Tagged: financial services

December 12, 2023 @ 8:22 am By Omar Faridi  |  

The British Business Bank, the UK’s economic development bank, has appointed Ian Connatty as its first Deputy Chief Investment Officer. This is in addition to his role “as Managing Director, Direct and Co-investment, British Patient Capital, a commercial subsidiary of the Bank.” The Deputy Chief… Read More

December 11, 2023 @ 8:17 am By Omar Faridi  |  

In 2024, a few select trends could guide investors’ portfolio allocation, according to an update shared by BNP Paribas (EPA: BNP). First, the impact of higher interest rates that has “not yet been fully reflected in growth and some shortages of commodities and consumer goods… Read More

December 11, 2023 @ 7:13 am By Omar Faridi  |  

OakNorth, a UK-based digital bank, has provided a debt finance facility to support the latest acquisition project of ALMCOR and an affiliate of Cerberus Capital Management, L.P. ALMCOR claims that it has over 25 years of experience “operating in the UK and European real estate… Read More

December 11, 2023 @ 6:08 am By Omar Faridi  |  

SumUp, the global financial services company, announced it raised €285 million in funding led by Sixth Street Growth with further participation by Bain Capital Tech Opportunities, Fin Capital, and Liquidity Group. The funding will be used “to expand SumUp’s global footprint and deliver the tools… Read More

December 10, 2023 @ 4:52 pm By Omar Faridi  |  

Fintech Trumid recently reported its November 2023 performance stats. Trumid noted in a blog post that the electronic bond trading platform announced record monthly activity. Trumid, a financial technology company and fixed income electronic trading platform, is reporting record trade volume and user participation highlights… Read More

December 9, 2023 @ 8:55 pm By Omar Faridi  |  

In today’s business landscape, customers demand a seamless checkout experience, and it’s crucial for businesses to “adapt to the evolving needs of the customers,” according to an update from Razorpay. From the outset, Razorpay claims it has “been unwavering in its commitment to providing seamless… Read More

December 9, 2023 @ 1:16 pm By Omar Faridi  |  

PensionBee notes that in recent years, the spotlight has intensified “on the role of investments in the climate debate.” As most consumers would hopefully know by now, ‘ESG‘ stands for Environmental, Social, and Governance. This is a framework used to “measure a company’s sustainability, workforce… Read More

December 8, 2023 @ 11:04 am By Omar Faridi  |  

DTCC, the post-trade market infrastructure for the global financial services industry, issued its annual Systemic Risk Barometer Survey results, which have “identified Geopolitical Risks, Inflation, U.S. Political Uncertainty / 2024 U.S. Presidential Election and Cyber Risk as the most significant threats to the financial services… Read More

December 8, 2023 @ 8:50 am By Omar Faridi  |  

Airwallex shared data on the impact of a new generative AI tool that enhances the speed and efficacy of its “Know your Customer” (KYC) and onboarding processes. The new tool reduces ‘false positives’ by 50 percent “on average, while boosting the number of customers that… Read More

December 6, 2023 @ 10:09 pm By Omar Faridi  |  

Two-thirds (66%) of quick-service and fast-casual restaurant industry employees are at least somewhat stressed about their finances, according to a new independent study conducted by YouGov, commissioned by DailyPay. The research, which surveyed quick service restaurant (QSR) and fast-casual restaurant employees, indicates “that the majority… Read More

December 6, 2023 @ 4:14 pm By Omar Faridi  |  

Instant payment service FedNow offers individuals and businesses many benefits including greater efficiency, quicker access to their money, and reduced transaction costs. Yet, unlike conventional, slower payment methods, FedNow doesn’t offer any form of payment reversal or chargeback functionality. That begs the question: Will FedNow… Read More

December 6, 2023 @ 9:33 am By Omar Faridi  |  

Mondu, the fast-growing B2B payments company, today announces a new collaboration with Mangopay, a modular and flexible payment infrastructure provider for marketplaces and platforms. Through the partnership, the two companies will “offer marketplaces across Europe a proven, modular payments infrastructure which can be tailored to… Read More

December 5, 2023 @ 10:11 pm By Omar Faridi  |  

Americans’ primary objection to using cash in the current financial system is that “there are too many fees to access and move their money.” According to Coinbase (NASDAQ:COIN), stablecoins offer consumers “all the benefits of cash without the drawbacks, including being cheaper and faster to… Read More

December 5, 2023 @ 9:58 pm By Omar Faridi  |  

Maybank launched its Transition Finance Framework, the “first” by a Malaysian bank at the United Nations Framework of Convention on Climate Change’s 28th Conference of Parties (COP28) in Dubai, in a continued effort to drive transition finance. The launch was witnessed by Nik Nazmi Nik… Read More

December 5, 2023 @ 10:31 am By Omar Faridi  |  

The majority of UK consumers are unhappy with high-street banks, believing they have prioritized profits over “passing higher interest rates on to savers, new research has revealed.” A survey of 2,000 UK adults commissioned by SmartSave, run by Chetwood Financial, found that 65% of people… Read More

December 5, 2023 @ 8:44 am By Omar Faridi  |  

The pan-European Fintech Fourthline selected as Qonto’s technology solution in the verification of customer compliance during onboarding (KYC) in France, Spain and Italy. Fourthline is a European fintech founded in 2017 that “has developed a technology suite enabling financial services providers to carry out KYC… Read More

December 5, 2023 @ 8:11 am By Omar Faridi  |  

Allica Bank (LSE:WISE) has partnered with Wise Platform, Wise’s global payment infrastructure for banks and major enterprises, in order “to offer our established business customers a simple and low-cost way to send money overseas.” Now clients can seamlessly make and “manage their global payments directly… Read More

December 5, 2023 @ 7:35 am By Omar Faridi  |  

Halfords Group PLC, the UK’s largest provider of motoring and cycling products and services has selected Kriya, the embedded finance provider, “to power payments and credit for its trade account customers.” Under the partnership Kriya will “embed its financial tools across Halfords stores, customer teams,… Read More

December 5, 2023 @ 7:32 am By Omar Faridi  |  

Nucleus Financial Platforms Group, one of the UK’s independent, adviser platform groups, has appointed Alexander Filshie as Chief Financial Officer (CFO), “subject to regulatory approval.” He starts taking over from Mike Regan who, as previously announced, “has been appointed as Chief Commercial Officer.” Mike Regan… Read More

December 4, 2023 @ 11:49 pm By Omar Faridi  |  

In the latest round of the twice-yearly Survey on the Access to Finance of Enterprises (SAFE) in the euro area, covering the period from April to September 2023, firms reported “an increase in turnover, although the net percentage was lower than in the previous survey… Read More