Latest News
Privat 3 Money and ClearBank Redefine Financial Solutions for a Global Tomorrow
LONDON, May 23, 2024 /PRNewswire/ — Privat 3 Money (P3) is enhancing its established partnership with ClearBank, a cloud-based clearing bank, to revolutionise financial solutions for both corporates and individuals worldwide.
Seamless Multi-Currency Transactions
In collaboration with ClearBank, Privat 3 Money introduces a cutting-edge multi-currency account, supporting transactions in EUR, USD, CHD, and CAD, all under a single IBAN.
This innovation simplifies national and international transactions, eliminating the need for multiple accounts and reducing foreign exchange complexities.
Key Features Designed to Elevate your Financial Experience
Single IBAN Convenience
- One IBAN for all currencies streamlines international transactions, catering to both individual and corporate needs, eliminating the need for separate accounts for each currency and reducing foreign exchange.
User-Friendly FX Solutions
- Privat 3 Money’s user-friendly FX solutions ensure seamless and superior transactions, providing an effortless and smooth alternative for all your financial needs.
API-Driven Technology
- The collaboration with ClearBank introduces API-driven technology, empowering users with streamlined operations and enhanced control over financial activities.
Crafting the Future of Financial Solutions
Whether you’re a globetrotter, an online enthusiast, a global market explorer, or a business owner navigating cross-border transactions, Privat 3 Money and ClearBank have crafted the next generation of financial features just for you. This innovation is more than just a financial tool; it’s a lifestyle upgrade, redefining the way you experience and manage your finances.
About Privat 3 Money
Privat 3 Money, a UK-based digital financial alternative, caters to both individuals and corporates globally. Through its innovation, P3 has positioned itself as a trailblazer in the WealthTech industry, uniting banking-like services with robust trading capabilities. Reda Bedjaoui, Founder of Privat 3 Money, describes it as “An ultimate one stop shop dedicated to filling a void in the market delivering a bespoke, client first digital proposition.”
About ClearBank
ClearBank is a purpose-built, technology-enabled clearing bank. Through its banking licence and technology solutions, ClearBank enables its partners to offer real-time payment and innovative banking services to their customers.
For inquiries, please contact: [email protected]
Photo – https://mma.prnewswire.com/media/2418306/P3_X_ClearBank.jpg
View original content:https://www.prnewswire.co.uk/news-releases/privat-3-money-and-clearbank-redefine-financial-solutions-for-a-global-tomorrow-302151732.html
Latest News
Reserve Bank of Australia set to conduct “holistic review” of retail payments regulation
The Reserve Bank of Australia (RBA) is set to review the nation’s retail payments regulation, aiming to encourage the payments industry to address efficiency, competition, and safety issues independently.
Ellis Connolly, head of payments policy at the RBA, announced this review during his speech at the Merchant Risk Council Conference in Melbourne this week.
The review will commence after the Australian government completes its evaluation of the current Payment Systems Regulation Act 1998 (PSRA), which defines the RBA’s regulatory powers.
The initial phase will update the definitions of a payment system and participant to ensure newer players can be regulated if needed. It will also assess prominent systems and participants in online retail payments, such as payment gateways, facilitators, digital wallet providers, and buy now, pay later (BNPL) services.
Following this, the RBA will conduct a comprehensive review of retail payments regulation, focusing on the transparency and cost of payment services for consumers and merchants, surcharging frameworks, mobile wallets, and cross-border payments, Connolly confirmed.
The central bank plans to address policy issues related to card payments, including the cost of card payments for end users, least-cost routing for online debit card transactions, competitive payment services among e-commerce platforms, and the introduction of tokenization standards for online card payments.
Regarding BNPL services, Connolly disclosed the RBA’s intention to revisit no-surcharge rules, potentially allowing retailers to pass operational costs on to BNPL consumers.
“In 2021, the RBA concluded that merchants should be allowed to surcharge BNPL services,” Connolly stated. “The RBA’s view was that the benefits of no-surcharge rules for supporting new market entrants were outweighed by the costs in terms of efficiency and competition in the payments system. However, it was unclear if the RBA had the authority to require the removal of these rules. After the PSRA reforms, the RBA plans to reexamine this issue as part of a broader review to determine if the surcharging framework remains fit for purpose.”
