Innovation

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PSD2: Brits don't trust retailers and social media platforms with bank details

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PSD2: Brits don't trust retailers and social media platforms with bank details

As the revised Payments Service Directive (PSD2) nears, research from Accenture suggests that banks still have a strong trust advantage over third-party providers, with a clear majority of Brits unwilling to share their financial data with the likes of retailers and social media platforms.

Hong Kong prepares for a new era of 'smart banking'

/Innovation

Hong Kong prepares for a new era of 'smart banking'

The governor of Hong Kong's central bank has spelled out a series of up-and-coming reforms - from the introduction of faster payments to open API standards - intended to prepare the territory for a revolution in retail banking services.

Dubai Economy preps digital currency

/Innovation

Dubai Economy preps digital currency

Government-backed development agency Dubai Economy has signed an MoU with UK-based smart ID firm Objet Tech to help create and implement emCash, an encrypted digital currency, which people will be able use to pay for various government and non-government services.

/Innovation

Hong Kong regulator opens sandbox

The Securities and Futures Commission (SFC) today issued a circular announcing the launch of the SFC Regulatory Sandbox to provide a confined regulatory environment for qualified firms (Note 1) to conduct regulated activities utilising financial technologies (Fintech).

Timex embeds bPay contactless chip into watchstrap

/Innovation

Timex embeds bPay contactless chip into watchstrap

Timex is to release a watch capable of making contactless payments by incorporating the Barclaycard bPay chip into the leather watchstrap.

/Innovation

Chilean regulator SBIF joins R3

The Superintendency of Banks and Financial Institutions of Chile (Superintendencia de Bancos e Instituciones Financieras or “SBIF”) recently joined the global network of members of the enterprise software company R3, as a regulatory member, which will allow it to stay up-to-date on the latest advances and implementations of Distributed Ledger Technology (“DLT”) in financial services.

/Innovation

HK accelerator SuperCharger connects with fintech learning platform CFTE

Delivering on its vision to create a global Fintech ecosystem, the Centre for Finance, Technology and Entrepreneurship is pleased to announce a new partnership with SuperCharger, the leading Fintech accelerator in Asia with offices in Hong Kong and Malaysia.

HSBC moves into open banking

/Innovation

HSBC moves into open banking

HSBC is testing a platform that lets customers see all of their accounts, no matter who the provider, on one screen.

Fulfilling KYC and on-boarding obligations

/Innovation

Fulfilling KYC and on-boarding obligations

Caitlin Sinclair, Senior Client & Commercial Strategist, KYC Managed Service, Thomson Reuters, talks about the evolution of KYC, the client, data and regulatory challenges that come with it and how, as a response, there has been a move towards more streamlined regulations to encourage the adoption of more widespread innovative solutions.

/Innovation

Electron wins UK Government Award to advance blockchain in balancing electricity markets

Electron, a London-based energy tech company, today announced that it has been awarded substantial funding from the Government's Energy Entrepreneurs Fund to prove how blockchain will transform the market for balancing the electricity grid.

In the face of consumer scepticism, Worldpay develops SDK for IoT shopping

/Innovation

In the face of consumer scepticism, Worldpay develops SDK for IoT shopping

Worldpay is developing an open source software development kit to bring payments to connected devices in the Internet of Things.

/Innovation

Milan opens 'Fintech District'

The Italian Ministry of Economy and Finance and the City of Milan have today announced the opening of the "Milan Fintech District", the country’s first hub dedicated to the most cutting edge businesses in the financial industry.

/Innovation

ABN Amro melds bricks-and-mortar with online for first 'stream store'

As a world premiere, Dutch cheese shop Kaan’s Kaashandel and ABN AMRO are today launching the world’s first live Stream Store in the Dutch town of Alkmaar.

/Innovation

SuperCharger fintech accelerator unveils 10 finalists

The SuperCharger FinTech Accelerator programme kicked off its 12-week programme today by introducing 10 international start-ups as the finalists for this platform.

Japanese banks plot national digital currency

/Innovation

Japanese banks plot national digital currency

Japanese banks are fighting back against the threat from China's Alibaba with plans to introduce their own digital currency in time for the 2020 Tokyo Olympics.

BBVA uses big data to redraw city maps

/Innovation

BBVA uses big data to redraw city maps

BBVA is using commercial card data to redraw the maps of urban areas based on the purchasing patterns and movements of consumers as they criss-cross the city landscape.

Mastercard and Swarovski launch VR shopping app

/Innovation

Mastercard and Swarovski launch VR shopping app

Mastercard has teamed up with crystal seller Swarovski on a virtual reality app that immerses shoppers in a "home" where they can browse and purchase items using Masterpass.

/Innovation

Abu Dhabi Islamic Bank joins local fintech hub

Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, today marked a new partnership with Abu Dhabi Islamic Bank (ADIB), a leading financial institution, to seek opportunities to collaborate and consult on initiatives to promote the growth and development of the FinTech ecosystem in Abu Dhabi and the UAE.

Monzo tests in-app energy provider switching feature

/Innovation

Monzo tests in-app energy provider switching feature

Monzo is trialling a feature that lets customers change their energy providers through a feed item in the digital bank's app.

ECB ponders bigger liquidity requirements for 'fintech banks'

/Innovation

ECB ponders bigger liquidity requirements for 'fintech banks'

The European Central Bank says that, because they pose unique risks, it may start asking fintech firms seeking banking licenses to hold bigger capital buffers and larger liquidity.

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