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Bitcoin Daily: DOJ, IRS Investigate Binance Crypto Exchange; Crypto Theft Falls, DeFi Fraud Spikes

Cryptocurrency exchange Binance Holdings is now under investigation by the Department of Justice (DOJ) and the IRS as they try to make some order out of a mostly unregulated market, Bloomberg reported. Binance has mostly avoided regulation, much the same as the general industry it works in. Binance is incorporated in the Cayman Islands and has an office in Singapore. But the company says it doesn’t have a central headquarters,...

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Today In Digital-First Banking: Treasury Prime Lands $20 Million; Rho Technologies Reveals Corporate Card

In today’s top news in digital-first banking, Treasury Prime closed on a $20 million Series B insider funding round, while Rho Technologies is launching the Rho Card. Plus, U.S. Bank has joined with Plaid in an open finance partnership. Banking-as-a-Service Startup Treasury Prime Notches $20 Million Treasury Prime, the Banking-as-a-Service (BaaS) upstart, wrapped up a $20 million Series B insider funding round that it will harness to...

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Time for Mid-Sized Banks to Redefine the Customer Experience

Fast, efficient digital services enable mid-sized banks to offer customers a truly personalised experience and new ways to strengthen their ties with the local community  By Derek Corcoran, chief experience officer, Temenos For banking customers, good service now means completing a quick and painless transaction online. The experience of the last year, with branches closed or offering reduced services due to COVID-19 restrictions, has...

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Big US Banks Extending Credit To People Without Scores

JPMorgan Chase, Wells Fargo and U.S. Bancorp are among the big U.S. banks working on a government initiative to get credit into the hands of people with no or low credit scores, The Wall Street Journal reported on Thursday (May 13), citing sources. In order to get a clearer picture of how financially responsible people, the banks indicated that they will exchange customer deposit data from checking and savings accounts and extend...