Innovation

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Regulatory innovation advances in the face of Covid-19

/regulation

Regulatory innovation advances in the face of Covid-19

While Covid-19 may have wreaked havoc across financial services, according to a recent report the pandemic has driven the urgency to prioritise and actively deploy fintech initiatives by regulators.

ABN Amro tops up fintech venture fund

/startups

ABN Amro tops up fintech venture fund

ABN Amro is turbo-charging its fintech investment strategy, injecting a further €50 million into its €100 million corporate venture fund.

Establishing and defining climate fintech as an industry in its own right

/sustainable

Establishing and defining climate fintech as an industry in its own right

A lot has changed since the fintech boom of the 2010s and the subsequent genesis of innovation, new business models, new user experiences and the formation of new companies. Richard Peers, founder of Responsible Risk and contributing editor at Finextra Research speaks to Aaron McCreary, climate fintech lead at New Energy Nexus about how a similar wave will sweep through the sustainable finance space in 2021.

Shifting to mission-critical: What are the key drivers of cloud adoption?

/cloud

Shifting to mission-critical: What are the key drivers of cloud adoption?

Cloud adoption for financial services firms has been on the rise over the past few years - a trend that has been further bolstered by the wave of digitisation brought on by the global pandemic.

ING innovation chief Legrand quits

/people

ING innovation chief Legrand quits

ING chief innovation officer and CEO of ING Ventures, Benoît Legrand is to quit the Dutch lender in March next year after being sidelined in a recent shakeup of the bank's innovation unit.

Using fintech to bypass incremental innovation

/startups

Using fintech to bypass incremental innovation

Vinod Khosla, founder of Khosla Ventures shared the virtual stage with Jillian Manus, managing partner of Structure Capital at Singapore Fintech Week 2020 for an optimistic outlook on all that is possible with technology.

Sustainable Finance Live: Building actionable ESGtech strategies with a partnership ecosystem

/sustainable

Sustainable Finance Live: Building actionable ESGtech strategies with a partnership ecosystem

Finextra Research and Responsible Risk hosted Sustainable Finance Live this week, the third workshop in a series of events encouraging collaboration in the ESGtech space.

Kenya central bank governor: ‘Regulators should be the most innovative people of all’

/inclusion

Kenya central bank governor: ‘Regulators should be the most innovative people of all’

In a virtual fireside discussion during Singapore Fintech Festival 2020, Patrick Njoroge, Governor of the Central Bank of Kenya argued that regulators must use their convening power to bring people and innovators together, this would change the dynamic between innovators and the regulators themselves to improve the journey toward digital transformation.

Northern Trust and StanChart partner for crypto custody service

/crypto

Northern Trust and StanChart partner for crypto custody service

Asset servicer Northern Trust and Standard Chartered have sought to capitalise on the growing demand for cryptocurrency services by jointly developing a digital custody service aimed at institutional investors.

Dr Ruth Wandhöfer to chair PSR panel through Covid-19 recovery, Brexit and BoE RTGS renewal

/people

Dr Ruth Wandhöfer to chair PSR panel through Covid-19 recovery, Brexit and BoE RTGS renewal

Dr Ruth Wandhöfer has been appointed chair of the Payment Systems Regulator (PSR) panel amid the regulator’s increased relevance as a policy strategist between a diverse group of banks, payment service providers, fintech firms and consumer groups as a result of the coronavirus pandemic.

UBS CEO: Innovation is not 2020’s trend, it's here to stay

/security

UBS CEO: Innovation is not 2020’s trend, it's here to stay

Speaking at Singapore Fintech Festival, UBS CEO Ralph Hamers makes the case that while innovation and collaboration have not traditionally been the norm for financial institutions, the need to build symbiotic relationships with fintech is essential, particularly in the context of cybersecurity in a post-Covid-19, highly digitised world.

David Marcus: Facebook deserves the benefit of the doubt

/crypto

David Marcus: Facebook deserves the benefit of the doubt

David Marcus, the head of Facebook Financial, believes that the social media company has earned the benefit of the doubt for the way it has developed engaged with the concerns of regulators and governments in the development of the Libra project.

Payments have become tech arms race say banks

/payments

Payments have become tech arms race say banks

The vast majority of banks (94%) believe that the Covid-19 pandemic has turned the payments market into a technology arms race for which they are unprepared.

Google and Alphabet CEO Sundar Pichai: ‘Online has been a lifeline in Southeast Asia’

/inclusion

Google and Alphabet CEO Sundar Pichai: ‘Online has been a lifeline in Southeast Asia’

Speaking at Singapore Fintech Festival 2020, CEO of Alphabet Inc and its subsidiary Google Sundar Pichai highlights that “online has been a lifeline in Southeast Asia” and eight out of 10 people have revealed that “technology helped them navigate the pandemic.”

Visa Apac accelerator programme invites fintechs to join inaugural cohort

/payments

Visa Apac accelerator programme invites fintechs to join inaugural cohort

Visa is encouraging fintech startups across the Asia Pacific region to apply for one of six places in its new Accelerator Program, launching today.

FCA and City of London Corporation pilot digital sandbox

/regulation

FCA and City of London Corporation pilot digital sandbox

The Financial Conduct Authority and the City of London Corporation have called in Fintech Sandpit to help build a digital sandbox.

Can RtP offer the agile approach needed in the post-Coronavirus recovery?

/payments

Can RtP offer the agile approach needed in the post-Coronavirus recovery?

As the world recovers from the Coronavirus pandemic, it is assumed that financial institutions and other businesses will need to adopt new ways of working to navigate what is said to be one of the worst economic downturn in recent years.

Electrifying cloud migration with strategy and security

/cloud

Electrifying cloud migration with strategy and security

The cloud can power innovation for financial institutions. As reported by McKinsey, 70% of banks are reviewing their core banking platforms and are beginning to leverage the potential that cloud-native services can deliver, as well as the offerings provided by technology vendors.

How the cloud adds value to open banking business models and strategy

/cloud

How the cloud adds value to open banking business models and strategy

While open banking was initially regarded by many as a typical compliance exercise, following the implementation of the Second Payments Services Directive (PSD2), banks are now shifting gears and going beyond the regulatory requirements by leveraging the benefits of open APIs to cater to customer needs and innovate open banking business models.

EBAday 2020: ISO 20022 driving harmonisation and fostering competition in banking, payments and fint

/payments

EBAday 2020: ISO 20022 driving harmonisation and fostering competition in banking, payments and fint

Many of the ongoing conversations about ‘old vs new’, ‘big’ vs ‘small’ and ‘incumbent’ vs ‘start-up’ in financial technology may be built around the role of ISO 20022 in the banking and payments ecosystem in the years to come.

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