Tags: Fintech

Visa follows, or leads, AmEx and Mastercard

In late 2016, Visa previewed B2B Connect, its offering-to-be to transform the business-to-business (B2B) payments space. Since then, it has worked at partnering with financial institutions around the world to transform the 2016 vision into a platform that can now process bank-to-bank test transactions ahead of a full commercial launch in mid-2018. Its objectives, and…

BlockEx to partner with OpenText on supply chains

To accelerate BlockEx’s trimming of fat using blockchain, it is partnering with OpenText to use blockchain to make supply chain finance more efficient. OpenText already operates some of the world’s largest supply chains through its Business Network. More than 600,000 companies have connections to its network which exchanges more than 24B business transactions a year.…

Experian claims fraud costs UK £190 billion per year

Credit service agency Experian has reported that the UK loses over £190 billion per year to fraud. That staggering number comes from its Annual Fraud Indicator 2017 report. £190 billion is equivalent to £10,000 per family. It is more than 9% of the UK’s projected GDP for 2017 ($2,496 (£2,080) billion according to Statistics Times).…

Gates Foundation’s Mojaloop adopts ILP

The Bill & Melinda Gates Foundation (Gates Foundation) has released Mojaloop which adopts Ripple’s Interledger Protocol (ILP). Mojaloop is open-source software for creating payment platforms for the unbanked to access digital financial services. Created by the Gates Foundation’s Level One Project, it aspires to level the economic playing field by crowding in expertise and resources to…

Unforeseen dangers of the ‘system’ and in the browser

Enterprises are addicted to systems. Large enterprises doubly or triply so. Such commitment brings with it dangers. Curiously, in a quite different way, the humble browser may be an engine for others to reap benefits (though you might also, under some circumstances). This brief commentary will examine: two instances where the ‘system’ prevents business the…

Mastercard opens access to blockchain API and disintermediates

Mastercard is opening access to its blockchain technology via an API published on ‘Mastercard Developers‘. Mastercard hopes its blockchain solution will enable new ways for consumers, businesses and banks to transact. It claims it is key to the company’s strategy to provide payment solutions that meet all needs of financial institutions and their end-customers. The…

Blockchain-backed market for tradeable insurance policies

fidentiaX is in the developmental phase of creating a blockchain-backed market for tradeable insurance policies. By basing this on blockchain technology it hopes to disrupt the insurance status quo – by empowering policyholders to monetise policies. fidentiaX will focus on building its operations within Asia before executing an global expansion strategy. In Asia, its key…

Cross-border blockchain banking takes a big step forwards, with dangers

IBM  has announced, with technology partners Stellar.org and KlickEx Group. a new blockchain banking solution to help financial institutions address the processes of universal cross-border payments. The design aims to: reduce settlement times lower global payment costs for businesses and consumers. The approach exploits the IBM Blockchain. It seeks to improve the clearance and settlement…

Blockchains will alter the commercial vehicle industry, and more

According to a new Frost and Sullivan Report, blockchains will account for 10–15% of commercial vehicle (CV) industry transactions by 2025. The Report, which covers Heavy, Medium and Light Duty trucks, suggests that an increasing use of blockchain technology will go hand in hand with other advances in CV technologies – such as digital transformation,…