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Corporate Digital Identity Faces Big Challenges to Roll Out but Offers Huge Rewards if Done Successfully

Nations around the world have widely differing levels of maturity when it comes to corporate digital identity. But according to Umazi, a next-generation compliance and digital identity platform leveraging AI and Web3 to automate due diligence and risk assessments, while here in the UK business and government face a number of challenges to its roll-out, the rewards could not be greater.

Thursday, March 6, 2025 - 15:18
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/news/digital-identity/corporate-digital-identity-faces-big-challenges-roll-out-offers-huge-rewards
Financial IT
Six in 10 UK Small Businesses Say Late Payments Prevent Them From Reaching Their Full Potential

A new report from bank payment company GoCardless, commissioned through the Federation of Small Businesses (FSB), has revealed late payments are not only a perennial concern for small and medium businesses (SMBs) -- they’re a growing one too.

Thursday, March 6, 2025 - 15:14
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/news/cash-management/six-10-uk-small-businesses-say-late-payments-prevent-them-reaching-their-full
Financial IT
OakNorth Pre-Tax Profits Surge to £215M ($272M) as It Surpasses £12.5Bn ($15.7Bn) in Lending and Continues US Expansion

OakNorth - the leading digital bank for entrepreneurs, by entrepreneurs - today publishes its latest Annual Report, revealing pre-tax profits of £214.8m ($271.6m) in 2024 (FY23 £187.3m / $236.8m). OakNorth provided over £2.1bn ($2.6bn) of gross new lending in 2024, continuing its track-record of supporting ambitious and innovative businesses across the UK and the US.

Thursday, March 6, 2025 - 15:11
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/news/lending/oaknorth-pre-tax-profits-surge-ps215m-272m-it-surpasses-ps125bn-157bn-lending-and
Financial IT
CFIT Publishes Digital Company ID Plan to Slash Fraud, Saving UK Businesses Billions Annually

The Centre for Finance, Innovation and Technology (CFIT) today publishesits blueprint  for fighting economic crime through the introduction of Digital Company ID, which has the potential to  revolutionise business in the UK by improving efficiency, security and trust, while saving billions of pounds every  year in lost revenue and alleviating the burden of fraud on businesses. 

Thursday, March 6, 2025 - 14:31
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/news/security/cfit-publishes-digital-company-id-plan-slash-fraud-saving-uk-businesses-billions
Financial IT
Tuum Becomes a Mastercard Digital Activity Service Provider (DASP), Powering Secure Digital Payments for Banks and Fintechs

Tuum, a leading next-generation core banking provider, is proud to announce its new status as a Mastercard Digital Activity Service Provider (DASP), enabling seamless integration with Mastercard Digital Enablement Service (MDES). This partnership empowers banks and fintechs to deliver secure, tokenized digital payments across all major wallets and digital channels—without the need for additional third-party integrations.

Thursday, March 6, 2025 - 11:50
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/news/payments/tuum-becomes-mastercard-digital-activity-service-provider-dasp-powering-secure-digital
Financial IT
Nexi Group Enables Swiss Merchants to Accept Consumer Payments via WeChat Pay

Nexi Group, the European PayTech, has collaborated with WeChat Pay to enable Swiss merchants to accept payments at the point of sale (POS) via the WeChat Pay app. The 900 million+ active users of WeChat Pay can now make mobile payments via QR code on compatible POS terminals in Switzerland, accessing a familiar and convenient payment method while travelling in the country.

Thursday, March 6, 2025 - 10:08
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/news/payments/nexi-group-enables-swiss-merchants-accept-consumer-payments-wechat-pay
Financial IT
TerraPay Partners With Banque du Caire to Enable Seamless Remittance Payouts Across Egypt
In a strategic move to enhance remittance services in Egypt, TerraPay, a global leader in cross-border payment solutions, has partnered with Banque du Caire (BDC), one of Egypt’s premier financial institutions. This collaboration enables digital payouts to all bank accounts and mobile wallets across Egypt, offering faster, cost-effective, and secure remittance services for the Egyptian diaspora worldwide, as remittances from Egyptian expatriates are a major source of foreign currency – estimated at around $30 billion annually.
 
Thursday, March 6, 2025 - 10:04
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/news/payments/terrapay-partners-banque-du-caire-enable-seamless-remittance-payouts-across-egypt
Financial IT
Emirates NBD Enters the Digital Asset Space, Offering Crypto on the Liv X App

Liv, UAE’s first and largest digital bank launched by Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye (MENAT) region, has consolidated its position as a pioneer of innovation and excellence with the launch of a cryptocurrency offering within its mobile banking app – Liv X. The new offering has been introduced in partnership with Aquanow, a global virtual asset service provider licensed by VARA.

Thursday, March 6, 2025 - 09:47
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/news/cryptocurrencies/emirates-nbd-enters-digital-asset-space-offering-crypto-liv-x-app
Financial IT
Hex Trust Receives Major Payment Institution License From the Monetary Authority of Singapore

Hex Technologies Pte Ltd, a leading digital assets financial institution specializing in custody and trading services, announced that it has received a Major Payment Institution (MPI) License from the Monetary Authority of Singapore (MAS). Issued on March 1, 2025, the license authorizes Hex Trust to provide regulated cross-border money transfer services and Digital Payment Token (DPT) services.

Thursday, March 6, 2025 - 09:19
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/news/payments/hex-trust-receives-major-payment-institution-license-monetary-authority-singapore
Financial IT
IXOPAY Launches Payment Account Reference Solution, Deepening Customer Insights in Digital Commerce

IXOPAY, a leading provider of enterprise-grade payment orchestration, today announced the launch of its Payment Account Reference (PAR) solution, enabling merchants and payment platforms to link transaction data across multiple payment channels and methods. This gives marketing and customer-facing teams unprecedented visibility into purchasing behavior across payment methods, making PAR a powerful tool for delivering the personalized shopping experiences consumers expect.

Thursday, March 6, 2025 - 09:09
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/news/payments/ixopay-launches-payment-account-reference-solution-deepening-customer-insights-digital
Financial IT

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