It has been said that prediction is very difficult, especially if it’s about the future. The unprecedented events of 2020 demonstrated quite how difficult it can be. The monumental uplifts in digital volumes, shifts in customer requirements and broader economic impact would have been (and frankly still are) barely conceivable.

ING is announcing today that it intends to withdraw from the retail banking market in the Czech Republic. Raiffeisenbank Czech Republic has agreed to prepare a welcome offer for ING’s retail customers in the Czech Republic.

Cobalt, a multi-award-winning provider of FX and Digital Asset risk and settlement infrastructure, has partnered with Spotex, the developer of FX technology solutions, to provide clients with dynamic credit management tools. Through the partnership Cobalt’s Risk Hub will be available for clients of Spotex’s FX electronic communication network (ECN).   

Tinkoff launches Tinkoff Checkout, an online and offline payment service for legal entities. 

Tinkoff Checkout will operate as a one-stop shop, enabling companies to take care of all of their online and offline financial needs in one place.

•  New open source data standard for bond issuance systems launched by Origin with the support of Clearstream and the Luxembourg Stock Exchange
• The initiative provides a universal data language for post-trade market participants, with the aim of enabling straight through processing across the ecosystem by standardising data exchange, making communication more effective and the entire process more efficient, accurate and integrated

This will enable the Accel backed FinTech to launch an array of financial services, including payments from the UK to East Africa. Over 70% of payments to Africa are still sent in cash using over the counter services. Many of these services have been suspended or limited due to coronavirus restrictions, leaving people with pricey, unreliable or hard to access alternatives.

Rewards programmes are not delivering on their promise to drive customer loyalty for retailers, according to the latest research from Adyen, the payments platform of choice for many of the world's leading companies. The majority of customers (55%) say that rewards programmes do not offer things they actually want and that customer experience holds almost equal influence when it comes to loyalty (48%). 

Moody’s Analytics today announced that HSBC will be extending its contract and expanding its use of the Moody’s Analytics PFaroe™ DB software, a risk analytics and reporting solution for the defined benefit (DB) pensions market.

Insurance is the industry of risk. But the depth and breadth of COVID-19 - its impact on society and the economy - was not in insurers’ near-term planning models this year. Insurers and their customers enter 2021 in a world transformed. Physical and mental barriers have deteriorated. Walls separating businesses from customers have collapsed, with the discovery that digital can strengthen customer relationships.

As a member of the OpenWealth Association, SIX is launching three new interfaces for Swiss wealth management on the b.Link open banking platform. The association created by industry representatives agreed the common API standards last December. The wealth management interfaces will go live on b.Link this year. Banks will be able to connect with external asset managers via portfolio management system providers. For many banks, the new wealth management applications are likely to highlight the benefits of moving to open banking.