Ahead of the two-year anniversary of its implementation on 13 January 2020, Robert McKechnie, Open Banking Expert at Equifax UK, believes broadening Open Banking platforms will be a turning point in its drive to mass adoption in the year ahead:

Robokassa, a payment service and part of the Paysend Group, has been recognised for its outstanding achievement in information technology and electronic communication.

The business, a universal tool for accepting and processing online payments, has won the Runet Award for ‘Economy and Business’.

A portmanteau of the words ‘Russia’ and ‘internet’, Runet is the country’s most prestigious technology award. It celebrates companies, organisations and individuals that have contributed to the development of Russia’s digital sphere.

As insurance carriers look to technology to meet customer demands at scale, how carriers react to competition and rising customer expectations today will define their success tomorrow. From providing bespoke products, instant customer service and real-time risk monitoring, the likes of AI, machine learning and other innovative technologies are proving the only means through which insurance carriers can meet the high demands of consumers today.

Nisir Microfinance Institution (Nisir MFI), an innovative and growing microfinance institution in Ethiopia, has selected 

Commerzbank AG will acquire an equity stake in comdirect bank Aktiengesellschaft ("comdirect") from institutional investor Petrus Advisers Ltd. through its subsidiary Commerzbank Inlandsbanken Holding GmbH. The purchase price has not been disclosed.

Emirates NBD, a leading banking group in the region, has completed the third phase of its international core banking system upgrade, as it forges ahead with its ongoing digital transformation efforts to boost innovation and efficiency across its domestic and international operations.

Standard Chartered announced the appointment of Rene W. Keller as Chief Information Officer (CIO), Corporate, Commercial & Institutional Banking (CCIB). Based in Singapore, he reports to Dr Michael Gorriz, Group Chief Information Officer, and is responsible for the business’ technology strategy, architecture and delivery value chain that will drive strategic business outcomes.

The global securities finance industry generated $8.66 billion in revenue for lenders in 2019, according to market data provider DataLend.

While 2018 was a record amongst recent years for securities lending revenue, 2019 global revenue was down 13% in comparison. Securities lending revenue is calculated as the amount paid by borrowers, typically broker-dealers on behalf of their hedge fund clients, to temporarily borrow equity and fixed income securities from long-holders of these assets, known as beneficial owners. 

Tata Consultancy Services (TCS), a leading global IT services, consulting and business solutions organization, has announced that Manchester-based Voyager Alliance Credit Union and its associate entity, Retail Credit Union, have successfully moved to the TCS BaNCS™ Cloud for Banking to digitally transform their core banking operations and enable faster payments.