How future technologies are transforming banking
How two key technologies – cloud and cognitive – can aid banking transformation.
Innovation
White paper: beyond data grids – the advantages of in-memory platforms
With the cost of system memory dropping 30% every 12 months, in-memory computing has become the first choice for a variety of workloads within the financial services industry. In-memory computing can provide a lower TCO for data processing systems while providing an unparalleled performance advantage.
Budget boosts Australia’s fintech
Good days and good times have come to Australia’s fintech scene with the 2017-18 Australian budget bringing in some useful initiatives. Some of the positives include open financial data reforms, reduced barriers for banking licences, an expanded regulatory sandbox and digital currency tax cuts – all welcomed by Fintech Australia, a national industry association. Australian […]
Will augmented reality transform banking?
There has been a lot of rumour and speculation recently, focused around the news that Apple is working on augmented reality (AR) as its next major product. Last year, we saw how fast the take up of AR could be with the introduction of Pokémon Go that became a massive international cultural phenomenon almost overnight. Banks need to prepare sooner rather than later if they are going to take advantage of AR and not be left behind.
A spreadsheet way of thinking: why the future of financial services still lies in rows and columns
Spreadsheets, say some, should just fade away into the dustbin of innovations’ past, but in my opinion, they might be the best bridge between the “old way” of working and the new.
OpenFin tech for capital markets goes open source
New York-based OpenFin has open sourced its core technology and is giving application developers free access to its operating layer for financial desktop web applications via its OpenFin Community Edition. The firm, which is a provider of HTML5 runtime technology, says the open source project, called Hadouken, will run under an Apache 2.0 licence. It […]
Banking Technology May 2017 issue out now
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
Blockchain and Bitcoin round-up: 3 May 2017
No need to pace yourself. Here’s a quick blockchain and Bitcoin round-up. Featuring Infosys Finacle, Commercial Bank of Qatar, Adel and Blockpool. Infosys Finacle and the Commercial Bank of Qatar have completed a pilot on the “first ever” cloud-based blockchain network to process international remittances. The bank, along with its subsidiary Alternatifbank (ABank) in Turkey, […]
Lessons learnt on a start-up journey
I grew up in Darwin, northern Australia and dreamt of playing hockey for my country. Today I live in Glasgow, thousands of miles away from the sunny climes of home and head up the UK operations and marketing for regtech firm Encompass.
Podcast: five steps to reinventing insurance
In the latest InsurTech Bytes – the podcast for the future of insurance by FinTech Futures – we learn from one of the best disruption duos in insurance: Trov and Anthemis Group.
Cash cloud – AWS, Google and Azure are smashing it
Amazon Web Services (AWS), Google and Microsoft Azure have all reported healthy growth figures, with artificial intelligence (AI) forming the central role in the future of the platforms, reports Telecoms.com (Banking Technology‘s sister publication). Current market leader AWS has demonstrated another quarter of exceptional growth, though it is slowing ever so slightly. Let’s be clear, […]
Payments start-ups PayKey and Blue Code win Temenos innovation final
Israeli payments start-up PayKey was voted as Temenos’ Innovation Jam winner by the attendees of the 2017 Temenos Community Forum in Lisbon. Another payments start-up, Austria-based Blue Code, was crowned the winner of the Judges Awards (the judges panel consisted of three Temenos’ senior execs, two representatives from banks and a consultancy). The prize is […]
Blockchain and Bitcoin round-up: 28 April 2017
Quick steps to quick news. Hot on the heels of Wednesday’s (26 April) blockchain and Bitcoin round-up, here’s another one. Featuring Emercoin, IHS Markit, Santiment and Coinsource. “We have crossed the Rubicon, getting rid of the last instruments which affect the health of the Emercoin network. Whether this was the right step or a mistake […]
JP Morgan Chase exits R3 blockchain consortium
JP Morgan Chase has finally bid farewell to the R3 blockchain consortium as it pursues its own interests. As Banking Technology reported in November, JP Morgan was understood to be in the “leave” camp as it opted out of a fundraising effort for R3. R3 had initially planned to raise $200 million from its members […]
Temenos MarketPlace gets boost with new services and leadership
Temenos has launched open banking and Payment Services Directive (PSD2) targeted services on its MarketPlace. The aim, says the vendor, is “to facilitate the exchange of value between banks and fintech companies”. MarketPlace is “customer driven”, says Ben Robinson, group chief strategy director of Temenos – i.e. the vendor proactively seeks out solutions that customers […]
How Fintech Startups Are Transforming Retail Banking and Finance
Sure, convenience remains vital. But to reach digitally savvy consumers—including millennials—new entrants in the payments arena will need to think socially, and be ready to chat.
Ripple’s blockchain network going places with ten new faces
Ten more financial institutions have jumped onboard Ripple’s blockchain network for cross-border payments. The new faces are MUFG, BBVA, SEB, Akbank, Axis Bank, YES Bank, SBI Remit, Cambridge Global Payments, Star One Credit Union and eZforex.com – representing a mix of banks and payment service providers (PSPs). “The world’s largest banks have been the first […]
The future of insurance is collaboration
To the outside observer the insurance industry may look very conservative with dominant global companies and local players operating in the way they have done for years and with very little interaction with their customers. But this is changing.
