Category: Doing Business Overseas
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Stablecoin News for the week ending Wednesday 11th May.
Here is our pick of the 3 most important Stablecoin news stories during the week. CBDC or Private Company issued or Algo stablecoins! First, let’s start with CBDC’s. Most central banks are exploring central bank digital currencies (CBDCs), and more than a quarter of them are now developing or running concrete pilots. This BIS paper updates…
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Fintechs Are Being Increasingly Viewed as Valuable Partners by Competitive Banking Executives
Despite facing greater levels of competition, the c-suite banking industry feels like it has the technology, resources and partnerships to compete effectively. This was the primary theme of a new report by Economist Impact and WSO2, which examined how banking institutions are addressing cultural changes, embracing digital skills and relying on technology to achieve a…
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UK Fintech News Roundup: The Latest Stories 11/05
Every Wednesday, we delve into the latest fintech updates from across the UK. This week sees Plum launch a new savings account; while an educational cyber-security themed escape room-style experience launches in Cardiff. Novus named the ‘Boldest Fintech’ Challenger bank Novus has been named the ‘Boldest Fintech’ at the 2022 BOLD awards despite only officially…
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Lemonade Finance Opens Remittance Corridor Between UK and Africa With TrueLayer Integration
With time, terms and fees posing as common hurdles for remittance services, many are turning to the abilities of open banking to streamline their services; and the fintech firm Lemonade Finance is no exception. Founded in 2020, the firm exists to serve the African diaspora, with a focus on enabling Nigerians, Ghanaians and Kenyans in…
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Enterprise Nation Launches New App With Mastercard To Help Small Businesses Make a Plan for Growth
Enterprise Nation‘s new ‘Make a Plan’ app, launched in tandem with Mastercard, is set to help micro and small businesses (MSEs) access guidance, tools and support from their phone. The newly-developed app has been designed to direct MSEs’ business growth by supplying relevant resources, programmes and digital tools from different support organisations to help founders…
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ComplyAdvantage Launches a Live Tracker for Russian Sanctions
The London-based regtech company ComplyAdvantage has developed a new real-time interface that allows users to keep track of the 8200-plus sanctions that have been placed on Russia following its invasion of Ukraine back in February. The company’s new dynamic ‘Sanctions On Russia‘ landing page provides a comprehensive insight into the global sanctions being levied against…
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In a Remote World, Expensify Builds In-Person Perks
Business expense management firm Expensify is in the process of beta testing a unique new feature. Though, it’s more of a perk than a feature. The Expensify Lounge is a chic new space in the entrance to Expensify’s San Francisco office located in the heart of the financial district. The idea for the Expensify Lounge…
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Listen: How automation is boosting PenFed’s annual origination assets to $15B
PenFed owes its multibillion-dollar growth in annual origination assets to a sweeping automation overhaul. The McLean, Va.-based credit union has automated much of its front- and back-end business processes, including origination platforms, decisioning and modelling capabilities, and credit-processing functions. And these technology overhauls were not just for show. Automation helped the credit union grow origination…
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Santander Launches Tool to Help Users Measure and Reduce their Carbon Footprint
Banco Santander is launching a new tool to help retail customers track the carbon footprints of their transactions. The bank is partnering with ClimateTrade and the Mastercard donation platform to enable users to offset their impact. The app is currently available to customers in Spain and will soon go live in Poland, Portugal, and the…
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Banks join IXB pilot for instant cross-border payments
Twenty-four banks, including Bank of America, JPMorgan and Wells Fargo, are part of a pilot project for immediate cross-border (IXB) payments in dollars and euros. The IXB pilot project involves U.S.-based The Clearing House’s (TCH) real-time payments (RTP) network, global messaging service SWIFT and the European EBA Clearing, which provides a real-time pan-European payment infrastructure,…