House of Lords committee says UK digital pound is “solution in search of a problem”
The Economic Affairs Committee cited financial, privacy and data concerns over UK CBDC.
Central Bank
USDF Consortium launches to develop and promote bank-minted stablecoin
The FDIC-insured banks want to “unlock the financial opportunities” of blockchain technology.
SIX, BIS and SNB conduct CBDC core banking integration test
Citi, Credit Suisse, Goldman Sachs, Hypothekarbank Lenzburg and UBS also took part in the experiment.
Video: fintech news pick of the week – Checkout.com funding; UK fintech investment; digital currency pilot in Bahrain
Our top pick of news from the world of finance and tech in bitesize video format, every week.
Instant payments come to Curaçao and Sint Maarten
The system was developed by European paytech provider Worldline.
Central Bank of Bahrain and JP Morgan conduct successful digital currency settlement test
The test was facilitated by JP Morgan’s new blockchain-focused business unit Onyx.
2021: Top five movers and shakers
FinTech Futures takes a look back at some of the year’s seminal hires and appointments.
Bank Indonesia launches real-time payments infrastructure to broaden financial inclusion
The new payments system will form the “backbone” of a broader retail payment system infrastructure.
Flinks and National Bank of Canada launch open banking solution
The launch comes amid frustration at the slow pace of open banking in Canada.
State of play: central bank digital currencies (CBDCs)
CBDCs must have interoperability at their core if they are to be adopted at mass scale.
Indian government takes next step in banning cryptocurrencies
Scheduling of bill points to government’s stance despite speculation over rethink.
National Bank of Kuwait unveils country’s first digital bank
Weyay is in beta mode and will target the country’s large youth market.
ECB report finds banks failing to meet climate risk goals
The study looks at 112 banks, with €24 trillion of combined assets.
ING’s Evelien Witlox recruited to head ECB’s digital euro project
Witlox will analyse pros and cons of a digital euro to reside with cash.
Bank of England to launch UK CBDC consultation in 2022
Following consultation and development phase, CBDC could launch in second half of this decade.
Sabadell confirms offer from Co-operative Bank for TSB
The Spanish bank says that its board has rejected the approach.
Nigerian central bank launches eNaira CBDC
Central bank claims CBDC will boost financial inclusion in the continent’s most populous nation.
AmEx and Goldman Sachs partner to deliver cloud-based corporate payments platform
The platform will support multiple payment options and offer data and analytics dashboards.
Sibos 2021: Banks must work together to make the most of CBDCs, says panel
Panel says interoperability of CBDCs is necessary to avoid inefficiencies and poor outcomes.
Sibos 2021: BIAN releases upgraded digital core banking platform
The Coreless Bank platform is designed to help firms modernise their core banking infrastructure.
Sibos 2021: Citi’s Paco Ybarra says banks must adapt and collaborate in a rapidly changing world
Ybarra says that banks like Citi must work with, rather than against, change.
NatWest chair warns against “gambling” with cryptocurrency
Sir Howard Davies says the “damned stuff” should be banned.
EBF head calls for EU banking regulation reform to compete with US
Santander’s Ana Botín also calls for further banking integration across the bloc.
Bahrain’s Bank ABC taps Fenergo for client management solution
Bank ABC operates across the Middle East, North Africa, Europe, the Americas and Asia.
Bhutan central bank partners with Ripple to pilot CBDC
The CBDC pilot with the South Asian country is designed to boost financial inclusion.
Deutsche Bank boosts online payments with Better Payment acquisition
Deutsche Bank’s acquisition will expand its product range and market share in online payments in Germany.
Monese moves into digital banking with Investec
The new partnership will see the international bank begin to offer digital banking services to UK customers.
State Street to set up global cybersecurity unit in Ireland
The 400-strong team will support the company’s global operations.
China Bohai Bank taps Bairong for AI-powered digital upgrade
China Bohai Bank will utilise Bairong’s fraud and loan monitoring systems.
CBDCs are now a reality: digital payments security needs to catch up
The potential benefits of CBDCs will only be realised if consumers trust the technology.
Dock: meet in person on 24 November 2021 in London
Get ready for face-to-face interaction! Free VIP passes for banks & financial institutions.
CIBC acquires Costco’s Canadian credit card portfolio
CIBC will also become the exclusive issuer of Costco Mastercards in Canada.
Former HSBC boss to head up UK green infrastructure bank
The state-owned policy bank aims to level up UK infrastructure through targeted green investments.
Nigerian central bank partners with Bitt to deliver new digital currency
The Barbadian fintech says digitising the Naira will benefit the entire Nigerian financial ecosystem.
US Bank boosts fintech investment with stake in two VC firms
The bank says becoming a limited partner in the firms will enhance its fintech offerings.
Philippines to close digital bank licence applications as GOtyme gets the nod
Central bank says the window for digital banking licence applications will close on 31 August.
Reserve Bank of India blocks Mastercard from onboarding new domestic customers
RBI claims Mastercard Asia/Pacific has failed to comply with an earlier directive on data storage.
ECB agrees to move forward to investigation phase of digital euro project
Work will now focus on functional design and prototyping and will involve focus groups.
International Bank of Somalia partners Visa to launch card payment service
The partnership will enable cashless payments in the country.
Video: pick of the week – Bahrain to pilot digital currency; Facebook shifts crypto venture to US
A top pick of stories from the world of finance and tech in bitesize video format, twice a week.
