The Monetary Authority of Singapore (MAS) has signed agreements with France’s Autorité de Contrôle Prudentiel et de Résolution (ACPR) and the Autorité des Marchés Financiers (AMF) to enhance fintech co-operation between both countries. ACPR is responsible for supervising the banking and insurance sectors in France, while AMF is an independent public authority responsible for ensuring […]
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, Kate Bolton, head of PR and communications at Temenos, explains “Collaboration for Good” – the world’s first banking industry charity challenge. Collaboration, it […]
UK Export Finance, the country’s export credit agency and a government department, is looking to recruit a new head of IT.
At yesterday’s Citi Digital Money Symposium, the question of a strategic response to fintech and the broader innovation challenge was posed to speakers from a number of large incumbent firms in the financial services sector.
SAP Ariba has unveiled its plans to use blockchain across its cloud-based applications and business network for trading goods and services. Among the first applications that SAP Ariba sees potential in involves the tracking and tracing of goods. SAP Ariba will join forces with Everledger, a London-based fintech firm. The latter captures the defining characteristics […]
Wanda Internet Technology and IBM have signed an agreement for the former to enter the public cloud business in China. This will be done via a new firm – Wanda Cloud Company – built on the IBM Cloud Platform.
Inter-American Development Bank (IDB) and Florida-based fintech firm Above & Beyond (A&B) have unveiled “Finconecta”, a ten-month programme which integrates fintechs and financial institutions (FI) in an interconnected ecosystem. The technology platform behind it is called “Forward”, which was built by A&B, and is described as an app store-styled marketplace that allows firms to expose […]
Jack Henry & Associates, one of the “big four” banking technology vendors in the US, has joined forces with personal financial management (PFM) firm Geezeo to help consumers manage their finances.
Banking Technology puts the banking innovation in the US under the spotlight. The market is not short of digital offerings: Simple, Moven, Kabbage, Acorns, Earny, Debitize, MagnifyMoney and more – take your pick!
The Financial Services Agency of Japan (JFSA) and the Monetary Authority of Singapore (MAS) have established a co-operation framework for fintech links between both countries. The framework enables MAS and JFSA to refer fintech companies in their countries to each other’s markets. It also outlines how the referred companies can initiate discussions with the regulatory […]
Barclaycard and Uber have agreed a new commercial agreement that will see Barclaycard customers get “exclusive offers” when they use their personal card to pay for their Uber rides. The deal means Barclaycard’s personal credit card customers can get a free Uber ride, up to the value of £15, for every ten that they take […]
Two Berlin-based fintech firms, Penta and SolarisBank, have joined forces to provide German businesses with “fast access to bank accounts”.
Vizag, the commercial capital of Andhra Pradesh, India, continues to build relationships and develop as a fintech centre.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
The Monetary Authority of Singapore (MAS) is partnering with R3, and a consortium of financial institutions on a proof-of-concept project to conduct inter-bank payments using blockchain. This project, which is seen as a rival to Swift’s network, will potentially create a payment system for participants to transact in different global markets round-the-clock. Sopnendu Mohanty, chief […]
The Financial Services Agency of Japan (JFSA) and the UK’s Financial Conduct Authority (FCA) have exchanged letters on a co-operation framework to support fintech companies. This deal will provide a regulatory referral system for “innovator businesses” from Japan and the UK seeking to enter the other’s market. The authority that receives such a referral will […]
The International Standards Organisation (ISO) Financial Services Committee (TC/68) has unveiled its new global committee, the Fintech Technical Advisory Group (TAG), to act as a sounding board for data and technology standards. The group’s goal is to establish a “proactive dialogue” with financial institutions, their regulators, and supply chain and fintech firm. TAG’s objectives are […]
The Monetary Authority of Singapore (MAS) and Abu Dhabi Global Market (ADGM) have signed a co-operation agreement to help fintech entrepreneurs and support innovation in financial services in Singapore and Abu Dhabi. The agreement establishes a framework for both regulators to assist start-ups and innovators to understand the regulatory regime in each jurisdiction and provide […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Banco Santander, BNY Mellon, Intel, JP Morgan and Microsoft are some of the big names behind the launch of a new blockchain alliance. Called the Enterprise Ethereum Alliance (EEA), it plans to drive Ethereum blockchain technology best practices – “focusing on security, privacy, scalability and interoperability”. This development creates another rival for the R3 blockchain […]
Developing new services, adopting the latest technologies and collaboration are the top priorities among payment schemes worldwide, according to a new study.
