The implementation of Avaloq’s cutting-edge digital asset platform at Zürcher Kantonalbank (ZKB), one of Switzerland’s leading banking institutions, marks a significant step towards embracing digital innovation in the financial sector. In collaboration with Fireblocks, this development is not just a response to the increasing market demand for trading and securing digital assets; it also underscores the broader trend of traditional
The landscape of the financial services industry is being transformed by embedded payments, a trend that holds significant promise for advancing financial inclusion globally. This report delves into the current state of the industry, examining emerging trends, analyzing data, and offering forecasts on the future of embedded payments and their role in promoting financial inclusion. Current State of the Industry
The growing interest in artificial intelligence (AI) in financial services is met with significant challenges as finance teams struggle to harness the potential of real-time data efficiently. There are enough hurdles faced by finance professionals and the expected benefits of integrating AI into their operations. A staggering 91% of finance professionals find it difficult to derive actionable insights from their
The financial landscape in Canada is ripe for transformation, especially within the B2B payments sector. Paystand, an innovative company specializing in blockchain-enabled B2B payments, is set to revolutionize this space with its zero-fee payment network. Expanding its platform to fully serve Canadian businesses, the implications are vast—from improved cash flows to reduced transaction fees. Expansion of Paystand’s Services in Canada
Mastercard, a global leader in financial services, has announced a strategic partnership with Barq, a notable Saudi Arabian fintech startup. This collaboration marks a significant milestone in the journey toward modernizing digital payments in the Kingdom of Saudi Arabia, employing Mastercard’s advanced Gateway technology. By leveraging such sophisticated technology, this initiative aims to provide faster and more secure payment solutions,
Visa has launched an ambitious initiative called Visa A2A aimed at transforming account-to-account (A2A) payments. Expected to debut in the UK by early 2025, Visa A2A promises to offer greater consumer control and security when handling recurring bills via bank transfers. By implementing innovations like tokenization, biometrics, and AI-driven fraud prevention, Visa seeks to modernize the outdated direct debit system
In an effort to bridge the advice gap and bolster its digital advisory services, Quilter has acquired the digital investment app NuWealth, formerly known as Wombat Invest. Quilter, a leading wealth management firm, sees this acquisition as a key advancement in serving novice investors and meeting the growing demand for digital engagement. NuWealth provides a diverse range of ISAs, general
The UK is witnessing a concerning surge in fraud and scam cases, breaking all previous records in 2024. Authorized push payment (APP) fraud is at the forefront of this alarming trend, a deceptive scheme tricking individuals into authorizing payments to fraudsters posing as legitimate entities. Alarming Surge in Fraud Complaints Significant Increase in Reports Between April and June 2024, an
AI is transforming the Exchange-Traded Fund (ETF) industry, providing a wealth of products that cater to various investment styles and risk profiles. Since ETFs were introduced in the early 1990s, they have grown in value to trillions, becoming vital components of modern financial markets. As AI continues to evolve, its role in ETF management and investment strategies is becoming increasingly
Siemens AG’s strategic move to issue a €300 million blockchain-based digital bond underscores its dedication to innovation and its partnership with key financial entities to revolutionize capital markets. This initiative not only showcases Siemens’ resolve to harness advanced technologies but also highlights the company’s role as a pioneer in the financial technology sector. Siemens’ Digital Transformation Strategy Commitment to Innovation
The cryptocurrency market has recently been in turmoil, with major digital assets like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) experiencing significant declines. Investors and enthusiasts alike are grappling with a myriad of factors contributing to this slump. Understanding the underlying reasons behind this downturn, including historical trends, macroeconomic influences, market sentiment, and technical indicators, can provide valuable insights into
The financial technology landscape witnesses a significant transformation with the collaboration between Enfuce and Saldo Bank. This partnership, aimed at introducing Saldo Bank’s first payment card products, marks a strategic move to accelerate growth and offer innovative financial services in the Nordics and the Baltics. Saldo Bank’s entry into the payment services sector, bolstered by Enfuce’s advanced issuer processing technologies,
