Game-changing innovations, paradigm shift and synergy… Buzzwords no more! The Rainmaking Summit tapped a frustration with the kind of language that obfuscates more than it clarifies, initiatives that pay lip service to innovation while skirting around the edges, and the cultural, organisational, and technological blockers to change that define many large corporates.
Synergy Research has released its latest findings for the global cloud computing market, painting a worrying picture for any challengers looking to cash in on the craze.
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
There are many reasons to be excited about insurtech in 2017!
BBVA Compass has unveiled a “goodwill impairment” charge of $60 million in its latest financial results, attributed to its direct banking service subsidiary, Simple. BBVA bought Simple in 2014 for $117 million. It has since written down $89.4 million.
Swiss online bank Swissquote has developed a virtual reality (VR) trading application that enables users make trades with a glance. The VR headset creates a 360° trading wall for users to monitor the markets.
SIX Payment Services brings to market PayLife 0100, Austria’s first mobile credit card.
Switzerland’s Federal Council has issued a consultation paper on amendments required to its Banking Act and Banking Ordinance, to create an environment that helps fintech start-ups thrive in the country.
Scotiabank has updated the market on how it has adopted the digital technology so far and how it plans to become a “digital leader” in its five key markets.
Citi’s institutional e-banking platform, CitiDirect BE, will now use MobilePASS which lets corporate users replace their physical login tokens with their personal mobile devices for authentication.
The New Zealand Tech Industry Association (NZTech) is launching a new working group, FinTechNZ, which will focus on financial innovation and technology. This working group will be inaugurated in Christchurch, Wellington and Auckland next week.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Africa is becoming a very interesting fintech innovation hub (in particular South Africa, Nigeria and Egypt). As much as 80% of the continent is unbanked, opening the door to a breadth of opportunities for fintech companies to seize market share.
The Wall Street Blockchain Alliance (WSBA), a US-based non-profit trade organisation, has set up a new working group – the Blockchain Assets Working Group (BAWG). It will focus on “native assets riding upon public blockchains, such as Bitcoin, Ethereum, Zcash, and more”, WSBA explains.
Turkey’s largest bank Isbank has launched a new P2P money transfer service, called “social account”, available for the “first time” in the republic. The launch quickly follows on from the release of its new app, IsCep, to allow “for the first time” banking and stock exchange transactions through one application with real-time data. With the […]
The world moves fast, so you need a fast read. A round-up of key events to save you time. PayCommerce, an open cross-border payments network, has completed its real-time, cross-border payment, clearing and settlement testing. It is the first phase of its multi-country global roll out strategy and was done between the US and India. […]
The dynamic and successful world of UK fintech has left the British public shocked as they’ve become numbed to shoddy customer service, invisible trains and useless politicians. Banking Technology took to the litter-strewn and phlegm-coated streets of London to inform the citizens about the nation’s start-ups, innovation, energy and can-do attitude. And to gauge the […]
The Dubai Financial Services Authority (DFSA) has issued a consultation paper, “Crowdfunding: SME Financing Through Lending”. The paper proposes a regulatory framework for anyone looking to operate a loan-based crowdfunding platform in the Dubai International Financial Centre (DIFC).
California based technology companies Varo Money and Envestnet | Yodlee have teamed up to drive fintech innovation. Varo Money, a mobile-only banking start-up hopes to leverage Envestnet | Yodlee’s data analytics and aggregation platform to provide customers with a more customised mobile banking experience, and better insights into their financial well-being.
The National Bank of Abu Dhabi (NBAD) is the first Middle East bank to introduce real-time cross-border payments on Ripple’s blockchain network. Ripple says its tech fits within NBAD’s existing infrastructure and offers an end-to-end payment flow providing “transaction immutability and payment integrity”. Vineet Varma, managing director and head of global transaction banking, NBAD, says […]
Swift Innotribe has partnered with the Russian National Swift Member and User Group (Rosswift) comprising the Bank of Russia, the National Settlement Depository, Sberbank, and Alfa-Bank, to launch its first start-up challenge in the region.
