Latest Innovation News: Finextra Research

UK Government unveils Fintech Strategy

A new cryptoassets task force, advances in RegTech and a UK-Australia startup support programme are the major initiatives to emerge from the UK Government’s first Fintech Sector Strategy.

22 March 2018

News/Innovation

UK fintech sector eager to embrace Open Banking

UK fintech firms are working hard to make the most of the Open Banking era, according to a survey from EY which shows that the vast majority are actively getting ready to take advantage of the slew of customer data that is being opened up to them.

22 March 2018

News/Innovation

Ex-Barclays man Ormerod joins BBVA to lead New Digital Business unit

Spanish banking giant BBVA has brought in Ian Ormerod to lead its New Digital Business (NDB) unit, where he will team up again with former Barclays colleague Derek White.

21 March 2018

News/Innovation

Royal Bank of Canada opens API developer portal

Royal Bank of Canada has opened an API portal to encourage the development of new products by third parties using the bank's data.

21 March 2018

News/Innovation

Swift Business Forum Canada - live blog

Welcome to Finextra's live coverage of the Swift Business Forum Canada 2018 in Toronto. This event will focus on important issues affecting the financial industry, exploring how far, and how fast, the transformation of financial services will take place in Canada and beyond.

21 March 2018

News/Innovation

France is best for croissants, London for finance - City Minister

Economic Secretary to the Treasury John Glen had had a dig at France's ambitions to replace the UK as Europe's leading fintech hub in a speech at the Innovate Finance Global Summit.

20 March 2018

News/Innovation

Northern Trust places auditor node on private equity blockchain

Norther Trust is providing an audit node on its private equity distributed ledger in Guernsey, to provide firms with access to relevant fund data direct from the blockchain.

20 March 2018

News/Innovation

Regulators to hash out global fintech sandbox

The UK's Financial Conduct Authority says that it will start working with partners in Europe, the Far East and the US on a blueprint for a global regulatory fintech sandbox.

19 March 2018

News/Innovation

BBVA tests 'invisible payments' technology at inhouse cafe

BBVA is testing a facial recognition system at its inhouse cafetaria that is capable of recognising users and their orders and charging their cards as part of a strategy to render checkouts and payments 'invisible'.

19 March 2018

News/Innovation

Lithuanian central bank goes to tender for blockchain platform

The Bank of Lithuania has issued a call for proposals for software developers interested in contributing to the development of LBChain, a regulatory sandbox platform for blockchain projects.

16 March 2018

News/Innovation

Can banks be a threat to Big Tech?

Derek White, global head of customer and client solutions at BBVA, took part in Money 20/20 Asia, where he shared his take on the debate of who will corner the banking business in the future: Banks or Big Tech?

16 March 2018

News/Innovation

Credit Suisse to pump CHF30m into Swiss fintech startups

Credit Suisse is looking to strengthen Switzerland's position as a financial technology hub by earmarking CHF30 million ($31.7m) in venture capital for investment in local fintech startups.

16 March 2018

News/Innovation

European Banking Authority to establish Fintech Knowledge Hub

The European Banking Authority is to establish a Fintech Knowledge Hub as part of its Roadmap for getting to grips with new tech-led developments in financial services.

15 March 2018

News/Innovation

Indian fintech sector needs regulatory support to flourish

India's nascent fintech sector has huge potential but requires a supportive regulatory environment and investment in human talent to flourish, a new report commissioned by Yes Bank suggests.

15 March 2018

News/Innovation

Singapore's OCBC establishes dedicated AI Lab

Singapore's OCBC Bank is to spend $10 million over the next three years to develop inhouse expertise in artificial intelligence with the creation of a dedicated AI division.

14 March 2018

News/Innovation

BIS warns central banks on digital currency issuance

Central banks should steer clear of developing their own digital currencies for issue to the general public the Bank for International Settlements has warned.

13 March 2018

News/Innovation

EBA chair unconvinced on cryptocurrency regulation; talks up 'fintech roadmap'

The head of the European Banking Authority says that he has "yet to be convinced" that cryptocurrencies should come under the full scope of regulation.

09 March 2018

News/Innovation

Bank of Amazon could woo 70 million US customers within five years

Bain and Co, estimates that a banking service from Amazon could swell to more than 70 million US customer accounts within five years, equalling the size of the country's third largest bank, Wells Fargo.

09 March 2018

News/Innovation

Adoption of DLT presents significant operational challenges for Swift member banks

Banking co-operative Swift has published the final results from its DLT proof of concept for Nostro reconciliation. While the PoC proved a resounding success, just don't expect a working solution anytime soon.

08 March 2018

News/Innovation

European Commission sets out 23-step 'Fintech Action Plan'

The European Commission has set out details of a 23-step 'Fintech Action Plan' to promote the digital transformation of the financial services sector, including the establishment of an EU Fintech Laboratory, the creation of a best-practices blueprint for regulatory sandboxes and substantial crowdfunding reforms.

08 March 2018