Top fintech stories this week – 22 September 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Innovation
Sun Life looks for life with fintech start-ups
With the unveiling of its new corporate headquarters at One York Street in Toronto, Sun Life Financial has made it loud and clear it’s on the prowl for fintech start-ups. The super-shiny, 35-storey, 800,000 square foot office tower, is a mighty site/sight and will offer connection to Toronto’s Union (railway) Station and PATH network (i.e. […]
Hitachi creates IoT focused big data company Vantara
When we hear Hitachi two things come to mind; 80s style radio and construction vehicles. This might be a perception the team will want to address as Hitachi enters the internet of things (IoT) world, reports Telecoms.com (Banking Technology’s sister publication). Combining the capabilities of three separate brands, Hitachi Data Systems, Hitachi Insight Group, and […]
SEI and Coinfirm concur for blockchain-powered asset transfers
Wealth management firm SEI is partnering with London-based blockchain company Coinfirm as they plan to tap into the UK’s asset transfer market. Coinfirm and the SEI Wealth Platform will use digital ledger technology (DLT) – and as with 99.9% of comments on any blockchain project, SEI says its solution will reduce costs and risks. Brett […]
3 Reasons Asia Is the Perfect Incubator for Fintech Innovation
Fintech investments in Asia-Pacific reached $10.5 billion in 2016—the highest amount to date since 2010, according to CB Insights data. See what’s behind the boom and why it matters.
Kenya leads Africa in financial inclusion innovation
Kenya is leading the way when it comes to digital innovation for financial inclusion in Africa, according to research by the Consultative Group to Assist the Poor (CGAP). Earlier this year, CGAP says it invited firms and organisations to submit proposals for digital innovations they believe have the most potential to advance financial inclusion in […]
Interview: Aleksey Chubar, VTB – leading a fintech revolution in Russia
If you’ve got preconceptions about what fintech looks like and where it’s happening, then Aleksey Chubar, head of digital transformation at VTB, has news for you. Russia is becoming a hotbed of fintech innovation – not just domestically, but internationally too. More than that, the rapid pace of technological change in the country means you’ll soon wonder how you got left behind.
Avoid a regtech downfall with The Bunker’s new sandbox service
The Bunker, a UK-based data storage and managed services provider, has launched a new sandbox service for start-ups seeking to develop applications for the financial services market and cope with regulations. It’s got some backing for its plans as innovation network Barclays Rise “will also play a supportive role in helping to identify early stage […]
Can money buy friends? Intel is hoping so
Intel has shown its defensive side with a humble-brag that it has invested $1 billion in artificial intelligence (AI). We didn’t realise Intel had to use money to make friends, but each to their own, reports Telecoms.com (Banking Technology’s sister publication). In an editorial piece by CEO Brian Krzanich, Intel has decided to shout at […]
Nainital Bank to launch new digital venture, searches for consulting and tech partner
India-based Nainital Bank is gearing up to launch a new digital venture. It has recently gone to market to find a consulting and implementation partner to help it design, build and launch this venture as well as service it post-launch.
Zambian start-up Zazu plans to be digitally true
Zambia-based Zazu is readying for launch – as it targets being “Africa’s first digital-only bank” and offering a “more personalised solution” than a traditional bank. In November, it will launch with 1,500 prepaid debit cards. It wants to give these out to people who regularly use cards to make payments, so it can improve and develop […]
App it. The future of banking
This morning I was having breakfast with a colleague. I paid the bill, and he sent me his share of the bill using our Monzo app. Before we’d walked out of the café, the money was in my account. Simple!
Fintech alliance round-up: 15 September 2017
The power of love, a force from above, cleaning my soul – flame on burn desire, love with tongues of fire, purge the soul, make fintech alliances your goal. Our latest cuddly round-up features the Securities Commission Malaysia, Dubai Financial Services Authority, Monetary Authority of Singapore, Taiwan Stock Exchange and Nasdaq. The Securities Commission Malaysia […]
BitFlyer competes for Japanese Bankers Association’s blockchain experiment attention
Tokyo-based Bitcoin exchange BitFlyer has been selected as a partner vendor to provide an experimental environment for the Japanese Bankers Association’s “collaborative blockchain platform”. BitFlyer’s proprietary blockchain technology – Miyabi – will be used and the platform is scheduled to begin operation in October. Miyabi is a private blockchain “exclusively” for enterprise users. The experiment […]
Top fintech stories this week – 15 September 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Corporate banking: work smarter, not harder. On user self-onboarding
Why would a bank let their corporates indulge in setting up system privileges online – without keeping close tabs on the process? Here’s why.
Royal Bank of Canada pilots AI-powered finance guide
Royal Bank of Canada (RBC), with the help of Personetics Cognitive Banking’s applications, will deliver two new services this autumn that provide AI-powered financial guidance and an automated savings programme through the bank’s mobile app. The development follows on from last month, when RBC unveiled these two digital services – called NOMI Insights and NOMI […]
Startupbootcamp InsurTech seeks storming start-ups
London-based accelerator Startupbootcamp InsurTech is on the search for the next wave of insurance-inspired start-ups to “take the industry by storm”. Startupbootcamp InsurTech says the process of searching for and purchasing something on Amazon or booking peer-reviewed accommodations in a different country at the touch of a finger, condition people to “expect this fluidity and […]
UK to get New Payment Systems Operator by year’s end
The Payment Systems Regulator (PSR) and Bank of England (BoE) have revealed that the UK will be getting the New Payment Systems Operator (NPSO) by the end of 2017. The duo says that the Payment System Operator Delivery Group (PSODG) has completed the necessary steps to deliver what was asked and so with the NPSO […]
Yes Fintech calls on fintech start-ups worldwide to apply for second cohort
Yes Bank, one of the largest banks in India, us calling for start-ups to apply for the second cohort of its Yes Fintech innovation programme.
