Payments UK, the trade association launched in June to support the payments industry, said that a further six organisations have signed up to become associate members.
The latest associates are:
- Icon Solutions (UK) Ltd
- Infrasoft Technologies Ltd
- Nets A/S
- Sidley Austin LLP
- Yodlee, Inc
Payments UK now has 29 associate members and 38 full members. “Our growing membership is a testament to the vital role Payments UK has to play within an ever-changing payments industry,” commented its chief executive (CEO), Maurice Cleaves.
“A great example is our ground-breaking World Class Payments project. Through this work we have set out a clear, evidence-based vision of how payments in the UK might look in the future if they are built on customers’ needs. Our growing membership can help us move this vision forward and ensure we deliver the very best outcomes for the industry and its many different customers.”
The top five sectors Asian fintech investors are interested in are data analytics, blockchain, lending, payments and regtech, according to Gary Hwa, EY regional managing partner.
On the third day of the Singapore Fintech Festival conference, there was a focus on specific applications of fintech innovation. One was trade finance, which is clearly is ripe for a revolution.
Kicking off day two of the Singapore Fintech Festival, Deloitte Chairman David Cruikshank said that fintech is significant for three reasons. First, customer expectations of services are higher than ever. Second, barriers to entry are lower than before. And finally, financial institutions (FIs) face a threat of what a competitor might do.
The EU and US’ shift in accounting standards may bring balance sheet losses and increase credit risk, according to James Elder, director of risk services at Standard & Poor’s (S&P) Global.