The Monday mindset: 14 August 2017
Fintech zeitgeist! This week, Banking Technology’s editor Tanya Andreasyan muses about the growing trend of celebrity endorsement in the fintech world.
Banking
Interview: Matteo Cassina, Saxo Bank – is digital banking the new Big Brother?
Amid the hustle and bustle of MoneyConf in Madrid, Banking Technology managed to grab a coffee with Matteo Cassina, global head of sales at Saxo Bank. Conversation turned from the demise of bank branches to the rise artificial intelligence (AI) and open banking.
Infographic: how serialised blockchain will revolutionise supply chain
This infographic, courtesy of Savi Technology, explains how blockchain links offer immutable, trackable parcels of data that can include “smart contracts”, instructions such as other transactions that will be triggered to perform automatically later.
Regtech Supplier Performance Report: ignorance is no longer bliss, it’s now criminal offence
The second edition of Regtech Supplier Performance Report, featuring some 50 regtech suppliers, published by Market Fintech Limited and supported by Banking Technology, says that with over 50,000 regulatory documents published across the G20 since 2009, and an average of 45 new documents every week, we must assume that the future of banking will be driven by technological developments.
Top fintech stories this week – 11 August 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
BioCatch partners with LexisNexis to leverage data and analytics for better risk management
Behavioural authentication and threat detection company BioCatch teamed up with risk management company LexisNexis Risk Solutions in an effort to reduce losses caused by fraud.
Ben Jackson Joins NBPCA as COO
Ben Jackson, who previously led Mercator Advisory Group’s prepaid advisory service, has joined the Network Branded Prepaid Card Association as chief operating officer.
Socure raises $14m in new funding
In a Series B round led by Commerce Ventures, digital identity verification specialist Socure raised $13.9 million in new funding. The investment, which also featured the participation of Flint Capital, Santander InnoVentures, Synchrony Financial, Two Sigma Ventures, and Workbench, takes Socure’s total funding to $27.5 million.
HSBC digitises global trade with IBM
HSBC and IBM are working on a project “to develop a cognitive intelligence solution combining optical character recognition with advanced robotics to make global trade safer and more efficient”.
Oracle unveils new global payments solution for banks, Oracle Banking Payments
Oracle has unveiled its brand new development, Oracle Banking Payments. The product has been built from the ground up, leverages ISO 20022 and supports global and local payment standards (SEPA, Swift 2017, Fedwire, US ACH and Swift’s gpi).
R3, CGI and eleven banks develop blockchain-based trade finance app
Following a year of development and testing, R3, CGI and eleven banks unveil a prototype of a trade finance app built of R3’s Corda distributed ledger technology (DLT).
Brief: How to accelerate compliance reporting with data wrangling
Join the world’s largest banks and cut compliance reporting budgets up to 60%. In this brief, Trifacta takes a closer look at how financial services companies are leveraging data wrangling to accelerate their regulatory reporting.
Banking Technology Awards: how to write a winning entry?
With less than one month left to nominate for the Banking Technology Awards, now is the time to polish up on your entry. The question we get asked often is how to write a winning entry. Well wonder no more, we have a few tips for you on what to include. The more detail the better! Dates […]
CFPB Overdraft Disclosure Protoypes Could Foreshadow Regs
The CFPB has released a new overdraft study, along with four prototypes of “Know Before You Owe” disclosures, which the bureau is testing, possibly ahead of regulating checking account overdrafts.
Getting to experience thinking
“We’ve got a great idea we think you’re going to love.” Despite its manifest flaws, this is the approach that has long dominated the development of new products and services. While introducing products that people love is an exemplary goal, real omniscience has proven to be distressingly rare.
Podcast: Amazon is everywhere
11:FS Fintech Insider podcast featuring FinTech Futures’ Tanya Andreasyan.
Banking Technology Awards: celebrating people that make things happen
This year’s Banking Technology Awards will be taking place on 13 December in London and once again we will be celebrating people that make things happen! The Leadership Awards will recognise individuals and teams that made a considerable contribution to our industry. What are the categories you can nominate in? Woman in Technology (W.I.T.) Award, in partnership with FemTechGlobal, will […]
Ripple unveils expanded suite of offerings
What’s in a name? Blockchain solutions company Ripple is about to find out. The company has unveiled a new name for its existing global payments network, as well as a handful of new solutions.
Blockchain and Bitcoin round-up: 1 August 2017
The world of blockchain and Bitcoin rumbles on with patents, platforms and positives. Our latest round-up features Bank of America, Blackmoon Financial Group, and research from Cognizant. Bank of America (BofA) has filed three new patents using blockchain. On the US Patent & Trademark Office’s website it now reveals the details. Some of the patents […]
New in regtech: digital ID verification
It’s no secret that increased regulations are a significant pain point for commercial and community banks. According to Thomson Reuters Global Cost of Compliance 2016 Survey, more than one-third of participating financial institutions reported spending at least an entire day each week keeping track of regulatory changes. The good news? Regtech, or regulatory technology, is […]
Kakao Bank attracts 820,000+ clients in four days since launch
Kakao Bank, one of South Korea’s first digital only banks, says it has attracted KRW 535 billion ($477 million) worth of business in deposits and loans in just four days since its launch.
