Innovation

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MAS and SGX apply blockchain tech for settlement of tokenised assets

/Innovation

MAS and SGX apply blockchain tech for settlement of tokenised assets

The Monetary Authority of Singapore (MAS) and Singapore Exchange (SGX) claim to have successfully developed Delivery versus Payment capabilities for the settlement of tokenised assets across different blockchain platforms.

SIX FinTech Ventures makes first investments

/startups

SIX FinTech Ventures makes first investments

SIX FinTech Ventures, the CHF 50 million corporate venture fund of Swiss financial infrastructure provider SIX, has invested in two early-stage startup graduates from the Zurich-based F10 incubator and accelerator.

Banks won't survive the next 20 years – and it's not because of the economy

/devops

Banks won't survive the next 20 years – and it's not because of the economy

Wiktor Schmidt, the founder and CEO of Netguru, argues that banks will fail, not because of the economy, but because they can't attract and retain developer talent.

Digital transformation to the fore at NextGen Banking Nordics

/Innovation

Digital transformation to the fore at NextGen Banking Nordics

Keynote speakers from Nordea and SEB will open the debate at Finextra's NextGen Banking Nordics conference later this month, addressing the critical challenges facing banks in a market under siege from nimble startups and Big Tech firms.

Deutsche Bank launches standalone mobile wallet

/Innovation

Deutsche Bank launches standalone mobile wallet

Deutsche Bank has set up a subsidiary "startup" called Yunar, which will gradually build out a mobile wallet offering a host of services, beginning with loyalty scheme management.

EToro unveils GoodDollar cryptocurrency experiment to tackle wealth inequality

/inclusion

EToro unveils GoodDollar cryptocurrency experiment to tackle wealth inequality

Online trading and investment platform eToro is pumping $1 million into an open source community project that aims to reduce global wealth inequality through the creation of a cryptocurrency that pays "social interest" to those who have less.

Intesa Sanpaolo to test fingerprint cards

/Innovation

Intesa Sanpaolo to test fingerprint cards

Intesa Sanpaolo is the latest to try its hand at fingerprint cards in a collaboration with Gemalto and Nordic startup Zwipe.

Israel hosts 'pitch in the dark' startup competition

/Innovation

Israel hosts 'pitch in the dark' startup competition

Startups from across Israel made their way to Jaffa this week for a Citi and Visa sponsored competition with a twist: the event took place in pitch black.

American community banks form fintech alliance

/Innovation

American community banks form fintech alliance

A dozen American community and regional banks have formed a consortium, called Alloy Labs Alliance, dedicated to exploring fintech opportunities.

UK banks publish fintech collaboration toolkit

/Innovation

UK banks publish fintech collaboration toolkit

A collective of top UK banks and and financial technology firms have helped to craft a set of guidelines designed to improve engagement between fintech startups and financial institutions.

Oracle seeks fintech startups to join cloud portfolio

/Innovation

Oracle seeks fintech startups to join cloud portfolio

Oracle is on the hunt for mature financial technology startups to join its cloud-based ecosystem, collaborating with Belgian fintech hub B-Hive on a six-week 'ScaleUp' programme

Westpac bets the bank on cloud computing

/Innovation

Westpac bets the bank on cloud computing

Australia's Westpac is expecting big returns from a $500 million investment in a new cloud computing hub, despite posting flat profits for the full-year 2018.

Watch out dinosaurs, we're in 'extinction phase' - Citi global CEO

/Innovation

Watch out dinosaurs, we're in 'extinction phase' - Citi global CEO

Banks are living through an "extinction phase" as they look to survive the asteroid that is digitisation and the new competitors it ushers in, warns Stephen Bird, global CEO, Citi.

NZ bank ASB sets blockchain trades in motion with VerifyUnion; DBS debuts commodity pricing platform

/Innovation

NZ bank ASB sets blockchain trades in motion with VerifyUnion; DBS debuts commodity pricing platform

ASB has partnered with VerifyUnion, a decentralised identification platform, to launch New Zealand’s first bank blockchain single trade window.

The revolution of money is in the hands of the consumer – a Money 20/20 round-up

/payments

The revolution of money is in the hands of the consumer – a Money 20/20 round-up

For the seventh year running, Money 20/20 put on an impressive show in Las Vegas and welcomed thousands of innovators from the fintech and banking industries to learn about disruption and forge business connections.

UK FS industry should create shared digital platforms - report

/Innovation

UK FS industry should create shared digital platforms - report

UK financial firms, regulators and governments would benefit from increased efficiencies and cost savings if the developed shared digital platforms to more effectively tackle things such as customer background checks, regulatory reporting and fraud prevention, says a new report from Deloitte and TheCityUK.

Monzo achieves Unicorn status

/Innovation

Monzo achieves Unicorn status

App-based banking startup Monzo is joining the Unicorn club on the back of a new £85 million funding round that values the three-year old banking newcomer at over £1 billion

DBS Hong Kong launches Startup Xchange

/Innovation

DBS Hong Kong launches Startup Xchange

DBS in Hong Kong is taking a long-term view of the startup ecosystem, setting up a programme for young fintech companies to work in tandem with the bank on innovative solutions that address distinct business problems.

Most banks will be made irrelevant by 2030 - Gartner

/Innovation

Most banks will be made irrelevant by 2030 - Gartner

Within 12 years time, 80% of financial firms will either go out of business or be rendered irrelevant by new competition, changing customer behaviour and advancements in technology, according to forecasts by Gartner.

Embracing the Blockchain Moment

/Innovation

Embracing the Blockchain Moment

Jens Hachmeister, managing director, DLT, crypto assets and new market structures at Deutsche Bourse, believes the embrace of distributed ledger technology by the global banking community will help the industry avert a long-heralded Kodak Moment.

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