Proprietary fraud tools set to be ‘obsolete’ by 2023
Jun05

Proprietary fraud tools set to be ‘obsolete’ by 2023

Proprietary fraud tools will be rendered obsolete by 2023 due to continued growth in transaction volumes and out-dated software architecture, according to managed service provider Instaclustr. With debit card transactions alone predicted to reach 20bn a year by 2023, proprietary tools will soon no longer be viable for banks and payment companies, either due to the prohibitive cost or lack of scalability. Instaclustr forecasts that all...

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Taiwan’s First Neobank, Next Commercial Bank, Selects Temenos’ Digital Banking Platform to Launch in Record Time
Jun05

Taiwan’s First Neobank, Next Commercial Bank, Selects Temenos’ Digital Banking Platform to Launch in Record Time

Temenos, the banking software company, today announced that Next Commercial Bank (Next Bank), has selected Temenos Transact to power its launch as one of Taiwan’s first neobanks and deliver digital banking experiences that challenge the status quo. Cloud-native, cloud-agnostic Temenos Transact will deliver rich, pre-configured banking functionality and compliance to support Next Bank’s rapid launch to market in 2020. Temenos’ market...

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TransUnion UK Adds New Credit Score Simulator Tool to CreditView
Jun05

TransUnion UK Adds New Credit Score Simulator Tool to CreditView

TransUnion has introduced a new credit score simulator tool to CreditView; its white-labelled, interactive solution which provides consumers with access to their credit report and score and helps finance providers improve customer engagement and brand loyalty. The new credit score simulator can support UK consumers in managing their finances, by giving them the power to proactively test the impact of future financial decisions on...

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Wirecard drives the digitalisation of professional sports: Partners with FC Bayern Munich Basketball
Jun05

Wirecard drives the digitalisation of professional sports: Partners with FC Bayern Munich Basketball

Wirecard, the global innovation leader for digital financial technology, and FC Bayern Munich Basketball are announcing their long-standing partnership, which is initially set to run until summer 2022. Wirecard will serve as a platinum partner of FC Bayern Munich Basketball during this time. Wirecard and FC Bayern Basketball have been working closely together in the development of digital payment solutions and related additional...

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Fintech Fix: Tapping Out?
Jun05

Fintech Fix: Tapping Out?

Check out this week’s episode of The Fintech Fix, featuring MTA – Metropolitan Transport Authority, NYC and UK Finance. Anyone tired of the travelcard – me too? Find out when contactless payments will touch in for NYC...

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Wolters Kluwer Lending Insights Show Major Impact of TSoftPlus Across US
Jun05

Wolters Kluwer Lending Insights Show Major Impact of TSoftPlus Across US

Wolters Kluwer Compliance Solutions has shared insights showing that its Paycheck Protection Program (PPP) Supported by TSoftPlus™ solution has helped small businesses retain approximately one million American jobs, representing almost 100 different industries. The figures provide further evidence as to how the Minnesota-based business is continuing to provide industry expertise and technology prowess, leading the way when it comes to...

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Regxsa empowers Financial Institutions in taking responsibility towards society and doing the right thing
Jun05

Regxsa empowers Financial Institutions in taking responsibility towards society and doing the right thing

Regxsa, formerly known as AMLabc, empowers Financial Institutions in taking responsibility towards society and doing the right thing. The company launches the cloud based solution Alexis to bring back the human factor in the heart of the fight against Money Laundering, Terrorism Financing and related financial crimes. Regxsa supports Financial Institutions to meet local and global regulatory requirements. Needs of Financial...

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Wealthify embarks on the next phase of its growth
Jun05

Wealthify embarks on the next phase of its growth

Wealthify has grown significantly since its launch in 2016, expanding its original offering of Stocks and Shares ISAs and General Investment Accounts to now include award-winning Ethical Investments, Junior Stocks and Shares ISAs, and more recently Self-Invested Personal Pensions (SIPPs).  The Cardiff based ‘robo’ investment service now employs more than 40 people and manages the investments of 30,000 customers. To help fund this...

