Deutsche WertpapierService Bank AG (dwpbank), Germany's leading provider of securities services, has successfully launched the “wpNex” platform for digital assets and conducted pilot transactions with crypto assets for retail customers.  The platform was developed with valantic FSA providing the underlying automation and integration technology. The launch of “wpNex” enables 1200 banks and savings banks in Germany to develop opportunities to trade digital assets for themselves and their customers. The first component of the wpNex platform is an offer for trading cryptocurrencies, and the pilot transaction based on Bitcoin has been successfully completed. wpNex will be gradually expanded so banks and savings banks connected to dwpbank can include the regulated trading of other digital assets in their services for retail customers.  

The valantic FSA automation platform allows existing core banking systems of affiliated banks to connect with the trading system of the execution broker (Bankhaus Scheich), the wallet provider (Tangany) and the settlement service provider (dwpbank). This enables an automated workflow between the parties, allowing each bank to provide customers access to cryptocurrency trading through their existing systems. The valantic FSA automation platform allows the aggregation of customer transactions into omnibus wallets to net and settle them there. This dramatically reduces the cost per transaction, which is usually a two-digit euro amount per transaction on the blockchain. That way, thousands of transactions from customers of connected banks will be aggregated into a single blockchain transaction between the omnibus wallet and the execution broker, reducing the cost to the ones of a single transaction. valantic FSA has thus made it possible to both build a bridge between existing banking architecture and the new world of digital assets and to provide the entire data integration that can significantly reduce the cost of processing the transaction. As a result, wpNex allows any affiliated bank to offer its customers the opportunity to trade digital assets via its existing infrastructure easily and inexpensively. 

“Regardless of how the market for cryptocurrencies will continue to develop: digitized values will become increasingly important in the future. That's why we're expanding our range of services in this area and gearing our portfolio more closely to the future opportunities that are available here," says Dr. Heiko Beck, CEO of dwpbank.

“valantic FSA has a long and successful track record in electronic trading and transaction automation - which is also applicable to crypto assets” notes Joachim Lauterbach, CEO, at valantic FSA. “Banks want to provide their clients with the opportunity to participate in these new markets. To do so, they augment their existing core systems with our automation technology, providing them with an efficient low-code modular business solution. We are proud to work with dwp to develop efficient solutions for the emerging digital asset market.”

BPC and strategy consultancy Fincog today announced the launch of a new report highlighting the current state of the digital banking market in Europe, providing insights into key trends shaping the market and business models and strategies that banks are adopting to succeed in a rapidly changing landscape. 

Digital Banking in Europe examines the key success factors and opportunities for banks to differentiate and position themselves in an increasingly crowded market. The research is based on a comprehensive analysis of the European banking industry, including data on market size, digital banking leaders, and consumer behaviour – and is informed by various experts on the European banking market. 

“We’re thrilled to share the insights of this valuable research, which highlights how Europe’s current digital banking landscape is undergoing tremendous changes,” said Oleg Patsiansky, Head of Digital Banking at BPC. “With challenge comes opportunity, and the capabilities and technologies available today provide banks and fintech with a range of ways to support customers and economies in weathering the storm of a nearing recession.” 

The report explores how in the context of an ongoing cost-of-living crisis and global macroeconomic shocks, banks and newcomers must leverage world-class user experiences for increasingly concerned consumers. Furthermore, Banking-as-a-Service providers offer digital banks the opportunity to develop and expand their portfolio of products and services in a more cost and time-effective manner than ever before. 

Additionally, it argues that exploring new customer segments might be well worthwhile. Small and medium-sized enterprises, as well as micro-enterprises in Europe, are one of those customer segments that, in an economic downturn, present a tangible business opportunity to the banking sector.

