Digital Currency Monetary Authority launches CBDC
Source: DCMA
Today, at the International Monetary Fund (IMF) Spring Meetings 2023, the Digital Currency Monetary Authority (DCMA) announced their official launch of an international central bank digital currency (CBDC) that strengthens the monetary sovereignty of participating central banks and complies with the recent crypto assets policy recommendations proposed by the IMF.
Australian Lender Latitude Financial Reveals Massive Data Breach
Consumer lender Latitude Financial has disclosed a major data breach that resulted in the theft of 14 million customer records, including personal information, drivers licenses, passports, and financial statements.
Silvergate Bank goes into liquidation
Silvergate Bank has gone into liquidation, raising further concerns about rising volatility in the crypto sector.
US banks launch digital asset settlement platform PoC
Some of the biggest names in the US banking industry are coming together on a proof of concept for a regulated digital asset settlement platform.
New York Fed and MAS test wCBDC for cross border payments
The Monetary Authority of Singapore and the Federal Reserve Bank of New York are teaming up to explore the use of wholesale CBDCs for cross-border payments.
SCA has led to fall in online card fraud - Barclaycard
200 days on from the mandatory introduction of Strong Customer Authentication (SCA) in the UK, 73% of retailers have seen online payment fraud decline, according to data from Barclaycard Payments.
Banks risk losing 89% of SME business to fintech challengers
Source: Capgemini
New payment methods (instant payments, e-money, mobile and digital wallets, account-to-account, QR codes) are leading the charge with consumers, but the looming threat of recession and growing inflation rates coupled with continuing geopolitical issues, is posing a whole host of new challenges.
Paytm unveils fraud risk management platform, Pi
Source: Paytm Labs
Paytm Labs, the advanced R&D division of fintech giant Paytm, has launched Pi, an ML-powered fraud risk management (FRM) platform designed for fintechs, banks and eCommerce marketplaces with high transaction volumes.
