Monthly Archives: August 2022

Savana raises a fresh round of capital to digitize banks’ services

Malvern, Pennsylvania–based Savana, a company building financial software products for legacy banks, today announced that it raised $45 million. A portion of the capital — $10 million — was debt, while the rest was a Series A equity tranche led by Georgian Capital Partners. CEO Michael Sanchez told TechCrunch that the proceeds will be put…

Hackers abuse ‘chaotic’ Nomad exploit to drain almost $200M in crypto

Cross-chain messaging protocol Nomad has become the target of crypto’s latest nine-figure attack after hackers abused a “chaotic” security exploit to steal almost $200 million in digital assets. Nomad, a token bridge that allows users to send and receive tokens between Avalanche (AVAX), Ethereum (ETH), Evmos (EVMOS), Moonbeam (GLMR) and Milkomeda C1 blockchains, was attacked…

Microsoft launches Outlook Lite for low-powered Android phones

Microsoft has launched its lightweight Outlook Lite Android app, which is suitable for low-end Android devices and regions with data connectivity issues. The app has a download size of less than 5MB compared to more than 80MB (depending on the device) for the regular version. The app is currently available in select countries including Argentina,…

Crypto token bridge Nomad completely drained as users turn on company

Another blockchain bridge has been compromised, with this one ending up losing approximately $200 million – apparently due to the greed of its users. Nomad was exploited earlier this week, and the protocol lost pretty much everything it had, despite no malware or cyberattacks apparently being involved. While bridge exploits are not that new in…

These 3 Canadian banks offer the most in-demand emerging mobile feature

This is a preview of Insider Intelligence’s 2021 Canada Mobile Banking Emerging Features Benchmark, available exclusively to subscribers. In addition to mobile banking coverage, Insider Intelligence publishes thousands of pieces of content, including research reports, charts, and forecasts on the financial services industry. You can learn more about becoming a client here. The Canadian banks…