Category: banking industry

Explore the RegTech Revolution

Apple Pay is on pace to account for 10% of all global card transactions

Apple’s mobile wallet is gobbling up a growing chunk of card payments around the world. As the service grows, it’s becoming a greater challenge to rivals like PayPal and attracting the attention of competition watchdogs. Apple Pay accounts for about 5% of global card transactions and is on pace to handle 1-in-10 such payments by…
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19th February 2020 0

Starling Bank raises £60 million

Starling Bank, “the leading UK digital bank,” has raised £60 million from its existing investors, Merian Global Investors and JTC. The investment will bring the total raised by Starling to £323 million and follows two funding rounds of £105 million in aggregate led by Merian in 2019. Starling has opened 1.25 million accounts for consumers…
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13th February 2020 0

Revolut rolls out Open Banking tool

Revolut has launched an Open Banking feature, giving UK customers the ability to see their bank accounts from other providers from within the challenger’s app. Revolut teamed up with financial API specialist TrueLayer to enable all of its retail and business customers to see balances and transactions from other high street and challenger banks. Retail…
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12th February 2020 0

Municipality of Zermatt Now Accepts Payments in Bitcoin

The municipality of Zermatt, in cooperation with Bitcoin Suisse, announced that it will accept Bitcoin as a means of payment for local taxes and official transactions with immediate effect. A point-of-sale solution provided by Bitcoin Suisse has been installed in the Zermatt town hall, so that fees for services from local authorities can be paid…
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7th February 2020 0

PayPal highlights Venmo profit strategy

PayPal reports that peer-to-peer payments tool Venmo is on a path to profitability. In a fourth-quarter earnings report Wednesday, PayPal CEO Dan Shulman told investors the company is pushing ahead on its Venmo monetization strategy. Key enablers include Pay with Venmo, which allows consumers to use the tool to pay at millions of e-commerce sites.…
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4th February 2020 0

Taxman unearths £200m in joint operation

M Revenue & Customs has helped uncover £200m worth of suspected tax evasion and money laundering in the UK. The action — which occurred as part of a series of investigations in Australia, Canada, the Netherlands, the US and the UK — is centred around a Central American financial institution whose products and services are…
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3rd February 2020 0

Sweden aims to become a FinTech superpower

The Nordics in general and Sweden, in particular, are experiencing a FinTech boom. However, new regulations and investment worries could slow down growth. Sweden’s future is digital. Swedish entrepreneurship is about more than IKEA, H&M and Volvo. In the last three decades, the nation has remade itself into an innovative technology hotbed. Spotify, Skype and iZettle are…
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30th January 2020 0

Temenos and Google Cloud Announce Global Strategic Partnership to Accelerate Banks’ Digital Transformation in the Cloud

Temenos showcases leadership in the cloud delivering its software across hybrid and multi-cloud environments; will be the first global banking software provider to run on Google Cloud Anthos Temenos and Google Cloud will jointly go-to-market with leading-edge financial services offerings in the cloud to drive scalability, operational efficiency, time-to-market, and innovation Temenos will make its…
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29th January 2020 0

Big Tech will push deeper into finance this year

Technology giants from Google to Apple are looking to take on the financial services industry. Last year, Apple debuted its credit card; in 2020, Google is set to launch consumer bank accounts. But Big Tech companies share one thing in common: they don’t want to be regulated like banks. Big Tech may want to get…
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28th January 2020 0

Former U.S. regulator leads effort to create digital dollar

The project will explore how a cryptocurrency could produce a more efficient and safer means of cross-border trade, clearance and settlement. The former chair of the Commodity Futures Trading Commission (CFTC) has partnered with Accenture to create the non-profit Digital Dollar Project, which plans to explore the creation of a U.S. Central Bank Digital Currency (CBDC).…
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27th January 2020 0