It will be regulation-led, but make no mistake: 13th January 2018 will see the start of a deep-rooted and long-term transformation of the European payments market. This is when PSD2, the new European Directive on Payment Services in the Internal Market, comes into force, and both financial institutions and fintech firms need to ensure now that they will be PSD2-ready, says Shahrokh Moinian, global head of cash products, cash management, Deutsche Bank
The UK online alternative finance market grew 43% in 2016 to reach £4.6 billion, buoyed by increased institutional investment and a sustained pick up in innovative business lending models.
Commerzbank is looking to make savings by transferring its securities settlement operations to a new joint venture with HSBC Transactions Services.
Chase has opened a pop-up shopping mall at the World Trade Centre complex in Manhattan in an effort to encourage consumers to try out its under-performing proprietary mobile wallet Chase Pay.
There are huge opportunities associated with blockchain technologies, which could change the financial sector in a sustained way, according to a Deutsche Bank report which is less sold on the potential of cryptocurrencies.
Southeast Asian ride-hailing app Grab has obtained regulatory approval to launch its mobile payment service in Malaysia.
Poland's Alior bank is stepping up its digital transformation strategy with the establishment of a fintech department, startup accelerator and Open API platform.