Fintech, Finance, Technology, Banking Highlights – 19 January 2018
ABN Amro internet banking offline due to DDOS attack
Internet Banking, Mobile Banking, the website abnamro.nl and iDeal were temporary unavailable due to a ddos-attack.
During a ddos-attack an internet site is being flooded with large volumes of data requests, causing the server to overload.
It doesn’t concern a hack. Internet Banking, Mobile Banking, and iDeal remain completely safe.
Chase Partners with AutoFi to Deliver Digital Car-Buying for Dealerships across the Country
Chase announced a partnership with AutoFi, a financial technology company that helps customers select and finance vehicles through their automotive dealers’ website and reduce the time it takes to complete the sale. Chase is the first national bank on the AutoFi platform.
“AutoFi helps dealers provide a fast and easy digital car-buying experience that consumers want,” said Mark O’Donovan, CEO of Chase Auto Finance. “Our customers are our top priority – both dealers and car buyers. We want to provide them with the best financial experience whether they are in a dealership or online.”
Nearly half of consumers want to purchase and finance vehicles online, Chase’s research has found.
The AutoFi digital retailing platform connects dealers with buyers and lenders. Chase will deliver financing terms online through the AutoFi platform, often within seconds.
“We are thrilled to partner with Chase. We share a common vision of using technology to deliver a delightful consumer purchase experience,” said Kevin Singerman, CEO of San Francisco-based AutoFi. “Our partnership brings tremendous value to the dealer community leveraging the breadth of Chase’s full spectrum lending and automated capabilities to deliver a comprehensive digital retailing solution to dealers across the nation.”
iGTB implements new supply chain finance platform for Bank of Baroda
Intellect Global Transaction Banking (iGTB), the transaction banking and technology specialist from Intellect Design Arena Limited, has implemented a comprehensive supply chain finance platform for Bank of Baroda, India’s International Bank.
With a $418 billion finance gap in the Indian SME sector alone, the roll-out of the digital platform will extend new financing and working capital opportunities to the bank’s numerous clients – and their partners – expected to boost the number of digital transactions across the nation. Prime Minister Narendra Modi’s “Digital India” initiative – which aims to drive economic development through wide-ranging digital transformation across the country – has set an ambitious target of reaching 25 billion digital transactions in 2017-18.
Furthermore, increasing trade across a country rapidly establishing itself on the global stage is a high priority – India’s exports of $261 billion are up by 47.7 per cent since 2009, and its internal trade as a proportion of GDP is at a healthy value of 54 per cent.
Finally, by supporting the bank’s manufacturing clients across the country, the platform is helping Modi’s “Make in India” initiative become a reality – transforming India’s economy into to a world-class manufacturing hub.
