Latest Innovation News: Finextra Research

Barclays, First Direct and Nationwide join FCA sandbox cohort

Alongside the usual mix of AI and DLT-based startups, the third edition of the Financial Conduct Authority's regulatory sandbox includes propositions from three of the biggest banks on the high street - Barclays, HSBC's First Direct and Nationwide.

05 December 2017

News/Innovation

Boerse Stuttgart digital ventures unit makes first acquisition

Boerse Stuttgart has snapped up 100% of local data analytics startup Sowa Labs, marking its first fintech acquisition since the establishment a new digital ventures unit in September.

01 December 2017

News/Innovation

Big data and software robots crunch compliance costs for Credit Suisse

Credit Suisse says that a new big data platform and the intelligent deployment of software robots is reversing years of rising compliance costs.

01 December 2017

News/Innovation

How startups should approach working with large banks

How can a technology startup of 30 people, service its small group of clients with a combined workforce of over one million employees, $1 trillion in market cap and decades of legacy systems? By adopting a 'Thin Wedge' approach to innovation, says Guy Halford-Thompson, co-founder and director of enterprise blockchain company BTL Group

01 December 2017

News/Innovation

RBS and Allianz join C$45m funding round for quantum computing startup 1QBit

A host of financial services firms, including the Royal Bank of Scotland, have joined a C$45 million Series B funding round for Vancouver-based quantum computing startup 1QBit Information Technologies.

30 November 2017

News/Innovation

ECB: Banks need to grasp instant payment opportunity to beat off virtual currencies

Banks need to implement instant payments as soon as possible and provide an alternate narrative to the ongoing public debate on the alleged innovation brought by virtual currency schemes, says Yves Mersch, an executive board member of the European Central Bank.

30 November 2017

News/Innovation

Swift Operations Forum Europe 2017, Amsterdam - Day 1 report

The future of money, how we use data and the dizzying advances in digital technologies dominated the opening discussions at the annual Swift Operations Forum Europe (SOFE) convention in Amsterdam.

30 November 2017

News/Innovation

Nordea sets up fintech fund; invests in Betalo

Nordea has become the latest bank to set up a venture fund to invest in fintech startups and gain a headstart in the race towards digitalisation.

30 November 2017

News/Innovation

Societe Generale to cut 900 staff, close 300 branches

French bank SocGen is taking the axe to its business once again, announcing plans for a further 900 job reductions and the closure of 15% of its branch network.

28 November 2017

News/Innovation

BofE stress tests: Banks coud be underestimating the risks from fintech

Britain's banks may be overestimating their ability to limit the impact of fintech and open banking on future profit margins says the Bank of England.

28 November 2017

News/Innovation

Sberbank takes 25% stake in facial recognition startup

Russia's Sberbank has acquired a 25% stake in facial recognition startup VisionLabs as part of a wider effort to build an all-encompassing biometric identification platform.

27 November 2017

News/Innovation

UK Open Banking expanded to cover all PSD2 products

The UK's Open Banking project is being expanded to embrace all payment account types - including credit cards, prepaid cards and e-wallets - covered by PSD2.

22 November 2017

News/Innovation

Robots outpacing back end number crunchers at OCBC

OCBC Bank is reporting astonishing productivity gains following the introduction of robotic process automation to handle number crunching tasks in its secured lending and sales reporting units.

22 November 2017

News/Innovation

Canadian banks rally round Montreal AI lab

BMO Financial group is to inject $2 million into a new AI lab in Montreal that will aim to help startups make the transition from science projects to high-growth companies.

22 November 2017

News/Innovation

Norway's banks look to merge payment services

A group of Norwegian banks are preparing to merge their payments systems in an effort to protect themselves from an expected challenge from Silicon Valley.

22 November 2017

News/Innovation

Robeco launches fintech investment fund

Robeco has launched a Global Fintech Equities fund to give wholesale and retail investors exposure to companies that are transforming the financial sector.

21 November 2017

News/Innovation

HSBC names former Google engineering lead as CIO for RBWM digital

HSBC has appointed Mike Warriner, a former engineering director at Google, as chief information officer for its retail banking and wealth management digital division.

21 November 2017

News/Innovation

DBS builds lifestyle branch for tech generation

Singapore's DBS is bidding to attract the tech generation back into the branch via a new instore 'lifestyle space', featuring freshly-brewed coffee, humanoid robots, video tellers and virtual reality retirement planning.

20 November 2017

News/Innovation

Ripple boss predicts central bank adoption of blockchain

Central banks will use distributed ledger technology (DLT) to settle high-value interbank payments within the next five to ten years, predicts the chief executive of Ripple.

17 November 2017

News/Innovation

Brexit uncertainty causing skills gap say UK tech leaders

The ongoing uncertainty around freedom of movement post-Brexit is affecting the recruitment of technology talent and causing concern among UK tech entrepreneurs about a possible skills shortage.

16 November 2017