Archive for April 2019
Modulr strikes deal with accounting giant Sage
Accounting technology group Sage has partnered with payments fintech Modulr to help clients improve their management of accounting and payroll payments. The deal means businesses will be able to process salary and supplier payments within Sage accounting and payroll products Sage’s. Seamus Smith, executive vice president of global payments and banking at Sage, said improving…
Read MoreSwift opens registry to corporate members
Interbank network Swift is opening its Know Your Customer (KYC) Registry to corporates, allowing them to exchange data and documents with banking partners, gain efficiencies and prevent duplication. From the fourth quarter of 2019, all of Swift’s 2,000 corporate groups will be able to join the KYC Registry, which already includes 5,100 bank members. “Corporate…
Read MoreChinese e-commerce group chooses Accuity compliance
Chinese e-commerce payments firm Skyee has appointed global financial crime group Accuity to improve and streamline its compliance screening. Skyee will use Accuity’s Firco Compliance Link, a service which meets international regulatory standards on customer authentication and financial crime screening. “As a pioneering service provider of cross-border payment solutions, Skyee is committed to eliminating illicit…
Read MoreBarclays announces payments tie-up with SAP
Barclays has announced a strategic partnership between its Barclaycard Commercial Payments division and enterprise software firm SAP UK. Barclaycard will integrate its B2B payment product, Precisionpay, into SAP’s global supply chain management platform Ariba. It will be the first product to launch on the Ariba Network, aiming to “combine the perks of card payments for…
Read MoreBanks change tack on approach to tech M&A
Traditional banking groups now consider the acquisition of new technologies as justification for mergers and acquisitions (M&A), and are adjusting how they assess deals, according to research from consultancy Accenture. The report, Riding the Consolidation Wave: Navigating the Next Wave of Consolidation, is based on a survey of global banking institutions from around the world…
Read MoreClearBank lands £60m to improve SME banking
ClearBank has been awarded a £60m grant by the RBS Alternative Remedies package to improve business banking for small and medium-sized enterprises (SMEs). The grant is part of a £775m package backed by the UK Government and overseen by Banking Competition Remedies, the organisation established to stimulate competition in the banking sector. Awards have been…
Read MoreThe maturity of the UK lending market
Open access to customer risk data should mean better customer choice and safer lending decisions. How will that change the financial landscape in the coming years? Joe McGrath investigates.
Read MoreGlobal Perspectives on Open Banking: Africa Focus
Financial exclusion is real and is much more than not being able to pay. According to the European Investment Bank, as of 2017, 66 per cent of adults in Africa did not have access to financial services, many of which have the potential to transform their lives. It is no surprise that financial exclusion correlates…
Read MorePreventing fraud in an open world
Throughout history fraudsters have been quick to exploit technological advances. Open Banking is no different. So how can organisations ensure they aren’t opening the door to criminal activity, asks Jennifer Turton… March 2019 may be the month that will be remembered for the Brexit deadline but, in the world of Open Banking, it is also…
Read MorePSD2: How soon is now?
The onset of PSD2 made 2018 a pivotal year for European banks, but it won’t be until later this year that the regulations grow some teeth. Geordie Clarke asks: will it achieve its intended result? It’s crunch time for European banks as far as Open Banking is concerned. In the months following the introduction of…
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