Jeroen de Bel, Founder of Fincog, added “We are delighted to provide this comprehensive analysis of the current state of the digital banking market in Europe. Our research offers valuable insights into the innovative strategies that banks are implementing to succeed in an ever-evolving landscape. As we navigate through challenging times, it is imperative to leverage cutting-edge technologies to offer world-class user experiences and solutions that address consumers' evolving needs.”

BPC has built a strong reputation for understanding and mastering local banking and payment context and behaviour. With 350 customers across 100 countries globally, BPC has collaborated with all ecosystem players ranging from tier one banks to neobanks, Payment Service Providers (PSPs) to large processors, ecommerce giants to start-up merchants, and government bodies to local hail riding companies, contributing to better financial inclusion using next-generation technology. 

Money20/20, the world’s leading fintech show, unveils its agenda for the upcoming Europe show in Amsterdam, June 6-8th. Over 300 speakers are expected to join Money20/20 Europe this year. They include top executives from global banks including HSBC, Barclays, Deutsche Bank, NatWest, and Citi; cutting edge payments providers including GoCardless and Stripe along with expanding fintechs such as Plum, Bunq, and Zilch to name a few.

Money20/20 Europe is also welcoming the CEO of the London Stock Exchange, the Tel Aviv Stock Exchange, the Regtech Association, the European Banking Authority, and the Israel and German Ministries of Finance to their stages.

“We are proud to present an agenda designed to help the industry build bridges from the challenges of right now to the incredible opportunities of what is next. Money20/20 Europe is the place where money does business. We can’t wait to open the doors to the RAI Amsterdam Convention Centre on June 6th, fueling the industry with inspiration, knowledge sharing, genuine in-person connections and so much more,” said Tracey Davies, President of Money20/20.

Hiroki Takeuchi, Co-founder and CEO of GoCardless, a global leader in direct bank payments, is one of Money20/20 Europe high profile speakers. “I'm excited to speak at Money2020. I hope my session on the future of payments will encourage everyone to seize the once-in-a-generation opportunities in front of us and push innovations like open banking to their full potential, helping business and consumers everywhere,” said Hiroki Takeuchi.

While the show covers the breadth of topics in fintech, this year ESG is holding a larger space with over 10 sessions dedicated to the subject with speakers from Visa, Frontier, the Ellen McArthur Foundation, and platforms such as Patch and Parley.

Gerrit Sindermann, Deputy Executive Director at Green Digital Finance Alliance, a Swiss-based not-for-profit catalyst of next generation green digital finance will be moderating the panel Sustainability: Tick Box or Choice. “At GDFA, our mission is to drive financial innovation for climate, nature, and biodiversity challenges across the global ecosystem. We see Money20/20 Europe as an impactful platform for helping us shape the green digital finance landscape globally.”

The Money20/20 Europe agenda of confirmed speakers can be found here.

The Central Bank of the UAE (CBUAE) has launched its Central Bank Digital Currency (CBDC) Implementation Strategy in collaboration with R3, G42 Cloud and Clifford Chance. For Phase 1, R3 and G42 Cloud have been selected as the technology and infrastructure providers of the initiative respectively, while Clifford Chance will provide critical legal oversight for the strategy. The strategy, which represents one of nine initiatives in the CBUAE’s Financial Infrastructure Transformation (FIT) Programme, sets out a roadmap for applying CBDC across a range of domestic and cross-border use-cases in the region.

The CBUAE’s commencement of its CBDC strategy represents a major milestone in the UAE’s path towards CBDC issuance. The first phase of the strategy, which is expected to take place over the next 12 to 15 months, comprises three primary pillars. These include initiating real-value cross-border CBDC transactions for international trade settlement, proof-of-concept work for bilateral CBDC bridges with India, and finally, proof-of-concept work for domestic CBDC issuance covering wholesale and retail usage. 

As part of the CBUAE’s digital transformation programme, the implementation of the CBDC strategy will aim to address the pain points of cross-border payments, enhance financial inclusion and further strengthen the UAE's payment infrastructure. The technological support of R3 will enable CBUAE to ensure the readiness of the UAE for the potential future tokenisation of financial and non-financial activities, in addition to the digitalisation of other financial services.

