Financial Platform News

News and analysis coverage of financial platforms, ranging from payment processing and credit through to retail banking and investment services.

Grab

Grab expands finance business with consumer loans services and wealth management

Asian ride-hailing business Grab has deepened its financial services push by announcing that it will offer consumer loans services in Singapore and roll-out wealth management produ...

Wirecard

Wirecard: The rise and fall of the German FinTech

German FinTech business Wirecard collapsed back in June when its auditor EY refused to sign off on the 2019 financial accounts, following months of investigation into missing money...

Amazon Warehouse

Expansion: Amazon to open ten new warehouses in India

Amazon’s Indian business has announced that it will open 10 new warehouses in the country. Additionally, the company will begin offering auto insurance, in two moves that wil...

WhatsApp

WhatsApp to partner with more Indian banks

WhatsApp plans to team up with more Indian lenders to expand banking services in rural areas and for lower income individuals, the messaging platform’s country head said.

Wirecard

Prosecutors arrest three in suspected Wirecard criminal racket

Prosecutors have arrested three former executives of German FinTech Wirecard, saying it suspected them of masterminding a criminal racket to fake the company’s financial acco...

Bitcoin

UK to beef up City watchdog powers over crypto-assets

The UK’s finance ministry has proposed giving the City’s watchdog new powers to regulate crypto assets like bitcoin, and also outlined a crackdown on misleading sales l...

Ant Financial

Ant Group lines up dual listing on Hong Kong and Shanghai markets

Ant Group, the FinTech wing of Alibaba Group, has stated that it has begun the process of a dual listing in Hong Kong and on Shanghai’s market, kicking off one of the world&#...

Singapore

Singapore says blockchain payments project is now ready for commercial rollout

Singapore has developed a blockchain-based payments network that could enable faster and cheaper international settlements, authorities have said, noting that the next step was a c...

Wirecard

German prosecutors open Wirecard money laundering probe

German state prosecutors are investigating individuals at Wirecard for suspected money laundering, adding to probes into alleged fraud, balance falsification and market manipulatio...

Google

Deutsche Bank and Google agree a multi-year strategic partnership

Deutsche Bank has said it has agreed a strategic, multi-year partnership with Google to give the German lender access to cloud services and drive innovation in technology-based fin...

WhatsApp

Brazil central bank says WhatsApp payments service faces further review

Brazil’s central bank president has said that Facebook’s messaging service WhatsApp would be allowed to launch its new payments service in the country, but called for p...

European Union

EU banks to take on Visa and Mastercard with new payments system

Sixteen banks from Germany, France and three other euro zone countries said a “truly European” payments system was expected to be up and running in 2022 to fully digita...

Wirecard

Germany passes the buck on Wirecard scandal

Germany’s accountancy watchdog has denied blame for failing to spot problems at collapsed payments firm Wirecard, the latest in a string of agencies to shirk responsibility f...

Crypto

Lithuania dabbles in crypto-coin as cbanks look for ways to fend off Facebook

The Baltic nation of Lithuania is about to issue the first central bank-produced digital coin in the euro zone, part of a project to trial state-backed digital currencies and block...