In today’s international, where living spaces are regularly restrained, finding fixtures that maximizes consolation at the same time as retaining area is important. Corner sofas, with their particular layout and flexible capability, have turn out to be a popular desire for the ones seeking to optimize their residing regions. This article explores the numerous motives […] The post Space-Saving Solutions: Why Corner Sofas Are a Must-Have appeared first on TechBullion.

Amazon on Friday announced it would invest an additional $4 billion in Anthropic, the artificial intelligence startup founded by ex-OpenAI research executives.

Swedish corporate bank SEB has partnered with UK-based fintech Thought Machine to use its cloud-native Vault Core system for SEB Embedded, a new Banking-as-a-Service (BaaS) platform. This collaboration enabled the launch of Hemköp Matkonto, a current account for Swedish supermarket chain Hemköp, featuring joint account options, budget tools, and spending-linked rewards. The Hemköp Matkonto account was developed and launched within 10 months of the partnership agreement signed in December 2023. SEB Embedded plans to scale its offerings, with additional products and partnerships expected soon. SEB’s adoption of Vault Core follows its long-standing partnership with Thought Machine, which began in 2018 with SEBx, an innovation studio regarded as a precursor to SEB Embedded.

Civo, a cloud computing startup, has announced the launch of its second UK Cloud Region, LON2, in partnership with Deep Green data centre provider Deep Green. Based in Swindon, Berkshire, this new Cloud region operates on 100 percent renewable energy. Deep Green, Civo’s long-standing partner, selected the Carbon-Z site for its exceptional environmental practices. This upgrade means customers can now handle more intensive and complex workloads, such as AI and ML applications, with greater efficiency and reliability, and data that remains within national borders.  Mark Boost, CEO and Co-Founder of Civo said: “Sustainability is at the heart of our mission at Civo. As demand for cloud solutions surges, we are committed to ensuring that the benefits of this technology don’t come at the expense of our environment. It’s a pleasure to be working alongside Deep Green, a partner we have trusted for several years to deliver on our environmental commitment. “With the introduction of LON2, we’re taking an important step toward building a more responsible and environmentally conscious cloud industry. Together with Deep Green, we’re demonstrating that cloud innovation can, and should, be built on a foundation of sustainability.”  Mark Bjornsgaard, Founder and CEO of Deep Green, added: “We’re all well aware of the environmental footprint left by the tech industry. By partnering with Civo to launch LON2, we’re on a mission to change the narrative. This collaboration is about proving that innovation and sustainability can go hand in hand. With 100% renewable energy powering LON2 and a shared commitment to exploring further eco-friendly solutions, we’re making meaningful strides towards a greener future for cloud computing.”

London, UK, November 22nd, 2024, FinanceWire Capitalize, one of the leading proprietary trading firms, has announced their “One-Step Evaluation” program that allows easier access to trading opportunities than ever before. As part of this user-friendly process, traders can showcase their talent and get funding in just one single-stage evaluation, unlike their competitors’ lengthy and multilevel examination processes. By lowering or removing many of the traditional barriers to funding, Capitalize can let traders focus on honing their trading strategy, knowing that their route to full funding will be as smooth as possible. The simplified funding process applies to traders of all instruments including forex, equities, and other digital assets, allowing them instant access to capital without undue holdups. Candidate traders therefore can become funded professionals more quickly and more effortlessly than before. Customer Support Prop Capitalize is also committed to the best customer support, which they consider an essential pillar in the trading experience. Traders can be assured that a supportive team is available to answer any questions about technical issues, account inquiries, and even to walk them through the platform to ensure they have whatever they may need to trade optimally.  Prop Trading with Capitalize Proprietary trading has gained favor where traders seek to deploy professional capital without financial exposure on their part. An option against retail trading, Capitalize will not require a trader to risk their money. Instead, it believes in talent and potential. Some of the main tenets of Capitalize’s model are: Risk Mitigation: Traders use firm capital instead of personal funds. The firm covers the losses. Earning Potential: Competitive potential profit-sharing arrangements set a potential earnings for the trader. Competitive Conditions: Getting access to cutting-edge trading conditions to support the best performance. No Hidden Costs: Accessing trading capital directly and with no additional costs or hidden fees. One-Step Evaluation: Fast-track to funded trading and simplify results-focused assessment. These advantages make Capitalize a possible choice for traders who are in search of professional support and growth potential in financial markets. Capitalize, powered by ThinkMarkets, presents new and seasoned traders with superior infrastructure and global outreach. Its attentive attitude toward customers and transparent, trader-oriented conditions make it one of the leading choices in the prop trading world. About Capitalize Capitalize is a ThinkMarkets-powered prop trading company focusing on supportive programs and capital funding to help traders succeed. It is very accessible, with engaged and skilled customer support, thereby opening up the trading world to skilled funded traders. Capitalize is an innovative yet simple funding mechanism for intrepid traders looking to access the world of finance. Capitalize offers a remarkably fast and straightforward funding solution, eliminating the usual complexities and delays. Designed for smart traders, it provides a seamless and efficient way to access financial markets, allowing users to focus on trading without unnecessary hurdles. Its simplicity and speed make it a possible choice for those who value time and efficiency in pursuing their trading goals. To learn more about how users can start trading now, they can visit their website: https://prop-capitalize.com/ Contact Capitalize Media TeamProp Capitalizecontact@prop-capitalize.com The post Capitalize Announcing Prop Trading with One-Step Evaluation Program for Aspiring Traders appeared first on Fintech Review.

