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  Fill in the form to download the IBSView on Covid-19 impact on banks, and fixes. The black swan opportunity.

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London-based Alternative Derivatives Exchange (ADE) announced today the appointment of David Hardy as its Chairman. The new Chairman will be responsible for maintaining the company’s standards of service and...

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Coinbase has announced that the company now supports OmiseGO (OMG) at Coinbase.com and in the Coinbase Android and iOS apps. Its standalone, independently-capitalized business Coinbase Custody has announced the...

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Greenpro Capital, a multinational conglomerate with a portfolio of businesses, announced that it has entered into a non-binding Letter of Intent with First Bullion Holdings and its subsidiaries (First...

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Financial institutions (FIs) in Singapore will be allowed to reopen more customer service locations from June 2, 2020. This will be carried out with strict safety management requirements in...

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Cyprus-based machine learning, verification and authentication platform, AU10TIX announced the launch of INSTINCT. The platform is autonomous and anonymous and has been developed to enhance fight against synthetic identity...

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FinTech firm FNZ, the global platform-as-a-service provider, has announced that the firm has signed a deal with South African FinSwitch, a “transaction switch” linking participant in the investment industry...

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The Bank for International Settlements (BIS) announced the appointment of Bénédicte Noella Nolens as head of the BIS Innovation Hub Centre in Hong Kong SAR for a three-year term...

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UK-based capital markets software firm, genesis has announced the appointment of Nick Kolba as its Global Head of Platform. The new hire will be responsible for delivering the company’s...

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California based Experian, committed to helping protect, understand, and improve credit has announced the launch of Sure Profile, a breakthrough solution to fight against synthetic identity fraud. Sure Profile...

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The People’s Bank of China (PBC) and State Administration for Market Regulation (SAMR) signed a Memorandum of Cooperation on Data Sharing, with the aim to promote orderly data transfer...

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A UK-wide study conducted by Pod Group, a platform, software and connectivity services provider, has unveiled that 73% of the UK business leaders believe that the COVID-19 pandemic will...

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Sydney-based Raiz Invest, a micro-investing app, has announced that it will offer investors exposure to the Bitcoin cryptocurrency with the launch of its 7th investment portfolio that will have...

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Boston based FinTech startup Airfox has announced that the company is joining Via Varejo, one among the largest retailer in Brazil serving 60 mn customers through nationwide retail chains...

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Russia-based VTB Bank has announced a technology partnership with Skolkovo Foundation. The partnership is expected to facilitate the development of VTB’s research centre at the Skolkovo Innovation Center in...

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Sydney-based Westpac has introduced changes in the home loan repayments to give customers more flexibility during the novel COVID-19 pandemic. Last week, the bank announced the appointment of Les...

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Irish blockchain platform, we.trade has announced a collaboration with IBM in a bid to enhance and speed up the global commercialisation of the platform. The platform also announced that...

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Monzo’s co-founder Tom Blomfield has decided to step down from his role as CEO in order to become the challenger bank’s first president. Blomfield told TechCrunch he has considered...

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New York-based Haven Life, wholly-owned by Massachusetts Mutual Life Insurance Company (MassMutual), offering an online solution for buying affordable and dependable life insurance has announced that the company is rolling...

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European InsurTech, INSTANDA has appointed of Steven Haasz as its Partnerships and European Accounts Director. The new hire will be responsible for accelerating the company’s European expansion and enhance...

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FinTech startup KOHO, offering Canadians an alternative to their traditional banking experience, has announced its partnership with Canadian tech startup Hyr that provides simplified in-app staffing solutions. Under the...

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Visa has mentioned that it has seen early signs of global contactless payments growth as consumers and businesses increasingly seek digital options for everyday purchases. While this is being...

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Russia-based Yandex.Checkout today announced the launch of Split Transaction, a new solution for marketplaces and online platforms. The company states that the new solution will automatically split money between...

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Financial services technology provider FIS has announced that the FinTech is supporting U.S. states and territories under the U.S. Government’s Families First Coronavirus Response Act (FFCRA) to deliver required...

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FCA today announced proposals to support customers struggling to pay their mortgages amidst COVID-19. The new proposal covers the options that firms need to provide customers who are coming...

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Cargill Australia, a provider of grain, oilseeds and other agricultural commodities, used the new Bolero International Galileo trade finance platform to accelerate a canola oil shipment to China, thereby...

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Crowdfunder.co.uk was founded in 2014 and claims to be the UK's number one rewards-based crowdfunding platform, also working with corporates to help them leverage their philanthropic investments. In just under six years, Crowdfunder.co.uk has helped raise more than £100 million for charities, businesses and community projects across the UK as well as working with several corporates including Santander and RBS NatWest to distribute grants.

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The FinTech sector has risen to the challenge of the Covid-19 pandemic, responding to customer needs and filling gaps in services that may not otherwise have been addressed in the short and medium term. The impact of Covid-19 and of lockdowns around the world has forced many businesses to rethink their strategies and the FinTech sector, in particular, has received a lot of attention in recent weeks, with some actors seeing a significant rise in business activity even though whole economies have been shut down. Sub-segments such as lending, digital banks, wealth management and digital payments have witnessed massive traction globally.

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Governments around the world are offering aid businesses in distress but are government-backed Covid-19 lending schemes being hobbled by old tech? Governments across the world are offering financial aid and loans through different schemes to companies large and small but getting access to the schemes has proven a struggle due to the volume of applications. In the UK, data from the British Chambers of Commerce (BCC) suggested that in mid-April, only 1.4% of businesses enquiring about the government’s Coronavirus Business Interruption Loan Scheme (CBILS) for SMEs had been successful in receiving a grant while figures from UK Finance suggested that the figure is even lower at 0.65%.

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More resources are being set aside by banks as the Fundamental Review of the Trading Book (FRTB) looms large. large part of banks’ preparation involves them balancing their capital between the standardised approach (SA) and the internal model approach (IMA). For smaller banks, the costs of infrastructure requirements for the IMA in terms of systems, data and processes wouldn’t be justified compared to the lower capital requirements they could achieve with IMA compared to SA. The SA calculations also have some synergies with risk calculations for other regulations, such as the upcoming Initial Margin (IM) requirements.

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More resources are being set aside by banks as the Fundamental Review of the Trading Book (FRTB) looms large. large part of banks’ preparation involves them balancing their capital between the standardised approach (SA) and the internal model approach (IMA). For smaller banks, the costs of infrastructure requirements for the IMA in terms of systems, data and processes wouldn’t be justified compared to the lower capital requirements they could achieve with IMA compared to SA. The SA calculations also have some synergies with risk calculations for other regulations, such as the upcoming Initial Margin (IM) requirements.

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IBS Intelligence held its second FinTech Roundtable at the CedarIBSI FinTech Lab in Dubai Media City on 28 November 2019. Representatives from FinTech Lab members including i-Xceed Solutions, Fournxt, Clayfin, Expleo (formerly Thinksoft) and Clari5 came together with a clutch of banks based in United Arab Emirates (UAE); among them National Bank of Fujairah, Mashreq, Emirates NBD and Dubai Islamic Bank. The roundtable event was staged to discuss the need for innovation in treasury management systems and regulatory technologies in the banking ecosystem.

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This section is a monthly snapshot of activity in the banking technology system space. This is useful for anyone who wants to track banking system sales on a regular basis. The Who’s Bought What provides all the key details of the deal such as the bank that bought the system, the type of system, the supplier and the system name, and the country of sale.

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