Market News

Isracard, the largest credit card company in Israel, has selected Temenos T24 Core Banking. Temenos’ digital open banking platform to help it achieve its strategic goal of simplifying its systems architecture and enabling the credit card provider to enhance the digital experience for its customers. Isracard was looking for a partner that could simplify the […]Read More

During 2018, SWIFT’s gpi payments service has made good progress. It has continued to transform correspondent banking. With the support of hundreds of financial institutions, including the world’s 60 biggest banks, it is now being used to send hundreds of billions in payments every day – more than half (55%) of SWIFT’s cross-border traffic the […]Read More

RegTech Association, Australia has announced its membership with Microsoft and is keen to exhibit to regulators how AI could improve bank compliance. The new membership comes as a potential rescue to concerns exposed by the banking royal commission. Microsoft with its regulatory compliance applications available on Azure cloud services believes AI technology is an area […]Read More

Cairo-based Commercial International Bank (CIB) has set up a corporate venture capital firm CVentures to focus on investing in fintech startup companies and next generation financial services platforms. The financial services industry in Egypt remains largely untapped and fintech can be leveraged to attain financial inclusion and boost economic growth in the country. CIB said […]Read More

Use of ATMs has plummeted in China as consumers have switched en masse to digital payments, a leading consultancy in the field of retail banking and banking automation has revealed. China is by far the largest ATM market in the world, home to almost a quarter of the world’s cash machines, according to RBR’s study, […]Read More

Graduate recruitment specialist Amplify has rebranded itself and expanded its educational technology offerings. Previously called Amplify Trading, the company will now simply be known as Amplify. The company, which has claimed to be a disruptor in the market for graduate recruitment in the financial services industry, said it has launched a new suite of technologies, […]Read More

Biometric payments will finally go mainstream in 2019, an expert in blockchain-powered payments has predicted. Alastair Johnson, CEO and founder of blockchain-based secure payments and identity verification platform Nuggets, said that consumers are already used to the idea, thanks to payment apps like Apple Pay that the biometric scanners on smart phones. “This is just […]Read More

Peer-to-peer property lending platform BLEND Network has completed £10m of late-seed round financing. BLEND launched earlier this year with the claim that it could make the property market more efficient while delivering double-digit return to investors. The financing round, which BLEND said was oversubscribed, saw a combination of equity to scale the business and commitments […]Read More

Malaysia’s second largest lender CIMB today clarified that its system remains secure and denied any incidents of hacking in its portal CIMBClicks, as reported by several customers over social media. “CIMB would like to address recent social media news on the alleged insecurity of its online banking portal, CIMBClicks. Please take note that out CIMBClicks […]Read More

MuchBetter, the iGaming payments company, today announced its availability to all Casumo customers, as a new payment option for its online casino. Casumo said this cooperation will give players a new instant deposit and payout option, as well as lowering Casumo’s transaction costs via MuchBetter’s unique commercial model. With the MuchBetter e-wallet, players can instantly move […]Read More

Western Union and JD Digits have signed an agreement to offer digital cross-border remittances and payments for global consumers and businesses in China. The companies are looking to combine online and mobile fintech to move remittances from across the world into mobile wallets and bank accounts of their existing customers. According to World Bank data, […]Read More

The newly instated Hammurabi Commercial Bank in Iraq has selected the ICS Banks Universal Banking Software Suite by ICSFS, a global software and services provider for banks and financial institutions. “We have chosen ICS BANKS Universal Banking application from ICSFS for its long, proven track record and trusted credentials in providing bespoke banking technology services […]Read More

Blockchain platform VeChain and cloud provider BIOS have entered into an agreement to co-market and implement a framework of blockchain-as-a-service and blockchain-enabled cloud services in the Middle East region. The partnership will aim at providing solutions like Internet of Things (IoT) to over 300 enterprises across energy, finance, retail, petrochemicals and healthcare services in the […]Read More

An unwillingness to innovate is holding back traditional banks and threatening their future, a card payments expert has claimed. Russell Bennett, Chief Technology Officer at Fraedom, the Visa-owned developer of card solutions, said the company recently conducted research into the views of UK and US-based commercial banking employees at middle management level or above. Asked […]Read More

A growing skills gap in the market for information security personnel and a shortage of talented individuals will be top of the list of major challenges faced by C-level security management next year, research has revealed. The findings come from Infosecurity Europe, Europe’s premier information security event which asked the CISO community in financial services […]Read More