Innovation

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Avoiding artificial stupidity

/ai

Avoiding artificial stupidity

While most financial applications of artificial intelligence have been in the customer service space, there are other areas that banks are working with to improve through implementation of innovation technology.

Fintech founders pessimistic about UK's post-Brexit prospects

/Innovation

Fintech founders pessimistic about UK's post-Brexit prospects

As Brexit looms, UK fintech founders are pessimistic about the country's ability to remain a world leader in the field, according to a survey from the Digital Finance Forum.

/startups

FinTech Abu Dhabi plans worldwide tour

FinTech Abu Dhabi, MENA’s leading FinTech festival, hosted by Abu Dhabi Global Market (ADGM),the award-winning international financial centre, is pleased to announce that its global FinTech tour will be reaching even more cities ahead of the main event in Abu Dhabi in October 2019.

South African Reserve Bank to run fintech demo day

/Innovation

South African Reserve Bank to run fintech demo day

The South African Reserve Bank is calling on fintech firms to pitch their products to an audience of central bankers, regulators and local institutions at a demo day in October.

CommBank tests blockchain-based marketplace for biodiversity tokens

/Innovation

CommBank tests blockchain-based marketplace for biodiversity tokens

Commonwealth Bank of Australia has unveiled a blockchain-based digital marketplace prototype where users can trade government biodiversity credits.

Westpac sets aside $50,000 for 2019 Innovation Challenge winner

/Innovation

Westpac sets aside $50,000 for 2019 Innovation Challenge winner

Westpac has set up a $50,000 prize pot to tempt startups to enter its 2019 Innovation Challenge, which this year is focusing on a new wave of data-driven initiatives based on the recent passage of Consumer Data Right legislation.

Irish banking federation sets up cross-sector Fintech Foresight Group

/Innovation

Irish banking federation sets up cross-sector Fintech Foresight Group

Banking & Payments Federation Ireland (BPFI) has established a Fintech Foresight Group to harness new technical developments from the startup ecosystem and help to inform policy under the Government’s financial services strategy, Ireland for Finance.

/startups

Emirates NBD certifies first five fintech sandbox graduates

Emirates NBD, a leading bank in the region, together with the DIFC FinTech Hive, the largest financial technology accelerator in the Middle East, Africa and South Asia (MEASA), are the first in the region to certify FinTech startups who have successfully used the Emirates NBD’s API (Application Programming Interface) Sandbox to create and demonstrate working innovative financial solutions.

/Innovation

Oracle taps into Open Banking for digital mortgage origination

Now available in the UK, Oracle Banking Enterprise Originations solution will help banks and building societies transform residential, buy-to-let and SME mortgage origination. Using design principles of open architecture, progressive data decisioning and complete process automation the solution will enable lenders to process mortgage applications far more efficiently by utilising best-in-class digital technologies.

Singapore fintech employment remains strong with minimal talent shortage

/startups

Singapore fintech employment remains strong with minimal talent shortage

According to a survey put together by the Singapore FinTech Association (SFA) and PwC Singapore, 42% of fintech firms in Singapore have over 30 employees and a further 31%, between 11 and 30 employees.

/Innovation

11:FS welcomes ex BCG Ventures and Apple head of talent

11:FS​, the challenger firm defining and building digitally  native financial services through technology, product and design expertise, today  announced Michael Curds has joined the firm as Head of Talent.

/security

DSB reveals appetite for data and cybersecurity analysis

The Derivatives Service Bureau (DSB), founded by the Association of National Numbering Agencies (ANNA) to facilitate the allocation and maintenance of International Securities Identification Numbers (ISINs), Classification of Financial Instrument codes (CFIs) and Financial Instrument Short Names (FISNs), for OTC derivatives, has today announced the results of their second 2019 industry consultation, revealing a significant appetite for further analysis on functionality that may be helpful in delivering improved data quality, standardization and automation as well as further strengthening the DSB’s cybersecurity processes and governance.

Dissecting AI hype and FOMO

/ai

Dissecting AI hype and FOMO

While artificial intelligence is transforming several industries, the financial sector has a lot to learn from specific case studies in non-banking areas such as health, travel and retail. To start at the beginning, despite the term AI having been bandied about with a number of different definitions, the actual definition is simple: technology that appears intelligent.

Funding Circle hits $10bn lending milestone

/startups

Funding Circle hits $10bn lending milestone

Funding Circle, the listed peer-to-peer lender, has reached a cumulative global lending milestone of over $10 billion.

/regulation

CIB Limited awarded banking licence

CIB Limited, part of the Capital International Group, an Isle of Man headquartered company has been awarded a provisional class 1(2) banking licence. The licence is the first class 1(2) to be issued on the Isle of Man under the Alternative Banking Regime.

/devops

Neueda and Levyx increase data processing capacity for Python users

Capital Markets technology specialist Neueda has partnered with Levyx Inc, a leading big data system software provider, to vastly increase data processing capacity for the Python community.

Global fintech investment falls sharply

/Innovation

Global fintech investment falls sharply

Global investment in fintech ventures fell sharply in the first half of 2019, as fundraising and deal activity in China ground to a halt, partially offsetting strong gains in the US, UK and several other European countries, according to Accenture analysis of data from CB Insights.

/Innovation

Wirecard showcases prototype 'Grab and Go' store

Wirecard, the global innovation leader for digital financial technology, continues to break new ground in the future of shopping with its prototype of an unmanned store.

Portuguese banks back Open API platform

/devops

Portuguese banks back Open API platform

Portugal has taken a major step towards Open Banking after local payments processor Sibs launched an API platform that brings together 24 financial institutions.

/regulation

Reserve Bank of India publishes framework for regulatory sandbox

The Reserve Bank of India today placed on its website the final ‘Enabling Framework for Regulatory Sandbox’.

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