February 24, 2020 @ 5:17 pm By Omar Faridi  |  

Australia-based UBank, a digital lending company, has published an open-source software development toolkit on Github repositories in order to assist iOS developers in enhancing the accessibility of applications for users with disabilities. UBank’s new software tool checks for and issues a warning for different types… Read More

February 24, 2020 @ 2:25 pm By Omar Faridi  |  

Central bank heads and finance ministers recently held discussions regarding crypto-asset regulations at the G-20 summit.  Japanese officials working at the Bank of Japan (BOJ), the nation’s Ministry of Finance (MOF), and Financial Services Agency (FSA) have held talks in order to determine whether the… Read More

February 24, 2020 @ 10:12 am By Omar Faridi  |  

Large banks based in the United Arab Emirates (UAE), one of the Middle East’s leading financial hubs, have been investing in digital transformation projects to compete in an industry with rapidly changing consumer requirements – according to analysis performed by Bloomberg Intelligence. The analysis revealed… Read More

February 24, 2020 @ 7:55 am By Omar Faridi  |  

India-based digital payment giant Paytm says it hopes to become profitable in the coming years  as it plans to develop a new business strategy. Vijay Shekhar Sharma, the 41-year-old billionaire founder and CEO at Paytm, who leads One 97 Communications, the parent firm of Paytm,… Read More

February 24, 2020 @ 7:41 am By Omar Faridi  |  

Christopher Giancarlo, former chairman at the US Commodity Futures Trading Commission (CFTC), recently stated that it may be time for the US Federal Reserve to introduce a digital currency. Giancarlo, whose comments came during Yahoo Finance’s On the Move show on February 21, said that… Read More

February 24, 2020 @ 7:30 am By Omar Faridi  |  

Estonia’s e-residency program is a government-backed digital identity initiative that allows individuals and companies to launch a new business in the European nation, even if they do not physically reside there. For example, if you are a German citizen, and are living in Singapore and… Read More

February 23, 2020 @ 6:00 pm By Omar Faridi  |  

Amsterdam-headquartered BUX, a retail brokerage company, confirmed recently that it will be introducing the “soft launch” version of its cryptocurrency trading platform during the first week of next month. However, the Dutch Fintech firm says it’s not aiming for fast customer acquisition. Called “BUX Crypto,”… Read More

February 23, 2020 @ 5:48 pm By Omar Faridi  |  

The Malta Financial Services Authority (MFSA), the nation’s financial regulator, released a statement on February 21, claiming that it never actually regulated Binance, the world’s largest crypto-asset exchange in terms of adjusted trading volume.  To quote the MFSA: Following a report in a section of… Read More

February 23, 2020 @ 2:27 pm By Omar Faridi  |  

Jimmy Wales, co-founder of Wikipedia, noted on February 21 that he has not been able to identify any practical use-cases for cryptocurrencies or blockchain technology as far as Wikipedia’s development and maintenance is concerned. Wales, whose comments came during the recent CoinGeek Conference (held in… Read More

February 23, 2020 @ 8:10 am By Omar Faridi  |  

United Arab Emirates (UAE)-based aafaq Islamic Finance has officially launched its core banking, Islamic banking and payments platforms, which have been developed by Infosys. aafaq’s management confirmed that the financial institution has upgraded its digital, payments and Islamic banking with software designed by Infosys, an… Read More

February 23, 2020 @ 7:37 am By Omar Faridi  |  

New York-based JPMorgan Chase (NYSE:JPM) , the world’s sixth-largest bank with over $2.6 trillion in assets, has moved a step closer to introducing a wide range of personal banking products in the United Kingdom. The move would be similar to what Goldman Sachs has done… Read More

February 23, 2020 @ 7:09 am By Omar Faridi  |  

UK-based Al Rayan, a Sharia-compliant bank, has decided to close down its online banking service by February 26, 2020. The move will now force its clients to switch over to the bank’s app-only financial services with only a short six days notice period. Al Rayan’s… Read More

February 22, 2020 @ 8:00 pm By Omar Faridi  |  

Malaysia-based Axiata Group, a major telecommunications company, has reportedly been holding discussions with around 11 different potential business partners in order to acquire a digital banking license in the Asian nation. Mohd Izzaddin Idris, Axiata’s deputy chief executive, confirmed that the firm was also talking… Read More

February 22, 2020 @ 3:09 pm By Omar Faridi  |  

A New Jersey lawmaker has proposed a new bill that, if approved and made part of the state’s law, could require digital currency companies to acquire an operational license before offering their products and services. The new bill, called the “Digital Asset and Blockchain Technology… Read More

February 22, 2020 @ 9:58 am By Omar Faridi  |  

Digital asset exchange Bitso managed to capture a little more than 2% of the remittance market from the United States to Mexico in 2019 and now aims to gain a 20% market share by the end of this year. Established in 2014, Bitso experienced significant… Read More

February 22, 2020 @ 9:48 am By Omar Faridi  |  

London-based Meniga, an established white-label digital banking solution provider, recently confirmed that it had managed to register as an Account Information Service Provider with the UK’s financial regulator, the Financial Conduct Authority (FCA). Meniga has considerable experience working in the Nordic region with non-traditional financial… Read More

February 22, 2020 @ 9:33 am By Omar Faridi  |  

UK-based Fintech Cashplus is updating its mobile-based app with the spend tracking option offered by Google Maps, the company’s management confirmed on February 20, 2020. The Spending Insights feature uses data obtained from Google Maps to identify where and the exact time when a payment… Read More

February 21, 2020 @ 8:00 pm By Omar Faridi  |  

New York-headquartered tech giant IBM’s Indonesia division has confirmed that the nation’s Directorate General of Customs and Excise has begun using the blockchain or distributed ledger technology (DLT)-enabled shipping platform, called TradeLens. This news has come after months of platform development, with the country’s Customs… Read More

February 21, 2020 @ 4:34 pm By Omar Faridi  |  

JPMorgan, the largest bank in the US, and UK Aid confirmed last month that they would invest $15 million into the business operations of Catalyst Fund, a Boston-headquartered project accelerator which funds Fintech firms in order to support financial inclusion efforts in India,  Mexico, and… Read More

February 21, 2020 @ 3:40 pm By Omar Faridi  |  

Traditional banks may be at risk of losing their leading position when it comes to developing national digital identity solutions. Big tech firms and various other multinational networked companies might be able to offer better digital identity schemes and take the lead, industry association Mobey… Read More