Jan. 11, 2025 /Mpelembe Media/ — nsave, a fintech company founded by former Rhodes Scholars, launched an investment platform offering safe, compliant overseas accounts and investments to individuals in high-inflation economies. This platform provides access to US equities, ETFs, and soon, funds, aiming to protect and grow wealth for those facing financial exclusion. Continue reading
Jan. 7, 2025 /Mpelembe Media/ — New research from the UK reveals that a significant portion of the British public is keeping cash on hand due to concerns about banking IT failures. One in four Brits report this behaviour, highlighting a growing distrust in digital banking systems. Concerns centre on the frequency of IT outages and the potential for data breaches, impacting consumer confidence. The research underscores the need for banks to improve IT security and transparency to reassure customers. Continue reading
China’s first digital-native bank, WeBank, and global management consulting firm Oliver Wyman have jointly launched a new report titled “Global Digital Banking: Development and Innovation Trends”. The report offers an in-depth analysis of the development of global digital banks and insights into the future trajectory and competitive landscape of the industry. Continue reading
Google Cloud announced today a new collaboration with Moniepoint, an Africa-focused business banking platform that provides financial services to Nigeria’s underbanked businesses residing in remote areas and communities. The collaboration makes financial services accessible at scale to millions of small and medium sized enterprises (SMEs) by bridging the banking gap in suburban locations. Continue reading
New York, May 1, 2023 – The U.S. banking crisis that began in March 2023 was the result of a number of factors, including:
The collapse of Silicon Valley Bank: Silicon Valley Bank was a large regional bank that specialized in lending to technology companies. The bank’s collapse in March 2023 was a major blow to the banking industry and shook confidence in the financial system.
Central banks are faced with the ongoing debates – Should retail and wholesale clearing and settlement of CBDC payments be separated? The differentiation doesn’t matter to the average citizen user. Their primary concern is to have a straightforward, secure, and all-encompassing solution that enables them to transfer value easily and affordably, regardless of their access to a bank or mobile/internet connectivity. Continue reading
April 25, 2023 /Finance/ — Open banking is a financial services term for the practice of allowing third-party financial service providers to access customer data held by other financial institutions, through the use of application programming interfaces (APIs). The goal of open banking is to promote innovation and competition in the financial services industry by giving consumers more choices and control over their financial data. Continue reading
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.
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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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