Daily News at Sibos top photos and captions – Day 4
Top pics and captions from Swift’s Sibos 2016 conference in Geneva! A compilation from day 4.
Innovation
Daily News at Sibos 2016 – Day 4
Read our fourth and final Daily News at Sibos edition of the Sibos 2016 conference in Geneva – all the latest news and analysis from Swift’s premier event of the year. Free to read online or pick up a complimentary print copy if you are at Sibos!
Innotribe plots rise of new fintech hubs
A decade ago, cities fought to be financial hubs; today they fight to be financial technology (fintech) hubs. While London, New York and Silicon Valley claim strong status as fintech hubs, Sibos has proved that there are plenty of emergent centres snapping at their heels. Innotribe’s Startup Challenge, which brings fintech companies to the attention […]
Daily News at Sibos 2016 top photos and captions – Day 3
Top pics and captions from Swift’s Sibos 2016 conference in Geneva! A compilation from day 3.
CLS to develop payment netting service
CLS Group has started building a payment netting service, using existing message protocols and distributed ledger technology (DLT), which will be open to all FX market participants – not just CLS members –and will also enable CLS members to net some FX trades that are currently settled outside the CLS settlement service.
Daily News at Sibos 2016 – Day 3
Read our third Daily News at Sibos edition of the Sibos 2016 conference in Geneva – all the latest news and analysis from Swift’s premier event of the year. Free to read online or pick up a complimentary print copy if you are at Sibos!
Sibos 2016: blockchain passes stupidity test
“First they think it’s stupid, then they think it’s obvious. Blockchain has passed the first test.” These are the words of an economics professor (quoted, but not present) on revolutionary ideas, and perhaps a succinct evaluation of where blockchain is right now. In a packed conference room on the Monday afternoon (26 September), the panel discussed “Blockchain 2020 – what next for adoption by the financial industry”.
Blockchain: the theme for 2016
Blockchain and distributed technology have been hot topics at Sibos this year, with a raft of announcements from banks and fintechs alike. One of the areas identified as of most promise is trade finance – an area of banking that is rife with paper-based processes.
Sibos 2016: Innotribe Industry Challenge – results
Innotribe’s Industry Challenge – the results of which have been just unveiled – was all about blockchain and disruptive technologies. Three star-ups won the challenge to introduce blockchain to the securities sector: SmartContract, Rise and Coin Sciences.
Artificial intelligence: mind games
Artificial intelligence (AI) isn’t new but the rise of mobile and cloud computing, combined with big data and cheap computing power, is driving a resurgence. Convergent technologies mean AI is finding new uses in financial services.
Digitising the transaction banking world
In the aftermath of the financial crisis, transaction banking was considered a reliable source of income for global banking groups. But nearly a decade on, multiple factors are putting pressure on transaction banks’ revenues. This year’s World Payments Report suggests banks increase their investments in digital solutions to offer more compelling propositions to their corporate treasury clients.
Research energises the modernisation journey in Canada
Canada is one of many countries around the world striving to make payments fast, frictionless and data rich. The country’s approach to payments system modernisation is rooted in collaboration and research, with an eye to the international experience and a deep dive into the needs and capabilities of the Canadian market, including an investigation into blockchain and cryptocurrencies.
Daily News at Sibos 2016 top photos and captions – Day 2
Top pics and captions from Swift’s Sibos 2016 conference in Geneva! A compilation from day 2.
Daily News at Sibos 2016 – Day 2
Read our second Daily News at Sibos edition of the Sibos 2016 conference in Geneva – all the latest news and analysis from Swift’s premier event of the year. Free to read online or pick up a complimentary print copy if you are at Sibos!
ACI Worldwide and Vocalink team up for real-time payments push
ACI Worldwide and Vocalink have joined forces “to offer a complete end-to-end immediate payments solution to launch a domestic or regional immediate payments network”. The partnership will combine Vocalink’s Immediate Payments System (IPS) offering for central payment infrastructures and ACI’s UP Immediate Payments solution for banks and financial institutions.
Cyber challenge can be met, says Swift
Swift has committed to help its members combat the cyber threat “in challenging times”, delegates heard during yesterday’s opening plenary session. Security will be a feature every day of the conference because “the cyber threat is here to stay”, said Swift chief executive, Gottfried Leibbrandt.
When worlds collide: fintechs vs financial institutions
The opportunity for traditional banking processes to be transformed that is presented by innovative financial technology (fintech) developers is at risk of being squandered in many cases because of cultural differences between large inflexible enterprise culture and the enthusiastic approach of the start-up developer world.
The future of money: humans need to keep the robots in check
Udayan Goyal’s vision for the future of money revolves around seamless, instant micropayments being made continuously between autonomous apps and services all triggered by thoughts and actions of humans as they go about their daily lives.
Standards bodies embrace blockchain
A FinTech Technical Advisory Group has been established by the International Standards Organisation (ISO) TC68 Financial Services Committee. ISO has also just recently approved a new blockchain committee.
Banks and fintechs: the time is now to join forces
Digital innovation has the potential to radically transform the payments arena, through solutions that enhance end-to-end speed, efficiency, transparency, security and cost effectiveness. Anthony Brady, global head of business strategy and market solutions, treasury services at BNY Mellon, discusses how banks are being spurred to drive forward new technology initiatives – with collaboration at their core – to deliver an enriched global real-time payments experience to clients.
Daily News at Sibos 2016 – Day 1
Read our first Daily News at Sibos edition of the Sibos 2016 conference in Geneva – all the latest news and analysis from Swift’s premier event of the year.
