JP Morgan has launched In-Residence, a new programme for fintech start-ups to use its facilities, systems and expertise. The company says it is inviting start-ups to sit “side by side” with its businesses to develop innovations that could “revolutionise” the sector. Sanoke Viswanathan, chief administrative officer of JP Morgan’s Corporate & Investment Bank, says this […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Brexit threat to UK jobs at Visa Should I stay or should I go? Swift hackers steal $10m from Ukraine bank Massive attack. New challenger bank readies for launch in UK Atten-shun! UK military personnel, veterans and their […]
The Services Family bank will cater for the UK military personnel, veterans and their families. Sopra Steria’s technology will underpin its operations. The digital bank is being created by The Services Family Ltd (TSFL), a financial services firm set up two years ago by two military veterans. It is going through a process of obtaining […]
India’s third largest private sector bank, Axis Bank, has launched a new innovation lab, becoming the first domestic bank to do so in India. Dubbed “Thought Factory”, the lab is aimed at accelerating the development of innovative technology solutions for the banking sector and is expected to work closely with the start-up community. Thought Factory […]
CTO Mark Hipperson, who was also the bank’s co-founder, has recently left Starling. Prior to moving to Starling, Hipperson was a long-standing GM at a UK-based IT consultancy firm, BJSS. Earlier in his career, he was head of technology at Barclays’ corporate banking division (1992-2000). According to FT, this was his comment on his departure: […]
IBM has opened a new Bluemix Garage in New York, to offer the city’s developers, entrepreneurs, and fintech firms the use of blockchain on the cloud. The garage will be located at Galvanize’s (a network of campuses) newly launched New York campus. IBM says this location in “this tech learning community for students, start-ups and […]
Challenger banks have turned their attention to artificial intelligence (AI) as they seek to provide a more personalised approach to banking. German digital bank Number26 has launched Pulse26, a new app that uses AI to provide updates based on the customer’s personal banking history. Number26 says the more a customer uses their account, the “more […]
Banco CTT, a new bank recently launched by CTT Correios de Portugal, the Portuguese post office, has developed a new customer onboarding platform. The platform promises to complete the opening of a new account at Banco CTT in just 20 minutes online. It has been developed together with a local software specialist, Novabase. It is […]
During the two-day MoneyConf event in Madrid, there was an exclusive Banking Technology interview with Matteo Cassina, member of the global executive committee at Saxo Bank. Deputy editor Antony Peyton spoke to him about his opinions on the show and the industry. In terms of MoneyConf 2016, Cassina says: “I do believe there are a […]
Data science and data mining provider, Grace Systems, won MoneyConf’s best start-up in the Pitch competition in Madrid. Around 1,850 people enjoyed the two-day event at the elegant venue of La Nave. Part one of our review of the show looked at wealth management, part two examined biometrics and Santander’s plans, part three was a […]
Love for London’s fintech and awry Brexit predictions – were two of the discussion points from MoneyConf 2016 in Madrid. More than 1,800 people attended the two-day event at the cool venue of La Nave. Part one of our review of the show looked at wealth management, part two perused biometrics and Santander’s plans, while […]
Start-ups should first be focused on domestic markets over global ambitions, was one of the messages amidst the hurly-burly of Madrid-based MoneyConf 2016. More than 1,800 people were on hand for the two-day event held at the pleasant venue of La Nave. Part one of our review of the show was on wealth management, while […]
DB1 Ventures is Deutche Börse’s new dedicated corporate venture capital platform, set up as part of the group’s “Accelerate” growth strategy. The DB1 Ventures team will be primarily based in Frankfurt and will undertake new investments and also manage Deutsche Börse’s existing minority shareholdings. “DB1 Ventures will invest only in areas that are strategic to Deutsche […]
US-based Silicon Valley Bank (SVB) and MasterCard are calling on US start-ups to apply for their Commerce.Innovated accelerator programme. The application process closes on 10th July, and the programme will run September to December. Commerce.Innovated is a four-month, bi-annual virtual accelerator, and this will be the fifth time it is held. Its organisers say it […]
