Mastercard, PayPal launch fintech partnership focused on Latin America

September 18, 2020.
Mastercard and PayPal rolled out a new partnership with banks geared toward accelerating fintech development and digital and financial inclusion in the Latin America and Caribbean regions.

Figure launches digital fund services using blockchain

September 18, 2020.
U.S.-based fintech Figure has launched the first end-to-end digital fund services using blockchain technology, adding to its existing portfolio of lending and banking offerings.

Chime overtakes Robinhood as largest US fintech startup with $14.5B valuation: CNBC

September 18, 2020.
Mobile-banking startup Chime closed a round of fundraising that sent its valuation surging to $14.5 billion, making it the most valuable consumer-facing fintech startup in the U.S., CNBC reported Friday.

Paytm app briefly pulled from Google Play Store for gambling policy violations

September 18, 2020.
Google yanked the popular Indian mobile payment app Paytm from its Google Play Store Friday for violating its gambling policies with the launch of a new marketing campaign, leading to a war of words between the technology companies before the app was restored hours later.

NCUA looks to credit union deposits for relief as equity ratio drops

September 18, 2020.
The National Credit Union Administration reported a second-quarter equity ratio close to dangerous levels as a result of the pandemic, and temporarily amended lending regulations for U.S. real estate transactions.

Zurich rolls out products geared toward businesses anticipating climate risks

September 17, 2020.
Zurich Insurance Group is launching new products aimed at helping businesses to prepare for and manage a range of growing risks related to climate change, as environmental risks become an increasingly prominent concern for companies.

Third Point Re buys stake in ex-Markel veteran’s startup broker

September 17, 2020.
Third Point Re has teamed with Arcadian Risk Capital, a specialized insurance broker, to launch and help steer the startup as it seeks to capitalize on tailwinds in the casualty sector.

Deutsche Börse buys stake in fintech Quantitative Brokers to support growth plan

September 17, 2020.
Deutsche Börse is acquiring a majority stake in Quantitative Brokers, a data analytics firm that helps automate securities trading, as part of a larger strategy to attract passive investors by expanding its technology-based tools.

Natixis enters active semitransparent ETF market with new US offerings

September 17, 2020.
Asset manager Natixis launched a slate of semi-transparent exchange-traded funds, joining rival firms flocking to the new investment vehicles as they compete for capital in the growing ETF market.

Sweden’s SEB launches green-technology investment unit

September 17, 2020.
Skandinaviska Enskilda Banken said Thursday that it will provide a needed infusion of venture capital for sustainability-focused entrepreneurs, starting with SEK 300 million ($34.2 million) for investments and aspiring to reach SEK 1 billion ($113.9 million) over time.

ICBC launches first virtual Visa credit card in Hong Kong

September 17, 2020.
Industrial and Commercial Bank of China said Thursday that it has launched the first Visa virtual credit card in Hong Kong in response to the increasing popularity of cardless payment via mobile phones.

SGX ushers in the first China bond ETF in Singapore, created by CSOP, ICBC

September 17, 2020.
The Singapore Exchange on Thursday unveiled the listing of the world’s biggest exchange-traded fund to invest solely in Chinese government bonds, aiming to capitalize on investors’ accelerating demand to access opportunities in the second-largest bond market on the globe.

Blackstone joins Lloyd’s market via investment in digital syndicate Ki

September 17, 2020.
U.S. private equity firm Blackstone is making a foray into the Lloyd’s of London market as one of two investors committing $500 million to all-digital syndicate Ki, specialty insurer Brit, the startup’s inaugural backer, said Thursday.

Bank of England warns of ‘unusually uncertain’ economy, mulls negative rates for future

September 17, 2020.
The Bank of England said Wednesday it will leave interest rates unchanged as the outlook for the economy remains hazy amid continued concerns about the coronavirus and Brexit, but left the door open to move to negative rates if things decline.

TD adds two mutual funds to sustainable investing lineup

Last modified September 17, 2020. Published September 17, 2020.
TD Asset Management added to its lineup of sustainable investing options on Thursday with the launch of two new mutual funds focused on creating wider access to the growing trend of green finance in Canada and throughout North America.

Fidelity expands digital store to integrate third-party fintechs

September 16, 2020.
Fidelity Investments updated its open architecture digital store on Wednesday to include integrations with more than 200 third-party fintech providers, streamlining new technology options for financial advisors.

CFPB, 47 states settle with ITT Tech, Deutsche Bank trusts over private student loans

September 16, 2020.
Former students at ITT Technical Institute, a for-profit college that went bankrupt in 2016, will be forgiven of $330 million in private student loans that trusts set up by Deutsche Bank made, under a settlement with U.S. authorities.

Swiss Re, Covea shopping for arbitrators over COVID-19 BI claims: press reports

September 16, 2020.
The world’s biggest reinsurer, Swiss Re, is bracing for an arbitration battle with Covéa, France’s largest property and casualty insurance company, over COVID-19 business interruption losses that could approach EUR 1 billion ($1.2 billion), according to French press reports.

Zurich to offer alternative to workers’ compensation insurance for Texas employers

September 16, 2020.
Zurich North America on Wednesday launched a specialized liability insurance policy tailored for the unconventional market of Texas, the only U.S. state that does not require employers to maintain workers’ compensation coverage.

Fintech BitPay partners with Wyre, enables in-app cryptocurrency purchases

September 16, 2020.
Cryptocurrency payment provider BitPay on Wednesday rolled out new functions allowing users to purchase Bitcoin and other popular digital assets on its app through a partnership with fintech startup Wyre.