Innovation

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/ai

AI and enhancing the human element in financial services

At SIBOS 2019, industry experts will be discussing how the financial services sector is in the vanguard of deploying AI on a global scale and whether the technology will be a transformative force or has the potential to act as an existential threat.

/Innovation

Chinese official voices digital coin plans

More details have emerged around China's plans to issue its own digital coin following a lecture given by a senior official at the central bank.

/Innovation

OneConnect and Singapore Management University sign blockchain MoU

OneConnect Financial Technology Co. Ltd. (OneConnect), an associate company of China’s insurance giant and Fortune Top 29 Company Ping An Group, and Singapore Management University (SMU) today signed a Memorandum of Understanding (MOU) to jointly conduct research and develop a Proof of Concept (POC) on the potential of quantum computing to augment blockchain technology.

/Innovation

Michigan Ross announces academic fintech initiative

The University of Michigan Ross School of Business is launching a new program in partnership with Chicago-based PEAK6 Investments to prepare students for successful careers in the rapidly growing fintech sector. The primary goal of the Michigan Ross FinTech Initiative is to produce a robust pipeline of top talent well-versed in technology and finance.

/Innovation

Goldman Sachs tech head to step down

The most senior technology executive at Wall Street firm Goldman Sachs is reported to be stepping down amid a clear out of senior partners, raising questions about the direction of Goldman's technology strategy

/Innovation

SIA to bring digital payments to Venice waterways

SIA and AVM Holding (Azienda Veneziana della Mobilità – the Venice public transport company) have signed an agreement to create an innovative digital platform that will allow residents and tourists to buy tickets using payment cards and smartphones, also in contactless mode, on board the “vaporetto” boats where the crew will be equipped with 650 Android SmartPOS terminals.

/Innovation

Swift publishes new API standard

Banking cooperative Swift has published a new API standard for the pre-authorisation of funds in its latest bid to bring more efficiency to open banking in Europe.

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Tech Nation adds 23 scaleups to its network

Tech Nation, the UK’s leading network for ambitious tech entrepreneurs, has today revealed the 23 scaleups accepted on to its 2019 Fintech growth programme.

/inclusion

Accion raises funds to invest in seed stage financial inclusion fintech startups

Non-profit group Accion International is boosting its investment initiative for seed stage fintech startups working on financial inclusion, raising $23 million from investors and adding another $10 million from its own pocket.

/Innovation

North east UK prepares for fintech conference

Following successful conferences in Manchester and Leeds this year, FinTech North has announced its first full-day conference in the North East. Hosted at the Sage headquarters in Newcastle, the free-to-attend event will take place on 25 September 2019.

/Innovation

B-North selects Mambu for core banking

B-North, the Manchester-based firm building an SME lending bank for the UK, has selected Mambu, the SaaS banking engine, to provide its core banking technology.

/ai

Filtering the ethics of AI

As decision-making factors using AI become more accepted, pure economics might not align with the softer strategies of a bank. Many financial institutions are questioning how artificial intelligence must be governed within an organisation and how it can be taught to align with a bank’s brand and ethos, but without influence from human judgement.

/Innovation

Insurtech funding surpassed $3bn in 2018

Investment in the global insurtech market grew by 84% in 2018, topping the $3bn mark.

/cloud

What are the benefits of being born in the cloud?

An increasing number of challenger banks, neobanks and digital offshoots are being born in the cloud and the technology is now being used by traditional banks and new players alike for all IT needs. Banks that are born in the cloud are at an advantage because legacy players that are in the process of migrating to the cloud are struggling with application modernisation, data centralisation and security.

/Innovation

Starling opens new UK office

Online bank Starling is today cutting the ribbon on its new office in UK town Southampton as it looks to bolster its operational resources.

/Innovation

Revolut to open ops centre in Portugal

Challenger Revolut is planning to open a customer service centre in Portugal that will employ 400 people.

/Innovation

Crypto platform Eligma secures €4m funding

The Eligma company from Slovenia has received plenty of international attention on the blockchain scene.

/Innovation

RMI AlphaCode splashes cash on three fintechs

AlphaCode, Rand Merchant Investment Holdings (RMI)’s incubation, acceleration and investment vehicle has awarded R23 million supplier development loans to three fintech startups, Zande Africa, Bright On Capital and Livestock Wealth.

/Innovation

AlgoTrader and Avaloq team up for digital asset management push

Two leading Fintech companies join forces to solve complex problems encountered by the financial industry through a wide range of high-quality services in building a global digital asset management ecosystem.

/Innovation

Hedge fund manager plans $1bn crypto fund

A business owned by Alan Howard, the billionaire founder of hedge fund Brevan Howard, is reportedly planning to launch a new $1bn venture focused on cryptocurrency hedge funds.