SEPA’s New Instant Credit Transfer Facility Allows Up To €15,000 To Be Transferred EU-Wide In Just 10 Seconds

“As of today, nearly 600 payment service providers (PSPs) from eight European countries are offering instant payment solutions based on SCT Inst.” EPC announcement, Nov 21st

What is SCT Inst? As of 21st November, the Single European Payments Area (SEPA) Instant Credit Transfer Scheme has become operational. The scheme “allows the electronic transfer of up to €15,000 Euros to be transferred across Europe in less than ten seconds, at any time and on any day of the year, including weekends and holidays.” Read more

62 Of The Most Insane Facts About Bitcoin – In An Infographic!

This content is sourced and brought to you by The Money Cloud – comparing the best rates for sending money overseas offered by hand-picked, regulated brokers and money transfer agencies.

price of bitcoin moves so fast these days, that no sooner is a new analysis of the sometimes controversial, often entertaining digital currency published, we have to tear the arguments down and rehash the theory to justify the latest surge in price. Read more

Challenger Starling Shows Banks How It’s Done With Recent Integrations To Yoyo Wallet and Flux

There is an awful lot of hype surrounding the fintech industry; some of it unjustified.

Many startups and enterprises are simply jumping on the “disruptive – in a good way” bandwagon, without offering products or services that are clearly differentiated from the ones offered by the big banks – or noticeably cheaper, faster, or more efficient.

But that is certainly not the case with Starling Bank. Read more

Virtual Bank Services & Digital Dashboard Assistants Will Be The Fintech Trend To Watch Going Into 2018

Despite the looming threat of Brexit, 2017 has been another tremendous year for fintech in the UK. Since it began, more than £1 billion of investment has poured into the country, and most notably, into London – more than double the amount compared to the same period last year.

It should not surprise anybody; fintech is, often quite literally, a big deal over here – the hottest ticket in town. In fact, there are only 3 cities in the world –  San Francisco, Beijing, and New York, who are attracting more VC fintech investment currently than London, which is ahead of the likes of Mumbai, a city increasingly pushing the cashless agenda, and Singapore, one of Asia’s most exciting fintech hubs.

What areas are VCs, angel investors, and even the big banks themselves, investing into?

Read more

Fintech East Finally Meets West! Camden Market Signs Historic Deal To Integrate WeChat Pay At Point Of Sale

Camden Market, London’s fourth biggest tourist attraction is breaking the mould by permitting users of WeChat Pay to use their e-wallets to make purchases.

WeChat Pay is hugely popular in China – in 2017 alone, €1.5 trillion of payments were processed via the app globally – and according to recent research the service accounts for 40% of the entire Chinese mobile payment market.

The app is especially popular with Chinese tourists and WeChat have been making concerted efforts to extend its reach into Europe, where Chinese visitors spend more than European and US tourists combined. Luxury goods are particularly popular – Asia accounts for 50% of all luxury purchases made in Europe. Read more

Glint – The App That Lets You Buy, Spend & Share Gold – Launches In London

Ever since the global financial collapse of 2008, banks, currencies, and even governments seem to have gone down and down in our estimation – in fact, it’s quite possible that they have never before been held in such low regard.

First the public’s money was used to bail out the banks, then we were forced to accept record low interest rates, high inflation, and “austerity” as the norm.

This financial malaise has carried on for nearly a decade, but, luckily, the emergence of fintech and the disruption of services that it has wrought has suddenly put us all back in charge of our finances. Now it is the banks that must pander to our needs; now, if they slip up, we, the public, have options. Read more

Standard Chartered Is Introducing A Chatbot In Hong Kong With The Brains To Manage Your Money – Just Don’t Expect Miracles

This content is brought to you by The Money Cloud – comparing the best rates for sending money overseas offered by hand-picked, regulated brokers and money transfer agencies.

Not so long ago, chatbots were the most talked about new tech on the block. It was believed that soon we would be able to conduct conversations with digital assistants as easily as we could with our PAs.

Well, things haven’t quite turned out that way. Microsoft’s attempt to launch a “twitter bot” in 2016, known as Tay, was nothing short of disastrous, Hackers were quickly able to disrupt and distort the bot’s conversational gambits until Tay began to spout offensive gibberish. Read more

Art Basel Miami; World Renowned Art Fair Where The Creative Showcase & The Well-Heeled Spend Big

This content is brought to you by The Money Cloud – comparing the best rates for sending money overseas offered by hand-picked, regulated brokers and money transfer agencies.

Art Basel, founded by gallerists Ernst Beyeler, Trudi Bruckner and Balz Hilt, staged its first international art fair, in Switzerland, back in 1970. The event attracted tens of thousands of visitors, and work from some 90 prestigious art galleries, and 30 art publishers. Read more

Is The Digital Payments Industry Facing A Backlash From The Pro-Cash Lobby?