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Renaud Dumora, BNP Paribas Cardif Paris Fintech Forum
Jun05

Renaud Dumora, BNP Paribas Cardif Paris Fintech Forum

We speak with Renaud Dumora of BNP Paribas Cardif about Paris FinTech Forum  

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Wealth Wizards launches algorithmic abridged advice service
Jun05

Wealth Wizards launches algorithmic abridged advice service

Wealth Wizards today announces the launch of its automated ‘algorithmic’ abridged advice service for DB transfers. This follows the FCA’s confirmation, following CP19/25, that abridged advice will be a permitted service for triaging clients seeking full defined benefit transfer advice. Wealth Wizards welcomes the introduction of abridged advice, but suggested that the service could prove resource-intensive unless financial planners...

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Sapiens Partners with CLARA analytics to Transform Workers’ Compensation Claims with AI
Jun05

Sapiens Partners with CLARA analytics to Transform Workers’ Compensation Claims with AI

Sapiens Americas, a wholly owned subsidiary of Sapiens International Corporation, a leading global provider of software solutions for the insurance industry, announced today it has entered into an agreement to partner with CLARA analytics, a provider of easy-to-use artificial intelligence (AI)-based products. The company’s offerings improve claims outcomes throughout the lifecycle and reduce various sources of loss-costs in claims...

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Cloud9 Completes $17.5M Series B Funding Round Led by Strategic Investment from UBS
Jun05

Cloud9 Completes $17.5M Series B Funding Round Led by Strategic Investment from UBS

Cloud9 Technologies (“Cloud9”), a leader in cloud-based communications, has completed a $17.5 million Series B funding round led by a strategic investment from UBS, with participation from existing investors including J.P. Morgan and Barclays.  Agility, mobility, and resilience have come into sharp focus at financial institutions, accelerating demand for flexible remote working tools on and off the trading floor and...

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NICE Actimize to Acquire Guardian Analytics, Expanding AI Cloud Solutions for Financial Crime Risk Management Across All Market Segments
Jun05

NICE Actimize to Acquire Guardian Analytics, Expanding AI Cloud Solutions for Financial Crime Risk Management Across All Market Segments

Financial services organizations of all sizes must remain one step ahead of financial crime. To enable this NICE Actimize a leader in Autonomous Financial Crime Management, announces that it has entered a definitive agreement to acquire Guardian Analytics, a leading AI cloud-based financial crime risk management solution provider. Financial services organizations of all sizes rely on Guardian Analytics’ sophisticated real-time...

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MarketFinance opens CBILS lending for SMES
Jun05

MarketFinance opens CBILS lending for SMES

Fintech business lender MarketFinance has been given the green light by the British Business Bank to operationally start lending business loans and invoice finance as a lender under the government-backed Coronavirus Business Interruption Loan Scheme (CBILS). CBILS is designed to support the continued provision of finance to UK smaller businesses (SMEs) during the COVID-19 outbreak. It is intended that these finance facilities will...

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Georg Olav Ramstad, Nets – how does nets help large organisations adopt open banking
Jun05

Georg Olav Ramstad, Nets – how does nets help large organisations adopt open banking

We speak with Georg Olav Ramstad of Nets about how they help large organisations adopt open banking.  

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Small businesses face ‘trade credit crunch’ as backlog of unpaid invoices builds up
Jun05

Small businesses face ‘trade credit crunch’ as backlog of unpaid invoices builds up

40% of businesses are currently facing over £10,000 in unpaid invoices Solvency a concern for small businesses as 1 in 4 worry they won’t survive into 2021 UK faces a trade credit crunch as customers seek longer payment terms and suppliers look to cut them, while the sector deals with backlog of unpaid invoices This comes as iwoca launch ‘iwocaPay’ to give confidence back to businesses grappling with the fall out of the pandemic The...

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FF Virtual Arena: Belvo, Open Banking and What It’s Like to Get Millions
Jun04

FF Virtual Arena: Belvo, Open Banking and What It’s Like to Get Millions

In today’s Virtual Arena at 14:30 BST join us as we talk everything Open Banking and what its actually feels like to get a million bucks. The Open Banking enablers – Belvo talk to us about their funding and Latin American financial...

