Saudi Arabia’s open banking strategy a game-changer

Initiative enables customers to securely share their data with third parties CAIRO: Saudi Arabia’s embracing of open banking has transformed the region’s financial ecosystem, according to a top fintech CEO. In an interview with Arab News, Abdulla Al-Moayed, head of Tarabut, praised the Kingdom’s central bank for its inclusive regulatory impact on the financial sector. In…

House Passes Financial Innovation and Technology for the 21st Century Act with Overwhelming Bipartisan Support

Today, the U.S. House of Representatives passed H.R. 4763, the “Financial Innovation and Technology for the 21st Century Act,” in a watershed moment for the U.S. digital asset ecosystem. FIT21 provides the robust, time-tested consumer protections and regulatory certainty necessary to allow digital asset innovation to flourish in the United States. “Today, the House took a…

Jordan : CBJ establishes Fintech academy to boost innovation in banking sector

Governor of the Central Bank of Jordan (CBJ) Adel Sharkas has announced the establishment of the Jordanian Financial Technology Academy “Fintech” under the umbrella of the Institute of Banking Studies. Sharkas, during the launching ceremony, stressed that this initiative embodies the bank’s commitment to embracing technological advancement and enhancing innovation in the financial and banking…

Ghana – BoG executes first cross-border transaction using eCedi (CBDC)

The country has successfully executed its first cross-border trade transaction using digital credentials, the eCedi central bank digital currency (CBDC), and a Singaporean stablecoin.The landmark pilot was part of Project DESFT (Digital Economy Semi-Fungible Token), a collaborative initiative between the Bank of Ghana (BoG) and the Monetary Authority of Singapore (MAS).Addressing the launch event at…

Solutions: Tackling fintech woes through Fintech-as-a-service (FaaS) solutions

Fintech-as-a-service (FaaS) solutions have enabled small enterprises to deploy solutions, facilitating their payment processes and expanding their product reach globally without the burden of developing an in-house, proprietary payment gateway. Joel Tay, CEO of Soft Space Sdn Bhd, believes that with FaaS, businesses are able to adopt digital payments while helping financial institutions better understand…

Danske Bank invests in United Fintech and joins board to digitally support its Forward ’28 strategy

Joining United Fintech’s circle of institutional investors, Danske Bank takes a seat at the board of the leading industry-neutral Digital Transformation Platform alongside BNP Paribas and Citi to support the bank’s Forward ’28 strategy from a digital frontier. A move signalling that shared collaboration is the way ahead for financial services as global banking enters…