By John San Filippo
Because Finopotamus loves the credit union industry, we’ve put together the following list of top fintech headlines for Valentine’s Day 2023.
Sandbox Banking Secures $4.3M in Seed Funding to Streamline Integration for Banks and Credit Unions
Sandbox Banking is the creator of a low-code integration platform for banking. Using the company's Glyue platform, banks and credit unions can accelerate digital transformation using pre-built application programming interface (API) adapters and solution templates to securely connect existing systems with fintech partners. Sandbox Banking has customers across the U.S. and Canada, including multiple credit unions.
Contactless Payment Market Report 2022: Sector to Reach $164.15 Billion by 2030 at a 19.1% CAGR
The "Contactless Payment Market Size, Share & Trends Analysis Report By Type (Smartphone Based Payments, Card Based Payments) By Application (Retail, Transportation, Healthcare, Hospitality), By Region, And Segment Forecasts, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.
According to the report, the global contactless payment market size is expected to reach $164.15 billion by 2030, registering a CAGR of 19.1% during the forecast period. Growing adoption of new payment technologies, such as Host-based Card Emulation (HCE) and Near Field Communication (NFC) for contactless payments, is anticipated to drive the market growth. Furthermore, a significant increase in digitalization and e-commerce platforms across the globe is boosting the growth of the contactless payment market.
GOST Performance Milestone Finally Makes Perpetual KYC Possible for Enterprise Businesses and Financial Institutions
Giant Oak, Inc., the only behavioral science-led machine learning company in the Know Your Customer (KYC) space, announced that in enterprise-wide production implementations, GOST exceeded performance metrics related to platform scale, speed, and accuracy. Enabled by a strategic investment and a multi-year, multi-million-dollar customer contract from one of the largest financial institutions in the world, and with continued participation from lead investor Edison Partners, the Giant Oak team expanded GOST’s industry-leading capabilities to meet the growing demand of Perpetual KYC (pKYC) across customers, counterparties, correspondent relationships, and third-party relationships.
Quantum Computing Inc. Commences Cyber Security Launch as Patent is Awarded Addressing Unconditional Network Security
Quantum Computing (QCI) Inc., a first-to-market full-stack photonic-based quantum computing and solutions company, announced its business initiative on quantum cyber security based on an international patent that gives QCI exclusive rights to the utilization of a basket of network security solutions. The patented technology gives system-wide, zero-trust protections to many communication scenarios involving data sharing among untrusted parties, whose security is derived only from quantum physics laws. Designed to be compatible with existing fiber-based communication infrastructure and satellite-based networks, QCI's quantum cyber security is available today for government and large commercial systems.
Dragonfly Financial Technologies Announces Three Key C-Level Hires as Part of its Double-Digit Growth
Dragonfly Financial Technologies Corp., a digital banking and treasury management fintech, announced three new C-level team hires as part of its double-digit employee growth. Dragonfly welcomed La Dell Diaz as chief legal officer (CLO), Derly Gutierrez as chief information security officer (CISO) and Carolina Reddy as chief administration and risk officer (CARO).
In addition to this growth, Dragonfly has also expanded its partner ecosystem. The company announced strategic partnerships with open finance platforms Ninth Wave and Prolific Banking. The partnerships will help Dragonfly further provide financial institutions with secure, seamless connections to popular fintech applications and industry-leading enrollment-as-a-service solutions.