Investment

The online lender, which raised $240 million, wants to take its artificial intelligence technology for evaluating borrowers to the next level and expand its partnerships with banks, its CEO says.

Federal banking agencies want to give the industry a hard deadline for notifying their regulators about serious security breaches and failed system upgrades.

Paying on delivery with tokenization, biometric fingerprint cards, vein scanning or phone-to-phone with a variety of card payment options helps create a universe of consumer choice, convenience, personal preference and better fraud protection, says Radar Payments' Jane Loginova.

It has been 15 years since the federal banking agencies issued guidance on an institution’s obligation to inform its regulator about a cyberattack. A proposal to be unveiled this week could establish a more specific notification deadline.

Fundraising platform TapSimple has raised nearly £1 million (U.S. $1.3 million) in an investment round that will help it to continue to develop fundraising activity in what it describes as an increasingly cashless world.

It's important that breach mitigation strategies take younger people, gaming and school into account, says ForgeRock's Ben Goodman.

“If you get your credit decisions right and you manage fraud well, you can run a very efficient bank. That’s an area where AI is very applicable,” Toronto-Dominion Bank's chief AI officer says.

Fidelity Digital Assets will allow its institutional customers to pledge bitcoin as collateral against cash loans in a partnership with blockchain startup BlockFi.

Fintech success stories have encouraged investors to back more startups, but newcomers will be hard-pressed to attract enough customers to compete while keeping expenses down.

E-commerce and digital finance are expanding quickly due to the pandemic, economic downturn and plans for recovery — providing opportunities for VCs that back technology that powers faster, more digital payments.