The BBC reports today** that migrants to the UK send £8bn to family each year. UNESCO calculate that the average transaction fees applied to international money transfers amounts to 7% of the total transaction. That means a whopping £560 million is lost to transaction fees every year. When you also consider that 30% of that money is sent back to get younger family members through education, it's a huge loss to those that are often required to work extremely hard to earn the money they send back in the first place.

Sopra Steria is today announcing a new engagement which will see it provide application maintenance services across all the major systems at the Financial Conduct Authority (FCA). This the latest major contract between the organisations, which follows the company’s development and launch of the Market Data Processor (MDP) in January 2018.

Kreston Reeves, one of the top twenty-five accountancy firms in the UK, has partnered with MindBridge Ai to improve its audit services through the use of artificial intelligence (AI). Audit is one of the key areas for the firm, which works with SME corporations and charities, and AI-based technology was chosen to evolve its continuing promise to provide valuable insights to its clients. 

Finastra announced today that FINCA Impact Finance, a global network of 20 community-based microfinance institutions and banks, has gone live with Fusion Risk to improve its short-term regulatory compliance and reporting in line with the International Financial Reporting Standard 9 (IFRS9).

Plenitude,  a niche consultancy, specialising in Financial Crime Risk and Compliance has announced the appointment of Steve Vinnicombe, former UK CEO of Capco UK, as a Non-Executive Director to help deliver Plenitude’s ambitious growth plans to meet the challenges posed by the evolving landscape of Financial Crime compliance.

Fenergo, a leading provider of Client Lifecycle Management (CLM) solutions for financial institutions today announced the creation of a Fenergo-powered application on Salesforce AppExchange. 

90% of schemes think prospects have improved thanks to member banks and regulators increasing support as they diversify beyond card-only payments

The Payments Jury today released its latest report which focuses on Domestic Payment Schemes, revealing that confidence is at an all-time high with 90% of domestic schemes indicating that prospects have improved thanks to member bank and regulatory support alongside increased cross-border collaboration and diversification beyond card-only payments.

Mobey Forum, the global industry association empowering banks and other financial institutions to shape the future of digital financial services, today announces the formation of the Digital ID Expert Group. 

Pure Storage (NYSE: PSTG), the all-flash storage leader that helps innovators build a better world with data, today announced Pure Storage Cloud Data Services, a suite of new cloud offerings that run on Amazon Web Services (AWS). With these new products, customers can invest in a single storage architecture that unifies application deployments on-premises and on the cloud to flexibly turn data into value virtually anywhere.