Global instant payments set to hit $58tn by 2028, outpacing card transactions
Instant payments, where funds are received in 10 seconds or less and payment confirmation is available within a minute, are poised to redefine the financial transactions landscape.
Brite Payments and Shopware unite to revolutionise merchant checkouts in Europe
Brite Payments, a Stockholm-based second-generation FinTech, has partnered with Shopware, a leading open-source e-commerce platform that boasts a significant presence in Europe, especially in the German market.
PayU injects $5m into BRISKPE, boosting India’s cross-border payment capabilities
BRISKPE, a Mumbai-based cross-border payments platform, has successfully secured a $5m seed investment from FinTech giant PayU.
Visa launches open bankng offering in the US through Tink
Visa, a global payment provider, has announced the launch of its open banking offering in the US, through its recently acquired vendor Tink.
Visa and AWS partner to revolutionise global digital payments landscape
Visa, a global leader in digital payments, has announced its integration into the AWS Partner Network (APN), a global community that utilizes AWS technologies to create diverse solutions for customers.
Chilean FinTech pioneer Fintoc secures $7m for bold Mexican market expansion
Chilean FinTech startup Fintoc, which specialises in instant payments via APIs, has successfully raised $7m in a Series A funding round. The investment is earmarked...
Paystand acquires Teampay to redefine B2B payments
Paystand, the global leader in blockchain-enabled B2B payments, has acquired Teampay, an industry-leading spend management software.
Elavon and FreedomPay partner to transform hospitality and retail payments in Europe
Elavon, a prominent global payments provider, announces an expanded collaboration with FreedomPay to transform payments for hospitality and retail in Europe.
Zilch selects Amazon Web Services to accelerate AI innovation
Zilch, the world’s first ad-subsidised payments network, has extended its collaboration with Amazon Web Services (AWS) to expedite the implementation of Artificial Intelligence (AI) advancements throughout its offerings.
![Temenos (SIX: TEMN) today announced that National Bank of Iraq (NBI), part of the Capital Bank Group, has successfully gone live with Temenos core banking and payments. NBI, which has 27 branches across Iraq, offers a comprehensive range of services to individuals and businesses in the country. Since 2005, NBI has been majority owned by Capital Bank, one of the top financial institutions operating in the Jordanian and regional markets, with assets of approximately JOD 7.6 billion[1]. With this implementation, NBI moved from its legacy systems onto the same core banking platform as other entities in the Capital Bank Group. This will enable NBI to operate more efficiently and integrate seamlessly with other systems to develop new products faster and deliver an improved customer experience. Capital Bank Group is a long-standing Temenos customer with other entities in the Group including Capital Bank of Jordan, Bank Audi, Société Générale Bank Jordan and NBI Saudi Arabia, already on the Temenos platform. NBI also becomes the first part of the group to adopt Temenos Payments, which enabled the bank to process more than 100,000 transactions of incoming and outgoing domestic and international payments in the first 15 days of operation, with a 99% straight-through processing rate. The migration to the Temenos platform for core banking and payments at NBI was completed in under 12 months thanks to Temenos’ pre-configured banking and payments capabilities and APIs which reduced the need for complex customizations, as well as close collaboration between Temenos, NBI, Capital Bank and delivery partner ITSS. This success was recently recognized in the IBS Intelligence Innovation Awards, with Capital Bank winning ‘Best Implementation of Core Banking Services'. The implementation at NBI follows several other successful transformation projects with Temenos for Capital Bank in the last few years, including the launch of NBI’s branch operations in Saudi Arabia in just 45 days, as well as the integration of Bank Audi and the former Jordanian operations of Société Générale, each of which was achieved in under four months. Collectively, these projects helped Capital Bank to increase operational efficiency by more than 50% within three years, bringing significant cost savings and an improved customer experience. With faster, more accurate processing and immediate service requests, the bank has maintained high customer retention rates and a reputation for service excellence. Izzidin Abusalameh, Chief Operations Officer, Capital Bank Group, commented: “This achievement marks a significant milestone in our digital transformation journey and positions us as a leading player in the banking industry. We have seamlessly transitioned the National Bank of Iraq to a cutting-edge core banking system which will not only enhance operational efficiency but also support providing our customers with a superior digital banking experience. Our continued partnership with Temenos has not only provided us with an advanced technological platform but has also facilitated a culture of flexibility and adaptability, enabling us to execute our ambitious growth plans.” Lee Allcorn, Managing Director, Middle East & Africa, Temenos, said: “Congratulations to National Bank of Iraq and the Capital Bank team on this successful implementation that gives NBI business agility and the same modern technology platform and ability to deploy fast with pre-configured banking capabilities as the rest of the group. With Temenos, Capital Bank Group is future-ready, and we are proud to support them as they continue to innovate and leverage our platform to grow sustainably and enhance the banking experience for customers.”](https://fintech.global/wp-content/uploads/2024/04/rupixen-Q59HmzK38eQ-unsplash-2-218x150.jpg "Flutterwave teams up with Acquired.com to streamline outward remittances in EU and UK")
Flutterwave teams up with Acquired.com to streamline outward remittances in EU and UK
Flutterwave, Africa’s leading payments technology company, and Acquired.com, a specialist in payment processing, have entered into a strategic partnership.
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