Managers of Wealth Fintech

IBM profit jumps 16% but company will cut 3,900 jobs

Net profit during the October-December period rose to more than $2.7bn

Saudi Central Bank engages with fintechs and banks on CBDC

The Governor of Sama Fahad Almubarak says that it has engaged both local banks and fintechs

Commerzbank sues EY over €200 million Wirecard loss

Wirecard had a credit facility of €200 million with Commerzbank, of which about 90% was drawn at the time of its undoing.

4 RegTech companies reducing compliance burden in Germany

DataGuard is a Compliance software company focused on Data Privacy and Information Security.

MAS Grants In-Principle Approval to Payments Firm Flywire

With the in-principle approval, Flywire will be able to provide domestic money transfer services, cross-border money transfer services and merchant acquisition services.

AI proves helpful for banks facing new cash penalties for settlement failures

According to one report, banks have been hit with penalties of up to €5 million per month under new CSDR settlement rules. As a result, banks are turning to AI to help.

Tech Nation loses UK government grant to Barclays

Doubt is cast on the future of Tech Nation as the organisation is now “working around the clock” to remedy its funding shortfall.

Microsoft plans 10,000 job cuts, will take $1.2bn charge

The layoffs come as the software giant said it’s seeing customers exercise caution, with some parts of the world in recession

Thailand's SEC issues digital wallet rules

Pursuant to the transitional provisions, digital asset business operators who had provided custody of clients’ assets prior to the effective date of the regulations are required to fully comply within six months as from the effective date.

Can central bank digital currencies help stabilize global financial markets?

Despite global financial instability, central bank digital currencies (CBDC) are emerging as high priorities for central banks.

LendingClub cuts 225 jobs

The firm says it originated $2.5 billion in loans in the fourth quarter and expects revenue of between $260 million and $263 million, with net income of between $21 million and $24 million.

Key Developments & Latest Trends in the Fintech Sector in The Bahamas

From a central Government policy perspective, the Government of The Bahamas (the “Government”) published a Policy White Paper on The Future of Digital Assets in The Bahamas

Herbert Smith Freehills advises the NSW Government on partnership with Techstar

The agreement will see Techstars establish an office in Sydney’s Tech Central, Australia's largest innovation district.

IBM and Oracle deliver AIG hospitality services on the cloud

In the digital era, hotels leverage technology to expand their offerings and encourage seamless operations across a network of branches.

NFT infringes trade mark rights – Italian Court grants preliminary injunction in Juventus case

Therefore, the Court rejected all Blockeras’ arguments of non-infringement and found the NFT CARDS to be an unauthorised and infringing reproduction of the football club’s trade marks.

Ashurst invites applications for Fintech Legal Labs accelerator

Set over three days, the programme takes a legal-led approach to the key topics relevant to Fintech businesses

JPMorgan Chase sues founder of startup it acquired

Asked for proof during due diligence, she allegedly produced a list of “fake customers - a list of names, addresses, dates of birth, and other personal information for 4.265 million ‘students’ who did not actually exist,” says the

BR-DGE announces three-year partnership with Visa

The collaboration will focus on a range of digital commerce products at a time of “rapid innovation” in the payments sector.

Up to a quarter of APP fraud victims could lose out under new reimbursement rules

By monetary value, cases under £100 account for a small amount of overall fraud losses - at one percent.

FCA fines GT Bank £7.8 million for serious AML compliance failings

The bank also failed to monitor customer transactions and business relationships to the required standard.

Legal,Regulation,Tax & Compliance