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Stefan Moller, Klar – How has financial service industry changed over the last couple of years
Jun04

Stefan Moller, Klar – How has financial service industry changed over the last couple of years

We speak with Stefan Moller of Klar about how the financial service industry changed over the last couple of years  

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Paxful, the Latest Crypto Company Entering India Market, Is Already the Leading P2P Bitcoin Marketplace in The Country
Jun04

Paxful, the Latest Crypto Company Entering India Market, Is Already the Leading P2P Bitcoin Marketplace in The Country

Paxful, a leading global peer-to-peer bitcoin marketplace that recently expanded operations in India, is already the largest in the country. Aiming to expand the financial inclusion and fiscal independence of a new generation of Indians by harnessing the power of cryptocurrencies, Paxful offers a simple, transparent, and secure platform for bitcoin trading. Through the platform, buyers gain access to the global economy by connecting...

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Sinch Ranked Top Messaging Innovator, Best Vendor in Category in North America
Jun04

Sinch Ranked Top Messaging Innovator, Best Vendor in Category in North America

Sinch AB, a global leader in cloud communications for mobile customer engagement, has been named the number one innovator among 50 companies judged for The Innovators Report 2020, published by the Roaming Consulting Company (ROCCO). Separately, Sinch received a Tier One rating and was honored as the top A2P SMS Messaging Vendor in North America in ROCCO’s A2P SMS Messaging Vendor Performance Report 2020. The Innovators Report aims to...

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Amadeus and Troovo team up to automate B2B travel payments
Jun04

Amadeus and Troovo team up to automate B2B travel payments

The integration of Troovo’s advanced Robotic Process Automation (RPA) engine with Amadeus’ B2B Wallet means the entire virtual payment flow can now be automated very quickly, helping the travel industry digitally transform B2B supplier payments. The way travel agencies pay travel providers, like airlines, is changing as virtual payments replace traditional methods and legacy payment processes. This move to virtual cards helps to...

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New Nets Passport Reader service brings security and simplicity to remote identification
Jun04

New Nets Passport Reader service brings security and simplicity to remote identification

Nets, a European payments industry leader, today introduces a completely new way to identify customers securely from a distance. The Nets Passport Reader service bridges the gap between physical ID documents and digital identification, with the help of a simple smartphone app. The service has no geographical limitations and is compatible with passports from over 130 countries. Demand for digital identification is growing rapidly and...

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Enfuce approved as an authorized payment institution
Jun04

Enfuce approved as an authorized payment institution

Finland’s biggest fintech start-up Enfuce has been accredited as an authorised payment institution by the Finnish Financial Supervisory Authority. Customers pursuing new opportunities introduced through the second Payment Services Directive (PSD2), can now perform account information and payment initiation services together with Enfuce.  With the Payment Institution license, Enfuce can now unlock a variety of opportunities for...

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Elevator Ventures and Speedinvest invest in Agro.Club
Jun04

Elevator Ventures and Speedinvest invest in Agro.Club

Raiffeisen Bank International’s corporate venture capital entity, Elevator Ventures, joins Speedinvest in a seed funding round for AgTech startup Agro.Club, currently operating in Russia and North America with plans to further expand in Europe.  Elevator Ventures Beteiligungs GmbH (“Elevator Ventures”), a 100 per cent subsidiary of Raiffeisen Bank International, and Speedinvest invest in a seed round of Аgro.Club, a...

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Featurespace Named as Representative Vendor in  Gartner’s May 2020 Market Guide for Online Fraud Detection
Jun04

Featurespace Named as Representative Vendor in Gartner’s May 2020 Market Guide for Online Fraud Detection

Featurespace™, the leading provider of Enterprise Financial Crime prevention software, has been recognised as a Representative Vendor in Gartner’s 2020 Market Guide for Online Fraud Detection. The report states, “online fraud detection is expanding beyond traditional use cases, and market overlap with identity proofing and authentication is growing. SRM leaders focused on fraud should select vendors based on desired...

