Latest Innovation News: Finextra Research

Boardroom ignorance holding back bank's tech plans

Bank's IT departments are unable to pursue innovation with the latest digital technologies because they have lost influence in the boardroom with senior managers that do not properly understand new technology.

16 November 2017

News/Innovation

SEC and exchanges in spat over surveillance system

A row has broken out between the US capital markets watchdog and a number of exchanges over the plan to impose a new market surveillance system on the US equities and options market.

15 November 2017

News/Innovation

Singapore offers $20m grant for banks' AI and data projects

Singapore has stepped up its fintech ambitions with the offer of a S$27m ($19.91m) grant to promote the further use of artificial intelligence and data analytics in the financial services market.

15 November 2017

News/Innovation

DIFC establishes $100 million fintech fund

Dubai International Financial Group (DIFC) has established a $100 million fintech-focused fund to invest in start-ups from incubation through to growth stage.

14 November 2017

News/Innovation

Singapore central bank open sources blockchain prototypes

An industry consortium led by the Monetary Authority of Singapore (MAS) and the island's Association of Banks has released the source-codes of three successful distributed ledger prototypes for inter-bank payments, in an effort to encourage other financial institutions and central banks to experiment with the technology.

14 November 2017

News/Innovation

Asean countries launch fintech network

National financial technology organisations from six Asean countries have banded together to form a network designed to foster collaboration and boost the region's position as a fintech hub.

13 November 2017

News/Innovation

SocGen opens internal startup programme

Societe Generale is the latest French bank bidding to tap into latent employee talent through a major intrapreneurship programme.

09 November 2017

News/Innovation

Bank of Amazon? US regulator calls for rethink on separation of banking and commerce

A senior US regulator has floated the possibility of ending the long-standing separation of banking and commerce, paving the way for the likes of Amazon, Facebook and Walmart to take on Bank of America, Wells Fargo, Citi et al.

08 November 2017

News/Innovation

Ontario preps fintech sandbox

The Canadian province of Ontario is looking to burnish its reputation as a financial innovation hub by setting up a fintech regulatory sandbox and accelerator office.

08 November 2017

News/Innovation

Visa payment gloves keep the cold at bay at Winter Olympics

Sports fans attending the Olympic Winter Games in PyeongChang will be able to keep their hands warm and fend off frostbite while paying for goods and services thanks to a special pair of wooly mittens bearing the Visa brand and an embedded NFC chip.

08 November 2017

News/Innovation

Design Thinking pays off for BBVA

BBVA is attributing a new approach to Design Thinking and continuous customer feedback to a massive uplift in usage of its mobile banking app since its relaunch in mid-September.

08 November 2017

News/Innovation

AI-driven finance app Douugh partners Choice Financial for checking account

San Francisco-based fintech startup Douugh has teamed up with community bank Choice Financial to launch an app-based checking account and debit card that will lean heavily on AI to help users better manage their money.

06 November 2017

News/Innovation

Bahrain to open dedicated fintech hub

The Bahraini Government and the region's Central Bank are backing the creation of a new fintech hub in a 10,000 square metre space overlooking the waters of Bahrain Bay and the Arabian Gulf.

06 November 2017

News/Innovation

Face ID today; digital DNA tomorrow

With the advent of Face ID on the iPhone, Travis Tyler, general manager, consumer digital at Westpac looks ahead to the next wave of innovation.

06 November 2017

News/Innovation

Paytm takes on messaging apps with chat feature

Indian mobile wallet giant Paytm has added a chat feature to its app as it seeks to defend its ground against messaging outfits, such as Whatsapp, entering the payments space.

03 November 2017

News/Innovation

Australian fintech sector comes of age as revenues surge

Australia's fledgeling fintech industry is coming of age, experiencing a tripling of median revenue and providing a genuine challenge to established banks, according to figures prepared by Ernst & Young.

03 November 2017

News/Innovation

TransferWise to sell new shares to cement unicorn status

The two founders of start-up foreign exchange service TransferWise are reported to be preparing a sale of some of their shares in a further round of fundraising that could see the company's valuation exceed £1.2 billion, consolidating its unicorn status.

31 October 2017

News/Innovation

20+ banks and R3 plan DLT-based cross-border payment platform

Blockchain consortium R3 and 22 of its member banks have collaborated on the development of a cross-border payments platform built using distributed ledger technology (DLT).

31 October 2017

News/Innovation

Japan's banks plan 33,000 job cuts in digital downsizing

Japan's megabanks are planning to make huge, long-term cuts to their workforces as they increasingly turn to artificial intelligence (AI) and automation in a bid to streamline operations and cut costs.

31 October 2017

News/Innovation

Bank of Ireland backs open ecosystem for innovation

Dave Tighe, head of open enterprise and innovation for Bank of Ireland explains how the bank is nurturing Irish entrepreneurs with partnerships, funds, mentoring and collaborative work spaces.

31 October 2017