Innovation

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/startups

Bank of America signs on as founding corporate sponsor of SciTech Scity Innovation Campus

Liberty Science Center (LSC) announced today that Bank of America has signed on as a Founding Corporate Sponsor of SciTech Scity, LSC’s planned 30-acre innovation campus that will launch and grow dozens of world-changing science and technology companies and reimagine K-12 science education.

/startups

Wells Fargo Innovation Icubator ramps up funding for cleantech startups

The Wells Fargo Innovation Incubator (IN2) today announced that it has accelerated its awards program to provide $900,000 to help cleantech and sustainable agriculture startups retain staff and stay on track to bring their potentially game-changing solutions to market in the face of impacts due to COVID-19.

/devops

Kings College London scoops financial app competition prize

The Investing and Saving Alliance (TISA), the UK’s cross-industry financial services membership body, has announced the winners of its Savings Culture Marketing Competition for university students, a pilot initiative aimed at strengthening the UK’s savings culture through technology-driven solutions.

/startups

Visa boasts of fintech Fast Track success

Fintechs are a central part of the global payments ecosystem, and amidst COVID-19 have launched further into the spotlight, reporting sizable upticks in the usage of their apps1, as more people manage their money from their personal devices.

/retail

Bank of America funds data analytics lab at Converse College

Bank of America has awarded $145,000 to Converse College in support of the college’s new data analytics program.

/retail

Thought Machine’s creative arm, Cauldron, partners with design studio ustwo

Thought Machine’s internal design studio, Cauldron, has announced a partnership with ustwo to combine their individual strengths and experience and bring them to bear in financial services and banking innovation.

/payments

Contactless payment ring provider K Wearables migrates to Moorwand for issuing services

Moorwand, a BIN sponsor, issuer and acquirer that transforms compliance into an enabler of innovation, today announced that it has been selected by wearables payment company, K Wearables, to provide issuing, BIN Sponsorship and digital banking services for its innovative contactless payment ring.

G20 TechSprint Initiative invites firm to tackle regulatory challenges

/regulation

G20 TechSprint Initiative invites firm to tackle regulatory challenges

The Saudi G20 Presidency and the Bank for International Settlements (BIS) Innovation Hub are launching a virtual hackathon-style competition to find new technological ways to tackle financial regulatory compliance and supervision challenges.

Trust remains integral to acceptance of AI by UK consumers

/security

Trust remains integral to acceptance of AI by UK consumers

In response to the European Commission’s strategy for data released in February, Vikram Khurana, senior associate, Bristows LLC argues that “The EC is saying trust needs to be the bedrock of AI. If the industry can tackle this issue and build trustworthy AI systems, AI is more likely to be accepted and taken up by businesses and individuals.”

FIS sets up $150 million fintech venture fund

/startups

FIS sets up $150 million fintech venture fund

Financial technology company FIS has set up a venture arm with a goal of investing up to $150 million in promising fintech startups over the next three years.

Sustainable Finance Live to go virtual

/sustainable

Sustainable Finance Live to go virtual

Sustainable Finance Live, the series of workshops hosted by Finextra Research and Responsible Risk, is becoming a virtual event in response to the Coronavirus pandemic.

Singapore central bank backs Tradeteq quantum credit scoring project

/wholesale

Singapore central bank backs Tradeteq quantum credit scoring project

London-based Tradeteq has received funding from Singapore's central bank on a project to develop quantum computing-based credit scoring methods for companies.

Pan-EU hackathon calls on fintechs to tackle Covid-19

/devops

Pan-EU hackathon calls on fintechs to tackle Covid-19

The European Commission is to host a virtual pan-European hackathon this weekend in a bid to develop solutions to coronavirus-related challenges.

CaixaBank steps up quantum computing trials

/retail

CaixaBank steps up quantum computing trials

CaixaBank is stepping up its experimental application of quantum computing in financial services, developing a machine learning algorithm to classify customers according to their credit risk.

Fintech accelerator Finance Forward extends deadline to startups working on Covid-19

/startups

Fintech accelerator Finance Forward extends deadline to startups working on Covid-19

Finance Forward, a fintech accelerator run by Village Capital, MetLife Foundation and PayPal, has extended the deadline for its European programme to accommodate startups working on Covid-19 applications.

Second-hand clothing meets wearable payments

/payments

Second-hand clothing meets wearable payments

Sustainable payment wearables will be created when tech and recycled materials meet in a project between Sweden's Fidesmo and Eskilstuna Folk High School this Spring.

Standard Chartered challenges startups to deliver an automated call centre service

/startups

Standard Chartered challenges startups to deliver an automated call centre service

Standard Chartered has put out a call to tender to fintech startups for a machine learning prototype capable of reducing the handling time for both inbound and outbound traffic through its call centres

ING invests in natural language proccesor Eigen Technologies

/Innovation

ING invests in natural language proccesor Eigen Technologies

ING has contributed EUR4.5 million to a $42 million funding round in natural language processing vendor Eigen Technologies.

FS industry transitioning to banking-as-a-platform model - Barclays research

/Innovation

FS industry transitioning to banking-as-a-platform model - Barclays research

The era of competition between banks and fintechs is over, with connectivity now seen as the key to a new financial services ecosystem where the 'banking-as-a-platform' model dominates, according to a report from Barclays.

Fintech jobs market show healthy upward trend

/Innovation

Fintech jobs market show healthy upward trend

Despite a year of political turbulence, 2019 saw a continued growth in demand for IT professionals in the UK fintech sector – with a 5.9% yearly rise in vacancies.

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