Innovation

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Smart contracts set to transform financial services - BBVA

/Innovation

Smart contracts set to transform financial services - BBVA

Smart contracts facilitated by blockchain technologies could usher in a new wave of innovation in banking services, say economists at BBVA.

Sweden on course to be first cashless country

/Innovation

Sweden on course to be first cashless country

Sweden is on track to becoming the world's first cashless society, thanks to the country's embrace of IT, as well as a crackdown on organised crime and terror, according to a study from Stockholm's KTH Royal Institute of Technology.

Digital IDs, crowdfunding, and innovation top Australian Gov reform agenda

/Innovation

Digital IDs, crowdfunding, and innovation top Australian Gov reform agenda

The Australian Government is promising a root and branch reform of the nation's financial sector, ushering in new legislation for crowdfunding, interchange fee reductions, improvements to data sharing and competition in the supply of digital identities.

Nationwide Building Society innovation chiefs set up own shop

/Innovation

Nationwide Building Society innovation chiefs set up own shop

Nationwide Building Society innovation leaders Jake Chambers and Daryl Wilkinson are leaving the firm to set up their own "strategy and innovation services company".

Scotiabank builds digital factory

/Innovation

Scotiabank builds digital factory

Canada's Scotiabank is opening a 'digital factory' in downtown Toronto to house 350 technology staffers dedicated to designing and delivering innovative digital services.

Citi creates fintech unit for mobile-first future

/Innovation

Citi creates fintech unit for mobile-first future

Citi is setting up a fintech unit, led by Heather Cox, that will focus on making the US banking giant ready for a "mobile first" future.

FS firms told to prepare for avalanche of IoT data

/Innovation

FS firms told to prepare for avalanche of IoT data

Financial services firms should begin planning for the avalanche of new data that will hit them through the rise of the Internet of Things (IoT), which, if used correctly, could bring huge benefits to the industry, according to a Deloitte University Press report.

Blocks bids to build smartwatch of the future

/Innovation

Blocks bids to build smartwatch of the future

Blocks, a London-based startup that promises to revolutionise the smartwatch market with a modular smartstrap capable of performing NFC payments, heartrate monitoring and a host of other functions, has raised close to $700,000 - almost triple its $250,000 target - within its first three days on Kickstarter.

ING looks for ideas for next generation digital bank at 24-hour hackathon

/Innovation

ING looks for ideas for next generation digital bank at 24-hour hackathon

Two hundred ING employees and 100 external developers/IT students from Romania are expected to participate in the bank's annual 24-hour coding event, competing to create innovative ideas for a 'next generation digital bank'.

London Mayor leads fintech trade mission to Japan

/Innovation

London Mayor leads fintech trade mission to Japan

The Mayor of London is leading a fintech trade mission to Japan to forge a cross-border collaboration pact in the run up to the 2020 Olympic Games as new research reveals growing uptake of innovative financial services models by wealthy young professionals.

ING Belgium offers fast track to crowdfunding for business clients

/Innovation

ING Belgium offers fast track to crowdfunding for business clients

ING in Belgium is offering small businesses a fast-track procedure for raising funds on crowdfunding platforms Seedrs and KissKissBangBang.

UK government invests £10m in distributed ledger technology research

/Innovation

UK government invests £10m in distributed ledger technology research

The UK government is pumping another £10 million into fintech research as it explores the opportunities presented by the distributed ledger technology behind bitcoin.

Barclays signs deals with blockchain startups; Hyperledger wins Innotribe contest

/Innovation

Barclays signs deals with blockchain startups; Hyperledger wins Innotribe contest

Barclays Bank has reportedly signed contracts with two blockchain technology startups who participated in the bank's New York accelerator programme, further underscoring its interest in the emerging technology.

Trade finance first to be disrupted by Internet of Things say bank CIOs

/Innovation

Trade finance first to be disrupted by Internet of Things say bank CIOs

In a rare session for Sibos 2015, having almost no mention of blockchain, leading technologists from three of the world’s largest banks shared their views on the transformative effect of digital technologies on the business of banking.

Moven scores $12 million funding round

/Innovation

Moven scores $12 million funding round

Digital-only neobank Moven has raised $12 million in a Series B financing round led by Route 66 Ventures.

Emerging markets banks and P2P lenders urged to form marriages of convenience

/Innovation

Emerging markets banks and P2P lenders urged to form marriages of convenience

Banks in emerging markets should enter into marriages of conveniences with peer-to-peer lenders, helping their putative rivals navigate tough credit and regulatory environments in exchange for help in winning new clients, according to the group chief innovation officer of Standard Chartered Bank.

NAB seeks inspiration from Australian startup space Fishburners

/Innovation

NAB seeks inspiration from Australian startup space Fishburners

National Australia bank has lent its support to Fishburners, Australia's largest co-working space and home to 176 startups, as it bids to forge partnerships with innovative third party businesses.

From Unicorns to dragons, meet the new face of banking disruption

/Innovation

From Unicorns to dragons, meet the new face of banking disruption

The seeds of disruption in the banking industry will not be sown by US and European Unicorns or emerging technologies like the blockchain, but from the power of Chinese dragons in the shape of Alibaba, Tencent and Baidu, according to a new report prepared for Innotribe, the innovation arm of financial messaging network Swift.

FIX sets up blockchain Working Group; SETL busts 1billion transactions per day

/Innovation

FIX sets up blockchain Working Group; SETL busts 1billion transactions per day

The FIX Trading Community has set up a Working Group to focus on the use of digital currency and blockchain initiatives in the capital markets industry.

Australian PM pushes retail BookBuild app

/Innovation

Australian PM pushes retail BookBuild app

A new mobile app which gives retail investors free access to IPOs and private placements on the Australian Stock Exchange has been launched by local startup OnMarket BookBuilds, under the watchful eye of the country's Prime Minister Malcolm Turnbull, who conducted the first transaction using the system.

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