Tag Archives: banking

Nuapay expands its Open Banking platform throughout Italy and Germany | Instant News


Open banking pioneer Nuapay, empowered by Sentennials, today announced the expansion of open banking payment capabilities to German and Italian banks.

The Nuapay expansion will allow German and Italian partners to offer an open banking payment solution, which supports seamless 2-account payments for their customers.

The launch connected 308 banks in Italy and 435 banks in Germany to the Nuapay Open Banking platform, connecting 134 million European accounts and reaching 98% and 70% of payers in each country. This adds to Nuapay’s existing open banking connections in the UK and France, which account for more than 90% of payers in these markets. In the coming months, Nuapay’s payment integration will expand to other European markets, including Spain, making it one of the leading open banking payment platforms in Europe.

Germany has long shown a preference for cash over digital alternatives. However, the pandemic saw a shift in consumer preferences indicating that the market is ripe for innovation.

Meanwhile in Italy, even before the pandemic hit, the government was trying to increase the use of digital payments by citizens to tackle cash-related fraud. Before the pandemic, 86% of Italian transactions were conducted using banknotes and coins, according to central bank estimates. However, research shows that the market has seen a staggering 80% increase in mobile payments in 2020 compared to 2019. The government is also encouraging consumers to use digital payments with a Christmas cashback campaign. The cashback initiative launched over Christmas asks users to register their payment method on the IO app – a new government app to provide access to public services and benefits – to receive a 10% automatic refund on every transaction from the state.

Nick Raper, Director of Nuapay, comments: “Allowing access to safe and efficient Open Banking payments in Germany and Italy came at a perfect time as the pandemic put the final nail in the coffin. Access to Nuapay’s Open Banking connection, through our platform, will enable businesses to avoid high card payment fees and provide customers with safer payment options. As Nuapay is the only Open Banking provider with a fully inclusive payment solution, including integrated money transfers, refunds, recurring payments, full installment and reconciliation plans, partners are empowered to provide customers with innovative payment experiences, and expand their service offerings. . ”

Nuapay’s Open Banking Platform also received “Best Use of Open Banking in Merchant Payment Ecosystems” at the recent Merchant Payment Ecosystems Conference (MPE), which is usually held in Berlin annually. The award, announced at a virtual conference on February 23, 2021, recognizes the features and functionality built into the Nuapay Open Banking platform that enables Payment Service Providers (PSP) and Merchants to reap the benefits of open banking payments.

Demonstrating its continued commitment to growing its payments business across Europe, Nuapay has obtained a second EU Payment Institution license from ACPR – the French banking regulator. The license allows Nuapay to continue to offer its payment services in a post-Brexit world to more than 1,000 EU clients.

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Texas Blackout Raises Australian Banks To $ 215 Million | Instant News


Freeze it plunging millions of Texans into darkness rippling through energy markets in unpredictable ways, yielding financial gains for Australian banks and severe suffering for other companies caught in the disruption.

Extreme weather froze wind turbines and oil and gas wells, shut down oil refineries and pushed power plants out of operation, sending shocks through energy markets. Wholesale electricity prices skyrocketed, as did spot prices for natural gas in Texas, Oklahoma, Kansas, and Arkansas.

The turbulence brings profit to commodity traders at Macquarie Group Ltd. Australia, whose ability to deliver gas and electricity across the country allows it to take advantage of soaring demand and prices in states like Texas.

The bank raised its guidance on Monday for revenue this year through March to reflect windfall winds. It said that the net profit after tax would be 5% to 10% higher than for fiscal year 2020. That equates to an increase of up to 273.1 million Australian dollars or the equivalent of approximately $ 215 million. In an earlier guide, issued Feb.9, Macquarie said it expects profits to drop slightly in 2020.

“Extreme winter weather conditions in North America have significantly increased short-term client demand for Macquarie’s ability to maintain critical physical supplies across the commodity complex, and in particular in relation to gas and electricity,” the bank said.

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Credit Suisse Booked Losses Despite Encouraging Investment Bank | Instant News


Credit Suisse Group AG said a strong start to the first quarter boosted its growth ambitions this year large legal fees and impairment pushing it to a fourth quarter loss.

The Swiss bank reported a loss of 353 million Swiss francs Thursday, the equivalent of $ 393 million, for the fourth quarter. Analysts estimated the loss to be around 566 million Swiss francs.

Even in a difficult year, Credit Suisse fared better than many European rivals as its loans in Switzerland and the global wealthy were caught in the pandemic. Together with Wall Street competitors, his investment bank booked additional fees from clients trading in the volatile market last year and from companies that raised capital or needed deal advice.

On Thursday, it said the investment banking arm experienced a more than fivefold jump in pretax profit to $ 318 million in the fourth quarter, with the largest revenue contribution coming from helping companies increase their equity and bond financing.

Fourth quarter profit before tax also rose in Credit Suisse Asia-Pacific division, by 18% to 237 million Swiss francs, while revenue and profit before tax fell at Swiss banks and international wealth management units.

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Yodlee launches credit decision-making technology to Australia and New Zealand | Instant News


Envestnet | Yodlee (NYSE: ENV), the leading data aggregation and data analytics platform for digital financial services, today announced the launch of its dedicated Australia and New Zealand responsible lending product, Envestnet | Yodlee Credit Accelerator.

