Category: Finance

Charities are facing a crisis of banking services, as many of them have reported their accounts being closed or frozen by high street banks without warning or explanation. This has caused severe disruption to their operations, as they are unable to pay staff, access funds, or receive donations. In this article, we will explore the reasons behind this problem, the impact it has on charities and their beneficiaries, and the…

The Hong Kong Monetary Authority (HKMA) has recently launched a series of initiatives to promote the adoption of green fintech solutions in the Hong Kong banking industry. The HKMA aims to enhance the resilience of the banking sector to climate risk and support the transition to a low-carbon economy. Green Fintech Competition The HKMA announced the launch of the Green Fintech Competition on 21 September 2023. The competition invites green…

The banking and financial services industry is undergoing a rapid and radical transformation in 2024. Driven by technological innovations, regulatory changes, consumer preferences, and environmental challenges, the industry is facing multiple fundamental shifts that will reshape its future. In this article, we will explore some of the biggest trends that are dominating the banking and financial services sector in 2024, and how they are impacting the way banks operate and…

The Reserve Bank of India (RBI) has issued new guidelines for customer due diligence (CDD) by banks and regulated entities (REs) on Tuesday. The central bank has asked them to adopt a risk-based approach for periodic updating of Know Your Customer (KYC) information. The amendments to the Master Direction on KYC follow the latest government instructions related to money laundering, unlawful activities, and weapons of mass destruction. The RBI has…

The Reserve Bank of New Zealand (RBNZ) announced today that the four major banks in the country have met the requirements of its outsourcing policy, which aims to ensure the resilience and stability of the banking system. What is the outsourcing policy? The outsourcing policy is a set of rules that the RBNZ imposes on registered banks that have a significant share of the banking system’s assets, liabilities, or payment…

Eltropy, a leading provider of digital communication solutions for financial institutions, has announced a partnership with Jack Henry, a leading provider of technology solutions and payment processing services for the financial industry. The partnership will enable banks and credit unions using Jack Henry’s Banno Digital Banking Platform to leverage Eltropy’s secure and compliant messaging platform to communicate with their customers and members. Eltropy’s Messaging Platform Eltropy’s messaging platform allows financial…

Nigeria’s fintech sector is attracting more attention from investors and customers, as the country’s mobile banking adoption grows rapidly. Computer Warehouse Group (CWG), one of the leading technology companies in Nigeria, has seen its share price soar by more than 300% in the past year, as it leverages its fintech solutions to tap into the lucrative market. CWG’s Fintech Solutions Drive Growth CWG, which was founded in 1992 as a…

E-commerce is one of the fastest-growing sectors in the global economy, with projected sales reaching $4.5 trillion in 2021. However, starting and scaling an e-commerce business is not without challenges, especially when it comes to funding. E-commerce entrepreneurs need capital to invest in inventory, marketing, technology, and other essential aspects of their operations. But what are the best financing options for e-commerce businesses, and how can they access them? There…

ESG stands for environmental, social, and governance. It is a framework for assessing how companies perform in these three areas compared to their competitors. ESG investing is a fast-growing trend that aims to align financial returns with positive social and environmental impacts. But what do banks really mean when they claim to put trillions of dollars into ESG? Are they truly committed to sustainability, or are they just greenwashing their…

Lloyds shares (LSE: LLOY) have been underperforming the FTSE 100 index this year, despite the favourable environment of rising interest rates. The bank’s share price is down about 10% year-to-date, while the broader market is up about 15%. Why is this the case, and are there better opportunities in the UK banking sector? One of the main reasons for Lloyds’ lacklustre performance is the intense competition in the UK retail…