Category: Offshore Banks
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Fastcash and Knox Wire Announce $1.2 Billion Global Payment Partnership
Fastcash will utilize Knox Wire to expand their cross-border payment capabilities and streamline the cross-border payment process SÃO PAULO, Dec. 17, 2022 /PRNewswire/ — Fastcash and Knox Wire announce global payment partnership. The collaboration, orchestrated by Zed Network, will power as much as $1.2 billion USD per year in volume. Fastcash leverages a digital gateway that processes cash-ins or…
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What Is Fractional Reserve Banking?
Most large economic systems today use fractional reserve banking to stabilize and grow their economies. With factional reserve banking, banks can lend out deposits with interest to amplify the economy. The Federal Reserve was founded in 1913 to better regulate the banking market so that banks didn’t run out of money and people could get…
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Global B2B Payment Market Trends Report 2022: Technology Trends Such as AI, Block Chain, and Virtual Cards are Transforming the B2B Payment Ecosystem
DUBLIN, Nov. 18, 2022 /PRNewswire/ — The “Global B2B Payment Trends 2022” report has been added to ResearchAndMarkets.com’s offering. The B2B payment market continues to grow, with traditional payment methods still leading In light of the increasing use of digital channels, accelerated by the pandemic, B2B payments revenue is forecasted to witness a single-digit CAGR between 2020 and 2030, as stated…
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Indonesia Towards the Center of Global Sharia Economy
DUBAI, UAE, Nov. 8, 2022 /PRNewswire/ — PT Bank Syariah Indonesia Tbk (BSI) affirmed Indonesia’s commitment to become one of the centers of world Islamic finance, through the introduction of four programs to strengthen this ecosystem in Indonesia and abroad. Minister of State-Owned Enterprises Erick Thohir has led the Ministries preparation of four featured programmes to form this ecosystem. First, developing…
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HSBC launches Digital Receivables Finance capability
Digital application process slashes approval times from months to days LONDON, Oct. 19, 2022 /PRNewswire/ — HSBC has cut the approval process for new Digital Receivables Finance (RF) customers from one to two months to under 48 hours, using a new technology platform. Using the new online application journey, co-created with Trade Ledger, with a few clicks…
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Chaos in the markets: Bank of England takes emergency measures
The UK faces the threat of significant long-term financial instability unless the Bank of England and the UK government work together on a long-term plan to calm markets, warns the CEO of one of the world’s largest financial advisory organizations. The stark warning from Nigel Green of deVere Group comes as the central bank on…
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Canada’s national bill and tax payment infrastructure operated by Dye & Durham remains unaffected by today’s network outages
TORONTO, July 8, 2022 /PRNewswire/ – Dye & Durham Limited (TSX: DND) (“Dye & Durham” or the “Company”), a leading provider of cloud-based efficient workflow software for legal and business professionals, announced today its online payment platform remains fully operational and unaffected by the wireless and internet service outages being reported across the country. Dye & Durham’s national…
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Issuing IDR 5 Billion Green Bond, BRI Reaffirmed as Market Leader of ESG Companies in Indonesia
JAKARTA, Indonesia, June 29, 2022 /PRNewswire/ — Bank BRI (IDX: BBRI) has reaffirmed its commitment to sustainable financing in Indonesia by issuing the Sustainable Environmental Bonds (Green Bond) I Phase I Year 2022, targeting to raise IDR 15 billion and a total issuance of IDR 5 billion for ESG (Environment, Social, and Governance) activities. The fund will be used in accordance with POJK 60/2017 concerning…
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Digital cross-border payment leader PingPong deepens its partnership with JCB
To date, the fintech specialized in cross-border payment has established direct partnerships with all six leading credit card schemes. HONG KONG, June 20, 2022 /PRNewswire/ — PingPong, a leading digital cross-border payment provider, recently entered into a direct partnership with JCB, whereby its Hong Kong-based merchants will be able to receive online payments from JCB cardholders worldwide. With this…