Posts by Newsdesk

Fintechs are increasingly helping financial institutions attain their wholesale banking goals, but the relationship between the smaller firms and large company executives still needs work, a survey has claimed. Reducing operational costs is the way most banking executives cite fintechs enabling them to reach these goals, according to 87 per cent of respondents to a…

More than a fifth of businesses in the UK believe decision-makers have not grasped the value and opportunities offered by financial technology providers. In a survey of 500 chief executives, chief financial officers and managing directors of large and medium-sized companies, foreign exchange and payments business Centtrip found a gulf between what was available to…

Nationwide has invested in a leading fintech, citing its aim to disrupt business banking by delivering “game-changing” customer service both on the high street and online. The building society, the world’s largest, has taken a minority stake in 10x Future Technologies. The fintech will work with Nationwide to deliver its first digital platform for business…

Accounting technology group Sage has partnered with payments fintech Modulr to help clients improve their management of accounting and payroll payments. The deal means businesses will be able to process salary and supplier payments within Sage accounting and payroll products Sage’s. Seamus Smith, executive vice president of global payments and banking at Sage, said improving…

Interbank network Swift is opening its Know Your Customer (KYC) Registry to corporates, allowing them to exchange data and documents with banking partners, gain efficiencies and prevent duplication. From the fourth quarter of 2019, all of Swift’s 2,000 corporate groups will be able to join the KYC Registry, which already includes 5,100 bank members. “Corporate…

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…

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…

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…