BNP Paribas, in partnership with Startup Studio 321, has introduced a standalone fintech solution for streamlining marketplace payments. This innovative venture, known as Panto, operates through a comprehensive plug-in API, and its primary focus is European B2C e-commerce businesses, particularly those that are BNP Paribas clients. In the future, this fintech platform may expand its services to encompass the European B2B and C2C markets, including international sellers. Neil Pein, head of payments transformation and new digital businesses, BNP Paribas, comments: “With Panto, we aim to contribute to the creation of a leading player for marketplaces and, moreover, in the platformisation…
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In the ever-evolving landscape of finance, traditional banks and fintech firms have forged partnerships that are reshaping the industry. This transformation has given rise to a dynamic financial ecosystem, one that hinges on a finely balanced regulatory framework. As an increasing number of countries embrace digital financial services, fintechs have transcended its former status as a banking disruptor. Now, it stands as an essential component of the financial world and especially for banks and financial institutions. In fact, eight out of ten consumers have integrated fintech products into their financial management practices. Simultaneously, businesses are reaping the benefits of a…
In a significant move towards enhancing the digital banking experience for credit unions, Catalyst Corporate Federal Credit Union has joined forces with Constellation Digital Partners to deliver the innovative remote deposit capture solution, TranzCapture, to credit unions utilizing the Constellation Digital Banking platform. TranzCapture, an offering designed and developed exclusively for credit unions, originated from Catalyst Corporate and is jointly owned by four of the largest corporate credit unions in the United States, operating through a collaborative partnership comprising over 3,500 credit unions. This collaboration represents a substantial 65% of all credit unions across the nation. With its seamless integration…
GenTwo, a leader in B2B financial technology, has formed a strategic partnership with Swissquote, Switzerland’s pioneering online bank. This collaboration strengthens GenTwo’s unique financial engineering network and broadens the range of services available to both companies and their clients. This partnership opens doors to a host of benefits for both GenTwo and Swissquote customers. Swissquote clients now have access to GenTwo’s suite of services, empowering them to create Actively Managed Certificates (AMC) in collaboration with Swissquote across a diverse array of assets, including traditional equities, foreign exchange, derivatives, structured products, commodities, and digital assets. This collaboration positions GenTwo as a…
Homebase Federal Credit Union, with $262 million in assets and 17,227 members, US Community Credit Union, boasting $296 million in assets and 27,297 members, and Southwest Financial Federal Credit Union, with $78 million in assets and 8,893 members, have collectively chosen Corelation’s KeyStone as their new core processor. The decisions of these three credit unions to partner with Corelation are rooted in the strong alignment between Corelation’s strategic partnerships and KeyStone’s exceptional seamless integration capabilities. “We chose to partner with Corelation based on their stellar industry reputation, marked by leadership in acquiring new clients and positive feedback from existing ones,…
In-Depth Report: CBDC Awareness and Sentiments Across Industries In a recent survey conducted by the CFA Institute, the global community of finance professionals demonstrated a clear divide over the adoption of central banking digital currencies (CBDCs). The study, which engaged with a vast sample of 90,000 professionals worldwide, offers insights into the industry’s perspectives on this emerging financial innovation. Mixed Reception and Varied Understanding Among the findings, it was discovered that only 42% of the respondents were in favor of central banks launching their own digital currencies. Surprisingly, 34% of those surveyed were opposed to the idea, while 24% held…
Generative AI is revolutionizing the banking industry, providing outcome-based solutions for financial institutions. With its advanced algorithms and machine learning capabilities, generative AI offers tangible benefits across various areas. One key outcome is the generation of synthetic data. By creating realistic simulated data, generative AI enables banks to accelerate innovation and enhance their products and services while ensuring customer privacy and data security. Generative AI also empowers financial institutions to deliver exceptional customer experiences and personalization. AI-powered virtual assistants and chatbots understand customer queries, provide tailored recommendations, and engage in natural language conversations, resulting in higher customer satisfaction and engagement.…
Singapore’s central bank, the Monetary Authority of Singapore (MAS), has initiated “Project Guardian” in collaboration with the Bank for International Settlements (BIS) and other financial institutions to investigate the development of open and interoperable networks for tokenized digital assets. With participation from 11 institutions, including HSBC, Standard Chartered, DBS, and Citi, pilot studies across various financial asset classes such as wealth management, fixed income, and foreign exchange will be conducted. Standard Chartered, for example, is actively involved in the initiative, working on an initial token offering platform in partnership with payments platform Linklogis. Their aim is to issue asset-backed security…
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The Bank of International Settlements (BIS) and the Bank of England (BoE) have concluded an innovative pilot project focused on central bank digital currencies (CBDCs). Named Project Rosalind, the initiative aimed to explore the implementation of a “universal and extensible API layer” to seamlessly connect central bank and private sector infrastructures, enabling efficient retail CBDC payments. Throughout the project, 33 API functionalities were developed, and an extensive examination of 30 retail CBDC use cases was conducted. These included peer-to-peer transfers, retail payments for goods and services, as well as small-value business transactions. The collaboration between the public and private sectors…
