Institution

Canadian tech firm Coconut Software secures $22m Series B funding

Canadian tech firm Coconut Software has raised $22 million (CAD 28 million) in Series B funding. Coconut CEO Katherine Regnier The round was led by Toronto-based growth equity firm Klass Capital, with participation from Coconut’s entire roster of existing investors including Information Venture Partners, ScaleUp Ventures, Conexus Venture Capital Fund and Bay Partners. Coconut provides appointment scheduling and lobby management software for financial institutions which it claims reduces “no shows” and wait times for customer appointments and boosts conversion rates. The Saskatoon firm, whose clients include RBC Royal Bank, Arvest Bank,

US de novo commercial bank Genesis goes live in California

Genesis Bank, a California-chartered de novo bank, has launched in the US to provide services for commercial clients. Genesis Bank received its licence earlier this year, and launched in August The bank says it is focused on servicing small and medium-sized enterprises (SMEs), the owners of SMEs, and owners and investors of income-producing properties. Headquartered in Newport Beach, Genesis aims to serve primarily the Orange and Los Angeles counties of California, as well as the Riverside and San Bernardino counties. Stephen Gordon, founding chairman and chief executive at the bank,

Cross River Bank to power Openpay’s US expansion

‘Buy now, Pay smarter.’ company Openpay, and its subsidiary Opy USA, Inc., have strategically partnered with Cross River Bank, a technology-driven financial services organization that provides core infrastructure and embedded financial solutions, to offer Opy’s differentiated next-generation “Buy Now, Pay Smarter” products for consumer banking loans.While many traditional Buy Now Pay Later programs cater primarily to small, retail purchases, Opy’s Buy Now, Pay Smarter services are aimed at a broad swath of consumers to help them afford and pay for crucial life needs with transparency and confidence. As Opy advances

Inspiration4 crew describes “incredible perspective” from space

The Inspiration4 crew downlinks a live update from SpaceX’s Crew Dragon Resilience spacecraft. Credit: SpaceX On their final full day in space Friday, the all-civilian Inspiration4 crew circling Earth inside a SpaceX Dragon capsule chatted with Tom Cruise, rang the closing bell on the New York Stock Exchange, and downlinked a live video update showing views outside their cupola dome window. The crew members demonstrated acrobatic spins in the microgravity environment aboard the Crew Dragon spacecraft, described scientific experiments that are part of the mission, and showed off artistic efforts,

Deloitte Survey: Crypto Will Rival or Replace Fiat Within 10 Years

In brief The majority of finance professionals thought that blockchain has a lot of potential in their businesses. But many said there are major obstacles, such as old infrastructure, patchy regulatory frameworks, and glaring cybersecurity risks. Deloitte's annual global blockchain survey has found that 76% of finance professionals think that digital assets “will serve as a strong alternative to, or outright replacement for, fiat currencies in the next 5–10 years.”Deloitte is one of the “Big Four” accounting firms along with KPMG, EY, and PwC. It’s conducted a blockchain survey for

Blockchain platform commercializes digital bank guarantees in Australia

The Lygon blockchain platform, which runs on IBM Public Cloud, has reportedly successfully conducted its pilot since last year with Australian banks ANZ, Commonwealth Bank of Australia (CBA) and Westpac and a group of 20 Australian businesses. Banks are expected to issue bank guarantees in just one day once they implement Lygon compared to the current paper-based guarantees that can take a month. The three Australian banks and retailers Scentre Group and IBM are planning to expand the Lygon platform for commercial use, according to a report on Sept 1.A bank

ETC Labs believes regulation is the key to preventing future 51% attacks

Responding to numerous 51% attacks on the Ethereum Classic blockchain, ETC Labs said that it's time to bring regulation to hashpower rental marketplaces, citing the fact that at least two of the attacks were perpetrated by renting hash power through NiceHash — a claim that has been confirmed by both NiceHash and ETC Labs. ETC Labs CEO Terry Culver also shared with Cointelegraph that according to the information that was provided by CipherTrace, which was hired to investigate the attacks, the attackers used proceeds from the first attack to rent hashpower for

Three of Australia’s “big four” banks bring bank guarantees on blockchain

Three of the “big four” Australian banks are forming a new company called Lygon to digitize bank guarantees using blockchain technology. Bank guarantees are an official contract between a debtor and a financial institution. It ensures the debtor and the debt provider that the debt will be paid on time under all circumstances.The Australia and New Zealand Banking Group Limited, Commonwealth Bank of Australia and Westpac Banking Corporation along with two other shareholders — the Australian shopping center company Scentre Group and technology behemoth IBM — are forming the company after