General News

January 23, 2020 @ 9:37 pm By Omar Faridi  |  

Leading multinational payments firm Western Union (NYSE: WU) has teamed up with established India-based Airtel Payments Bank, in order to process remittance services. The partnership will allow Airtel Payments Bank clients to direct Western Union transactions into their individual bank accounts via the banking section… Read More

January 23, 2020 @ 9:06 pm By JD Alois  |  

While we read all of the time as to how cash – dollars, pounds, euros, whatever, are becoming less and less popular, New York City, the financial center of the universe is banning stores from becoming no-cash operations. To quote the approved local law: “This… Read More

January 23, 2020 @ 3:06 pm By JD Alois  |  

Outspoken entrepreneur and CEO of Prime Trust Scott Purcell has shared his thoughts on the Securities and Exchange Commission’s (SEC) proposal to modernize the current definition of an accredited investor. At the moment, an accredited investor in the US is measured by a wealth metric…. Read More

January 21, 2020 @ 12:12 pm By Samantha Hurst  |  

U.S. banking group TD Bank announced on Tuesday its recent survey revealed that half of corporate treasury and finance professionals do not believe an economic recession is a threat in 2020. According to the survey, payments fraud and cyber security risk are high on the… Read More

January 20, 2020 @ 11:25 pm By JD Alois  |  

Now in its sixth year, the British Bank Awards has recently published its list of finalists. Voting continues until February 9th with winners revealed on March 12th. This year’s finalists include a good number of well-known names from both old and new financial services firms…. Read More

January 18, 2020 @ 11:40 am By Omar Faridi  |  

Research company RBR’s latest study has found that the number of automated deposit terminals (ADTs) installed globally have increased by around 4% and had reached 1.4 million in 2018. Banking institutions say that deposit ATMs will become a widely-used tool for assisting clients in migrating… Read More

January 17, 2020 @ 9:13 am By Omar Faridi  |  

P.F.C., a Sweden-based payment institution, is reportedly launching a retroactive “buy-now, pay-later” option for customers, in order to easily convert their purchases to a part-payment or installment plan after the transaction. P.F.C. is a personal finance application and a free-of-cost Mastercard introduced in 2018 and… Read More

January 16, 2020 @ 11:14 am By Omar Faridi  |  

The Baltic region’s finance industry has been struggling and some of the area’s countries including Estonia, Latvia, and Lithuania have reportedly been indirectly involved in money-laundering scandals that were allegedly orchestrated by large Nordic banks. However, Lithuania’s capital has been able to develop its local… Read More

January 15, 2020 @ 10:46 pm By Omar Faridi  |  

Amazon Pay in India has received a capital injection of INR 13.5 billion (appr. $19.3 million) from its Singapore and Mauritius-headquartered parent entities, according to a filing with the registrar of companies (RoC). As noted in the financial documents available on business intelligence and information… Read More

January 15, 2020 @ 10:41 pm By JD Alois  |  

Australia enacted investment crowdfunding laws some time ago but the initial iteration was a bit of a no starter due to some glaring omissions by the Australian government. In late 2018, this changed when the parliament fixed the most pressing issue – the fact that“proprietary… Read More

January 15, 2020 @ 11:02 am By Samantha Hurst  |  

Ant Financial Services Group (Ant Financial), a China-based tech company and the operator of Alipay, is set to host its upcoming fintech conference in Shanghai. Ant Financial reported that the INCLUSION Fintech Conference is an event that aims to bring together the global financial and… Read More

January 15, 2020 @ 8:49 am By JD Alois  |  

Goldman Sachs (NYSE:GS) is out with Q4 earnings reporting good topline numbers with a miss on the bottom line. Shares are trading marginally lower in pre-market activity. Goldman’s net revenues for the year ending December 31st came in at $36.55 billion with net earnings of… Read More

January 15, 2020 @ 7:49 am By Omar Faridi  |  

Netherlands-based Backbase has introduced its new managed cloud platform Backbase-as-a-Service (BaaS). It provides financial institutions access to the firm’s entire portfolio, which consists of various banking products and innovation tools. The online banking software developer officially launched the product at Backbase Connect, the firm’s annual… Read More

January 14, 2020 @ 11:08 am By Omar Faridi  |  

HSBC, a British multinational investment bank and financial services holding company with over $2.5 trillion in total assets, has reportedly been voted as the leading trade finance bank in the Middle Eastern country of Bahrain in the Euromoney trade finance survey for 2020. This is… Read More

January 14, 2020 @ 8:53 am By JD Alois  |  

JP Morgan (NYSE:JPM) is out with Q4 2020 results and the numbers are a clear beat on both the top and bottom line. JPM shares are up about 1% in pre-market trading. JPM is one of the most successful banks in the world benefiting from… Read More

January 13, 2020 @ 10:21 am By Omar Faridi  |  

While it might be true that young people like to use innovative cell phone apps to streamline their daily activities, reports suggest that fancy software alone won’t necessarily help challenger banks when trying to attract business from Generation Z customers. This, according to a newly… Read More

January 13, 2020 @ 8:34 am By JD Alois  |  

Just as it has been revealed that the UK Peer to Peer Finance Association (P2PFA) has disbanded, Innovate Finance has announced the creation of 36H Group to take its place. Innovate Finance described 36H as a “united voice for lending platforms that accept retail investments.”… Read More

January 12, 2020 @ 8:53 am By Omar Faridi  |  

Thailand is currently laying the groundwork for standalone or independently-functioning online banks as the Southeast Asian nation tries to catch up with other nearby markets that have been upgrading their banking infrastructure. Veerathai Santiprabhob, governor of the Bank of Thailand, noted during a recent interview:… Read More

January 12, 2020 @ 7:46 am By Omar Faridi  |  

UK-based credit card issuer NewDay is reportedly planning to acquire Deko, a retail finance platform, in order to diversify its line of products and services. NewDay’s management is currently looking at the different business opportunities that tech platforms are offering in the payments and credit… Read More

January 12, 2020 @ 7:27 am By Omar Faridi  |  

The Bank of Ceylon (BoC), a state-owned, major commercial bank in Sri Lanka, is reportedly expanding its branch network to include Andigama and Weerapokuna with the added convenience of offering 24-hour online banking services to the people living in these areas. BoC’s Weerapokuna location is… Read More