Path Solutions, the Islamic banking software company, today announced that it is a winner of the 2020 IBSI Global FinTech Innovation Awards for ‘Most Innovative Analytics Deployment’ of iMAL*BI at Al Baraka Bank Sudan, a subsidiary of the strategic Bahraini multinational banking corporation Al Baraka Banking Group.

Barclaycard Payments has launched phase one of Barclaycard Precisionpay Go, a new online platform which allows companies to issue virtual cards, powered by Visa, to employees for business payments online. The functionality will also help support workforces to continue operating smoothly during an era of remote working.

M2P Solutions, an open API (Application Programming Interface) infrastructure platform company that works with businesses to roll out their own branded Fintech products, announced the expansion of its operations to the Middle East and North Africa (MENA) Region with Abu Dhabi as its Regional Headquarters.

The company has appointed Ms. Vaanathi Mohanakrishnan to lead its business for the region.

PXP Financial, the global expert in acquiring and payment processing services, today announces Status Page, a new and improved notification system for PXP Financial’s incident management process. Status Page is designed to be an evolution in customer visibility, allowing customers to see the status of services at all times.

KBC Securities Services has chosen the leading Digital Wealth & Asset Management software provider Objectway to implement Digital Client Onboarding for independent, Benelux-based wealth managers who rely on KBC Securities Services to safeguard their clients’ investment portfolios.

Mphasis (BSE: 526299; NSE: MPHASIS), an Information Technology solutions provider specializing in cloud and cognitive services, today announced that it has been recognized as a Leader in ‘Migration and Container Solutions’ and “Rising Star” in dual categories of Data Analytics and Machine Learning and Consulting Service Providers, for US and Germany regions by Information Service Group (ISG), a leading global technology research and advisory firm (

Temenos (SIX: TEMN), the banking software company, today announced that Alpian SA ("Alpian") has selected Temenos Transact, core banking and Temenos Payments delivered as SaaS to power pioneering digital private banking and wealth management services in Switzerland. Temenos SaaS technology will enable Alpian to rapidly launch its new bank and deliver innovative banking services, tailored to the “mass affluent” (those with investible assets of between CHF 100k – 1 million).

Understanding the region and country-specific nuances of the digitalisation of payments

Pandemic blues

In the Efma-Infosys Finacle ‘Innovation in Retail Banking’ 2020 study, author Jim Marous strikes a somber note when he says, “COVID-19 has had a lasting impact on consumer needs and behaviors, changing business models and creating significant new opportunities. More than ever, innovation is the foundation for digital transformation and must be prioritized to unlock the potential for post- crisis growth.”

The year 2020 will go down in the history books as a transformational one for the financial services industry. In particular, for the unavoidable progress made towards cashless societies becoming a reality.