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Barclays | March 11, 2020
In a UK high street first, Barclays now lets customers make payments from current accounts held with other banks from within its app. Initially, the feature has been rolled out to customers who have a linked current account with NatWest, Nationwide or Bank of Scotland. It will shortly be rolled out to other providers including Santander, Lloyds, Halifax and RBS. The service uses the industry-approved Open Banking API technology, ensuring the process is secure for customers, says Barclays. In the...
Wealth Management
InvestCloud | May 11, 2021
InvestCloud, an award-winning multinational FinTech company that serves some of the world's biggest banks, investment managers, and fund managers, reported today that Mitsubishi UFJ Financial Group (MUFG), Japan's largest bank and one of the world's largest banks by total assets, has deployed its Wealth Adviser Platform. Many MUFG workers can use InvestCloud's Wealth Adviser Platform to help end-to-end wealth management and financial planning. The pa...
Starling Bank | February 10, 2020
Starling Bank has raised a further £60 million from existing backers Merian Global Investors and JTC. The investment brings the total raised by Starling to £323 million and follows two funding rounds of £105 million in aggregate led by Merian in 2019. The UK challenger bank says it will award shares to all 800 employees, incentivizing staff as it strives to meet a target for a first full year in profit by the end of 2021. Starling posted a £26.8 million loss in 2018. Anne...
Financial Management
Wells Fargo and HSBC Holdings plc | November 18, 2022
Wells Fargo & Company (NYSE: WFC) and HSBC Bank plc today announced that the blockchain-based solution they are using for bilateral FX settlements is expanding to include the offshore yuan (CNH). The offshore yuan marks the fifth currency to be settled between the two banks using a shared settlement ledger that currently encompasses the U.S. dollar, Canadian dollar, British pound sterling, and the euro. Since launching the shared DLT solution in December 2021, HSBC and Wells Fargo have settl...
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