Commerzbank, KfW and MEAG simulate blockchain-based security transaction

It's blockchain story time!

Commerzbank, KfW Banking Group and MEAG, the asset manager of Munich Re and ERGO, have replicated a jointly traded euro commercial paper (ECP) in a blockchain environment.

Top fintech stories this week – 31 March 2017

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Catch up on Banking Technology’s top five fintech stories of the week – all in one place!

Germany’s KfW Bank in €5bn money transfer error

ouch 1

KfW, a German government-owned development bank, which gained publicity for erroneously transferring more than €300 million to Lehman Brothers the day it filed for bankruptcy, has done it again, according to Bloomberg. KfW mistakenly transferred more than €5 billion to four banks because of a technical glitch that repeated single payments multiple times, according to […]