If you were to glance at the latest tech or payments industry news, you could be forgiven for thinking that the days of hard currency, or actual, physical, cash were numbered.

But, away from the front line of the digitalisation of all things banking related; bitcoin, e-wallets, online or mobile only accounts; peer-to-peer money transfer services; a group of organisations with a vested interest in the continuing use of physical currency are forming an alliance to secure teh future of notes and coins. Read more

Blockchain Startup R3 Building First Cross Border Payments Platform Using Distributed Ledger Technology

R3, the fintech startup that raised $107 million dollars of investment earlier this year has announced that it will collaborate with 22 of its member banks to build a blockchain-based platform that will enable cross border payments for both central bank and digital currencies.

R3 says that it expects the prototype to be launched before the end of 2017. The company also insists that the new platform will be the first of its kind anywhere in the world. Read more

The Singapore Fintech Festival Is In Full Swing This Week – Here’s What You Need To Know

When it comes to fintech, the Monetary Authority of Singapore (MAS) is one of world’s most forward thinking organisations.

The agency not only enables local fintech startups to thrive and prosper, but reaches out globally, signing deals with its equivalent local authorities all over the world, from Australia, to the Caribbean, to neighbouring countries in South East Asia – as well as the Financial Conduct Authority in London – with the purpose of collaborating, sharing technologies, and comparing regulatory regimes. Read more

6 Reasons Why Saudi Arabia Is The Focus Of The World’s Attention Right Now

They say a week is a long time in politics; it certainly must have felt that way in Riyadh, capital of Saudi Arabia this week. it has truly been one of the most turbulent weeks in recent Saudi political and economical history.

In an unprecedented and unexpected move, an anti-corruption crackdown, authorised by the King, Salman, and carried out by his son, the Crown Prince Mohammed bin Salman, the head of a recently formed anti-corruption unit, saw many of Saudi Arabia’s most powerful and richest people held at the Ritz Carlton hotel in Riyadh. Read more

Is The UK World’s Best Place To Buy Luxury Goods?

The luxury goods market is back on track. According to research recently compiled by Bain & Co, the consultancy firm, worldwide sales of luxury goods look set to increase, driven by demand from Chinese customers as well as millennial and “Generation Z” shoppers.

Worldwide revenues from personal luxury goods sales are expected to rise 6 percent in 2017, beating forecast projections which indicated a 2-4% increase. Read more

New Zealand Tops World Bank List For Ease Of Doing Business, UK Ranks Seventh

This content is brought to you by The Money Cloud – comparing the best rates for sending money overseas offered by hand-picked, regulated brokers and money transfer agencies.

The UK has held on to seventh place in the World Bank’s annual rankings for Ease of Doing Business; New Zealand topped the list, with Singapore, Denmark, Hong Kong and South Korea claiming the next four spots; the US leapfrogged the UK to take 6th. Read more

Internations Reveals The Best and Worst Places For Expats in 2017

It’s all change amongst the top 3 nations in the world that are most popular with expats, according to a survey released earlier this year by Internations, the global expat networking platform and events organiser. 

None of 2016’s top 3 retained their spot in 2017, whilst the world’s highest rated destination this year has made the jump from 19th to 1st spot. Read more

Tax Affairs Of World’s Rich, Elite & Famous Under Scrutiny Again After Release of “Paradise Papers”

This content is brought to you by The Money Cloud – comparing the best rates for sending money overseas offered by hand-picked, regulated brokers and money transfer agencies

The secretive world of offshore tax havens and the complex webs of companies they create in order to allegedly help the wealthy avoid paying tax on many of their assets will be brought firmly back into focus again this week thanks to a leak of more than 13.4m files from two offshore service providers.

The latest leak has been dubbed the “Paradise Papers”. At 1.4 terrabytes, the leak is roughly half the size of the “Panama Papers”, which sent shockwaves around the world in 2016, after an anonymous source sent private communications and files from the offices of Mossack Fonseca, a Panama based law firm, to the German newspaper Süddeutsche Zeitung. Read more

Alpine Independents Latest Firm to Partner With The Money Cloud By Hosting Unique Money Transfer Comparison Widget!

The Money Cloud are pleased to announce their latest partner who will carry their unique, ground breaking overseas money transfer comparison tool Alpine Independents.

Alpine Independents is a one-stop-shop online ski portal that curates the best independent ski chalet and ski holiday operators into one site – saving you time and energy.

The company, founded by successful entrepreneurs and ski-fanatics John McFetridge and Finlay Kerr, evolved from an earlier business the two founded, the Winter Adventure Company, that organised ski-breaks for the more discerning, independent traveller. Read more