R3’s Corda – the world’s leading permissioned distributed application platform - is specifically designed for institutions operating in highly regulated environments, making it an ideal foundational technology for central banks to issue and distribute CBDCs. Its interoperability and asset fluidity means that central banks can move digital currencies openly and freely across network boundaries, using well-defined trusted exchange protocols that meet regulatory demands for privacy and security.

David E. Rutter, CEO at R3, comments; “This is another landmark moment in bringing CBDCs even closer to production and issuance. CBDCs can strengthen our financial market infrastructure in several ways, including more efficient cross-border payments, faster settlement time periods and the streamlining of multi-party processes. The CBUAE has made a significant step forward in realising these benefits. We are honoured and excited that R3 has been selected to design and build CBUAE’s CBDC ecosystem in this innovative move towards building a more open, trusted, and enduring digital economy. We look forward to supporting the CBUAE in the next stage of its CBDC journey.”

R3’s selection as the technology provider for Phase 1 of the CBUAE’s CBDC strategy adds to the growing number of digital currency initiatives being built on Corda.

As the infrastructure provider for the CBUAE's CBDC Implementation Strategy, G42 Cloud will play a critical role in the successful deployment and adoption of the CBDC system. The company's commitment to innovation and excellence in cloud technology will enable the CBUAE to offer a modern and efficient CBDC system that meets the needs of the UAE's rapidly evolving digital economy.

Talal Al Kaissi, CEO at G42 Cloud, comments: “We’re thrilled to be supporting the CBUAE in the development of its digital dirham. This collaboration represents an important milestone in the digitalisation of the UAE’s monetary and payments framework and ensuring that the country remains at the forefront of financial services innovation. As a company founded in the UAE, we have seen first-hand the country’s rapidly advancing status as a global fintech hub and are excited to be working with the CBUAE in leading its digital transformation. We look forward to working with the Central Bank and R3 to deliver a cutting-edge CBDC infrastructure that meets the highest standards of efficiency, security, and innovation.”

Jack Hardman, Partner at Clifford Chance and Head of Fintech in the Middle East, comments:  “As CBDC development moves from research to real-life building, it is vital that central banks are aware of the legal implications of any chosen design feature or strategy, in addition to how this emerging technology interacts with existing regulations. Clifford Chance has an established track record as a leading advisor in the fields of financial services and technology, and we look forward to working with the CBUAE on its CBDC implementation strategy.”

JCB International Co., Ltd., the international operations subsidiary of JCB Co. Ltd., today announced that merchants in multiple European markets will be able to accept JCB Cards, both at the physical point of sale and for e-commerce transactions. Over 150 Million international JCB Cardmembers will be welcomed by participating merchant clients of Fiserv, Inc., a leading global provider of payments and financial services technology solutions that enable card acceptance for tens of thousands of merchants in the region. 

This multi-regional collaboration will expand payment choices for JCB Cardmembers, allowing them to pay with their JCB Cards at participating merchants in the United Kingdom, Germany and Poland. Merchants ranging from large enterprises with an omnichannel focus to smaller businesses with their sights set on delighting an international customer set will benefit from the ability to offer an additional payment option through their existing merchant acquiring relationship, with the potential to welcome global travellers and accelerate their growth.

Fiserv, which was named Merchant Acquirer of the Year at the 2022 Merchant Payments Ecosystem Awards, will support JCB Contactless and J/Secure payment gateways for the European merchant communities. JCB Contactless provides a reliable, simple, and expedient way for JCB Cardmembers to pay in-store, whilst J/Secure is JCB's Cardmember authentication programme compliant with EMV® 3-D Secure that makes e-commerce more secure by executing risk-based authentication and provides frictionless e-commerce experiences for JCB Cardmembers upon checkout.

