FinTech Futures: Top five stories of the week – 27 January 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Commerzbank
Commerzbank files lawsuit against EY over €200m Wirecard losses
Commerzbank has filed a suit against the accounting firm in Frankfurt court, Reuters reports.
Commerzbank taps Nexi to develop card processing solution
Nexi says the DACH region is an “important potential growth area” for the firm.
Why trade finance should embrace blockchain to realise its digital ambitions
Digital innovation in trade finance is gaining momentum, and blockchain offers a number of possibilities.
N26 raises $900m in new funding to reach $9bn valuation
German neobank’s value eclipses the market capitalisation of Germany’s second-largest bank.
Commerzbank to write off €200m after scrapping outsourcing project with HSBC
The bank cites implementation risks and changed market conditions as the reasons behind its decision.
Classic product placement has had its day
Product placement is easily recognised by the customer and viewed negatively.
Commerzbank confirms first commercial transactions on Marco Polo network
Commerzbank, İşbank, LBBW and two corporates have completed transactions ahead of a launch.
Video: pick of the week – Tink and AmEx team up; Commerzbank agrees 10,000 job cuts
A top pick of stories from the world of finance and tech in bitesize video format, twice a week.
Commerzbank finalises 10,000 job cuts after agreement with employees
German lender moves forward with widescale restructure plan.
Deutsche Börse and Commerzbank team up to support DLT firm 360X
German giants support illiquid assets investment platform.
Commerzbank signs five-year Google Cloud deal to migrate banking apps
“Google will now offer the bank a deeper set of platform services”.
2020 review: 10 largest regulatory fines this year
The fines kept flowing even in a year as turbulent as 2020.
2020 review: 10 largest bank job cuts this year
This year has seen several job cut announcements.
Commerzbank closes 200 branches
Commerzbank’s group profit fell by a fifth to €220 million in the second quarter.
Commerzbank plans 10,000 job cuts as CEO and chairman step down
Shareholder pressure saw Martin Zielke and Stefan Schmittmann depart earlier this week.
Commerzbank fined €650k by Cypriot regulator
German bank sanctioned in relation to dealings with now-defunct Laika
Commerzbank shareholder calls for 7,000 job cuts
Cerberus Capital Management makes demands of German bank.
Commerzbank fined £37.8m by FCA for AML failings
The London branch of the bank dragged up for issues between 2012 and 2017.
What can we expect in the next decade?
From big data and cloud to developments in distributed ledger technology and more.
Commerzbank to acquire block of Comdirect shares from Petrus Advisers
Commerzbank will hold over 90% of the shares of Comdirect once it’s completed.
Commerzbank to cut 4,300 jobs, close 200 branches and sell subsidiary
Following this, the bank plans to hire 2,000 new positions.
Commerzbank and LBBW set a new blockchain milestone
This time they’ve integrated logistics provider, Logwin AG.
Commerzbank tests blockchain payment solution with Daimler Trucks
Current payment systems require a human to trigger the process.
Appital launches new trading fintech
Its platform will accelerate trades, strip out costs and provide transparency for buyers and sellers.
Yolt signs partners and prepares for wider roll-out
Yolt is also partnering with Payvision and Funding Options, both of which also have ties to ING.
Top fintech stories this week – 31 May 2019
The first Amadeus event on payments, a new Indonesian payment standard, and more!
First Marco Polo trade finance pilot between Asia and Europe
Bangkok Bank and Commerzbank test DLT-based trade finance solution.
Blockchain: a question of scale
Blockchain will become the operating system which underpins the digital economy.
Raisin partners with Commerzbank for special fixed-term deposits
The partnership will start with German credit institutions such as Grenke Bank, NIBC Bank and Gefa Bank.
First transactions carried out on blockchain-based Marco Polo network
Delivery triggers irrevocable payment from buyer’s bank.
Commerzbank and Deutsche Börse complete DLT repo transaction
It involved the simultaneous swap of the tokens as a legally binding transaction.
Commerzbank completes securities transaction test on blockchain
Pilot with Continental and Siemens – and transaction based on R3’s Corda platform.
Can automation transform trade finance?
How automation could provide benefits for both bank and corporate clients.
R3 and European banks complete euro commercial paper transaction
Second attempt with Commerzbank, ING, Natixis and Rabobank.
Commerzbank in major trade finance automation drive with Conpend
Commerzbank has teamed up with fintech Conpend for the project.
mBank and Commerzbank prep pan-European challenger
Project Kopernik (Copernicus) will initially target Germany.
Commerzbank turns to equensWorldline for payments processing
German bank signs up for ten years.
Commerzbank taps Google for mobile payments in Germany
Google Pay is the way.
Eight looking great for fast track blockchain
Project includes Santander, BBVA, BNP Paribas, Commerzbank and Societe Generale.
