Silicon Valley’s Hash Cash  & Singapore’s United Overseas Bank Join Forces For Blockchain Based Remittance Service

Singapore and Silicon Valley are arguably the fintech industry’s two geographical titans. Both are renowned for the ability of their supremely well educated and entrepreneurial populations to become early adopters of new technologies and commercial trends, and successfully turn them into globally dominant enterprises.

In Silicon Valley’s case it tends to be technologically advanced and trendsetting media and social media companies that rule the roost, whilst in Singapore, financial acumen, international trade, notably shipping, and now, financial technology are the industries that have helped to make one in every twenty of the City state’s citizens a millionaire, if reports are to be believed. Read more

World Bank Figures Reveals Falling Average Worldwide Cost Of Remittances

Remittance Prices Worldwide (RPW) is an organisation, affiliated to the World Bank, that monitors the costs incurred by those sending money abroad, across all of the world’s major remittance corridors.

Since 2009, when the average global cost of sending money anywhere in the world was calculated at a high of 9.67% of the total amount sent, the figure has been in steady decline, and the good news is that the latest figure, for Q4 2017, records another decrease in price, from 7.21% in Q3 ‘17, to 7.09%. Read more

Transferwise Launches 28 Currency Borderless Bank Account, But Faces Stiff Competition From Rivals

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.

TransferWise is targeting “expats, second homeowners, freelancers and more” with a new bank account that allows users to make transactions in 28 different currencies. Read more

The Bitcoin Phenomenon; Is It A Myth That We Are All Buying The Digital Currency?

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.

Most of us have heard of it, but are we buying it? After a rocky first few years, when it was seen as little more than a vehicle for the ill-gotten gains of drug dealers, money launderers and terrorists, bitcoin, the concept, successfully overcame the doubters in 2017, leading to a stunning hike in the price of the digital currency, from less than $1,000 dollars in January, to above $19,500 by the end of December. Read more

Is Santander’s 100% Digital Openbank A Template For The Bank Of The Future?

Santander launched its latest product, the “100% digital” OpenBank last week amidst much fanfare and some bold new features and promises. Currently it is only available in Spain, but is expected to be rolled out internationally soon.

So, after 15 months in the making, and having been re-built from scratch, is this re-launched product of Santander’s a blueprint for the way the bank accounts of the future will operate? Read more