Published
- 06:00 am

TraditionDATA, the data and information services division of Compagnie Financière Tradition (Tradition), has released a full suite of Thai Overnight Repurchase Rate (THOR) analytical data enabling customers to better view the changing Thai Baht market.
The full suite of THOR data, which includes a THOR OIS curve, is based on a combination of prices originating from trading by Tradition’s brokerage desks and its expert analytics. The data is available directly from TraditionDATA as well as on Bloomberg and Refinitiv under the firm’s Global and Risk-Free Rates packages.
The Bank of Thailand launched THOR in April 2020 and it will replace the Thai Baht Interest Rate Fixing (THBFIX) which will be discontinued after June 30, 2023. It also stated that starting from 1 July 2022 onwards, all financial institutions shall cease offering new derivatives referencing THBFIX, such as Interest Rate Swaps (IRS) and Cross Currency Swap (CCS), except for risk management of THBFIX legacy contracts.
Over the past two years, TraditionDATA has been working on adding Global Alternate Rates analytical data in response to the cessation of the London Inter-Bank Offered Rate (LIBOR). During this time, the firm has deepened its relationships with market regulators, global vendors, TraditionDATA’s subscribers and the brokerage business of Compagnie Financière Tradition.
So far in 2022, TraditionDATA has built and published over 30 new Interest Rate Derivative (IRD) curves. This augments the 30,000+ new interest rate derivatives instruments published by TraditionDATA and the firm has another six IRD curves built and waiting to be published.
Scott Fitzpatrick, CEO of TraditionDATA, commented: “Having been involved in the first trade on THOR in September, publishing a suite of THOR curves bookends a great story in Tradition’s Thai Baht business. The TraditionDATA team has been tirelessly working to publish new IRD curves to help our customers navigate the global LIBOR transition and the full suite of THOR analytical data is the latest testament to their hard work. We will continue to provide our clients access to the data they need when they most need it and look forward to adding more products over the coming months.”
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- 02:00 am

Fusion Risk Management, Inc. ("Fusion"), a leading provider of operational resilience, business continuity, and risk management software and services, today announced its innovative Scenario Testing functionality was named 'OpRisk Scenarios Product of the Year' at the Risk Technology Awards 2022.
The Risk Technology Awards are hosted by Risk.net and recognize vendors that help the industry meet challenges in ALM, credit, operational risk, and broader enterprise risk management. Award winners are decided by a judging panel consisting of technology users and the editors of Risk.net.
"Fusion is thrilled to win the 'OpRisk Scenarios Product of the Year Award' at the Risk Technology Awards 2022," said Michael Campbell, CEO of Fusion Risk Management. "This win demonstrates our continuous commitment to delivering the innovative, purpose-built solutions our customers need to prepare for and overcome any challenge. The global business disruptions and evolving regulatory environment we have experienced over the past few years have highlighted how critical it is that every business embraces robust operational resilience, scenario testing, and simulations capabilities. Fusion is dedicated to providing our customers with the products and services they require to thrive and achieve their North Star of resilience today and in years to come."
The win is attributed to innovations to the Fusion Framework® System™ and its Scenario Testing capabilities. Fusion launched its innovative Scenario Testing functionality in 2021 in response to increasing disruptions and changes in the regulatory landscape. The functionality enables organizations to test and analyze the impact of severe but plausible events in real-time. Fusion’s Scenario Testing solution allows businesses to visualize real-life risk scenarios and bolster resiliency programs to become more prepared, agile, and responsive when recovering from current or future disruptions and achieve true operational resilience.
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- 02:00 am

Manchester-based buy now, pay later (BNPL) fintech business, Payl8r, has been announced as a finalist in the ‘Best Retail Finance Provider’ category at the Consumer Credit Awards 2022, and will compete against credit giants PayPal and Klarna.
Payl8r won the ‘Best Retail Finance Provider’ category at the Consumer Credit Awards 2020, which aim to find those financial companies most dedicated to putting their customers first and to find the best credit providers in the UK.
The awards are voted for by customers, and the winner will be revealed on Thursday 8 September 2022.
Managing Director at Payl8r, Samantha Fogerty said: “We’re up against two global companies but feel confident that we have what it takes to win this award, as we’re a business that has always put the customer at the heart of everything we do. Unlike other lenders in the BNPL space, Payl8r has been regulated since day one and we use open banking at the point of application, so we can overlay our decision-making with real-time affordability data – this makes our process more meaningful than credit checks alone.”
Payl8r continues to lead the conversation around the need for better industry regulation and also for the use of open banking as a legal requirement for credit assessment in the same way that credit checks are. The business is a trailblazer in the use of open banking at the point of application and calls for other BNPL providers like Klarna to follow suit, as it offers a more accurate picture of an individual’s financial situation and risk level, and therefore safer lending for borrowers.
Samantha continues: “As the innovators, fintech BNPLs should be doing everything in their power to improve the financial wellbeing and help consumers manage their money, pay off debt, spread costs, improve credit scores and correct credit misuse. We do things differently and challenge the way banks and other institutions have operated for years.”
In 2022, Payl8r became the exclusive buy now pay later partner for Faces Consent, an innovative app used by the aesthetics industry to create client consent forms and purchase pharmaceutical products. The partnership is expected to bring in £24 million in revenue to Payl8r in the first nine to 12 months.
Over the next 12 months, Payl8r will diversify into different loan products including a wider range of interest-free products, loan products for the travel sector, personal loans and bespoke lending software enabling companies to create their own financial products.
The Consumer Credit Awards are voted for by consumers; they measure customer satisfaction and also how likely they are to recommend services to others.
“We’re huge advocates of responsible lending and ensuring customers get all the joy making a new purchase brings whilst securing and improving their financial wellbeing – we hope as many as possible will go online and vote for us,” concludes Samantha.
Launched in 2016, Payl8r is UK’s first BNPL business, created by millennials to offer flexible finance options for millennials and those who were previously underserved.
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- 06:00 am

