A consortium of 15 Japanese banks are to work with blockchain joint venture SBI Ripple Asia, to build a new payments platform promising round-the-clock real-time settlement for cross-border and domestic funds transfers.
Swift is to push the gospel of global interoperability for the ISO 20022 messaging standard to the very top of the payments food chain with the formation of a High Value Payment taskforce comprised of global banks and major market infrastructure providers.
United Overseas Bank is training more than 100 commercial bankers on alternative financing as it deepens support for startups through its recent $10 million investment in equity crowdfunding platform OurCrowd.
Blockchain technology will fundamentally alter the way financial institutions do business, according to a report from the World Economic Forum.
Bank of America Merrill Lynch, HSBC and the Infocomm Development Authority of Singapore have claimed success in demonstrating the application of distributed ledgers to replace paper-based Letters of Credit in trade finance transactions.
Innotribe, the innovation arm of Swift, is expanding its capacity at the messaging co-operative's annual Sibos jamboree by 50%, but don't expect any chat about distributed ledger technologies, which has now been swallowed up by the mainstream event.
Visa, MasterCard, WorldPay and others in the payments sector can relax: Bitcoin will remain a niche player and blockchain technology poses little risk, according to a new report from Credit Suisse, which has less comforting news for Swift.
MasterCard and PayPal have engaged in a "constructive dialogue" about a possible strategic alliance, according to a report in the Financial Times.
Standards have the potential to strengthen and speed up fintech development in the UK, according to a paper recently published by BSI.
Spanish bank Banco Bilbao Vizcaya Argentaria (BBVA) is set to embark on a second management reorganisation within 14 months in anticipation of a further push of its digital banking plans, according to Bloomberg.
The Payment Systems Regulator (PSR) has called for an overhaul of the UK's payments infrastructure to generate more competition and meet consumers' needs.
© Finextra Research 2016