10 February 2016

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Deutsche Bank has become the latest financial services giant to call on its industry to hug the hoard of upstart fintech rivals close, concluding that co-operation, not competition, is the wisest approach in the business-to-business payments arena.

Rich Ricci, formerly CEO of Barclays Corporate and Investment Banking, is the latest in a growing list of financial services grandees to lend their business heft to a disruptive technology startup, joining currency exchange freemarketFX as chairman.

WorldRemit raises $45 million
Retail banking

WorldRemit raises $45 million

1 hour ago  | 0 comments | 1 tweets | 3 linkedin

UK money transfer service WorldRemit has raised $45m in financing from TriplePoint Venture Growth BDC Corp. and Silicon Valley Bank, taking its total funding to nearly $200m.

NAB rolls out origination platform
Retail banking

NAB rolls out origination platform

11 hours ago  | 0 comments | 2 tweets | 5 linkedin

In what it calls the biggest technology overhaul in its 123 year history, National Australia Bank (NAB) will this month begin rolling out a new origination platform for personal banking customers.

The Linux Foundation-led Hyperledger Project has signed up 30 founding members from the technology and financial services sectors, with several donating code to the effort to build a cross-industry open standard for distributed ledgers.

PayPal chief technology officer James Barrese is resigning, with his responsibilities being split between two company insiders.

Features and analysis

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Markit has acquired syndicated loan technology from JPMorgan in a bid to ease third party connectivity issues for market participants and shorten loan settlement timeframes. Financial terms were not disclosed.

Visa is to provide bank card issuers with an API to enable customers to set spending controls, receive transaction alerts and temporarily suspend their accounts with an on/off feature.

EBA Clearing has signed a letter of intent with Italian ACH SIA to develop a pan-European real-time payment system by the fourth quarter of 2017.

The ability to transfer funds using just a mobile phone number is growing in popularity in the UK, as national P2P service Paym reports a near-doubling in transaction volumes over the past six months.

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