HPS, a leading multinational provider of payment solutions, today announces that it has completed the modernisation of Absa’s African Operations outside of South Africa (“ARO”) acquiring payments infrastructure journey.

The transformation journey started in July 2019 with HPS replacing the existing legacy acquiring switch with PowerCARD for eight countries where Absa operates: Botswana, Kenya, Mauritius, Zambia, Tanzania, Ghana, Uganda and Seychelles.

The Swiss subsidiary of First Abu Dhabi Bank (FAB) has selected Avaloq’s business process as a service (BPaaS) solution for a further long-term contract to support the institution’s strong growth ambitions. The bank, which awarded the contract to Avaloq after a highly competitive tender process, has been working with the company since 2007 and was its first private banking client in Geneva.

The lockdown measures, introduced in response to Covid-19, have had a profound effect on the spending and saving of UK consumers. Yolt, a smart money app with over one million registered users, has analysed anonymised transaction data from a representative sample of its users, to show how lockdown has affected spending in the UK.

Since Yolt allows users to aggregate and view all their accounts in one place, regardless of which banks they use, sampling Yolt’s data gives a clear view of UK consumers. Below are some of the main findings.

Bixin Global, one of China's largest cryptocurrency custody and mining operators, has launched a proprietary Fund of Funds amounting to 6600 BTC, or approximately USD 66 million. This announcement comes alongside the anticipated BTC Halving, as different stakeholders make various preparations for its arrival. The 6600 BTC fund seeks to empower global crypto quant funds by providing additional resources for liquidity providers and market making activities.

datrics.ai is an end-to-end Data Science platform (cloud-based, SaaS) for scientists, analysts, and developers to create machine learning applications within hours.

Neither installation nor coding is required to create, deploy and manage machine learning applications: datrics.ai enables machine learning for non-practitioners and automates MLOps for professionals.

Platform’s core is drag-n-drop "bricks" functionality is used to create pipelines to process data, construct and compare ML models, deploy them in just a few clicks.

Research carried out by 3Gem for Amaiz, the business banking app, has revealed that 50% of small businesses have either become cashless or plan to as a result of Covid-19.  Of the rest, over 18% already only took card and just 21% of small businesses have no plans to go cashless. 

Klarna, the leading global payments and shopping provider, today released new data that tracks how UK consumer purchasing habits have evolved while under lockdown and as the COVID-19 outbreak continues.

The company, which is used by over 7 million shoppers and has over 5,000 retail partners in the UK, analysed all the transactions made through its retail partners to identify what product categories Gen Zers, Millennials, Gen Xers and Baby Boomers are shopping for most often using Klarna’s flexible payment options.  

QuadPay, the payment installment platform, is partnering with Stripe to power advanced buy-now-pay-later experiences that boost conversion and let consumers start shopping instantly both online and in-store. Built on Stripe’s issuing infrastructure, QuadPay enables consumers to start shopping in installments anywhere Visa is accepted and powers buy-now-pay-later experiences that boost sales by more than 20% on average.

FinTech companies and banks work together on a digital future