IBSi podcasts for insights and discussions from the world of FinTech and Banking. Listen in to what’s trending in the ever-evolving financial industry.
Ep511: BaaS and embedded finance – what are the benefits?
Omar Mansur, Enterprise Lead Global Projects, Codebase Technologies; Dr Jasmin B Gupta, CEO & Co-Founder, LXME
You can’t have one without the other! Embedded finance may be defined as offering access to a range of financial services and solutions via a merchant website on a customer journey that is not interrupted by the need to leave the site you are on to go to that of a financial institution. Banking as a Service (BaaS) is the technology solution that makes this seamless experience for the consumer possible. Robin Amlôt of IBS Intelligence discusses the potential of both embedded finance and BaaS with Omar Mansur of Codebase Technologies (pictured) and Dr Jasmin B Gupta, CEO and Co-Founder of LXME, India’s first financial platform for women.
Ep510: Taking the long-term view – fixed rate mortgages are coming to the UK
Arjan Verbeek, CEO & Co-Founder, Perenna
The UK’s newest bank, Perenna, has been awarded a UK banking licence ‘with restrictions’ by the Prudential Regulation Authority and the Financial Conduct Authority. This is the penultimate step before a full banking licence is granted. When that happens, which the bank expects in Q1 2023, it will begin offering long-term fixed rate mortgages (30-year, 95% LTV) in the UK housing market. These are new products in the UK and with housing affordability a constant issue, are likely to prove popular. Robin Amlôt of IBS Intelligence speaks to Perenna CEO and Co-Founder Arjan Verbeek about the bank’s plans and proposed products.
Ep509: Building a bank in Central Asia, Alif aims to be an Islamic FinTech unicorn
Mahmood Shamsher Ali, Pakistan Country Representative, Alif Bank
Alif is a Central Asian FinTech operating as a full-fledged bank in Tajikistan and as an e-commerce and FinTech company in Uzbekistan. The company, originally established in 2014, has a full banking licence in Tajikistan and a payments licence in Uzbekistan. It has also applied for a digital banking licence in Pakistan – one of 20 applicants for 5 licences on offer. Alif now has more than 1 million users and, for example, a market share of more than 50% of all Visa payments in Tajikistan. The group’s ambition is to become a global Islamic FinTech unicorn. Robin Amlôt of IBS Intelligence discusses Alif’s ambitions with the bank’s Pakistan Country Representative, Mahmood Shamsher Ali.
Ep508: What are the benefits of migrating treasury services onto the cloud?
Serge Tohme, Managing Director EMEA, Finastra, & Gary McDermott, Treasurer, The Co-operative Bank
The Co-operative Bank selected Finastra Kondor in the cloud, available via Microsoft Azure, to upgrade its treasury infrastructure and automate manual reporting and processes. Finastra’s focus on ESG concerns fits with The Co-operative Bank’s stance on ethical banking. Moving from an on-premises model to a cloud-based managed service is a key part of the bank’s operational strategy for treasury activity. Robin Amlôt of IBS Intelligence discusses the attractions of a cloud-based solution with Serge Tohme, Managing Director EMEA, Finastra, and Gary McDermott, Treasurer, The Co-operative Bank (pictured).
Ep507: How privacy-enhancing technologies can leverage data to unlock value and fight financial crime
Ellison Anne Williams, CEO & Founder, Enveil
Privacy-enhancing technologies for secure data search protect data while it's being used or processed. The development of privacy-enhancing technologies is a hot topic for financial services. The UN estimates that up to $2 trillion of cross-border money laundering occurs each year. Greater information sharing and collaborative analytics among financial organisations could transform the detection of this activity in a secure manner without compromising jurisdictional requirements. Robin Amlôt of IBS Intelligence speaks to Ellison Anne Williams, CEO and Founder of Enveil about the potential for secure data usage.
Ep506: The deadline for the implementation of ISO 20022 is fast approaching
Jacob Rider, Head of Payments, Projective
November 2022 marks the point of migration for some of the top global payment infrastructures to ISO 20022, an international standard for exchanging electronic messages between financial institutions, covering cards, payments, securities, FX and trade. Most banks, corporates and payments companies use SWIFT MT financial messaging for transactions, which will migrate over to the new system and eventually come to an end in 2025. Robin Amlôt of IBS Intelligence discusses the coming of ISO 20022 with Jacob Rider, Co-Head of Projective’s Payments Practice.