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Open banking, the 'life blood' of fintech and new bank services, is set to arrive in Canada by 2023 calgaryherald.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from calgaryherald.com Daily Mail and Mail on Sunday newspapers.
Open banking, the 'life blood' of fintech and new bank services, is set to arrive in Canada by 2023 financialpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialpost.com Daily Mail and Mail on Sunday newspapers.
Synopsis With Nexus, it’ll be possible before hitting “Send” to establish if the payment will succeed. For instance, by validating that the recipient’s bank account is operational and checking for compliance with anti-money-laundering rules. The uncertainty associated with traditional one-way communication will become history. ThinkStock Photos In the age of smartphones, international wire transfers belong in money museums. In more than 60 countries, including many developing nations, it has become incredibly easy to send funds in real time to someone else over the internet knowing nothing more than their mobile phone number. However, 24/7 fast payment systems, a technology that’s starting to work pretty well for small-value transfers in domestic situations, have no counterpart when money has to jump over national borders. ....
A Revolut spokesperson declined to comment on Nikolay Storonsky s shareholding. Nikolay Storonsky took seven years to finally quit investment banking, working at Lehman Brothers and Credit Suisse Group AG during his 20s before exiting the industry in 2013. As a banker I d already reached the maximum, Storonsky, who traded equity derivatives for both banks in London, told Bloomberg four years later. It became very boring. It was partly career malaise that prompted Storonsky, who s originally from Russia, to co-found Revolut Ltd., which provides online financial services. Last week, Revolut raised $800 million from investors, including SoftBank Group Corp. and Chase Coleman s Tiger Global Management, at a $33 billion valuation. At that level, Storonsky s stake is worth about $6.7 billion, according to the Bloomberg Billionaires Index. ....