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Banking Sector Fights Back Against Fintech Rivals
Citigroup’s announcement this week of plans to develop its own consumer-payments platform is the latest indication of a fightback by the banking establishment against fintech rivals that threaten its most lucrative markets.
Revolut Introduces Auto Currency Exchange
Digital bank Revolut announced this week the introduction of a significant new feature: auto currency exchange based on targeted exchange rates.
Messaging Apps to Take Slice of Remittance Market Using Their Own Cryptocurrencies
Users of popular messaging apps, including WhatsApp and Line, might soon be able to make cross-border payments effortlessly. In a move that will further disrupt the payments industry, the creators of such apps, including Facebook, are working hard to develop their own digital currencies that can be transferred to anyone in a user’s contact list.
Japan Allows Fintech Payments Specialists to Compete with Banks
The Japanese FSA has announced it will finally remove a ¥1 million (US$9,000) cap on cross-border money transfers handled by non-banking entities, paving the way for a major overhaul of Japan’s remittance industry.
BER Australian Scholarship 2018 Winner Announced
Xiong Xiao, a PhD candidate currently studying and teaching at the University of Western Australia is awarded BestExchangeRate.com's first scholarship for foreign students in Australia.
