Financial risk management platform Pillar raises $20M seed in round led by a16z
Pillar’s investors include a16z, Uber CEO Dara Khosrowshahi, Crucible Capital and Gallery Ventures.
Banking
Marquis says over 672,000 people had personal and financial data stolen in ransomware attack
Fintech company Marquis is notifying hundreds of thousands of people that hackers stole their personal and financial information, including their Social Security numbers.
European banks plan to cut 200,000 jobs as AI takes hold
The bloodletting will hit hardest in back-office operations, risk management, and compliance.
Fintech firm Marquis alerts dozens of US banks and credit unions of a data breach after ransomware attack
Marquis said ransomware hackers stole reams of banking customer data, containing personal information and financial records, as well as Social Security numbers, belonging to hundreds of thousands of people. The number of affected people is expected to rise.
UK is delaying Revolut’s banking license over risk management concerns
Revolut’s full banking license is on hold because U.K.’s central bank is concerned whether the startup can maintain its risk controls in the face of its rapid international expansion.