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Open banking API provider Yolt Technology Services claims it has reached over 80% API coverage across Italy, France, and Spain. This growth forms part of the company’s European expansion...
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Turkish bank, DenizBank, is using Chicago-based OneSpan’s Mobile Security Suite to protect 2.6 million mobile customers across the bank’s mobile banking app MobilDeniz, mobile wallet fastPay and card management...
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Denmark based Paiblock, has announced that the FinTech has extended its in-app banking coverage to customer accounts across the Canadian banks, as a Fintech response to COVID-19 outbreak. Paiblock,...
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XTM, a Toronto-based FinTech company providing mobile banking and payment solutions has announced that the company is leveraging the Interac Bulk eTransfer solution offered by RBC to help its...
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Europe-based blockchain bank, Bank Frick has announced the addition of a stablecoin, USD Coin (USDC), to its range of tradable and custodial cryptocurrencies. The Bank states that it will...
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Singapore-based Global eTrade Services (GeTS) announced the onboarding of GEODIS Regional HQ — Asia Pacific (GEODIS), a global supply chain operator, on the platform – CALISTA. The platform enables...
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The Financial Services Commission (FSC) of South Korea announced that switching automatic transfer accounts using ‘Payinfo’ will be possible between banks and non-banks beginning May 26, 2020, which will...
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UK-based payments solution provider, SumUp announced the launch of its online payment tool for helping businesses to cope up with social distancing measures. The new solution will enable merchants...
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California based PayCertify, a leading online payment processor for the e-commerce, healthcare and hospitality sectors has announced that the company has partnered with Florida based dispute management specialist, Chargebacks911....
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Equifax, an American multinational consumer credit reporting agency has announced that the company has entered into a strategic partnership with London based HooYu, identity confirmation and fraud investigation reg-tech...
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12CM (One-two-cee-em), a smart stamp software platform provider and a member company of the Born2Global Centre, has partnered with the Naver Business Platform (NBP). NBP is a fully independent...
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A global survey conducted by Finastra has revealed that 86% of the global banks are ready to utilise open APIs for enabling Open Banking capabilities within the next year....
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Velotrade, a web-based invoice financing service provider, has selected Dun & Bradstreet, a commercial data and analytics company, to use its global database to enable comprehensive, real-time analysis of...
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The Reserve Bank of Australia announced the discussions undertaken by the Payments System Board in light of the COVID-19 pandemic implications for risk management by financial market infrastructures (FMIs)....
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Alice McCall has partnered with AirPay FinTech, where the collaboration has enabled Alipay and WeChat Pay on the Shopify e-commerce website. Over a million Australian Chinese individuals can now...
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Avaloq and Infosys announced a collaboration today for facilitating end-to-end wealth management capabilities through digital platforms. The collaboration will see Infosys act as a strategic implementation partner for Avaloq’s...
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ACI Worldwide, the Universal Payments (UP) company providing real-time electronic payment and banking solutions, has announced the launch of a series of capabilities in its UP Immediate Payments solution....
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Singapore based KuCoin, a fast-growing IDG-backed cryptocurrency exchange has announced that its OTC Trading Desk will now support Canadian dollars (CAD) at 09:00, May 25 (UTC-8) enabling users to...
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European P2P platform Robo.cash’s recent study revealed that the majority of P2P investors choose to spend most of their funds in consumer loans. The poll also stated that this...
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Globalization and digitization are two significant trends that will shape the future of nations. The Republic of Ghana is well-positioned to take advantage of these two trends as it...
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Silicon Valley-based CITCON, a mobile payment solution leader for the fast-growing international travel commerce and retail market, has announced that the company has partnered with Tulip, the global leader...
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Wirecard and mobile messaging service provider, websms have entered into a partnership for enabling payment transactions through SMS or a direct chat messenger. The companies aim to combine their...
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The Taiwan Futures Exchange (TAIFEX) will launch 2 new futures contracts – FTSE4Good TIP Taiwan ESG (F4G TIP TW ESG) Index Futures and TIP Taiwan Market Biotechnology and Medical...
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Swiss RegTech solutions provider, IMTF has announced the appointment of Jordan Lo as the company’s APAC General Manager, effective from 1st of June, 2020. The new hire will be...
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India’s leading cryptocurrency exchange CoinDCX has raised yet another round of $2.5 million funding from Polychain Capital with support from Coinbase Ventures, the investment arm of San Francisco-based cryptocurrency...
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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.
Read MoreThere has been much hype and speculation about open banking's disruptive credentials, here Paul Dignan investigates how holistic API management is the key to unlocking open banking's vast potential. Open banking is essentially the practice of sharing financial information electronically, securely, and only under conditions that customers approve of. Chatter about open banking persists because it is can be a significant innovation catalyst, enabling better user experiences, streamlining lending, automating accounting, and pioneering new payment options. Asia is already enthusiastically embracing the concept, buoyed by a slew of countries digitalising in real-time, a large base of tech-savvy consumers and digital payment platform ubiquity.
Subscribe to read moreGovernments 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%.
Read MoreIn March 2020 Path Solutions announced that it had achieved the Microsoft Gold Partner Competency for Data Analytics, demonstrating a best-in-class ability and commitment to meet Microsoft customers’ evolving needs in today’s mobile-first, cloud-first world, and distinguishing itself within the Microsoft partner ecosystem. The same month, Mohammed Kateeb, group chairman & CEO of Path Solutions was named by ISLAMICA 500 as one of the world’s Top 50 distinguished personalities who have made a major impact on the Islamic economy again this year. This marked the fifth time that Kateeb has received this peer recognition, placing him among the leaders who have built and pioneered the Islamic economy and Halal industry.
Subscribe to read moreMore 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.
Read MoreOpen banking started to become the new buzzphrase in banking circles in 2015 when the UK government started laying out timelines for technology to change the world of banking forever. Airbnb, Uber, Amazon: three companies, three very different industries, three major disruptions. The last decade has seen massive transformations in customer experiences and interactions. Now, the next big revolution is here and it’s happening in the world of banking. While conventional retail banking has been transforming itself over the last few years, the Coronavirus is expediting the whole process.
Subscribe to read moreThis 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.
Read MoreUS FinTech companies are expanding from payments into digital lending and vice versa while financial institutions are actively working on enhancing their digital offerings. The FinTech industry in North America continues to evolve in 2020, with ever-increasing investments pouring into startups, established FinTech companies rethinking their strategy and incumbent financial institutions speeding up technology developments. Significant developments have been underway since 2019 where various FinTech companies are expanding from payments into digital lending and vice versa, and financial institutions are actively working on offering more services through their digital channels.
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Established in 1991, IBS Intelligence (IBSI) is the definitive source of independent news, analysis & research relating to global financial technology markets. IBSI's three-pronged FinTech approach is what gives strength to the firm and its clients. Its Editorial Team in London and Mumbai tracks important industry events as they happen, and in many cases leads the story. The Research Team updates the research material, daily and monthly, through active industry engagement and secondary research. This along with Cedar and IBSI's consulting team has over 30 years of experience in assisting banks develop and execute FinTech strategy, bringing real world insights to its research.
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