Today In Digital-First Banking: Ternio’s BlockCard Collaborates With Paxful For Debit Card; Fed Changes Main Street Lending Terms
In today’s top news in digital-first banking, BlockCard is teaming with peer-to-peer (P2P) bitcoin marketplace Paxful for a new crypto debit card, while the Federal Reserve Board has modified the terms of its Main Street Lending Program (MSLP). Plus, Surecomp has introduced financial crime solution ThetaRay as its latest partner for its marketplace platform.
BlockCard, a digital currency FinTech platform by Ternio, is teaming with peer-to-peer (P2P) bitcoin marketplace Paxful to debut a new digital currency debit card, which lets users take out money from an automated teller machine (ATM), among other features. The Paxful card is rolling out in the United States at first, but the Georgia-based Ternio reportedly has plans to take the card international.
The Federal Reserve Board has changed the terms of its Main Street Lending Program (MSLP) to make it obtainable for smaller companies. The three Main Street facilities’ minimum loan sizes have been decreased from $250,000 to $100,000 and the fees have changed accordingly. As smaller companies struggle financially because of the coronavirus, extended revenue shortfalls could impact the millions of people who work for them, the Fed said in announcing the new terms.
Surecomp, which works in international trade finance solutions for banks, has unveiled financial crime solution ThetaRay as its latest partner for its marketplace platform. ThetaRay will be completely connected with Surecomp’s back-office finance offerings, and it will be accessible through open application programming interface (API) connectivity. ThetaRay, which entered the market in 2019, works with analytics based on artificial intelligence (AI) to detect suspicious behavior and real-time anomalies locate risks.
Serko, a business travel and expense management company, has rolled out is Zeno Expense tool in North America, providing clients with a new choice for B2B travel management. “With COVID impacting businesses in a multitude of ways, our team at Serko has renewed our dedication to deliver a solution that makes it easier for all stakeholders, from expense filers to finance leaders, answering the challenges of today and into the future,” Serko CEO Darrin Grafton said in a release.