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British Business Investments commits up to £40m to Columbia Lake Partners UK LLP’s second fund
Jun04

British Business Investments commits up to £40m to Columbia Lake Partners UK LLP’s second fund

Columbia Lake Partners announces first close of Fund II The Fund will provide growth capital loans to venture capital backed high growth UK and European technology start-ups Columbia Lake Partners provides companies with growth capital that is less dilutive than equity financing, and more flexible than traditional bank loans British Business Investments Ltd announces a commitment of up to £40m to Columbia Lake Partners Fund II –...

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Finastra appoints Chief Customer Officer to Executive Leadership Team
Jun04

Finastra appoints Chief Customer Officer to Executive Leadership Team

Finastra has appointed Neil Blagden as Chief Customer Officer. He ultimately takes responsibility for customer success – overseeing everything Finastra does to design, deliver and enable excellent experiences for its customers.  Neil brings deep expertise in this space, coupled with a wealth of knowledge in customer support, operations and digital transformation. Throughout his career he has focused on building agile ‘customer-first’...

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BNP Paribas Fortis has chosen Worldline to set up and operate its omni-channel Contact Service Center
Jun04

BNP Paribas Fortis has chosen Worldline to set up and operate its omni-channel Contact Service Center

Worldline, the European leader in the payments and transactional services industry, has sealed a multi-year contract with BNP Paribas Fortis, a leading financial institution in Belgium and across Europe. Under this agreement, Worldline will set up and operate BNP Paribas Fortis’ omni-channel Contact Service Center (CSC) using WL Contact. Operating in SaaS (Software-as-a-Service) mode, this proven contact center solution will handle...

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Business finance is yet to shift to reflect widespread remote working, research reveals
Jun04

Business finance is yet to shift to reflect widespread remote working, research reveals

32% of businesses found the transition to remote working difficult, with small business substantially lagging behind the enterprise market in benefiting from automation 72% of businesses have seen changes in the levels and types of expenses submitted, but only 24% have changed their policies to support this Finance, estimated by the 804 businesses surveyed, will return to normal quicker than general workplace practices, but vast...

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11:FS and Plaid joint report examines how open finance will shape the next generation of digital financial services
Jun04

11:FS and Plaid joint report examines how open finance will shape the next generation of digital financial services

11:FS, the challenger firm defining and building truly digital financial services, and Plaid, the technology company powering digital apps and services millions of people rely on to manage their finances, have released a joint report on the transition from open banking toward open finance.  The report, “Open finance: shaping the future of financial services” considers the transformative impact of the UK’s Open Finance framework...

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Worrying services sector is so absent in UK-EU negotiations, new academic report finds
Jun04

Worrying services sector is so absent in UK-EU negotiations, new academic report finds

The services sector, which accounts for around 80% of the UK economy, has been largely missing from UK-EU trade negotiations; however, reduced access to the EU market will profoundly impact businesses across the country, a new report by academic think tank UK in a Changing Europe finds. The report, Services and Brexit, raises fundamental questions about the economic price the government seems willing to pay through decreased single...

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Pascal Announces Integration with Fidelity Clearing Canada
Jun03

Pascal Announces Integration with Fidelity Clearing Canada

Pascal Financial, an emerging wealthtech company, has announced their AI-powered platform now offers integration with Fidelity Clearing Canada (FCC). Combining Pascal’s SaaS platform — Canada’s only fully integrated, AI-powered wealth management platform with active behavioural finance and FCC’s custody and clearing services creates a seamless, highly-intuitive wealth management solution. Working with Pascal, Portfolio Managers and...

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SumUp Supports Local Businesses with Gift Cards on  Instagram and Facebook
Jun03

SumUp Supports Local Businesses with Gift Cards on Instagram and Facebook

UK-based payments service provider SumUp today announces a new experience to enable customers to support small businesses via social media during COVID-19 and beyond, by discovering Gift Cards directly from eligible SumUp businesses on Facebook and Instagram. SumUp merchants can now create a new Sticker for their Instagram Stories or add a button to their Instagram accounts. People can then tap the stickers or buttons on Instagram to...

