Samsung Electronics is setting up a new fund to help suppliers with cash flow. Reports Friday (May 26) said the South Korean company is setting up a fund with various banks worth $447.5 million that will go toward supplier financing in an effort to ease cash flow struggles down its supplier chain. The fund will […]
After an inquiry to examine the potential for blockchain to play a role in the nation’s interbank system, the Bank of Canada has ultimately decided against the technology. Reports Friday (May 26) said the central bank revealed its views in an article for The Globe and Mail publication, penned by Senior Deputy Governor Carolyn Wilkins as well […]
FinTech has no doubt changed the face of the financial services industry in the U.S., but experts are beginning to question how it will impact regulation. Reports in Reuters on Friday (May 26) explored how industry players are examining the future of financial regulation as FinTech continues its disruption. “It has ended banking as we know […]
Some of the biggest names in payments — Stripe, Amazon and Google — made headlines this past week with boosts to businesses both virtual and bricks and mortar (Stripe and Amazon) and big data initiatives (Google).
On-demand food-delivery service Sprig won’t be growing any bigger than its namesake. The San Francisco-based company announced Friday (May 26) that it was shutting down, joining the ranks of food delivery apps Maple, Spoon Rocket and Ola. Friday was Sprig’s last day in business. “No question, I’m sad that the Sprig model did not work […]
Three responses to the CFPB’s Request For Information on small business lending have already been submitted and here’s what they say. Kent Franzen, a career banker, said that the law limiting an underwriter’s access to an applicant’s minority-owned or women-owned business status is “literally impossible.” “Considering that in every small bank I have worked in […]