This offering will enable financial service providers to access fast and accurate consumer data to make smart lending decisions.

The current credit evaluation process is manual, fraud can occur, is vulnerable to the use of outdated bank reports, resulting in high operational costs and inaccurate reports. For Australian and New Zealand financial institutions and FinTech innovators, Envestnet | Yodlee Credit Accelerator can quickly and cost-effectively provide a complete, accurate, and real-time financial picture of borrowers. This technology takes advantage of flexible, consumer-permissible and secure data acquisition that enables financial service providers to produce comprehensive reports that include income and expense summaries that demonstrate compliance with Responsible Lending guidelines. It also helps to identify major credit risk and lifestyle factors, such as whether the applicant has children, eats out regularly, pays bills on time or pays large amounts of interest on their credit card.

Powered by Envestnet | A market-leading aggregation of core data and Yodlee’s machine learning capabilities, Credit Accelerator categorizes and enriches income, expenses, and transfers, creating deeper and more accurate credit insights. This intuitive technology will allow for multiple, automated and curated feedback points, which will increase categorization, and adapt it to credit use cases and internal schemes or regulations. In addition, there are options for lenders to build Envestnet | Yodlee’s advanced API technology into their application or service.

For consumers, the automatic and easy retrieval of financial data from this technology will eliminate the need to submit written reports. This will also increase confidence in the accuracy of loan decisions, knowing lenders can see their complete financial picture. Subsequently, reports were generated by Envestnet | Yodlee Credit Accelerator will increase the speed of receiving loans, because credit decisions and loan disbursements can be tracked quickly with this complete and easily accessible financial picture. To date, obtaining a complete understanding of the applicant’s expense and income history to meet Responsible Loan guidelines can take weeks, even months. Envestnet | Yodlee Credit Accelerator can pull up and present data reports in less than ten minutes.

Poskitt Team, Country Manager, Australia and New Zealand at Envestnet | Yodlee said “the responsible lending landscape in Australia and New Zealand is in a potential transition period with governments proposing to write off their responsible lending obligations (RLOs) to boost economic growth after COVID-19. Therefore, the need to use technology and data to help make accurate and insightful decisions has never been higher. This new technology provides immense strength to financial service providers and consumers as they can feel secure knowing that accurate decisions are being made. ”

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Covid 19 coronavirus: Eight border checkpoints active and running as Auckland begins to lock down completely | Instant News


Traffic was jammed at a highway checkpoint on Auckland’s southern border as police assessed every vehicle entering and exiting the area.

Drivers were warned to expect long delays due to police officers’ highway checkpoints around the Auckland perimeter to impose increased travel restrictions.

The change in the alert level from 1 to 3 overnight has led to the re-emergence of the strict criteria for road movement into and out of the region.

Large queues are now forming around Mercer heading south with traffic jammed along the Waikato Toll Road almost back to Pokeno.

While police said there were no significant waiting times, TimeSaver Traffic reported that the Mercer road block was by far the biggest choke point in the area causing long traffic queues.

There were also brief delays at Mangatawhiri and Brynderwyn.

All inter-regional travel to and from Auckland is now restricted to essential movements until 11:59 pm Wednesday.

People who wish to cross now need to carry official documents issued by Government departments.

Eight checkpoints on the outskirts of Auckland will stop vehicles and question drivers, ensuring there is no unimportant movement throughout the area.

The New Zealand Transport Agency Waka Kotahi warned people crossing the border that they had to wait.

“Please expect delays at the State Highway police checkpoint which operates 24/7 both north and south of Auckland each day until the warning level changes.

“If you are traveling for an important purpose, or have been exempted from travel, please be patient at the checkpoint with the expected queues.

“Allow extra time for your trip and make sure you have the supporting documentation needed for the presentation to help alleviate delays.”

This time the border has been moved away from the August lockdown with checkpoints at Wellsford to the north and Bombay Hills to the south.

The final checkpoints are at Brynderwyn at the intersection of State Highway 1 and 12 at the north and south ends of Meremere on State Highway 1 (north, on Oram Rd), and Mercer (south, on Koheroa Rd) on State Highway 1 and Mangatawhiri ( on Koheroa Rd) on State Highway 2.

This has led to a degree of confusion with residents living in the reassigned checkpoint zones in Waikato and Northland unsure whether they are at alert level 2 or 3.

Police say they will be highly visible across the region to provide bail and to educate people and make sure they are aware of the restrictions that apply.

Commissioner Andrew Coster said this was not new territory for the police or the community, and lessons learned from the past have allowed staff to move quickly to respond to changing levels of vigilance.

“We will continue to work with a tiered response, starting with education. We once again ask the public to be safe and comply with the alert level limits for their territory.

“In Auckland, we will continue to be visible and provide reassurance to the community, and to checkpoints around the boundaries of the Super City in the region.”

Those who need to cross the border will need to seek permission from the government website Unite Against Covid-19 which warns that travel will be strictly restricted.

People are told to apply for official business travel documents.

“Exceptions will be limited to critical activity only. Requests must meet criteria and many requests will not be approved,” the website suggests.

For those who wish to cross the border for personal business, the form will be processed by the Ministry of Health.

People are advised to check if they are eligible to travel between different regions of the country.

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