Big News: Varo Money Becomes First US Fintech to Receive a National Bank Charter

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Varo Money, Inc. has been granted its national bank charter from the Office of the Comptroller of the Currency (OCC) and secured regulatory approvals from the FDIC and Federal Reserve to open Varo Bank N.A. This represents the first consumer Fintech in the US to be granted a national charter

From Big News: Varo Money Becomes First US Fintech to Receive a National Bank Charter:

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Germany to begin rollout of open national digital identity service ‘later this year’ • NFCW

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“After downloading and installing the Mobile ID application distributed by Bundesdruckerei from Play Store, Galaxy S20 owners can tap their near field communications (NFC) enabled National ID card on the back of their phone to verify their identity and get started.

“Once verified, the mobile eID will be stored securely on the smartphone and can be used to open a bank account, use eGovernment services and more.”

Once enrolled, citizens’ identity data will be stored in an embedded secure element (eSE) on the user’s Galaxy S20, S20+ or S20 Ultra smartphone — “with other Samsung smartphones to follow”.

From Germany to begin rollout of open national digital identity service ‘later this year’ • NFCW:

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National facial ID service launches, DBS to use it for secure mobile sign-ups, Tech News & Top Stories – The Straits Times

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From Wednesday (July 29), bank account holders can scan their faces on their phones to apply for an online banking account with the launch of a national facial identification service.

Dubbed SingPass Face Verification, the captured facial image will be matched against the national biometric database.

From National facial ID service launches, DBS to use it for secure mobile sign-ups, Tech News & Top Stories – The Straits Times:

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King Con: He didn’t just scam one woman out of her savings… police believe he did it to hundreds | Daily Mail Online

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He was Richard Robinson, a conman who had at least 30 aliases and a criminal career spanning decades, in which he duped a string of innocent women, netting close to £1 million.

From King Con: He didn’t just scam one woman out of her savings… police believe he did it to hundreds | Daily Mail Online:

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Fintech: The Fourth Platform – Part One

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Let’s start by defining the term “fintech.” So far it has meant, in effect, taking a well-known financial product — a mortgage, the ability to accept payments, life insurance, etc. — and building software to make it digitally accessible as well as easier and more elegant to buy and use.

From Fintech: The Fourth Platform – Part One:

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How Does Peggy Prove To Victor The Banker That Her Salary is between $30K and $100K Without Revealing It? | by Prof Bill Buchanan OBE | ASecuritySite: When Bob Met Alice | Jul, 2020 | Medium

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There are many things in life ask if we have something that is in a certain range, such as for our age, our salary or even our weight. But when we answer the question we often have to give away the actual value. So how can we take our value, and show someone that the range is in a certain range? Well for this we can use range proofs.

From How Does Peggy Prove To Victor The Banker That Her Salary is between $30K and $100K Without Revealing It? | by Prof Bill Buchanan OBE | ASecuritySite: When Bob Met Alice | Jul, 2020 | Medium:

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Sainsbury’s news: SmartShop Mobile Pay contactless shopping rolled out | Express.co.uk

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The app has had a successful start in the supermarket chain; according to Sainsbury’s, SmartShop now accounts for more than half of sales in some of its stores.

From Sainsbury’s news: SmartShop Mobile Pay contactless shopping rolled out | Express.co.uk:

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