Source: fintechfutures.com
The post Reserve Bank of Australia set to conduct “holistic review” of retail payments regulation appeared first on HIPTHER Alerts.
Latest News
RBI finalises fintech self-regulation framework
The Reserve Bank of India (RBI) has finalized the framework for recognizing self-regulatory organizations (SROs) in the fintech sector.
On January 15, the RBI released a draft framework for public comment, which has now been reviewed and finalized as the “Framework for Recognizing Self-Regulatory Organizations for the FinTech Sector.”
This initiative aims to encourage fintech companies to establish and adhere to their own industry standards and best practices through SROs. To be recognized as an SRO, entities must be set up as not-for-profit companies, meet specific net worth and infrastructure requirements, and maintain a non-discriminatory membership fee structure. Additionally, SROs are responsible for monitoring and enforcing compliance among members, establishing standards, and implementing grievance redressal mechanisms.
SROs will serve as a bridge between the industry and the RBI, providing sectoral insights, updating the RBI on developments, and helping to create a regulatory environment that fosters innovation while ensuring consumer protection. Interested entities can apply for recognition through the RBI’s official website.
Source: law.asia
The post RBI finalises fintech self-regulation framework appeared first on HIPTHER Alerts.
Latest News
Treasury Prime and FS Vector team up to enhance BaaS compliance
Treasury Prime, a leading embedded banking software company, has announced a strategic partnership with FS Vector, a regulatory advisory firm.
This collaboration will integrate FS Vector’s regulatory compliance training platform, Headmaster, into the Treasury Prime Partner Marketplace.
The partnership aims to bolster the compliance capabilities of fintechs and banks within Treasury Prime’s network. By focusing on compliance, this collaboration will provide valuable training resources and ensure reliable consulting support as needed.
Treasury Prime connects banks and enterprise partners seamlessly, offering embedded banking software and a robust partner marketplace. FS Vector specializes in building, launching, and scaling Banking-as-a-Service (BaaS) platforms, providing compliance support and regulatory training.
Through this partnership, Treasury Prime will offer FS Vector’s Headmaster platform, which delivers comprehensive regulatory education and tracking for fintech companies. The platform ensures that fintechs are well-prepared for compliance obligations, fostering successful BaaS relationships.
Kyle Costello, Treasury Prime’s head of partnerships, stated, “FS Vector’s team has worked with fintechs and banks in Treasury Prime’s network over the past few years and has played a vital role in ensuring they are ready for their BaaS journey. With sponsor banks more focused on compliance than ever, we’re thrilled to officially partner with FS Vector to bring valuable compliance training resources to our network and peace of mind for our customers that a reliable consulting firm is ready to step in when needed.”
FS Vector Principal Justin Muscolino emphasized the importance of compliance in BaaS relationships. “Successful BaaS relationships hinge on a shared understanding of and respect for the compliance obligations that a bank and their fintech program are subject to. Our Headmaster platform provides fintechs with the education that sets these relationships up for success in a cost-effective way. We believe that compliance and risk management training should be something that employees enjoy taking, and with the Headmaster, fintechs have a user-friendly platform that makes training relevant, accurate, and role-specific.”
Source: fintech.global
The post Treasury Prime and FS Vector team up to enhance BaaS compliance appeared first on HIPTHER Alerts.
-
Latest News6 days ago
TradeFlow Capital Management advances collaborations with Obligate through further USDC-denominated eNote™ issuances
-
Latest News6 days ago
TradeFlow Capital Management advances collaborations with Obligate through further USDC-denominated eNote™ issuances
-
Latest News6 days ago
Fisher Investments Selects Advent International and ADIA as Strategic Partners in Minority Common Stock Investment
-
Latest News6 days ago
TradeFlow Capital Management advances collaborations with Obligate through further USDC-denominated eNote™ issuances
-
Latest News6 days ago
Buzz Dealer Set to Make a Splash at iFX Expo International 2024 In Limassol
-
Latest News5 days ago
Millionaires on the Move: Where are the World’s Wealthy Migrating to and from in 2024?
-
Latest News6 days ago
Personetics Recognized by Celent as a Global Leader in Personal Financial Engagement (PFE) for Retail Banking
-
Latest News6 days ago
PSP Investments delivers solid financial returns in a complex investment environment