The UK has one of the most innovative and fast-moving fintech sectors in Europe. Last year, investment in the British fintech sector hit $4.9 billion, up 36% from 2018. The UK has at least thirty online media titles dedicated to fintech, not to mention podcasts and YouTube channels.

Bank of China has launched DeepFX, an artificial intelligence-based foreign exchange trading signal prediction application through Eikon, the first released third-party Eikon app from a China based financial institution.

Global digital wealth management solutions provider, InvestCloud, has announced Taryn Balthazar as EVP, Head of Distribution Asia Pacific and Australia as the firm looks to scale up its presence and delivery capabilities in APAC.

The financial services industry has seen ISO 20022 grow firmly over the last 15 years. What was then a small pocket of countries tackling migration has now become widespread adoption for domestic and international payments.

And with momentum building, it is clear that IS0 20022 is playing a foundational role for banks in the transformation of their infrastructures, with the rich messaging format delivering business benefits and enabling enhanced customer propositions.

The time is now for ISO 20022

TransferGo, one of the world’s fastest growing money transfer companies, has announced the hire of Francesco Fulcoli as its new chief compliance officer.

Based in London, Francesco will primarily be responsible for leading the delivery of cutting-edge experience on KYC, as well as AML and Counter-Terrorism Financing (CFT) prevention processes, while promoting a strong compliance culture internally and good relationships with customers, regulators and partners.

OpenPayd, an API-led Banking-as-Service provider, has appointed Matthias Kröner as a Senior Advisor. The appointment follows a period of significant growth for the company in the past year providing enterprise businesses access to cross-border banking and payment solutions.

What is the likely impact of the virus on the business-to-business (B2B) payments?

If cashflow is the lifeblood of any business, then the B2B payments system represents the arteries and the veins. For a body to be healthy, blood must flow efficiently to and from the heart. For a business to be healthy, cash payments must also move efficiently in both directions.

Avaloq and Personetics are entering into a strategic partnership to connect Avaloq’s global banking clients with Personetic’s AI-powered personalized engagement solutions.

Personetics, the leading global provider of data-driven and personalized engagement solutions powered by artificial intelligence (AI) for bank customers, is joining the Avaloq.one Ecosystem, Avaloq’s open banking marketplace bringing together financial institutions and innovative fintechs using the latest REST API and sandbox technology on www.avaloq.one.

Wirecard, the global innovation leader for digital financial technology, and Banca Afirme, a Mexican financial institution with a nationwide presence, are collaborating to equip television station Canal 22 with employee payout products for e-commerce payments, Point-of-Sales (POS) spend, and ATM cash withdrawals.

TSB announced it will ensure that all of its smallest suppliers will be paid within just 10 days of invoicing the bank. The move will apply to all companies that supply goods and services to the bank, even if the contract allows it to pay over a longer period.