Why the Uberisation of the banking industry can’t come soon enough
Building emotional bonds with customers is a strategic imperative, and why the change programmes currently being undertaken at banks need to recognise the hidden lessons of Uber.
Innovation
Challenger bank: Starling – purple reigns
UK challenger bank Starling talks about finding its niche and how it intends to prosper in an increasingly competitive space – all in preparation for its 2017 launch.
ABN Amro pilots blockchain in commercial real estate
Amsterdam-based ABN Amro Bank has launched a pilot to explore how its blockchain application Torch can be used in real estate transactions to record and exchange information. The bank says real estate transactions involve numerous parties, such as buyers, sellers, tenants, landlords, appraisers, notaries, banks, the Land Registry Office, the Chamber of Commerce and regulators. […]
Bankia Fintech accelerator opens up for fintech start-ups
Bankia Fintech by Innsomnia, the “first” incubator and accelerator in Spain, is calling for start-ups to submit applications. Spanish bank Bankia and Valencia-based fintech firm Innsomnia have teamed up, and are looking for five ideas, start-ups or spin-offs of consolidated companies to develop their activities in almost every area of the fintech industry. Jose Ignacio […]
A sea of penguins
I am blind as a bat, and there are times when it’s an advantage to be blind, or deaf, or even dumb to certain insults, certain situations, certain obstacles. Clearly it’s a double-edged sword because being deaf, dumb, and blind to impediments, pitfalls, and danger zones is just asking for disaster.
Top fintech stories this week – 16 December 2016
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Australia offers world-first licensing exemption for fintech
Innovation Down Under gets jazzed up. The Australian Securities and Investments Commission (ASIC) has released class waivers to allow eligible fintech firms to test certain specified services without holding an Australian financial services (AFS) or credit licence. ASIC commissioner John Price says its fintech licensing exemption is “unique” and “no other major jurisdiction has implemented […]
Banking Technology Dec 2016 / Jan 2017 issue out now
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
Lending start-up Taplend launches in UK
Fintech start-up Taplend has launched in the UK offering a combination of peer-to-peer (P2P) and payday lending. Viktor Ihnatiuk, CEO and co-founder of Taplend, says: “This was a very long, hard and interesting year. We made three iterations of the product, tried to enter the US market twice and failed. We didn’t give up, switched […]
Wealthy stay healthy with Charles Schwab’s new hybrid advisor
US-based Charles Schwab has launched its Schwab Intelligent Advisory, a hybrid advisory service that combines people and a robo-advisor. Schwab Intelligent Advisory will provide investors with a financial plan, guidance from “certified financial planner professionals”, and a fully automated portfolio using algorithm driven technology. The service is expected to launch in the first half of […]
Face the ace for NEC and Sumitomo Mitsui cashless payments trials
Tokyo-based IT provider NEC Corporation is conducting trials for cashless payment services using NEC facial recognition technology in co-operation with Sumitomo Mitsui Financial Group (SMFG), Sumitomo Mitsui Banking Corporation (SMBC) and Sumitomo Mitsui Card. The SMBC trials will continue to 30 January 2017, involving around 1,000 employees at the dining facilities of SMBC’s head office. […]
RegTech Futures: hipsters, hackers and hustlers – making innovative compliance a reality
At last week’s RegTech Futures summit in Amsterdam, organised by FinTech Futures and supported by Banking Technology, the potential of regtech innovators to re-imagine compliance – reducing the cost, creating more robust systems and creating new opportunities for deeper digitisation – was discussed in depth.
Innovate Finance launches new fintech start-up competition, Pitch360
Innovate Finance, a UK-based fintech membership association, has unveiled its first ever start-up competition, Pitch360. Open to applicants from around the world, Pitch360 offers a 360-second (six minute) pitch of a new business and product in front of a live audience of influencers, investors and media professionals as well as access to Innovate Finance’s member […]
Fintech funding round-up: 13 December 2016
Who is investing in what? Our latest fintech funding round-up, mercifully brief as usual. Featuring ApplePie Capital and Firepay.
Blockchain: a real opportunity for retail financial services
Given the pace of change and innovation underway in traditional industries it would take a brave person to predict how the finance industry will look in five years’ time, however I don’t believe high street banks will disappear and be replaced by online blockchain alternatives, the regulatory hurdles are just too high.
Fintech funding round-up: 12 December 2016
With so much fintech funding activity going on, we’ve summarised the latest fundraising efforts of start-ups. Featuring Lunar Way, FXCH and Polychain Capital.
Mobile banking tech start-up Bankjoy signs two credit unions
Fintech start-up Bankjoy has secured two clients for its online and mobile banking software, Georgia Heritage Federal Credit Union and Wepawaug-Flagg Federal Credit Union.