Philippine fintech company Digido is pleased to announce the promotion of Country Manager Kirill Kalashnikov as the Regional Director for APAC of Singapore-headquartered parent company Robocash Group.
The newly-created role sees Kalashnikov, who joined Robocash Group in 2021, utilizing the alternative lending firm’s best practices in the Philippines in overseeing the company’s operations in the region, along with the implementation of a multi-product strategy.
A business leader for over a decade specializing in business analysis, operations performance improvement and new products development, Kirill held country business advisor and senior business analyst positions in recent years.
Digido Operations Manager Farit Shakirov succeeded Kalashnikov as Country Manager. Both promotions have been in effect since August 1.
Commenting on the announcement, Robocash Group CEO Natalya Ischenko said: “I am pleased to announce the appointment of Kirill Kalashnikov and Farit Shakirov in their new roles as Regional Director for APAC and Country Manager, respectively.
“Kirill brings much-needed expertise as we look to prioritize growing our business in Southeast Asia. The group is confident that we will continue to deliver strong results and serve our customers with best-in-class services.
“Farit will ensure proper continuity in Digido’s operations, which we intend to scale up as more Filipinos continue to embrace fintech and make it part of their everyday life.
Kalashnikov added: "I am excited in assuming this new role at Robocash Group, which continues to be a leading voice in alternative lending and marketplace funding across markets. Our mission of financial inclusion in APAC is a top priority and I am eager to support the leadership team and make sure the group’s customers and investors are well-served.”
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- 01:00 am

In the same week, it announced plans to axe nearly a quarter of its staff, and trading app Robinhood has lost chief product officer Aparna Chennapragada.
Chennapragada joined the company from Google a little over a year ago as its first chief product officer to oversee all product, design and research.
In a tweet thread, she says that she was "drawn to Robinhood for its potential to democratize finance for all". However, "the world has changed. As Robinhood adapts to this new context, it's time for me to move on".
Chennapragada, who spent 12 years at Google, where she led product, engineering and design teams, across Google Search, Shopping and AR, will stay in an advisory role until the beginning of next year.
Her exit comes as Robinhood not only fires hundreds of employees but also moves to a general manager structure in order to "flatten hierarchies, reduce cross-functional dependencies, and remove redundant roles and positions".
The changes come as Robinhood posted second-quarter results which show a 44% fall in revenues compared to the same period the year before on declining monthly active users and assets under custody.
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- 01:00 am

Goldman Sachs’ credit cards unit is undergoing investigation by the Consumer Financial Protection Bureau (CFPB).
According to a securities filing on Thursday, the Wall Street giant was a subject of examination by the CFPB for possible charges of fraud relating to the company's management issues in processing refunds, errors with consumer accounts, and reporting back to the bureau, and advertising.
A Goldman Sachs spokesperson stated they are cooperating with the federal agency in this investigation.
The details of the probe are still to be revealed, however, the firm has been the target of numerous customer complaints since 2019, with clients claiming unresolved problems with fees and refunds with their Goldman credit card accounts.
Goldman Sachs is reportedly absorbing over $1.2 billion in losses to back its move into the digital consumer market.
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- 03:00 am

Eight Ukrainian startups selected by Ukrainian Startup Fund will participate in TechBBQ 2022 on behalf of the country. Among them is the payment orchestration platform Akurateco. The company offers a brandable, white-label solution allowing users to own the end-to-end, ready-to-use PCI DSS gateway.
The largest and most ‘hyggelig’ tech event in Scandinavia, TechBBQ 2022, will take place on September 14-15 in Copenhagen, Denmark. The event is aimed at building communities and encouraging growth for startups and scaleups based on Nordic values. TechBBQ facilitated international recognition and support for Ukrainian startups.
“It is the highest honour to have our payment software as a part of the Ukrainian startup ecosystem,” states Akurateco on its LinkedIn page.
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- 08:00 am

