This week’s roundup will feature titles on digital currency, investment in stocks and cash protection. Join us and Unlimit BaaS’ Managing Director, Jovi Overo in the exploration of some of the biggest headlines of our industry.
- Barclays Bank has invested £3m in Trade Ledger for a new platform to provide end-to-end credit management automation for Barclays Corporate clients. The Trade Ledger Platform will make lending decisions more efficiently and quickly to enhance the bank’s operations. [source: Tech Market View]
The new platform will simplify processes and increase efficiency through automation and technology. Should the launch be successful, businesses’ call for more reliable and flexible finances will be answered, as the platform will bring faster processes that improves efficiency. It is unsurprising that we are seeing more financial institutions trying to automate processes to reduce costs and time. As pressures on the banks continue to grow, fintech solutions are plugging the gap and offering simple integrations which transform products, services, and operational processes. – Jovi
- Hong Kong and UAE central banks are collaborating on crypto rules and fintech development to promote knowledge-sharing and strengthen cooperation. [source: CoinTelegraph]
Alignment of financial services is key to creating better interoperability and simplifying market connectivity. The cooperation between the UAE central banks and Hong Kong will bring a wealth of trade opportunities and the potential for faster cross-border transactions. As the popularity of digital currencies increases, collaboration to ensure regulations and opportunities for implementation will be key to their success. – Jovi
- A study from NordVPN of the Dark Web revealed that the UK is Europe’s biggest victim to card fraud; closely followed by America and India. 63% of Brits have their card data listed, along with details such as addresses, NI numbers and phone numbers. [source: Finextra]
Whilst cybercrime and fraud are no longer a surprise, the statistics in front of us are shocking. The number of physical cards being stolen may be lowering, however data is being collated online and used in methods of chargeback fraud, online identity theft, and beyond. Financial technologies, such as AI, AML, MFA, and encryption, are continually evolving to combat fraud, even from the point of early detection. These solutions will help to identify fraud and stop transactions before settling to protect both merchants and businesses. – Jovi
See you next week, back in the blog for your next weekly news roundup.