New SaaS tech delivery – Form3 Financial Cloud – launched for UK banks and FIs
Start-up Form3 Financial Cloud will offer payment and core banking solutions through a Software-as-a-Service (SaaS) delivery model. These are the Dovetail payments system and a new core banking system recently launched by Thought Machine.
Interview: Martin Coen, CEO of Dovetail
Payments software vendor Dovetail is one of the very few independent fintech beacons in the industry, having not fallen into the hands of a large tech conglomerate. The company pioneered the concept of a “payment services hub” – before analysts coined the term – and has maintained double digit growth over the last decade. So what’s next? Banking Technology talks to Martin Coen, Dovetail’s CEO.
When the ground is moving, banks need to shift to a smarter platform
The tectonic plates of the banking sector are shifting faster than ever. High street banks are under stress from the massive competitive threats generated by their leaner, technology-driven fintech rivals and challenger banks. These fintech companies are finding success simply by being more efficient or by taking advantage of emerging and highly effective technologies such […]
Big banks swell Ripple’s new blockchain payments group
Ripple has created the “first” interbank group for global payments based on distributed financial technology – aka blockchain. Bank of America Merrill Lynch (BAML), Santander, UniCredit, Standard Chartered, Westpac Banking Corporation, and Royal Bank of Canada are the founding members of the network, known as the Global Payments Steering Group (GPSG). CIBC will also join […]
Webinar: Building Your Bank’s Mobile Payment Strategy
Apple Pay, Google Wallet, voice payment, payment in messaging apps, Bitcoin, merchant-led solutions, bank-owned solutions. Payment options — driven by a whirlwind of new technology and shifting consumer preferences — are changing. And banking executives are faced with sorting out if and how to respond with a mobile payment strategy that aligns to their banks […]
NAB completes successful international money transfer using blockchain
National Australia Bank (NAB) says it has successfully transferred AU$10 ($7.6) – using Ripple’s blockchain tech – from Australia to Canada. It took ten seconds to process.
Does the bank branch still matter?
The number of branches operated by major banking groups in the UK has halved over the last 20 years. In fact, Britain’s banks closed more than 600 branches across the UK between April 2015 and April 2016. This is hardly surprising as more and more people move online, often mobile-first, to complete most of their […]
Technology is galloping ahead. Time for IT to play catch up.
The technology era has come with its new aesthetic, economic models and philosophy about the meaning of value. It is not going away. And the people who thought economics was theirs to define and aesthetic and values were “hobbies” have a lot of catching up to do. That catching up is your hottest technology trend of 2017.
Misys unveils Platform-as-a-Service strategy, opens up core platforms for third parties
Following the launch of Misys’ applications in the cloud – FinCloud – earlier this year, the banking software vendor has unveiled its new Platform-as-a-Service (PaaS) strategy, FusionFabric.cloud. It will be commercially available next year.
Deutsche Bank has an Axel Springer in its step for start-ups
Deutsche Bank is partnering with start-up accelerator Axel Springer Plug and Play to select, develop and finance up-and-coming firms from sectors such as banking and insurance. Deutsche Bank will be an exclusive Axel Springer Plug and Play partner – the latter a joint venture between the media company Axel Springer and California-based Plug and Play […]
Six more in the mix for Ripple’s payments network
Standard Chartered, National Australia Bank, Mizuho Financial Group, BMO Financial Group, Siam Commercial Bank and Shanghai Huarui Bank are the latest banks to join Ripple’s blockchain-powered network for cross-border payments. “2016 has proven to be the year where the most forward-thinking financial institutions are actually using blockchain technologies for payments and settlement rather than as […]
Artificial intelligence set to transform regulatory compliance
Most people have heard of the headline-making achievements in artificial intelligence (AI); systems winning quiz shows and beating world champions in chess. These are the poster children of the discipline but there is a quieter revolution taking in shape in other areas, including regulatory compliance in financial services. Writing for Banking Technology, Mike MacDonagh, London-based […]
Bank of England to overhaul RTGS service, issues consultation paper
The Bank of England (BoE) has published a consultation paper on the next generation real-time gross settlement (RTGS) service. On the way out is the bank’s legacy 20-year old platform. The BoE is calling on the payments industry specialists to get in touch.
Opening up may be good for you: making PSD II access to accounts work in practice
A new open ecosystem – where banks can enable third parties to develop mobile banking apps and cash management solutions for them – has many advantages over the previous closed world, where everybody tried to do everything themselves. The key to successful “opening up” is to provide a standard interface, such as a smart phone to a bank account, that is accessible to third parties whilst retaining the necessary control.
Banking Technology Awards tech leaders, teams and Woman In Technology shortlists unveiled
Having gone through an unprecedented number of high-quality entries for our Tech Leadership and IT Team of the Year Awards, and for our newly-launched Woman In Technology (W.I.T.) Award, we are pleased to unveil the shortlists.
Top fintech stories this week – 16 September 2016
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
M&A round-up: 15 September 2016
Welcome to the world of mergers and acquisitions – and our mission to provide a quick round-up. Ant Financial, Alibaba’s payments arm, has bought Missouri-based EyeVerify, a biometric security technology company. The big deal here is that its tech is used by Wells Fargo – and regional banks and credit unions in the US. Also, […]
UBS goes for AI face off
UBS is testing out artificial intelligence (AI) to see if it can assist clients in how best to invest their money – just by looking at their facial expressions. UBS chief investment officer Mark Haefele says the Swiss bank is running several pilot programmes – with one tool able to interpret clients’ facial expressions while […]
Finovate: innovation, collaboration and ten-year anniversary
Finovate – now ten years old (or young) – has celebrated its anniversary with over 1,600 attendees at its New York show. Banking Technology was a media partner, and FinTech Futures Series, Banking Technology’s sister company, took part in the event.
