Saudi Arabia unveils open banking framework
Saudi Arabia's central bank has published an open banking framework, setting out legislation, regulatory guidelines and technical standards.
Singapore and India Sign Fintech Agreement To Drive Innovation
The Monetary Authority of Singapore (MAS) and India’s International Financial Services Centres Authority (IFSCA) have agreed to facilitate regulatory collaboration and partnership in fintech. The ‘Fintech Co-operation Agreement (CA)’ will see the pair leverage existing regulatory sandboxes in their respective jurisdictions to support experimentation of technology innovations. This includes referral of companies to each other’s regulatory sandboxes and enable […]
Future Platforms: How Banks Can Learn From Pizza Delivery When It Comes to Customer Service
Many comparisons have been made to other sectors and industries when looking at how to improve the modern banking sector. It has become clear that customer communication is one of the biggest necessities for any financial service to succeed, not just a bank; with this in mind, what lessons can be learnt from pizza delivery […]
How Optimising Cross-Border Payments Can Help EU Businesses Maximise Global Sales
Online retail has taken over the world. Over a quarter of the global population is now shopping online and the global e-commerce market is expected to reach $5.55trillion in 2022. Accelerated by the pandemic, consumers have become used to – and expect – the ease, convenience, and variety offered by e-commerce. Gina Archbold is senior sales […]
Singapore Bank DBS Unveils Self-Directed Crypto Trading
Singapore-headquartered DBS has launched a self-directed crypto trading function for accredited wealth clients to trade cryptocurrencies. Widening access to DBS digibank provides additional access to DDEx, one of the world’s first bank-backed digital exchanges. Previously, crypto trading on DDEx was limited to corporate and institutional investors, family offices and clients of DBS Private Bank and DBS Treasures Private Client only. […]
Shopify cuts 10% of workforce
The layoffs are an acknowledgement that Shopify’s plan to rapidly expand as the pandemic waned has not worked, as inflation and fears of recession dampen ecommerce growth. Canadian ecommerce firm Shopify Inc. is cutting about 10% of its workforce. The Shopify cuts come with acknowledgment from CEO Tobi Lutke that the company’s decision to expand rapidly…
Amazon revenue: Ecommerce sales drop 4% in Q2
While Amazon’s revenue from its core ecommerce business declined, the company’s leadership team suggested things might be better than they first appear. Amazon.com Inc. reported total revenue in the third quarter of $121.23 billion. That’s a jump of 7% from a year earlier and well above the $119.09 billion that analysts had expected. But ecommerce […]
Walmart seeks UK sellers for its online marketplace
Walmart Inc. (No. 2 in the 2022 Digital Commerce 360 Top 1000) is seeking United Kingdom retailers to join its online marketplace to give British businesses another ecommerce alternative to Amazon.com Inc. (No. 1) and eBay Inc. Approved British sellers will be able to sell their goods on Walmart.com, which is visited by more than 120 million people […]
Chinese online shoppers still covet Western goods
51% of Chinese shoppers who have purchased foreign products online in the past year say they will buy more Western goods in the year ahead. Product quality is the main reason they buy goods from the West, according to the survey of 1,000 consumers who shop on the Tmall Global marketplace for foreign brands. […]
Shopify and Twitter in deal to expand merchants reach on social media
Shopify merchants can now display as many as five products on their Twitter profile or use Twitter Shops, a pilot feature that lets vendors advertise as many as 50 products in a tab linked to their profile. Shopify and Twitter announced a deal to let Shopify merchants sell on the social-media platform. It’s the latest in […]
