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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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U GRO entered into a multi‐year engagement with Global Value Partners (GVCP) to help and develop its MSME financing platform. Founded by Sanjeev Goel, a former International Finance Corporation...

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Social networking app WhatsApp is aggressively working towards monetizing the app. Facebook, which acquired WhatsApp in 2014, has invested a whopping $5.7 billion in Jio Platforms, the tech, and...

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Trov, on-demand insurance technology provider has announced that the company has partnered with Seguros Sura Brazil, Latin America P&C insurers, to introduce on-demand insurance applications in Brazil. SUSEP‘s recent...

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Mastercard has announced the launch of Recovery Insights, a set of tools, innovation and research that can provide some certainty to the COVID -19 hit world and support data-driven...

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SIA has renewed its agreement with the Italian State Police for combating cybercrimes that involve the information systems and services of Italy’s critical infrastructure. The agreement was signed between...

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Vesta, a global provider of a scalable suite of fraud and payment solutions for online commerce, has announced that the company has secured $125 million in new growth capital...

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A new report from global recruiting firm Robert Walters and market analysis firm Vacancy Soft has revealed that FinTech investment in the UK has increased by 500% in the...

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Kuala Lumpur-based Razer Fintech has announced that Google Play Store consumers can make offline-to-online (O2O) payments through its Razer Cash solution. The FinTech company’s solution enables Google Play Store...

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UK-based TSB Bank has teamed up with Adobe in a bid to boost its customer service by providing its personal and business banking customers with online customer servicing forms....

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The Singapore Police Force (Police), the Infocomm Media Development Authority (IMDA) and the Monetary Authority of Singapore (MAS), have taken action to block the website of an unregulated trading...

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Integrated payment technology provider Fattmerchant has announced that the company has partnered with Finix, a payments infrastructure platform, to power Finix Flex. Bringing payments in-house by becoming a payment...

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UK-based FinTech HyperJar has selected open banking solutions provider, Salt Edge, in a bid to achieve PSD2 compliance and develop new open banking capabilities. The collaboration will enable the...

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The Monetary Authority of Singapore (MAS) registered RF Fund Management, a subsidiary of RF International Holdings (a technologically-driven integrated digital financial group), has unveiled, following the approval of the...

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FICO, the analytics and decision management provider, has partnered with Open Banking company OpenWrks to deliver AI-driven affordability assessments, allowing creditors to make appropriate customer decisions. The solution will...

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Digital currency trading and lending provider Genesis has announced that the company has launched a derivatives trading desk, expanding the company’s suite of digital asset trading, institutional lending, custody,...

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UK-based digital Bank, Starling Bank announced today that it has secured £40 million in an investment round led by JTC and Merian Chrysalis Investment Company Limited. This follows the...

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X15 Ventures, a Commonwealth Bank of Australia (CBA) powered investment vehicle is launching Xccelerate 2020, a virtual pitch event which will see start-ups competing for funding, mentoring and support...

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Deutsche Börse and Wind, a provider of financial data in China, have collaborated to make the European market easily accessible for Chinese investors. The initiative, which is said to...

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AI ecosystem builder, Skymind Global Ventures (SGV) has announced the launch of its first spin-off company, Konduit in the UK. Konduit is the software division of Skymind and is...

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Denver-based payments technology company PruPay has partnered with PayPal, to develop and launch PruPay Touchless, a solution for merchants to request one-time payments from consumers via text messaging. Touchless...

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Element AI today announced its collaboration with the Veritas Consortium led by the Monetary Authority of Singapore (MAS), which is the central bank of the country. Element AI is...

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Santander InnoVentures, Santander Group’s venture capital fund has announced that the group has invested in Latin American income secured alternative small and medium sized enterprise (SME) lender a55. This...

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North Sydney-based GetCapital, a non-bank lender, has adapted Q2’s suite of working capital products in 2 weeks. The solutions by Austin-based Q2, a provider of digital transformation solutions for...

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The World Federation Exchanges (WFE) has published a report on measures undertaken by the industry to improve their existing cyber resilience tools during the COVID-19 pandemic. WFE’s surveys have...

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UK-based real-time data streaming and messaging solutions, Push Technology has announced a partnership with UI software engineering firm, Baker Technology. The partnership will enable Baker to utilise Push’s Diffusion...

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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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