HSBC have launched a new cross border e-commerce payment solution for banks worldwide, enabling their merchant business customers trading on e-commerce sites to seamlessly receive EUR and GBP payments via their local bank account.

Prior to HSBC’s introduction of this virtual account solution, businesses in certain jurisdictions were only able to access EUR and GBP funds using cross-border payments at greater cost to e-marketplace platforms and merchants, due to additional fees and FX rates.

Stripe has announced its acquisition of Bridge, a startup specializing in stablecoin infrastructure, as revealed in a tweet on Monday, informs Reuters. Although the financial terms were not disclosed by the company, a report from Forbes last week, citing inside sources, valued the deal at $1.1 billion.

Canva, a global visual communication platform, has formed a partnership with EBANX, a global technology company specializing in payment services for emerging markets.

Pipe, a fintech company partnering with software platforms to deliver embedded financial solutions for SMEs, and bank payment company GoCardless today announced a partnership to reshape capital access for UK businesses.  Under the partnership, Pipe's customer-friendly capital offering will be accessible via the GoCardless platform, providing simple and seamless capital access for its UK customer base.* 

Finastra today announced its Loan IQ Simplified Servicing solution at Sibos 2024. The solution takes the rich functionality available in Finastra’s Loan IQ and combines it with a streamlined user interface that’s optimized for servicing high volume bilateral and SME loan portfolios.

YouLend, a global embedded financing platform today announces that it has secured a new financing facility with funds managed by Castlelake, a global alternative investment firm that specializes in asset-based private credit. The new facility broadens YouLend's investor base in the US and increases YouLend's available capital which has the potential to now extend over $1 billion in revenue-based financings to US SMBs over a three year period.

NCR Atleos Corporation, a leader in expanding self-service financial access for financial institutions, retailers, and consumers, today announced that $7.8 billion-asset Tompkins Community Bank has expanded its relationship with Atleos by choosing Atleos’ ATM as a Service (“ATMaaS”) solution to transform self-service banking.

Zenus Bank is excited to announce the successful integration of Tuum’s Accounts and Payments modules into its proprietary technology ecosystem. This significant milestone aligns with Zenus’ mission to create a global Banking-as-a-Service (BaaS) platform, enabling banks, fintechs, super apps, and businesses worldwide to embed U.S. banking services and extend them to their customers.  

Client onboarding is a critical yet challenging process for banks, particularly in the corporate banking sector where it remains a labour-intensive and costly exercise. It is becoming increasingly important to shed light on these challenges, and how evolving technologies and solutions such as Corporate Digital Identity (CDI) can transform and streamline this process. 

Bank of Ireland is urging customers to be on their guard due to a new wave of fraud targeting banks in Europe, the UK, the US, Australia, and New Zealand which is now active in Ireland. The fraudsters are mainly targeting business banking customers at this time, duping them into allowing remote access to their computers and bank accounts. Reports of this type of scam to Bank of Ireland’s fraud line are increasing daily as the fraud gang target Irish customers.