Federal Reserve cuts interest rates by a quarter point

WASHINGTON — The Federal Reserve approved its second consecutive interest rate cut Thursday, moving at a less aggressive pace than before but continuing its efforts to right-size monetary policy. In a follow-up to September’s big half percentage point reduction, the Federal Open Market Committee lowered its benchmark overnight borrowing rate by a quarter percentage point, […]

NatWest Transitions to Bankline Direct Digital With Capco to Accommodate Changing Consumer Needs

UK bank NatWest is partnering with Capco, the management and technology consultancy, as part of efforts to ensure a smooth transition for its systems and clients as the financial industry moves to adopt ISO 20022 for payments and reporting. Through its collaboration with Capco, NatWest is transitioning to Bankline Direct Digital, the strategic ISO 20022-compliant cloud-based architecture behind Bankline […]

California revokes BlockFi’s lending license 2 years after bankruptcy

The California Department of Financial Protection and Innovation (DFPI) permanently revoked the license of collapsed cryptocurrency lender BlockFi two years after its bankruptcy. Announcing the news on Nov. 7, California’s DFPI said the license revocation came after an examination by the regulator following a suspension of BlockFi’s license in November 2022. BlockFi entered into a settlement agreeing to the license […]

MEX Global Launches Cash Deposit and Withdraw Services in UAE Through Al Ansari Exchange Branches

MEX Global, a subsidiary of MultiBank Group, the global financial derivatives institution headquartered in Dubai, has launched cash payment services to enable UAE-based clients to easily deposit and withdraw funds. Through a partnership with Al Ansari Exchange, a personal remittance and foreign exchange company in the UAE, MEX Global is enabling its clients to deposit […]

NatWest and Mastercard Launch Mobile Virtual Card Solution for Business

UK bank NatWest has partnered with payments giant Mastercard to launch a new mobile virtual card payment solution for business, Approval2Buy with Mobile Virtual Cards.  Becoming the first service in Europe to leverage the Mastercard mobile virtual card app, NatWest plans to enable companies to provide virtual cards to their employees for use worldwide. With the new solution, it […]

Asia-Pacific markets mixed in choppy trading after Trump victory

Asia-Pacific markets were mixed Thursday after former President Donald Trump won the White House, defeating Vice President Kamala Harris in the 2024 presidential election. NBC News projects that Trump will win at least 291 Electoral College votes, including key swing states of Pennsylvania, North Carolina and Georgia. Japan’s Nikkei 225 reversed gains to lose 0.25%, but the broad based Topix was up 0.95%. […]