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Moven Gets Funding from SoftBank and Looks to Returns to Roots with Bank Acquisition

Bank Innovation

Neobank Moven has secured an undisclosed amount from SoftBank and is looking to acquire a bank with the funding, according to an American Banker report. Moven burst onto the fintech scene in 2012 — it was founded in 2011 and launched an alpha product in 2013 — as Brett King’s bank, or bank account.

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Signify US CEO (Formerly Philips Lighting): Lighting Up The Connected Economy’s Innovations

PYMNTS

The one thing we all have to learn: it is not about the innovations themselves. We get very excited about our innovative capabilities, and we are extremely proud of all of our IP and patents in this area. Those innovations have illumination that there is value here beyond a great light,” said Karner.

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Blockchain Startup Ripple Registers Trademark For New PayString Offering

PYMNTS

Since its founding in 2012, Ripple has received funding totaling $293.8 Peter Brandt said on Twitter that the Securities and Exchange Commission would have declared XRP a security if it “understood cryptos,” per Cointelegraph. Silicon Valley’s Ripple , a blockchain payments startup, has filed a trademark with the U.S.

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At The POS Of The Future, Consumers Will Pay With Sound

PYMNTS

It represents the development of a whole new technology, and reliability and security are just as important as speed — otherwise, this alternative payment method would be no better than the electronic payment methods that came before it. Innovators in South Korea, France, Israel and the U.K., Why Sound Is Better.

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Why Bunq Banks On The Cloud For An Innovative Edge

PYMNTS

The challenger bank has run on a cloud banking model since its 2012 launch and is available for business and consumer use in 30 European markets, including Austria, Germany and the Netherlands. We are using ML to add an extra security layer to keep [customers] safe. …

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Fed Study: Noncash Payments Fraud Outpacing Growth Overall

Bank Innovation

outpaced growth in noncash payments overall between 2012 and 2015, according to a Federal Reserve Payments Study released this week. billion in 2012 to $8.3 Noncash payments fraud in the U.S. The study’s survey of depository institutions found noncash payments fraud increased 37%, from $6.1 billion, in 2015.

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Enforcing AML/KYC Compliance When Legal Precedent Does Not Apply

PYMNTS

This process removes the necessity of submitting documents in person and also results in a faster, more automated and secure way to verify users’ identities. This demand and the security benefits are not the only factors driving biometric AML/KYC tools’ adoption, either. Digital Innovation, Legal implementation.