Even in its second year of investigation, the flames of the 1Malaysia Development Berhad scandal are still burning strong. Malaysia’s Prime Minister, Najib Razak, is accused of funneling more than $900 million from a government-owned sovereign wealth fund into his personal bank accounts. Banks, bankers, politicians, and even Hollywood celebrities have been connected to this scandal. Although Malaysia’s Attorney-General cleared Razak of any wrongdoing in 2016, several countries have continued their inquiries into money laundering linked to the funds.

IBM (NYSE: IBM) announced today that it has been selected as the strategic partner of Bank of Cyprus, the leading banking and financial services Group in Cyprus, for the implementation of the Bank's Digital Transformation.

Eurobits Technologies, founded in 2004, is a leading provider of services that enhance development of digital economy through cooperative innovation in advanced digital services.                                         

What is the service?

Brolly, the UK's first artificially intelligent insurance advisory application has raised a £1 million seed investment round with Valar Ventures, Pi Labs and Entrepreneur First (EF).

Brolly is delighted to be working closely with the partners of these funds: James Fitzgerald and Andrew McCormack of Valar Ventures, the US venture capital fund backed by Peter Thiel, who have made notably successful fintech investments; Dominic Wilson of Pi Labs, the property-tech focused fund, who are including insurance in their investment thesis; and Wendy Tan White, General Partner of EF.

VivaPayments, a global, cloud-based digital payments factory, providing innovative, reliable, and secure payments services to consumers, professionals, and businesses of any size, formed a strategic partnership with leading Chinese mobile and online payment platform Alipay. 

With the grand opening of its new “Digital Experience Center”, Raiffeisenbank Straubing eG takes an active step toward shaping the digital future in banking with NCR Corporation (NYSE: NCR), a global leader in omni-channel solutions. 

SIX Payment Services is buying the Frankfurt-based girocard network operations business from VÖB-ZVD Processing GmbH, a subsidiary of Deutsche Postbank AG. 

Financial services companies such as banks and money management apps can now offer their customers the option to manage their investment in peer-to-peer lending, with the launch of Assetz Capital-as-a-Service (ACaaS).

Payments Canada, the country’s financial market infrastructure for payments, today announced new rules that will enhance automated funds transfer, a type of payment commonly associated with employee payroll and bill payments.