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Citizens Bank to go all in on cloud by 2025

BankInovation

Citizens Bank plans to take its banking operations to the cloud by 2025. “We are going to exit all of our data centers that we own today,” Chief Information Officer Michael Ruttledge said Tuesday at Fintech Connect North America in New York. “We

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Singapore FinTech Grab Mulling US IPO Of Up To $2 Billion

PYMNTS

Singapore-based FinTech Grab is mulling a U.S. In its Series A funding announcement , Grab said it expects the group to reach its revenue potential of $60 billion by 2025. Last month, Grab and Singtel announced they had received a license to set up a digital bank in Singapore.

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How 5G Will Shake Up Banking and FinTech?

PYMNTS

Financial institutions are in the midst of becoming more mobile, with many of those legacy operations opting to — or at least considering — working more closely with FinTech providers to upgrade services, retain customers and acquire new ones. Digital Demand. What does that mean, then? Latency Advantages.

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Ant, Razer Join Rally For Singapore eBank Licenses

PYMNTS

Gaming company Razer is going after a Singapore digital banking license, along with China’s largest online monetary platform Ant Financial , according to reports on Wednesday (Jan. Razer FinTech will own a 60 percent majority stake Razer Youth Bank, which will be headquartered in Singapore. .

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How Spend Tools Feed Food Banks’ Need For Accountability

PYMNTS

Recent data indicated that 82 percent of SMBs shutter in their first year because of poor cash management operations. As SMBs seek opportunities to expand their operations, and reach new customers and markets, they will need the right spend and workforce tools to ensure funds are spent appropriately. billion in value by 2025.

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Deep Dive: How The COVID-19 Pandemic Is Shifting Latin America’s Open Banking Plans

PYMNTS

Open banking has been picking up steam in Latin America for more than two years. Regulators in Mexico passed a law governing FinTechs in March 2018, just two months after PSD2 went into effect in the European Union, and others in the region have since followed suit. The creation of open banking initiatives in the E.U.

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Digital first in banking: Going beyond the interface

Insights on Business

Your executive teams may feel that their current mobile apps and internet banking operations are sufficient. And yes, for now you can still reach profit objectives and meet C/I ratio targets—while investing in more mobile and internet banking capabilities on the side. They are expanding by creating FinTech partnerships.