Consumer education, awareness & incentive remain vital to success

Two years on from the CMA market review which initiated Open Banking, Jake Ranson, banking and financial institution expert and CMO at Equifax Ltd, anticipates profound long term impact:

Latest figures from RiskFirst reveal that approximately 30% of US pension plans may now have a funded status of 95% or more, making a buyout or significant risk-transfer deal a feasible option.  

Virtusa xLabs, the global consultancy’s digital innovation hub, has identified the top 10 tech trends likely to impact business within the next five years. The xLabs team analysed 40 reports from leading analysts, futurologists, consultants, and industry influencers – including the likes of Gartner, Fast Co, and Forrester – and correlated the data to identify the top themes and innovations that will impact digital transformation within enterprise.

Mistertango, the first crypto-friendly fintech company, today announced a partnership with one of the biggest European crypto-exchanges, EXMO, with average daily trading volumes of around $50, allowing users to trade, exchange and store their assets with ease. This partnership enables traders on the EXMO platform to make instant deposits and withdrawals in Euros for the first time.

Flow, a leader in next generation cross border commerce, today announced the expansion of its international payment options to support cryptocurrency payment processing through BitPay, the pioneer and most experienced company in bitcoin and blockchain payments.

Ant Financial Services Group (“Ant Financial” or “the Company”) today announced that 14 newly approved target-date retirement funds will be made available on the Company’s wealth management platform, Ant Fortune. 

Abacus Group, a leading provider of hosted IT solutions and application hosting for alternative investment firms, today announced two key senior management appointments. Viktor Tadijanovic, formerly Chief Technology Officer, has been appointed to a new role as Abacus’s first ever Chief Strategy Officer; and Paul Ponzeka, formerly Managing Director of Engineering, has been appointed as the company’s next Chief Technology Officer. 

Capital One Financial Corporation (NYSE: COF) and

AU10TIX 2^nd generation ID authentication and onboarding platform that already supports Cyrillic, Chinese, Japanese now also officially supports the Korean language content in ID documents. AU10TIX continues its expansion in APAC (and LATAM) offering service providers in and from these markets forensic-level ID authentication and deeper support to local ID documents and languages as well as biometric face-matching and KYC verification and screening services.

The way we interact and engage with our banks has transformed in recent years as a result of advances in technology. In the retail space, the increasing trend of customers banking online coupled with the rise of digital disruptors such as Monzo and Atom Bank have reshaped expectations of what effective banking means to consumers. In the corporate space however, banks have typically been slower to innovate and keep pace with increasing expectations as their corporate customers seek a similar service level in corporate banking to their own personal banking service.