Latest Innovation News: Finextra Research

JPMorgan Chase pumped $600m into fintech in 2016

JPMorgan Chase spent around $600 million on emerging fintech solutions last year, says the bank's CEO Jamie Dimon in a letter to shareholders which also mentions an API store and some "interesting developments" in the bill payments department.

05 April 2017

News/Innovation

BNP Paribas to acquire 95% stake in French neo bank Compte-Nickel

BNP Paribas is to acquire a 95% stake in Financière des Paiements Électroniques, which runs innovative French neo-banking startup Compte-Nickel.

04 April 2017

News/Innovation

Global progress towards digital money 'patchy' - Citi

Despite a concerted effort from governments, NGOs and the private sector, the world has made only patchy progress towards digital money readiness, according to a report from Citi and Imperial College London.

04 April 2017

News/Innovation

CommBank hails Albert POS terminal

Commonwealth Bank of Australia says that its decision to move into the point-of-sale hardware market two years ago has proved a success, with more than 75,000 terminals operating across the country.

03 April 2017

News/Innovation

High-tech startups need a different type of banking

Yifat Oron, CEO of Bank Leumi subsidiary LeumiTech says banks need to adopt a hi-tech mentality if they are to effectively engage with the startup ecosystem.

03 April 2017

News/Innovation

Citi takes API developer hub to Hong Kong

Citibank is taking its global API developer hub to Hong Kong as part of a fintech challenge that promises successful participants a share of HK$650,000 in cash awards plus the opportunity to explore a commercial relationship.

31 March 2017

News/Innovation

CaixaBank to open payment innovation hub with global partners

CaixaBank, Global Payments, Samsung, Visa and BNP Paribas-owned Arval are to jointly invest EUR5 million in a Barcelona-based Payment Innovation Hub to confront new frontiers for payments in e-commerce and the Internet of Things.

30 March 2017

News/Innovation

RBC embeds video chat into online advice platform

Royal Bank of Canada is piloting an online financial advice platform that uses live video to connect clients with staffers in real time.

30 March 2017

News/Innovation

Monzo attracts largest-ever crowd for £2.5 million round

Digital challenger bank Monzo has completed its £2.5 million crowdfund raise, attracting a record-breaking 6500 investors to the funding round on Crowdcube.

29 March 2017

News/Innovation

Bahrain joins fintech free-for-all in the Middle East

The Bahrain Economic Development Board is working to position the Kingdom as a fintech powerhouse, signing a co-operation deal with incubator and ecosystem builder Singapore Fintech Consortium and Dubai-based asset management and advisory firm Trucial Investment Partners.

29 March 2017

News/Innovation

FCA TechSprint tackles financial services and mental health

Helping people with mental health problems was on the agenda for developers attending the UK Financial Conduct Authority's latest TechSprint app development challenge earlier this month.

29 March 2017

News/Innovation

Nordea prepares for the robot future with virtual employees

The robots are coming, so says Nordea, which has already 'hired' a host of 'virtual employees' to take on repetitive tasks and is planning to introduce smarter, AI-based colleagues in the near future.

29 March 2017

News/Innovation

Wells Fargo brings cardless transactions to 13,000 ATMs

Wells Fargo customers can now leave their wallets at home and instead use their mobile phones to make cash withdrawals at the bank's 13,000 American ATMs.

27 March 2017

News/Innovation

Bank of Ireland welcomes startups to startlab incubator programme

Bank of Ireland is kicking off the second session of its annual incubator programme to support innovative startups in the West of Ireland.

24 March 2017

News/Innovation

Cameroon gives mandate for mobile commodity exchange

UWIN Corp, a company founded by MIT Media Lab entrepreneur in residence and former Wells Fargo technologist Julius Akinyemi, has been given a mandate by the Cameroon government to implement a mobile-based commodity exchange.

24 March 2017

News/Innovation

Citi Ventures leads $11 million round in AI-based personal finance advocate Clarity Money

Personal finance app Clarity Money has raised a further $11 million in venture capital financing in a Series B round led by RRE Ventures and Citi Ventures.

23 March 2017

News/Innovation

Skandiabanken makes robo-advisory push with stake in Quantfolio

Norwegian digital bank Skandiabanken has acquired a 39.9% stake in local AI and machine learning outfit Quantfolio as part of a push into the provision of robo advisory services for customers of its private savings division.

23 March 2017

News/Innovation

European Commission opens public consultation on fintech

The European Commission is to run a public consultation on fintech as it bids to shape its policy response to the booming market for new innovations in financial services.

23 March 2017

News/Innovation

Open APIs to shake up small business banking market

Chris Gorst, Challenge Prize Lead at Nesta, explains the motivations and ambitions behind the innovation agency's £5 million prize Open API fund, which opens for applications today.

23 March 2017

News/Innovation

Swift Business Forum, Canada - live blog

Welcome to Finextra's live coverage of the Swift Business Forum in Toronto. This year’s conference, on the theme 'building the future', will investigate how the financial industry is adapting in a fast-changing, digital world where new fintech entrants pose an opportunity and a threat, and cyber-crime is a growing problem.

22 March 2017