Allianz accelerates to new digital investments
Allianz with its in-house incubator, Allianz X, has switched gears and pivoted towards a new range of digital investments.
Innovation
Amazon brings machine learning to “everyday developers”
Amazon Web Services (AWS) is looking to bring machine learning (ML) to ordinary developers, launching the SageMaker service to simplify building applications, reports Enterprise Cloud News (Banking Technology’s sister publication). ML is too complicated for ordinary developers, AWS CEO Andy Jassy said at a keynote during the AWS re:Invent event. “If you want to enable most […]
Payments round-up: 30 November 2017
We did say there will be no quiet days. Coming straight after yesterday’s (29 November) action, we bring another payments round-up. Features Interac, nanopay, Remitr, ADGM, Nordea, Nets, Facebook and Amazon.
Fintech funding round-up: 30 November 2017
Quickly following on from Tuesday’s (28 November) funding round-up, here are more stories from a cash-drenched world. Features 1QB Information Technologies, FinTecSystems, Betalo, Nordea and Constellation Digital Partners. 1QB Information Technologies (1QBit), a quantum computing firm based in Vancouver, has closed a CA$45 million ($34.9 million) Series B round comprising equity and revenue contracts. This […]
FIS seeks API effect with Code Connect
FIS has unveiled Code Connect – an online gateway that allows its clients and third-party developers to access FIS APIs for use in developing and testing new solutions. With APIs more popular than free alcohol at a fintech conference, FIS joins the masses seeking to capitalise on the API fever. Code Connect includes more than […]
The AI arms race might be a bit more dangerous than you think
In the tech world, an arms race usually a metaphor for two companies battling for supremacy, but McAfee thinks it might be a bit more literal for artificial intelligence (AI) as hackers upskill to make use of the breakthrough, reports Telecoms.com (Banking Technology‘s sister publication). As one of its predictions for 2018, security software vendor […]
Blockchain and Bitcoin round-up: 29 November 2017
Bitcoin high, Russian firsts, trade finance digitisation, US moves, and an interoperability alliance. Another day of action in the busy blockchain and Bitcoin world. Features Sberbank, IBM, Infosys Finacle, BitFlyer and the Blockchain Interoperability Alliance. Doubt you missed it, but Bitcoin has reached an all time high of $10,000. We were inundated with similar comments […]
Amazon closes cloud performance gap with “bare metal instances”
Amazon Web Services (AWS) kicked off its annual re:Invent conference with a new service designed to make its cloud more competitive to enterprise IT in performance and security, reports Enterprise Cloud News (Banking Technology’s sister publication). EC2 Bare Metal Instances gives enterprises the “best of both worlds,” Peter DeSantis, AWS VP of global infrastructure, said, […]
AlphaPoint plans new public blockchain network
AlphaPoint has announced plans to build a new public blockchain network that will enable users to digitise real-world assets and monetise them across new markets, reports David Penn at Finovate (Banking Technology’s sister company). The network, dubbed the AlphaPoint Public Network (APN), will be the first public blockchain built based on Intel SGX technology. AlphaPoint will fund […]
Bankers and retailers – will we see roles switch? Or simply morph into a single discipline?
Technology is having a tremendous impact on the way communities shop so changes are more or less expected as we see these shopping mall operators push back on so many dire predictions being made about them. But can they change and yes, could these changes lead to a greater overlap with banking as it exists today? Do we even need differentiation between the two and yes, will they both be able to keep us satisfied when it comes to access to our cash?
PostFinance has crack at Swiss jackpot with new chatbot
Sprechen Sie Deutsch? Switzerland’s PostFinance has unveiled a German language virtual assistant on its website – generating automatic replies to customers’ most frequently asked questions. PostFinance, keen to tap into the fintech zeitgeist for artificial intelligence (AI), says it’s the “first Swiss financial institution” to launch such a chatbot. It was developed by the IT […]
Fintech funding round-up: 28 November 2017
No slowing down when it comes to the fintech funding action and this week we’ve got three of the latest stories for another ever-informative round-up. Featuring MoneyMe, TreasuryXpress and Chip.