Mobey Day Toronto: Machines of loving grace
Don’t rage against the machine, just embrace its potential and look at the real world applications. The world of machine learning (ML) came under the spotlight on day two of Mobey Day in the great city of Toronto. At yesterday’s (8 December) sessions at the Four Seasons Hotel, about 300 delegates enjoyed panels and presentations […]
Top fintech stories this week – 9 December 2016
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Mobey Day Toronto: The disruption paradox
Teamwork triumphs in Toronto. The theme of collaboration between start-ups and the big players dominated day one of Mobey Day. While some in the fintech industry say they’re disruptive, it seems that’s no longer true as they all look to work together. At yesterday’s (7 December) sessions at the elegant Four Seasons Hotel in Toronto, […]
Fintech funding round-up: 8 December 2016
Fintech funding stories can be fun if they are brief. Featuring MoneyLion, SETL and Finicity.
Fintech tour Toronto: Ontario calls for venture capital
Ontario in Canada is calling for more venture capital to come to the region as it looks to boost its fintech industry. This is the main message from a tour of Toronto, given to the international media by the Ministry of Economic Development and Growth (MEDG).
IBM launches blockchain ecosystem on Hyperledger Fabric
IBM has unveiled a blockchain ecosystem “to help accelerate the creation of blockchain networks”. The programme “is designed for innovators looking to build real networks – venture capitalists, start-ups, systems integrators, independent software vendors and enterprise developers”.
Digital challenger bank N26 goes pan-European
Germany-based mobile bank N26 is taking its business fully across 17 European countries, including Spain, Italy, Greece, Ireland and Slovakia. Until now, some of these locations were in the “soft launch” phase.
Metro Bank joins Faster Payments Scheme
UK-based Metro Bank says it has become the first high street bank to join the Faster Payments Scheme (FPS) since its launch.
Bank of Lithuania promises one-week response to fintech licence enquiries
Bank of Lithuania, the country’s central bank and regulator, promises to provide preliminary answers to financial institution licence enquiries within one week, “the fastest turnaround in the EU”.
Alipay partners with major European banks and payment provider
Alipay, one of the world’s largest online and mobile payment platforms, has inked deals with BNP Paribas, Barclays, UniCredit, and SIX Payment Services to drive the European expansion.
LandlordInvest now fully authorised by FCA
LandlordInvest, a peer-to-peer (P2P) lending platform for buy-to-let and bridging loans, has gained full authorisation from the UK regulator, Financial Conduct Authority (FCA).
Weapons of mass distraction: worrying about the wrong fintech revolution
Reading the technology news these days you could be forgiven for thinking that some seismic revolution is occurring almost every day! Stories abound of Airbnb, Facebook, Uber, Alibaba taking over the world and demolishing our traditional business models – ushering in a new age where the “interface is king”. But are they revolutionary and game changing disruptors? I am not so sure…
Leveris looks to raise €15 million for core banking software business
A new core banking software vendor, Leveris, looks to raise €15 million from international venture capital firms, and is working with stockbroker Davy on the transaction.
Santander InnoVentures invests in Tradeshift
Business commerce and supply chain finance platform Tradeshift has got an investment from Santander InnoVentures.
Amazon Web Services to certify fintech firms
Amazon Web Services (AWS) has launched Financial Services Competency to certify its partners that specialise in the financial services space.
Fintechs to get bank charters in the US, but there are caveats
The Office of the Comptroller of the Currency (OCC) in the US intends to grant federal bank charters to fintechs.
Digital messaging platform Viber gets banking chatbot
Comtrade Digital Services has built an automated banking platform that enables users of online/mobile messaging platform Viber to perform a range of banking operations entirely through a chatbot.
MyState live with new digital software from Rubik Financial
Australia-based financial services group MyState has gone live with new digital platform, built by domestic vendor Rubik Financial.
Top fintech stories this week – 2 December 2016
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Barclays Accelerator open for applications from fintech start-ups
Barclays Africa and Techstars are inviting start-ups to apply for the Barclays Accelerator programme – “an initiative aimed at uncovering the next M-Pesa or Paypal”.
BNY Mellon sets up global innovation group
BNY Mellon’s treasury services business has created a global innovation group and appointed Christopher Mager to lead it.
New mobile bank Pepper goes interactive with Playbuzz
Bank Leumi’s new mobile banking subsidiary, Pepper, is working with digital authoring platform Playbuzz “to enhance user experience and engagement through personalised content”. Content created with Playbuzz’s suite of interactive formats, such as polls, quizzes and flip cards, will be embedded into Pepper’s banking app (to be launched in Q1 2017).
Nymbus unveils first core banking system client, Chrome FCU
Chrome Federal Credit Union (formerly Washington Community Credit Union) has become the first known taker of the SmartCore core banking system supplied by Nymbus.