The new collaboration is a key part of JCB’s plan to increase its card acceptance rates across Europe, enabling a seamless and secure payment experience.

Ray Shinzawa, Managing Director, JCB International (Europe) Ltd., said: “We are delighted to have signed and sealed our partnership agreement with Fiserv. This collaboration will allow secure, convenient and speedy payment gateways for our JCB Cardmembers and the valued merchant clients of Fiserv. We look forward to our continued work together and admire the determination of Fiserv towards making a positive business impact on its growing merchant network and our international Cardmembers.”

Sebastian Gollwitzer, Head of Merchant Product for EMEA, Fiserv, said: “In an interconnected world consumers value the ability to pay wherever and whenever they want, using their preferred payment method. Our partnership with JCB will enable businesses to broaden consumer payment options, simplify payments acceptance, and accelerate growth.”

ClearBank Ltd., enabler of bank accounts, real-time clearing, and Embedded Banking for financial institutions, today presents the results from its 2022 Annual Report revealing the bank nearly tripled income to £58m in 2022 (+173% YoY) after reaching monthly UK profitability.

Despite sector turbulence and a challenging macroeconomic landscape, 2022 saw ClearBank’s unique combination of fully licensed banking services with a next-generation technology platform fuel accelerated growth for one of the UK’s newest banks. Income was driven primarily by an increase in both net transaction (+43% YoY) and fixed platform fees (+23% YoY) as the bank increased its customer base by 22%, along with growing balances held at the Bank of England in a rising interest rate environment. ClearBank anticipates continuing UK profitability through 2023 as it plans expansion into Europe in H2.

The first quarter of 2023 has seen numerous systemic events within financial services, including the failure of Silicon Valley Bank and additional challenges within US and European financial services. As institutions seek safety, security, and resilience in their banking partner, ClearBank has continued to see positive momentum, with an increase in deposits to £3.7 billion, record transaction and client volumes, a strong pipeline, and continued UK profitability in 2023 to date. This is highlighted by the 20% increase in customer balances in the week following Silicon Valley Bank’s collapse.

Key 2022 highlights:

• Deepened UK market footprint: ClearBank welcomed a host of major new institutions including Kroo, PEXA, Raisin, and WealthKernel as it added 39 new customers in 2022 (+22% YoY). The exclusive partnership with PEXA has created an entirely new payment system and the world’s first fully digitised property settlement process. This development promises to streamline the UK mortgage process improving the speed, efficiency and UX for property buyers. Customer growth drove £70m (+46% YoY) in annual transaction volumes.
• Growth in Embedded Banking: Following its successful award-winning partnership with Tide in 2020 and Chip in 2021, ClearBank welcomed Raisin as its third embedded banking partner in 2022. Embedded Banking end-users have grown to 629k (+86% YoY) by year end. 
• Expanded product offering: ClearBank ramped up its FX and multicurrency offering, expanding FX to 64 quotable currency pairs across 12 markets worldwide with a longer trading window. The addition of Confirmation of Payee to its platform has made payments smoother and more secure for end-users. The bank has also commenced development work for direct access to Target2, SEPA CT, and SEPA Instant.
• Investment for international expansion: ClearBank secured £175 million in primary and secondary funding, led by the Apax Digital Fund and its current investors, to accelerate global service expansion and submitted its draft European Banking application to the Dutch central bank. The bank plans to offer its clearing and Embedded Banking platform to European customers in 2023, before expanding into North America and other markets.

“2022 was a landmark year for ClearBank – we’ve grown exponentially, onboarded fantastic new clients and been one of the few new banks globally to reach profitability. On top of this, we’ve secured the investment to fuel the next phase of ClearBank’s journey - international expansion,” said Charles McManus, CEO, ClearBank. “With economic uncertainty continuing into 2023, the security and resilience offered by ClearBank is crucial to unlocking the potential of our clients and their customers, helping them to continue to innovate, differentiate and grow.”

