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Is Amazon a bank: ramps up lending in challenge to big banks
Amazon.com said Thursday that its Amazon Lending service has surpassed $3 billion in loans to small businesses since it was launched in 2011. Amazon is planning to expand its lending to small businesses in the US, the UK and Japan, in a direct challenge to the big banks which have historically dominated. In the last 12 [...]
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The role of analytics in the new open banking age
What is a bank? The definition is in flux. As the regulatory-driven Open Banking agenda powers innovation and accelerates the fragmentation of a heavily concentrated banking market, incumbent banks must act quickly to stay relevant. As customers look far and wide to satisfy their financial needs, some are questioning the need for a bank at [...]
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Spanish banks launch blockchain network Red Lyra
A multi sector consortium of Spanish companies which are pioneers in their different industries has created the Red Lyra, the first multi sector technology platform in the world based on blockchain or distributed ledger technologies. Red Lyra will develop new systems and services so that any individual or company in Spain, for instance, can identify [...]
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R3 CEV blockchain consortium raises $107 million from members
Financial and technology companies led by Bank of America,SBI Holdings, HSBC, Intel and Temasek Holdings have invested $107 million in R3 CEV which runs a big bank consortium seeking to develop blockchain technology. Despite some high profile leavers in the last few months like JP Morgan, over 40 institutions from more than 15 countries participated in [...]
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BBVA commercialises Open Banking APIs ahead of PSD2
Spanish bank BBVA says it is open for business with its Open Banking programme and is making eight of its APIs commercially available for the first time ahead of the new PSD2 regulation. The launch of BBVA API Market comes after the Spanish bank says it spent more than a year working with developers and businesses to [...]
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