Invest Hong Kong (InvestHK) has opened applications for the 7th edition of its fintech accelerator Global Fast Track (GFT) 2024, accepting submissions until 20 September. The programme invites fintech companies from both local and international markets to pitch their ideas on global platforms, offering mentorship and business matchmaking to help unlock their potential. The global finalists of the GFT’s pitching competition will compete in the grand finale at Hong Kong Fintech Week (HKFW). This year’s programme includes new features aimed at strengthening Hong Kong’s position as the premier int ..read more

The proliferation of technology in modern business has created new avenues for financial statement fraud, but it has also provided sophisticated tools to detect and prevent such fraud. Artificial intelligence (AI) approaches, in particular, have the potential to be more efficient and accurate in identifying fraud, especially new schemes that traditional methods might miss, according to a recent article by Karina Kasztelnik, PhD, and Eva K. Jermakowicz, PhD, CPA, from the Tennessee State University in Nashville. The article, published in June, explores the evolving landscape of financial statem ..read more

Eurex expands its crypto derivatives portfolio with the launch of FTSE Ethereum Index Futures and Options as of 12 August 2024. Following the launch of FTSE Bitcoin Index Futures and Options in 2023, this is another major milestone in Eurex’s ambition to offer secure access to cryptocurrencies in a regulated market environment. Ethereum is the second largest cryptocurrency with a market capitalization of approximately USD 400 billion. There is significant trading and hedging demand from institutional and professional customers, as reflected in record trading volumes in derivatives and other in ..read more

Securing funding without giving up equity is a strategic approach that allows startups to maintain full control over their company while obtaining necessary financial support. In Switzerland, several methods and programs are available for fintech startups seeking financial support that does not require repayment or equity exchange. One method is competitions and awards. Many organizations host competitions that award cash prizes or resources to winning startups, providing financial support and recognition without equity dilution. These competitions can be either online or in person, and the fu ..read more

Yuh lanciert 6 ETF-Sparpläne ohne Trading-Gebühren und bietet somit nun ein ähnliches Angebot an wie Neon. Die Auswahl an ETFs für die kostenlosen Sparvarianten ist bei beiden Banken jedoch nach wie vor sehr beschränkt, trotzdem grenzen sich die beiden Neobanken damit klar von der teueren Konkurrenz ab. Sie erlauben das automatisch wiederkehrende Investieren in ETFs ohne Trading- oder Depotgebühren. Lediglich die staatliche Stempelgebühr fällt zusätzlich zu den TER-Kosten der ETFs an. Die gebührenfreien ETF-Sparpläne sind bei Yuh für folgende sechs Fonds verfügbar:  iShares SMI ETF (CH ..read more

The European Commission has made commitments offered by Apple legally binding under EU antitrust rules. The commitments address the Commission’s competition concerns relating to Apple’s refusal to grant rivals access to a standard technology used for contactless payments with iPhones in stores (‘Near-Field-Communication (NFC)’ or ‘tap and go’). The Commission’s competition concerns Apple Pay is Apple’s own mobile wallet used to allow iPhone users to pay with their devices in stores and online. Apple’s iPhones run exclusively on Apple’s operating system ‘iOS’. Apple controls every asp ..read more

Nuvei announced a partnership with Mastercard to launch a new off-ramping solution that enables consumers in Europe to seamlessly convert their Digital Assets, including cryptocurrencies, into traditional fiat currency via debit, credit and prepaid cards. This new functionality provides a bridge between digital and traditional finance that can be spent via Mastercard’s global network. This off-ramping solution is integrated directly into Nuvei‘s modular payment platform, delivering a simple, secure user experience. The off-ramping process is designed to be rapid and user-friendly. Consumers ca ..read more

Finastra announced the completion of a Swiss Interbank Clearing (SIC) instant payments readiness project. Using Finastra’s cloud-based Service Bureau offering, Swiss banks can seamlessly transition to facilitating instant interbank payments. It is expected that the 50 largest banks must be able to facilitate instant interbank payments in Switzerland and Liechtenstein by August this year. All active participants in the Swiss customer payment transactions system via SIC are expected to be capable of processing incoming customer payments instantaneously by the end of 2026. Finastra’s 24/7 instant ..read more

TX Ventures led the USD 5.5m Series A round of Ireland-based Trustap. The investment will fuel the company to continue its global expansion, enabling online marketplace participants to transact in full trust. Trustap provides marketplaces an embedded end-to-end transaction capability by managing payments, logistics and customer support on their behalf. One of the key features is escrow-style payment, which helps buyers and sellers transact in full trust on the platforms. ‍The Ireland-based company announced that it has added $5.5 million in funding led by TX Ventures. Coinvestors in the round ..read more

Switzerland has been named the second most attractive location in Europe for fintech stakeholders, surpassing the Netherlands, Estonia, and the UK. The country is recognized for its conducive business environment and the attractiveness of the local market for fintech players, according to the 2024 European Fintech Index. The index, released on June 27 by Lithuanian fintech company ConnectPay, provides an overview of the fintech landscape across Europe. It evaluates key markets in the region and their potential for fintech businesses, government institutions, investors, and other stakeholders ..read more