Crestone, a wealth management business created out of UBS Wealth Management Australia, is now open for business, underpinned by Avaloq’s flagship core banking system. Avaloq Banking Suite supports front-to-back office operations of Crestone, multi-asset and multi-currency. Peter Scott, the vendor’s GM for Asia Pacific, says that Crestone was among the first users to apply Avaloq Banking […]
Berlin-based fintech incubator FinLeap and solarisBank have created the first global banking platform, called Solaris – a Banking-as-a-Platform (BaaP) service. What is it all about and how is it going to make its mark on the fintech industry? Devie Mohan interviews FinLeap’s co-founder, Ramin Niroumand. The solarisBank launch has been in the press quite a […]
Banking software vendor Mambu has joined forces with a number of accelerators and incubators to launch a new fintech start-up programme. Partners comprise Startupbootcamp FinTech, 500 Startups, Ynext Incubator by Envestnet/Yodlee, Techstars and Citi Accelerator – and those start-ups that are part of these accelerators and incubators are invited to participate in Mambu’s new venture and […]
UniCredit and Open Bank Project, an open source API and app store for banks, invite fintech developers and start-ups to take part in its Appathon competition. The 2016 Appathon is driven by the Open Bank Project API, developed by the Berlin-based Tesobe Ltd/Open Bank Project. Ten companies will be selected to demo their products in […]
Since 2015 the fintech market has changed dramatically but even bigger changes are yet to come in 2016 affecting financial services big time, believes Francisco Lorca, MD of a London-based fintech accelerator programme, Startupbootcamp. Tech is coming for banking as more fintech start-ups are springing up. There still huge gap between the collaboration of these two but […]
Penta Bank is a new digital banking player in Germany working towards a spring 2017 launch. Penta’s initial target market will be German and French SMEs. “Our target businesses are funded start-ups and SMEs that are cashless,” says Luka Ivicev, Penta’s head of product. Penta has been in the making since February this year. Usability […]
US-based Swirlds has launched its hashgraph distributed consensus platform, an alternative to blockchain, and free for public download and use by developers. Swirlds says it has “emerged from stealth” with the launch and says its hashgraph “goes beyond blockchain”. Dr. Leemon Baird, founder and CEO of Swirlds, says: “Current stock markets are fair in matching […]
A new digital bank for UK businesses and consumers, CivilisedBank, has submitted its banking licence to the regulators, Financial Conduct Authority (FCA) and Prudential Regulatory Authority (PRA). It expects to receive the licence later this year and to open for business in early 2017. Set-up and technology CivilisedBank will not have any branches. It will […]
Former Barclays CEO Antony Jenkins has set up a fintech firm called 10X Future Technologies. Jenkins, who was sacked by Barclays in summer 2015 for failing to transform the bank quickly enough, has appointed himself as the sole director of 10X Future Technologies. He has refused to comment on what he plans to do with […]
National Australia Bank (NAB) and telco firm Telstra have partnered for an SME digital marketplace called Proquo. Proquo will offer more than two million Australian small businesses an online platform to network, trade or swap services with each other. Leigh O’Neill, NAB executive general manager micro and small business, says: “Small business is the backbone […]
ING Belgium has acquired the rights to rebrand Finnish fintech start-up Zervant’s invoicing software across Europe. The software will be marketed as ING invoice solutions and will be sold via its own channels to SMEs and entrepreneurs. During the first phase, ING Belgium will have the rights to sell the tool in Belgium, with a […]
UK start-up Ormsby Street has launched its credit-checking tool CreditHQ in Germany, as part of a new partnership with Deutsche Bank. CreditHQ allows a small business to check the financial health and credit status of any customer or partner and will be available to small business customers of Deutsche Bank. Its German launch is the […]
