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

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

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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

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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

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

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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

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

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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

Finding Neom; Saudi Arabia’s Plan To Transform 26,500 Sq. Km Of Untouched Land Into The World’s Most Futuristic City

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You may think of Saudi Arabia as an oil-rich nation of unrivalled wealth, strict religious observance, and even stricter civil laws that tend to reinforce a male-dominated society, but if the current Saudi leadership has its way, your children almost certainly won’t.

Saudi Arabia has been on a charm offensive over the past six months, as it promotes 2 of the most ambitious sounding projects the world has ever heard of. Read more

The Top 3 International Money Transfer Apps In Asia You Need To Know About

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A new wave of disruptive remittance startups have sprung up in Asia, providing workers and families who need to send money overseas to support loved ones with a cheaper, and easier process than ever before. Read more

UK Is Third Most Cashless Country In The World, China Sixth, According To New Study

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The UK is reputed to be one of the most tech-savvy economies in the world, with digital banking, payments systems and finance platforms to rival anywhere in the world.

A new report from Forex Bonuses has ranked the UK as the third most cashless society in the world, behind only Canada, in first place, and Sweden. China, often thought of as the next global leader in fintech disrupted services, thanks to home-grown ecommerce giants like Alibaba and its affiliated payments service Alipay, and mobile wallet integrated full-service apps like WeChat, ranked sixth. Read more

WorldRemit Make Move Into Lucrative Far East Remittance Market After Joining Malaysia Bank Negara’s Exclusive Sandbox Programme

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We may have returned from Malaysia nearly two weeks ago now, but relations between the Far Eastern Fintech hub of Kuala Lumpur and London are clearly getting even stronger!

World Remit, the London-based money transfer company that says it is handling more than 700,000 transfers to 140 receiving destinations every month, has announced that it is launching in Malaysia. Read more

Fintech In Asia – 2 New “Regulatory Sandboxes” Announced in Hong Kong, Whilst A Third Gets An Upgrade. Good News For Customers Worldwide?

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As anybody who regularly reads our blog posts and breaking news updates will probably know, we have recently been travelling in Asia, visiting Malaysia, Singapore, and Thailand, and exploring the countries’ fintech and international money transfer ecosystems.

Fintech in Asia is booming; along with London, New York, and parts of Africa, places like Singapore, and, not to be underestimated, Bangkok and Kuala Lumpur are forging ahead with truly disruptive services and products that will change the face of banking forever.

But in this post we are going to look at some news from Hong Kong, courtesy of Open Gov Asia; last week, not one, not two, but three financial regulators announced plans to introduce “sandboxes” to aid the development of disruptive startup fintech firms. Read more

In London, Even IMF Chief Christine Lagarde Is Suggesting Digital Currencies Could Be The Future!

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When it comes to debating digital currencies, increasingly it seems to be the case that we must ask “whose side are you on?”

Are you a sceptic, like JPMorgan Chase CEO Jamie Dimon, or billionaire hedge fund veteran Ray Dalio, or Nobel prize winning economist Robert Shiller, all of whom have bashed bitcoin recently, calling it a “a fraud”, and “a bubble”?

Or are you a “believer”, like Fidelity CEO Abigail Johnson, or even International Monetary Fund chief and economist Christine Lagarde? Read more