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ABN AMRO, Louis Dreyfus Company (LDC), Shandong Bohi Industry Co., Ltd (Bohi), ING and Societe Generale have successfully completed the first full agricultural commodity transaction using a blockchain platform. The enhanced Easy Trading Connect (ETC) blockchain prototype reduces time spent on processing documents and data from hours to minutes, and allows for a larger trading scope.
Starting today, small and medium enterprises that do business internationally can use Franx: a new digital platform for foreign exchange transactions and international payments. In the Netherlands, there are around 50,000 SMEs doing business in non-euro countries. Franx supports this growing group of businesses. Franx, a subsidiary of ABN AMRO, offers SME business clients a single multi-currency account with a single IBAN which they can use to pay and receive amounts in 26 currencies. And on top of that, the Franx platform enables them to hedge their own currency risk.
ABN AMRO is taking the next step in testing new wearables as a payment method with 500 of its clients. After prior successful internal tests in 2017, clients can now experience what it's like to make contactless payments with a ring, watch, bracelet or keyring. ABN AMRO is the first bank to enable worldwide payment with a wearable that's linked to a current account. As from today, sign-ups are open for clients to participate in a four-month pilot. In exchange for providing the wearables, the bank requests feedback through an app, so the client experience can be continuously optimised while the pilot is ongoing.
As of today, in-store shoppers can use Tikkie to pay for their purchases – before or after they leave, and without even passing the checkout. The pilot has just started at Munch Fit Food To Go in Amsterdam.
ABN AMRO has launched the first version of its Developer Portal, with a series of commercial APIs (Application Programming Interfaces). By working together more closely with external developers, the bank will accelerate innovation and further improve the services for its clients.
ABN AMRO’s Digital Impact Fund has increased its stake in Tink. Following its first investment in this Swedish FinTech in May 2016, the Fund is now taking part in Tink’s second investment round.
For five days, Kaan’s Kaashandel in Alkmaar was in upheaval. Jan Kaan and his sons were busier than ever, processing twice as many orders thanks to the livestream sale of their cheeses. The world’s first Stream Store was followed in 140 countries, with most visitors outside the Netherlands coming from the US, the UK, Canada and Germany. A total of 56,901 cheese lovers visited the online cheese shop. The site was most popular in the US, attracting 11,640 unique visitors.
ABN AMRO is helping the Dutch Heart Foundation raise funds by means of the technologically powerful payment app Tikkie. During the campaign for women's hearts, anyone can donate to the charity using Tikkie. The campaign launches in mid-September. If this new method of fundraising turns out to be a success, ABN AMRO and the Heart Foundation will be looking into further cooperation in the build-up to the Foundation's collection week.
The results of the 2017 GRESB assessment were announced earlier this week. Having been rated fourth last year, ABN AMRO has now taken the top spot in the annual assessment.
ABN AMRO has invested in the innovative FinTech company Cloud Lending Solutions Inc. (CLS). This investment is the second by ABN AMRO’s Digital Impact Fund (DIF) and in line with its first investment in the Swedish FinTech Tink. The corporate venture capital fund DIF focuses on strategic investments in companies that facilitate the digital transformation for ABN AMRO and its clients.
ABN AMRO is proud to announce that Joost Bröker, currently Head of UX Design at online retailer Bol.com, will be joining ABN AMRO Digital Banking as its new Director of Design effective 1 September 2017. This new position at ABN AMRO Digital Banking reflects the bank’s ongoing efforts to give its clients the modern digital banking service that they want.
ABN AMRO MeesPierson has raised its underweight position in commodities to equal weight. In the latest edition of Beleggingsvisie ABN AMROs private bank gives profit-taking as the most important reason for this decision. ABN AMRO MeesPierson has also reduced its overweight position in real estate to equal weight. The bank’s equities position and bond portfolio remain unchanged.
Cryptocurrencies are a new and highly volatile, high-risk investment category just now, rather than a replacement for existing currencies, ABN AMRO MeesPierson has announced in a special report in the new edition of Beleggingsvisie. The new 'investment category' can be used to add diversity to investment portfolios. Given the highly volatile prices, the private bank believes that cryptocurrencies are unlikely to replace existing currencies anytime soon.
Pay-back app Tikkie now has more than a million unique users. This landmark comes a little more than a year after its launch by ABN AMRO, in June 2016. Tikkie is the fastest-growing payment app in the Netherlands: it reached and passed the previous landmark of half a million users in May 2017.
Groningen University (RUG) is the first Dutch university to start sending students a Tikkie payment request so that they can pay their tuition fees on time. The goal: to make sure that fewer students miss lectures because of payment arrears.
