Innovation

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/Innovation

AI could increase corporate profitability by 38% - Accenture

Businesses that successfully apply artificial intelligence (AI) could increase profitability by an average of 38 percent by 2035, according to a new report from Accenture (NYSE: ACN).

/Innovation

Japan and Australia ink fintech co-operation agreement

The Japan Financial Services Agency ('JFSA') and Australian Securities and Investments Commission ('ASIC') today announced the completion of a framework for co-operation to promote innovation in financial services in Japan and Australia.

In-app payment messaging startup PayKey raises $6 million

/Innovation

In-app payment messaging startup PayKey raises $6 million

Fresh from a stint at the Fintech Pavillion at this year's EBAday in Dublin, social payments startup PayKey reports that it has secured more than half of its second- round funding target of $10 million.

/Innovation

Isbank moves deeper into the startup ecosystem with 'Workup' programme

İşbank, the largest private bank in Turkey has made a bigger move into the startup ecosystem.

ANZ appoints e-commerce exec to run digital transformation project

/Innovation

ANZ appoints e-commerce exec to run digital transformation project

ANZ has appointed a non-banker with sizeable e-commerce experience at eBay, Virgin Media and Expedia to run its digital transformation strategy.

/Innovation

Turkey's İşbank launches startup programme

İşbank; the largest private bank in Turkey has made a bigger move into the startup ecosystem.

/Innovation

Glance completes deal with cannabis industry payments provider Cannapay

Glance Technolgies Inc. has announced that it has received the second payment for the $1,000,000 licence agreement with Cannapay Financial Inc. which provides services to legal marijuana dispensaries.

ECB preps eurozone-wide instant payments service

/Innovation

ECB preps eurozone-wide instant payments service

The European Central Bank has outlined plans to build an instant payment settlement system that will let people and businesses send money anywhere in the euro area within seconds.

/Innovation

Survey reveals US CFOs' thoughts on future of payments

WEX Inc., a provider of corporate payment solutions, unveiled the results of a third-party survey conducted to gauge public and private company chief financial officers’ views of the payments processing landscape.

DBS fintech accelerator switches to 'always on' mode

/Innovation

DBS fintech accelerator switches to 'always on' mode

Hong Kong's DBS Accelerator, run by DBS Bank and early-stage VC Nest, is switching the format of the programme to a rolling intake that will see it host new startups throughout the year.

/Innovation

FinTech Australia releases fintech ecosystem map

Australia’s fintech industry body today released its first member ecosystem map, which helps build domestic and international understanding of the nation’s fintech strengths and diversity, particularly in wealth generation and lending.

Asia still top dog for payments innovation but Europe gaining ground

/Innovation

Asia still top dog for payments innovation but Europe gaining ground

Asia remains home to most payments innovation but Europe is making a charge, leapfrogging Africa, North America and Latin America, according to a survey of industry execs which also calls out distributed ledger technology as over-hyped.

/Innovation

DFS Lab invests $250,000 in four African fintechs

Digital Financial Services Lab (DFS Lab) today announced it would invest $250,000 in four separate fintech startups that are building products that help low-income consumers in developing markets. Inclusive (based in Ghana), Pula (based in Kenya), Pezesha, (based in Kenya), and Teller, (based in the United States), were each selected for financing after presenting their products at DFS Lab's Fintech BootCamp in Sri Lanka earlier this year.

/Innovation

Razer takes minority stake in Malaysian e-payment enabler to push virtual gaming currency

Razer, a global lifestyle brand for gamers, has announced a strategic partnership with MOL AccessPortal, a leading e-payment enabler in Asia. Along with the partnership, Razer has taken a 19.9% minority stake in the Malaysian startup.

/Innovation

Faster Payments launches Trust Service to lower secure access costs

Faster Payments, the UK’s 24/7 real-time payment service, has launched a new Trust Service that will potentially cut the cost for challenger banks and others of obtaining the services that are essential to securely access the UK’s payments systems.

Visa launches $100,000 fintech challenge for Middle East and North Africa

/Innovation

Visa launches $100,000 fintech challenge for Middle East and North Africa

Visa has announced that its Everywhere Initiative, an innovation program designed to encourage the development of the “next big thing” in payments, will expand into the Middle East and North Africa (MENA) region.

Take a strategic approach to Open banking

/Innovation

Take a strategic approach to Open banking

Damian Richardson, Head of Innovation, Payments, NatWest, talks about open banking and its potential to challenge and change the way banks offer services and products to customers. Increasingly banks and third-parties will collaborate to offer new personalised services to their customers through a network of APIs and a culture of open banking. This will take time to adopt but banks should take the strategic approach now.

Bank API platform TrueLayer secures $3m series A funding

/Innovation

Bank API platform TrueLayer secures $3m series A funding

UK startup TrueLayer, a fintech developer platform that provides access to bank APIs, has secured $3 million in series A funding to pursue opportunities created by PSD2.

Swift offers €200,000 for two fintechs to leverage gpi platform

/Innovation

Swift offers €200,000 for two fintechs to leverage gpi platform

Swift has launched an Industry Challenge to find two winning fintechs who will be granted €100,000 to further develop new overlay services that leverage its Swift global payments innovation (gpi) platform.

/Innovation

Rabobank selects Finastra payment services hub for cross-border payments

Finastra today announced that Rabobank has selected the global payment services hub from Finastra (previously D+H) to centralize cross-border payments.

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