Commerzbank is the first German bank to have completed a blockchain-based Letter of Credit (LC) transaction for its client, Ascentex Exim LLP, a Singapore-based textile trader, on Contour, a digital trade finance platform. The LC was issued for a shipment of rubber threads from Thailand to Krungthai Bank. Contour’s decentralised platform resulted in significant time and cost savings within this process.

Simpl, India's foremost Checkout Network, today announced the introduction of its innovative Checkout offering, Simpl Pay After Delivery (SPAD) to enhance trust and convenience for millions of customers across the country. With this capability, consumers can choose Simpl Pay After Delivery at the time of checkout which triggers payment only upon successful delivery of the shipment.

E-commerce has experienced unprecedented growth in recent years, revolutionising the way we shop and do business. 

The NEAR Foundation today announced a new partnership with Blumer, a social platform that combines the functionality of popular social networks with blockchain. The partnership is expected to bring about a new era of social media, where users are rewarded for their active participation.

A new report from FX and payments provider, Neo, has found that SMEs still rely heavily on traditional banks and struggle with the cost and speed of cross-border payments as a result. The report entitled ‘Growing pains: the escalating cross-border payment challenges for SMEs’, highlights that traditional banking partners are failing to meet SMEs’ cross-border payments needs. 

Consumer Duty is a set of rules and guidance authored by the Financial Conduct Authority (FCA) for existing and new products and services in the financial services sector. The new rules are due to come into force on 31 July 2023. The main objective of the Duty, in the agency’s own words, is to “set higher and clearer standards of consumer protection across financial services and require firms to put their customers’ needs first”.

10x Banking (10x), the global, cloud-native core banking platform, today announced its plans to accelerate the company’s growth in APAC fuelled by a landmark study revealing that a third of banks in key markets across the globe are losing large numbers of their customer base to rivals due to slow transformation.

Provenir, a global leader in data and AI-powered risk decisioning software, today announced the appointment of Richard Kern as Senior Vice President of Global Professional Services.

As the head of Provenir's global professional services team, Kern is responsible for overseeing client delivery services, including implementation and design, strategic consulting, and training services for all Provenir customers in 50 countries worldwide.

Exchange-traded funds (ETF) investment platform, InvestEngine, and leading open banking payments network, T

Form3, the cloud-native account-to-account platform, today announced that is among the first in the industry to complete testing and certification for the FedNowSM Service, the Federal Reserve’s new instant payment offering that launched on July 20, 2023.