“Our business model is unique in the industry, and maintaining our policy of holding all our GBP balances securely at the Bank of England remains a core part of our client proposition,” said Mark Fairless, CFO, ClearBank. “Growth in 2022 and our ability to support existing and new clients in the first quarter of this year is a testament to the safety of our business model and the popularity of our proposition with our client base. As the investment from Apax Digital enables ClearBank’s international expansion in 2023, ClearBank can now look forward to becoming capital generative in the UK on a sustainable basis.”

Analysis of Google search data reveals that searches for Dogecoin have surged 1,992 per cent worldwide over the last seven days after Elon Musk changed Twitter’s bird logo to Dogecoin’s shiba inu on Monday, 3rd April.

The analysis, by online casino guide 6Takarakuji, reveals that searches for ‘Dogecoin’ exploded by 1,992 per cent above the average volume in the last seven days after the Twitter logo changed to a shiba inu on many users’ devices. 

This is an increase of over 20 times the search interest compared to average levels over the last seven days.

The change caused buying interest to surge overnight, as searches for ‘buy Doge’ and ‘buy Dogecoin’ soared by 1,044 and 253 per cent, respectively.

Dogecoin’s price has jumped more than 30 per cent and is now ranked the seventh most valuable cryptocurrency by CoinMarketCap.com, overtaking Cardano.

Though famously associated with Dogecoin, Musk’s Twitter logo change also caused searches for ‘Shiba Inu coin’ to surge by 132 per cent.

Google searches for ‘Twitter’ have leapt over the last seven days, rising 38 per cent as users noticed the change and media outlets reported it.

Google Trends data shows that almost three-quarters (72 per cent) of the 25 highest-trending searches relating to Twitter over the last seven days regard the logo change, which has created a buzz amongst internet users.

But many users unfamiliar with Dogecoin have been left confused by the image change. ‘Why is there a dog on Twitter,’ ‘Twitter dog logo’ and ‘Twitter logo change’ are among the top trending searches. 

So why has the Twitter logo changed?

In March 2022, a user suggested that Musk buys Twitter and changes the bird logo to a doge. Elon responded with approval. 

Musk has now tweeted a screenshot of that conversation with the caption ‘as promised.’ 

Elon Musk is famously associated with the coin and is among its most high-profile investors. Last year, Musk announced that Tesla will accept Dogecoin payments for its products. He is accused of intentionally inflating the coin’s price and faces a $258 billion racketeering lawsuit by cryptocurrency investors who describe it as a ‘pyramid scheme.’ 

A spokesperson at 6Takarakuji commented on the findings:

“Elon Musk shows his power with a single logo change. By removing the iconic Twitter bird logo, Musk demonstrates that Twitter belongs to him. The effects of his actions are evident in the surge of user interest in Dogecoin, as investors rush to buy Doge to catch any potential yields as the price shoots up. But how long will it last? That could depend on how long Twitter keeps its new logo and if users find the joke funny for long enough.”

This is Lightyear's first expansion outside the Eurozone — a move led by demand from hundreds of local waitlisters. Hungarian investors are hugely underserved, left to invest through expensive legacy solutions like banks, or with neobrokers that don’t offer users a localised solution. Lightyear fixes both ends of this problem

 • Lightyear launches a localised product, with the Hungarian Forint included in its multi-currency account for Hungarians, so customers can finally deposit in local currency, convert money into EUR, USD or GBP at the true exchange rate, and invest in the world's markets without hidden fees.
 • As with other currencies in its multi-currency account, investors can also earn interest on their Forint balance. Dependant on the central banks' interest rate, Lightyear's users currently earn a 12.25% interest on their uninvested HUF. For USD, this sits at 4%, 3.5% for GBP and 2.25% for EUR.
 • Lightyear is founded by ex-Wise duo Martin Sokk & Mihkel Aamer, and combines multi-currency accounts with unlimited access to global stock markets so people across Europe can invest without hidden fees.
 • Lightyear has raised $35M and is backed by Silicon Valley based venture capital firm Lightspeed Venture Partners and Sir Richard Branson.

