The BCC expects the UK economy to plunge into recession before the end of 2022, with inflation spiking to 14% and lingering weakness in growth expected to continue into 2024 UK Economic Outlook – 2022 The British Chambers of Commerce (BCC) has again downgraded its expectations for UK GDP growth for 2022 to 3.3% (from 3.5% in Q2) against […]
Upgrading the UK’s ageing payments infrastructure and increasing real-time payments adoption are forecast to boost the UK economy by $3.8bn – 0.11% of formal GDP – by 2026, according to a new study published by ACI Worldwide, (NASDAQ: ACIW), Global Data, and the Centre for Economics and Business Research (Cebr). According to the Cebr, the […]
Almost two thirds of regulated firms believe hard copy documents provide reassurance a customer is genuine, latest anti-money laundering data has revealed. Despite questions of validity, nearly half of all firms questioned still use hard documents like passports, IDs and utility bills in some way to verify new business customers, despite more than 83% being […]
imagin, CaixaBank’s digital services and lifestyle platform, has reached 4 million users in its second year of activity, equivalent to a growth of 36% if compared to June 2021. The platform is a leader among the main neobanks and fintechs, with a market share of 12.9% in Spain, according to data from Smartme Analytics. Additionally, […]
Shanghai Commercial & Savings Bank (SCSB), one of the listed banks in Taiwan, has selected Temenos and IBM to replace its legacy core systems with Temenos open platform for composable banking. Part of the IBM Ecosystem, Temenos and IBM have successfully teamed for decades to help financial institutions around the world deploy next-generation banking technology, […]
Assetz Capital are delighted to announce a partnership with LexisNexis Risk Solutions to adopt the LexisNexis® RiskNarrative™ platform across its business. The platform leverages automation, AI and machine learning to provide a market-leading, sophisticated, configurable and accessible financial crime lifecycle management solution. This will allow Assetz Capital to further enhance their KYC and AML detection […]
More than 80% of regulated firms in the legal, property and finance and banking sectors are considering a switch to electronic verification of their customers, new data shows. The “big switch” to technology comes as firms feel the growing weight of compliance around anti-money laundering (AML) and sanctions regulations – amid a sharp increase in […]
Temenos (SIX: TEMN) today announced that Bank of Queensland (BOQ) has gone live with retail banking services on Temenos Banking Cloud for customers served under the BOQ and Virgin Money brands. Work has commenced on the migration of BOQ’s ME brand to Temenos Banking Cloud. Using Temenos cloud-based platform enables BOQ to offer superior customer […]
The digital transformation market – forecast to be worth $1.25tn by 2026 – is driving activity across the sector according to ICON Corporate Finance, the tech-focused investment bank. Cloud, collaboration tools, hybrid working, cybersecurity, supply chain management, AI, and crypto tech are all strategic priorities for organisations mid-2022. While digitalisation dominates, ICON predicts ongoing resilience […]
Vyne, the specialist pay with bank account-to-account (A2A) payments platform, today launches its SME proposition via a new partnership with Wix.com Ltd. (Nasdaq: WIX), a leading global SaaS platform to create, manage and grow an online presence. The partnership will give Wix’s UK based merchants access to Vyne’s open banking payments infrastructure, enabling them to offer their […]
