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News/Innovation
The Monetary Authority of Singapore (MAS) is working with local polytechnics to update their banking and IT courses to equip graduates with the skills necessary to join the burgeoning fintech sector.
03 October 2016
James McMorrow, head of payment strategy, Lloyds Bank, believes it is time for financial institutions to choose their strategic path to PSD2 compliance – and to embrace the benefits of open banking.
30 September 2016
As part of its effort to become a "technology company", Deutsche Bank has opened a digital factory in Frankfurt to house 400 staffers - as well as fintech startups - working on products and services for the mobile age.
29 September 2016
IBM is to acquire risk management and regulatory compliance consulting firm Promontory Capital and create a new subsidiary, Watson Financial Services, in which it will use artificial intelligence technology to keep pace with the rapidly changing financial reporting landscape.
If banks embrace PSD2 as a driver for strategic investment in open banking, they could leverage this mandatory change for technology and business benefit, finds new research from Finextra and Axway.
French regulator are speeding up licensing procedures and providing an English-speaking contact for British financial institutions and fintech firms looking to relocate their business in the event of a hard exit from the European Union.
The Securities and Exchange Commission is to host a public forum to discuss fintech innovation in the financial services industry.
Distributed ledger technology is set to move out of the test environment and into the wild next year, with nearly two thirds of banks expecting to be in production with full-scale, commercial blockchain projects by 2019, according to research from IBM.
Mastercard is opening up to developers through the launch of a single gateway to a host of Application Programming Interfaces (APIs) covering payments, data, security and 'new and experimental' areas such as virtual reality.
28 September 2016
BBVA is creating an innovation hub in Dallas and stocking it with 60 experts in data analytics, software engineering, and user experience and design, to co-ordinate the bank's global approach to improved customer interactions across all channels.
The Startupbootcamp accelerator network is widening its fintech programme, opening an outpost in Mumbai as it seeks out Indian startups bidding to transform the financial services industry.
Credit Suisse and the R3 blockchain consortium are driving a new initiative to apply distributed ledger technology to overhaul antiquated and costly manual intervention in the $3 trillion global syndicated loans market.
Newly-created ATM giant Diebold Nixdorf is embarking on a massive online brainstorming effort, inviting people from outside the financial services industry to help it come up with new products and services for the digital age.
London, Singapore, New York, Hong Kong and Silicon valley have been ranked as the world's top fintech hubs, although specialist niches are emerging in Belgium, Ireland, and Shanghai, according a report by Deloitte.
27 September 2016
Multi-bank foreign exchange counterparty CLS is to build a payments netting service for trades settled outside the core membership using distributed ledger technology based on Hyperledger Fabric.
Idea Bank, a Polish lender focussed on small businesses, is boasting that the free office facilities that it provides entrepreneurs have proved so popular that it is being forced to close them to non-customers.
BNP Paribas says it has entered 'co-development mode' with clients to pilot a number of blockchain applications for transaction banking, after embarking on a collaborative process during its ‘Blockchain Bizhackathon’ earlier this year.
26 September 2016
PayPal is teaming up with electronics manufacturer Lenovo and chip maker Intel to let users authenticate payments on their PCs with a fingerprint.
IBM and China UnioPpay have demonstrated a blockchain prototype for loyalty bonus points exchange among multiple banks.
23 September 2016
The Innovation Engineering team at Royal Bank of Scotland has built a Clearing and Settlement Mechanism (CSM) based on the Ethereum distributed ledger and smart contract platform.
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