Central Banks of Canada and Singapore conduct successful experiment for cross-border payments using Distributed Ledger Technology

May 2, 2019 Blockchain

        The Bank of Canada and the Monetary Authority of Singapore (MAS) have conducted a successful experiment on cross-border and cross-currency payments using central bank digital currencies. This is the first such trial between two central banks and has great potential to increase efficiencies and reduce risks for cross-border payments. Cross-border payments today are often slow and costly. They...Continue reading

RBS begins trial of card payments verified by fingerprint

April 26, 2019 Digital Banking

        RBS has today put the first biometric fingerprint card issued by a UK bank into use. The bank is piloting the technology with 200 customers as part of a three-month national trial. Customers use their fingerprint to verify transactions above the £30 contactless limit, increasing security and making it easier to pay for goods or services. The card...Continue reading

World’s Fifth Largest Bank Confirms Launch of MUFG Coin for 2019

April 15, 2019 Blockchain

        After months of speculation about its proposed release date, Japan’s largest bank, Mitsubishi UFJ Financial Group Inc. has finally announced plans to launch its long-awaited in-house digital currency. MUFJ President, Mike Kanetsugu revealed that the company plans to deliver the Coin before the end of 2019. According to Kanetsugu, MUFJ will lean on businesses including retail outlets and...Continue reading

Emirates NBD’s digital-only bank partners with US-based Kasisto to launch conversational AI chatbot

April 2, 2019 Digital Banking

        Liv., the lifestyle digital bank by Emirates NBD and the fastest growing bank in the UAE, has partnered with US-based Kasisto, the creators of the KAI Banking AI platform for finance to introduce Olivia, Liv.’s conversational AI (artificial intelligence) based chatbot. With the launch of Olivia, Liv. customers can get account information and insights on their spending as...Continue reading

NatSave and Mastercard sign strategic agreement to drive digital transformation and financial inclusion in Zambia

March 18, 2019 Digital Banking

        The National Savings Bank (NatSave) and Mastercard have signed a strategic partnership agreement, which will see the bank rollout Mastercard Chip and PIN prepaid and debit cards to provide its customers with a safer and more convenient alternative to transacting with cash. This is in line with the government’s goal of creating an inclusive and modernized digital payments...Continue reading

UOB to launch digital bank in Thailand

February 14, 2019 Digital Banking

        Singapore’s United Overseas Bank will launch its first ever mobile-only digital bank next week in Thailand, joining a swath of regional players that are coming out with offerings aimed at young and digitally savvy consumers in Southeast Asia. Called TMRW, UOB’s offering will initially comprise a transaction account, a savings account and a credit card. The Singapore bank...Continue reading

HSBC uses Blockchain to settle $250bn of FX transactions

January 16, 2019 Blockchain

        HSBC says its use of distributed ledger technology over the last year to settle more than three million foreign exchange transactions has proved a big hit. The bank has used its HSBC FX Everywhere platform to orchestrate payments across its internal balance sheets, making more than 150,000 payments worth $250 billion. Using a shared permissioned ledger, which provides...Continue reading

Mashreq Bank rolls out Samsung Pay

January 14, 2019 Payments

        Mashreq Bank, the UAE’s leading financial institution, has rolled out a service that allows customers to instantly add their credit cards to Samsung Pay via Snapp, enabling them to make easy, fast and secure payments. Aref Al Ramli, Head of Digital Banking and Innovation, Mashreq Bank said: “Mashreq Bank has always been at the forefront of the UAE’s...Continue reading

CBA launches Alipay in Australia

December 20, 2018 Uncategorized

        Leading payments technology in Australia, Commonwealth Bank will become the first major bank to provide Alipay to customers in store. With around 900 million users choosing to pay for goods and services globally via Alipay and its strategic partners, Commonwealth Bank today launched the payment app on its Albert touchscreen device. Alipay will be available for in-store payments,...Continue reading