Anil Awasthi, VP, Retail Banking, Virtusa is giving his insights on how Virtusa helps banks to grow their business and the advantages of open banking concept for the industry players

In today’s fast-changing business environment, international organisations all over the world increasingly expect global access to finance in real-time. They also expect finance to be available in a way that works for them in any currency and country, without the process being held up by the historical constraints of national boundaries. And they expect the banks and financial institutions they work with to make this a smooth, seamless process for them.

MuleSoft, provider of the leading platform for building application networks, today announced that HSBC is leveraging MuleSoft’s Anypoint Platform to build a digital banking platform to power the bank of the future.

Last month, we visited Singapore for Global Mass Transit’s (GMT) annual Transit Ticketing & Fare Collection APAC conference. Rapidly becoming the event in the APAC transit industry’s calendar, this year’s show didn’t disappoint.

Many of us are familiar with the tax-free benefits associated with a standard Individual Savings Account (ISA). However, a variant known as a stocks and shares ISA is becoming an increasingly popular alternative. What is the basic principle behind a stocks and shares ISA and what unique advantages do they offer? If you have been curious to learn more about one-of-a-kind investment opportunities, the information below should prove to be quite interesting.

What is a Stocks and Shares ISA?

Financial IT speaks with Darren Hughes, Director Cashoff Europe at Open Banking Expo 2019

Temenos (SIX: TEMN), the banking software company, today announced that ABN AMRO has gone live with Temenos Payments in Hong Kong as part of its global strategy to rapidly rollout state-of-the-art payments capabilities in new markets. Temenos Payments provides a single, global platform that enables ABN AMRO to quickly expand and onboard new countries. The bank also significantly improves straight through processing (STP) rates through advanced exception handling.

Wells Fargo announced that its corporate customers can now send real-time payments through the RTP® network via an application programming interface (API), enabling the immediate movement of money and expanding the bank’s faster payments offerings. Wells Fargo previously rolled out capabilities for both retail and wholesale customers to receive payments over the RTP network at the end of 2018.

Digital finance platform Globitex has partnered with Salt Edge, a leader in offering open banking solutions, to ensure that its EURO Wallet customers benefit from a secure environment for payments.

Yolt, the smart thinking money app, has announced an integration with digital bank, Revolut. Revolut customers will also be able to use the Yolt app to analyse all their transactions, including those made outside of the UK – as well as set budgets, monitor spending and manage their investments all within one central place.