Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Mastercard gets approval to buy VocaLink for $920m Deal expected to close in coming weeks. Bank of England implicated in Libor rigging by secret recording Well, it was secret. FIS sheds Ambit Private Banking business FIS inherited it […]
The cybersecurity wars of the future will be fought by good artificial intelligence (AI) bots and bad ones, with the rest of us just watching to see who wins.
Following the announcement WhatsApp will enter into the mobile payments arena, new estimates from Juniper Research claims Apple Pay contactless users will nearly double over 2017.
White-label digital banking services provider Urban FT is joining forces with Sunrise Banks.
Fintech entrepreneurs still have a few weeks left to win financial backing from two big players in the payment space. The Center for Financial Services Innovation (CFSI) and JPMorgan Chase’s Financial Solutions Lab (FinLab) plan to award $250,000 to programs that help consumers build financial health, “with a special focus on those communities that are frequently underserved, such as older Americans, communities of color, people with disabilities and products that address the gender wealth gap.”
Financial consultancy firm DeVere Group has launched an app-only e-money service as it pushes deeper into the banking and fintech sector. As Banking Technology reported last month, the group took advantage of Lithuania’s ambitions to attract fintech firms and set up a new office in the capital Vilnius. This was preceded by the unveiling of […]
UK challenger bank Starling has unveiled its developer portal to enable third parties to access customer data and build on top of its platform using APIs. As Banking Technology previously reported, Starling launched its mobile app and is welcoming the first customers through its digital doors to join a beta testing programme. It also recently […]
Cyberattacks have been dominating newspaper headlines for some time now. Whether it’s losing access to PayPal, a distributed denial of service attack on Lloyds Group, or Tesco Bank customers losing £2.5 million to hackers, the threat of a cyberattack in 2017 is so great that it’s not a case of if, but when one occurs.
O-Bank (formerly Industrial Bank of Taiwan), is keen to transform itself into “a nimble and digitally-focused boutique lender” as it gears on for an IPO.
UBS is selling its risk and performance analytics service, UBS Delta, to StatPro Group, a provider of cloud-based portfolio analysis and asset pricing services for the global asset management industry.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Distributed ledger technology (DLT) consortium R3, together with five of its members and financial resource management specialist HQLAX have built a collateral lending solution for liquidity transfers. The solution is based on R3’s flagship platform, Corda, and is “an operating model for a digital collateral receipt (DCR) lending marketplace”.
A new report from the International Bar Association has outlined the risks and rewards of artificial intelligence (AI), which while bordering on scaremongering also makes some good points.
With the growth of “mobile working” and an increasing number of business applications migrating to the cloud, the corporate perimeter has become more porous and vulnerable, driving demand for solutions that manage access and user identities securely and efficiently. This is where identity access management (IAM) technologies come into play. ING’s Sicco Boomsma explores.
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
This is a series of posts on a subject that plays on my mind a little – the application of disruption, and innovation, when it is related through the filter of our use of language, and our desire to seem advanced.
Child & Youth Finance International (CYFI) and Mastercard have released a guide on banking and payment products for minors. The “Safer Payment Products for Minors” guide offers recommended practices on how financial service providers (FSPs) can develop age-appropriate payment products for minors; promoting responsible spending and financial decision-making. Walt Macnee, vice-chairman Mastercard, says: “Today’s minors […]
HSBC and business commerce firm Tradeshift have partnered to offer a supply chain and working capital management platform – usable from any device. The platform will let buyers automate and digitise “paper-heavy” processes from all their suppliers and organise financing in one place. This “game-changing” (sounds familiar) solution will combine electronic ordering and invoices, document […]
Finantix, a specialist provider of sales and advisory software to financial institutions, is implementing its digital suite at Rothschild Bank.
Wells Fargo will pay $110 million to settle a class action lawsuit brought by U.S. consumers over a scandal about fake accounts its employees set up for customers without their knowledge. But the trouble continues for the financial institution, which has received a dim evaluation from a federal regulator.
Oracle is exploring the feasibility of buying consultancy giant Accenture, and has hired specialists to that effect, it is understood.
Enjoy a word-lite delight with our brief fintech funding round-up. Features Clarity Money, The Glue and OOjiBO. US-based Clarity Money, a personal finance app, has announced a $11 million Series B funding round led by RRE Ventures and Citi Ventures. This financing comes three months after Clarity Money launched its product and eight months after […]
Barclays has chosen smart document management provider ClauseMatch for handling policies and standards in one place with a new online editor. London-based ClauseMatch, a 2014 graduate of the inaugural Barclays accelerator programme, will provide its editor to the bank. This tool turns a “fragmented workflow” of Word documents, PDFs and e-mails and replaces them with […]
ransaction monitoring is emerging as one of the top priorities for banks and other financial institutions. Some now employ up to three per cent of their workforce to track financial crime. But, as leadership teams look to increase the effectiveness of their processes in the face of regulatory scrutiny and reduce costs, are there lessons to be learnt from health industry and its battle against infectious diseases?
What can banks learn from the fintech community when it comes to fostering a culture of innovation against a backdrop of regulation?
It’s good to do good but it’s even better to do good and make a profit was my takeaway from a lively discussion around financial inclusion at the recent Citi Digital Money Symposium held in London.
A greenfield bank in Iraq, International Islamic Bank (IIB), has signed for the ICS Banks core banking system from ICS Financial Systems (ICSFS).
Raiffeisen Bank Romania, a subsidiary of Austria’s Raiffeisen Group, is modernising its channels delivery with Backbase.
Samsung, Smartlink and Ingenico have unveiled their “contactless companion platform” (CCP) to let people pay for things using anything they’re wearing — such as a watch or a wedding ring. It has been built with a dual interface smart card chip for multiple applications and form factors. Users tap the wearable on an NFC card […]
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.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
UK-based innovation foundation Nesta has launched its “Open Up Challenge” as it looks for services, apps and tools for SMEs. The competition is now open for entries. A £5 million prize fund is on offer and it is looking for 20 entries from anywhere in the world that will use open banking APIs – “newly […]
We hear a lot about how artificial intelligence (AI) has the potential to displace jobs, especially those held by women in tech, but should we also worry about a future overrun with sexist, racist machines?
With the EU’s Second Payment Services Directive (PSD2) and open architecture framework set to come into force next year, regulation may well tip the scales between banks and fintechs for customer loyalty, according to a new report conducted for Temenos by the Economist Intelligence Unit. In the 36-page study, “Symbiosis: Your bank has your trust. […]
Professor Michael Mainelli, executive chairman of Z/Yen Group, and Vinay Gupta, founder of venture capital firm hexayurt.capital, discuss mutual distributed ledger economics.
Banking Technology and BearingPoint are conducting a brief survey to find out the industry view on regtech and its implications for all parties involved.
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, Banking Technology deputy editor Antony Peyton doesn’t offer up one view, but the views of many. While Twitter in general may often […]
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.
Oracle has had another positive quarter as it navigates the complicated waters of business transformation, but it’s still a long way from kicking Infrastructure-as-a-Service (IaaS).
Over the holiday period I saw my 17-year-old niece Katie reading an article in an engineering magazine about the lack of women in that industry. She is considering becoming an engineer.
