Central Bank of Ireland proposes minimum knowledge requirements for credit union workers
The reforms will take effect from 1 October 2024 and will incur a four year transition period.
Central Bank
Project Mariana successfully completes cross-border settlement of wholesale CBDCs
The project was completed between BIS, Banque de France, MAS and the Swiss National Bank.
Raisin appoints former UBS chair Axel Weber as advisor and board member
Raisin claims to have experienced a “steep growth curve” amid interest rate hikes and a “savings rush”.
Digital euro still two years away as ECB president Christine Lagarde takes on conspiracy theorists
Lagarde has vowed to “address all the conspiracy theory that abounds” about the potential digital euro.
Bahrain’s Bank ABC taps JP Morgan for blockchain-based cross-border payment service
The launch arrives in tandem with the bank’s documentary trade suite, ABC Trade.
What the FinTech? | S.4 Episode 16 | Meeting customer needs in a cost-of-living crisis
In this episode of the podcast, we’re joined by Andrea De Gottardo, CEO of UK digital bank Kroo.
MAS appoints Chia Der Jiun as managing director with Ravi Menon set to retire
Chai succeeds Ravi Menon as managing director, who only renewed his term in May.
Mastercard launches CBDC Partner Programme to boost sector collaboration
Through the Programme, Mastercard aims to bring a “greater understanding” of the pros and cons of CBDCs.
AI-powered conversational payments to launch on India’s UPI
The tech will enable users to converse with an AI system to initiate and complete transactions.
MAS firms up regulatory framework for stablecoins
Issuers in Singapore will have to fulfil requirements to be recognised and labelled as “MAS-regulated stablecoins”.
FinTech Futures: Top five stories of the week – 18 August 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
TerraPay lands EMI licence in Italy as it plots European expansion
With the approval, TerraPay is now looking to expand within Italy and subsequently across the European Union.
Bank of England forms CBDC Academic Advisory Group for proposed digital pound
The formation of the AGG will ensure that the digital pound can be “accelerated” if given the green light.
FinTech Futures: Top five stories of the week – 11 August 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Bangladesh Bank taps Fime to launch domestic card scheme
The six-year partnership will see Fime help the central bank establish an independent payment infrastructure.
Banque de France, ERAFP, Generali Group tap Iceberg Data Lab for ESG data solutions
The clients will be able to access Iceberg Data Lab’s ESG dataset available via its impact calculation platform.
TransferGo hit with €310,000 fine from Bank of Lithuania for AML failings
UAB TransferGo Lithuania has already submitted a plan to the central bank to remedy the deficiencies.
The Republic of Palau taps Ripple for first stablecoin pilot
The pilot is expected to last for three months between selected merchants and government employees.
ING names Görkem Köseoğlu as new chief technology officer
Görkem Köseoğlu is to assume the position of chief technology officer from 1 September 2023.
UBS to pay $388m in fines relating to Credit Suisse’s doomed dealings with Archegos
The US Federal Reserve has fined Credit Suisse $269 million, with the UK’s PRA issuing a further $119 million fine.
PSR delivers update on progress of New Payments Architecture
The PSR’s future direction on the NPA was outlined in its annual plan and budget for 2023/24.
FinTech Futures: Top five stories of the week – 21 July 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
The US Federal Reserve launches new instant payments system FedNow
FedNow operates in parallel with the Federal Reserve’s existing payment services, Fedwire and FedACH.
Mexico’s CNBV reportedly facing legal action over delays publishing open finance rules
The complaint was filed by a Mexican citizen in June, according to El Economista.
FSB publishes global regulatory framework for cryptoassets
The framework comes a year after the FSB called for regulation of the crypto industry on an international level.
FinTech Futures: Top five stories of the week – 14 July 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
The Bank of London formally submits application for EU banking licence
The firm is setting up a new base in Luxembourg and will invest €200m in the country and across the wider EU.
UnionPay connects with Cambodia’s central bank over QR code interoperability
The agreement was confirmed by the signing of a MoU in Phnom Penh, Cambodia’s capital city, this week.
China imposes hefty fines on Ant Group and Tencent as it looks to normalise supervision
Ant Group and its subsidiaries have received a penalty of $984.3m, and Tenpay has been slapped a fine of $413m.
Britcoin privacy preserved as Bank of England taps Nuggets for identity layer
The layer will maintain user privacy and offer protection from fraudulent activity and money laundering.
Bank of Lithuania revokes EMI licence of PayrNet
The central bank says it took the decision due to “serious, systematic and multiple violations of legal acts”.
Swiss National Bank confirms wholesale CBDC pilot
The SNB is set to launch a new wholesale CBDC pilot on the SIX digital exchange.
BIS names Maha El Dimachki as new head of Singapore innovation hub
El Dimachki will join BIS from the Financial Conduct Authority (FCA) in the UK.
Colombia’s central bank taps Ripple to test blockchain use cases
The central bank plans to test Ripple’s CBDC platform in a controlled environment.
FinTech Futures: Top five stories of the week – 19 May 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Bank of England reportedly planning to reject Revolut banking licence
The PRA reportedly intended to issue a warning notice to Revolut over its balance sheet.
Regnology acquires UK-based Metadata Technology
The acquisition will boost Regnology’s tech offering for regulators, central banks and statistical agencies.
FinTech Futures: Top five stories of the week – 28 April 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
The future is FedNow: how the new RTP service is aiming to future-proof US payments
FedNow has the potential to drive innovation, broaden financial inclusion and improve cash flow.
IFGS 2023: More “radical change” for payments on the horizon, BoE deputy governor says
Payments used to be a “dusty corner” in financial services but are now evolving at speed, Sir Jon Cunliffe says.
