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Archive · August 28, 2026

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Story 01

Socure Raises $156M and Acquires Fravity to Advance AI Fraud Detection

Socure secured $156 million at a $5.2 billion valuation and acquired AI fraud startup Fravity, integrating its advanced generative AI and behavioral biometrics into the RiskOS platform. This technology enables Socure to detect synthetic identities and deepfake attacks with greater accuracy, addressing emerging fraud vectors that challenge rivals like Alloy and Onfido. Banks and fintechs can expect more robust identity verification tools, while Socure is likely to pursue direct integrations with core banking platforms and payment processors to expand its reach.

Source: Crunchbase News
Also Worth Knowing
№02

Affirm and Shopify Bring Shop Pay Installments to Australia, Targeting Afterpay’s Turf

Affirm and Shopify have launched Shop Pay Installments in Australia, enabling consumers to use Affirm-powered BNPL at Shopify merchants. This expansion puts direct pressure on local BNPL leaders like Afterpay, intensifying competition for merchant integrations and consumer loyalty. Australian merchants now have more choice in installment providers, which could drive down fees and improve terms. Afterpay and Zip are expected to introduce new incentives or product features to defend their market share.

Source: PYMNTS
№03

BitGo Acquires NYDIG’s Institutional Trading Arm to Expand Crypto Derivatives

BitGo has acquired NYDIG’s institutional trading business, adding 30 employees and broadening its derivatives offerings for institutional clients. With this move, BitGo can now offer a wider range of crypto trading and settlement services, positioning itself as a stronger competitor to Coinbase Prime and Galaxy. Asset managers and hedge funds will benefit from consolidated access to spot and derivatives trading, while BitGo focuses on integrating NYDIG’s technology stack and client relationships.

Source: The Block
№04

UK Government Directs Bank of England to Prioritize Digital Currency Innovation

The UK Government has formally instructed the Bank of England to support payment system innovation, including digital money and stablecoins. This directive is expected to accelerate regulatory frameworks, enabling fintechs and banks to launch digital currency products with clearer compliance guidelines. Payment processors and neobanks may accelerate stablecoin integration, while traditional banks will need to update legacy systems to remain competitive as new pilot programs and consultations roll out.

Source: Finextra
№05

US State Bankers Launch Industry-Owned Blockchain Network to Modernize Payments

Bankers associations from 39 US states are collaborating to build an industry-owned blockchain network designed to streamline interbank settlement and enhance transaction security. This network will allow regional banks and credit unions to bypass traditional clearinghouses like The Clearing House, enabling faster and lower-cost payments. Core banking vendors will need to adapt their systems for blockchain compatibility as pilot transactions and early bank onboarding begin.

Source: Finextra
The Long Memory
“The UK's Faster Payments Service, launched in 2008, was the first national system to enable 24/7 instant bank transfers for both consumers and businesses.

Filed under: Payments History · The Long Memory

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