The US consumer protection watchdog in the financial sector has tightened its oversight on nonbank firms offering digital payment services. Consumer Financial Protection Bureau (CFPB) has finalized a rule targeting firms such as Apple, PayPal, and Zelle, which collectively process billions of transactions each year, CNBC reported. This move comes as the government agency seeks to ensure these tech giants adhere to the same standards as traditional financial institutions, including banks and credit unions.Over 13 billion transactions are reportedly processed annually through these platforms, with services like Apple Pay, Venmo, and PayPal quickly becoming essential for everything from sending money to paying for everyday purchases. Tightening RegulationsThe new rule will subject these companies, which handle at least 50 million transactions a year, to more stringent oversight. Previously, the CFPB's authority over these companies was limited, primarily overseeing electronic fund transfers. However, the CFPB has now gained the ability to conduct examinations similar to how it monitors banks. This means that the Bureau can now demand company records, interview employees, and ensure compliance with regulations aimed at protecting consumers' privacy, preventing fraud, and stopping illegal account closures.The rule also addresses a growing concern about the financial inclusion of underserved groups. Many of the most popular apps have gained particularly strong adoption among low- and middle-income users, who often rely on them for everything from storing cash to making payments.The CFPB's move aims to safeguard these consumers and ensure that their financial interactions are protected. While the rule was first proposed to target companies processing at least 5 million transactions annually, the threshold was raised to 50 million in the final version. Targeting Tech GiantsThis change limits the expanded oversight to seven key players, including giants like Apple, Google, PayPal, and fintech companies like Block (formerly Square). Retail-specific apps, such as Starbucks, which only process payments for a single company, remain outside the scope of the new rule. Notably, this is one of the few instances where the banking industry has voiced support for CFPB's increased scrutiny of digital payments. Banks have long argued that companies like Apple and PayPal should face similar regulatory oversight to maintain a level playing field. The rule will take effect 30 days after it is published in the Federal Register. This article was written by Jared Kirui at www.financemagnates.com.

LendingTree has partnered with insurtech Coverdash to integrate small business insurance into its platform. Adding insurance solutions complements LendingTree’s existing SMB loan products by helping insured businesses qualify for more financing due to their lower risk profile. The partnership also strengthens LendingTree’s position as a one-stop shop for SMB financial needs, while helping Coverdash expand its reach through a trusted, established brand. Online loan marketplace LendingTree has partnered with SMB-focused insurtech broker Coverdash to offer LendingTree’s business clients small business insurance. The ability to add Coverdash’s insurance options will be embedded into LendingTree’s platform. This partnership strengthens LendingTree’s connection with small business owners by broadening its SMB offerings beyond loans to include insurance solutions. LendingTree anticipates that this product expansion will complement its existing SMB loan products, as insured businesses typically present a lower risk profile, enabling them to qualify for additional financing. For Coverdash, today’s partnership with a trusted, established brand like LendingTree will broaden its reach and cement its role as a small business insurance provider. “We’ve always played an integral role in helping small businesses get off the ground with our loans and financing programs, so offering business insurance was the natural next step,” said LendingTree General Manager, Small Business & Student Loans, Jenn Ash. “This partnership with Coverdash deepens our commitment to supporting our customers’ growth, reinforcing our position as their trusted, long-term partner for all of their financial services needs.” North Carolina-based LendingTree maintains a marketplace of over 600 financial partners that offer a wide range of personal loans, mortgages, auto loans, and credit cards, and more. By enabling consumers to compare competitive rates and terms, LendingTree empowers individuals to make informed financial decisions. Since it was founded in 1998, the company has served over 120 million customers. “LendingTree’s legacy in financial services is unmatched, and we’re incredibly proud to have our embedded experience power their expansion into business insurance,” said Coverdash Co-founder and CEO Ralph Betesh. “Meeting financial requirements while starting a business is complex – our partnership lets business owners easily access trusted resources in one place at every stage of their company’s life cycle.” Founded in 2022, Coverdash is a newcomer to the insurtech space, which is typically dominated by more established companies. Based in New York, Coverdash is licensed in all 50 U.S. states to provide insurance solutions tailored to small businesses, including freelancers, e-commerce operations, and startups. Its offerings span general liability, workers’ compensation, cyber insurance, and more. Earlier this year, the company secured $13.5 million in Series A funding, bringing its total funding to $16 million, according to Crunchbase. Photo by Ivan Samkov The post LendingTree Taps Coverdash to Launch Small Business Insurance Offering appeared first on Finovate.       

