Tagged: financial services

January 25, 2021 @ 10:43 am By Omar Faridi  |  

The blockchain and digital assets space is well-positioned for even more growth and adoption in 2021 by mainstream consumers and institutions. The COVID-19 outbreak has dramatically accelerated the shift towards all-digital platforms and services because it’s no longer considered safe to visit physical business locations…. Read More

January 20, 2021 @ 9:48 pm By Omar Faridi  |  

Chicago-based Avant, a Fintech firm that aims to give everyday Americans “access to the financial products they deserve,” notes that millions of US residents continue to struggle through the COVID-19 pandemic. However, a $900 billion relief bill was recently signed into law (toward the end… Read More

January 15, 2021 @ 11:07 am By Samantha Hurst  |  

NYMBUS, a U.S. financial service platform provider, announced on Friday that Rilla Delorier and John Janclaes have joined its new industry advisory board. According to NYMBUS, the inaugural team of executives will provide valuable perspectives for helping more financial institutions accelerate their digital growth with… Read More

January 14, 2021 @ 11:36 pm By Omar Faridi  |  

Grab Financial Group (GFG), the Fintech services division of Grab, has revealed that it has secured more than $300 million in capital through its Series A investment round – which was led by Hanwha Asset Management Co. Ltd., a South Korea based asset management firm…. Read More

January 14, 2021 @ 7:33 pm By Omar Faridi  |  

DiskarTech, which is Rizal Commercial Banking Corporation’s (RCBC) digital banking platform, has become the number 1 finance or Fintech app in the Philippines to have launched services in 2020 across distribution platforms in terms of total downloads, according to App Annie (a provider of analytics… Read More

January 14, 2021 @ 8:07 am By Omar Faridi  |  

Ireland’s Carne Group, the provider of regulatory reporting and compliance tools to the asset management sector, has acquired a €100 million equity investment from Vitruvian Partners. Established in 2004, Carne has 350 professionals on its payroll who are based in 8 different locations across the… Read More

January 14, 2021 @ 8:04 am By Omar Faridi  |  

Mike Kühnel, Partner, Frankfurt at Bain & Company, Thomas Olsen, Partner, New York at Bain & Company, John Fildes, Expert Partner, Sydney at Bain, and Karl Gridl, Senior Manager, Zurich at Bain, have all co-authored a brief, titled “For Digital Assets, Private Markets Offer the… Read More

January 13, 2021 @ 11:35 pm By Omar Faridi  |  

Bank of Lithuania, the nation’s central bank, has revealed that the number and value of payments completed via its platform, CENTROlink, had doubled last year, while instant payments surged by around four times (when compared to previous years). Keeping these developments in mind, Bank of… Read More

January 13, 2021 @ 2:38 pm By Samantha Hurst  |  

BitGo, a digital asset financial services provider, announced on Wednesday it has appointed Jeff Horowitz as its new Chief Compliance Officer (CCO). According to BitGo, Horowitz recently served as COO for Coinbase. He will oversee BitGo’s Compliance and AML programs across the entire enterprise to… Read More

January 12, 2021 @ 10:22 pm By Omar Faridi  |  

A recently published whitepaper from Massachusetts-based International Data Corporation (IDC) and Huawei examines how banking institutions across the globe have been dealing with the COVID-19 outbreak. The paper identifies or recommends the way forward in a post COVID world which is now considered the “new… Read More

January 12, 2021 @ 9:45 pm By Omar Faridi  |  

A major part of Indonesia’s economy is supported by SMEs, which represent approximately 60% of the nation’s GDP. Many of the small businesses depend on a lot of manual processes and bookkeeping, however, the impact of the Coronavirus pandemic has led to SMBs becoming more… Read More

January 11, 2021 @ 9:45 pm By Omar Faridi  |  

Canadian banking group Scotiabank has noted that its strategic investments in machine learning (ML) technologies are beginning to pay off during the Coronavirus crisis, allowing it to effectively serve clients as they try to cope with these uncertain and challenging times. Analysts at the bank’s… Read More

January 11, 2021 @ 1:30 pm By Omar Faridi  |  

The Kava decentralized finance (DeFi) platform is “coming out the gates swinging” in 2021 with a “feature-packed” product roadmap – which includes two new native apps and crypto tokens, “decentralized bridges” to onboard major cross-chain digital assets, and several other features to “reinforce the safety… Read More

January 10, 2021 @ 10:20 pm By Omar Faridi  |  

Banking Circle, a financial infrastructure developer, reveals that one of the most notable observations from last year was the resilience that so many businesses had shown during the unprecedented socioeconomic uncertainty created by the COVID-19 pandemic. The Banking Circle team has stated that they consider… Read More

January 9, 2021 @ 12:23 pm By Omar Faridi  |  

Blockchain security firm CipherTrace recently explained and discussed the differences between virtual asset service providers (VASPs), money service businesses (MSB), money transmitters, digital asset customers, and how they impact crypto-related compliance measures. CipherTrace noted that cryptocurrency, digital assets, convertible virtual currency, and other terms seem… Read More

January 7, 2021 @ 11:58 pm By Omar Faridi  |  

China’s reserve bank stated on January 6, 2021 that it will be making its monetary policy more flexible, targeted and appropriate this year. The country will begin focusing on supporting smaller companies as the Chinese economy tries to recover following the COVID-19 outbreak. The People’s… Read More

January 5, 2021 @ 11:07 pm By Omar Faridi  |  

Switzerland-based SafeSide Life, a digital life insurance solution provider, has teamed up with miira, a comparison platform for enhancing personal retirement planning (that’s powered by PostFinance’s Innovation Lab). Through the partnership, the companies will aim to improve how consumers analyze financial protection requirements and subsequently… Read More

January 5, 2021 @ 8:13 pm By Omar Faridi  |  

Like many other sectors of the global economy, the financial services industry is experiencing what many consider to be a data revolution. The international banking sector (along with other major industries) generates large amounts of user data when handling hundreds of billions of transactions. Data… Read More

January 5, 2021 @ 11:08 am By Samantha Hurst  |  

  TagPay, a France-based provider of a scalable and open core banking system technology specifically for financial service providers, announced on Tuesday it secured a €25 million investment from Long Arc Capital. TagPay reported that through the investment, Long Arc Capital takes a majority stake… Read More

January 4, 2021 @ 11:32 pm By Omar Faridi  |  

The Institute for Development and Research in Banking Technology (formed by the Reserve Bank of India) has revealed that the digital economy sector in India is expected to “double its output as early as 2025.” Digitization in India is expected to lead to “widespread economic… Read More