FINTECH

iBanFirst and Klarna Launch New Open Banking Capabilities

iBanFirst | July 01, 2021

In order to become the European leader in B2B cross-border payments, iBanFirst is expanding its services with the implementation of additional open-banking features. The iBanFirst Open Banking Barometer assesses open banking coverage for SMEs across Europe. This tool will give a country-by-country effective measurement of account aggregation and payment initiation availability.

“While the historical banks' lack of enthusiasm made it difficult to develop effective open-banking solutions, iBanFirst managed to overcome the hurdles on the road to open-banking with a solution that is both scalable geographically and stable over time,” said Pierre-Antoine Dusoulier, CEO and Founder of iBanFirst. Accessing data from their external bank accounts and initiating payments via the iBanFirst platform removes yet another barrier in our client's payment processes. Previously, companies had to use external online banking tools to credit their iBanFirst account; today, they can route payments directly on the iBanFirst platform, which effectively becomes their centralised invoicing system for all FX operations."

iBanFirst has chosen a multi-partner architecture in collaboration with Klarna Open Banking, Europe's open-banking network. iBanFirst can now provide its clients with methods to engage with their money regardless of where their accounts are situated or how compliant their banks are with PSD2's provision.

Russ Carroll, Klarna's Global Head of Open-Banking, stated, "As one of Europe's leading open-banking networks, it made logical for us to join forces with a European pioneer in FX solutions." Our rapidly expanding bank and country coverage, together with iBanFirst's goal of open banking advantages, will empower clients through innovative financial services.”

iBanFirst has announced the debut of Payment Tracker, a real-time payment tracking service that provides real-time data on the progress of international payments at every step of the cash transfer process. The system also identifies possible roadblocks and delays along the payment's path, allowing mid-cap and SME clients to follow payments in the same manner that consumers track deliveries.

Spotlight

Financial Management is an essential part of the economic and non economic activities which leads to decide the efficient procurement and utilization of finance with profitable manner. In the olden days the subject Financial Management was a part of accountancy with the traditional approaches. Now a days it has been enlarged with innovative and multi dimensional functions in the field of business with the effect of industrialization.


Other News
FINANCIAL MANAGEMENT

Raistone, Quartix partner to address financial gaps faced by manufacturing & distribution companies

Raistone and Quartix | October 19, 2022

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FINANCIAL MANAGEMENT

Great Place to Work® and Fortune Name AAG One of the 2022 Best Workplaces in Financial Services & Insurance™

AAG | September 29, 2022

Great Place to Work® and Fortune have honored American Advisors Group (AAG) as one of the 2022 Best Workplaces in Financial Services & Insurance™. Earning a spot means that AAG is one of the best companies to work for in the country. The Best Workplaces in Financial Services & Insurance award is based on analysis of survey responses from more than over 176,000 employees from Great Place to Work-Certified™ companies in the financial services and insurance industry "It's an honor to be named a Great Place to Work and we are so grateful for our dedicated employees who have made us a part of this list, AAG is truly a very special place, where we do extraordinary things for seniors, so they can achieve a better retirement." -Rebecca Pacillas, AAG Chief People Officer AAG is committed to building its Caring, Driven, and Ethical culture through employee engagement, competitive compensation, and professional development. AAG recently launched One AAG, an internal sharing initiative focused on diversity, equity, and inclusion. One AAG invites its employees to share their real stories and experiences through internal company newsletters and discussion panels to create a space where diverse perspectives, cultures, and values are celebrated. In 2022, AAG was endorsed for multiple corporate accolades including Best Workplace for Millennials. AAG was also recognized by Inspiring Workplaces and awarded Arizona Top Workplaces in 2022. AAG is headquartered in Irvine California. About the Best Workplaces in Financial Services & Insurance™ Great Place to Work® selected the Best Workplaces for Financial Services & Insurance™ by gathering and analyzing confidential survey responses from more than 176,000 employees from Great Place to Work-Certified™ companies in the financial services and insurance industry. Company rankings are derived from 75 employee experience questions within the Great Place to Work® Trust Index™ survey. Great Place to Work determines its lists using its proprietary For All™ methodology to evaluate and certify thousands of organizations in America's largest ongoing annual workforce study, based on over 1 million survey responses and data from companies representing more than 6.1 million employees, this year alone. Read the full methodology. About Great Place to Work® Great Place to Work® is the global authority on workplace culture. Since 1992, they have surveyed more than 100 million employees worldwide and used those deep insights to define what makes a great workplace: trust. Their employee survey platform empowers leaders with the feedback, real-time reporting and insights they need to make data-driven people decisions. Everything they do is driven by the mission to build a better world by helping every organization become a great place to work For All™. About AAG AAG is dedicated to helping older Americans find new ways to fund a better retirement through the responsible use of home equity. As the nation's leader in reverse mortgage lending, AAG offers a suite of home equity solutions including Home Equity Conversion Mortgages, traditional and proprietary mortgages — that are designed to give seniors a better financial outcome in retirement. AAG is a proud member of the National Reverse Mortgage Lenders Association (NRMLA).

