FinTech Futures: Top five stories of the week – 10 November 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Central Bank
European regulators agree on new rules for SEPA instant payments
The rules state that instant transfers must not cost more than standard services.
National Bank of Georgia taps Ripple for CBDC pilot
With Ripple, Georgia’s central bank aims to explore use cases and potential benefits of having a digital currency.
FinTech Futures: Top five stories of the week – 3 November 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Regulators of UK, Singapore, Switzerland and Japan launch collaborative effort to explore digital asset use cases
Project Guardian aims to share knowledge about the benefits and risks of asset and fund tokenisation.
The US Federal Reserve proposes new single cap on interchange fees
Reserve board member and governor Michelle Bowman has opposed the revised cap.
US Bank subsidiary Elavon lands UK banking authorisation
With the licence, Elavon intends to offer authorisation, settlement, card machines, and banking services in the UK.
FinTech Futures: Top five stories of the week – 20 October 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
ECB’s digital euro project to enter preparation phase from next month
The announcement follows the completion of the digital euro’s “investigation phase”, which began in 2021.
UAE’s central bank launches Aani, a new instant payments platform
Aani enables transactions to be processed “instantly and securely” at any given time.
Australia proposes significant regulatory reforms for digital asset platforms
The Treasury is welcoming feedback on its latest proposals until 1 December 2023.
Al Etihad Payments partners India’s NPCI to develop UAE’s first domestic card scheme
Al Etihad Payments is a wholly-owned subsidiary of the Central Bank of the UAE.
Fintech unicorn Slice to merge with India’s North East Small Finance Bank
Its merger with NESFB will see Slice transition into a small finance bank.
FinTech Futures: Top five stories of the week – 6 October 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
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.
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.
