Innovation

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Nestle store in Spain trials facial payments

/Innovation

Nestle store in Spain trials facial payments

A Nestle grocery store in Spain has implemented a face payment system developed by CaixaBank and the bank's Payment Innovation Hub alliance, comprising partner institutions Global Payments, Visa, Samsung and Arval.

Westpac wants your next bank manager to be a robot

/Innovation

Westpac wants your next bank manager to be a robot

Westpac CEO Brian Hartzer says the bank wants to recreate the personal touch of the old-time bank manager by using artificial intelligence technology to pander to each customer's particular needs.

Plum raises another $3m and launches on Android

/Innovation

Plum raises another $3m and launches on Android

Closing a second round of funding with a $3 million investment, AI powered smart savings app Plum now boasts a total lifetime investment of $9.3 million.

The CIO’s blueprint for streamlining digital business agreements

/Innovation

The CIO’s blueprint for streamlining digital business agreements

80% of financial institutions will become irrelevant by 2030 due to their inability to compete with digitally-savvy rivals, according to research by Gartner.

Research highlights the work that robo-advisers still have to do

/Innovation

Research highlights the work that robo-advisers still have to do

Research by wealthtech provider, Nucoro, shows that only 8% of people believe a robo-adviser would provide the best returns on their money.

De-risking sustainable reporting of commercial banking data

/sustainable

De-risking sustainable reporting of commercial banking data

While the Sustainable Development Goals (SDGs) set by the United Nations General Assembly for 2030 are ambitious, the financial services industry will play a crucial role in supporting countries with implementing new approaches to build momentum and accelerate progress.

YES Bank launches sandbox housing 50 bank APIs

/Innovation

YES Bank launches sandbox housing 50 bank APIs

India's YES Bank has laid claim to the launch of the country's largest developer platform, housing an array of 50 APIs for use by third parties.

HSBC claims hyper-personalised banking will be driven by digital ID

/retail

HSBC claims hyper-personalised banking will be driven by digital ID

A new report from HSBC reveals that the traditional products-based approach in retail banking will be replaced by hyper-personalised services, where customer personal data will be collated to form a central digital ID.

Will trust woes undermine Open Banking under PSD2?

/Innovation

Will trust woes undermine Open Banking under PSD2?

In a roundtable discussion held Wednesday in London hosted by digital payments firm PPRO, industry leaders met to explore the impact PSD2 has imposed on key players in Open Banking and the changes needed to achieve the regulation’s objective in 2020 and beyond.

FATF zeroes in on digital ID as key to AML compliance

/regulation

FATF zeroes in on digital ID as key to AML compliance

Issuing a draft Guidance Paper last week, the Financial Action Task Force (FATF) urges financial institutions to ready themselves for the impending global expansion of digital identification systems.

DBS launches hybrid robo-advisory wealth management service

/Innovation

DBS launches hybrid robo-advisory wealth management service

DBS has developed a hybrid human-robo investment service which is now available to customers in its native Singapore.

Industry heavyweights establish Alliance to modernise financial regulation

/regulation

Industry heavyweights establish Alliance to modernise financial regulation

Co-founded by Jo Ann Barefoot, former deputy comptroller of the currency and David Ehrich of fintech credit card startup, Petal, The Alliance for Innovative Regulation (AIR) has been launched to help regulatory agencies deal with the technological challenges posed by fintech innovation.

Nutmeg expands human-led service in ongoing bid for profitability

/Innovation

Nutmeg expands human-led service in ongoing bid for profitability

Nutmeg's head of advice Lisa Caplan has spoken to Finextra about the continued expansion of its digital wealth management offering beyond the automated investment platform for which its known.

Modulr invests £20m in Scottish fintech

/Innovation

Modulr invests £20m in Scottish fintech

SME payments outfit Modulr is to invest the best part of £20m in the Scottish fintech industry, in the process creating 53 new jobs and nurturing new technology talent.

Walmart and Green Dot establish shopping and fintech accelerator

/Innovation

Walmart and Green Dot establish shopping and fintech accelerator

Walmart and Green Dot are to create an accelerator for startups sitting at the intersection of retail shopping and consumer financial services.

Money 20/20: Fusion centres are the future of fraud prevention

/security

Money 20/20: Fusion centres are the future of fraud prevention

Security executives have a bigger seat at the table when making product decisions in the world of faster payments and online account origination. At Money 20/20 USA, industry experts discuss how technical knowledge and business issues need to be married to truly meet the realities of digital transformation and prevent fraud.

Retail banks losing the race to challengers in the last mile

/retail

Retail banks losing the race to challengers in the last mile

Capgemini and Efma's World Retail Banking Report (WRBR) released today finds that consumers are increasingly choosing challenger banks due to poor customer service in the 'last mile' of service delivery from high street incumbents.

Tracking Bitcoin's highs and lows

/Innovation

Tracking Bitcoin's highs and lows

The volatile nature of bitcoin trading has been brought into the spotlight by recent sharp rises and falls in the cryptocurrency after Mark Zuckerberg's grilling in Congress was countered by positive sentiment from China about blockchain and a future central-bank backed currency.

Nationwide invests in energy switching startup

/Innovation

Nationwide invests in energy switching startup

Nationwide is to buy a stake in energy switching company Switchd, adding to the panoply of peripheral fintech startups in the building society's £50 million Venture Fund portfolio.

Money 20/20: Banks can be creepy, as long as they personalise services

/Innovation

Money 20/20: Banks can be creepy, as long as they personalise services

John Thomas, head of enterprise, innovation & strategic business architecture at TD Bank showcases his expertise on how to leverage data to synthesise the customer experience while at the same time, remaining hyper-relevant in the banking sector at Money 20/20 USA in Las Vegas.

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