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#Financial Services

cryptopotato.com

New York Attorney General Cracks Down On Cryptocurrency Lending Services

New York Attorney General Letitia James wants to shut down unregistered cryptocurrency lending service providers and make them “follow the law.”. New York Attorney General Letitia James announced on October 18 that she had ordered the shutdown of an unidentified group of cryptocurrency lending platforms operating in the state. As...
NEW YORK CITY, NY
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VentureBeat

AI-powered fraud-fighting platform Resistant AI raises $16.6M

Resistant AI, a startup developing automation technologies that respond to vulnerabilities in financial services, today announced that it raised $16.6 million in a series A funding round from GV (formerly Google Ventures) with participation from Index Ventures, Credo Ventures, and Seedcamp. The Prague, Czech Republic-based company says it’ll use the funding to build out Resistant AI’s product, engineering, and sales operations teams beyond their current offices in Prague, London, and New York.
COMPUTERS
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thebossmagazine.com

Will Monero Lead Us to a Decentralized Future and Financial Anonymity?

Cryptocurrency exchanges take place on decentralized computer networks using virtual wallets. Each of these transactions are recorded on blockchains, or tamper-proof ledgers that are accessible to the public. When cryptocurrency and blockchains are mentioned in conversation, people usually think of famous coins like Bitcoin (BTC) and Ethereum (ETH). But this trillion-dollar industry has grown to include a variety of coins with their own systems and their own proprietary technologies.
MARKETS
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TRENDING TOPICS

What makes FinTech solutions succeed? We built a model based on Ghana’s experience

Nearly a quarter of adults in the world do not have access to a basic bank account. Financial technology (FinTech) innovations, such as mobile money, are one way to bridge this gap. Examples include M-Pesa in Kenya, Oi Paggo in Brazil and TCASH in Indonesia. All provide individuals with cheaper, easier, faster and more efficient ways of storing and transferring value. These efforts contribute to bridging the financial exclusion gap.
ECONOMY
Business Insider

Digitally Mature Businesses Expanding Digital Infrastructure 4x Faster Than Pre-Pandemic Levels

This accelerated pace of digital transformation is predicted to continue to fuel the rapid growth in interconnection bandwidth. According to the GXI Vol. 5, overall interconnection bandwidth, the measure of private connectivity for the transfer of data between organizations, is forecast to reach 21,485+ terabits per second (Tbps), or 85 zettabytes, per year by 2024, representing a five-year compound annual growth rate (CAGR) of 44%. This growth is aligned with the increasing demand for the digital infrastructure needed to bring more businesses online, facilitate electronic integration with partners and supply chains, and reach more people in distributed hybrid work environments.
MARKETS
Business Insider

Pismo Raises $108 Million Series B Led by SoftBank, Amazon and Accel to Enable Cloud-Native Financial Services Globally

The financial services industry is undergoing significant technological transformation, and consumers are increasingly demanding more innovative products and frictionless experiences. Pismo has developed a cloud-native core processing platform that gives banks, fintechs, and other financial institutions flexibility and agility. Its unique all-in-one platform allows Pismo customers to rapidly launch products for cards and payments, digital banking, digital wallets, and marketplaces. In addition, it allows financial institutions to take charge of their core data and use it intelligently.
BUSINESS

Goldman CEO Solomon Says a Price Must Be Put on Carbon

David Solomon, chairman and chief executive officer at Goldman Sachs, discusses the firm’s commitment to the U.K., putting a price on carbon, and the bank’s 5-year growth plan in China. He speaks with Francine Lacqua on the sidelines of Global Investment Summit on “Bloomberg Surveillance.” (Source: Bloomberg)
ENVIRONMENT
theenterpriseleader.com

12,700 Shares in Heritage Financial Co. (NASDAQ:HFWA) Acquired by Jump Financial LLC

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. State of Alaska Department of Revenue increased its stake in Heritage Financial by 2.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 24,894 shares of the financial services provider’s stock worth $622,000 after buying an additional 586 shares during the period. Baird Financial Group Inc. increased its stake in Heritage Financial by 1.4% during the 1st quarter. Baird Financial Group Inc. now owns 49,431 shares of the financial services provider’s stock worth $1,396,000 after buying an additional 666 shares during the period. Captrust Financial Advisors purchased a new stake in Heritage Financial during the 1st quarter worth approximately $39,000. Boston Partners increased its stake in Heritage Financial by 1.5% during the 2nd quarter. Boston Partners now owns 98,584 shares of the financial services provider’s stock worth $2,467,000 after buying an additional 1,417 shares during the period. Finally, Ensign Peak Advisors Inc increased its stake in Heritage Financial by 20.0% during the 2nd quarter. Ensign Peak Advisors Inc now owns 9,600 shares of the financial services provider’s stock worth $240,000 after buying an additional 1,600 shares during the period. 79.07% of the stock is currently owned by hedge funds and other institutional investors.
STOCKS
theenterpriseleader.com

