News

August 31, 2016
Abu Dhabi Global Market Issues Public Consultation on its FinTech Legislative Framework
The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) today issued a public consultation paper inviting public feedback and comments for its proposed legislative framework to implement and govern the FRSA Regulatory Laboratory (“FSRA RegLab”). This follows closely f...
August 16, 2016
Market leading software provider Temenos partners with MENA New Age Banking as Lead Sponsor
World’s leading banking software vendor, Temenos, has announced its participation at the MENA New Age Banking Summit as the Lead Sponsor. The event is organized by UMS Conferences, creating a platform that will witness developments, global trends, innovations and tech-solutions in the banking industry ...
August 11, 2016
Digital wallet: UAE bank allows customers to use mobile phones as credit, debit card
Using NFC technology, customers can now ditch their plastic money and use their mobile device to make payments Given the number of banks who are eager to hand out credit or debit cards, more consumers are finding themselves using cash less and less – even when making smaller purchases. Going cashless offer...
August 9, 2016
Why Banks Will Fail to Apply Blockchain Technology
Despite years of development, the finance industry has failed to showcase a working application of the blockchain technology. Experts believe that banks may have overlooked the most important concept of the technology: decentralization. The formation of the R3 consortium and the increasing interests from maj...
August 7, 2016
Fintech or bust: Can banks catch up?
Following the news that Lloyds Banking Group will close more than 200 branches, with 3000 workers set to lose their jobs, the future for high street banking is clearly digital. Is it too late for banks to compete with fintech firms on the digital front? At Lloyds Banking Group’s annual results announce...
August 3, 2016
Private Banking in the Digital Era
The increasing role of technology in private banking has upset the old tried and trusted ways of doing business “Twenty years ago, only sophisticated financial intermediaries could afford powerful data tools. Now, virtually anyone with a smartphone can access even more information. My dad can see almost th...
August 1, 2016
Why Omnichannel Banking Matters Now More Than Ever
In 2015, the banking industry reached a tipping point. The number of people using mobile banking applications surpassed the number of customers still going to their local branch to take care of their regular needs. Likely as a consequence of the growing number of new digital banking users, the number of bank...
July 31, 2016
Standard Chartered bringing video banking to Asia, Africa and Middle East in biggest launch of its kind
Standard Chartered Bank’s retail banking business serves the banking needs of nearly 10 million individual and business clients across more than 30 markets in Asia, Africa and the Middle East, through cutting-edge digital channels, more than 1,000 branches and 5,000 ATMs. Standard Chartered Bank said it is...
July 20, 2016
Absa launches banking for Facebook Messenger
Absa is set to launch a world banking first : ChatBanking for Facebook Messenger. Absa said the “world-first in banking technology” will allow customers to conduct banking without having to leave their “favourite social media platform”. “The launch of the banking service on Facebook Messenger follo...
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