German bank LBBW signs with Dutch fintech TreasurUp for online FX hedging services
Landesbank Baden-Württemberg has signed a cooperation agreement with the Dutch FinTech venture TreasurUp. The aim is to introduce a digital solution for foreign exchange risk management, especially targeted at small and medium-sized corporate customers. LBBW will make this online hedging service available to both corporate customers of the Sparkassen-Finanzgruppe as well as its own […]
Deutsche Bank optimistic on revenues after profit beat
Longest streak of quarterly profit since 2012 Shares open higher but early gains fizzle Investment banking revenue drops as expected FRANKFURT, July 28 (Reuters) – Deutsche Bank (DBKGn.DE) on Wednesday delivered a fourth consecutive quarterly profit for the first time in nearly a decade and raised its revenue outlook despite a decline in business at its […]
Facebook is suggesting mobile users ‘Protect’ themselves
…by downloading a Facebook-owned app that tracks their mobile usage. Facebook is now pointing some users to a secure wireless networking app without disclosing it’s a Facebook-owned company. The app, Onavo Protect, also tracks users’ apps, how often they’re used and what websites users visit. Facebook is now offering some mobile app users a wireless-networking app […]
Revolut obtains EU Banking License
LONDON, July 22 (Reuters) – Britain’s government on Thursday unveiled a blueprint for returning NatWest (NWG.L) to majority private ownership within a year, more than a decade since bailing out the lender at the height of the global financial crisis. The finance ministry said it had instructed Morgan Stanley to sell NatWest shares on its behalf in […]
FinTech licence: FINMA publishes guidelines
From 2019, interested parties can apply for the new FinTech licence. The Swiss Financial Market Supervisory Authority FINMA is responsible for granting this licence. It has published guidelines aimed at simplifying the application process. To boost innovative financial companies, the Swiss parliament has introduced the new FinTech licence (persons under Article 1b of the Banking […]
Cryptocurrency market will hit $1 trillion valuation this year, CEO of top exchange says
Jesse Powell, founder and CEO of Kraken, said Tuesday that the cryptocurrency market would continue to see an “acceleration” of growth. Asked whether he thought the market capitalization of all cryptocurrencies would hit the $1 trillion mark in 2018, Powell agreed. The entire cryptocurrency market will reach a total value of $1 trillion this year, […]
Cryptocurrency price manipulation is ‘unavoidable,’ head of crypto firm says
Price manipulation in the cryptocurrency space is “unavoidable” but will disappear once the market has matured, the head of the cryptocurrency firm NEM said Tuesday. “Price manipulation is not something new. You see it in mainstream markets as well. We are in a very nascent, growing phase of our industry and these things are unavoidable,” […]
FINMA revises “Public deposits with non-banks” circular
The new sandbox concept and the extended time frame for settlement accounts defined in the revised Banking Ordinance entered into force on 1 August 2017. In doing so, the Federal Council sought to reduce unnecessary regulatory obstacles for innovative business models. FINMA has now detailed these new rules in its amended circular “Public deposits with […]
Export insurance made easy: New toolkit for Brokers
A new online guide to help credit insurance brokers work with their clients to access government-backed export insurance has been published by UK Export Finance. How to access export credit insurance: a guide to UK Export Finance’s export insurance policy is UKEF’s first online toolkit for brokers and sets out clearly how they can help […]