Standard Chartered is set to unveil the initial phase of its integration plan in the Middle East and North Africa. This forward-looking move aims to bolster the bank’s service offerings for investment funds and asset managers. What is Distributed Ledger Technology (DLT)? At the heart of this transformative endeavor lies the instrumental role of Distributed Ledger Technology (DLT), a powerful tool that fortifies linkages between stakeholders, amplifies transparency, and streamlines fund distribution and operations. The integration of FundsDLT serves as a testament to Standard Chartered’s unwavering commitment to innovation within the global asset and securities services arena. This undertaking is…
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In a groundbreaking move within the precious metals market, TD Securities has officially joined the Paxos Settlement Service for Commodities. Paxos, a trailblazing regulated blockchain infrastructure platform, is now facilitating the simultaneous settlement of both cash and commodities trades, marking a historic advancement in the industry. As a key participant in the Paxos network, TD Securities is poised to leverage the platform’s capabilities to achieve fully automated settlement processes. This move is expected to bring unprecedented efficiency and operational streamlining to the realm of both traditional and digital precious metals trades. The significance of TD Securities’ adoption of the Paxos…
In a strategic move towards bolstering its digital offerings, US-based Valley National Bank has joined forces with FusionIQ to introduce a cutting-edge, cloud-based digital wealth management solution. What is this Bank-Fintech Partnership in the US? Valley National Bank has recently unveiled a collaborative effort with FusionIQ, a leading provider of cloud-based financial solutions. The partnership aims to revolutionize the bank’s wealth management services through the deployment of FusionIQ’s innovative Digital Advice platform. This cloud-native solution will empower Valley National Bank’s clientele with convenient and accessible wealth management options accessible via web and mobile platforms. FusionIQ’s state-of-the-art data analytics functionality is…
IDVerse, formerly known as OCR Labs Global, proudly announces its collaboration with Mastercard by becoming a key participant in the Mastercard Engage partner program. The focus of this partnership is to provide Mastercard customers with a cutting-edge, fully automated identity verification solution. What is IDVerse’s Solution? In a rapidly evolving digital landscape, IDVerse’s technology is set to revolutionize the accessibility of Mastercard services across a diverse range of connected devices. By actively addressing AI technology bias and embracing generative AI, IDVerse is championing inclusivity and combating discrimination based on race, age, and gender. This strategic move positions IDVerse at the…
In a move amplifying its commitment to diverse-led innovation, Truist Ventures has joined forces with Mendoza Ventures, injecting support into its $100 million Early Growth Fintech Fund. The partnership marks Truist Ventures as the third major financial institution backing Mendoza Ventures, alongside Bank of America and Grasshopper Bank. Mendoza Ventures, founded by a dynamic team of female and Latinx entrepreneurs, unveiled its third fund in January, with a strategic focus on nurturing early growth-stage startups championing diversity. Truist Ventures’ investment solidifies not only a financial partnership but sets the stage for active collaboration, knowledge exchange, and the pursuit of positive…
The U.S. Consumer Financial Protection Bureau (CFPB) is pursuing increased regulatory authority over technology giants, including Google and Apple, in their provision of digital wallet and payment applications, according to the Financial Times report. The CFPB has put forth a proposal aimed at subjecting non-bank tech companies offering digital payment services to regulatory frameworks akin to those governing traditional banks and credit unions. This move seeks to guarantee that the same consumer protection laws that apply to established financial institutions are also extended to the rapidly growing digital payment sector, which now caters to millions of users for fund transfers…
The way different countries handle their financial systems has long been a challenge for travelers and expatriates. Open banking is no exception, with regulations and accessibility varying significantly across the globe. In this exploration of open banking standards, we delve into the diverse approaches different nations are taking to mandate open banking, shedding light on the extent of their adoption and the similarities and differences in their implementations through this financial services industry thought leadership. Top 7 Open Banking Countries and Their Technologies 1. PSD2 (EU) The Payment Services Directive 2 (PSD2) is a comprehensive EU regulation governing electronic payment…
The financial landscape is undergoing a profound transformation as banks and credit unions are taking bold steps towards modernizing digital banking experiences through strategic partnerships with fintech firms and third-party solution providers. In a time where bank-fintech partnerships are leading the charge in modernizing the financial industry, traditional banks and credit unions are crafting a promising path towards a digitally-transformed future. These strategic alliances, featuring a spotlight on innovations like Buy Now Pay Later (BNPL) and the integration of Generative AI in the banking industry, are reshaping the landscape while embracing modern trends like the use of synthetic data and…
FinXP, a European payments and banking solutions provider, is pleased toannounce its strategic collaboration with Mastercard to introduce an innovative cross-border payment solution, named FinXP PLUS. By leveraging Mastercard’s Cross-BorderServices, FinXP shall be tapping into the extensive Mastercard network, thereby providingits global customer base with unparalleled access to a new range of payment possibilities. What is FinXP PLUS Solution? FinXP PLUS is set to modernize corporate cross-border payments by providing a proprietaryplatform that facilitates secure transactions to over 100 countries, supporting multiplecurrencies, including USD, GBP, EUR, CAD, CHF, TRY, PLN, SEK, DKK, NOK, PHP, COP, andmore. One of the standout…
The landscape of cloud-based coding is rapidly evolving, and a new player has entered the field, challenging the dominance of platforms like GitHub Codespaces. Daytona, the brainchild of the founders behind Codeanywhere, is set to revolutionize enterprise coding environments by providing a self-hosted solution that allows companies to manage their development processes entirely in-house. From Codeanywhere to Daytona Codeanywhere, which emerged in 2013, was akin to a “Google Docs for developers,” enabling collaborative coding from various locations through a web browser. Fast forward to 2023, and the team behind Codeanywhere is back with Daytona, applying their prior experience to a…
