In line with its new vision to fuel innovation, Africa and Gulf Bank (“AGB”) in Sudan has signed an agreement with Path Solutions, the software specialist for the Islamic financial services industry, in which Path will provide the front-to-back iMAL suite for retail, commercial and corporate banking to be implemented as AGB’s new core banking and channels platform.

Mettle, NatWest’s free standalone digital business account, has announced that FreeAgent, the cloud based accountancy software for small businesses, is available free of charge for its customers. Businesses who sign up to link their Mettle and FreeAgent accounts will save at least £150 a year – the minimum cost of an annual FreeAgent subscription.

Wolters Kluwer Compliance Solutions has launched a dedicated banking technology solution, utilizing its market-leading SaaS-based TSoftPlus™ software, in response to the U.S. Congressional passage of the CARES Act (Coronovirus Aid, Relief and Economic Security Act). The solution, branded as Paycheck Protection Program supported by TSoftPlus™,  is designed to help all U.S.

Innovation and technology usually go hand in hand.  Therefore, for innovation to be fully realized, the technology that enables the innovation must be adopted as well.  During the last 5 years, we have had innovations from Google, Apple, Facebook and Amazon, that include Mobile Banking, Payment Gateways, Mobile Wallets and Real-Time Payments applications, and yet, none of these innovations were broadly adopted.

Australian Payments Network (AusPayNet), the self-regulatory body for the payments industry, confirmed today that the payment industry will be increasing the PIN limit for contactless card payments from $100 to $200 to reduce the need for physical contact with the payment terminal.

In the recent crash, the independence of bitcoin relative to other assets has been challenged as it dropped by more than the S&P500 index. Many are tempted to conclude by saying the diversification argument does not hold anymore. The Research Department of SEBA Bank has a different opinion, based on an analysis of three examples of financial stress with a focus on gold. This precious metal is an asset revered as a classic diversifier and, like bitcoin, does not belong to the official monetary system.

BTC comparable to gold on the long run

A UK business could be eligible for a Coronavirus Business Interruption Loan Scheme (CBILS), as set out by the UK Government. However, it appears that despite the Government’s best intentions, this scheme is not working in practice and some urgent readdress are required. There is, therefore, a serious concern that small businesses will start to fail in droves within weeks unless urgent corrective action is implemented.

What does the CBILS offer?