Alibaba Group Holding Ltd (BABA, 9988.HK), JD.com Inc. (JD, 9618.HK) and Meituan (3690.HK, MPNGY) enjoyed their best trading days in years after the Chinese government announced measures to stimulate the troubled domestic economy. Consumer tech firms were swept up in a buying spree that extended across sectors on bets that Beijing’s wide-ranging new policies will […]
Working with JP Morgan’s blockchain unit Onyx, FAB completed time-based and threshold balance-based account funding into deposit accounts to execute a payment obligation. The partners say this opens up the possibility of a dynamic and automated funding and settlement solution to FAB and JP Morgan’s mutual clients. FB says traditional cash concentration structures often lack […]
Nvidia stock (NVDA) rose more than 2% on Wednesday after an industry report projected “unprecedented” levels of investments in artificial intelligence, a bullish sign for the AI chipmaker. Consulting firm Bain’s annual technology report published on Wednesday projects that companies will need to make “unprecedented levels of investment” in technology infrastructure to stay on top […]
The majority of UK firms are more inclined to play it safe when it comes to integrating technology reveals a new report from Consulting at Davies, the professional services and tech consulting firm. In its survey of 501 senior decision-makers within UK-based financial services companies, Consulting at Davies found that 59 per cent of firms are risk averse when […]
A look at the day ahead in European and global markets from Rae Wee Asian markets rallied on Thursday, defying weakness overnight on Wall Street as optimism over China’s latest stimulus measures got a fresh boost from news of a possible capital injection into its top banks. Authorities are considering a $142 billion infusion to […]
Commercial bank, Anadolubank Nederland N.V. is improving its compliance with EU Instant Payments regulation following a new partnership with payment services provider, Worldline. The new partnership will see Worldline provide Anadolubank with its cloud-based instant payments solution for five years, accelerating digital transformation while remaining compliant. Users will now be able to send and receive instant payments. Sheri Brandon, head of new […]
Chinese stocks made brisk gains on Wednesday, extending their stimulus-fueled rally to a second day, even as equities in the rest of the region struggled and crude oil retreated from a multi-week high. The dollar dipped to a fresh one-month low versus the euro and a 2 1/2-year trough to sterling after weak U.S. macroeconomic data overnight boosted the […]
While grilling Novo Nordisk’s chief executive over the price of its blockbuster diabetes and weight-loss drugs, Ozempic and Wegovy, on Tuesday, Sen. Bernie Sanders alleged that 40,000 people a year in the US could die if the company doesn’t make the medicines more affordable. “From a moral perspective, does it bother you knowing that keeping […]
2024 is proving another standout year for the regulatory space, finding itself under the spotlight, for better and worse reasons. This month, The Fintech Times will look at some of the biggest issues regarding compliance and financial rules, as well as the solutions hoping to ease the compliance journey for firms and make the fintech world fairer […]
Businesses in Latin America (LatAm) and the Gulf Cooperation Council (GCC) are rapidly looking to diversify their economies, seeking out partnerships with firms abroad. In doing so, businesses in both regions have realised the potential of working with one another. In fact, according to the International Trade Center, GCC countries exported goods worth $10.84billion to LatAm […]
Against a backdrop of continuing industry consolidation, community banks see digital payments as a key competitive weapon, according to newly released survey data from Bank of New York Mellon Corp. “Nearly 30% of those polled indicated that launching new technology services focused on efficiency and security, such as instant payments, are critical to maintaining a […]
Spanish lender to explore tokenisation and smart contracts in cross-border transactions as part of international Agorá initiative CaixaBank, Spain’s third-largest lender by market value, has been selected to participate in a global initiative to transform international payment systems through tokenisation and smart contracts. The project, named Agorá, is led by the Bank for International Settlements (BIS) and […]