EC’s PSD2 regulatory technical standards set for 2019
With PSD2 on its way in January next year, the European Commission has confirmed the deadline for its regulatory technical standards (RTS) will be around September 2019. By way of recap, the security measures outlined in RTS stem from two key objectives of PSD2: “ensuring consumer protection and enhancing competition”. RTS introduces requirements that payment […]
East vs. East: a comparison of regional fintech trends
With our newest conferences – FinovateAsia and FinovateMiddleEast – back-to-back, we wanted to examine unique trends to those regions, reports Julie Muhn at Finovate (Banking Technology’s sister company). Each place has its own distinctive culture, and with that comes not only individual financial needs, but also a particular set of regulatory rules. These factors not only create […]
BehavioSec’s behavioural biometrics right match for Crossmatch
BehavioSec has partnered with identity management firm Crossmatch in a deal that will add keystroke capture to Crossmatch’s composite authentication platform, DigitalPersona, reports David Penn at Finovate (Banking Technology’s sister company). “We selected BehavioSec’s platform because they are singularly focused on behavioural biometrics and have well-established and proven technology that already serves more than 35 million end […]
HPE: can new boss bring back the magic?
Meg Whitman was a wartime CEO for Hewlett Packard Enterprise (HPE). Now, she says, the company needs new leadership – Antonio Neri, a technologist who came up through the company ranks, reports Enterprise Cloud News (Banking Technology’s sister publication). In a transition announced last week, Whitman is leaving the CEO position in February, replaced by […]
BBVA and Wave test blockchain-based international trade transaction
BBVA, working in collaboration with Wave, performed the first blockchain-based international trade transaction between Europe and Latin America.
Infographic: a look at blockchain technology
This nifty infographic by PWC looks at the blockchain tech, how it works, its benefits and unknowns, cryptocurrency and potential applications.
Debunking six myths on regulatory sandboxes
We are living through a period of unprecedented innovation in finance, and regulators know they need to adapt to keep up with the fast pace of change. To understand and manage the risks posed by new products, services, and business models, many financial authorities are setting up regulatory sandboxes or reglabs.
Wealthtech: a market poised for extended growth
Rapid changes are occurring in the wealth management space and the level of disruption in how advice and capital are managed is only beginning. Wealth management is a monumental industry. The players in the space run the gamut from gigantic hedge funds to individuals who manage their own investments. This changing wealth management landscape is driving a significant uptick in transactions.
Blockchain and Bitcoin round-up: 24 November 2017
That Friday feeling isn’t complete without another round of the latest blockchain and Bitcoin news! Following on from yesterday (23 November) our latest covers Globitex, Billion and Bitcoin Gold.
DBS creates lifestyle branch for tech generation
In a move to attract the tech generation to branches, Singapore’s DBS has launched a “lifestyle space” providing freshly brewed coffee, interactions with humanoid robots and a virtual reality (VR) area for retirement planning.
Maybank brings facial and voice recognition to its Maybank2u app
Malaysia’s largest bank, Maybank, has unveiled its facial and voice recognition authentication for its customers accessing their Maybank accounts using its Maybank2u app.
Top fintech stories this week – 24 November 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Fintech alliance round-up: 23 November 2017
It’s that time again where alliances are formed and friendships are made in our latest co-operative filled round-up. Featuring the Monetary Authority of Singapore, Abu Dhabi Global Market, Dubai Financial Services Authority, Australian Securities and Investments Commission, and Iran and Malaysia planning to establish banking ties.
Blockchain and Bitcoin round-up: 23 November 2017
Following on from the action on Tuesday (21 November), our latest blockchain and Bitcoin round-up focuses on partnerships and future potential. Featuring BDA, Bitstamp, ModulTrade and Bank of Japan.
What WeChat’s domination in China tells us about mobile banking in the coming age of the super app
Through increasing functionality and by consistently pushing boundaries, super apps could have the power to influence, shape and even redefine m-commerce of tomorrow. Tom Wood, co-founder and managing partner of experience design agency, Foolproof, shares his insight on the opportunities that super apps could bring to m-commerce.