United Capital Financial Advisers LLC Purchases 79 Shares of iShares U.S. Financial Services ETF (NYSEARCA:IYG)

Other institutional investors also recently added to or reduced their stakes in the company. Resources Investment Advisors LLC. boosted its holdings in shares of iShares U.S. Financial Services ETF by 923.5% in the second quarter. Resources Investment Advisors LLC. now owns 13,827 shares of the company’s stock valued at $2,561,000 after buying an additional 12,476 shares during the period. Private Advisor Group LLC boosted its holdings in shares of iShares U.S. Financial Services ETF by 15.1% in the second quarter. Private Advisor Group LLC now owns 32,558 shares of the company’s stock valued at $6,031,000 after buying an additional 4,275 shares during the period. HighTower Advisors LLC boosted its holdings in shares of iShares U.S. Financial Services ETF by 18.3% in the second quarter. HighTower Advisors LLC now owns 4,287 shares of the company’s stock valued at $794,000 after buying an additional 663 shares during the period. HBK Sorce Advisory LLC acquired a new position in shares of iShares U.S. Financial Services ETF in the first quarter valued at approximately $262,000. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in iShares U.S. Financial Services ETF by 9.6% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 17,995 shares of the company’s stock worth $3,333,000 after purchasing an additional 1,571 shares during the last quarter.
STOCKS
Entrepreneur

Changing Fintech Landscape And Customer Expectations

You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Digital lending is emerging as a viable alternate for reaching those who have not been able to access financial services in the past. Innovative products are capable of overcoming geographical limitations, making the services accessible, reducing transaction costs and enhancing transparency. The distinct market structures, regulatory mechanisms and diverse customer needs have resulted in a huge variety of digital lending models, each dealing with financial inclusion in unique ways.
ECONOMY
modernreaders.com

$0.64 EPS Expected for Orrstown Financial Services, Inc. (NASDAQ:ORRF) This Quarter

Analysts forecast that Orrstown Financial Services, Inc. (NASDAQ:ORRF) will announce earnings per share of $0.64 for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Orrstown Financial Services’ earnings, with the highest EPS estimate coming in at $0.65 and the lowest estimate coming in at $0.63. Orrstown Financial Services reported earnings per share of $0.57 during the same quarter last year, which would suggest a positive year over year growth rate of 12.3%. The company is scheduled to issue its next quarterly earnings report on Tuesday, October 19th.
FINANCIAL REPORTS
rivertonroll.com

Deutsche Bank AG Sells 15,452 Shares of Provident Financial Services, Inc. (NYSE:PFS)

Deutsche Bank AG lessened its stake in Provident Financial Services, Inc. (NYSE:PFS) by 21.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,562 shares of the savings and loans company’s stock after selling 15,452 shares during the quarter. Deutsche Bank AG’s holdings in Provident Financial Services were worth $1,296,000 at the end of the most recent reporting period.
MARKETS
baseballnewssource.com

Mirabella Financial Services LLP Has $4.58 Million Stock Position in Paychex, Inc. (NASDAQ:PAYX)

Mirabella Financial Services LLP lifted its stake in Paychex, Inc. (NASDAQ:PAYX) by 773.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,721 shares of the business services provider’s stock after acquiring an additional 37,831 shares during the period. Mirabella Financial Services LLP’s holdings in Paychex were worth $4,584,000 at the end of the most recent reporting period.
STOCKS
baseballnewssource.com

Mirabella Financial Services LLP Makes New $7.06 Million Investment in SPDR S&P Retail ETF (NYSEARCA:XRT)

Mirabella Financial Services LLP bought a new position in SPDR S&P Retail ETF (NYSEARCA:XRT) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 72,590 shares of the exchange traded fund’s stock, valued at approximately $7,058,000. SPDR S&P Retail ETF comprises 1.3% of Mirabella Financial Services LLP’s holdings, making the stock its 14th biggest position. Mirabella Financial Services LLP owned approximately 0.55% of SPDR S&P Retail ETF as of its most recent filing with the Securities & Exchange Commission.
RETAIL
baseballnewssource.com

The Hartford Financial Services Group (NYSE:HIG) Now Covered by Morgan Stanley

Morgan Stanley started coverage on shares of The Hartford Financial Services Group (NYSE:HIG) in a research report sent to investors on Friday morning, The Fly reports. The brokerage issued an equal weight rating on the insurance provider’s stock. Several other research analysts also recently weighed in on HIG. Deutsche Bank...
MARKETS
bain.com

On the Eve of Regulation, Five Insights from the UK Experience

This article is part of Bain's report on Buy Now, Pay Later in the UK. Buy now, pay later (BNPL) is one of the hottest trends in financial services and retail today, attracting resources and innovation in many countries. Significant capital is flowing into high-growth BNPL businesses, with Klarna’s $639...
RETAIL
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