Hungary’s MKB Bank Goes Fully Digital with Oracle

July 18, 2018 Digital Banking

        MKB Bank, Hungary’s fourth largest commercial bank has today announced it is the first in the country to take a leap towards digital and open banking after transforming its entire technology system. Its transformation has included a full replacement of its core banking system, the retirement and consolidation of roughly 10 additional systems, and the modernization of its...Continue reading

World’s Largest Bank Eyes Faster Asset Exchange With Blockchain

July 10, 2018 Blockchain

        The Industrial and Commercial Bank of China (ICBC), one of China’s “Big Four” state-owned commercial banks and one of the world’s largest by total assets, is seeking to patent a blockchain system for the exchange of financial assets. According to a patent application filed by the bank in January and revealed on Friday, the system envisions a platform...Continue reading

New digital bank launches in Australia

July 2, 2018 Digital Banking

        British banking pioneer Anthony Thomson, the entrepreneur who co-founded the successful Metro Bank in the wake of the GFC (the UK’s new high street bank in 150 years), and in 2014, the country’s digital bank, the now publicly listed Atom, has set his sights on Australia with a new digital challenger bank. Banking startup 86 400, will launch...Continue reading

Standard Chartered appointed by Ant Financial as core partner bank for its new blockchain cross-border remittance service

June 27, 2018 Blockchain

        Standard Chartered announced that the bank has been appointed by Ant Financial to be the core partner bank for its new blockchain cross-border remittance solution. Aimed at enhancing financial inclusion globally, the fast, secure, convenient, transparent and low-cost remittance service will be first available in Hong Kong and the Philippines. This will be the first blockchain-based cross-digital wallet...Continue reading

HSBC strikes back in mobile payment war, lifts PayMe monthly top-up limit to HK$50K

June 20, 2018 Digital Banking

        HSBC plans to increase the top-up limit of its e-payment app PayMe by 10 times to HK$50,000 (US$6,370) as early as this week, at it prepares to expand the app’s purchase utility among merchants this year, the bank said. The biggest bank in Hong Kong will also allow customers to transfer money from their personal bank account with...Continue reading

Digital instant account opening at OCBC

June 6, 2018 Digital Banking

        OCBC Bank is rolling out a digital instant account-opening service for customers who are Singaporeans or permanent residents. The bank will make use of national data repository MyInfo as well as its own online know-your-customer process(e-KYC). This will allow customers to open an OCBC 360 Account using their mobile or desktop devices, the bank said yesterday. “It all...Continue reading

Bank of England reopens the possibility of bank-run cryptocurrency

May 29, 2018 Blockchain

        The Bank of England has not closed the door on a central bank-issued cryptocurrency, despite announcing such a decision earlier this year. Mark Carney, the governor of the Bank of England, speaking on a panel in Stockholm on the future of central banks, said he would consider a digital currency issued by the central bank but that it...Continue reading

HSBC Completes World’s First Blockchain Trade Finance Transaction

May 15, 2018 Blockchain

        Financial services group HSBC said on Monday it had for the first time utilised blockchain technology to complete a speedy commercial trade finance transaction that normally takes around a week using normal paper-based processing mediums. The transaction was the first time that a blockchain – the technology which powers cryptocurrencies such as bitcoin – has been used for...Continue reading

Dubai Holding to launch digital bank in the UAE

May 8, 2018 Digital Banking

        Dubai Holding, the global investment holding company, has announced it will invest up to AED 1 billion over the next five years to launch a next generation digital bank for the UAE, with plans to expand services across the Middle East and North Africa region. This announcement is in line with UAE’s goal of becoming a cashless digital...Continue reading