Latest Innovation News: Finextra Research

Is RegTech encouraging a cloud revolution?

The deployment of new applications and the migration of core systems onto the cloud is in full swing, and financial institutions (FIs) could arguably soon be free of the legacy shackles that prevent them from moving forward into the age of digitalisation.

30 July 2019

News/Innovation

Finextra issues call for comment on payments revolution

Finextra is opening a public consultation on the competitive pressures driving the future strategy and direction of banks, as the sector grapples with a series of profound disruptions that are shaking up the once staid payments industry.

26 July 2019

News/Innovation

As blockchain hype subsides, banks count the cost of early euphoria

Banks and technology companies have poured billions of dollars into blockchain projects, but as the hype dies down, many of the early evangelists for the technology have come to the conclusion that production-ready deployment still remains a distant goal.

19 July 2019

News/Innovation

Tally launches banking app tied to gold ownership

UK startup Tally has launched an app offering individual banking accounts delivering saving and spending in physical gold.

18 July 2019

News/Innovation

Top US banks unite for 'Fintech Focus' coding bootcamp

Bank of America, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo are to turn their New York offices into coding bootcamps for under-represented college students in a new initiative intended to increase the representation of women and people of colour in software engineering within the financial services industry.

17 July 2019

News/payments

Cash under threat from tech giant-run e-money - IMF paper

Cash and bank deposits face tough competition from, and could even be surpassed by, e-money provided by the likes of Alipay and Facebook, says a new International Monetary Fund (IMF) paper.

17 July 2019

News/ai

Machine says no: FCA to explore the 'explainability' of AI in consumer finance

The UK's Financial Conduct Authority is partnering with the Alan Turing Institute to explore the transparency and explainability of AI in the financial sector.

16 July 2019

News/startups

Brexit be damned: UK fintech sector sees record growth

UK fintech startups have reached a record level of $2.9 billion of funding in the first half of this year, across a total of 123 deals.

16 July 2019

News/Innovation

South Korean banks join Samsung and telcos in blockchain ID project

KEB Hana Bank and Woori Bank in South Korea are collaborating with Koscom, Samsung Electronics and three leading telcos to develop a blockchain-based system for storing digital identities.

15 July 2019

News/Innovation

Esma fills in the gaps on the licensing of fintech firms across Europe

The European Securities and Markets Authority (Esma) has found regulatory gaps across EU member states in the licensing regime for crypto-asset related activities and in the governance and risk management processes associated with both cyber security and cloud outsourcing.

15 July 2019

News/cloud

Maintaining data integrity in the cloud amid regulatory change

The cloud is beckoning, and security is job number one. Regulatory reporting has shifted from accounting values to full-fledged risk management, encompassing credit, liquidity and market risk as financial institutions (FIs) increase in size, have larger geographic footprints and continue to offer complex products.

12 July 2019

News/Innovation

Citi Ventures invests in Car IQ

Citi Ventures has joined a $5 million funding round in vehicle payment technology startup Car IQ.

10 July 2019

News/Innovation

UK fintech Soldo raises €54m for Dublin move

A London-based startup that has migrated most of its operations to Ireland ahead of a possible Brexit has raised €54m to help funds its relocation.

08 July 2019

News/Innovation

Deutsche Bank to spend €13bn on tech amid massive job cuts

Deutsche Bank has announced swingeing job cuts as part of a radical overhaul of its operations that will also see it spend €13bn on new technology over the next four years.

08 July 2019

News/Innovation

BBVA and Spain's National Research Council form quantum pact

BBVA and the Spanish National Research Council (CSIC) have set up a joint team of researchers that will work together on the design and testing of quantum algorithms applied to financial use cases.

05 July 2019

News/Innovation

Oz lenders and IBM team on bank guarantee blockchain platform

ANZ, Commonwealth Bank and Westpac are joining forces with IBM and shopping centre giant Scentre Group to pilot a blockchain-based platform for managing bank guarantees.

03 July 2019

News/Innovation

BIS to set up network of Innovation Hubs

The Bank for International Settlements is to set up a network of Innovation Hubs in major financial locations as central banks grapple with the policy implications of new technology.

01 July 2019

News/Innovation

Santander pips Metro Bank for best savings account

Santander has the most intuitive savings account and ranks fastest for account opening time when compared with nine other leading UK banks, according to Worship’s inaugural Savings Account Audit.

01 July 2019

News/Innovation

Goldman Sachs could create digital coin

Goldman Sachs could follow JPMorgan Chase in creating a digital coin, CEO David Solomon has revealed in an interview in which he also dismissed the threat of tech giants such as Facebook moving beyond payments into deposits.

28 June 2019

News/devops

Finastra calls developers for community bank-focused appathon

Finastra is running its first public appathon, inviting fintech firms and developers to build applications that help North American community banks and credit unions.

28 June 2019