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Is Your Bank Telling You Everything? 75% Of Singaporeans Don’t Know The True Cost Of International P

Is Your Bank Telling You Everything? 75% Of Singaporeans Don’t Know The True Cost Of International Payments

According to new research released today by online money transfer service TransferWise, a majority of Singaporeans who transfer money overseas use their bank but three in four people don’t know the true cost of sending money overseas – which includes both upfront fees and an exchange rate markup. Singaporeans prize transparency of fees when they send or receive money abroad, and many believe their banks have been clear about the costs. The survey revealed that close to 75 percent of people believe banks make it easy to...

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Category: Payment Processing

Image & article ref: fintechnews.sg

Tax Investigators Raid Bitcoin Exchanges Across India

Investigators from the income tax department of India have conducted onsite searches at the offices of the country’s top nine bitcoin exchanges early on Wednesday morning. Government officials told the Indian news agency PTI that multiple teams of detectives from the tax department, under the command of the Bengaluru investigation wing, surveyed the trading venues in Delhi, Bengaluru, Hyderabad, Kochi, and Gurugram.This action was taken under section 133A of the Indian Income Tax Act for “gathering evidence for establishing...

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Category: Bitcoin

Image & article ref: news.bitcoin.com

A Career in Crypto: How to Work in the World’s Fastest Growing Market

The cryptocurrency revolution is more than just a fad – it is creating real jobs in the economy. Recent data provided by LinkedIn showed that bitcoin-related job postings in the financial sector alone skyrocketed 900% over the last three years, a clear sign that enterprises were seeking cryptocurrency experts. This figure is 460% in the software industry alone. Demand is also percolating in the freelance community, with the likes of Upwork and Freelancer seeing a surge in crypto-related job postings in the IT, marketing and content writing fields.

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Category: Cryptocurrency

Image & article ref: hacked.com

European fintech startup iZettle has raised €40m ahead of a potential IPO

Payments startup iZettle has raised €40m (£35.2m), led by long-term backer Dawn Capital and Sweden's multibillion pound state pension fund, a new investor in the six-year-old Swedish firm. It follows a €30m round of debt financing from the European Investment Bank in September to fund research, as well as two tranches of cash in a series D round in August 2016 and January this year, totalling €120m in debt and equity.Founder and chief executive Jacob de Geer said it would accelerate the startup's "ambitious growth plan...

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Category: Startup Funding

Image & article ref: cityam.com

ING is using artificial intelligence to help traders, not replace them

ING has introduced a new tool to help its traders that's powered by artificial intelligence in the latest fintech move for the dutch bank.

Rather than replacing a human, the bot is designed to help them make better investment decisions, predicting the best bond prices when they're being bought and sold. Katana, as the tool is called, has already been tested at the banks emerging markets desk in London and will now be rolled out further. The trial found 90 per cent of trades could be made quicker and that costs were reduced by 25...

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Category: Artificial Intelligence

Image & article ref: cityam.com

Google can’t miss out on China’s AI boom—so it’s opening a research lab there

Google announced today it will open a lab in Beijing dedicated to researching artificial intelligence (AI). The news comes as China’s government and tech companies race ahead to dominate the field, putting Google in a position where it has no choice but to set up locally in order to remain at the cutting edge. According to the search giant, the lab will be led by a small team of researchers and supported by Google engineers already working in China on developing the company’s global-facing products.

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Category: Artificial Intelligence

Image & article ref: qz.com

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