EuropeRSS

Instant payments in Europe: a recipe for success

Isabelle Olivier, Swift

There is intense interest in instant payments (IP) throughout Europe. Domestic schemes are already live in the UK, Denmark, Poland and Sweden. The success of these schemes shows what’s possible but also teaches many lessons.

Open banking: nothing personal

Open banking

Financial authorities globally are promoting open banking. While it represents a shift in the mindset of traditional banks, Heather McKenzie, editor of Daily News at Sibos, finds they may be up to the challenge.

Alastria blockchain consortium springs up in Spain

spain

A variety of Spanish banking, energy and telecommunications companies have established Alastria, the “world’s first regulated national network based on blockchain”. The non-profit consortium will develop distributed ledger technology (DLT), which it believes is “set to become the new data exchange ecosystem”. As reported in May, the group created Red Lyra, the “first multisector technology […]

ECB targets new RTGS platform

ECB

The European Central Bank’s (ECB’s) governing council will decide by the end of this year whether to greenlight a new real-time gross settlement (RTGS) system to replace the decade-old Target2 platform.

Instant payments in Europe: moving from theory to practice

Carlo Palmers, Swift

We live in impatient times – everyone wants to be able to pay who they want when they want, instantly and regardless of location. The UK has had instant payments since 2008; Faster Payments volumes have exceeded all predictions and now exceed 135 million per month.

The race to meaningfully engage with customers is on

Bragi Fjalldal, Meniga

The disruptive threats that banks face today are well documented: fintechs, decentralised cryptocurrencies, distributed ledger technology and now the tech giants like Amazon, Facebook and Apple, to name a few. These players are all now placing themselves between retail banks and their customers, meaning that banks are not just competing with other banks anymore.

Instant payments momentum gathers pace globally as Swift strengthens its role

Real-time payments are coming to you

Instant payments are set to be one of this year’s hot topics at Sibos. Last week, Swift and EBA Clearing announced that users of EBA’s instant payments system, RT1, will be able to access the platform via SwiftNet Instant, Swift’s instant payments messaging solution, from November 2018. Elsewhere, Australian consumers have been told they will be able to make instant payments from January next year.

ECB Guide: assessments of fintech credit institution licence applications

ECB fintech guide

The European Central Bank (ECB) has published a guide to assessments of fintech credit institution licence applications.

Fintech funding round-up: 13 October 2017

Funding concept with smartphone

Mongolia gets a mention in this concise fintech funding round-up. Features OakNorth Bank, AND Global and TransFICC. UK challenger OakNorth Bank has secured £154 million investment as it looks to lend a further £1.5 billion to businesses in the country in 2018, and then attempt to move on globally. The funding came from the Clermont […]

Deutsche Bank jumps on IBM Watson for Germanic AI ambitions

deutsche bank

Wunderbar! Deutsche Bank has completed internal proofs of concepts (PoCs) with IBM for the deployment of an artificial intelligence (AI) powered Watson cognitive system in the German language. The system will be used in the bank’s Artificial Intelligence Client Communication Centre (AI-C³), and Deutsche Bank says it will use Watson for the development of a […]

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