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Changing UK Cybercrime Patterns Outlined in PPC Shield Report

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British individuals and businesses have been scammed for £5.7m in losses from just under 15,000 reported cybercrime incidents so far in 2021, research from click fraud prevention firm PPC Shield reveals. Malicious hacking, fraudulent use of social media accounts and email scams are the top methods, accounting for 43 per cent of all reported activity. Malware/viruses, personal hacking and extortion are also common.

The under-40 crowd has reported the most incidents this year with 5,000, suggesting scammers and hackers are predominantly targeting those used to juggling multiple social media accounts, email addresses and banking apps.

While corporate cybercrime only accounts for 10 per cent of reported incidents, the £1.9 million in damages are one-third of the total figure.

The effects take a mental toll. According to ONS data from the Crime Survey for England and Wales (CSEW), 72 per cent of victims said they had been emotionally affected by their experiences, with almost one third indicating a moderate to severe impact –  mostly annoyance and anger. Ten per cent said they experienced anxiety, depression, fear and sleep disruption.

Four out of five offences (81 per cent) were committed by an individual (not an organization) that was unknown to the victim. According to Google, malware is being used less than at any point since 2007, but phishing websites have grown by 750 per cent. One in three folks who lost money learned through their financial institution.

When non-cyber assisted fraud is factored in, UK authorities have so far received 253,736 reports totalling £1.2 billion in losses this year. They have issued public warnings of phishing scams conducted over the course of the COVID-19 pandemic, with an increase in fraudulent text and calls to mobile phones, as individuals posing as bank employees, HMRC and even the NHS charging for fake COVID tests and track and trace.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
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Source: https://www.crowdfundinsider.com/2021/07/178444-changing-uk-cybercrime-patterns-outlined-in-ppc-shield-report/

Crowdfunding

MX and Mahalo Technologies to Provide Financial Data Solutions to Credit Unions

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MX and Mahalo Technologies have announced a new partnership.

Through their partnership, the companies will aim to provide financial data solutions, insights and actionable tools to credit unions. They will also focus on supporting members to become financially independent.

MX, which is the financial data platform and key player in modern connectivity, will be working closely with Mahalo Technologies, a provider of online and mobile banking services for credit unions.

As reported by Finextra, Mahalo and MX will offer financial service providers with a comprehensive, intuitive experience from the two firms’ combined tech platforms via deep technology integrations into core banking – through Mahalo – and data enhancement – via MX – enabling and supporting actionable insights to promote growth and member engagement.

PrimeWay Federal Credit Union, established in 1937 and with eight different locations in the Houston area, will reportedly be the first mutual client of Mahalo and MX.

Denny Howell, COO, Mahalo Banking, stated:

“With the Mahalo team having over 50 years of combined experience working for credit unions, we were impressed with the MX financial data platform. It’s robust features fit well with the information credit unions want to share with and give their members access to. It was only natural to forge this partnership to continue to bring an enhanced and even stronger combined solution to our mutual partner credit unions.”

Don Parker, EVP of Partnerships, MX, remarked:

“Our commitment to aid in transforming the digital experience for all financial institutions made it an easy decision to partner with Mahalo. We have shared resources, a referral partner agreement, and an integration between MX and Mahalo that will allow mutual clients to be more competitive with the use of technology and enhance the financial wellbeing and engagement of their members.”

MX Technologies, the financial data platform and leader in modern connectivity, aims to assist organizations with connecting to the world’s financial data and “turn raw, unstructured data into their most valuable asset to deliver intelligent and personalized money experiences.”

MX connects over 16,000 financial institutions and Fintech firms offering “the industry’s most reliable and secure data connectivity network.”

As noted by its management, MX Technologies enhances financial data by “cleansing, categorizing, and adding metadata that empowers organizations to deliver personalized experiences, reduce fraud, approve loans faster, and help customers save and invest smarter.”

Established in 2010, MX Technologies claims to be one of the fastest-growing Fintech companies. It reportedly “powers 85% of digital banking providers, as well as thousands of banks, credit unions, and fintechs, with a combined reach of over 200 million consumers.”

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.crowdfundinsider.com/2021/09/180479-mx-and-mahalo-technologies-to-provide-financial-data-solutions-to-credit-unions/

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Crowdfunding

MX and Mahalo Technologies to Provide Financial Data Solutions to Credit Unions

Published

on

MX and Mahalo Technologies have announced a new partnership.

Through their partnership, the companies will aim to provide financial data solutions, insights and actionable tools to credit unions. They will also focus on supporting members to become financially independent.

MX, which is the financial data platform and key player in modern connectivity, will be working closely with Mahalo Technologies, a provider of online and mobile banking services for credit unions.

As reported by Finextra, Mahalo and MX will offer financial service providers with a comprehensive, intuitive experience from the two firms’ combined tech platforms via deep technology integrations into core banking – through Mahalo – and data enhancement – via MX – enabling and supporting actionable insights to promote growth and member engagement.

PrimeWay Federal Credit Union, established in 1937 and with eight different locations in the Houston area, will reportedly be the first mutual client of Mahalo and MX.

Denny Howell, COO, Mahalo Banking, stated:

“With the Mahalo team having over 50 years of combined experience working for credit unions, we were impressed with the MX financial data platform. It’s robust features fit well with the information credit unions want to share with and give their members access to. It was only natural to forge this partnership to continue to bring an enhanced and even stronger combined solution to our mutual partner credit unions.”

