Four Major Banks Invest In An ID Authentication Firm
Trulioo draws on more than 400 data sources to authenticate the identities of five billion consumers and more than 250 million businesses.
Financial Technology
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HSBC Looks to Blockchain to Solve a Major Pain Point in Trade Finance
The letter of credit transaction in #trade #finance is a relatively neglected area when it comes to digitization, which is why #HSBC bank chose this transaction to test out its #blockchain-related initiatives, Joshua Kroeker, blockchain lead for Global Commercial Banking Growth and Innovation at HSBC, told Bank Innovation. “The letter of credit transaction had fallen […]
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Major Indian Bank HDFC Bans Cryptocurrency Purchase
EXCLUSIVE – #HDFC (Housing Development Financial Corporation), one of India’s largest private sector #banks has banned #cryptocurrency purchases from its cards, both credit and debit. In an email sent to its customers yesterday, HDFC notified its users that it will no longer allow cryptocurrency purchases on its credit, debit and prepaid cards. The email read: …Read More
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Major Nordic Banks Join Hands to Form Cross-Border Ecosystem
#Major #Nordic #banks are coming together to explore the possibility of a regional cross-border payment infrastructure between the different Nordic countries of Sweden, Denmark, Finland and Norway. These banks include Danske Bank, DNB, Handelsbanken, Nordea, OP Financial Group, SEB and Swedbank. In a statement released by the banks today: The Nordic payment markets are among […]
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Innovation Hub Motive Labs Seeks to Solve Major Pain Points of Retail Banks
EXCLUSIVE – The two fundamental keys to most challenges #retail #banks and payment companies face on the #innovation front are personalization and efficiency, according to Alberto Corvo, a founding partner at #fintech focused investment firm #Motive Partners. To help banks find these solutions, Corvo’s Motive Partners, along with Allied Irish Bank, Bradesco, Emirates NBD, Royal […]
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China’s Central Bank Cracks Down on Major Payment Platforms
The People’s #Bank of China (PBOC) will require #payment platforms to allocate as much as 50% of their total client funds in a regulated interest-free reserve. Additionally, the PBOC also said it would regulate QR code payment to reduce growing concerns about risks related to these types of transactions. The new regulations will have an […]
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Major European FIs Not Prepared for Regulatory Deadline of MiFID 2
EXCLUSIVE – A new set of financial regulations in the form of #MiFID II has arrived in Europe today, and not everyone is #prepared. MiFID II (or Markets in Financial Instruments Directive 2) is a massive set of regulations (7,000 pages) geared towards asset managers and brokers as well as traders of stocks, ETFs and […]
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Traditional Financial Institutions Still Consider Fintechs as Major Threat
Many #financial institution businesses see #fintech as a #threat. At least, that’s according to a recent report by PwC, which says that 88% of incumbent FIs see themselves losing revenues to fintech innovators in the space. According to PWC’s most recent report “Redrawing the Lines: FinTech’s Growing Influence on Financial Service,” that 88% number is […]
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SMB Expense Management Provider Bento Snags Major Partnership with The Brink’s Compnay
EXCLUSIVE – The #Brink’s Company and #expense #management #provider #Bento for Business introduced a new Travel & Expense Debit Card at Finovate in New York. The #partnership is a #major win for Bento, who launched only two years ago with a prepaid card for SMBs. “The Brink’s T+E card is different from our core product […]
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3 Major Takeaways From PayPal’s Earnings
#From new apps to surprising partnerships, PayPal has had another buzzing quarter. The payments giant ended the year with 197 million active customer accounts, adding 5.4 million new accounts last quarter. The holiday shopping season — the largest ever &8212; helped drive a 25% quarterly increase in payments volume, resultingRead More
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