May 20, 2024 @ 7:31 am By Omar Faridi  |  

Financial stability in the euro area has benefited from an improving economic outlook, with inflation steadily declining and investor confidence recovering, according to the May 2024 Financial Stability Review, which was released by the European Central Bank. The outlook remains fragile, however, as the “scope… Read More

May 19, 2024 @ 10:43 pm By Omar Faridi  |  

Tietoevry Banking is pleased to announce the renewal of its strategic partnership with Geldmaat. Following years of successful collaboration, Geldmaat has “reaffirmed their commitment to Tietoevry Banking and extended the partnership for an additional five years for use of ATM SaaS solutions.” Tietoevry Banking has… Read More

May 19, 2024 @ 9:48 pm By Omar Faridi  |  

Money Carer, a UK-based national social enterprise focused on providing secure money management services for vulnerable people, has partnered with global card manufacturer Tag Systems and biometrics company Fingerprint Cards AB. The companies have created and “launched a biometric-enabled ‘carer card’, addressing barriers that have traditionally… Read More

May 19, 2024 @ 6:33 pm By Michael Wong  |  

Digital lender Maya Bank and WeFund Lending Corp., through Lightning Financing Co., have signed a P2.75-billion ($48 million) loan channeling agreement aimed at enhancing credit accessibility for unbanked and underserved communities in the Philippines. “We are proud to work with WeFund, and this initiative is… Read More

May 19, 2024 @ 5:58 pm By Omar Faridi  |  

SKUx, an enabler of digital instant payments innovation, announced it has signed an agreement with Visa (NYSE: V), a digital payments provider. The agreement will accelerate digital transformation for select merchants and consumer packaged goods companies “that leverage SKUx’s payment-based offer solutions – supporting a… Read More

May 19, 2024 @ 5:28 pm By Omar Faridi  |  

Earnix, the global provider of AI-based SaaS pricing and rating solutions for financial services, and Exavalu, a global insurance digital advisory and system integration consulting firm, announced a partnership “to provide leading property and casualty insurance carriers with improved operational and analytical flexibility to accelerate… Read More

May 19, 2024 @ 3:11 pm By Omar Faridi  |  

United Fintech is increasing its global presence with the opening of a new location in the Dubai International Financial Centre (DIFC). This strategic expansion into the UAE, “spearheaded by Athena, one of United Fintech’s partner companies, is a response to robust market demand and underscores… Read More

May 19, 2024 @ 2:45 pm By Tony Zerucha  |  

AI lending technology provider Zest AI this week unveiled its new lending intelligence companion LuLu. LuLu is a customized generative AI tool that lending organizations can use to instantly capture strategic industry insights, decisioning and portfolio performance metrics, and quickly access their unique Zest AI… Read More

May 19, 2024 @ 1:59 pm By Tony Zerucha  |  

The current interest in generative artificial intelligence (AI) has caused some to conclude that we may see a new wave of AI-enabled fraud. However, the payments industry shouldn’t overestimate the abilities of large language models or underestimate the power of existing anti-fraud systems, says chargeback… Read More

May 19, 2024 @ 1:42 pm By Omar Faridi  |  

Ripple releases the quarterly XRP Markets Report to voluntarily provide transparency and regular updates on the company’s views on the state of crypto markets, relevant XRP Ledger and XRP-related announcements, and market developments over the previous quarter. As an XRP holder, Ripple believes in “proactive… Read More

May 19, 2024 @ 1:38 pm By Omar Faridi  |  

With nearly three-fourths (73%) of consumer loan customers now categorized as financially unhealthy1, up from 67% in 2023, lenders “have their work cut out for them delivering products that meet customer needs in a persistently high interest rate environment.” According to the J.D. Power 2024… Read More

May 19, 2024 @ 12:57 pm By Omar Faridi  |  

Backbase, the global enabler of Engagement Banking, Orient Commercial Joint Stock Bank (OCB), a private bank in Vietnam, together with SmartOSC, the digital enabler, announce the go-live of the Backbase Engagement Banking Platform to launch OCB’s OMNI 4.0 app. The OCB OMNI 4.0 version reportedly… Read More

May 19, 2024 @ 11:50 am By Omar Faridi  |  

Nu Holdings Ltd. (NYSE: NU), which claims to be one of the world’s largest digital banking platforms, released its First Quarter financial results. Financial results are presented in accordance with International Financial Reporting Standards (IFRS). David Vélez, founder and CEO of Nubank said: “In May… Read More

May 19, 2024 @ 11:35 am By Tony Zerucha  |  

Pagos, a provider of payments optimization solutions, recently announced the launch of Pagos Copilot, an AI-powered tool for instant payment intelligence. “It’s easy for subpar performance to go unnoticed when you don’t have a wealth of payments industry knowledge because you don’t necessarily know what… Read More

May 19, 2024 @ 10:39 am By Omar Faridi  |  

Private market exchange ADDX Pte. Ltd., regulated by the Monetary Authority of Singapore, has launched the blockchain-based ADDX Fixed Income Marketplace and pioneered a Multi-Issuer Debt Issuance Program for companies to conveniently issue digitized commercial paper and bonds. The Digitized Bonds are expected to “be… Read More

May 19, 2024 @ 10:27 am By Omar Faridi  |  

Riskified Ltd. (NYSE: RSKD), a firm focused on addressing e-commerce fraud and risk intelligence, announced financial results for the three months ended March 31, 2024. Eido Gal, Co-Founder and Chief Executive Officer of Riskified said: “Our commitment toward profitable growth has yielded exceptional results, as… Read More

May 19, 2024 @ 10:11 am By Omar Faridi  |  

FloQast announced a consulting relationship with PwC Australia, a global consulting firm. The alliance combines FloQast’s advanced Finance and Accounting Operations Platform with PwC Australia’s deep industry expertise “to transform key accounting and finance operations, including the financial Close, compliance management, and internal controls.” Today’s… Read More

May 19, 2024 @ 9:56 am By Omar Faridi  |  

Temenos (SIX: TEMN) announced that Banque Internationale à Luxembourg (BIL), one of the largest universal banks in Luxembourg, has gone live with Temenos core banking and payments to increase agility and efficiency of its retail, corporate and private banking operations. The move gives BIL the… Read More

May 19, 2024 @ 9:56 am By Omar Faridi  |  

Atlantic Money, which claims to be the world’s first money transfer service with a fixed fee and real rates, announced the launch of its web platform. The new robust desktop experience caters “to Atlantic Money’s over 10,000 customers who transfer significantly higher volumes than typical… Read More

May 19, 2024 @ 9:32 am By Omar Faridi  |  

Mark Branson, President of the German Federal Financial Supervisory Authority (BaFin), warns against trying to pay for the green and digital transformation of the European economy by weakening capital requirements. Branson said at the BaFin’s conference in Frankfurt am Main on 14 May: “Otherwise we… Read More