ING has a thing for data analytics
ING Wholesale Banking has set out its plans to increase investments in data analytics and put more resources into Asia and the Americas. It’s very early days as its ambitions and goals offer no real specifics. Stats and timelines are like good service in shops in the UK – i.e. almost nowhere to be seen. […]
BMO Financial Group injects $2m into Montreal AI lab
BMO Financial Group is putting $2 million into Creative Destruction Lab Montreal (CDL-Montreal) to fund artificial intelligence (AI) and data science projects. CDL-Montreal will target seed-stage start-ups by providing business and technology mentoring, equity opportunities and business development partnerships. On 15 December, the first cohort of 28 businesses, made up entirely of AI start-ups, will […]
Robots have got OCBC’s retail banking backend covered
Hey humans! Feeling down? Well let’s get down some more. OCBC Bank has launched two robots to enhance internal backend processing speeds in its retail banking secured lending (CSL) and finance teams. The robot attached to the CSL team assists with housing loan re-pricing. This includes processing time, which “has been almost entirely reduced” (i.e. […]
Standard Chartered and Axis Bank launch cross-border payments via Ripple
Standard Chartered and Axis Bank have unveiled a real-time cross-border payment service for corporates using Ripple’s distributed ledger technology (DLT) solution. This offering is now commercially available between Standard Chartered (Singapore) and Axis Bank India, and, accessible through Standard Chartered’s corporate digital banking platform, Straight2Bank. Himadri Chatterjee, president, transaction banking, Axis Bank, says by using […]
Interview: Nadish Lad, Volante – destiny and dreams
In an exclusive interview with payment specialist Volante Technologies, Nadish Lad, director – head of payments product, explains the firm’s foundation, vision and its key unique selling propositions (USPs).
Three crucial questions for insurance’s digital future
Insurance is an industry at a turning point. Few could have predicted that “innovation” would become one of its watchwords, but as the digital revolution spurred on by insurtech gathers pace fundamental changes are beginning to take hold.
RBC to open AI lab in Montreal
Borealis AI, a Royal Bank of Canada (RBC) Institute for Research, will open an artificial intelligence (AI) lab in Montreal. Borealis AI has partnered with McGill University Professor, Jackie Cheung, as academic advisor for the lab and will work with the Montreal Institute for Learning Algorithms (MILA). The team anticipates opening the doors of the […]
Interview: Javier Santamaría, EPC – SCT Inst, catalyst for a new world?
It may not provide all the ticks on everyone’s wish list, but the new SEPA Instant Credit Transfer Scheme (SCT Inst) could well be the start of something even more seismic for the European payments sector and also pave the way for a different, more immediate way of conducting business.
European Payments Council’s SEPA Instant Credit Transfer scheme goes live
The Single Euro Payments Area (SEPA) Instant Credit Transfer (SCT Inst) scheme created by the European Payments Council (EPC) is now operational. As of today (21 November), the EPC says nearly 600 payment service providers (PSPs) from eight European countries are offering instant payment solutions based on SCT Inst. It was launched last year, with […]
RiskMinds Live: streamed sessions from RiskMinds International
We’re live streaming from RiskMinds International 2017!
Fujitsu and Sensory are the face of biometrics for Mizuho
Fujitsu has teamed with Silicon Valley-based Sensory to provide face biometric authentication for Mizuho’s mobile banking. Mizuho is the first customer of the Fujitsu and Sensory partnership and it will be using TrulySecure. This solution’s features include the option to fuse voice and face biometrics recognition together; and it works with Android, iOS, Linux and […]
Payments round-up: 20 November 2017
It pays to pay attention to the pacey payments precinct. Our latest round-up comprises Glint’s golden launch, BillPro’s licence and QR codes in Singapore. Glint, an electronic payment system that enables gold to be used as a currency, has launched its account and app based technology in the UK. Jason Cozens, CEO, Glint, says: “Everyone […]
European Association for Biometrics conference: easing the digital journey
Customers are impatient and friction leads to lost sales – a key takeaway from last week’s seminar on the use of “Biometrics in Banking and Payments” organised by the European Association for Biometrics. Researched flagged by Michael Sass, VP market product management, security solutions Europe at Mastercard, highlighted the potential impact on revenue; abandonment rates […]