Fintech earnings round-up: 31 July 2017
Several major payments companies have released Q2 earnings, including The Bancorp, Discover, Mastercard and PayPal. Overall, payments volume is on the rise and partnerships are proving particularly important for PayPal, which has been on tear with recent strategic announcements.
Earnings: Q2 Results for The Bancorp, Discover, Mastercard, PayPal
Several major payments companies released second-quarter earnings this week, including The Bancorp, Discover, Mastercard and PayPal. Overall, payments volume is on the rise and partnerships are proving particularly important for PayPal, which has been on tear with recent strategic announcements.
AI in Financial Services: be a part of the hottest topic in tech world
Banking Technology is producing the AI in Financial Services supplement for the AI Summit in San Francisco.
The Bancorp Strengthens Operations, Risk Management with New Leadership Team
The Bancorp Inc. has created a new senior-level team, it says, will strengthen its operations and risk management functions by developing a more productive and efficient operating environment.
Digital currency: the future or the biggest flop?
From Bitcoins to even newer (and lesser known, but rising) forms of currency, will this level the playing field for people in the future, or is this all just a sham that will die down? As things get digitised, what do we need to know about digital currencies, and does this mark the demise of traditional forms of currencies?
Open letter to EU decision makers on PSD2 RTS – figo
This open letter from German fintech figo is not about the usual pros and cons of this debate, but intends to provide the European Council with actual solutions, i.e. smart trade-off ideas that could mean an end to the everlasting screen scraping debate and eventually the RTS process.
Varo Money applies for US banking charter
Varo Money is looking to become a true challenger bank, complete with a national bank charter.
Layer’s new messaging design system gets conversational
FinovateSpring 2017 alumnus Layer has released a new customer engagement-enabling solution as the latest reminder of a trend toward more and better engagement options for businesses, reports Finovate (Banking Technology’s sister company). The San Francisco-based company has launched its Conversation Design System, giving enterprises new tools to build and customise conversational experiences for their customers “in […]
Banking tech consultant and integrator Sofgen to be absorbed into Tech Mahindra
Sofgen, a Switzerland-based IT consultant and integrator in the financial services and banking space, is undergoing major organisational restructuring. As a result, it will be completely absorbed into its parent, Tech Mahindra, Banking Technology understands.
Bold statement four: statements from around the bleeding edge of innovation
Welcome back to these pages – and the almost final installation of a series that was started some months ago, talking about some of the grand sweeping statements that we hear, and make.
Banking Technology and FemTechGlobal looking for inspiring women in fintech
Do you know any special women in technology who have made a huge contribution to fintech? Then we want to know! Banking Technology and FemTechGlobal, a global diversity and inclusion organisation, are again on the look-out for all amazing women who deserve the Woman In Technology (W.I.T.) Award, part of Banking Technology’s 2017 annual Awards show. […]
The Monday mindset: 24 July 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, Claire Calmejane, director of innovation at Lloyds Banking Group, presents “Digital Zero to Hero: Myth Debunking”. (This is part of a series […]
Belarus’ central bank builds blockchain-based information network
National Bank of the Republic of Belarus, the country’s central bank, says it has created an information network based on blockchain technology, “which may be used to tackle a wide range of modern and promising banking and non-banking tasks”.
Temenos powers on with revenue rise
Banking software vendor Temenos is retaining momentum with software licensing revenues rising yet again. In its Q2 2017 results, it reported total software licensing revenues of 22% year-on-year. For the previous quarter, these figures stood at a respectable 19%. The Q1 results were notable as Temenos CEO David Arnott (answering a question from an analyst) […]
Top fintech stories this week – 21 July 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Lessons from the GDPR compliance journey of a large financial services organisation
In preparation for GDPR compliance, a global financial services organisation embarked on a journey to assess its core information processing environments with the objective of identifying opportunities to strengthen its privacy data protection programs. This article focuses on the technology challenges, approach, and lessons learned for the centralised testing environment.
Nesta names 20 fintechs fired up for £5m SME innovation fund
UK-based innovation foundation Nesta has revealed the 20 fintech firms who will participate in its Open Up Challenge as it looks for services, apps and tools for SMEs – with a £5 million prize fund on offer. As reported in March, Nesta launched its challenge – open to entries from anywhere in the world that […]
M-Wallet Roundup: Apple Pay, ANZ, CaixaBank, Starling, Samsung
It’s been a busy week for mobile wallet partnerships. Several companies announced deals to offer mobile wallets to their customers in the U.K., Australia and Europe. Challenger bank Starling says it’s the first in the U.K. to offer in-app provisioning.
Fintech funding round-up: 18 July 2017
You’ve come to the right section for cash injection. Today’s fintech funding round-up features Contego, Privitar, Form3 and Barclays. Maven Capital Partners, a UK private equity house, has led the £3.5 million investment in Contego Fraud Solutions to support its growth plans. Maven is putting in £1.8 million, NVM Private Equity is investing £1.5 million, […]
