Sector Updates

Online lender SoFi (Social Finance) is settling a class-action lawsuit by paying a $2.4m fine.

France is receiving a new bitcoin ATM with GrupoBTC France, a subsidiary of ATM Bitcoin Exchange, installing the machine in the southern city of Montpellier.

DriveWealth, a New Jersey startup providing retail investors and ordinary consumers with access to the US stock market, is expanding its APIs to cater to investment advisors.

Taiwan’s banks are taking another step towards creating a cashless society and partnering with mobile payments provider Mozido to adopt its HCE technology.

Online payroll and health benefits platform Gusto has announced a price increase amid a recent revamp of its product.

Peer-to-peer lending firm Faircent says it’s attracted more than 6,000 registered lenders and 26,000 borrowers.

UK challenger bank Mondo has received a banking licence from UK regulators.

Cloud-based trading technology and financial services provider TORA has bolstered its sales, operations and IT infrastructure in the US to meet high demand.

Dublin-based fintech startup Touchtech will hire 40 technical and marketing professionals in the next three years after sealing its first deal.

The global market for retail point-of-sale (POS) terminals is projected to shoot up to $33.4bn in the next five years as mobile payments are overtaking the sector.