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Geoswift Joins Forces with UnionPay International and Western Union Business Solutions to Offer Tuition Payment Promotion

Geoswift, Western Union Business Solutions, a subsidiary of The Western Union Company, and UnionPay International today announced a promotion where UnionPay will pay for medical insurance coverage for eligible students that process tuition payments through their payment network.

Wednesday, August 12, 2015 - 14:26
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Bromium Black Hat Survey: Endpoint Risk Five Times Greater Than Network or Cloud

 Bromium®, Inc., the pioneer of threat isolation to prevent data breaches, today announced the publication of “Black Hat 2015: State of Security,” a survey of more than 100 information security professionals conducted at the Black Hat Conference 2015.

Wednesday, August 12, 2015 - 14:16
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FIS To Agree $9.1 billion SunGard Deal

FIS has signed a definitive agreement to acquire Sungard for $9.1 billion in a cash and stock deal, creating a fintech powerhouse covering the full spectrum of banking and capital markets services.

Private equity-owned SunGard filed for an IPO in June, having appointed financial advisors to explore its options in April following an approach from an unidentified third party.

At the time, SunGard's owners had hung a $10 billion price tag on the company, but reports last month suggested the tech conglomerate had entered exclusive talks with Fidelity over a prospective deal. 

Wednesday, August 12, 2015 - 13:56
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Axiom Announced the Appointment of Mathew Keshav Lewis As the Co-Head of its Global Banking Practice

Axiom, a leading provider of technology-enabled legal services, today announced that Mathew Keshav Lewis has joined the firm as the Co-Head of its Global Banking Practice.

Wednesday, August 12, 2015 - 11:55
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Bank of Mauritius’ ADF-XBRL Initiative: Moving Forward at an Impressive Pace.

Bank of Mauritius’ ambitious ADF-XBRL project has started progressing at a rapid clip with Phase 3 returns being made available to banks. Of the 6 phases in BOM’s ADF-XBRL journey, only 4 are targeted at banks, while the remaining 2 would cover reporting by other entities, such as NBFCs. So in a sense, the regulator seems to have covered more than three fourths of the ground in terms of detailing what banks need to report on.

Wednesday, August 12, 2015 - 11:39
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"Here I Go Again:" Foreign Exchange and Economic Development
Mao said it best; "When you point your finger at the moon, the fool sees your finger, the wise man sees the moon."
 
China recently devalued the yuan, its externally traded currency with the U.S. Dollar, the USD. The yuan is a managed currency. It is allowed to vary within a band of + or - 2% against the USD. The People's Bank of China, the PBOC has in fact allowed the yuan to evaluate (increase in value) more than 2% when it is strong against the dollar but does not allow the yuan to devalue more than 2% against the same currency.
Wednesday, August 12, 2015 - 11:24
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Financial IT
Intelliflo unites with leading FinTech companies to support UK open API standard

Intelliflo has welcomed the UK government’s commitment to deliver an open Application Program Interface (API) standard that will enable consumers to access apps that bring together financial data across a range of products and from different product providers.

The government published its commitment in the July 2015 budget:

Wednesday, August 12, 2015 - 11:13
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Does anyone really think banks aren't aware of the Fintech challenge?

I find it interesting that so many bloggers on Fintech deride the banks for being slow, clueless or stupid.  So many blogs talk about how banks don’t do this, don’t do that; fail at this, fail at that; have no idea, cannot change; are stuck in the past or have their heads up their arse. 

Wednesday, August 12, 2015 - 11:06
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SEB Implements Axioma Risk As Its Global Enterprise-Wide Risk Management Platform

 Axioma announced today that Skandinaviska Enskilda Banken AB (SEB), one of the largest financial institutions in northern Europe with more than €180 billion in assets under management, has completed the implementation of Axioma Risk, the innovative multi-asset class risk-management platform launched by Axioma in 2013.

Wednesday, August 12, 2015 - 10:50
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Asset managers choose Markit to support fund launches

Markit (Nasdaq: MRKT), a leading global diversified provider of financial information services, today announced the launch of its Request for Amendment (RFA) service, available through Counterparty Manager and kyc.com.  Working with three of the largest asset management firms including AB (formerly AllianceBernstein), RFA centralises and automates legal onboarding when adding accounts to existing master trading and custody account agreements.

Wednesday, August 12, 2015 - 10:42
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