Fintech, Finance, Technology, Banking Highlights – 8 November 2017
Micro-investing app Acorns acquires Portland’s Vault
Acorns, the country’s fastest-growing micro-investing app with more than 2.2 million investment accounts, has just announced the strategic acquisition of Vault, a Portland-based tech company, which lets customers automatically invest part of their paycheck into a retirement fund.
Through the acquisition, Acorns will launch the first IRA designed for the up-and-coming, Acorns Later. Current Acorns customers can join the waitlist today for access to the new product, which will be available in early 2018.
“It’s our mission to look after the financial best interests of the up-and-coming, and two out of three eligible Americans aren’t saving for later in life,” said Noah Kerner, CEO of Acorns. “This has to change. Don’t be intimidated. Don’t wait! Later is yours, and it has incredible potential. Acorns Later will help you reach it.”
Coinsilium signs mobile payments MoU with UMT
Coinsilium Group Limited (NEX:COIN), the blockchain venture builder and investor that finances and manages the development of early-stage blockchain technology companies, is pleased to announce that it has signed a Memorandum of Understanding with UMT United Mobility Technology AG (“UMT”), a German company listed on XETRA, a trading venue operated by the Frankfurt Stock Exchange, and specialised in the development and implementation of individual mobile payment and blockchain solutions for large-scale customers such as PAYBACK (American Express Group).
Under the MoU agreement, Coinsilium will, for a period of 3 months, work with UMT to explore the potential to develop a B2C solution for a blockchain-based digital token to function as a medium of exchange specifically focused on mobile payments. Both parties believe there are a number of opportunities to explore the development of blockchain technology solutions for mobile payment services and in the structuring of digital token offerings.
Saque e Pague unveils Brazil’s first digital bank branch
Saque e Pague, a Brazilian multiple service self-service network, is partnering with Diebold Nixdorf (NYSE: DBD) to transform the consumer experience and drive connected commerce through digitalization with a new digital bank branch.
The first of its kind in Brazil, the new branch is equipped with cash recycling technology, video conferencing, 2D barcode readers, near field communication (NFC) and biometric authentication to enable uniquely personalized and secure consumer experiences.
“The new digital branch is completely built around the consumer experience,” said Nori Lermen, executive director, Saque e Pague. “With Diebold Nixdorf’s technology and services, we are able to reimagine the consumer journey and introduce new solutions and services to the market.”
US Bank to use geolocation to authorise card transactions
ust in time for the holiday season, U.S. Bank has added location services to the U.S. Bank Mobile App, offering U.S. Bank Visa credit and debit card customers technology that uses their phones’ location to help verify whether their mobile devices and credit or debit card are in the same location.
By using the mobile device’s location in the authorization decision, U.S. Bank can help give consumers the confidence that their transactions will be approved, minimizing disruptions and further reducing the risk of fraud. The bank’s easy-to-use mobile app automatically provides consumers with this added layer of convenience and protection. Users will have the ability to opt out of the feature.