AI is starting to get seriously smart, perhaps worryingly so
We’ve seen a couple of artificial intelligence (AI) shout-outs this week with Microsoft targeting telcos’ worryingly poor customer service record and European scientists potentially creating the building blocks for Skynet, reports Telecoms.com (Banking Technology’s sister publication). Starting in the Microsoft offices, the team has paired up with Amdocs to provide an intelligent solution to one […]
We’re at the very beginning of the next technological revolution – Nokia’s CTO
Analyst firm Ovum hosted its Digital Futures event at which Nokia’s CTO explained why we need to fundamentally redesign the network.
FinovateFall 2017: Best of Show winners revealed
The seven companies that earned not just the admiration of FinovateFall 2017 attendees, but their votes for Best of Show, as well, have been revealed, reports David Penn at Finovate (Banking Technology’s sister company). With more than 70 companies demonstrating their technologies live on stage over the course of two days, some diversity in theme […]
Fintech accelerator round-up: 13 September 2017
Around the world, the calls for start-ups ring loud and clear. Our fintech accelerator round-up features F10, Commerce.Innovated and Huge Thing. F10, a Swiss incubator and accelerator, is calling for applications from start-ups in fintech, regtech, and insurtech for its P2 programme. Applications close on 15 December. The P2 programme will start on 5 March […]
Has the face of payments changed forever?
Marieke Flament, European MD at Circle, discusses how technology is transforming the global payments landscape.
Rabobank turns Big Brother with Dynatrace
Digital performance management company Dynatrace is working with Rabobank “to monitor the real-time experience of every customer and user for all services” at the bank.
Intel and Tencent team up for blockchain tech
Chinese investment holding company Tencent and US-based Intel have joined forces to co-operate on blockchain projects.
Come over to my Marketplace says Starling Bank
UK-based challenger bank Starling has gone live with its Marketplace, a new ecosystem of financial products accessible through its app. As reported in June, Starling said it would launch Marketplace at some point. This idea was first discussed back in April, when its developer portal went live. Now the marketplace is alive and kicking and […]
R3, RBS and UK regulator build regtech prototype for mortgages
Enterprise software firm R3, the UK’s Financial Conduct Authority (FCA), RBS and another unnamed bank have built a prototype application for regulatory reporting of mortgage transactions on R3’s Corda distributed ledger technology (DLT) platform. The application is also able to generate automated delivery receipts for the regulator when a mortgage is booked. The application was […]
Payments funding round-up: 12 September 2017
Pineapple Payments announced a $35 million equity investment for its merchant-focused payments technology, PayJoy snagged $6 million while B2BPay won BBVA’s Open Talent Global Fintech for Companies competition.
France is not making many friends with new tech tax idea
The French Finance Minister has put forward new proposals to shake-up the tax set-up for technology companies who are based outside of the European Union, reports Telecoms.com (Banking Technology‘s sister publication). Under the current rules, internet giants such as Google or Facebook are taxed on profits which are generated in Europe, though French Finance Minister […]
The Monday mindset: 11 September 2017
Fintech zeitgeist! Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye. This week, Tim Rogers, engineer at London-based start-up GoCardless, asks do we need to kill screen scraping? If you work in this industry you’ll […]
Blockchain firms R3 and Ripple locked in legal tussle
The blockchain duo of R3 and Ripple are suing each other over an options contract to purchase Ripple’s digital currency XRP, according to Reuters. In September 2016, the two companies entered an agreement giving R3 the right to purchase up to five billion XRPs for $0.0085 per unit until September 2019, according to a lawsuit […]
The Convergence of Prepaid and Fintech Means More Innovation to Come
After his first few months at the helm of the Network Branded Prepaid Card Association, Brian Tate talks about prepaid’s role alongside fintech in the next generation of payments innovation.
What we learnt at CloudSec: life, death and Twitter
Before you get too excited about the down and dirty world of cloud security, we should warn you this is more of a light-hearted report on the quirky things our sister publication Telecoms.com picked up at the CloudSec conference.
Google licks lips at thought of DCI pie
Google might be raising some eyebrows with its traditional business, but the cloud team has started down an interesting route in the world of data centre interconnect (DCI).
Top fintech stories this week – 8 September 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Fears about AI are a load of rubbish – Capgemini
Capgemini has roared into the artificial intelligence (AI) battle with new research which claims the human cost of automation is a myth, reports Banking Technology’s sister publication Telecoms.com. There might be a few people who will raise concern over such a claim, but in a survey of almost 1,000 organisations with revenues of more than […]
IBM and MIT team up for AI research
IBM will make a ten-year, $240 million investment to create the MIT–IBM Watson AI Lab as the duo seek to unlock the potential of artificial intelligence (AI). The collaboration with Massachusetts Institute of Technology (MIT) aims to advance AI hardware, software and algorithms related to deep learning and other areas, increase AI’s impact on industries, […]
Fintech funding round-up: 7 September 2017
The fintech funding is on fire. Following on from yesterday’s (6 September) action, here’s another round-up. Features ABN Amro, Cloud Lending Solutions, Dataiku, EY and Innovate Finance. Amsterdam-based ABN Amro has made an undisclosed investment in US-based Cloud Lending Solutions (CLS) – the second by the bank’s Digital Impact Fund (DIF) and in line with […]
