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News/Transaction banking
Germany's Degussa Bank is to use a white-labeled direct API-based connection to local fintech startup Giromatch to provide clients with faster loan decisions and flexible re-payment terms.
21 February 2018
Marco Polo, a blockchain-based platform for open-account trade finance created by TradeIX and R3 in collaboration with leading global banks, is to move into a live pilot phase following a successful six month proof of concept.
Citi Ventures and PNC have made strategic investments in business-to-business payments and receivables software provider HighRadius. Terms were not disclosed.
15 February 2018
ABN Amro Clearing services is to offer a blockchain-based alternative to escrow accounts for money-management organisations that need to segregate and lock up client funds during the course of a transaction.
Cross-border payments network Earthport is betting on a market upturn driven by distributed ledger technology after reporting a doubling of losses for the six month period ended 31 December 2017.
ION Investment group is to acquire Openlink Financial, continuing a treasury management investment buying spree which has seen it swallow up IT2, Financial Software Systems and Wall Street Systems.
05 February 2018
Bank of America Merrill Lynch has partnered with PayPal to enable business clients to make cross-border payments in local currencies with just an e-mail identifier.
01 February 2018
Finastra has acquired Geneva-based eFX supplier Olfa Soft to capitalise on an ongoing shift to automated machine-to-machine electronic trading in currency markets.
30 January 2018
Having successfully tested the use of blockchain technology in oil trading last year, ABN Amro, ING and SocGen have completed a first agricultural commodity trade using their Easy Trading Connect prototype.
22 January 2018
Standard Chartered has created a new business unit, SC Ventures, to invest in promising fintech startups and accelerate innovation initiatives across the group.
17 January 2018
Banking cooperative Swift has signed an MoU with seven central securities depositaries (CSDs) to explore how distributed ledger technology (DLT) can be used to improve post-trade processes such as corporate actions, proxy voting and trade processing.
16 January 2018
The largest commercial bank in Russia, Alfa Bank, is developing a new digital cash service where all transactions will be transmitted and cleared via the blockchain.
15 January 2018
The industry body set up to promote the fintech sector in Scotland has named Stephen Ingledew as its first chief executive.
12 January 2018
As Finextra pulls the shutters down on 2017, we take a look back at our most popular news stories, videos, and community engagement activities over the course of the past year. The site will re-open for business on 2 January 2018.
22 December 2017
The research and innovation centre of the Italian Bankers Association, ABI Lab, is building a blockchain proof-of-concept to handle straight-through processing of interbank reconciliations over the R3 Corda platform.
19 December 2017
The UK online alternative finance market grew 43% in 2016 to reach £4.6 billion, buoyed by increased institutional investment and a sustained pick up in innovative business lending models.
11 December 2017
Nordea has become the ninth banking member of the we.trade consortium, which is building a shared platform that aims at making domestic and cross-border commerce easier for European companies by harnessing the power of distributed ledger technology.
05 December 2017
The final day of SOFE 2017 was dominated by the topic of cyber security. The closing plenary covered three key elements to this challenge: the evolution of the threat landscape, new technology and the evolution of Swift's Customer Security Programme (CSP), and the regulatory perspective.
04 December 2017
The future of money, how we use data and the dizzying advances in digital technologies dominated the opening discussions at the annual Swift Operations Forum Europe (SOFE) convention in Amsterdam.
30 November 2017
Cyber-crooks have significantly upped their game in the last 18 months, developing sophisticated new tools and techniques to hack into bank systems, warns a new report from Swift.
29 November 2017
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