A staggering 67% of global banks are experiencing client abandonment during the KYC onboarding process, marking a significant jump from 48% in 2023, according to new research by regtech firm Fenergo. Fenergo’s 2024 Know Your Customer (KYC) and onboarding trends survey, which gathered insights from over 450 C-suite executives in global banks across the UK, US and Singapore, highlights the urgent need for financial institutions to improve their KYC procedures. The survey points to a clear trend of disintermediation, with potential clients abandoning applications due to cumbersome KYC processes and opting for banks with more efficient onboarding experiences. While it’s clear that technology adoption is taking place, there’s still a long way to go when it comes to automating KYC to create a strong client experience. It’s more important than ever for financial institutions to improve their KYC procedures. Global financial penalties for non-compliance with anti-money laundering (AML) regulations cost financial institutions US$6.6 billion in 2023, and more problems are on the horizon with fines surging 31% in H1 of 2024. KYC can be time and resource-intensive, and a bank’s onboarding and review processes can shape their relationship with existing and future clients. To add to the complexity, regulations around AML, KYC, and client due diligence (CDD) are constantly evolving, putting added pressure on banks to improve their KYC operations. How Legacy Systems are Crippling Banks’ KYC Banks need help with their legacy technology and approach. A lack of visibility when it comes to data has become a major bottleneck for banks looking to onboard clients. 61% of banks globally report that they have insufficient risk insight into clients during the onboarding journey. Fenergo’s data suggests that banks need to work smarter, not harder. Regulations are continually evolving, and banks risk falling even further behind if they do not adopt the technology available to keep them up to date with changing regulations worldwide. Technology also enables banks to automate many of their processes so they can find the information they need without having to submit repeat requests to clients. For many years there have been a multitude of point solutions that can each handle a single aspect of the client onboarding journey. But embracing those rigid, sole-issue, solutions may have been a mistake for many banks. Banks adopted these solutions early on to adapt to increasing regulatory demands and evidently still rely on them instead of moving to end-to-end enterprise solutions. However, by automating the data-heavy elements of KYC procedures with an end-to-end solution, banks could reduce the risk of client abandonment during onboarding. Banks that cannot overcome these challenges are already being disrupted by other banking services. If they continue to lose ground to the competition, then they risk failing to engage customers and subsequently losing them to competitors that truly understand the customer. Download a free copy of the latest Fenergo KYC trends report with global and regional data available here. Featured image credit: Edited from Freepik The post Two-Thirds of Banks Losing Clients Due to Poor Onboarding, Warns Fenergo appeared first on Fintech Singapore.

An incident disclosure shared with Finastra's banking and financial customers confirms a hacker stole files from a company system. © 2024 TechCrunch. All rights reserved. For personal use only.

