Tag Archives: Bank

14Mar/23

Silicon Valley Bank: how interest rates helped trigger its collapse and what central bankers should do next

Charles Read, University of Cambridge

A former prime minister of Britain, Harold Wilson, is famous for remarking that a week is a long time in politics. But in the world of finance, it seems everything can change in just two days.

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13Mar/23

HSBC will acquire the assets of SVB UK. Deposits will be protected

Here’s the HM Treasury statement:

Silicon Valley Bank (UK) Ltd has today been sold to HSBC. HSBC is headquartered in London, is the largest bank in Europe and is one of the world’s largest banking and financial services institutions, serving 39 million customers globally. Customers of SVB UK will be able to access their deposits and banking services as normal from today.
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09Mar/23

Lloyds Banking Group invests £10 million in digital identity company Yoti

Lloyds Banking Group has invested £10 million in digital identity company Yoti, an investment which supports the development of innovative technology to keep people safe online, tackle the ever-growing risks of identity fraud, and give people more control over their personal data. Continue reading

28Dec/22

Japanese fintech leader Smartpay first to launch the next phase of digital consumer finance through open banking

Japan-based fintech Smartpay has launched Smartpay Bank Direct, the country’s first digital consumer finance service that allows customers to pay for online installment purchases straight from their bank accounts. Smartpay Bank Direct emphasizes user security while delivering convenience for the consumer, through a network of 67 partner banks across Japan[1]. Smartpay is Japan’s first digital consumer finance company to utilize Japan’s open banking system. Continue reading

09Dec/22

79% of risk pros prioritize credit risk transformation in race to digitalize banking

Regulatory demands, calls for greater transparency and accessibility, plus customers jumping ship to more agile fintech counterparts – banks are feeling pressured to enact a digital revolution, according to risk professionals on the ground. A key pillar of this modernization, credit risk transformation (CRT), is the focus of a new risk technology study by the Global Association of Risk Professionals (GARP) and analytics leader SAS. Continue reading

06Oct/22

Banking in 2035: Trust, climate risks and geopolitical rivalry shape a purpose-driven industry, forecasts study

As disruptive forces roil today’s financial sector, banking execs are scrutinizing the evolving role of banks in the most competitive market they’ve ever faced. What does the future hold? And how can they meet the challenges ahead to forge a brighter future – both for the industry and the greater world? Such is the focus of a new future of banking study, Banking in 2035: three possible futures, by Economist Impact and sponsored by AI and analytics leader SAS. Continue reading

02Sep/22

Flutterwave Secures Switching and Processing License, Nigeria’s Highest Payments Processing License

Flutterwave, Africa’s leading payments technology company has been granted a Switching and Processing License by the Central Bank of Nigeria (CBN)—widely regarded as CBN’s most valuable payments processing license. This license allows Flutterwave to offer transaction switching and card processing services to customers. Others include non-bank acquiring, agency banking and payment gateway services. Continue reading

01Jul/22

GoCardless to acquire open banking platform Nordigen, combining broad open banking connectivity with bank payment expertise

GoCardless, the global leader in direct bank payments, has announced its plans to acquire Nordigen, the freemium open banking data provider, as it builds on its vision to become the world’s bank payment network. GoCardless will incorporate Nordigen’s next-generation open banking connectivity — offering the widest coverage in Europe, connecting to more than 2,300 banks in 31 countries — into its account-to-account network. Continue reading