Innovation

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/Innovation

Standard Chartered innovation chief talks up the blockchain

Standard Chartered chief innovation officer Anju Patwardhan has become the latest senior banker to talk up the potential of blockchain technology as a way to cut costs and improve transparency for financial transactions.

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Bitcoin incubator opens in Chicago

A collective of Chicago-based entrepreneurs and investors have opened an incubator for bitcoin- and blockchain-focused startups.

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Swift offers grant for research into the blockchain in securities markets

The Swift Institute is offering up a EUR15,000 grant for research into the development of blockchain technology for use in securities markets.

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UK Government names Eileen Burbidge as 'special envoy' for fintech

The UK Government has appointed Passion Capital's Eileen Burbidge as a 'special envoy' for fintech, to champion innovation in financial services across the UK and at an international level.

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Barclays joins BBC initiative to inspire digital creativity

Barclays Bank is one of a host of sponsors of a BBC initiative to give a pocket-sized computer to every year 7 child in the UK for free, with the aim of inspiring digital creativity and developing a new generation of tech pioneers.

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Visa to showcase cashless trend on the catwalk

The world of fintech is set to invade the catwalk at London Fashion Week in September as Visa Europe collaborates with designer Henry Holland on a new range of trend-setting styles that combine fashion, wearables and payments.

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Crypto Facilities and Elliptic bring enterprise standards to bitcoin trading

A pair of bitcoin firms are hoping to bring enterprise adoption of cryptocurrency trading a step closer through the launch of a clearing and settlement function that separates custody from other exchange functions.

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Capital One buys design and development specialist Monsoon

Continuing its strategy of buying in user experience expertise, Capital One has acquired Oakland-based design and development outfit Monsoon for an undisclosed fee.

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Lloyds experiments with 'tap to bank' card tech for mobile authentication

Lloyds Bank customers may soon be able to use their contactless debit card as a way of securely authenticating their identity when setting up the mobile banking app on an NFC-enabled device.

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Blockchain could upend post-trade infrastructure - BNP Paribas analyst

A distributed blockchain system has the potential to completely upend post-trade infrastructure, leaving many current market players redundant, according to a BNP Paribas analyst.

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Fintech leads the charge as VC investment in UK tech firms hits record highs

Venture capital investment into Britain’s technology companies has hit a record high of nearly $1.5bn during the first six months of this year, with London-based fintech firms leading the charge.

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Nordea sets up fintech accelerator

With Sweden recently staking a claim as a fintech hotspot, Stockholm-headquartered Nordea has moved to grab a slice of the action by setting up an accelerator programme with Finnish innovation agency Nestholma to nurture small businesses developing digital banking services across the Nordics.

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Infosys wins AIB outsourcing deal; establishes $10 million innovation fund

Indian IT services group Infosys is to set aside $10 million from its $500 million innovation fund to invest in Irish startups on the back of a new outsourcing deal with Allied Irish Bank.

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ING names Benoit Legrand head of fintech

ING has appointed Benoit Legrand to the newly-created role of head of fintech, charging him with developing a strategy for how the bank deals with financial technology firms.

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Citi builds blockchains

Citi has been exploring distributed ledger technology for years, building three blockchains and creating its own crypto-currency, dubbed Citicoin, the banking giant has told International Business Times.

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Singapore pledges S$225m to fintech

Singapore has committed S$225 million over the next five years to a scheme designed to build a vibrant ecosystem for innovation in fintech.

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Greeks flock to Bitcoin

Bitcoin exchanges are reporting a surge in interest from Greek users faced with shuttered banks and capital controls.

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Smartphone challenger bank Mondo awaits approval from BofE

UK banking startup Mondo - established by a team who flew the nest at fledgeling challenger Starling - is to meet with the Bank of England on Wednesday to make its case for approval for a full banking license after raising £2 million in funding from Passion Capital.

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UK payments regulator calls for 'pipes and wires' innovation

The managing director of Britain's new Payments Systems Regulator has bemoaned a lack of innovation in the back-end infrastructure of payments, and warned that she will step in if industry does not up its game.

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Partnership shows retirement in 3D with Google Cardboard App

UK pensions annuity outfit Partnership has become the first financial services brand to launch a Google Cardboard App