The financial services industry (FSI) stands at a crossroads of tradition and innovation, grappling with the unenviable task of navigating a rapidly evolving digital landscape while simultaneously maintaining and introducing new services for users.

BVNK, the B2B payments provider and Cebr, the Centre for Economics and Business Research, have published a new analysis on the economic impact of stablecoins, on the 10th anniversary of the first stablecoin launching. As the stablecoin market cap reaches $160bn, the new report demonstrates for the first time the quantitative link between increasing stablecoin use and economic impact. 

Economic impact of stablecoins revealed

adesso, a leading global IT services provider, is rolling out a new generative AI tool to help financial services firms review contracts in adherence with the European Union's Digital Operational Resilience Act (DORA) directive.

Cohesity, the leader in AI-based data security and management, today announced the new version 7.2 of its flagship platform Cohesity Data Cloud.

Digitt, a pioneering fintech offering credit card debt refinancing for prime borrowers in Mexico, today announced the launch of a $50M debt facility with CoVenture Management, LLC, a leading private credit and alternative asset manager based in New York, New York.

The Facility will help expand Digitt's existing debt refinancing product, expand its product offering and deepen the company's relationship with its growing customer base.

PayPal Holdings, Inc today announced that Enrique Lores has been appointed the new Independent Chair of its Board of Directors. He succeeds John Donahoe, who is retiring from the PayPal Board after serving as Board Chair since 2015. Lores, President and CEO of HP Inc., has served on the Board since June 2021. 

Today, the Current Account Switch Service publishes its Q2 2024 Dashboard reporting the latest switching figures and trends.

Between April and June 2024, the Current Account Switch Service facilitated 313,293 switches, taking the total number of switches since the Service launched in September 2013 to 10.9 million. More than a decade since launch, the Service has successfully redirected 152.7 million payments.

Thredd, a leading global payments processor, has signed a U.S. processing agreement with Spendbase, a prominent software subscription management platform backed by Google. This collaboration marks Thredd’s second U.S. client and signals Spendbase’s market expansion into North America.

Temenos, the banking software company, today announced two key executive appointments to accelerate business growth and capture the market opportunity in SaaS and in the US. Isabelle Guis has joined as Chief Marketing Officer and member of the Executive Committee reporting to the CEO Jean-Pierre Brulard. In addition, Monty Bhatia is appointed Executive Vice President (EVP) of Global Alliances and Partner Ecosystem reporting to the Chief Revenue Officer, William Moroney.