Banking

DeFi Will Be The Catalyst For Fully Digital Banking And Trade Finance


7 min read


This story originally appeared on ValueWalk

Defi is believed to overthrow traditional finance due to its accessibility, sphericity, efficiency, and ease of value transfer. During the recent bull run, the Defi market spiked over $149B, and the total value locked (TVL) in various DeFi protocols surpassed $86B.

[soros]

Q1 2021 hedge fund letters, conferences and more

Defi banks on the inefficiencies of the traditional finance system where financial applications are expensive, difficult to access, and most importantly, hard to use. However, the maximalist slogan ‘Defi will eat Cefi’ seems far-fetched, as governments, banks, and

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Banking sector dominates the Nigerian stock exchange

Last week, the banking industry outpaced other sectors with a gain of 1.3%. The NGX Banking Index grew the quickest, of all the sector indices tracked by the Nigerian Exchange, rising by 0.36% to 362.51 basis points, owing mostly to gains in the shares of Access and Zenith Banks.

The Financial Services Industry (measured by volume) topped the activity chart with 695.803 million shares worth N5.178 billion exchanged in 8,616 deals, accounting for 70.92% equity turnover volume and 49.86% equity turnover value.

The Consumer Goods Industry came in second with 75.879 million shares valued at N1.227 billion traded in 2,263

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Establishing A Finance Company In Nigeria – Finance and Banking


Nigeria:

Establishing A Finance Company In Nigeria


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Introduction

Micro, Small and Medium Enterprises (MSMEs) play a significant
role in the development of the economy of many countries. According
to the World Bank1, MSMEs represent about 90% of
businesses worldwide. The growth of MSMEs in many countries,
however, is often stifled by limited access to finance, as
financial institutions are less likely to provide funding to MSMEs
due to the high-risk nature

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Banking and finance experts converge to reignite the European region

Backbase, SmartMessage, Abaka and Creatio have joined the foremost edition of Finnovex Europe to formulate evolutionary strategies for reigniting the banking and financial services industry of the European region.

The Leading Summit on Financial Services Innovation and Excellence, which was held from May 24 to 25, 2021, on the host’s virtual platform, witnessed the attendance of many C-suite individuals, senior vice presidents, vice presidents, directors and heads of departments from the banking and financial services industry.

The virtual event, organized by Exibex, is a part of the Finnovex Global Series.

This year’s edition was themed “Evolution Strategies for Reigniting the

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Wall Street CEOs testified before Senate banking panel, defending record on climate change, diversity while fighting charges of ‘woke capitalism’

Follow along with MarketWatch reporters for live updates and analysis of the testimony of six CEOs of America’s largest banks testify to the Senate Banking Committee.

Key tickers: Dow Jones Industrial Average
DJIA,
+0.03%
| U.S. dollar
DXY,
+0.06%
| 10-year Treasury
TMUBMUSD10Y,
1.590%
| Goldman Sachs Group Inc.
GS,
+0.79%
| Wells Fargo & Co.
WFC,
+0.67%
| Bank of America Corp.
BAC,
+0.07%
| Morgan Stanley
MS,
+0.55%
| Citigroup
C,
+0.31%
| JPMorgan Chase & Co.’s
JPM,
-0.01%

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Rho Technologies Announces $100 Million in Financing to Transform Business Banking

NEW YORK–(BUSINESS WIRE)–Rho Technologies, the high-growth fintech behind Rho Business Banking, announced $100 million in debt financing from global impact investment firm, Community Investment Management (CIM). The financing will allow Rho to invest in strategic initiatives and broaden its service offerings to business clients including names like direct-to-consumer furniture company Burrow, collaboration software company Popular Pays and direct-to-consumer home goods company Caraway.

The news comes on the heels of Rho’s $15 million Series A funding round and the launch of a new, integrated accounts payable feature as part of its business banking platform. Rho Business

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