Top fintech stories this week – 17 March 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Innovation
Inter-American Development Bank launches Finconecta ecosystem
Inter-American Development Bank (IDB) and Florida-based fintech firm Above & Beyond (A&B) have unveiled “Finconecta”, a ten-month programme which integrates fintechs and financial institutions (FI) in an interconnected ecosystem. The technology platform behind it is called “Forward”, which was built by A&B, and is described as an app store-styled marketplace that allows firms to expose […]
Under Renewed Fire, the OCC Moves Forward with its Fintech Charter Plan
The Office of the Comptroller of the Currency is moving forward with its plan to enable fintech companies to become special purpose national banks (SPNBs), releasing a licensing manual draft supplement which provides guidance on how the OCC “will apply the licensing standards and requirements in its existing regulations and policies to fintech companies applying for [SPNB] charters“ and another document that summarizes public comments about the plan to allow SPNBs for fintech companies. The special purpose charter has no shortage of critics, but perhaps the most vocal—New York State—has turned up the dial on its opposition.
Consumers Are Open to Payment Innovation, But First Improve Existing Tools
Retail transactions promise to become more vocal and mobile in 2017, according to a new U.K. survey report. Even so, the mainstreaming of chat bots and other new tools appears a while off, given the relatively low level of awareness enjoyed by those innovative technologies.
BBVA launches fintech challenge for start-ups
BBVA has launched the ninth edition of its “Open Talent” fintech competition – and is looking for start-ups from across the globe. The Spanish bank says this year its programme has grown from one competition to five. It will be hosting three focused world-wide competitions, more than a dozen country-specific opportunities, two specialist challenges for […]
Bank Yahav live with TCS Bancs core banking platform: “the world’s most complex IT project”
Israel-based Bank Yahav has gone live with a new core banking platform, Bancs, supplied by TCS Financial Solutions. The “pure Java-based” solution is provided on a hosted basis.
Alexander Graham Bell’s influence on tech innovations in today’s financial services
“Mr. Watson, come here, I want to see you.” These were the first words ever spoken over a telephone line and said by the man fondly described as the father of the telephone, Alexander Graham Bell, who would have turned 170 on 3 March this year.
The Monday mindset: 13 March 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 we welcome the views of our editor, Tanya Andreasyan, as she gives us the lowdown on going digital.
Top fintech stories this week – 10 March 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
New global fintech group for standardisation launches
The International Standards Organisation (ISO) Financial Services Committee (TC/68) has unveiled its new global committee, the Fintech Technical Advisory Group (TAG), to act as a sounding board for data and technology standards. The group’s goal is to establish a “proactive dialogue” with financial institutions, their regulators, and supply chain and fintech firm. TAG’s objectives are […]
Misys goes gaming for banking tech
Misys is introducing gamification capabilities into its FusionBanking Essence Digital platform with Moroku’s GameSystem (also known as Gameo).
Will 2017 be the year financial services improve their UX?
2016 has been a big year for user experience (UX). The web, as a whole, became easier to use, apps became more intuitive, and services became a lot more engaging and purposeful. But could the same be said for financial services? Perhaps…
Hellenic Bank to launch open APIs
Cyprus-based Hellenic Bank is readying the first project by its recently unveiled innovation lab – open application programming interfaces (APIs).
Scotiabank completes blockchain trial with Alphapoint
Alphapoint, a San Francisco-based financial services infrastructure firm, has completed a blockchain proof-of-technology trial for Scotiabank, leveraging its Alphapoint Distributed Ledger Platform.
Top fintech stories this week – 3 March 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Fintech funding round-up: 3 March 2017
Fintech funding without the tub-thumping. A realistic and brief round-up of key events. Featuring WhenFresh, Euronext, Algomi and Sensibill.
Race to patent Bitcoin tech heats up
The man who claimed to be Satoshi Nakamoto, the creator of Bitcoin, is now working on filing patents for the currency, according to Reuters. In a lengthy investigative report, Reuters says Craig Wright is “working with a fugitive online gambling entrepreneur to file scores of patents relating to the digital currency and its underlying technology, […]
Japan edges towards blockchain commercialisation
SBI Ripple Asia and the Japan Bank Consortium have “successfully” completed a pilot implementation of RC Cloud, Ripple’s unified blockchain platform for domestic and cross-border payments. As Banking Technology reported last year, the consortium (full name “The Japan Bank Consortium to Centrally Provide Domestic and Cross-border Payments”) officially launched with 42 member banks. As of […]
Culture in investment banks is a ticking time bomb for employers
Recently I have been recruiting for a senior analyst position. We have reviewed over 40 CVs for a senior analyst position, and only two have been from women.
Ex-R3 members behind new blockchain alliance
Banco Santander, BNY Mellon, Intel, JP Morgan and Microsoft are some of the big names behind the launch of a new blockchain alliance. Called the Enterprise Ethereum Alliance (EEA), it plans to drive Ethereum blockchain technology best practices – “focusing on security, privacy, scalability and interoperability”. This development creates another rival for the R3 blockchain […]
Survey smiles on worldwide payment schemes
Developing new services, adopting the latest technologies and collaboration are the top priorities among payment schemes worldwide, according to a new study.
