Innovation

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/Innovation

BBVA aims to convert half of its customer base to mobile banking within the next year

Spanish bank BBVA has set a goal of converting 50% of its customers to mobile banking by 2019.

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Ripple exec says DLT not ready for banks...yet

A lack of scalability and privacy issues are preventing banks from using distributed ledger technology (DLT) to process cross-border payments, says a senior executive at one of the most prominent startups in the DLT space.

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RBC unveils $3.2bn tech budget in digital push

Royal Bank of Canada (RBC) is planning to spend $3.2bn on technology this year in a bid to attract new customers looking for more digital banking services.

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Singapore to develop ethical code for AI and personal data use

Singapore's government has outlined plans to develop a governance programme around the use of artificial intelligence and personal data in its bid to become an international centre for new technology.

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UK launches £2.5bn startup initiative

The UK government has launched a series of initiatives designed to attract more foreign fintech experts to work for UK startups and to encourage those same startups to remain in the UK rather than uproot to an EU-based neighbouring jurisdiction.

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Live: EBAday2018, day two

Payments professionals from across Europe are gathering in Munich this week for EBAday 2018, hosted by the Euro Banking Association and Finextra. We're liveblogging events here.

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10,000 jobs could be lost to robots says Citi

US bank Citi has warned that it could shed half of its 20,000 tech and ops staff in the next five years due to the rise of robotics and automation.

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HSBC promises $17bn investment in technology

Europe's biggest bank HSBC is planning to invest between $15-$17bn in new technology as part of a new growth strategy announced by its chief executive John Flint.

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Enterprise Ireland launches fintech fund

Ireland's state-owned economic development agency Enterprise Ireland has announced the launch of a €750,000 Competitive Start Fund for promising fintech startups.

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Live: EBAday2018, day one

Payments professionals from across Europe are gathering in Munich this week for EBAday 2018, hosted by the Euro Banking Association and Finextra. We're liveblogging events here.

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London claims to be AI capital of Europe

Not content with being Europe's leading fintech hub, London is also staking a claim to the role of the EU's Artificial Intelligence (AI) capital, home to double the number of AI companies than closest rivals Paris and Berlin combined

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Northern Trust applies for blockchain patents

Northern Trust, one of the few financial firms in the world to have a implemented a live distributed ledger application, has applied for two new blockchain-related patents in digital identity and meeting management.

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ABN Amro imagines a cashless dystopian future to attract new talent

ABN Amro has taken a novel approach to recruiting fresh talent, creating a fictional future in a mobile gaming app and challenging prospects to use their tech skills to prevent a financial meltdown.

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Live: Swift Latin American Regional Conference - day two

Welcome to Finextra's live coverage of the Swift Latin American Regional Conference 2018, in Miami. This event will focus on important issues affecting the financial industry in the region, and how the financial community can seize the opportunities that are emerging.

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KBC turns to gaming world for new Virtual Space

Belgian bank KBC is borrowing from the gaming world for its latest pilot, creating a 3D virtual space where customers can move through a game-like environment on their PC, carrying out various tasks in different dedicated zones.

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Live: Swift Latin American Regional Conference - day one

Welcome to Finextra's live coverage of the Swift Latin American Regional Conference 2018, in Miami. This event will focus on important issues affecting the financial industry in the region, and how the financial community can seize the opportunities that are emerging.

/Innovation

Commerzbank taps IoT data to adjust loan repayments for capital equipment

Commerzbank has developed a prototype for a new 'pay-per-use' loan for capital equipment which taps into the Internet of Things to adjust repayment terms according to the actual usage of the machinery on which the loan was taken out.

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European Fintech Alliance hits out at new EC regulation expert group

The European Fintech Alliance (EFA) has accused the EC of failing to give startups a voice in a new expert group on regulating fintech innovation, instead packing the body with traditional financial institutions.

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Ripple promises $50m to universities for blockchain research

Ripple is promising to pump $50 million into a blockchain research initiative with a host of top universities from around the world.

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First nine startups selected for EBAday2018 Fintech Zone

Finextra and the Euro Banking Association have announced the first nine early stage startups selected to exhibit their products and ideas to banking heads from across Europe at the EBA's flagship payments and transaction conference EBAday2018.