Die siebte Ausgabe der Studie „Digitalisierung & Kundenerfahrung im Schweizer Retailbanking 2024” von Colombus Consulting zeigt, dass die Retail-Banken auch 2024 weiter in digitale Medien investieren. Die mobilen Apps werden immer aktueller und beliebter, die sozialen Netzwerke generieren mehr Engagement, und die Budgets für digitales Marketing steigen um 23 % auf über 58 Mio. Schweizer Franken pro Jahr. Das Web steht dem in nichts nach, da Tools zur Optimierung der Kundenerfahrung oder Chatbots eingesetzt werden, aber die Aufmerksamkeit für digitale Verantwortung oder ethische KI noch gering ist. Ein seit zwei Jahren unverändertes Podium Die gleichen Banken bilden auch 2024 das Spitzentrio: UBS, PostFinance, Raiffeisen. Durch das Ausscheiden von Credit Suisse aus dem Panel und die Fortschritte von Swissquote in den Bereichen Web und mobile Apps kann die digitale Bank diesem Trio dicht auf den Fersen bleiben. Andere Banken machen Fortschritte wie Yuh und die Migros Bank, die in unserer Rangliste auf Platz 7 bzw. 8 stehen. Die Anstrengungen im digitalen Bereich lassen sich in allen Kanälen feststellen. Das Publikum wächst insgesamt um 13,5 % (fast 30 Millionen Besuche pro Monat), die Investitionen in das digitale Marketing bleiben stark (+23 %, d.h. mehr als 58 Millionen Schweizer Franken pro Jahr), der NPS der mobilen Apps wächst um 5 Punkte (67 %) und das Engagement in den sozialen Netzwerken steigt um 64 % auf insgesamt fast 100.000 Interaktionen pro Monat. Das Web angetrieben von Kundenerlebnissen und digitalen Produkten Die Optimierung des Kundenerlebnisses bleibt das A und O mit der Einführung neuer Webanalyse-Tools in diesem Sinne bei der FKB, N26 und Neon oder der Entwicklung des direkten Kontakts über Chatbot bei der BKB und Neon. Die Digitalisierung erfolgt auch über naturgemäss digitale Angebote und den nunmehr möglichen Zugang zu Kryptowährungen bei PostFinance und ZKB, in der gleichen Reihe wie die Kantonalbanken von Luzern, St. Gallen und Zug, mithilfe von Partnerschaften mit Akteuren, die auf diese Art von Vermögenswerten spezialisiert sind (Sygnum Bank und Crypto Finance AG). Mobile Apps werden beliebter und zu mehr Sicherheitsdiensten Die mobilen Apps der Banken sind in diesem Jahr ein grosser Erfolg. Der NPS steigt um 5 Punkte auf 67 % und auch die Anzahl der Aktualisierungen pro Bank steigt mit durchschnittlich 30 Aktualisierungen, 6 mehr als im Jahr 2023. Es gibt jedoch weiterhin eine Spaltung zwischen Neo-Banken und traditionellen Banken (64 Updates gegenüber 24). Die innovativsten neuen Dienstleistungen werden von der Neobank Revolut dank der automatischen Steuerung von Investitionen und eines verbesserten Schutzes gegen den Diebstahl von Telefonen angeboten. Swissquote setzt ebenfalls auf Sicherheit mit einer 2-Faktor-Authentifizierung für die Validierung der sensibelsten Transaktionen. Soziale Netzwerke: Engagement getragen von Instagram und LinkedIn Die Reichweite der sozialen Netzwerke ist in diesem Jahr geringer: Die Zahl der Abonnenten ist um 26 % (insgesamt 2 Millionen) gesunken, was auf das Fehlen von Credit Suisse und FlowBank im Panel sowie auf den Rückgang von Facebook zurückzuführen ist. Das Engagement ist auf dem Vormarsch und wächst um 64 %, vor allem dank Instagram und LinkedIn, und erreicht fast 100.000 Interaktionen pro Monat. Die Inhalte sind sichtbarer und ermutigen die Abonnenten, sie zu liken, zu kommentieren oder zu teilen, vor allem dank des Influencer-Marketings von UBS mit dem F1-Team und dem Fahrer George Russel. Raiffeisen wendet sich mit einer eigenen Instagram-Seite und einem aktiven und engagierten TikTok-Konto, das mehr als 700.000 oder sogar 800.000 Aufrufe für einige Videos generiert, an die jüngsten und netzwerkaktiven Zielgruppen. Erobert (generative) KI die Schweizer Banken? Während Privatbanken wie Pictet und Vontobel kürzlich mit auf generativer KI basierenden Assistenten zur Optimierung ihrer internen Produktivität und Kundeninteraktionen den Weg geebnet haben, zieht die UBS über ihren KI-Assistenten, der in den letzten 12 Monaten intern entwickelt wurde, um Unternehmensdaten im Rahmen von Fusionen und Übernahmen zu analysieren, nach. Temenos, ein Schweizer Anbieter von Banking-Lösungen, bietet nun eine Reihe von Lösungen an, die mit generativer KI angereichert sind. Seine Kundenbanken können damit einzigartige Informationen und Berichte generieren oder auch Produkte in Echtzeit nach Kundenpräferenzen erstellen, um die grundlegenden Bankaktivitäten und die kritischsten Geschäftsfunktionen zu unterstützen. In der gleichen Logik haben andere allgemeine Anbieter wie Oracle, Salesforce und Microsoft ihre Lösungen mit generativen KI-Modulen angereichert, um die verfügbaren Funktionen zu erweitern und gleichzeitig eine starke Geschäftslogik beizubehalten. Digitale Verantwortung noch im Werden Der bereits im letzten Jahr in unseren digitalen Index aufgenommene digitale Verantwortung misst die Umweltauswirkungen der Websseiten der Panelbanken, indem er deren Komplexität, Gewicht und Ressourcenoptimierung analysiert. Die im Jahr 2023 festgestellten halbherzigen Ergebnisse bleiben auch 2024 mit einem nahezu unveränderten EcoIndex-Durchschnitt von 36/100 noch aktuell. Swissquote bleibt mit einem ausgezeichneten Ergebnis von 95/100 Punkten allein an der Spitze. Die CA Next Bank und LUKB haben sich gut entwickelt, ohne jedoch die 50/100 zu überschreiten, und die schlechtere Bewertung von Akteuren wie BCV, N26 und Yuh konnte nicht ausgeglichen werden. Es bleibt abzuwarten, ob die Banken in den kommenden Monaten die digitale Verantwortung stärker in den Mittelpunkt ihrer digitalen Strategie stellen werden. Auf dem Weg zu einer ethischeren und verantwortungsvolleren Art Banken? Die Themen rund um die Ethik und die Verantwortung der Banken entwickeln sich an allen Fronten, insbesondere auf regulatorischer Ebene in Europa (und zweifellos langfristig auch in der Schweiz), wobei die CSRD (Corporate Sustainability Reporting Directive) und das KI-Gesetz an erster Stelle stehen. Zur Erinnerung: Die CSRD verlangt von den Unternehmen eine detaillierte nichtfinanzielle Berichterstattung über ihre Auswirkungen auf Umwelt, Soziales und Governance und damit die Verpflichtung, auf diesen Achsen zu handeln, und das KI-Gesetz verlangt, dass KI-Systeme nach Risikoniveaus klassifiziert werden, mit Verpflichtungen je nach ihrer Nutzung. Die Schweizer Banken sind nicht alle im gleichen Boot: die internationalen Banken mit einer europäischen Ausrichtung, die daher diese Richtlinien befolgen müssen, und die anderen, die eher lokal ausgerichtet sind, aber letztendlich davon betroffen sein werden.   The post Die Digitalsten Schweizer Retail Banken appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