Don Parker, EVP of Partnerships, MX, remarked:

“Our commitment to aid in transforming the digital experience for all financial institutions made it an easy decision to partner with Mahalo. We have shared resources, a referral partner agreement, and an integration between MX and Mahalo that will allow mutual clients to be more competitive with the use of technology and enhance the financial wellbeing and engagement of their members.”

MX Technologies, the financial data platform and leader in modern connectivity, aims to assist organizations with connecting to the world’s financial data and “turn raw, unstructured data into their most valuable asset to deliver intelligent and personalized money experiences.”

MX connects over 16,000 financial institutions and Fintech firms offering “the industry’s most reliable and secure data connectivity network.”

As noted by its management, MX Technologies enhances financial data by “cleansing, categorizing, and adding metadata that empowers organizations to deliver personalized experiences, reduce fraud, approve loans faster, and help customers save and invest smarter.”

Established in 2010, MX Technologies claims to be one of the fastest-growing Fintech companies. It reportedly “powers 85% of digital banking providers, as well as thousands of banks, credit unions, and fintechs, with a combined reach of over 200 million consumers.”

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.crowdfundinsider.com/2021/09/180479-mx-and-mahalo-technologies-to-provide-financial-data-solutions-to-credit-unions/

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Draper Esprit Updates on Performance, Cazoo Goes Public

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Draper Esprit (LSE:GROW), a publicly-traded venture capital firm, has distributed an update on investment activity. Key to its results is the exit opportunity from Cazoo, a firm that was recently listed on the NYSE generating $1 billion in proceeds. Cazoo’s current market cap is around $7 billion.

Draper Esprit said that it committed a further £25 million in a $160 million Series C round in payment technology provider Form3. The round was led by Goldman Sachs.

Founded In 2016, Form3 is a payment technology provider and offers an alternative to the traditional payment infrastructure model. Form3 is currently utilized by some of the UK and Europe’s biggest Tier 1 banks as well as Fintechs.

Draper Esprit said that based on the valuation implied by the fundraising, Form3’s gross fair value holding (before carry deductions) is approximately £58 million. Excluding the £25 million of newly invested capital, this is an uplift of approximately £23 million to the March 2021 gross fair value of £10 million.

In September, Draper Esprit participated with another £15 million investment in an $80 million Series B extension round in CoachHub.

CoachHub is a global talent development platform that leverages AI to match individuals with businesses.

Regarding Cazoo, the company announced its business combination with AJAX I and its listing on the NYSE. Cazoo (NYSE: CZOO) received $1 billion in proceeds before expenses from the transaction. Cazoo is an online car retailer which has delivered over 35,000 cars to customers across the UK and mainland Europe.

Based on the share price of $9/share the Cazoo’s gross fair value holding (before carry deductions) is approximately £37 million, which is an increase of approximately £11 million to the March 2021 gross fair value of £26 million.

Martin Davis, CEO of Draper Esprit, said their recent activity has demonstrated the strength of their portfolio:

“Cazoo’s IPO is further evidence of this, as in only three years, it has established itself as one of the most significant players in the European used car market. As we recover from the pandemic, the technology sector continues to go from strength to strength and we are well positioned to continue to support the most promising companies.”

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.crowdfundinsider.com/2021/09/180502-draper-esprit-updates-on-performance-cazoo-goes-public/

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Crowdfunding

Draper Esprit Updates on Performance, Cazoo Goes Public

Published

on

Draper Esprit (LSE:GROW), a publicly-traded venture capital firm, has distributed an update on investment activity. Key to its results is the exit opportunity from Cazoo, a firm that was recently listed on the NYSE generating $1 billion in proceeds. Cazoo’s current market cap is around $7 billion.

Draper Esprit said that it committed a further £25 million in a $160 million Series C round in payment technology provider Form3. The round was led by Goldman Sachs.

Founded In 2016, Form3 is a payment technology provider and offers an alternative to the traditional payment infrastructure model. Form3 is currently utilized by some of the UK and Europe’s biggest Tier 1 banks as well as Fintechs.

Draper Esprit said that based on the valuation implied by the fundraising, Form3’s gross fair value holding (before carry deductions) is approximately £58 million. Excluding the £25 million of newly invested capital, this is an uplift of approximately £23 million to the March 2021 gross fair value of £10 million.

In September, Draper Esprit participated with another £15 million investment in an $80 million Series B extension round in CoachHub.

CoachHub is a global talent development platform that leverages AI to match individuals with businesses.

Regarding Cazoo, the company announced its business combination with AJAX I and its listing on the NYSE. Cazoo (NYSE: CZOO) received $1 billion in proceeds before expenses from the transaction. Cazoo is an online car retailer which has delivered over 35,000 cars to customers across the UK and mainland Europe.

Based on the share price of $9/share the Cazoo’s gross fair value holding (before carry deductions) is approximately £37 million, which is an increase of approximately £11 million to the March 2021 gross fair value of £26 million.

Martin Davis, CEO of Draper Esprit, said their recent activity has demonstrated the strength of their portfolio:

“Cazoo’s IPO is further evidence of this, as in only three years, it has established itself as one of the most significant players in the European used car market. As we recover from the pandemic, the technology sector continues to go from strength to strength and we are well positioned to continue to support the most promising companies.”

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.crowdfundinsider.com/2021/09/180502-draper-esprit-updates-on-performance-cazoo-goes-public/

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