Tandem Bank is celebrating the one year anniversary of its intelligent Autosavings feature, which gradually and effortlessly builds an individual's savings account for them. More than half of Tandem Accounts are actively set up to use the feature, suggesting the tool has been an incredible success. Tandem’s goal was to help incentivise individuals to prioritize their savings whenever possible, and given the deteriorating state of global affairs due to Covid-19, we now collectively understand the importance of creating a financial safety net. 

An interview with Max Laemmle, Founder & CEO of Fraugster about how he founded the company, AI and the impact of COVID-19 on the financial services industry.

Financial IT: Can you please tell us more about your background? What’s the story behind the founding Fraugster?

CoinDCX, India’s largest and safest cryptocurrency exchange and liquidity aggregator, announced that crypto payments pioneer Crypto.com will be listing its cryptocurrency CRO token on the CoinDCX exchange. It will be traded in two pairs CRO/BTC and CRO/INR. It means, Indian traders trading on the exchange can buy or sell CRO token in exchange of BTC (Bitcoin) or Indian Rupee. Following the successful listing of the MCO token on CoinDCX earlier this month, the CRO listing marks Hong Kong-based Crypto.com’s official entrance into the Indian market.

Banco Santander announced today the completion of its purchase of a c.50.1% stake in Ebury, one of the best international payment, FX and international cash management platforms for SMEs, after obtaining all regulatory approvals from the required authorities. This transaction was announced in November 2019 and is part of the bank's digital strategy, providing SMEs with the necessary tools for their international expansion through global trade finance services.

PPS, formerly PrePay Solutions, and subsidiary of Edenred, the everyday companion for people at work, has joined forces with newly launched Community Interest Company (CIC) The Inclusion Foundation (TIF), in a bid to help tackle financial exclusion in the UK.

New online research published today by LINK, the UK’s main cash machine network, shows more consumers are turning to contactless and digital payments during the Coronavirus crisis, with almost three quarters (72%) suggesting the Coronavirus will affect their future use of cash.

In a welcome move, and against worldwide news of salary cuts and retrenchments, TerraPay today announced the recruitment of six senior level positions across North America, East-Africa, Middle-East and Asia, showing how the company is very well placed to combat the challenges posed during the current world crisis caused by the Covid-19 pandemic.

Leading RegTech companies, Kompli-Global and ComplyAdvantage have entered into a strategic partnership to take the fight to fraudsters and money launderers.

Kompli-Global has just launched the most comprehensive remote corporate onboarding platform called Kompli-QED™ that offers the powerful combination of its own unique proprietary solutions alongside services from best in class third party providers.

Digital banking in the Asia Pacific (APAC) is set to be widely adopted with over three in five customers (63%) willing to make the switch to neobanks and challenger banks in the next five years, according to the Fintech and Digital Banking 2025 report by Backbase and IDC. The report also found that the region is expected to see 100 new financial institutions by 2025, ushered in by liberalization of several markets and issuance of new banking licenses.

Ebury is the first non-bank financial institution to be granted approval to provide SMEs with loans under the Italian government’s guarantee scheme “Garanzia Italia”*. The scheme, which is available to Italian businesses with less than 5,000 employees and €1.5 billion turnover, provides government guarantees to cover up to 90% of the loan value.