https://medium.com/media/64e1d2f2d0ab76c38a66157e87ffd3e4/hrefIn our latest episode of the Wharton FinTech podcast, I had the pleasure of speaking with Shan Aggarwal, VP of Corporate Development and Business Development at Coinbase and the Head of Coinbase Ventures. Shan’s journey from neuroscience to the crypto industry is as unconventional as it is inspiring. Since joining Coinbase in 2018, Shan has played a crucial role in expanding Coinbase Ventures’ portfolio to over 450 companies, including notable names like Uniswap, Zora, and Consensys.We delved into Shan’s unique path, starting with his early aspirations in the medical field, his pivot to management consulting, and eventually, his leap into the exciting world of crypto investing. Shan shared his lightbulb moment upon reading the Ethereum white paper in 2017, which sparked his interest in the potential of blockchain technology as a global application platform.“The Ethereum white paper was my light bulb moment. It showed me the potential of crypto as a global financial system where individuals could retain ownership of their data and assets.”Our conversation covered the evolution of the crypto ecosystem over the past few years, highlighting how Coinbase Ventures has adapted its investment strategy to support innovation. Shan emphasised the importance of improving user experience to drive mainstream crypto adoption, discussing the advancements in smart wallets and seamless on-chain interactions that are making crypto more accessible.We also explored the long-term potential of decentralised finance (DeFi) and on-chain social media platforms. Shan’s enthusiasm for projects like Zora, an on-chain Instagram or TikTok, illustrates how Web3 is reorganising the internet around data ownership and user value creation. Additionally, we discussed how stablecoins are revolutionising cross-border payments, providing efficient, low-cost solutions for global transactions.Shan’s insights into the cyclical nature of the crypto market were particularly enlightening. He explained how the builder energy remains strong during bear markets, leading to the creation of foundational companies that drive the industry’s growth. This resilience, coupled with the increasing standardisation of crypto investment terms, signals a maturing ecosystem poised for significant advancements.In closing, Shan’s perspective on the future of crypto is optimistic. As the industry grows and more experienced builders emerge, the potential for groundbreaking innovations continues to expand. This episode is a must-listen for anyone interested in the future of crypto and fintech.Listen to the full episode on Soundcloud, Spotify or Apple Podcasts.[Podcast] From Neuroscience to Crypto: Shan Aggarwal’s Journey and Insights from Coinbase Ventures was originally published in Wharton FinTech on Medium, where people are continuing the conversation by highlighting and responding to this story.