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FINANCIAL MANAGEMENT,PAYMENTS

Signing a partnership agreement between Enjaz Payment Services Company and Thunes to Enable Instant International Transfer

Enjaz and Thunes | November 03, 2022

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CORE BANKING

Brankas develops world's first Banking-as-a-Service open source license

Brankas | November 24, 2022

Open Finance technology leader Brankas has developed "Brankas Open", a first-of-its-kind open source license for the next generation of Banking-as-a-Service and Open Finance software. The "Brankas Open" license is meant to encourage digital banking and fintech innovation and lower the cost barriers for startups, neobanks, and even traditional institutions to quickly prototype and launch new solutions, while retaining their own source code. Customers will benefit from more choice and better user experience, as companies have open access to use, modify, redistribute, and collaborate on the publicly available Brankas Open code. The inspiration for Brankas Open came when Brankas received a grant from the Monetary Authority of Singapore in November 2021 to develop Brankas APIX Open Core, a proof of concept open source core banking system. Recognizing the need for a modernized Open Source framework to address new Open Finance technology, Brankas looked to existing open-source licensing frameworks in order to develop Brankas Open. Brankas felt that this framework was necessary to protect community contributions, ensure open access, and comply with financial institutions' data protection and security requirements. "Brankas' Open license allows our team to build and contribute in a way that is fair, equitable, and open to independent developers, FIs, and to our partners. With this license, Brankas is able to continue to invest in the greater open source community, and to share our code freely with the world," - Brankas co-founder and CTO, Kenneth Shaw Brankas has been advised by Ren Jun Lim, Alex Toh and Darren Leong from Baker McKenzie's Singapore-based Intellectual Property and Technology (IPTech) practice group. About Brankas Brankas is the leading Open Finance technology provider in Southeast Asia. We provide API-based solutions, data and payments solutions for financial service providers (like banks, lenders and e-wallets) and online businesses. Brankas partners with banks to build and manage their Open Finance infrastructure, producing APIs for real-time payments, identity and data, new account opening, remittances, and more. With Brankas' secure Open Banking technology, online businesses, fintech companies and digital banks can use Brankas APIs to create new digital experiences for their users. About Baker McKenzie Baker McKenzie provides integrated client solutions that are underpinned by deep practice and sector expertise, as well as keen local market knowledge. These connected solutions provide insight and foresight, empowering business leaders to make the right decisions across siloes. Gain access to seamless legal advice across all your IP and technology needs including protecting and commercialising your intangible assets, advice on licensing and regulatory matters, legal issues in the area of internet of things (IoT), data protection, sector-specific dispute resolution, tax-related issues, labour law, competition and antitrust, commercial contracts and restructuring. Benefit from a team with a unique culture which enables our 13,000 people to work with clients as trusted colleagues and friends to drive innovative growth that is both sustainable — and inclusive.

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Spotlight

Financial Management is an essential part of the economic and non economic activities which leads to decide the efficient procurement and utilization of finance with profitable manner. In the olden days the subject Financial Management was a part of accountancy with the traditional approaches. Now a days it has been enlarged with innovative and multi dimensional functions in the field of business with the effect of industrialization.

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