Innovation

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/Innovation

Distributed ledger tech could see Brits get Bank of England accounts - deputy governor

A senior Bank of England official has floated the idea of using distributed ledger technology to enable individuals to hold digital currency accounts with the central bank, but has warned that such a move could prove damaging to commercial providers.

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Hong Kong securities watchdog sets up fintech contact channel

Hong Kong's Securities and Futures Commission (SFC) has established a 'Fintech Contact Point' as a dedicated channel to encourage businesses involved in the development and application of financial technology.

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Mondo reboots crowdfunding campaign

Digital challenger bank Mondo has set a new date for its £1 million crowdfunding campaign after a rush of applicants on Monday toppled the servers of platform provider Crowdcube.

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Iosco puts digital disruption high up the risk agenda

International securities regulatory body Iosco has identified the disruptive threats from technological innovation as a key risk factor facing financial markets in 2016.

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Two of Wall Street's most powerful women are uniting behind blockchain

Two of Wall Street's most high-profile women have joined together to bring blockchain-based services to the financial markets as Sallie Crawcheck joins the board of Blythe Masters' distributed ledger outfit Digital Asset Holdings.

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Innovation types - Lloyds is hiring

Lloyds Banking Group is on the hunt for a head of "innovation product launch and learn" to help lead its £1 billion digital charge.

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The force awakens: Big Data in banking

Advances in big data mining could open up whole new frontiers in financial services, says Standard Chartered’s global chief innovation officer, Anju Patwardhan

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ANZ recruits Google MD to lead digital banking

ANZ has recruited a former Google executive to its newly created role of group executive, digital banking, reporting directly to CEO Shayne Elliott.

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Korea Exchange joins blockchain gold rush

The Korea Exchange is looking to use distributed ledger technology for a new OTC trading platform.

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MasterCard invites fashion and design students to hack the future of digital payments

MasterCard is looking to take payments beyond cards and mobile phones, inviting fashion and design students to build new ways to pay.

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Mondo rush breaks Crowdcube

Crowdcube servers have been overwhelmed by a rush of people trying to join a £1 million crowdfunding round in digital banking startup Mondo.

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Global regulators to probe fintech threats to financial stability

The Financial Stability Board is to evaluate the potential for systemic risk posed by emerging innovations in financial technology, a move which may mark the beginning of the end to the regulatory advantages enjoyed by fintech firms operating at the fringes of the financial services sector.

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Welcome to the future: Drone Pay

Forget Apple Pay, MasterCard's selfie pay and bitcoin, Finextra has seen the future of payments and it is Drone Pay.

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Australian government pledges support for Asia-Pacific fintech push

The Australian Government has pledged $150,000 to Sydney-based fintech accelerator Stone & Chalk to champion the nation's startup economy in the Asia-Pacific region.

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RBC tests distributed ledger for remittances and loyalty programme

The Royal Bank of Canada (RBC) is the latest financial services giant to go public with its distributed ledger progress, confirming that it is working with Ripple on cross-border payments and experimenting with a blockchain-based loyalty platform.

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Registrations soar for Finextra challenger bank event

Advanced registrations for Finextra's forthcoming NextGen banking event at London’s Level39 in Canary Wharf have topped the 500 mark, as Britain's new wave of challenger banks set out their plans to take on the nation's biggest financial institutions.

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HK Government goes all in on fintech

Hong Kong's financial secretary John Tsang Chun-wah reserved a special mention for fintech in his budget speech on Wednesday, promising to pump cash into the startup ecosystem and create a dedicated space to support up to 150 new financial technology companies over the next five year.

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Number26 adds in-app access to TransferWise API as startups gang up on banks

The great rebundling of financial services products has begun, as German smartphone-only bank Number26 partners with TransferWise to add direct in-app access to the London-based company's P2P currency exchange platform.

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Emirates NBD launches global challenge for fintech startups

Middle East banking powerhouse Emirates NBD is inviting fintech startups from around the world to take part in a competition to design digital financial services tools for the chance to win cash prizes.

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Payments competition body says banks should sell stakes in VocaLink

The UK's Payment Systems Regulator (PSR) says banks should sell their stakes in VocaLink to help increase innovation and competition in the nation's critical payments infrastructure.