WHAT:  The future of cash as the dominant payment method in Asia Pacific is changing as a result of technology innovation, government-sponsored programs, increasing smartphone penetration, and evolving consumer behavior.

Ahead of the ICAAP Stress Testing and Capital Planning Conference, we spoke with Jeff Simmons, Head of Enterprise Risk at Bank of Tokyo Mitsubishi UFJ, about the challenges banks are facing with meeting expectations surrounding ICAAP stress testing.

In our increasingly connected world, Mobile World Congress has become more than the venue for the latest smartphone launches. The conversations and demonstrations in Barcelona now have a profound impact on various industries across the globe.

With mobile playing a powerful role in the way we transact in-store and online, what did this year’s show mean for payments in 2018 and beyond?

Connected cars – driving IoT payments

Data can add clarity, accelerate decisions and build consensus. Becoming truly data-centric requires the utilisation of data in every corner of your business; it should touch every individual and be championed by leaders who embrace data and reinforce its role and importance. Studies have shown that data-driven organisations have 5% higher output and productivity than their less data–focused competitors

Competition between cryptocurrency mining companies is heating up, with two of the top companies, Miner One and  Ice Rock Mining, going head-to-head with their ICOs. Both companies offer a crowdfunding approach to cryptocurrency mining, promising to make the industry more accessible, efficient, and community-oriented.

A newly formed group of major finance industry players announced today that they have joined an OpenFin-led initiative to bring universal connectivity and standards to all of the financial industry’s desktop applications. The group, known as the Financial Desktop Connectivity and Collaboration Consortium or FDC3, is committed to addressing the increasingly fractured software landscape of capital markets.  FDC3 standards will enable faster decision-making, improve productivity and streamline workflow.

Alaric Compliance Services, a leading compliance consultant and outsourced compliance services provider, has been named Best Compliance Firm in the 2018 Alt Credit Intelligence US Services Awards.   The award recognizes best-in-class service providers that have the specialized skills and market knowledge to support alternative credit managers, from direct mid-market loan servicers and business development companies to complex derivative valuations professionals.  

Clinc, the leading conversational artificial intelligence platform for financial institutions, today announced from Finovate Europe, the launch of Spotlight, its self-service AI platform that leverages Clinc’s novel machine learning infrastructure and technology and puts the power of world-class conversational design into the hands of banks for the first time.

A global leader in corporate and consumer foreign exchange solutions, OANDA recently released a new version of its trusted Exchange Rates API, which has been updated to include real-time currency rates. The rates available on the new API are updated every five seconds, providing a more accurate reflection of current market prices. In addition to providing live rates, the new API also offers 96 fixing rates daily – more than any other currency data feed on the market.