A unique service which replicates popular dating apps to match start-up and young company leaders with established venture capitalists and private equity firms can now be accessed via a mobile app.
Qodeo, which offers a packed database of qualified funders, has made it simple for entrepreneurs to connect with, and start forging relationships with, the providers of much-needed funds from the convenience of their smartphones. Just 24 hours after the launch of the app, the algorithm which powers the Qodeo matches is showing 46,217 ‘cool’ matches and 4,180 ‘warm’ matches.
The Qodeo app, which is available in both Apple and Android versions, works in tandem with the online service. Subscribers will be able to see who they have been matched with, draw up a shortlist and use a handy messaging feature to make contact.
A subscription to Qodeo costs just £10 per month and cuts down the number of times entrepreneurs are spending to find a suitable funding match. They also benefit from Qodeo’s focus on providing solutions and speeding up networks, with access to proprietary research into market trends and tips for finding VC or PE backers for their businesses.
“The low-cost Qodeo service online has taken off, and our new app further facilitates the matching of young businesses with investors, who love the dating-style functionality,” said Simon Glass, CEO at Qodeo. “More and more business is being done digitally, and we want to help regional and diverse entrepreneurs, as well as our other subscribers, to get started on their fund-raising journey by connecting them with the right partners. The Qodeo app enables this.”
Go to the Google Play Store to download the Android app and to the App Store for iOS devices. Entrepreneurs can subscribe to Qodeo here while Qodeo is free for investors who can sign up online.
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- 07:00 am

American Express the leading Small Business Card issuer in the U.S. announced American Express Global Pay a new digital solution that enables U.S. businesses to securely2 make domestic and international business-to-business (B2B) payments. Through this new digital solution, business customers can send payments funded from their business bank account to their suppliers in more than 40 countries, across a range of currencies, using a simple, mobile-friendly platform. Eligible customers can also earn Membership Rewards® points on their foreign exchange payments.3 American Express Global Pay is currently available to eligible U.S. American Express Small Business Card Members.
“Businesses today start, grow and compete on a global scale,” said Dean Henry, Executive Vice President of Global Commercial Services at American Express. “Our U.S. Small Business Card Members told us they want an international payment solution focused on simplicity, convenience and the chance to earn rewards – so we built American Express Global Pay to enable these businesses to easily and effectively manage their B2B payments globally on a secure platform, backed by the trusted service and unique benefits of American Express Membership.”
According to a June 2022 survey by American Express4, 64% of U.S. small and mid-sized business owners and financial decision-makers said they expect their total spending with businesses outside of the U.S. to increase over the next six months and cite access to a wider range (43%) of products and services and supply chain diversification (35%) as some of the top business benefits of cross-border B2B spending.
However, one-quarter (27%) cited the complexity of the process as one of the top obstacles when making cross-border payments. When asked about the attributes that small and mid-sized business owners and financial decision-makers are looking for in a cross-border payments solution, nearly half (48%) said transparent fees and rates, on par with a simple user experience (44%). American Express Global Pay addresses these needs by providing:
- Integrated user experience: Access American Express Global Pay in the same place you manage your American Express Business Card account, including from your mobile device.
- Simple and intuitive steps: Pay suppliers with ease and reduce the risk of common errors and delays with fields that dynamically update based on the country of your payment.5
- World-class rewards: Eligible customers can earn 1 Membership Rewards® point for every $30 equivalent on their foreign exchange payments (maximum of 4,000 points per payment).3
- Same business-day payments: Payments may be eligible for same business-day delivery through American Express Global Pay’s connection to faster payment systems, such as SEPA Instant Credit Transfer, which includes all of the European Union. American Express provides an estimated delivery date when you place an order.6
- Transparent exchange rates: Before you send a payment, view and accept the applicable exchange rate.
- Trusted dependability: Send payments with the powerful backing and servicing of American Express.
- Streamlined application process: Apply online and get a response in minutes.7
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- 02:00 am

ACI Worldwide the global leader in mission-critical, real-time payments software, announced an agreement with Japan’s leading central domestic payment network, Japan Card Network, Inc, CARDNET, to modernize its digital payments infrastructure.
The agreement will see ACI work with CARDNET to provide the latest digital payments technology and next-generation solutions to CARDNET’s customers.
CARDNET processes more than 30 billion domestic payment transactions annually and provides card payment switching services to 106 companies nationwide and over 889,000 points of sale terminals to Japan’s leading merchants.
The new infrastructure will enable it to meet growing demand and provide its customers with more sophisticated digital payment services and solutions covering both Japan's domestic and international market.
“CARDNET has taken a great leap forward in its digital payments journey and we are excited to be part of the drive to modernize its payments architecture and the Japanese payments ecosystem,” said Leslie Choo, managing director, APAC, ACI Worldwide. “As Asia’s digital payments networks become increasingly interconnected, having the right technology, collaboration, and shared vision will be key to staying ahead and providing unrivalled customer convenience.”
ACI’s agreement with CARDNET is the latest in a series of successes across Asia Pacific for ACI as the company continues its growth in the region.