Global transaction banking revenues are set to nearly double over the next ten years, reaching $2 trillion by 2024, according to a report by the Boston Consulting Group in conjunction with financial messaging network Swift.
Banks must embrace fintech companies or risk being left behind as the payments landscape undergoes a radical technological overhaul, according to a new report from BNY Mellon.
China's cross-border interbank payments system, established as a yuan-based alternative to the interbank Swift network, has launched with 11 domestic banks and eight foreign institutions onboard.
Digital currency network Ripple has topped up its $28 million Series A funding round with an additional $4 million investment from Santander InnoVentures.
The UK's Barclays Bank has released a purpose-built online banking hub that provides corporate customers with a single gateway to all of the bank's business services.
Nine of the world's largest banks are backing an initiative to create a set of global standards for the use of distributed ledger technology in financial markets.
Trade association Payments UK has vowed to improve access to payments infrastructure and give customers more control over transactions as part of a drive to ensure Britain has a "world class" system.
UK-based payments network Earthport has opened a distributed ledger gateway for bank clients to process real-time cross border payments via the Ripple protocol.
MarketInvoice, a P2P platform for small business lending, has raised £6 million in its first round of financing as part of an effort to attract retail investors.
Wells Fargo is to pilot a fusion of voice and face biometrics to authenticate mobile users of its Commercial Electronics Office (CEO) portal.
Six European ACHs have formed a joint venture to process payments in the single euro payments area (Sepa) from a shared service platform.
© Finextra Research 2015