Category: Doing Business Overseas

Last week the EU reached an agreement on its Markets in Cryptoassets (MiCA) directive, delivering a single rule book across 27 countries and bringing years of debate on how to regulate the digital-asset industry to an informal close. As the final step, it still needs to be approved by the Council and the European Parliament.…

The boss of Revolut Ltd. said his fintech startup has enough funding for at least two more years and would not be looking to raise money, as venture capital dries up across the technology industry. Nikolay Storonsky, the 37-year-old chief executive officer, said the London-based company is now profitable and “aggressively expanding” in Latin America,…

Citi has appointed former Goldman Sachs executive Artie Ambrose as head of treasury and trade solutions operations, the bank announced Tuesday. Ambrose was formerly global head of treasury services operations at $1.6 trillion Goldman Sachs, where he helped build the investment bank’s digital banking and treasury business. Ambrose will now focus on scaling operations, reducing…

Australian superapp Bano has selected Currencycloud to facilitate low FX rates. Integrating Currencycloud’s API offers Bano users access to Currencycloud’s low FX rates, which makes investing in the U.S. stock market more accessible for Bano users. “Bano is committed to simplifying financial management for Australia’s GenZ and Millennials,” said Bano Head of Financial Markets and…

As virtual assistants—or chatbots as they are commonly called—burst onto the scene a decade ago, many banks saw a tremendous opportunity to lower service costs, deflect calls during peak hours, and offer 24/7 customer support. Early chatbot success in e-commerce encouraged banks to explore ways to leverage them for customer service. The rapid proliferation of…

Crazy decision making at UK’s Audit Watchdog As if to demonstrate the appalling way in which some quangos operate in the UK the Financial Reporting council (FRC) that regulates accountants, auditors and actuaries has concluded a deal with EY to advise on a new classification scheme for insurance contracts. Not surprisingly the decision has raised…

Atomic and Bond Financial have partnered to launch Atomic’s Repay solution. The new offering enables users to turn large transactions into a series of smaller, recurring payments. Atomic made its Finovate debut at FinovateFall in September 2021. Payroll connectivity solution provider Atomic and embedded finance company Bond Financial Technologies have expanded their existing partnership with…

TD Bank is aligning wealth management across physical and digital touchpoints as 2022 steams ahead. TD Bank, a Cherry Hill, N.J.-based subsidiary of $1.73 trillion TD Group, released its first roboadvisor solution in 2021, but views its digital tools as a “complement” to the in-person experience, Ken Thompson, TD Bank head of U.S. wealth shared…

A new trading platform operated by OneChronos Markets LLC will let institutional investors bid for equities in an automated auction, an effort to disrupt the ages-old system for buying and selling stocks. Photo Courtesy of Bloomberg News OneChronos started this month with Bank of Montreal, Jefferies Financial Group Inc. and more than a dozen other broker-dealers signed…