1010Code Software

🇬🇧 𝐍𝐨 𝐧𝐞𝐞𝐝 𝐟𝐨𝐫 𝐚 𝐦𝐞𝐭𝐚𝐯𝐞𝐫𝐬𝐞. 𝐁𝐚𝐧𝐤𝐬 𝐚𝐫𝐞 𝐟𝐢𝐧𝐞 𝐢𝐧 𝐨𝐮𝐫𝐬

Interest in VR and AR technologies among banks is waning rapidly. This is according to a report from research firm Censuswide, which surveyed 150 executives at UK banks. When Facebook embarked on a rebranding in 2021 and ventured into its Metaverse, financial organizations eagerly followed the trend of adopting VR and AR tech. Banks' confidence was fueled by optimistic predictions that the metaverse economy would reach $13 trillion by 2030. However, two years later, it's evident that this trend hasn't panned out as expected. The number of UK banks investing in VR and AR decreased by more than a third. The vast majority of participants in the financial market are more interested in developing API technologies (25%) and cybersecurity systems (22%).

🇷🇺 𝐑𝐮𝐬𝐬𝐢𝐚𝐧 “𝐀𝐥𝐟𝐚-𝐁𝐚𝐧𝐤” 𝐢𝐬 𝐡𝐞𝐚𝐝𝐢𝐧𝐠 𝐭𝐨 𝐂𝐡𝐢𝐧𝐚

Earlier this year, the investment company owned by one of the country's largest banks received permission from Indian authorities to participate in local stock exchanges. And now, the primary financial institution announced the opening of branches in Shanghai and Beijing. Rumors about this move have been circulating for a while, and it's now known that applications for branch registration are about to be submitted to the People's Bank of China. The review process will take approximately six months. This is a path already taken by Russia's “Sberbank”, and “VTB” Bank has been operating in China since 2008.

🇪🇺 𝐄𝐮𝐫𝐨𝐩𝐞𝐚𝐧 𝐛𝐚𝐧𝐤𝐬 𝐚𝐫𝐞 𝐣𝐨𝐢𝐧𝐢𝐧𝐠 𝐟𝐨𝐫𝐜𝐞𝐬 𝐭𝐨 𝐜𝐫𝐞𝐚𝐭𝐞 𝐚 𝐭𝐨𝐨𝐥 𝐭𝐨 𝐬𝐭𝐫𝐮𝐠𝐠𝐥𝐞 𝐟𝐫𝐚𝐮𝐝 𝐢𝐧 𝐢𝐧𝐬𝐭𝐚𝐧𝐭 𝐩𝐚𝐲𝐦𝐞𝐧𝐭𝐬

The pan-European payment infrastructure, EBA Clearing, engaged nine banks from six countries to train a data model aimed at detecting patterns in the actions of fraudsters and preventing their activities based on user feedback for instant payment services. EBA Clearing released the specifications for its pan-European Fraud Pattern and Anomaly Detection (FPAD) functionality and a testing “sandbox” for developers of cybersecurity API-based solutions. FPAD includes real-time fraud detection capabilities, such as identity and user details verification, as well as transaction and account risk assessment functions that users can utilize before making a payment transaction.

💳 𝐕𝐢𝐬𝐚 𝐥𝐚𝐮𝐧𝐜𝐡𝐞𝐬 𝐕𝐢𝐬𝐚 𝐂𝐫𝐨𝐬𝐬-𝐁𝐨𝐫𝐝𝐞𝐫 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬

In partnership with Currencycloud, the international payment giant is introducing a new product designed to offer cross-border money transfer services for fintech, banks, currency brokers, and other payment organizations.The solution combines cross-border and cash management offerings, leveraging solutions developed following Currencycloud's acquisition. The new product provides customers with a set of modular APIs for seamless integration of payment options into their IT infrastructure.