Limited window for banks to leverage higher trust advantage and compete with Fintechs

Millions of consumers globally are now choosing Buy Now Pay Later (BNPL) services as a more responsible way to manage the cost of their online and in-store purchases according to their own cash flow, compared to alternatives like credit cards.

“A big morning for the Egyptian Pound today; the Central Bank of Egypt has unexpectedly raised interest rates by 100 basis points in a surprise meeting held this morning. The move comes as the world’s top wheat importer reels from the spike in commodity prices induced by the Russian invasion of Ukraine. The Central Bank also stressed a need for flexibility in the currency to ‘act as a shock absorber to preserve Egypt’s competitiveness. The comments have led to a sharp devaluation of the Egyptian pound, currently trading 10% lower than Thursday's close at 17.42”

European branded payments company Recharge.com today announced the launch of its services in Australia. The fast-growing fintech firm, which specialises in digital gift and prepaid cards for brands including Netflix, Spotify and Xbox, is rolling out its services amidst regulatory changes in the buy-now-pay-later (BNPL) and the gift card sectors.

All purchases of .freedom domains will contribute to a better world, beginning with support for the Ukrainian war victims.

NexBloc today announced the creation of the .freedom blockchain top-level domain (bTLD) for use in Web 3.0. Anyone worldwide can purchase .freedom domains such as yourname.freedom with net proceeds going toward global humanitarian aid. Immediate use of funds will focus on bringing relief for Ukrainian war victims.

PPS, an Edenred company, and the UK and Europe’s market leading payments provider, today announces the appointment of Andrea Keller as Managing Director. 

Andrea Keller is an experienced payment professional, having worked in the industry for more than 20 years at PPS’s parent company, Edenred. He joins PPS from the position of Managing Director for Edenred Pay in Latin America, focusing on payments and fintech solutions.  

TrustQuay, the global leader in technology for corporate services, trust, and alternative fund administration markets, has today announced an agreement with ZEDRA to adopt TrustQuay Portal, which enables corporate services and trust administrators to deliver their clients a unified view across all of their structures and provides access to this information anywhere, anytime and on any device. 

Partnership will see the development of a model digital bank, licensed to Union of Arab Banks members to help them transition into digital banking

·       ClearBank is the #1 ranked fastest-growing UK fintech according to Deloitte 

·       Investment will accelerate ClearBank’s international growth and expand its range of product and services   

·       ClearBank’s embedded banking platform is the UK’s largest, with more than 200 financial institutions and fintech customers, 13m bank accounts, and £3bn held in balances