Innovation

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Global fintech investment booms as banks jump in

/Innovation

Global fintech investment booms as banks jump in

Investment in fintech firms is expected to jump 66% to over US$20bn in 2015, with a fresh batch of Chinese firms sharing the rewards, according to a new report released by KPMG and Australia's H2 Ventures.

SETL commences fundraising; appoints former BofE exec Sir David Walker as chairman

/Innovation

SETL commences fundraising; appoints former BofE exec Sir David Walker as chairman

Sir David Walker, a former executive director of the Bank of England, joins the ranks of financial luminaries clambering aboard the blockchain bandwagon by joining cryptographic payments and settlement infrastructure startup SETL as chairman.

MBank to spend EUR17 million on new network of 'Light' branches

/Innovation

MBank to spend EUR17 million on new network of 'Light' branches

Poland's mBank is to spend EUR17 million to open a network of 40 compact bank branches comprising ultra-modern multi-touch screens, motion sensing and face-recognition technologies in shopping malls across the country.

ABN Amro joins Google X Hub as founding partner

/Innovation

ABN Amro joins Google X Hub as founding partner

ABN Amro is the founding partner of a new technology hub for startups in central Amsterdam set up by Google and tech mag The Next Web.

Bank spend on blockchain tech to top $1 billion by 2017 - Magister Advisors

/Innovation

Bank spend on blockchain tech to top $1 billion by 2017 - Magister Advisors

Spending by financial institutions on blockchain projects will exceed $1bn in 2017, making it one of the fastest developing enterprise software markets of all time, says boutique investment bank Magister Advisors.

Firms focus spending on smaller fintech deals

/Innovation

Firms focus spending on smaller fintech deals

Capital market firms have little appetite for investing in large-scale fintech projects and are instead showing an overwhelming preference for cheap, short-term projects according to research.

Swift bids to save correspondent banks from extinction

/Innovation

Swift bids to save correspondent banks from extinction

With the role of the middle man in financial services increasingly under threat from a host of new startups and technologies, international banking co-operative Swift has stepped in with a range of service level agreements intended to differentiate and improve the customer experience in correspondent banking by increasing the speed, transparency and predictability of cross-border payments.

Omidyar Network invests in tech enabling central banks to issue digital fiat currency

/Innovation

Omidyar Network invests in tech enabling central banks to issue digital fiat currency

EBay founder Pierre Omidyar's investment vehicle Omidyar Network has pumped money into eCurrency Mint (eCM), a Dublin-based outfit developing technology that enables central banks to issue digital fiat currency.

Malaysian coders win $100,000 MasterCard hack

/Innovation

Malaysian coders win $100,000 MasterCard hack

A five-person team from Malaysia has walked away with a $100,000 prize after emerging victorious in the grand finale of MasterCard’s globe-trotting Masters of Code hackathon.

CommBank invests $10 million in quantum computing effort

/Innovation

CommBank invests $10 million in quantum computing effort

Commonwealth Bank of Australia has pledged $10 million in funding to support a local research effort to build the world’s first silicon-based quantum computer in Sydney.

India enlists RS Software for digital payments platform

/Innovation

India enlists RS Software for digital payments platform

The National Payments Corporation of India (NPCI) has called in local vendor RS Software to build a digital payments platform designed to facilitate the country's push to electronic money.

Aussie super fund to join fintech spending spree

/Innovation

Aussie super fund to join fintech spending spree

Australian superannuation fund First State Super has unveiled plans to plough millions of dollars into fintech startups through a partnership with specialist VC fund H2 Ventures.

Microsoft blockchain-as-a-service embraces Ripple

/Innovation

Microsoft blockchain-as-a-service embraces Ripple

Microsoft is working with Ripple to add a pure play transactional financial services angle to its recently released blockchain-as-a-service (BaaS) toolkit.

Fintech makes Investopedia top 10 new financial terms list

/Innovation

Fintech makes Investopedia top 10 new financial terms list

After another high-profile year for financial technology, the term 'fintech' has finally made its way onto investing education site Investopedia.

Infosys to create 250 fintech jobs in Ireland

/Innovation

Infosys to create 250 fintech jobs in Ireland

Indian IT services group Infosys is promising to create 250 fintech-related jobs in Ireland over the next three years.

Deutsche Bank launches robo-advisor for online investment platform

/Innovation

Deutsche Bank launches robo-advisor for online investment platform

The inextricable path to human obsolescence continues as Deutsche Bank adds a robo-advisor to its maxblue online investment platform, enabling clients to ditch people for algorithms.

ABN Amro invites customers to sign up with a selfie

/Innovation

ABN Amro invites customers to sign up with a selfie

ABN Amro is wooing the 'selfie generation' by enabling prospective customers to sign up for a new account with just their smartphone.

Innotribe pivots to explore internal opportunities for innovation at Swift

/Innovation

Innotribe pivots to explore internal opportunities for innovation at Swift

Innotribe, the innovation arm of financial messaging co-operative Swift, is to narrow its startup focus to emerging economies and instead operate as a force for driving collaboration around new utility-based services for member banks.

DBS pledges S$10 million to support Singaporean startup ecosystem

/Innovation

DBS pledges S$10 million to support Singaporean startup ecosystem

DBS Bank has pledged to invest S$10 million in initiatives that will support the development of the startup ecosystem in Singapore over the next five years.

Umpqua creates innovation subsidiary

/Innovation

Umpqua creates innovation subsidiary

The parent company of Portland-based Umpqua Bank is setting up a new Silicon Valley unit tasked with "disrupting and advancing bank innovation".

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