Category: digital currencies

Dubai International Financial Centre (DIFC), the financial centre of the Middle East, Africa and South Asia (MEASA) region, co-hosted the virtual launch of the International Monetary Fund (IMF) April 2022 Regional Economic Outlook (REO) for the Middle East and North Africa (MENA) region. According to the IMF report titled ‘Divergent Recoveries in Turbulent Times’, the…

New research conducted by embedded finance provider YouLend and payment service provider Dojo has revealed a significant trend when it comes to the way businesses are operating: they are ditching cash payments. In fact, only five per cent of businesses in the UK only accept cash today, according to the data, published in a new…

Fintech startup xpate has unveiled a core banking solution that links merchant and acquirer systems to offer agile, flexible payment processing. According to xpate, many in-house core banking platforms were built several years ago and are rapidly becoming outdated, as the underlying technology is obsolete or can no longer be adapted to onboard rising transaction…

Microfinance – the lending of relatively small amounts to consumers, small businesses or sole-traders – is improving quality of life and increasing the resilience of low-income customers to withstand economic shocks, a new report has revealed. It is also reaching people without prior access to financial services without creating overindebtedness. There are around 25 million…

Open banking platform TrueLayer has teamed up with Singapore-based fintech Thunes to ‘streamline and improve the payment experience of consumers’ in the UK and Europe. Through the partnership, Thunes will integrate TrueLayer’s open banking payments into its platform as one of the payment methods available to Thunes’ 100,000 merchants globally. This will mean marketplace platform…

European investment and savings platform Trade Republic has topped up its 2021 Series C round with an investment of €250 million led by the Ontario Teacher’s Pension Plan. The funding gives Trade Republic a valuation of more than $5 billion (€5 billion), and will enable the company to “double down” on its product. “We are…

Financial services organizations are digitizing and automating more processes to keep up with competition, and intelligent process automation (IPA) — which has been growing in use about 20% across all fields — is now becoming ubiquitous. Market research firm Everest Group in a recent report ranked IPA technology vendors and looked at the market for…

The technologies banks are eyeing for future investments are in flux. What’s on the horizon for banking? Here’s a look at the new tech that bank leaders are considering investing in, according to a recent report by Forrester Research: AI-powered Robotic Process Automation (RPA): RPAs follow a rigid, rule-based automation, but if powered by AI,…

Data for data’s sake is more than just wasted resources; it can also create frightening operational risks for the bank. Banks are known for being data-rich, which sounds promising since data is often touted as the centerpiece of the prototypical open banking environment. But data without a plan can harm more than it helps, Wendy…

Digital transformation budgets are on the rise, with larger companies with greater than $1 million in revenue spending up to 62% more on digital transformation. At smaller organizations, that number is still on the rise at 42%, Ashim Gupta, chief financial officer at robotic process automation (RPA) vendor UiPath, said during Thursday’s earnings call. “That…