Technology

The central bank made two more moves to keep credit flowing; the Housing Policy Council plan would halt mortgage payments during the COVID-19 crisis.

With coronavirus taking a significant chunk out of physical retail and services, the use of call centers and phone interaction with customers becomes even more important.

Heritage financial institutions that don’t support emerging embedded payments and banking risk further erosion of younger cohorts and losing material franchise value to fintechs, challenger or neo-banks equipped to originate and service accounts at the edge of partner networks, say payment consultants Richard Crone and Heidi Liebenguth.

On the same day the Federal Deposit Insurance Corp. said it will soon rule on two applications, the agency also proposed benchmarks for all firms that want to own industrial loan companies.

RTP Global and HV Holtzbrinck Ventures led an €18.5 million ($20.3) Series B round in Penta, a Berlin-based small business bank.

TransferWise has partnered with Alipay to expand money remittance options for its users to instantly send Chinese yuan to friends and family in China.

Southeast Asian ride-hailing giant Gojek has raised $1.2 billion for expansion, defying tech-sector turbulence and the coronavirus pandemic to secure funds to take on Grab Holdings Inc.

The serial entrepreneur has created a challenger bank called One for middle-income people with complicated financial lives.

In a scenario where employees regularly and accurately track and report their business expenses, this continuously updated data helps businesses make intelligent decisions quickly, says Fyle's Yash Madhusudan.

Digital fraud protection provider Kount has launched a security layer designed to prevent account takeover.