US based Orbis Systems which provides turnkey API and technology stack for global brokerages, fintechs and financial institutions has partnered with banking workflow automation platform Signzy to automate customer onboarding. Orbis will leverage Signzy’s AI powered onboarding suite to offer identity verification services for Indian and global customers. 

Challenger bank utilising the nCino Bank Operating System® to bring easier access to funding to SME property developers

nCino, Inc. a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced that ‘champion for the North’ challenger bank GBB is live on the nCino Bank Operating System®.

• The integration between Barclaycard’s Smartpay gateway and SAP’s Upscale Commerce platform will widen payment acceptance for SAP’s customers  
• This will allow more businesses to optimise their online payments process, improve customer experience and take advantage of Barclaycard’s anti-fraud capabilities
• The launch also introduces virtual cards and enables integrated options through SAP Ariba and SAP ERP

●      Orgnostic raises a $5M Seed round, only eight months after product launch

●      The round was led by Earlybird Venture Capital, and included participation from Script Capital, and angel investors including Eric Reis (Lean Startup), Rony Kahan (Indeed.com), and Charlie Songhurst (CSO of Microsoft)

●      The company will use the funding to dramatically accelerate platform development

• Mastercard’s Center for Inclusive Growth forms the Strive Learning Network, a coalition of individuals and organisations to work together to support small businesses.
• Strive UK is a programme to help small businesses build financial resilience and improve growth prospects over the next three years and beyond, by developing the digital skills they need to thrive.
• Research finds £827 billion growth opportunity for UK’s small businesses who can digitise in the next five years.

As the need to keep cash in our pockets and wallets disappears, banks have had to be creative in the way they continue to offer cashless services. ATM pooling is one such tactic, which sees two or more banks agree to handover the ownership and operation of their ATM fleets to a separate business entity. Pooling ATM resources offers banks a way of providing their customers access to cash, while reducing the operational costs of doing so. It is a concept that has been in use in the Nordics (Finland and Sweden) for some time.

Soft Chinese Data Weigh on Asian FX; NZ CPI Jump Lifts Kiwi, DXY Flat

Overview:

Watch the video for a summary of this week’s news releases, a review of the USD Index, and a complete Top Down Analysis of the AUDUSD.

AUDUSD Monthly:

Monthly support at 0.6991, resistance at 0.7414.

Monthly chart is in a downtrend. Price is currently rallying within the range of last month’s candle.

Tesla up 3%, helped push the Nasdaq higher, while the Dow Jones declined and the AUS200 appeared fully priced. The US economy is in serious trouble as the contraction in industrial production accelerates. The US dollar and stocks continue to be supported by massive capital inflows, $91 billion last month.

We have to mention the passing of former Secretary of State, General Colin Powell, who as the first African American to be Head of the Joint Chiefs of Staff, and Secretary of State, and is perhaps even a more significant figure than President Obama in this respect.

·         Early fintech champion, Ahsan Raza, formerly Managing Director and Co-head of the Technology Investment Banking Coverage team for Barclays in EMEA, appointed as CFO

·         Varun Atre appointed Head of Product from the previous role as Associate Partner at McKinsey & Company, bringing his experience in technology and financial services