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How can banks project losses in the current Covid-19 crisis? asks Global Credit Data in latest report on loss given default
Jun03

How can banks project losses in the current Covid-19 crisis? asks Global Credit Data in latest report on loss given default

As banks deal with the ongoing consequences of Covid-19 on the global economy, Global Credit Data (GCD) has published its 2020 report on Loss Given Default (LGD), offering the latest numerical evidence of recoveries and losses incurred by banks from loans to large corporate borrowers. The report is based on a clear and qualified set of data, underpinned by verified, high-quality information collected over 15 years from more than 60...

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As Cryptocurrency Use Grows, Worldpay from FIS Helps Crypto Brokers and Exchanges with New Chargeback Indemnification Service from Forter
Jun03

As Cryptocurrency Use Grows, Worldpay from FIS Helps Crypto Brokers and Exchanges with New Chargeback Indemnification Service from Forter

FIS™, a global leader in financial services technology, today announced Fraud Freedom, a new chargeback indemnification service designed for cryptocurrency brokers and exchanges. Worldpay’s Fraud Freedom service helps crypto brokers and exchanges optimise payment conversion and authorisation rates while providing indemnification from Forter, the leading eCommerce fraud prevention provider. The cryptocurrency market continues to grow...

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Capita’s software helps Westward Housing Group simplify payment processes
Jun03

Capita’s software helps Westward Housing Group simplify payment processes

Capita plc (Capita) has secured a five-year contract worth £560,000 with Westward Housing Group to deliver an integrated ‘multi-channel’ solution, simplifying its payment processes. Capita’s Pay360 will supply Westward Housing Group with a range of payment channels that are fully Payment Card Industry (PCI) compliant, ensuring that sensitive card information is managed according to financial authority standards and tenants are able to...

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Barclaycard contactless payments data [UK Finance]
Jun03

Barclaycard contactless payments data [UK Finance]

Following today’s announcement from UK Finance around the latest UK payments trends, Barclaycard Payments has issued the below data around contactless payments: Since the introduction of the new £45 contactless limit in the UK, Barclaycard Payments has processed over 25 million contactless payments above the previous £30 limit, and up to the new limit of £45 The total value of these 25 million contactless payments is over £900...

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Landesbank Berlin chooses SIA for  the new payment card management system in Germany
Jun03

Landesbank Berlin chooses SIA for the new payment card management system in Germany

Landesbank Berlin, Germany’s largest issuer of co-branded credit cards, has chosen SIA, European hi-tech company, leader in the fields of payment services and infrastructures, for the realization of the new system for the management of payment cards co-branded with leading commercial partners in Germany, like ADAC (Allgemeiner Deutscher Automobil-Club) the German Automobile Club. With this agreement, the processing of over 2.8...

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FF Virtual Arena: Payments with BNY Mellon
Jun03

FF Virtual Arena: Payments with BNY Mellon

In today’s Virtual Arena at 14:30 BST Douglas Mackenzie will be hosting BNY Mellon’s Carl Slabicki, CTP, AAP, the Executive Manager of Payment Solutions as we continue our ‘Payments around the world’ series. Find out all about how large scale transactions are changing!...

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FBAlliance Insurance Selects Sapiens for its Core P&C Platform and Advanced Analytics
Jun03

FBAlliance Insurance Selects Sapiens for its Core P&C Platform and Advanced Analytics

Sapiens Americas, a wholly owned subsidiary of Sapiens International Corporation, a leading global provider of software solutions for the insurance industry, announced today that FBAlliance Insurance, a provider of Farm Bureau insurance protection, has selected Sapiens CoreSuite for Property & Casualty and Sapiens IntelligencePro to accelerate growth and meet demand for rapid launch of new products. Self-sufficiency and a...

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Visa’s fast track program and how it’s great for fintech
Jun03

Visa’s fast track program and how it’s great for fintech

The global economy is now being shaped by innovation and novelty in digital technology. New inventions and advancements in already existing software and hardware transform the way we live our day to day lives. Moreover, innovation is changing industries and sectors in national and international economic ecosystems, making them more convenient and easy to use. At the same time, such shifts help businesses in granting access to a...

