Standard Chartered announced the appointment of Rene W. Keller as Chief Information Officer (CIO), Corporate, Commercial & Institutional Banking (CCIB). Based in Singapore, he reports to Dr Michael Gorriz, Group Chief Information Officer, and is responsible for the business’ technology strategy, architecture and delivery value chain that will drive strategic business outcomes.

The global securities finance industry generated $8.66 billion in revenue for lenders in 2019, according to market data provider DataLend.

While 2018 was a record amongst recent years for securities lending revenue, 2019 global revenue was down 13% in comparison. Securities lending revenue is calculated as the amount paid by borrowers, typically broker-dealers on behalf of their hedge fund clients, to temporarily borrow equity and fixed income securities from long-holders of these assets, known as beneficial owners. 

Tata Consultancy Services (TCS), a leading global IT services, consulting and business solutions organization, has announced that Manchester-based Voyager Alliance Credit Union and its associate entity, Retail Credit Union, have successfully moved to the TCS BaNCS™ Cloud for Banking to digitally transform their core banking operations and enable faster payments.

RoboMarkets, a European investment company that provides financial services to clients from many European Union countries, announces a mobile version of R Trader, the Company’s proprietary web platform. RoboMarkets released the terminal’s mobile version due to the key demand for it on behalf of the Company's clients.

Icertis, the leading provider of enterprise contract management in the cloud, today announced the winners of Icertis’ AI/ML and Blockchain Hackathon, at the grand finale held in Pune. The winning team’s innovative solution utilized machine learning models to analyze crop distress and weather patterns.

TreasuryXpress, the global leader in on-demand treasury management software today announced that Payclip (Clip), an innovative fintech company and Mexico’s leading online payment processor, has selected the firm’s on-demand treasury management solution (TMS), to help achieve straight-through processing of their entire treasury operations.

Mastercard today announced an agreement to acquire RiskRecon, a leading provider of artificial intelligence and data analytics solutions to support companies in protecting their cyber systems and infrastructure.

Whilst we talk about legacy technology as if it is commonplace across industries, it’s a relatively new term within Financial Services. The financial services industry didn’t used to compete by innovating for customers, instead they relied on regulatory barriers and even, to a certain extent, the barrier to entry of expensive infrastructure. With the advent of low-cost cloud computing and the emergence of challenger banks, that’s now changed. 

Leading local payments platform PPRO has sold its former issuing business unit, now called Crosscard S.A., to investors, in a transaction led by existing PPRO investor HPE Growth. Crosscard issues e-money accounts with integrated prepaid credit and debit Mastercard cards for consumers (under the brand name VIABUY) and businesses (under the brand names Crosscard and Fleetmoney).