Energy market might beat banking onto blockchain
Moody’s analyzed in April the potential downside for investors in bank bonds if blockchain technology becomes widely adopted and reduces the cost and time taken up in executing cross-border banking transactions. Colin Ellis, managing director in credit strategy, concedes: “Banks...
Fintech: Deposit Solutions shows potential of open banking
Caroline Plumb, founder and chief executive of Fluidly, a cash-flow modelling provider for small and medium-sized enterprises (SMEs), sounded a little disappointed at the Innovate Finance Global Summit in London. “People were talking about this big-bang moment when the world...
Ukraine’s parliament blocks bank reform
Vitaly Vavryschuk, head of financial stability at the National Bank of Ukraine Ukraine’s parliament has dealt a blow to banking sector reform efforts by striking down a draft law designed to tackle corruption and weak governance at the country’s state-owned lenders. The...
Techcombank highlights booming Vietnam IPO market
April brought Vietnam’s biggest ever IPO, but in a market that is finally delivering on its promise after years of disappointing investors, the Techcombank listing might only hold its record for a matter of weeks. Vietnam Technological and Commercial Joint...
Banking: Australia demands change
Three weeks ago Australia’s new bank startup Xinja became the first financial institution in Asia Pacific to raise equity through crowdfunding. The amounts raised were not earth-shattering – just under A$2.5 million from 1,222 investors putting in as little as...
Payments companies look into China with caution
China is seeing a sea-change in how its consumers are making purchases. At the beginning of the year, Alipay reported that 82% of payments made on its channel in 2017 had been made using a mobile device. The company has...
UOB joins forces with Chinese fintech
Singapore’s UOB has become the latest bank in Asia to try to harness the runaway success of Chinese fintech players. In April, it announced a new business called Avatec, a joint venture between UOB and China’s Pintec Technology Holdings. It...
Belt and Road: The debt threat
On April 12, IMF managing director Christine Lagarde ruffled feathers in Beijing by warning China not to laden Belt and Road recipient countries with unsustainable debt loads. She was in Beijing to speak at a conference and, nominally, to announce...
Obituary: Russell Julius, 1960-2018
It was the hair you noticed first, as jumbled as a thicket and as untameable. He liked to say it gave him something of the Medusa. Then the voice, excitedly gabbling about deals or bankers – it was usually one...
Customer expectations drive back-office change
The use of out-of-date back-office software has been a problem for banks for some time, as aging systems have left them vulnerable to data breaches or system failures. But there is now an additional issue emerging as front-end technology risks...
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