The move comes amid a broad downturn in the cryptocurrency market and new scrutiny on stablecoins. It’s the last remnant of the Diem project, formerly known as Libra, that Facebook kicked off some years ago. Meta plans to shutter its Novi digital wallet on Sept. 1, just eleven months after the company formerly known as Facebook debuted it, according to CNBC. The company announced the upcoming closure on Novi’s website, informing customers that […]
FintechOS invests $15 million to update their platform. New capabilities include ‘Buy Now, Pay Later’, split payments loans, overdraft and credit facility options for end customers, as well as new mortgage products. The company is coming to Banking 4.0. FintechOS, a technology provider for banks, insurers, credit unions and other financial services companies, today unveiled its latest product release FintechOS 22. „FintechOS 22 combines composable digital and core business blocks […]
Vacuumlabs, the global provider of full-stack fintech solutions, recently announced a global partnership with Thought Machine, the cloud native core banking technology company, following the two firms’ successful cooperation in Asia. Vacuumlabs recently completed the first-ever installation in Asia of Thought Machine’s core banking engine Vault. „ „This significant project has enabled a new virtual bank to launch in Hong Kong – along with Asia’s first numberless payment card. The […]
Mastercard today announced it has entered into an agreement to acquire Aiia, an European open banking technology provider offering a direct connection to banks through a single API, allowing its customers to develop and launch new digital solutions that meet the needs of everyday life, work and play.. Aiia is a licensed Payment Initiation Service Provider (PISP) and Account Information Service Provider (AISP) and operates under the supervision of the Danish Financial Supervisory Authority […]
Visa today announced it has signed a definitive agreement to acquire Tink, a European open banking platform that enables financial institutions, fintechs and merchants to build tailored financial management tools, products and services for European consumers and businesses based on their financial data. Visa will pay total financial consideration of 1.8 billion Euros, inclusive of cash and retention incentives, to acquire Tink. Through a single API, Tink allows its customers […]
Smart Fintech launches SmartPay, the first alternative payment solution through Open Banking authorized by NBR in Romania. The fintech aims to execute in 2021 a number of several thousand payments per month through the SmartPay solution and expects the Open Banking competition to start in Romania. The new Open Banking system brings significant changes to the traditional financial market. At the European level, the demand for Open Banking services is […]
The Economist Intelligence Unit (EIU), on behalf of Temenos, surveyed 405 global banking executives on the changes they see taking place in their industry to 2020 and 2025, their organizational response, and the longer-term impact on their strategic development. This focuses on how these retail banks are incorporating and advancing technology delivery for their current and future customers. Key highlights include: # Open banking is seen as a true opportunity; […]
Banks must collaborate with start-ups to remain relevant as the financial ecosystem evolves from ‘Open Banking[1]’ to ‘Open X[2]’ Retail banks are struggling to deliver a positive last-mile experience[3] as customers demand more comprehensive and personalized banking, according to the World Retail Banking Report (WRBR) published today by Capgemini and Efma. “In an era of rising consumer expectations, banks are challenged to offer their customers a consistent engaging experience across all channels – branch, web and […]
Cross-border banking and payment services in the EU are being held back by a lack of regulatory clarity and harmonisation, says the European Banking Authority (EBA). The rise of digital services should help established and newcomer providers reach more people, including across borders, says the EBA in a report developed under its Fintech Roadmap. However, concludes the report, the promise is not being fully realised within the EU, in part […]
Under the slogan „compliance alone is a losing strategy”, the 2019 edition of Banking 4.0 will be focused on the new emerging technologies that will change the financial services market and banking industry in the coming years: AI, blockchain, machine learning, robotic process automation (RPA) and instant payments, to name just a few. Who can possibly knows better then Brett King, the author of best seller book Bank 4.0, how […]