmented-reality technologies have been poached by Meta, which has poured billions into metaverse initiatives.
Read More“What is your customer acquisition strategy?” is a typical question for startups. And many of the 40 companies pitching in eight categories during the 13th annual SXSW Pitch Event showed they had a clear roadmap for attracting ideal customers to grow their businesses.
Read MoreDevon Sherman, Senior Managing Director of MassChallenge FinTech and HealthTech
Read MoreThe Financial Revolutionist is weekly newsletter and blog focused on the torrid pace of financial innovation. Today, thanks to the exponential rate of technological change, explosion in global trade and new regulations ushered in by the Great Financial Crisis, a new financial revolution is under way. In this battle, virtually every aspect of the greater financial services sector is subject to rigorous challenge. With the Financial Revolutionist, we are aspiring to create a boots-on-the-ground and highly opinionated assessment of important financial innovation developments in the past week.