Baloise to invest $50m in insurance and risk management tech start-ups
Switzerland-based insurance provider Baloise Group has forged an investment partnership with Anthemis Group, a digital financial services investment and advisory firm. Together, they will curate European and American tech start-ups developing insurance (insurtech) and risk management solutions, with a mandate is to invest CHF 50 million ($50 million).
DTCC steps up DLT trial for repo transactions
The Depository Trust and Clearing Corporation (DTCC) announced that the proof-of-concept to improve the netting process for repo transactions using distributed ledger technology (DLT) has been successfully completed.
Bank for International Settlements issues analytical framework on DLT
The committee on payments and market infrastructures at the Bank for International Settlements (BIS), an international financial institution owned by central banks, has issued an analytical framework on distributed ledger technology (DLT) in payment, clearing and settlement.
Mobile: the banking industry’s biggest ultimatum
An app is no longer a “nice to have”. As consumers expect businesses to engage with them at the right time, in the right manner, and over the right channel, a bank’s mobile app will be a crucial first point of contact for many customers. But it’s important to remember that an app by itself is not some wonder-cure that will instantly give a financial organisation perfectly satisfied customers.
Santander employs IBM for employee digital boost
IBM’s MobileFirst for iOS apps will be used by Santander as the bank looks to revamp its digital banking services and help its employees work better. The custom-built, native apps made for iOS will be rolled out across more than 11,000 iOS devices, and will be used by Santander’s commercial network employees, including those supporting […]
Top fintech stories this week – 24 February 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! IBM and Northern Trust debut blockchain for private equity Uses the Hyperledger Fabric. Visa opens new innovation centre in London It’s the latest and largest one. Digital gets a spurt with Natwest and RBS experts Every branch gets […]
Need for human connection in digital banking
Technology may rule the world, but human connection is still king.
How to make a success out of blockchain
There is pressure for CEOs to decide how distributed ledger technology (DLT) fits into their business strategy. Regulators also recognise that blockchain could advance their own processes. So what is all the excitement about? Blockchain is an exciting innovation but the technology has flaws…
White paper: data science for banking and insurance
The disruptive threat is real, but the battle is not lost. Download this white paper for practical advice on surviving and thriving in the era of internet giants and fintech start-ups.
Top fintech stories this week – 17 February 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Mobile payments in the age of the customer
The mobile payment market is getting more congested every day. For banks, it’s the most frequent touchpoint – one that can help (re) establish everyday relevance and drive engagement. How can banks develop their strategy and prioritise the capabilities that will help them remain valuable to their customers?
IBM in major IoT drive with new partners
IBM has unveiled a large ecosystem initiative as it opens the doors of its new $200 million global headquarters for its Watson Internet of Things (IoT) business in Munich, Germany. BNP Paribas, Capgemini and Tech Mahindra are some of the firms who will place development teams at the IBM centre. Harriet Green, general manager, IBM […]
Swift’s global payments innovation initiative now live
Major global transaction banks are now live with Swift’s global payments innovation (gpi) initiative.
Fintech accelerator round-up: 14 February 2017
You can read about fintech accelerators quickly with our latest round-up. Featuring RBS, BNP Paribas, Ben Franklin Technology Partners and the info on how to apply. Scotland has got its “first” fintech accelerator with the launch set for May. The new hub will be based in Royal Bank of Scotland’s (RBS) Entrepreneurial Spark business centre […]
Hellenic Bank unveils innovation lab
Hellenic Bank has opened an innovation lab in its home city of Nicosia, Cyprus.
Blockchain and Bitcoin round-up: 13 February 2017
Being quick does the trick. A round-up of key blockchain and Bitcoin events. Berlin-based blockchain start-up, Bit Trust Services, has opened its Bitcoin-Bank in Vienna, Austria. The bank’s ATMs exchange Bitcoin for euro, and vice versa. Vienna is no stranger to the virtual currency as three years ago it got its first bitcoin ATM and […]
FinovateEurope 2017: designing good finance
Last week’s FinovateEurope was full of the broad range of exciting and innovative companies that we have come to expect at the show. Although the 72 companies showcasing their solutions operated right across the fintech landscape, they all sing from a common hymn sheet of improving the customer experience.
Trade finance and blockchain: the right time
Financial institutions and technology companies have tinkered with trade finance for years, but progress has been slow. Despite automation advances in many areas of financial services, trade finance remains a largely paper-based, manual process. But it could be one area where blockchain technology will be successfully applied.
Top fintech stories this week – 10 February 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Temenos cuts jobs in US; eyes D+H payments business EXCLUSIVE. US layoffs cited as around 60 by some sources. Ziraat Bank London to replace legacy core banking tech EXCLUSIVE. Misys Fusionbanking moves in. Banks and UN launch sustainable […]