Bank of Baroda, a public sector bank in India, has launched a fellowship programme to support fintech, rural, agricultural and financial inclusion start-ups.
Barclaycard has signed two new bPay partnerships to embed contactless payment technology in watches and jewellery in the UK. The agreements are also designed to complement bPay’s proprietary range – which comprises a wristband, fob, sticker and loop – and the existing partnerships that already see the technology, which is powered by Visa, embedded within […]
Nordea Liv, a life insurance arm of Nordea, has worked with Norwegian fintech start-up Spiff to create a new app that will motivate customers to save money to reach goals.
Standard Chartered China is partnering with Tencent Financial Technology Group (Tencent FiT) to launch a new e-commerce solution for corporates. The deal makes Standard Chartered the “first global bank to offer a one-stop online collection solution with WeChat Pay” and combines its cash management offering with the online payment gateway. The bank says it can […]
IBM has unveiled a large ecosystem initiative as it opens the doors of its new $200 million global headquarters for its Watson Internet of Things (IoT) business in Munich, Germany. BNP Paribas, Capgemini and Tech Mahindra are some of the firms who will place development teams at the IBM centre. Harriet Green, general manager, IBM […]
Major global transaction banks are now live with Swift’s global payments innovation (gpi) initiative.
Japan’s Financial Services Agency (FSA) is looking to work closer on banking supervision with the Central Bank of the Islamic Republic of Iran (CBI). The pair have exchanged letters on co-operation and the plan is to examine the performance of their respective duties for the “safe and sound functioning” of banking organisations in their countries. […]
Australia-based banking software and services vendor Rubik Financial is to be taken over by Temenos. The deal is valued at $50 million.
Hellenic Bank has opened an innovation lab in its home city of Nicosia, Cyprus.
US-based First Data and KeyBank have teamed up to offer merchant services to the latter’s commercial, business and government clients across the country. The partnership will allow KeyBank to offer First Data’s entire portfolio of business tools, including the Clover platform which lets business owners accept payments, manage inventory, track sales, and access analytics and […]
Several Indian Bitcoin start-ups have formed the Blockchain and Virtual Currency Association of India as they look to quell investors’ virtual currency fears becoming a reality. Coinsecure, Searchtrade, Unocoin and Zebpay have banded together in response to the Reserve Bank of India’s (RBI) recent circular warning people that it has not authorised dealings in or […]
BankUP, a new fintech venture based in Kontich, Belgium, looks to tap into the European SME banking market.
United Nations, together with 19 banks and investors worldwide, have launched “a global framework aimed at channelling the money they manage towards clean, low carbon and inclusive projects”. The framework – The Principles for Positive Impact Finance – is a first of its kind set of criteria for investments to be considered sustainable, says the UN.
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.
British and American governments, businesses, and others have formed P20 – a group of “influential leaders” and the “first” Transatlantic payments initiative of its kind. Its inaugural meeting is to be held in autumn 2017 in London, where 20 people in the payments industry, and US/UK government officials and regulators will meet. It will rotate […]
Irish Funds is working with Deloitte and others to develop a blockchain proof of concept (PoC) for regulatory reporting. The project will focus on the Resident Investment Fund Returns (Money Market and Investment Funds Returns Reporting – MMIF) regulation and will use blockchain and smart contract technology to create a platform for regulatory reporting accessible […]
Barclaycard is partnering with VocaLink to enable its merchants to accept mobile payments through Pay by Bank app. Pay by Bank app, created by VocaLink’s payment innovation team Zapp, will allow shoppers to pay for goods and services on a mobile device, without the need to enter credit or debit card details. Rajiv Garodia, managing […]
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.
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.
