Qatar Financial Centre Authority (QFCA), the legal and tax arm of the Qatar Financial Centre (QFC), a leading onshore financial and business centre in the region, has entered into a Memorandum of Understanding (MoU) with Dukhan Bank (DKB), one of the largest Shari’ah compliant banking institutions in the country, to pursue certain areas of collaboration that benefit both parties.

Cross-border payments often lead to delayed settlements. As a result, this creates a fragmented view of liquidity positions for companies. The aim is to increase transparency and security with blockchain-based payments via UBS Digital Cash which should in turn facilitate timely payment processing. In addition, companies should be able to manage intraday-liquidity and adjust liquidity buffers on their accounts more easily in the future, thanks to greater visibility of their total cash positions.

The Payments Group (TPG), a new global payments company, has announced a deal with online dating giant, HubPeople. HubPeople is an AI-based software platform that powers many of the world's top dating applications and websites, which have a combined 100m users worldwide. For the first time, anyone using a HubPeople-powered dating brand will now be able to pay for their dating subscriptions in cash with TPG's award winning CashtoCode service.

iwoca, one of Europe’s largest SME lenders, announces a new £200m package of debt funding from Citi and Waterfall Asset Management and doubles its SME loan offer ceiling to £1 million. The funding follows a series of investment rounds in the past two years, attracting £740m debt funding from partners including Citi, Barclays, Värde Partners, Pollen Street Capital, and Insight Investment. This takes investment in the business to almost £1.5bn since launching in 2012. 

Revolut Business, the global fintech trusted by hundreds of thousands of businesses, has published a study, conducted in partnership with Dynata, showing that international businesses are turning away from ‘legacy banks’ to manage their financial needs, echoing the sweeping changes seen in consumer banking. The findings come as the company launches Revolut Business 5, the fifth generation of its financial management platform for businesses.

Thunes, the Smart Superhighway to move money around the world, today welcomed 

Travelex, a market leading foreign exchange brand, has launched a major refresh of its international ATM estate, replacing the hardware and software of its entire portfolio of 600 ATMs across eight countries. The new portfolio unlocks a wide range of innovative new features for Travelex customers, including contactless cash withdrawals.

Yuno, the world’s leading payment orchestrator, announced the launch of Smart Routing, a revolutionary payment solution that uses Yuno’s proprietary data and intelligent algorithms to automatically route payments through the most efficient pathways. The announcement was made at Web Summit, an event focused on the latest in global technology innovation.

Satispay – the innovative payment network that reached unicorn status in September 2022 following a funding round led by Addition – has completed a new capital increase of €60 million, bringing total funds raised to over half a billion euros.

Customer
Headquartered in Louisville, Kentucky, Republic Bank is one of the most innovative and forward-looking banks in the US, with 42 full-service banking centers across five states and assets of $6.2 billion.

Challenge
The third party monitoring tool in use was showing its age. The interface was difficult to use and navigate, particularly when there was an issue that had to be resolved and insights were needed fast.