Utimaco, a leading global provider of IT security solutions, acquired conpal GmbH, a provider of IT security solutions for the protection of confidential data through encryption and authentication, on March 31, 2023. Utimaco was already selling conpal products before the acquisition, and with the integration that has now taken place, Utimaco can offer its customers a complete portfolio for IT security from a single source in the areas of data encryption, hardware security modules, key management and public key infrastructure (PKI) in highly regulated areas. At the same time, the takeover marks another milestone in Utimaco’s strategic development from a product to a solution provider.

LAN Crypt, conpal's flagship product, will become part of Utimaco's Data Protection division. The LAN Crypt Cloud project, which is strategically important for conpal, forms a substantial building block for Utimaco's planned service strategy. Continuity is maintained as Utimaco takes over all previous employees, maintains the locations in Neu-Isenburg and Linz and invests in further development. The "conpal" brand is to be transferred to the Utimaco branding in the future, while "conpal GmbH" will continue to exist as a legal entity.

The file encryption conpal LAN Crypt, respectively u. trust Data File, will be continued under one name for the foreseeable future. It ensures the legally secure handling of sensitive data in accordance with data protection regulations such as GDPR, CCPA, PDPA, etc. At the same time, the solution is user-friendly - a decisive factor for the acceptance of security measures by the workforce.

“We at Utimaco want to position ourselves as the preferred partner for cyber security and compliance in highly regulated and demanding industries. Deep integration, from the hardware through various software systems to the cloud, plays a crucial role for us,” says Stefan Auerbach, CEO of Utimaco. "With conpal, we are now gaining another first-class product that fits seamlessly into our ecosystem."

“We at conpal have a long-standing business relationship with Utimaco. We know each other very well and have already worked together on projects. We realized that we have similar goals and values ​​and that our corporate cultures fit together very well. Thanks to the integration into Utimaco, we can now join forces and act even better together on the market. Of course, our existing customers can continue to expect the level of quality and service that they are used to from us,” say Rolf Wassermann and Ralf Engers, old and new managing directors of conpal GmbH, who ensure this continuity.

AMLYZE, a fast-developing RegTech that helps fintechs, crypto businesses, banks, and other regulated entities to fight against financial crime, has launched a new version of its core product dedicated to transaction monitoring, client risk-scoring and case management for successful AML-related processes.

The first two customers have already successfully migrated to the new platform and the rest will be onboarded by the end of the second quarter of this year. 

The new, completely redesigned application is based on UI/UX best practices and has been completely rebuilt from the technical side, including a new API version, resulting in faster response times, greater stability and less human resource-demanding from the customer side.

A new technology stack has been used to completely redesign the rules and scenario engine, making it more stable and up to 22 times faster, with new and more flexible customisation options.

Gabrielius Bilkštys, CEO and co-founder of AMLYZE, said: "We are pleased to announce the launch of the new version of our product. It is a long-awaited milestone of very intensive work of our new IT team, and I personally believe that it will greatly contribute to the success of our current and future clients. Regulatory requirements for anti-money laundering are increasing all around the world, and that's why our Software-as-a-Service (SaaS) tool will play an increasingly important role in successful compliance, not only for fintechs, but also for a wide range of businesses, related to risk assessment and transaction monitoring".

Aleksandr Lazutkin, Chief Product Officer of AMLYZE, added: “We are listening to our customers and will continue to enhance and add features that will help our customers more efficiently manage their day-to-day compliance and transaction monitoring needs.”

AMLYZE’s core products are now transaction monitoring, customer risk assessment and case management, which will be complemented by an advanced back-testing, perpetual KYC modules, a quality assurance workspace and other features.