Category: digital currencies

As digitisation continues to evolve the financial industry in the Middle East and Africa region (MEA), global conglomerates are partnering with local companies to capitise on the booming market. Mastercard, the global paytech, is no exception, as it concludes a busy month of announcing new partnerships. Partnering with One Global and i2c to provide tailored…

NEW YORK CITY — Citi is blazing a path toward comprehensive AI-based credit management. One of the nation’s largest banks, $2.3 trillion Citi has leveraged AI for everything from document handling and back-office process automation to sanctions and capital management. Now, Citi will strengthen its AI capabilities for consumer credit management and customer experience, sorting…

Revolut Business is launching ‘Spend Management’ in the UK, the US and EEA. Spend Management is a powerful new suite of solutions to help CFOs and controllers manage their teams’ spending. The tools are available on both mobile and web for all Revolut Business customers. After the launch of Payroll for UK customers this February, Spend Management…

Broadcom Inc. agreed to buy cloud-computing company VMware Inc. for about $61 billion in one of the largest technology deals of all time, turning the chipmaker into a bigger force in software. VMware shareholders can choose to receive either $142.50 in cash or 0.2520 shares of Broadcom stock for each VMware share, according to a…

Diversity, equity and inclusion (DEI) efforts at financial institutions need to go beyond a checkmark on a list of to-dos to become part of a lender’s DNA. At $1.94 trillion Wells Fargo, “from leadership, I think we have the commitment, but I think we all are, admittedly, still in that check-the-box phase,” Nathan Bricklin, head…

The amount of e-waste produced by bitcoin has been found to be five times more than is produced by some entire nations; according to analysis of the topic by StockApps. According to a StockApps analysis, bitcoin produces close to 30, 700 metric tons of e-waste a year. When measured against an absolute scale, this figure…

Businesses worldwide are facing growing demand from customers, prospects and partners to incorporate cryptocurrencies into their operations and treasury functions. Mainstream banks have been slow to respond. Meanwhile, existing crypto platforms only serve the extreme ends of the customer spectrum – that is, either small-scale retail customers or multi-million dollar institutional clients.  The idea behind…

Lloyds Bank has bolstered its collaboration with financial software firm Alfa to make it easier for customers to use asset finance to manage their working capital. Under their partnership, Lloyds Bank will upgrade to Alfa Systems v5, a cloud-based system that automates its asset finance solution’s customer servicing, income collection and recovery and pay-out handling.…

Kearney, the global consultancy partnership, has released the fourteenth edition of its annual European Retail Banking Radar. The latest report shows that European banks have enjoyed a strong recovery in 2021 from previous pandemic disruption, mainly thanks to large provision releases. As banks reported their second-highest profits in 15 years, the average profit per customer…

Accountancy Europe on assurance of EU ESG disclosures Accountancy Europe has released an interesting discussion paper on sustainability assurance under the proposed Corporate Sustainability Reporting Directive (CSRD). The CSRD introduces an EU-wide requirement for limited assurance on sustainability information, with the end goal to move to reasonable assurance in the longer term. Assurance is one…