Latest Innovation News: Finextra Research

Machines could take over 30% of bank jobs: McKinsey

Robots, artificial intelligence and other forms of automation could take over almost a third of investment banking jobs within just a few years, according to a recent report from consultant McKinsey.

21 July 2017

News/Innovation

Acting OCC head Noreika stirs fintech charter debate

The new head of the US Office of the Comptroller of the Currency (OCC) has come out fighting in defence of his predecessor's plans to grant special-purpose bank charters to fintech firms, defying pending litigation from state regulators.

20 July 2017

News/Innovation

The eyes have it: TSB brings iris scanning to mobile app

TSB is claiming a European first by introducing iris scanning to its mobile banking app, eradicating the need to remember lengthy IDs or passwords.

20 July 2017

News/Innovation

OCBC Bank's Open Vault paves the way for startup pilots

Singapore's OCBC Bank has partnered with two graduates from its startup accelerator programme to apply artificial intelligence technology to counter money laundering.

19 July 2017

News/Innovation

Twenty firms to compete for £5 million Open API prize

UK innovation agency Nesta has handpicked twenty organisations selected to receive a slice of a £5 million prize fund to inspire the creation of new products and services using Open Banking APIs.

19 July 2017

News/Innovation

Borsa Italiana partners IBM on securities data blockchain system for SMEs

London Stock Exchange-owned Borsa Italiana and IBM are using blockchain technology to digitise the issuance of securities for SMEs in Europe.

19 July 2017

News/Innovation

The next round of bank transformation projects should be 'bionic'

Banks that pull off the trick of augmenting human interactions with smart digital tools can expect to generate increased revenue while cutting costs significantly, according to a new study of global banking markets by the Boston Consulting Group.

17 July 2017

News/Innovation

Credit Suisse promises 15-minute online sign-up for new clients

Credit Suisse is offering a four-step digital onboarding service for new clients, promising a paperless, 15-minute sign-up process.

17 July 2017

News/Innovation

German fintech factory FinLeap raises EUR39 million

FinLeap, the startup platform behind Germany's solarisBank, has secured EUR39 million in equity capital to support its ongoing fintech incubation programme.

17 July 2017

News/Innovation

Sumitomo Mitsui teams up with NYC accelerator

Japan's Sumitomo Mitsui Banking Corporation is looking to tap into America's startup scene through a partnership with New York-based Entrepreneurs Roundtable Accelerator (ERA).

13 July 2017

News/Innovation

NSW Government ploughs $35 million into creation of new Sydney startup hub

Sydney is to get a new startup hub, creating up to 6,500 new jobs, thanks to a $35 million investment from the NSW Government.

13 July 2017

News/Innovation

Santander InnoVentures steps up fintech spending

Santander InnoVentures, the venture capital fund of Santander Group, is moving ever deeper into the fintech ecosystem with strategic investments in the UK startups Pixoneye and Curve and US based Gridspace.

12 July 2017

News/Innovation

Seismic Foundry sizes up fintech startups in capital markets

Co-founded by five seasoned veterans of the capital markets space, Seismic Foundry is jumping aboard the fintech funding train, capitalising on tax-efficient Seed Enterprise Investment Schemes (SEIS) and EIS to attract investment capital for promising fledgeling startups.

12 July 2017

News/Innovation

BofE says Ripple PoC reinforces desire for DLT compatibility

The Bank of England says that a distributed ledger technology proof-of-concept with Ripple has reinforced its intention to make a new real-time gross settlement (RTGS) platform compatible with DLT usage in the private sector.

10 July 2017

News/Innovation

Nordea to deploy AI to speed up customer service

Nordea is to introduce artificial intelligence technology to analyse customer text queries and forward the correspondence to the right department.

07 July 2017

News/Innovation

Thomson Reuters launches startup incubator

Thomson Reuters is opening an incubator in Switzerland, giving startups working in areas such as big data, analytics, AI and distributed ledgers access to its famed data and content sets.

06 July 2017

News/Innovation

Brown Brothers Harriman taps CIO to lead fintech biz

America's oldest private bank, Brown Brothers Harriman (BBH), is looking to the future by appointing CIO Michael McGovern to a newly created role overseeing its fintech business.

06 July 2017

News/Innovation

How we convinced Peter Thiel's fund to invest in Qonto

Alex Prot, co-founder and CEO of French SME banking startup Qonto, shares the behind the scenes story of the highs and lows of getting a new business venture funded and off-the ground.

05 July 2017

News/Innovation

Monzo pays a high price for popularity as losses widen to £6.7 million

App-only challenger bank Monzo is looking to move more customers to its forthcoming current account and away from its loss-making pre-paid card service after racking up a pre-tax annual loss of £6.7 million.

05 July 2017

News/Innovation

SAP Financial Services Forum, London - Day 2 live blog

Welcome to Finextra's live coverage from Day 2 of the SAP Financial Services Forum in London. The theme for this event is 'winning in the digital moment'. The agenda will examine how technologies such as AI, machine learning, analytics, blockchain, open APIs and the cloud can be best leveraged to deliver truly digitised financial services.

05 July 2017