The Currency Translator

Citi is the leading Global Bank, doing business in more than 160 countries. This allows the bank to offer a unique experience to international travelers, which includes payments with no currency conversion costs and fee free ATM withdraws. But most people don’t know that. To change this, Citi will partner with Google to create a tool that will make shopping abroad easier than ever. The Currency Translator is an upgrade on Google Instant Translator Camera, so it not only translates signs in different languages, but also price tags in different currencies.

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Luxembourg Stock Exchange signs MoU with Bank of China

On 19 June, 2014, the Luxembourg Stock Exchange signed today a memorandum of understanding (MoU) with the Bank of China that involves the creation of a strategic partnership between the two companies. According to the MoU, the Luxembourg Stock Exchange and Bank of China intend to cooperate in the listing of a wide range of securities. They also aim to promote Luxembourg as the ideal venue for international listings and to develop financial activities related to the internationalisation of the Chinese renminbi (RMB).

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Standard Chartered boosts open banking capabilities

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Standard Chartered has earlier announced that it is bolstering its open banking capacities , having a focus on driving innovation and technology culture through partnerships and openness with developers, corporations and fintechs to co-create better customer products and services throughout the sharing and application of Application Programming Interface (APIs).
The bank has introduced several new initiatives.

The very first of these is the platform, whose goal is to provide developers open access to the bank’s available source code to get banking products and its own APIs, software, and libraries. It serves as an adaptive layer in its engineering architecture to drive more partnerships and connectivity between corporations developers and fintechs, therefore solutions could be co-created.

Another of those initiatives would be aXess Labs, that will be a Bengaluru-based evaluation laboratory, where the Bank’s in-house developers will experiment with cutting edge technologies, accelerate ideation to service delivery, empower new business units, and also share open banking best practices, capabilities, and tools across the Bank.
Standard Chartered was trying to drive innovation. It has been co-creating solutions to increase client experience and continues to be forging partnerships and alternatives to change it approaches and believes about accounting. The bank declared the establishment of a joint venture with HKT PCCW and Ctrip Finance to provide a new standalone electronic banking in Hong Kong.

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Standard Chartered has also recently declared the SC Ventures Fintech Bridge, an online platform, by which the bank expects partnerships with all fintechs to solve business challenges that meet present and future client needs.
The post Standard Chartered promotes open banking capabilities appeared initially on FinanceFeeds.

Dr Sebastian Wedeniwski, the Bank’s Chief Technology Strategist stated:”The future of banking is changing fast with massive technology-led innovations. Our aXess attempts to boost our open banking capacities aims to enhance the developer experience and upskill the technology experience of the Bank, even while guiding developers on our journey build for openness and integration.”
In the end, the aXess Academy intends to boost the skills of the programmers of this Bank, providing them with the technical know-how required for receptive banking via technology leadership roundtables, hackathons, and training programs. It is a forum for media with tech networks in different industries.