Search Results for: financial institutions
Tech partnership brings people and payments closer together
September 9th, 2016
Innovative link-up of CBA’s CommBank app and Barclays’ Pingit will allow customers to move money over 10,000 miles – quickly, securely and seamlessly – with no more than a mobile number. Ground breaking collaboration marks the first time two ...
The Forex business is officially shrinking for the first time since 2001
September 8th, 2016
The latest triennial survey of the FX industry by the Bank for International Settlements (BIS) has revealed a decline in volumes for the first time in 15 years. The conclusions of the survey are broadly in line with the ...
Asia Closes In On UK In Forex Market Dominance
September 8th, 2016
For weeks now, analysts have warned that the U.K.’s dominance in FX trading is waning. Now, for the first time in more than a decade, the U.K.’s share of the global currencies trading market dropped to 37.1 percent, reports ...
Westpac refunds $20 million in credit card foreign transaction fees
September 8th, 2016
Westpac Banking Corporation (Westpac) has recently refunded approximately $20 million to around 820,000 customers for not clearly disclosing the types of credit card transactions that attract foreign transaction fees. Following a customer complaint, Westpac notified ASIC that customers may have been ...
BM&FBOVESPA becomes first exchange to join R3 distributed ledger consortium
September 7th, 2016
BM&FBOVESPA will be collaborating with over 60 of the world’s largest financial institutions to develop ground-breaking commercial applications for the financial services industry that leverage the appropriate elements of distributed and shared ledger technology. This initiative is part of ...
G20 summit concludes with historic consensus on world growth
September 6th, 2016
The 11th summit of the Group of 20 (G20) major economies concluded in Hangzhou on Monday, reaching extensive consensus on pursuing innovative, invigorated, interconnected and inclusive world economic growth. “Held at a critical time for world economic growth and ...
Reserve Bank of Australia decided to leave the cash rate unchanged at 1.50 per cent
September 6th, 2016
At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. The global economy is continuing to grow, at a lower than average pace. Several advanced economies have recorded improved conditions over the ...
Israel puts FATCA temporary on hold; Other countries may rethink
September 5th, 2016
Israeli High Court’s FATCA Injunction Must Make Other Countries Rethink America’s Imperialistic Law The Israeli High Court’s temporary injunction against the enforcement of America’s highly controversial global tax law “should serve as a wake-up call for other countries to ...
Bitcoin Regulation in Russia Takes a U-Turn, Subject to Review
September 5th, 2016
Russia’s stance towards Bitcoin and other cryptocurrencies has taken a U-turn. Last week, the country’s finance ministry stated that it is not in a hurry to introduce the Bitcoin draft law. The ministry is planning to review the draft ...
MetLife joins R3 distributed ledger consortium
August 31st, 2016
Insurance giant MetLife, Inc. has joined the R3 partnership, a consortium of 60 of the world’s largest financial institutions focused on designing and applying distributed and shared ledger-inspired technologies for global financial markets. As one of the largest insurers ...
