Innovation

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/Innovation

Citi taps into Cornell Tech talent

Citi is teaming up with Cornell University, leasing space at the Ivy League school's engineering campus in order to engage with students and faculty on areas such as blockchain and machine learning.

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The impact of technology on enhanced due diligence

Sylwia Wolos, Head of Proposition, Enhanced Due Diligence, Thomson Reuters, talks about ongoing challenges in enhanced due diligence research, the role of robotic desktop automation, innovative search tools and semantic research techniques, and the prospect for research analysts’ lives to be made easier despite the continuing challenges of data collection.

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Aviva and Founders Factory to support five fintech startups

Aviva and Founders Factory are today announcing the first five startups selected for its fintech programme and the launch of a brand new startup to make social care easier.

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Payments systems must be simpler, faster, lighter, cheaper

Abdeslam Alaoui, Managing Director, HPS Solutions, talks at the HPS PowerCard Users Meeting 2017 in Marrakesh about its key themes, including the reduced need for intermediation in payments, the opportunities and challenges created by innovation in payments, and the future demands on payment systems.

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Sydney fintech hub Stone & Chalk to open up in Melbourne

Sydney fintech hub Stone & Chalk is extending its reach into Victoria, with founding CEO of Fintech Victoria, Alan Tsen, at the helm of its new Melbourne-based operations.

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Belarus National Bank establishes blockchain network

The information network based on the blockchain technology was built up in the Republic of Belarus

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Industry task force sets out US path to faster payments

A task force made up of hundreds of industry players brought together by the Federal Reserve has set out 10 recommendations to make payments in the US faster and more accessible by 2020.

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Credit scoring startup Aire raises $5m; wins Zopa deal

AI-based credit scoring startup Aire has raised $5 million in a Series A funding round and won deals to work with P2P lending pioneer Zopa and the UK arm of Toyota Financial Services.

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Building confidence in ML outcomes key

Jonathan Charley, Deputy General Manager, Financial Services, EMEA, SAP, talks at the SAP Financial Services Forum about the role of machine learning (ML) in digital transformation, the best applications for ML in financial services – including to improve claims payment effectiveness in insurance and for CV scanning in recruitment – and the challenges around change management that need to be addressed.

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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.

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Digital projects fail not on technology, but on culture

Rohit Talwar, Founder, Fast Future, talks about the rise of ecosystems and their impact on transactions, the mindset challenges for banks when it comes to innovation, and the need to break the future up into different timeframes, to keep an eye over the horizon for what’s coming next.

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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.

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Leverage opportunity of MiFID II to transform data management

Olivier Mathurin, Head of Strategic Research, AIM Software, talks about the impact of MiFID II on data management, the challenges firms face in order to ensure accuracy and consistency of information, their need to rely on their data vendors to help them meet the challenging deadline, and the opportunity to repurpose data for multiple regulatory – and other – uses.

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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.

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Data is the key for AI

Parviz Peiravi, CTO, Financial Services Industry, Intel, shares his insights on why relevant data is so important to deliver an artificial intelligence (AI) project successfully, the challenges banks face with collecting this data and how these can prevent them from taking advantage of AI, and the strategies that can be looked at to address these current issues.

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High-tech and high-touch the sweet spot for banking

Suvo Sarkar, Senior Executive Vice President & Group Head – Retail Banking & Wealth Management, Emirates NBD, talks at the SAP Financial Services Forum about how banks can compete successfully if they pick up the pace of innovation, the need to rewire the back end to keep up with front end innovation, the future of robots in financial services, and how in the world of digital, analogue can be the biggest differentiator.

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Insurers must digitalise – or become obsolete

Martin Dietz, Member of the Global Board, ConVista Consulting, and Robert Cummings, VP, Global Head of IBU Insurance at SAP, talk at the SAP Financial Services Forum about the impact of digitalisation on insurance, its evolution from a product to a customer centric business, and the cost and competitive challenges created for incumbent insurers by their legacy systems.

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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.

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Austrade and Commbank co-operate to envourage innovation exchange between Hong Kong and Australia

Australian Trade and Investment Commission (Austrade) and Commonwealth Bank of Australia (CBA) to cooperate in supporting the flow of innovation between Australia and Hong Kong/Greater China.

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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.