Tagged: financial services

January 9, 2025 @ 9:46 pm By Omar Faridi  |  

Northwestern Mutual, a financial services provider of insurance and wealth products, and Sixth Street, a global investment firm, announced a partnership to support Northwestern Mutual’s long-term, diversified investment strategy for its institutional investment portfolios, which “total over $320 billion.” Under the partnership, Sixth Street will… Read More

January 1, 2025 @ 11:10 am By Omar Faridi  |  

The Reserve Bank of India (RBI) has recently released its Financial Stability Report. The update highlights key developments in the country’s financial ecosystem and what we can expect in 2025. Jaya Vaidhyanathan, CEO, BCT Digital has shared insights with CI on the nation’s banking sector…. Read More

January 1, 2025 @ 6:19 am By Omar Faridi  |  

Aditya Birla Capital Limited (ABCL) has announced a new milestone by becoming the first BFSI company to “go live” on all three core financial services – lending, insurance, and mutual fund investments, available on the Open Network for Digital Commerce (ONDC) platform. This latest development… Read More

December 29, 2024 @ 5:09 pm By Michael Wong  |  

The Bank of Nova Scotia (Scotiabank) has finalized its $2 billion investment in KeyCorp, acquiring approximately 14.9% of the U.S.-based bank’s common stock. The transaction, announced in August 2024, received Federal Reserve approval on December 12, 2024, and marks the completion of Scotiabank’s strategic minority… Read More

December 29, 2024 @ 1:38 pm By Omar Faridi  |  

The Financial Services Regulatory Authority of ADGM (FSRA) has signed a Memorandum of Understanding (MOU) with the UAE Ministry of Interior, to enhance coordination in combating financial crime related to virtual assets. The agreement aims to facilitate the exchange of information, strengthen risk mitigation frameworks,… Read More

December 23, 2024 @ 10:42 am By Omar Faridi  |  

Bitso— the financial services company powered by crypto in Latin America—listed on its platform the “enterprise-grade” token Ripple USD (RLUSD), a stablecoin with “1:1 parity” with the US dollar, which will now aim to complement the stablecoin offer now available on Bitso throughout fast-growing region…. Read More

December 17, 2024 @ 9:17 pm By Omar Faridi  |  

ADGM, the international financial centre, signed a Memorandum of Understanding (MoU) with Beijing Financial Street Service Bureau. As explained in the update, this latest agreement reinforces the commitment to fostering connections, particularly in the areas of international “development and industry promotion, further advancing the growth… Read More

December 17, 2024 @ 1:25 pm By Omar Faridi  |  

Digital identity verification is a term that is evolving and often given different definitions, according to an update from Juniper Research. Juniper Research considers digital identity to be defined more formally as follows: ‘A digital representation of an entity; this can be one or more… Read More

December 5, 2024 @ 9:18 pm By Omar Faridi  |  

The Depository Trust & Clearing Corporation (DTCC), the post-trade market infrastructure for the financial services industry, issued its Systemic Risk Barometer Survey results, identifying Geopolitical Risks, Cyber Risk, U.S. Political Uncertainty and U.S. Presidential Election Outcome, Inflation and U.S. Economic Slowdown as the “top five… Read More

December 5, 2024 @ 7:03 pm By Omar Faridi  |  

Mitsubishi UFJ Financial Group (MUFG), a global firm focused on  financial services, and asset management firm DWS Group (DWS) have launched a venture designed to enhance their respective capabilities in underwriting and distributing infrastructure and alternative credit investments. As stated in the announcement, the parties… Read More

December 5, 2024 @ 5:06 pm By Omar Faridi  |  

Australian companies’ use of AI in their finance functions is growing steadily – and the Return on Investment (ROI) on AI is exceeding, or at least meeting, expectations, a KPMG International study has found. And a quarter or 25% of Australian and overseas organizations are… Read More

December 4, 2024 @ 4:26 pm By Omar Faridi  |  

PwC announced a collaboration agreement with Amazon Web Services (AWS) to help drive innovation using the advancements in cloud and generative AI (GenAI) services. The collaboration will now aim to bring together PwC’s industry insights with AWS’ GenAI services, including Amazon Bedrock, which offers a… Read More

November 30, 2024 @ 6:09 pm By Tony Zerucha  |  

This week, Zetaris, a provider of AI data hub solutions, launched a suite of agentic AI capabilities for financial services, including AI Digital Brokers, AI Bankers, and other specialized AI solutions. Zetaris AI agents augment human expertise and empower financial professionals to focus on complex,… Read More

November 28, 2024 @ 8:38 am By Omar Faridi  |  

Spendesk, the spend management platform for mid-sized businesses, has launched Spendesk Financial Services, which is its own payment institution. Regulated by the ACPR (Autorité de contrôle prudentiel et de résolution), and including a collaboration with Visa, Spendesk Financial Services enables the company to deliver payment… Read More

November 17, 2024 @ 6:08 pm By Omar Faridi  |  

Jeff Weinstein, a Product Specialist at Stripe, recently announced an innovative development for the AI community. Weinstein noted that Stripe’s launch of a new SDK is specifically designed for AI agents. Today(), @stripe is launching a SDK built for AI agents: – LLMs can call… Read More

November 15, 2024 @ 8:51 am By Omar Faridi  |  

Schroders welcomes the Mansion House proposals unveiled by UK Chancellor of the Exchequer Rachel Reeves, designed to drive growth and competitiveness in financial services. As part of the reforms, the Chancellor revealed measures to merge Local Government Pension Scheme assets and consolidate Defined Contribution (DC)… Read More

November 13, 2024 @ 9:34 pm By Omar Faridi  |  

MistTrack, developed by SlowMist, has formed a partnership with Doo Group, a financial services group. This collab represents a step toward enhancing compliance frameworks and security protocols in the landscape of digital finance. Doo Group’s business model integrates brokerage, liquidity provision, and asset management services… Read More

November 9, 2024 @ 1:49 pm By Omar Faridi  |  

Capital.com, the global trading platform and fintech group whose trading volumes have reportedly surpassed the $1 trillion mark in 2023, announced total client trading volumes reached over $450 billion in Q3 2024, which represents a sizeable 20% increase from Q2 2024. During the same period,… Read More

November 8, 2024 @ 5:59 pm By Omar Faridi  |  

Matrixport, which claims to be one of Asia’s largest “one-stop” financial services platforms, announced the integration of Fly Wing Technologies Pte Ltd’s OTC service on the Matrixport APP, enabling a better one-stop experience for users. All Matrixport-verified accounts must complete Fly Wing’s eKYC onboarding process… Read More

November 8, 2024 @ 9:37 am By Omar Faridi  |  

American Express (NYSE: AXP) announced an API-powered data access agreement with MX Technologies, Inc. that will provide new digital banking options for customers without compromising their account security. American Express customers will now be able to better manage their personal finances and business expenses via… Read More