EUROPEAN FINTECHS NEED CLARITY ON REGULATION Originally posted on Fintech IT, 24.05.2021 Fintech is driving transformation at such a rapid pace that regulators are struggling to keep up. As imaginative start-ups simplify and streamline financial services, increased competition is leading the “old guard” of industry incumbents to tighten their defences….
A multi currency IBAN is an international clearing bank account that is capable of routing transactions in different currencies into one central account and currency. Rather than requiring that a merchant maintain accounts in each location where they do business then re-route those funds to a central account, multi currency IBANs collapse that process into a single stream that cuts down on administrative expenses and makes online business efficient and profitable.
Interview with Lili Metodieva, by Startups Magazine – Lanna Deamer Startups Magazine speaks to Lilia Metodieva, Managing Director of Monneo, European fintech startup. TELL ME ABOUT YOUR STARTUP AND WHAT YOU DO? Monneo is incorporated in the UK and is an authorised payment institution licensed by the FCA. We have headquarters…
A critical step in opening your eCommerce business is obtaining a bank account. Digital banking and virtual IBANs offer a wealth of advantages in this regard. But if you’re curious about what you need to know before opening a bank account for eCommerce business, you’ve come to the right place….
A bank account for eCommerce business shouldn’t be the same as a traditional bank account. Why? For one, there are more advantages for eCommerce businesses with digital banking solutions and virtual IBANs.
There’s a lot of talk in the online, international business community and much of it has to do with how a multi currency IBAN is not only making business easier, but it is also making it way more profitable than many could ever have imagined.
You may have heard about what a European IBAN account can do for your business. From cost-effective benefits to simplified transaction streams, these accounts not only make doing business internationally possible but also make it fast, secure, and efficient.
The digital banking era is upending traditional payment solutions and transforming the global financial industry in the process. And this is on both the corporate and consumer level with changes in payments solutions reaching into every facet of the international economy.
When it comes to digital banking and compliance, robust KYC practices not only prevent fraud and financial losses but also strengthen a firm’s ability to conduct business with confidence. This is typically because of the four key elements of strong KYC practices that make sure firms know who they’re doing business with and what to expect from that relationship.
One of the more vexing problems of the modern age when it comes to international business is that regulatory regimes often do not keep pace with technological innovation. Nonetheless, novel solutions to B2B cross-border business have emerged in the form of virtual IBANs, financial instruments that drive the innovation economy and enable new, powerful business models.
The year 2020 saw many of the innovations and prognostications of analysts come true as contactless payments and digital banking solutions drove the field of Fintech innovations. Looking ahead, however, 2021 could be the year that consolidates much of this growth and prepares the economy for the next stage of digitization.
The recipe for success in the e-commerce business is much the same as any other entrepreneurial endeavor except it comes with many opportunities for growth and leverage that physical businesses don’t have.