The World Economic Forum (WEF) has stepped into the crypto fray and is canvassing central banks to determine their involvement in blockchain developments. The WEF was founded in 1971 as a not-for-profit organization in Geneva, Switzerland, with the express mission of improving the state of the world. Per its website: The Forum engages the foremost…
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The Financial Conduct Authority (FCA) has just announced that it intends to change how banks charge for overdrafts. Alongside this, the FCA will extend protections for other high-cost credit products. Andrew Bailey, Chief Executive of the FCA commented: Today we are proposing to make the biggest intervention in the overdraft market for a generation. These…
Read moreBanks need to get their IT investment priorities in order now given the rising risk of fintech disruption, according to analysts at US based investment banking giant Morgan Stanley (NYSE:MS). The clock is ticking for banks, with new entrants able to provide banking services up to 50% cheaper, in part thanks to legacy-free IT,” Morgan Stanley's…
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Venezuela introduced its state-backed cryptocurrency, the petro and now the President of the country has ordered all banks to adopt the new digital currency as of this past Monday. Venezuela is suffering from a huge economic and political crisis, with the US sanctions coming in force with hunger and even water crisis in the capital.…
Read moreChicago Board Options Exchange (CBOE) announced today that it has launched the CBOE-SMA Large Cap Index (SMLC Index), the first of a series of sentiment-based strategy benchmark indexes that measure short-term market momentum based on Social Market Analytics’ (SMA) social media metrics. CBOE announced in June that it entered into an exclusive licensing agreement with SMA…
Read moreFirst Central Counterparty Clearing House (CCP) to use standardised MX messages over SWIFT to notify clearing members of margin calls.
Read moreLeapRate discusses Saxo Bank’s revolutionary “SaxoTraderGO” and “OpenAPI” with the firm’s Vice President and Head of Platforms Christian Hammer on full customization, empowering clients and white label partners to develop their own platform functionalities, and how device neutrality opens up a whole new world for banks and developers alike
Read moreAlongside enabling a fraud free and chargeback free Bitcoin payment environment for merchants, Coinzone’s solution also gives consumers access to a simple and secure payment process that reveals no sensitive information
Read moreKPMG has stated that Britain's five largest banks must work harder to maintain sufficient profits to ensure low shareholder returns are tackled
Read moreBritish Chancellor of the Exchequer George Osborne will no longer allow banks to write the cost of penalties for market abuse or mis-selling down against tax, a move which will raise over £5 billion in tax revenue by 2020
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