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Open Banking led to a FinTech boom — As Brite raises $60M, account-to-account payment grows

Open Banking led to a FinTech boom — As Brite raises $60M, account-to-account payment grows

The move towards Open Banking payments, especially in the EU, effectively kicked-off the FinTech boom. Open Baking standards meant that FinTech startups could create Wallets and effectively become Banks, or at least “Neo Banks,” in practical day-today-terms. Today, digital wallets are now the leading payment method globally in e-commerce, with a 49% share, according to…

Treasury’s Yellen says US overdependent on China for critical supply chains

Treasury’s Yellen says US overdependent on China for critical supply chains

© Reuters. FILE PHOTO: U.S. Treasury Secretary Janet Yellen addresses a news conference during a G20 finance ministers’ and Central Bank governors’ meeting at Gandhinagar, India, July 16, 2023. REUTERS/Amit Dave/File Photo   USD/CNY 0.00% Add to/Remove from Watchlist Add to Watchlist Add Position Position added successfully to: Please name your holdings portfolio Type: BUY…