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Royal Bank of Canada (RBC) has completed the acquisition of HSBC Bank Canada in a bid to expand the country’s international banking capabilities.
acquisition, merger, banks, financial services
The US bank regulator OCC has imposed a USD 65 million fine on RBC’s American unit, the City National Bank, over its risk management and internal controls.
regulation, banking, online banking, mobile banking, digital banking, financial services, financial institutions
The Office of the Superintendent of Financial Institutions (OSFI), Canada’s banking regulator, has announced that it intends to increase its focus on money laundering issues.
AML, money laundering, transaction laundering, CFT, online security
Building onto our previous reporting related to the partnerships that took place in Q3 2023 within the payments and commerce space, this analysis focuses on the banking and fintech industry.
banking, fintech, fraud prevention, financial crime, Open Banking, Open Finance, crypto, web3, The Paypers Quarterly Analysis series
Xero has launched two new payment features powered by Open Banking and e-invoicing, in order to optimise the way UK-based SMEs manage their cash flow.
product launch, partnership, Open Banking, Open Finance, online banking, digital banking, mobile banking, financial services, financial institutions
Royal Bank of Canada (RBC) has partnered with global small business platform Xero to help businesses automate payments to suppliers.
partnership, banks, payments , SMEs
The US-based foundation of open innovation in financial services FINOS has announced the formation of an open standard project.
partnership, regulation, financial services, financial institutions, cloud services, compliance, risk management
CACEIS, a subsidiary of Crédit Agricole group and Santander, has purchased the European asset servicing activities of RBC Investor Services and its associated Malaysian centre of excellence.
acquisition, banking, banks, FX , expansion
SWIFT has announced the completion of a sandbox test for its API-based central bank digital currency project in collaboration with 18 banks.
CBDC, regulatory sandbox, banks, API
The Paypers tackled the M&As from Q4 2022, focusing on the trends in the payments and fintech industry to identify the key elements that draw businesses towards the acquired companies.
merger, acquisition, fintech, payments , digital banking, fraud prevention, digital payments, cryptocurrency, online payments, blockchain, The Paypers Quarterly Analysis series
HSBC Holdings’s subsidiary HSBC Overseas has entered into an agreement to sell its banking business in Canada to Royal Bank of Canada, subject to regulatory and governmental approvals.
acquisition, banks, banking, online banking, central bank
Richard Hartung, Research Director, Singapore at Payments Consulting Network, explains how players that want to gain competitive advantage may benefit by being early movers in developing innovative eco-friendly card programmes.
Payments Consulting Network, sustainability , credit card, debit card, carbon footprint
CanDeal, an operator of Canadian market and infrastructure services, has partnered with five of Canada's largest domestic banks to deliver a Know Your Client (KYC) solution to the Capital Markets Industry.
banks, partnership, KYC, central bank, money laundering
Royal Bank of Canada (RBC) and US-based financial services company Plaid have announced a mutual data access agreement, allowing RBC’s clients to share their financial data securely via a direct API with apps and services available on Plaid’s platform.
partnership, financial services, API, financial data, financial institutions, online banking, digital identity, online security
Royal Bank of Canada (RBC) has teamed with payments solution provider MYPINPAD to integrate the latter’s bank-grade Mobile Banking Authentication SDK (MBAS) into RBC’s mobile banking app.
partnership, identity verification, two-factor authentication, mobile payments
Royal Bank of Canada (RBC) has agreed to buy Brewin Dolphin, a UK-based wealth manager, for GBP 1.6 billion.
banks, acquisition, merger, financial services, financial institutions
The Financial Data Exchange (FDX) has reported 28 million consumer accounts now use its FDX API for Open Finance and Open Banking data sharing.
financial data, API, data sharing, Open Banking, Open Finance
Canada-based VC firm RBC Ventures has released Mydoh, a money management app and Smart Card aimed for the financial education of the young public.
product launch, mobile payments, fraud prevention, Visa, prepaid card
Standard Chartered and Intermediate Capital Group have closed an initial EUR 1.45 billion ESG linked subscription facility for ICG Europe Fund VIII.
partnership, funding, ESG, investment
Mike Woods, Konsentus, PRETA, OBE, Open Banking Europe, Open Banking, regulation, financial institutions, fraud, TPP checking, Konsentus Verify, TPPs, banking, fintech, Open Finance, expansion, PSD2, acquisition, identity checking