After Equifax breach, US watchdog says agencies aren’t properly verifying identities

A federal watchdog says the government should stop relying on the credit agencies to verify the identifies of those using government services. In a report out this week, the the Government Accountability Office said several government departments still rely on the credit agencies — Equifax, Experian and TransUnion — to check if a person is […]

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Binance begins to restrict US users ahead of regulatory-compliant exchange launch

The world’s largest crypto exchange is going legit. Binance, which processes over $1 billion on a daily basis and for so long has embodied crypto’s wild west culture, announced that it will launch a U.S-based service — but, in the meantime, it is implementing restrictions for U.S. passport holders worldwide and those based in the […]

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Colombian point-of-sale lender ADDI nabs $12.5 million from Andreessen Horowitz

Andreessen Horowitz <3 Latin American startups. Latin America is the only region outside of the U.S. where the venture firm is routinely investing capital and it has just made another commitment, doubling down on its early stage support for the point-of-sale lending startup, ADDI. ADDI picked up $12.5 million in new financing in April of […]

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Card readers at electric vehicle charging stations will weaken security, researchers say

Electric vehicle charging stations could become one of the next big targets for fraudsters — thanks to proposals in several state that researchers say would weaken their security. Most electric vehicle (EV) charging stations rely solely on a credit card linked to an app or through contactless payments with RFID-enabled credit cards or through a […]

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Student loan refinancing startup Splash Financial raises $4.3 million

Splash Financial, a Cleveland-based startup that has partnered with the Pentagon Federal Credit Union to refinance student loans, has raised $4.3 million in a round of venture financing. The round was led by CUNA Mutual Group, a PenFed partner, and Northwestern Mutual Future Ventures, the corporate investment arm of Northwestern Mutual. As student loan debt […]

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Fintech platform Synapse raises $33M to build ‘the AWS of banking’

Synapse, a San Francisco-based startup that operates a platform enabling banks and fintech companies to easily develop financial services, has closed a $33 million Series B to develop new products and go after international expansion. The investment was led by Andreessen Horowitz with participation from existing backers Trinity Ventures and Core Innovation Capital . Synapse […]

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Step raises $22.5M led by Stripe to build no-fee banking services for teens

The smartphone revolution has well and truly disrupted the world of banking. A wide range of startups have cropped up that have completely removed the need to make visits to physical branches to open accounts, make deposits, pay for things, and ask for loans: you can now do all of these on the go by […]

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Line teams up with Visa to boost its mobile payment service

Messaging app Line has partnered with Visa to bring traditional financial clout to its mobile payment service. The deal will see Line Pay become compatible with Visa’s 54 million merchant partner locations worldwide, boosting the service outside of its native Japan, where it has been pitched heaviest so far and where Line claims 80 million […]

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Connected bike and treadmill-maker Peloton files confidentially for IPO

Exercise tech darling and service provider Peloton has filed for IPO with a confidential draft submission of its S-1 statement to the SEC on Wednesday. The company announced the news in a press release, and did not disclose the terms of its initial public offering in the release. Peloton’s entry into the market was via […]

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