Paybefore Reveals 2017 Pay Awards Winners
Paybefore announced the winners for the 2017 Pay Awards—the most prestigious recognition of excellence in the global prepaid and payments technology industry. Our expert judging panels have made their decisions. Now you can weigh in and help your favorites win the coveted Best-in-Category designation and a spot in the Pay Magazine – Awards Issue.
Blockchain and Bitcoin round-up: 26 April 2017
Here’s something brief to avoid wasting precious minutes on pernicious waffle. A blockchain and Bitcoin round-up, featuring Populous, Humaniq, BOScoin and the Winklevoss twins. In the UK, blockchain invoice and trade finance platform Populous will launch its initial coin offering (ICO) on 16 July. It is an Ethereum-based platform and uses smart contracts, XBRL data […]
Executive profile: one on one with Joan Herman, Sunrise Banks
She witnessed the rise of electronic transactions and worked on the first shared ATM network card. Now this self-proclaimed pioneer woman has her sights set on prepaid and a mobile future.
Pay Magazine – Spring 2017
Paybefore’s Pay Magazine Spring 2017 issue out now.
Oracle shells out a Moat load of cash for online ad auditor
Oracle has continued its quest to buy its way into the cloud game with the acquisition of ad tracking company Moat for a reported $850 million.
Fintech funding round-up: 24 April 2017
The latest fintech funding round-up featuring Token, Ongo, National Bank of Canada (NBC) and a bunch of venture capitalist firms.
Innovation spotlight: North American FIs going social
As banking continues to go digital, online innovators and niche players in North America are getting personal by adding social activities to their customer services.
Banking Technology Awards 2017 – date announced!
Save the date! 18th Annual Banking Technology Awards will take place on 6 December 2017 at the elegant Millennium Hotel London Mayfair. Visit our newly updated awards website for more info.
Thumbs up for Mastercard’s new biometric card
Mastercard has launched its latest biometric card, combining chip technology with fingerprints to verify the cardholder’s identity for in-store purchases. South Africa is the first market to test the evolved technology, with two separate trails recently concluded with Pick n Pay, a supermarket retailer, and Absa Bank, a subsidiary of Barclays Africa. According to Mastercard, […]
Nasdaq goes on attack with fintech investment programme
Nasdaq has unveiled its venture investment programme, Nasdaq Ventures, as it seeks out new fintech firms to work with in the global capital markets. Adena Friedman, president and CEO, Nasdaq, says it plans to “accelerate the pace of innovation”. The minority stake investments made by Nasdaq Ventures are expected to range from less than $1 […]
Fund times with BNP Paribas blockchain-powered platform
BNP Paribas Securities Services is partnering with AXA Investment Managers for the creation of a new digital fund distribution platform. Called BNP Paribas Fund Link, it aims to make the fund distribution process better by improving the flow of information between fund buyers and sellers via blockchain and smart contract technology. Jean Devambez, head of […]
Co-bots, not robots: the next big step for AI in insurance
Many have proclaimed that 2017 will be “the year of artificial intelligence (AI)”, with a 300% increase in investment in its technologies predicted compared with 2016. Start-ups with AI at the core of their business in particular will be looking to benefit from this surge in investment capital, as they did last year when 550 raised $5 billion in funding.
Chart: fintech investment in 2016
Fintech investment fell in 2016 for the first time. On the bright side? Banks are becoming much more active in the space, putting money in 61% more start-ups.
Top fintech stories this week – 14 April 2017
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 […]
R3 and Acord launch DLT-ful insurtech centre
Consortium R3 has partnered with Acord (Association for Cooperative Operations Research and Development) to launch a virtual “centre of excellence” for distributed ledger technology (DLT) in the insurance industry. R3 counts a number of insurance companies amongst its member base, including MetLife, AIA and Suncorp Group, as well as other financial services members that have […]
Contactless payments ramp up in 2017
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.
UK regulator plays sheriff to fight “Wild West” sandboxes
As fintech regulators across the world begin to set up their own sandboxes, with different models and standards, the UK’s Financial Conduct Authority says a “Wild West” version could emerge. But hang on folks, we got a new sheriff in town. Speaking at the Innovate Finance Global Summit in London, Christopher Woolard, executive director of […]
Mastercard AIs up future with start-ups
Mastercard has welcomed five new start-ups to its Start Path Global programme – its initiative to boost its share of the commerce market. The programme is open to all start-ups who focus on banking and payments and have raised a “significant seed” or Series A round of investment. Three out of the five firms joining […]
Starling Bank developer portal goes live
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 […]
O-Bank goes digital in preparation for IPO
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.
Top fintech stories this week – 7 April 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
R3, HQLAX and five banks build collateral lending solution on blockchain
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”.
