The UK’s Payments Systems Regulator (PSR) yesterday announced plans to carry out two market reviews focusing on card fees - one on scheme and processing fees, and the other on cross-border interchange fees.

Small business credit platform Tillful, backed by ING Ventures, Experian Ventures, Bitrock Capital, and Katalyst Ventures, announced today that it's partnering with Experian^® to help establish credit profiles for businesses that are new to credit or otherwise credit invisible and thereby potentially expand the range of credit options that can be made available to them. 

The UK has officially reached the milestone of 6 million open banking users, with the Open Banking Implementation Entity (OBIE) revealing that open banking payments are growing 500% year on year. At Tink, we expect this significant growth to continue to pick up the pace during 2022 and predict we’ll see 10 million official users by the end of the year. 

Andrew Elmore has been appointed as Chief Technology Officer at AutoRek. Elmore comes with significant experience as CTO of PagoFX and in C24 Technologies during its sale to Gresham in 2016. He has extensive financial services knowledge gained from previous roles including Head of Technical Architecture at PagoNxt, VP Engineering at Velo Payments and heading up development at SmartStream.
 

Impel and the XDC Network (XinFin) today announced the official launch of Impel, an alternative solutions platform for quickly and securely sending ISO 20022-compliant financial messages. It includes the option to add $XDC as collateral for instant settlement and a bridge to the R3 Corda platform for future-facing banks and fintechs.

Bybit, one of the world’s fastest-growing cryptocurrency exchanges, has announced the launch of its grid trading bot.

Bybit’s new grid trading functionalities will be available to all registered users on June 20. Bybit users will be able to utilize the grid trading bot to automate their buy and sell orders and adjust their investment amount.

ION, a global leader in trading, analytics, treasury, and risk management solutions for capital markets, commodities, and treasury management announces the launch of a new product for both buy and sell-side fixed income traders. ION’s new FI EMS will ease challenges around selecting counterparties and sourcing liquidity by digitalizing the entire dealer-to-customer (D2C) trading process.

Finastra today announced a strategic partnership with ITC Infotech to deliver Finastra’s Fusion Kondor cloud-based Treasury as a Service solution to its growing customer base in Europe. Customers will benefit from increased automation of treasury services, an evergreen system that keeps pace with regulatory change, and rapid time to go live for new features and functionalities.

Robocash Group revealed that the lending from traditional banks is being replaced by the non-bank options with the fastest-growing rates in the Philippines and Singapore. The total opposites are Malaysia and India, where the banking sector is currently experiencing more rapid growth.

Metaverse 4 Finance Accelerator has started. Representing the first Italian acceleration program - fostered by the Sella group and implemented by dpixel, its Venture Incubator, in partnership with OGR Torino – it aims to identify and support the growth of national and international startups for the development of innovative, economically sustainable, inclusive and safe solutions and technologies within the financial applied Metaverse.