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Open Banking in the UK has been progressively building momentum in the four years since its launch. There are now over five million regular users, with 2021 seeing a 60% increase in new customers - making it Open Banking’s most significant growth period to date. But that hasn’t stopped murmurs from the sceptics. To quote one neobank boss, “custom...
21 February 2022 /payments /predictions Open Banking
Geopolitical tensions such as at the Russian-Ukrainian border have thrown sanctions risk management challenges into the spotlight in recent months. Foreign policy responses to crises of this kind usually involve a fresh package of sanctions requirements. Sanctions risk management is going to become ever more complicated, as the world takes a step ...
21 February 2022 /regulation /crime Exposing Financial Crime
We hear a lot about independent workers these days: people leaving their 9-to-5 jobs to go freelance, taking up gig work after hours, or seeking out alternatives to traditional employment. But does anyone think about how they do their banking? Do banks consider how the current 68 million independent workers — which are expected to reach 90 million ...
18 February 2022 /retail /startups Fintech API Practitioners
For a while now, you might have heard the term “Stablecoin” becoming the next candidate for digital currency. This statement got traction since the value of cryptocurrencies – Bitcoin, in particular, experienced a huge dip in its exchange rate since the latter half of 2021. Other cryptocurrencies are also having a decline in their exchange rate,
15 February 2022 /crypto Blockchain Observations
The last two years have been tumultuous for nearly everyone. From mandated closures, lockdowns, anxieties around health and work, and well… the general state of the world, things have not been easy. This is especially true for small and medium businesses, who have not only had to deal with all of this, but also worries about whether their business...
15 February 2022 /startups /predictions Trends in Financial Services
The Financial Services Industry has gone through a rapid and significant digital transformation journey in the financial year 2020-21 viz. Digital Adoption, Cognitive Automation, Conversational Servicing, Video KYC, and open banking etc. The need for digital technologies is gaining momentum in the financial services industry and innovation is goin...
11 February 2022 /retail /predictions Innovation in Financial Services
Although you might have heard a lot of technical jargon when talking about the metaverse, such concepts have been around for a long time through various games. If you are a long-time gamer, the chances are that you might have already experienced some of it before. This blog gives a brief on how and why the metaverse will be a part of the future w
11 February 2022 /crypto Artificial Intelligence and Financial Services
In January this year, TheCityUK, an advocacy group promoting financial and professional services, warned that cyber attacks were “the single biggest risk” businesses face, while research from the British Chambers of Commerce (BCC) found that one in ten companies had been the victim of a cyber-attack in the last year. Nowhere is this threat more ke...
11 February 2022 /payments /crime Banking Strategy, Digital and Transformation
Anyone who has been on the London Underground in the past few years cannot have failed to notice the exhortations to invest in BitCoin, or the next big meme coin, as this freedom of information request shows. Social media is awash with celebrities and influencers flogging crypto, something that had already caught the attention of the UK's financi...
10 February 2022 /regulation /crypto Cryptocurrency Insights
Crypto-native and crypto-curious businesses are creating a massive demand for transactions that simply isn’t being met by the traditional banking sector. The banking sector has historically done a pretty good job of taking care of transactions. While cash still reigns supreme in emerging markets such as India or Indonesia, most payments in mature ...
09 February 2022 /payments /crypto Cryptocurrency Insights
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