Cryptocurrency startup Anchorage granted provisional federal charter bank approval – SiliconANGLE News

Cryptocurrency startup Anchorage granted provisional federal charter bank approval  SiliconANGLE News
“startups when:1d” – Google News

Cincy Inno – Cincinnati startup backed by Mark Cuban, CincyTech granted key FDA designation – Cincinnati Business Courier

Cincy Inno – Cincinnati startup backed by Mark Cuban, CincyTech granted key FDA designation  Cincinnati Business Courier
“startups when:1d” – Google News

[Varo Money in Business Insider] Varo, First Consumer Fintech Granted National Bank Charter in the US, goes live with Temenos Cloud Technology

“Varo was founded with a clear vision to deploy a more efficient business model and cutting-edge technology in order to create a new kind of bank – one that is wholly designed around the financial health and wellbeing of the everyday American consumer. From the start, we knew this vision needed to be supported by having a national bank charter and an innovative technology partner like Temenos. After a three and a half year journey, I’m thrilled that Varo has made history as the first US consumer fintech to receive a national bank charter. Varo Bank is now live using our new industry-leading technology stack, developed in partnership with Temenos. Varo now has a historic opportunity to deliver the tech-driven banking products and services that will help millions of Americans make progress in their financial lives.”

Read more here.

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If you are granted stock options as part of your compensation package, put money away each month for when you need to exercise them.

I say this because I did NOT do this and now I need to shell out over $ 7k that I didn’t really plan on spending.

Even if you stay for a while and you’re at a company when they have a successful exit, in order to take advantage of long-term capital gains tax, you NEED to exercise (ie purchase) them at least one year ahead of time. If you don’t, you’ll likely end up exercising and selling in one transaction which gets taxed at the higher short-term capital gains rate. If your stock has real value, this will make a significant difference in how much money you take home when all is said and done.

And if you don’t end up exercising at all then you have a nice surprise savings account 🙂

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Startups – Rapid Growth and Innovation is in Our Very Nature!

Funding Xchange, Onfido, Codat and 3 more UK fintechs granted €22.2M funding

As per the UK government, out of 5.9 million private businesses in 2019, more than 99 percent are small or medium-sized businesses (SMEs). To ensure that these SMEs thrive, the Banking Competition Remedies Ltd (BCR) is tasked with implementing the State Aid Alternative Remedies Package (ARP) of £775 Million (€859.8). 

The aim of BCR’s Fund Pool E Application Period One is to facilitate the commercialisation of financial technology that is relevant to SMEs. It recently declared the results of its Innovation Fund Pool E grant process wherein six UK-based companies, including Codat, have won a combined value grant of €22.2 million.

Six UK-based companies share €22.2 million grant

A total of six companies have been awarded the combined grant of €22.2 million in the latest  Fund Pool E grant. Two of the six companies, namely Funding Xchange Ltd and Onfido Limited, scooped up €5.55 million each. While Codat, ezbob, Fractal Labs and Previse were each granted €2.77 million. BCR says it received 92 applications from 67 applicants for the Pool E Application Period One process. The above mentioned six companies will be invited to enter into a Capability and Innovation Fund Agreement with BCR. 

Codat to open up its API on a self-serve basis

Codat states, in a media release, that the latest funding will be utilised to open up its API on a self-serve basis. This is said to allow a larger number of fintechs to build new products and services for supporting SMEs. Codat’s API enables connecting the internal systems of small businesses to banks, fintechs and other financial institutions, allowing business data to flow back and forth in real time. The company also recently raised €8.79 million in venture funding.

“Developers, not bankers, are going to be the people to build the financial products we need for small businesses here in the UK. BCR has recognised that by awarding this money to Codat, they are benefiting potentially hundreds of products instead of just one,” Pete Lord, CEO at Codat says. “With BCR’s backing we’ve been able to move much quicker, to ultimately help support British SMEs – and right now, that’s never had more significance. It’s hugely encouraging to see our strong progress recognised alongside the new set of innovators awarded in this latest round.” 

The fresh grant of €2.77 builds on the original €5.55 million Codat received from BCR in 2019. The company is currently on track to deliver all of its commitments attached to the previous funding and is confident of over-delivering on its target of at least 100,000 UK SMEs benefiting from new integrated products and services developed on the Codat platform. 

Image credits: Codat

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Startups – Silicon Canals

[Varo Money in Fintech Magazine] Varo is granted its bank charter and a US FinTech milestone

“The ability to operate as a full-service national bank gives Varo more freedom to deliver the kind of innovation and allyship that many Americans have never had from their bank before.

Read more here.

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[Trusona in Biometric Update ] Trusona granted U.S. patent for anti-replay technology for passwordless authentication

The United States Patent and Trademark Office (USPTO) has issued a patent for Trusona’s anti-replay technology for passwordless authentication, the company announced.

Read more here.

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[Tala in Security Boulevard] Innovating Application Security: Tala’s Latest Patent is Granted

Applications and users are the weakest links in enterprise security. Tala’s innovation
transforms how we approach securing them.

Read more here.

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