Swift Innotribe’s “Start-up Challenge for Africa” is open for applications. For the third year running, the challenge will be part of Swift’s African Regional Conference (ARC) held in Abidjan, Ivory Coast, from 16-18 May 2017. ARC typically attracts up to 500 delegates from around 40 countries, according to Swift. It offers the usual mix of […]
Tech consultancy firm Capgemini is calling for start-up applicants for its InnovatorsRace50 competition – with the chance to win equity-free funding of $50,000. To celebrate 50 years since its launch, Capgemini’s InnovatorsRace50 wants entrepreneurs and “disruptive early-stage start-ups” to apply. The top five businesses, one from each theme, will win equity-free funding of $50,000 each. […]
UK-based mobile banking firm Tide has launched with its business account app for SMEs. As Banking Technology reported in July 2016, Tide was gearing up for its launch and said it will offer a “nimble small business current account”, with a swift set-up and no monthly fees. It claims to be among the “world’s first” […]
Powered by the Bill and Melinda Gates Foundation, the Digital Financial Services (DFS) Innovation Lab has launched a new high-intensity fintech bootcamp for companies in Sub-Saharan Africa and and South Asia.
Bank Central Asia (BCA), an Indonesian bank with over 1,100 branches and 17,000 ATMs, has established a venture capital company, Central Capital Ventura (CCV). CCV has a paid-up capital of IDR 200 billion ($15 million).
BNP Paribas Securities Services has acquired a minority stake in an Fortia Financial Solutions. This deal helps Fortia, a start-up that provides compliance software to the financial services industry, cement the relationship it formed with the bank during the inaugural session of the fintech accelerator by L’Atelier BNP Paribas.
DCB Bank, a private sector bank in India, plans to allow customer transactions and account opening through iris scans for Aadhaar authentication. The Aadhaar infrastructure, created by the Unique Identification Authority of India (UIDAI), onboards customers and provide them with online services. UIDAI collects the biometric and demographic data of residents, stores them in a […]
Francisco Lorca, MD of Startupbootcamp FinTech London, a UK-based accelerator, highlights the pitfalls of starting a fintech firm, drawing on his extensive 17-year experience in finance and entrepreneurship.
Turkey’s largest bank Isbank has unveiled its new app, IsCep, to allow “for the first time” banking and stock exchange transactions through one application with real-time data. The bank says IsCep has been integrated into its Mobil Borsa (mobile stock market) and is also available for all foreign customers in Turkey. Isbank deputy chief executive […]
There was an interesting discussion at the recent Finance Disrupted event in London, organised by The Economist, that highlighted the opportunity for regtech to support financial inclusion.
Canada’s Scotiabank has opened its new 70,000 square-feet “digital factory” in Toronto for fintech innovation. It is designed to be an innovation hub and incubator for the 23 million Scotiabank customers across the world, and is one among five centres in a network of such fintech-focused innovation centres. Mexico, Peru, Chile and Colombia will be […]
Pan-African banking conglomerate Ecobank has launched a fintech challenge for start-ups. The event, open to Africa’s entrepreneurs, innovators and developers, provides an opportunity to win $500,000 in funding as well as partner with Ecobank and roll out services across 36 countries.
While many traditional tech giants have been struggling to come to terms with the connected economy, SAP’s latest earnings indicate it is adapting well to the world of cloud computing.
Citi’s global perspectives and solutions team has issued a 100-page report on digital disruption in the fintech industry. It has analysed venture capital (VC) investments in the fintech industry between 2010 and 2016, as well as the emerging technologies across the globe.
As with any revolution, open banking will have winners and losers. How to stay competitive in the digital era?
Commonwealth Bank of Australia (CBA) has issued a cryptobond for Queensland Treasury Corporation (QTC) using its capital markets blockchain platform. CBA says it is “the first blockchain bond issuance by a government entity both in Australia and in the world”.
Fintech start-up Railsbank has signed its first partner, Arkéa Banking Services (Credit Mutuel Arkéa’s subsidiary), to use its platform to deliver SEPA payment services and IBANs across Europe.
Austria’s Erste Bank und Sparkassen can now verify new customers’ IDs via video. The functionality has been developed with specialist provider IDnow and introduced just a few weeks following the approval by the country’s Financial Market Authority (FMA).
The British Columbia Securities Commission (BCSC) wants to serve the fintech firms in the state better.
