Path Solutions, a leading global Islamic core banking software, consulting and services organization, announced today that Trustbank Suriname, now Trustbank Amanah, has gone live on iMAL Islamic core banking platform with the successful transition of the bank from conventional to Islamic banking business model, a major milestone in the South American banking system as large banks in South America are tipped to tap into growing Sharia-compliant demand.

Arro Money, a fast-growing provider of personal and business accounts, has partnered with the global identity verification provider, Onfido, to offer real-time ID verification and “Know Your Customer” (KYC) checks.

Working with Onfido, Arro Money provides easy and secure access to financial services to those that have struggled to open traditional bank accounts previously. This alliance means that new customers will have full access to an Arro account in just three minutes, thanks to innovative high-speed yet accurate Customer Due Diligence (CDD) checks.

The Avaloq group, the international fintech company and leader in the development and operation of core and digital banking software, has been recognised by NelsonHall as a Leader in its 2018 Wealth and Asset Management NEAT (NelsonHall Evaluation Assessment Tool).*

NelsonHall, the leading global IT and business services analyst firm, has recognised Avaloq as a leading vendor in its Wealth and Asset Management NEAT to support customers’ operations with a range of advanced technical and delivery services.

In 2016, according to a report just published by the European Central Bank (ECB), EU citizens made €123 billion worth of what the ECB calls ‘peer-to-peer’ cash payments. That’s just another way of describing the money grandparents tuck inside birthday cards, donations to charity, payments to street vendors and the hundreds of other small cash transactions people make all the time.

Alipay, the world’s largest online and mobile payment platform operated by Ant Financial Services Group (“Ant Financial”, “Ant”), today announced an agreement to make Alipay available in Apple retail stores across mainland China, making it the first third-party mobile payment method to be accepted at the U.S. company’s brick-and-mortar stores anywhere in the world.

The agreement covers all 41 of Apple’s physical stores in mainland China, the company’s largest retail market outside the U.S.

Data Governance Policies Need To Be Updated

MiFID II is a new exhaustive financial regulation being implemented in Europe as of January 3rd. However, the sweeping legislation won’t only impact European banks.

Even U.S. financial institutions are grappling with the changes as they race to implement the necessary changes globally. Also, current U.S. regulations conflict with some of the new guidelines in Europe making adherence by U.S. institutions complicated and costly.    

Provenir has expanded its risk analytics and decisioning platform to support the increasingly popular programming language Python. 

eGain (NASDAQ:EGAN), the leading provider of cloud-based customer engagement solutions, today announced that chatbot silos are the biggest hurdle for consumers in using virtual assistants. The finding is from an independent survey of 3,000 consumers, conducted by Chatbots.org.

The Roads and Transport Authority (RTA) of Dubai and HERE Technologies today announced that they have signed a memorandum of understanding on a long-term technology collaboration with the aim of mapping the city with high definition technology for the first time. HD maps are a prerequisite to moving Dubai closer to its goal of having 25% of public transport self-driving services by 2030.