IBM Brings Swift Into the Digital Banking Mix
Hey Digital Banking Fanatic!
IBM is getting a little closer to the heart of banking.
The company has added Swift integration to its digital banking platform, so banks can connect their digital banking services to Swift’s global network.
And there’s another piece to this. IBM is also making its Digital Asset Haven available on-premises, giving banks a way to work with digital assets and tokenized money without moving everything into the cloud.
That’s a pretty interesting combination. Banks are having to figure out traditional payments, tokenized assets, and digital money at the same time, and nobody wants to run a different system for every new thing.
IBM seems to be betting that banks would rather bring more of it together.
Keep scrolling, there are plenty more important banking updates waiting for you in today’s edition
See you on Monday!
Cheers,
INSIGHTS
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NEWS
🇺🇸 IBM expands its digital banking infrastructure with Swift integration and on premises Digital Asset Haven. The beta lets financial institutions connect to Swift's blockchain based shared ledger for tokenised deposit transactions using ISO 20022 messaging.
🇦🇷 Argentina's central bank confirms Mercado Libre and Revolut will receive banking licences before year end. The announcement positions both companies to enter the formal banking system as fully licensed digital banks in one of Latin America's largest markets.
🇬🇧 Revolut shakes up the high street with first facial recognition payments and zero processing fees for merchants. The launch introduces biometric checkout as a new in-store payment method and removes transaction fees to drive merchant adoption across its UK network.
🇯🇵 MUFG's digital bank subsidiary clinches a banking licence and rebrands to MUFG Emut Bank. The fully owned subsidiary holds $300M in capital and plans to begin offering services around January to March 2027 under the Emut Bank name.
🇬🇧 Teya taps ClearBank to launch a high yield savings account for UK small businesses. The partnership lets Teya's merchant customers open instant access savings pots directly within the Teya platform, powered by ClearBank's banking infrastructure.
🇺🇸 FinTech lender Avant applies for an OCC bank charter, joining a growing wave of FinTechs pursuing full banking capabilities. A national charter would let the Chicago firm expand credit products and reduce its cost of funds.
🇲🇩 Moldova extends EVO digital ID wallet to four banks, expanding access to its national identity infrastructure. Citizens can now use the EVO wallet to authenticate and transact with four participating banks.
🇬🇧 UK banks complete the first live customer transactions using tokenised sterling deposits. The milestone demonstrates that tokenised commercial bank money can settle real retail payments on a shared ledger alongside traditional rails.
🇦🇪 Bank al Etihad enters the UAE market through a strategic partnership with Ethmar International Holding. The Jordanian bank signed an MoU to establish a new Category 1 bank in Abu Dhabi Global Market, expanding its footprint beyond Jordan and Iraq.
🇺🇸 Pagaya secures a $460M revolving credit facility to support its AI driven lending network. The facility provides additional capital to fund consumer loan originations across its bank and FinTech partner ecosystem.
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