Posts by Newsdesk
Chinese e-commerce group chooses Accuity compliance
Chinese e-commerce payments firm Skyee has appointed global financial crime group Accuity to improve and streamline its compliance screening. Skyee will use Accuity’s Firco Compliance Link, a service which meets international regulatory standards on customer authentication and financial crime screening. “As a pioneering service provider of cross-border payment solutions, Skyee is committed to eliminating illicit…
Read MoreBarclays announces payments tie-up with SAP
Barclays has announced a strategic partnership between its Barclaycard Commercial Payments division and enterprise software firm SAP UK. Barclaycard will integrate its B2B payment product, Precisionpay, into SAP’s global supply chain management platform Ariba. It will be the first product to launch on the Ariba Network, aiming to “combine the perks of card payments for…
Read MoreBanks change tack on approach to tech M&A
Traditional banking groups now consider the acquisition of new technologies as justification for mergers and acquisitions (M&A), and are adjusting how they assess deals, according to research from consultancy Accenture. The report, Riding the Consolidation Wave: Navigating the Next Wave of Consolidation, is based on a survey of global banking institutions from around the world…
Read MoreClearBank lands £60m to improve SME banking
ClearBank has been awarded a £60m grant by the RBS Alternative Remedies package to improve business banking for small and medium-sized enterprises (SMEs). The grant is part of a £775m package backed by the UK Government and overseen by Banking Competition Remedies, the organisation established to stimulate competition in the banking sector. Awards have been…
Read MorePreventing fraud in an open world
Throughout history fraudsters have been quick to exploit technological advances. Open Banking is no different. So how can organisations ensure they aren’t opening the door to criminal activity, asks Jennifer Turton… March 2019 may be the month that will be remembered for the Brexit deadline but, in the world of Open Banking, it is also…
Read MorePSD2: How soon is now?
The onset of PSD2 made 2018 a pivotal year for European banks, but it won’t be until later this year that the regulations grow some teeth. Geordie Clarke asks: will it achieve its intended result? It’s crunch time for European banks as far as Open Banking is concerned. In the months following the introduction of…
Read MoreKHCB adopts Token.io to enable its Open Banking services
Khaleeji Commercial Bank (KHCB), one of the leading Islamic banks in Bahrain, recently announced that it has partnered with Token.io as part of the bank’s preparations to provide open banking services to its clients in compliance with the new regulatory requirements. Token is represented by Tarabut Gateway, a subsidiary of Almoayed Technologies licensed by the…
Read MoreAre mortgages worth opening up for?
Open Banking Expo Magazine spoke to Skipton Building Society, Enterprise Chambers in London and The Online Mortgage Advice Centre about the use of Open Banking data within the mortgage sector. It’s a sobering thought for all professionals involved in banking and finance, that the average Brit is far more likely to get divorced than switch suppliers.…
Read MoreIndustry news: Klarna launches Open Banking platform
Source: Klarna press release Today, Klarna, one of Europe’s leading payment providers, announced the launch of its own Open Banking Platform. This platform will enable access to more than 4,300 European banks through a single Access to Account (XS2A) API in line with Payment Services Directive (PSD2). Klarna’s XS2A API is the most established and…
Read MoreIndustry news: Ant Financial unveils banking platform
Ant Financial Services Group and Hoperun Information Technology have created a Distributed Core Banking Platform (DCBP), to help financial institutions shift their business models from transaction to customer-focus. The China-based organisations said the DCBP is a “next generation banking product” that aims to help financial institutions tackle digital challenges, including distributed development, financial product management…
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