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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 We started with seven (data centers) and now we are down to five […]

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Goldman Gets Green Light To Operate Bank In South Africa

PYMNTS

South African regulators also approved Goldman Sachs for a bank operation license as the firm strives for growth in the most liquid and sophisticated economy on the continent. Africa’s eCommerce volume is expected to reach $75 billion by 2025, and economic output in FinTech is anticipated to add $150 billion by 2022 to its GDP.

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Ireland Boosts FinTech Development Efforts

PYMNTS

Ireland has been ramping up to boost FinTech efforts — a trend that has spanned several countries globally. As reported this past week, per Yahoo Finance , Ireland wants to see as many as 50,000 people employed directly within the country’s international financial services sector, with a target date of 2025. In the U.S.,

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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. initial public offering of at least $2 billion in the wake of failed merger talks with Indonesian rival Gojek.

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In Ireland, Banking Federation Promotes FinTech Foresight

PYMNTS

The Banking & Payments Federation Ireland said it had established a FinTech Foresight Group — further evidence of collaborations between traditional financial institutions and tech upstarts. That series will focus on global technology trends across financial services and how FinTechs and banks can work together across those efforts.

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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. The debut of 5G promises to add another tool that can aid such efforts. Digital Demand.

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B2B Payments Drive Instant Payments, Crypto Innovation

PYMNTS

Reports said that the legislation aims to also provide greater efficiency to address market fragmentation, with current financial service providers working with cryptocurrencies often operating in only one member state. The future of finance is digital,” said Valdis Dombrovskis , the panel’s executive vice president.