Wholesale Banking

Tencent and DST Global Pump $115 Million into Qonto

French neobank Qonto has raised $115 million in Series C funding from Tencent and DST Global to double down on existing markets, develop new features to tailor its products to specific markets, and grow staff numbers from 200 to 300 during 2020. The online-only bank for SMEs, freelancers, and startups offers expense management, company card issuing and cash flow services to 65,000 accounts internationally. Earlier this month, the bank announced... more Read more »

Wethaq Launches First Sukuk on its Market Infrastructure Using SWIFT gpi Link

Wethaq announced that it has issued the first pilot Sukuk on its securities market infrastructure for the Islamic capital markets under the supervision of the Dubai Financial Services Authority. Al Ghurair Investments LLC (AGI) acted as the issuer, advised by Mashreqbank PSC acting as lead arranger, R3 as protocol provider, Clifford Chance as legal counsel and the Dubai Islamic Economy Development Centre as mentor. Read more »

Capitolis Raises $40 Million

Capitolis, a 'next generation' provider of capital markets technology founded by Gil Mandelzis, ex-Traiana, and Icap, Tom Glocer, ex-CEO of Thomson Reuters, and Igor Teleshevksy, formerly Traiana, has raised $40 million in financing from Spark Capital and SVB Capital. The firm is designing multiple new products and services to address capital markets constraints on under-utilised capital, initially in equities and foreign exchange, and has been... more Read more »

Standard Chartered Invests in Regtech Startup Silent Eight

Standard Chartered’s innovation, fintech and ventures unit, SC Ventures, has participated in a Series A funding round for regtech Silent Eight. The AI-powered anti-money laundering and counter-terrorism financing startup raised an oversubscribed US$6.2 million in the round, with OTB Ventures and Wavemaker Partners also participating. The capital will be directed at new hires, with plans to double its 50-strong global headcount by the end of Q1... more Read more »

Santander Cash Nexus Comes to North America

Santander Bank today unveiled its global Santander Cash Nexus solution for Commercial Banking and Corporate and Investment Banking clients in North America. This new platform offers clients a comprehensive suite of global connectivity solutions and provides access to local payment initiation and information reporting services in 15 markets around the world via a single point of entry. Read more »

PayQwick Appoints Bob Craig as Chief Operating Officer and Expands Leadership Team

PayQwick, a financial services company which delivers comprehensive banking and treasury solutions to emerging businesses, is pleased to announce several new additions to its management team. Read more »

Standard Chartered to offer domestic cash management services in Europe

Standard Chartered will offer clients an extensive range of cash management services out of London and Frankfurt covering the UK and Eurozone countries, following investment in a new cash management infrastructure. The infrastructure is scheduled for completion in mid-2020, and in addition to existing high- value clearing, transactional FX and pooling services the bank currently offers, it is developing  additional services including: virtual... more Read more »

Archax selects R3’s Corda Enterprise platform for digital exchange DLT infrastructure

Archax, the London-based institutional digital securities exchange, today announced a partnership with R3, the enterprise blockchain software firm. Under this partnership, Archax will use R3’s Corda Enterprise platform to handle post-trade activities on a distributed ledger. Read more »

Santander Leads EUR35 Million Series B in Debt Marketplace CrossLend

Santander InnoVentures is leading a €35 million funding round in pan-European digital debt marketplace CrossLend. The Series B financing round in the Berlin-based marketplace also includes funding from existing investors Lakestar, ABN AMRO Ventures, and Earlybird. Founded in 2014, CrossLend provides a digital debt marketplace for consumer, SME, invoices, mortgages and other forms of debt originated by banks and alternative originators. CrossLend... more Read more »

Refinitiv launches Matching service in Vietnam to create first electronic Marketplace for VND FX trading

Refinitiv today announced it has launched its leading global electronic trading Matching service in Vietnam, as emerging markets in the Asia region continue to develop their financial markets and digitize FX trading capabilities. The launch represents Vietnam’s first electronic marketplace for the trading of VND. Matching trades on a T+1 basis which is the most commonly traded value date. Read more »

Citi APIs for Treasury Services Reach a New Milestone

CitiConnect®, Citi's API connectivity platform has reached a new milestone, with more than 157 million API calls processed since its launch in November 2016. The APIs for Treasury Services, accessed through CitiConnect®, allow clients to seamlessly access a growing number of Citi solutions directly into their treasury workstations or enterprise resource platforms (ERP). Of the total API calls, the majority were from companies located in the Asia... more Read more »

Spotcap Welcomes Applications for Fintech Fellowship to Address Skills Gap

Online lender Spotcap today opened the Fintech Fellowship to applicants. The programme offers an £8k award to a postgraduate student studying a fintech related course at a UK university. Applications will be open for four months and close on the 1  August 2018. Read more »

ING Wholesale Banking Shapes Future to Support Clients

ING Wholesale Banking today announced a number of initiatives aimed at further enhancing client centricity, addressing clients' daily challenges and their strategic needs. The international network, currently spanning more than 40 countries will be strengthened, as we put more resources into Asia and the Americas. We are also investing in our advisory functions including core banking services such as the Debt Capital Markets and Corporate... more Read more »

FCA Signs FinTech Co-operation Agreement with Hong Kong Securities and Futures Commission

The Financial Conduct Authority (FCA) today entered into a co-operation agreement with the Securities and Futures Commission (SFC) in Hong Kong to foster collaboration in support of financial technology (Fintech) innovation.  Under the agreement, the FCA and SFC will co-operate on information sharing and referrals of innovative firms seeking to enter one another’s markets. Read more »

Overbond Adds Swap Price Calculator to Corporate Bond Intelligence Toolkit

Overbond, the first end-to-end Capital Markets fintech platform for primary bond origination, has unveiled its new Corporate Bond Intelligence Tool (COBI) Swap Pricing calculator with advanced analytics and visualisation.  The digital tool helps treasurers more effectively evaluate funding costs in multiple currencies and markets simultaneously. Overbond’s COBI Swap, powered by Thomson Reuters data, is the first institutional-grade swap... more Read more »

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