Reserve Bank of Australia set to conduct “holistic review” of retail payments regulation
The review will begin after the Australian government evaluates the Payment Systems Regulation Act 1998.
Central Bank
FinTech Futures: Top five news stories of the week – 14 June 2024
Our pick of the top fintech news stories this week includes Starling Bank, Mastercard, Bink and more.
Al Etihad Payments prepares to launch new domestic card scheme in UAE this month
Network International is among the first acquirers to launch Jaywan with merchants in the UAE.
Peru becomes first South American country to adopt NPCI’s UPI tech
The move seeks to offer “new and accessible payment services to everyone, especially the unbanked population in Peru”.
Money20/20 Europe explores blockchain, payments and personalisation on day two
Leading figures from financial services gathered in Amsterdam for day two of Money20/20 Europe on Wednesday.
BIS opens call to private sector participants for Project Agorá
Applications are to remain open until 31 May, with the final list of participants to be announced on 9 August.
Reimagining the future of money: freedom-bearing, human-centric
Protecting privacy is critical for digital money and CBDCs in order to obtain public trust.
Bank of Ireland invests €34m in customer service enhancements
The funding brings the bank’s total commitment to customer service enhancements to nearly €150 million.
Banking Technology Magazine May 2024 issue out now
Cover story: PLASTIC MEASURES – Banking must follow a more sustainable path.
Al Etihad Payments partners Core42 to launch open finance across the UAE
The UAE central bank says it will be ready to offer open banking to “the majority of customers” this year.
India’s RBI orders Kotak Mahindra Bank to cease onboarding new customers digitally
The bank will continue to provide services to its existing customers.
Central Bank of Mauritania partners Giesecke+Devrient for CBDC exploration
G+D will supply the technical support for the initial testing of specific CBDC use cases.
The Reserve Bank of New Zealand calls for views on potential CBDC
The consultation period is due to commence on 17 April and will run until 26 July 2024.
Ready to bloom: the rise of CBDCs in Asia
We delve into how and why Asia has surged ahead in the global race for CBDC development.
FinTech Futures: Top five news stories of the week – 12 April 2024
Our pick of the top fintech news stories this week includes Linqto, HSBC, Santander and more.
ECB names participants for new trials to explore settlement of wholesale transactions in central bank money
The testing will begin on 13 May this year, with the aim to explore several potential use cases.
SAMA greenlights beta launch of STC Bank
The approval by the Saudi Central Bank will see the company transition from STC Pay to STC Bank.
BIS unveils Project Agorá to explore the tokenisation of cross-border payments
Project Agorá will see seven central banks work in partnership with several private sector participants.
UK fintech Unlimit secures new PSP licence to expand into Tanzania
Tanzania marks the third African country to licence the fintech, following Nigeria and Kenya.
US Federal Reserve “nowhere near recommending, let alone adopting” a CBDC, chairman tells Congress
Fed chairman Jerome Powell tells Congress that “people don’t need to worry”.
Egypt’s Alexbank partners Mastercard to advance payments strategy
The partnership will focus on expanding Alexbank’s acquiring business and credit card base.
Qatar Central Bank to enable instant payments with new Fawran service
Fawran is due to launch in March and forms part of the bank’s Third Financial Sector strategy, announced last year.
Unity Trust Bank appoints Colin Fyfe as new CEO
Fyfe joins UTB from Hinckley & Rugby Building Society, where he was CEO for over five years.
Vast Bank exits cryptocurrency market, closes crypto banking mobile app
The bank disabled and removed the Vast Crypto Mobile Banking app from app stores on 31 January.
NatWest’s Mettle names Michelle Prance as new CEO
Prance has been promoted to help “meet the evolving needs of the self-employed community”.
UK to continue work on digital pound, but “no final decision has been made” on a potential launch
HM Treasury and the BoE have responded to a public consultation initially launched last February.
Save the date: The Banking Tech Awards celebrates its 25th anniversary on 4 December
Nominations for the 25th annual Banking Tech Awards will open this spring.
Banco de España announces partners for wholesale CBDC trials
The Spanish central bank’s trials are expected to run for around six months.
ECB ramps up preparation phase for digital euro with calls for component providers
The ECB is issuing five contracts to vendors worth a total of €1.1 billion, with work due to begin in early 2025.
Instant payments, BaaS and GenAI: A fintech industry review of 2023
FinTech Futures takes a look back at the key industry developments and trends to emerge over 2023.
Central Bank of Colombia partners ACI Worldwide for real-time payments system
The central bank will leverage the partnership to launch a real-time payments ecosystem in 2025.
Reserve Bank of India outlines plans for new fintech repository and cloud facility for FS firms
The new measures also address “moral hazard issues” in lending and boost certain transaction limits.
UK regulators issue joint proposals to tackle risk of financial instability posed by CTP dependency
The regulators are accepting feedback and expect to publish final requirements by H2 2024.
German wealthtech Trade Republic lands full EU banking licence from the ECB
The new licence means the firm can now offer essential banking services such as deposits and lending.
Eurosystem eyes up alternative payment solutions in latest retail payments strategy update
The aim of the strategy is to “develop pan-European solutions for payments at the point of interaction”.
Contis hit with €840,000 fine by Bank of Lithuania
The fine relates to alleged AML failings over a period between 2021 and 2022.
European Central Bank highlights continued sector-wide risk in latest Financial Stability Review
The ECB says residential and commercial real estate markets face “downside surprises” due to inflation.
UK’s Kodelab to provide lending tech for HKMA CBDC pilot with Ripple and Fubon Bank
The pilot is part of the HKMA’s three-stage approach to CBDC development.
Eurasian Bank launches Digital Tenge Card in preparation for Kazakhstan’s CBDC
The National Bank of Kazakhstan intends to issue its own CBDC in late 2025.
Block’s Cash App withdraws bid for Irish virtual asset licence
Cash App had been pursuing a VASP licence in the country since 2021.
