Bahrain’s Open Banking compliance deadline of 30^th June is rolling round quickly and its regulator, the Central Bank of Bahrain has already signalled that it has no plans to extend it.

Eagle clients can now source sanctions data directly from SIX for use within Eagle solutions. The alliance will help to streamline efforts by clients to source, validate, and align sanctions data with existing portfolio data, helping firms minimize the risk of reputational damage and fines that can result from dealing with sanctioned entities.

FINRA today announced the formation of an Office of Financial Innovation that will serve as a central point of coordination for issues related to significant financial innovations by FINRA member firms, particularly new uses of financial technology (fintech).

Bankable, the global provider of “Banking as a Service” solutions, today announced a strategic partnership with Visa (NYSE: V) to enable financial institutions and banks to access real-time and modular banking solutions worldwide.

 The world’s first open banking business lending platform, Trade Ledger, has won a place in the inaugural Hong Kong-UK FinTech Bridge Program announced last night (29th April 2019) at a special event hosted at Mansion House by the Lord Mayor of London.  In just three years Trade Ledger has established its ground-breaking business lending platform on three continents. This latest achievement means Trade Ledger is the first global technology platform to leverage both the AU-UK and UK-HK bridges.

Volante Technologies Inc., a global provider of software for accelerated end-to-end payments processing and financial message integration, has expanded VolPay-as-a-Service, its cloud-based ecosystem of business services for payments innovation and modernization, with key innovations for U.S. financial institutions.

The leading robotic process automation (RPA) company, UiPath, is blazing a path to an “automation first” era, closing its Series D investment round, raising $568 million at a post-money valuation of $7 Billion. This was led by Coatue and joined by Dragoneer, Wellington, Sands Capital, and funds and accounts advised by T. Rowe Price Associates, Inc.

Excudo announced that SEPA deposit functionality has been added to the Exscudo Exchange.

Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology and software solutions, announced today that it will begin offering Mastercard’s ‘Pay by Bank app’ to its customers in the UK to pay for goods and services directly from their bank account.

The KYC legacy

KYC can prove difficult for financial institutions of all sizes - it is often a complex operation, across middle and back offices, involving large teams of specialists. However, it can be made simpler, and the way to do this is through the digital transformation.