International Digital Money Transfer Transactions to Reach 2 Billion by 2024
- 6 years 8 months ago
- Money Transfers
A new study from Juniper Research has found that global international digital money transfer transaction volume will reach 2 billion by 2024; up from 1.1 billion in 2019.
Deutsche Bank Predicts Cryptocurrency Could Replace Fiat by 2030
- 6 years 8 months ago
- Blockchain
Deutsche Bank has published its outlook for the decade ahead, predicting growth in appeal of cryptocurrency given the fragility of fiat money. The 'Imagine 2030' report highlights the dangers of the forces holding the fiat money system unravelling in the next decade, in turn fuelling the demand for crypto. Deutsche Bank describes cryptocurrencies as "additions rather than substitutions", but believes this may change by 2030.
Morgan Stanley Vets Launch Cryptocurrency Derivatives Trading Platform
- 6 years 8 months ago
- Cryptocurrencies
A group of former Morgan Stanley executives is building a cryptocurrency derivatives trading platform. Based in Sinagpore, Phemex is the brainchild of Jack Tao, an 11 year Morgan Stanley veteran who worked as a software engineer on the bank's electronic trading desk, specialising in high frequency trading. Tao has assembled a group of eight former Morgan Stanley staffers for the new venture, which wants to be "the world's most trustworthy...
Payments Fraud Poses Risk to Retail Growth
- 6 years 8 months ago
- Payments
Thousands of retailers and millions of shoppers are being targeted by fraudsters this weekend as the holiday shopping season begins, according to a comprehensive study by retail and fraud experts at GBG – the global identity data specialist.
How to Steal $1 Million by Email: Check Point Researchers Detail Million-dollar Fraud Against Chinese VC Firm
- 6 years 8 months ago
- Cybersecurity
Researchers at leading cyber-security company Check Point have revealed how Chinese hackers were able to steal $1 million from a Chinese venture capital firm through a simple but convincing business email compromise (BEC) scam. The $1M was seed funding that was intended for an Israeli start-up company. Neither the VC nor the start-up suspected anything was wrong, until the start-up realized they hadn’t received the funding. Both sides then...
European Corporate and Investment Banks are in Great Difficulties, CIB Outlook 2019 Report Reveals
- 6 years 8 months ago
- Consultancy
The European consulting firm EUROGROUP Consulting, in an exclusive annual study on corporate and investment banking (European CIB Outlook 2019), reveals the numerous challenges European CIBs urgently need to address, and outlines strategic and organisational solutions to help them reduce the performance gap with their US counterparts.
UniCredit to Axe 8000 Jobs
- 6 years 8 months ago
- Retail Banking
Italy's UniCredit says it will cut 8000 jobs and close 500 branches over the next three years as part of a programme to boost shareholder value. The bank's 'Team 23' programme aims to increase net profit to EUR5 billion by 2023 and enable it to return EUR8 billion to shareholders through buybacks. To help achieve this, there will be major job cuts and branch closures in Italy, as well as some in Germany and Austria. Meanwhile UniCredit has set a...
mthree Makes Raft of Hires as Part of Global Restructure
- 6 years 8 months ago
- People Moves
Emerging technology talent specialist mthree has made a string of senior hires as part of its continued growth. mthree, which works with leading global investment banks and fintechs, now employs more than 600 staff across four continents. The new hires come after the business reported record revenues in 2018 and are on-track to go beyond that with revenues of c. £39m in 2019.
Wirecard provides seamless payment solutions to ride hailing platform CarGo Technologies
- 6 years 8 months ago
- Payments
Wirecard, the global innovation leader for digital financial technology is cooperating with CarGo Technologies for seamless payment solutions. The goal is to team up for all in-app payments for the ride hailing platform in Belgrade, Vienna and Zurich where CarGo Technologies is present, and as a payment partner for the company’s expansion.
Mexican SMB Lender Konfio Lands $100 Million in Funding
- 6 years 8 months ago
- Artificial Intelligence
Mexican small business lender Konfio has completed a $100 million funding round led by SoftBank's Latin American fund. Vostok Emerging Finance also supported the funding round along with other existing investors QED and Kaszek Ventures. Founded in 2014, Konfio uses technology, data analytics, and artificial intelligence to provide funding for companies, many without any formal credit history.
Esma Proposes Development of Consolidated Tape for European Equities
- 6 years 8 months ago
- Regulatory Standards, Security
Europe's top securities regulator has recommended the establishment of a real-time consolidated ticker tape to improve transparency for equities across the EU's fragmented markets.
Yolt Chief Moves Back to ING
- 6 years 8 months ago
- Banking, People Moves
Frank Jan Risseeuw, CEO of account aggregation platform Yolt, is moving across to ING to take charge of the Dutch bank's 'Model Bank' strategy. One of the cornerstones of ING’s Think Forward Strategy projects, Risseeuw will lead the integration of four ING Retail countries to a new single banking platform.
Deloitte Predicts 'Japanification' of Banking in 2020s
- 6 years 8 months ago
- Retail Banking
Leaders of banks need to look beyond banking in anticipation of disruption to their industry in the next decade, according to Deloitte. In its '2020 banking and capital markets outlook' report, the Big Four firm highlights its forecasts for financial services in the next year and beyond. Deloitte's broad prediction for the next decade is that of a consolidated industry with fewer banks existing in ten years' time. Fintechs will become...
Keesing Technologies launches unique industry platform
- 6 years 8 months ago
- Digital Identity
Keesing Technologies, the leading global identity verification provider, announces the launch of Keesing Platform: the new online information source for and by anyone involved in the security document and identity management industry. The platform will replace one of the world’s most renowned magazines of the industry; the Keesing Journal of Documents & Identity (KJD&I).
Eventus Systems selects Itiviti’s Managed FIX Service for drop copy consolidation
- 6 years 8 months ago
- Trading Systems
Itiviti, a leading technology and service provider to financial institutions worldwide, today announced that Eventus Systems, a multi-award winning global trade surveillance and market risk platform provider, has selected Itiviti’s Managed FIX Service to consolidate drop copies from market centers.
