Red River Wealth Strategies

Wirecard | June 22, 2020

Wirecard shares are once again in free fall on Monday after the German payments firm said it was likely that 1.9 billion euros ($2.1 billion) of cash missing from its balance sheet doesn’t exist. The Munich-based company said it was assessing the “prevailing likelihood” that unaccounted cash balances flagged by auditors at EY last week “do not exist.” The lost funds represent roughly a quarter of Wirecard’s balance sheet....

Reuters | March 24, 2020

UK banks are stepping up fraud prevention measures to protect customers from scammers eager to exploit the coronavirus pandemic with a whole range of new tricks, including fake sales of medical supplies and bogus government relief schemes. With British households effectively on lockdown, some banks said customers had already been caught out by fraudsters posing as banks, government and even health service providers to persuade victims to hand over passwords or other sensitive data. Barclays (BAR...

CORE BANKING

Five Degrees,Swishfund | May 17, 2021

Five Degrees is excited to introduce Swishfund as the first client on °neo, its latest cloud based central banking network. Fintech Swishfund was created in 2016 and offers direct lending products to SME companies in the Netherlands and the United Kingdom. Swishfund will move its current customer base to °neo in order to concentrate on growing its market. Swishfund CEO Jeroen Sonsma says, "At Swishfund, our goal is to provide business lending products in an extremely ...

Investing.com | April 24, 2020

Senior World Bank officials on Friday warned that developing economies could see a deeper recession than currently expected if consumption and investment do not rebound quickly after the coronavirus pandemic. In a blog posting on the Bank's website, officials said the preliminary baseline scenario forecast a "grim" 2% drop in economic output in developing countries, the first contraction in these economies since 1960 and a sharp swing from average growth of 4.6% over the las...