Weekly News Highlights – 28 July 2022

Stay up to date with the latest news from fintech! This week, we bring you updates and developments on partnerships, banking, crypto, open banking and more. Enjoy reading!

InvestCloud to help Dutch bank Rabobank improve digital financial planning (FinTech Global)
Digital transformation platform InvestCloud will help Netherlands-based bank Rabobank provide its customers, both private and retail clients, with digital financial planning tools. As part of the partnership, Rabobank clients will be able to create highly customisable life plans, allowing advisors to guide their clients to achieve their financial goals without needing to create time-intensive and costly proposals. Read more

ING to wind-up retail banking operations in the Philippines by end of year (FinTech Futures)
Dutch financial services firm ING has announced it plans to end its retail banking operations in the Philippines before the end of 2022.ING launched its retail business in the Philippines in 2018 and has had a presence in the country since 1990, serving corporate and institutional clients. Its retail banking operations in the country were intended to lay the groundwork for a wider expansion across Asia. Read more

Santander CIB teams up with SAP to digitise global transaction banking services (FinTech Futures)
Santander’s corporate and investment banking division (Santander CIB) has partnered with SAP Spain to boost the digitisation of the bank’s global transaction banking (GTB) services. The two firms will collaborate to develop “invisible banking” solutions that improve client-to-bank connectivity related to counterparty risk and supply chain analytics. The strategic partnership will provide Santander CIB global customers with financial tools designed to navigate supply chain disruptions and accelerate decarbonisation efforts. Read more

MAS Join Hands With Google Cloud to Drive Climate Fintech Innovation in Asia (FinTech Singapore)
The Monetary Authority of Singapore (MAS) and Google Cloud have jointly launched the Point Carbon Zero Programme to drive the innovation, incubation and scaling of climate fintech solutions in Asia over the next three years. The programme is a collaboration under MAS’ Project Greenprint and seeks to use climate fintech solutions to bolster financial sector access to accurate and granular climate-related data. This will allow for more efficient deployment of capital towards green and sustainable projects. Read more

Network International Introduces WhatsApp Banking Across Africa With Infobi (The FinTech Times)
The Dubai-headquartered digital payment solutions provider Network International intends to bring WhatsApp for Business banking services to financial institutions across Africa through a landmark collaboration with Infobip. The WhatsApp Business API is able to host real-time account balances, mini statement reports, latest transaction records and payment transfers. Read more

Germany’s Airbank taps Klarna Kosma for open banking platform (FinTech Futures)
Digital financial management platform Airbank has tapped Klarna Kosma, the fintech arm of buy now, pay later (BNPL) giant Klarna, for its open banking platform. Klarna Kosma says its platform will provide Airbank access to the “world’s largest” international network of banks, supporting its expansion efforts into new markets across Europe and beyond. Airbank will gain secure access to account information from 15,000 banks in 26 countries via a single API integration, opening up its business to global customers. Read more

Cuddle Inc. Brings Transparency to Charity With Crypto Donations (The FinTech Times)
The crypto company Cuddle Inc. has launched a new project that will enable people to make crypto donations to local nonprofit organisations. In this latest form of ethical banking, the project has taken an extremely transparent approach to charity, allowing all donations to be viewed on the blockchain; while additional insights will be available on the company’s website. The solution enables nonprofit organisations to implement a widget on their website that contains an Ethereum address. In this way, anyone can make direct transparent donations that are recorded on the blockchain and be sure that 100 per cent of the intended funds go where they should. Read more

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