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Real estate, hospitality and ICT are the UK sectors hardest hit by late payment, according to the Sidetrade tracker
Jun03

Real estate, hospitality and ICT are the UK sectors hardest hit by late payment, according to the Sidetrade tracker

A clear picture of the impact of the Covid-19 crisis per business sector A first of its kind, the Sidetrade tracker analyses the impact of the Covid-19 crisis on twelve business sectors. As of 25 May, the UK sectors hardest hit by payment delays tied to the crisis are: Finance, Insurance, Real Estate: 76% of invoices over 10 days overdue ICT (Information, Communication, Technology): 60% of invoices over 10 days overdue Leisure,...

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CISI and Association of Professional Compliance Consultants new deal boosts business and professional development opportunities for members
Jun03

CISI and Association of Professional Compliance Consultants new deal boosts business and professional development opportunities for members

The Chartered Institute for Securities & Investment (CISI) and the Association of Professional Compliance Consultants (APCC) are delighted to announce a strategic partnership with the aim of supporting professionalism across the compliance and wider financial services sector. The partnership will allow for reciprocal arrangements to be in place for members of both organisations to access events, mutual qualifications and...

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FinTech platform Bidwedge announces partnership with Born Free Foundation – Unused foreign currency gives rescued big cats a new life
Jun03

FinTech platform Bidwedge announces partnership with Born Free Foundation – Unused foreign currency gives rescued big cats a new life

Fintech platform Bidwedge has confirmed a partnership with international wildlife charity Born Free to support its big cat rescue and conservation work. For every transaction via the Bidwedge platform, the company will make a donation to Born Free. In addition, users can opt to donate their leftover foreign currency direct to the charity via Bidwedge. Bidwedge is an online platform that makes it easy to change your left-over cash...

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Revolut launches financial super app
Jun03

Revolut launches financial super app

Revolut has today announced the launch of its new app version, the latest step in its journey to becoming a financial super app. With the latest 7.0 app release, Revolut is reimagining and redefining what it can do for customers around the world. The major redesign has focused on creating one app from which customers can manage all their finances with safety and ease, every day. The new experience is even more intuitive, with a new...

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Cards used for half of payments for first time last year
Jun03

Cards used for half of payments for first time last year

Card and contactless payments continued to increase in 2019, with card payments accounting for over half (51 per cent) of all payments for the first time, according to the latest UK Payment Markets report from UK Finance. Debit cards were the most used payment method in the UK with 17 billion payments, of which 7 billion were contactless. Consumer use of credit cards also rose during 2019, up by 7 per cent to 3.3 billion payments,...

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Every Cloud: Covid-19 and the opportunity for digital transformation
Jun03

Every Cloud: Covid-19 and the opportunity for digital transformation

Alan Cole, Head of Cloud and Operations at JHC Financial Faced with tighter regulations and changing customer needs, over the last decade Wealth Managers have not had it easy – but with the development of new technologies, many have been able to create efficiencies, reduce costs and shrink operational risk. In 2020, add a global pandemic into the mix, however, and technology becomes vital to their very survival; the need for increased...

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Digital is expected to be a key driver of Standard Chartered’s retail growth in 2020
Jun03

Digital is expected to be a key driver of Standard Chartered’s retail growth in 2020

Standard Chartered Bank Singapore (“the Bank”) has recorded exceptionally high levels of digital adoption and foresees that digital will lead the way as a mainstream banking channel moving forward. The Bank expects digital services to be a key growth driver for its retail banking business in 2020. Historic growth in digital adoption While digital has always been a key touchpoint for the Bank’s retail clients, with two out of...

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Income data transparency key to unlocking billion-dollar inflows of institutional capital into commercial real estate, says property data firm Income Analytics
Jun03

Income data transparency key to unlocking billion-dollar inflows of institutional capital into commercial real estate, says property data firm Income Analytics

Commercial real estate could attract billions of pounds of passive capital in the way fixed income and equities do if the sector reported income data more accurately and transparently to investors, according to Matthew Richardson, the chief executive of property data firm Income Analytics. Passive capital invests by replicating a specific benchmark or index such as the S&P 500 in order to match its performance. While MSCI can...

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Lisa Frazier, Wells Fargo – Paris FinTech Forum
Jun03

Lisa Frazier, Wells Fargo – Paris FinTech Forum

We speak with Lisa Frazier of Wells Fargo about Paris FinTech Forum  

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