Thursday, December 8, 2022

Bank of East Asia selects Wolters Kluwer to help with compliance

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The Bank of East Asia, Limited (BEA), a Hong Kong-based financial services group listed on The Stock Exchange of Hong Kong, has chosen to implement award-winning regulatory reporting software from Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR). OneSumX for Regulatory Reporting combines bank data into a single source to ensure consistency, reconciliation and accuracy and includes the Regulatory Update Service.

Mambu and Credisense team up to enable next-gen lending across APAC

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Credisense, a no-code origination, workflow and credit decisioning platform headquartered in New Zealand, has partnered with global cloud-native SaaS banking and financial services platform Mambu, to accelerate the modernisation of lending systems in the APAC market. The partnership will provide lenders of all sizes with a flexible end-to-end lending platform that supports loan origination through to loan collections, all via a no-code, configuration-based technology stack. The Mambu / Credisense combined lending solution will help lenders to keep costs down while enabling them to modernise their technology systems, launch new products and services, and provide their customers with exceptional experiences.

Innovation and investment company appoints former global tech firm CEO

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Fast growing innovation and investment firm, Skafold, has appointed ex-MTX Group Australia CEO Ben Papps as its Executive General Manager and Investment Principal. As Executive General Manager, Ben is responsible for the overall management of investments made in the digital and data industries and growth of in-house data and development capabilities.

Blnk raises $32m to power instant inclusive consumer credit in Egypt

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Blnk, a startup that enables instant consumer credit in Egypt, has raised $23.7m in equity and debt funding, and $8.3m in securitized bond issuance to accelerate financial inclusion within underserved communities. The funds will support further development of Blnk’s AI-powered lending infrastructure and the financing of the firm’s fast-growing portfolio of clients.

Alipay+ expands its enablement of seamless travel experiences to Japan

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Ant Group announced that Alipay+ has expanded its enablement of seamless travel experiences to Japan, where over 1 million local merchants are now connected to global cross-border digital payments and marketing capabilities to better serve consumers across the world.

New analysis compares Aussie bank fees with US, UK, Canada and NZ

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Despite the current volatility across the global economy, international money transfers are continuing to rise and are expected to reach $244 trillion this year. Now, a new analysis comparing international money transfer costs through banks in Australia, UK, the US, Europe, Canada and New Zealand has found an average wire fee and exchange rate markup of 2.42 per cent, costing customers from $214-470 on a $10,000 payment transfer.

doola raises $8 million to democratize access to the US financial ecosystem

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doola announced that they have raised $8m in funding to help entrepreneurs around the globe turn their dream idea into their dream US business. This new funding round was led by Nexus Venture Partners with participation from the Y Combinator Continuity Fund and more. It’s time for entrepreneurs to shift their attention from admin and paperwork to innovation and product development. By helping founders with the legal and admin side of their businesses, doola enables founders, anywhere they’re based, to focus on what they do best.

Curbing inflation: Why borrowers should watch their pennies this Xmas

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With the latest cash rate increase of 25 basis points – the seventh in as many months – one of the nation’s most awarded mortgage brokers believes borrowers need to rein in their spending this Christmas to fight inflation. While the cash rate rises have been moderating, we all have a part of play to help control inflation. If we want interest rates to come down, then we all need to do our bit to help reduce inflation, including reining in spending where possible. 

Fund and corporate service provider Vistra names Simon Webster its CEO

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Following a planned succession process leading into the next phase of growth, Vistra, one of the leading Fund and Corporate Service providers announced the appointment of Simon Webster as the new Chief Executive Officer for Vistra Group, effective 7 November 2022. Based in Vistra's headquarters in Hong Kong, Simon will lead the business in 47 jurisdictions as it positions itself for ongoing growth as the global market leader in the Fund and Corporate Services industry. Simon will also join Vistra's Board following Regulatory approval.

Innovation and investment firm hires blockchain specialist Steve Vallas

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Fast growing innovation and investment firm, Skafold, has appointed ex-Blockchain Australia CEO Steve Vallas as its new Senior Technology Advisor. The role is responsible for exploring and advising all Skafold activities related to blockchain, digital currencies, digital regulation and technology more broadly. Skafold's diverse innovation and investment ecosystem works closely with innovators and entrepreneurs to discover, unlock, and realise value and impact.