UK-based start-up Kerv and its payments ring won the Innovation Jam at the Temenos Community Forum (TCF) 2016, held at the Palau De Congressos, in Barcelona from 17-19 May. About 1,200 delegates were at the event and part 1 of our review looked at Temenos’ ambitions in the US. The event enables customers, potential customers, […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Android Pay now in the UK; Australia and Singapore are next Coming to a country near you… possibly. Vietnam’s Tien Phong Bank stops attempted fraud through Swift system Stop! In the name of the law. Sydney Stock Exchange […]
Capital One UK is inviting fintech start-ups to join its newly launched Capital One Growth Labs – “an accelerator programme for early-stage start-up and high-growth companies”. The initiative is supported by technology investor L Marks. The aim, states Chris Owen, programme leader, is to discover and partner with the new fintech talent and “and unlock the truly […]
With so many new banks trying to muscle into the UK banking sector, spurred on by the reduced barriers to entry and calls for competition, Banking Technology wonders: will this boom be followed by a bust? In the meantime, make hay whilst the sun shines! Here is our guide to who’s who in the UK […]
With news on crowdfunding and investment appearing with relentless regularity, here’s a round-up of key events to save you time. UK challenger bank Tandem has now revealed the money it’s raised and its valuation – all in preparation for a crowdfunding campaign that starts on 20 May. Money raised comes to £22 million and it […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Perception brings to market new core platform UK credit unions, lenders and start-up banks take note. ING adds some zing to start-up ring It’s working with 45 start-ups on banking innovation. Punjab National Bank to modernise enterprise data […]
Royal Bank of Scotland (RBS) is powering its new Open Experience centre with Red Hat technologies, including the Red Hat Mobile Application Platform and OpenShift Enterprise, Red Hat’s web-scale container application platform. Open Experience was launched by RBS in February at its HQ in Edinburgh (UK) to pursue “innovative new technologies for the bank and […]
Barclays is providing £1 million in funding to UK-based AccessPay to support its growth and further develop their relationship. Access Systems (trading as AccessPay) provides a cloud-based connectivity layer between a business’s finance systems, their banks and “all of the major” UK and international payment networks such as BACS, Swift, SEPA, Faster Payments and Direct […]
Nordea says it will be the “first” bank in Finland to offer its customers an equity-based crowdfunding service. It has developed an online crowdfunding platform that will match entrepreneurs seeking financing with investors; and will be linked to a book-entry system. The service will be launched in the next few months. The bank says the […]
Dutch bank ING has revealed it’s working with 45 fintech start-ups on banking innovation, such as money management, payments, lending and mobile on-boarding. Ralph Hamers, CEO of ING Group, says of the 45 fintech firms, these include seven start-ups working on their proof-of-concept through the ING Fintech Village initiative in Belgium, and four through the […]
San-Francisco based RocketSpace, with the support of Royal Bank of Scotland (RBS), plans to open a campus in London, designed specifically for “high-growth” tech start-ups. The campus, located near Angel tube station, will initially hold up to 1,500 members at its opening in early 2017. Duncan Logan, RocketSpace’s founder and CEO, says: “Creating a physical […]
US payments start-up Dwolla has submitted its FiSync platform as part of its faster payments proposal to the Federal Reserve-chartered Faster Payment Task Force. The Fed-chartered initiative, comprised of over 500 Faster and Secure Payments Task Force members, has been tasked with representing, addressing, and assessing “improved” payments systems. Dwolla is offering FiSync, a communication […]
UK-based financial services vendor Perception is building a new comprehensive platform for credit unions, community development financial institutions (CDFIs), loan companies and start-up banks. The solution aims to cover loans, savings, mortgages and current account business lines, front-to-back office. Be different, make a difference Perception has identified the gap in the market that it feels […]
With news on blockchain and bitcoin appearing thick and fast, here’s a round-up of key events to save you time. The Swift Institute has published new research on the practical application of blockchain (or mutual distributed ledger) in securities markets. The paper, “The Impact and Potential of Blockchain on the Securities Transaction Lifecycle”, is based […]
