Latest Innovation News: Finextra Research

AI creating big winners in finance, but risks emerge

Artificial intelligence is changing the finance industry, with some early big movers already monetising their investments in back-office AI applications. But as this trend widens, new systemic and security risks may be introduced in the financial system, warns a new report from the World Economic Forum and Deloitte.

24 August 2018

Company update/Innovation

Russian central bank to run sandbox workshop

On 29 August, the Bank of Russia’s Corporate University will hold a special workshop dedicated to the functioning of the regulatory sandbox.

23 August 2018

News/Innovation

Latvian fintech entrepreneurs buy Colorado National Bank

The owners of Latvian payments firm Transact Pro have acquired a small Colorado bank, promising to overhaul it for the 21st century.

23 August 2018

News/Innovation

Paytm rolls out AI cloud for India's developers

India-based digital payments firm Paytm has announced the launch of AI Cloud India, a platform designed to help developers, startups and small businesses create their own payment-related apps and services.

21 August 2018

News/Innovation

Thomson Reuters and Singapore fintech group join to fight cybercrime

The Singapore FinTech Association (SFA) and Thomson Reuters are to collaborate on projects to promote the country's fintech industry and strengthen its fight against cybercrime.

21 August 2018

News/Innovation

WeChat Pay launches in Malaysia

WeChat, China's most popular social media app, has launched its digital payments service, WeChat Pay, in Malaysia, marking its first product to be released in Asia outside of China and Hong Kong.

21 August 2018

News/Innovation

BoE exec warns of AI job threat

The chief economist of the Bank of England (BoE) has warned that the rise of artificial intelligence could leave large groups of people "technologically unemployed" unless there was a skills revolution.

21 August 2018

News/Innovation

Cambodia establishes fintech association

Cambodia has become the latest country to launch a national body designed to foster more fintech collaboration with the launch of the Cambodia Fintech Association (CFA).

17 August 2018

News/Innovation

Chinese firms partner for blockchain payment systems play

Two of China’s largest financial services firms have agreed to work towards the development of a blockchain-based mobile payment system in what has been a busy week for China's burgeoning fintech sector and also a signal of the extent of China's blockchain ambitions.

17 August 2018

News/Innovation

China's Fosun invests in Israeli fintech firm The Floor

Israeli fintech innovation centre The Floor has secured a $5 million investment from Chinese conglomerate Fosun International and its financial services subsidiary.

17 August 2018

News/Innovation

Coinbase acquires decentralised ID startup

Coinbase has acquired Distributed Systems in a bid to create a decentralised digital identity platform for crypto-wallet enthusiasts and Web merchants.

16 August 2018

Company update/Innovation

Royal Bank of Scotland welcomes tech pioneers to Edinburgh

RBS’ annual Disrupt conference is today (Thursday 16 August) welcoming a range of world leading tech pioneers, including the founder of the world wide web, Sir Tim Berners-Lee, to Edinburgh to discuss how technological innovation can be harnessed to address social needs.

16 August 2018

Company update/Innovation

Insurance sector to trial blockchain tech for dispute resolution

The insurance sectors’ experiment with Blockchain technology is due to take place to help resolve disputes with car-liability claims in the pre-litigation phase.

15 August 2018

Company update/Innovation

DevOps adoption will accelerate over the next two years in the financial services sector

New research commissioned by managed services provider Claranet has revealed that there is significant appetite for embracing a DevOps approach to services in the financial services sector, with many looking to scale up their efforts as part of a wider application-first philosophy.

15 August 2018

News/Innovation

Big banks join $32 million funding round in Axoni

Goldman Sachs and Nyca Partners have led a $32 million funding round in enterprise blockchain vendor Axoni.

14 August 2018

Finextra TV/Innovation

KYC, AML & Transparency for Crypto-Currencies & ICOs

Conor Coughlan, Global Head of Marketing, Fenergo, discusses the challenges facing institutions, issuers, exchanges, & investors in determining viability & suitability, for investing in crypto-currencies, ICOs and derived offerings so that this new asset class can mature, open up to institutional investors and play a more value adding role in the global economy.

14 August 2018

Company update/Innovation

Manchester bids for fintech status

Manchester is positioned to take a major role in the fintech revolution, which has seen the UK outstrip the US in investment in the last six months, says one of the city’s top lawyers.

13 August 2018

News/Innovation

BofE wants third parties to join 'atomic settlement' debate

The Bank of England has issued a call for interest to third party technology providers and financial institutions in order to explore mechanisms for implementing synchronised settlement in the renewed Real-Time Gross Settlement service.

13 August 2018

Company update/Innovation

Temenos to support Egypt's AUC Venture Lab

The Venture lab at The American University in Cairo (AUC Venture Lab), the leading university-based startup accelerator in Africa and the MENA region, and Temenos (SIX: TEMN), the banking software company, have announced their intention to collaborate and strengthen the fintech ecosystem in Cairo.

13 August 2018

News/Innovation

CBA and World Bank collaborate for DLT bond issuance

Commonwealth Bank of Australia is collaborating with the World Bank on the creation of a Ethereum-based platform for blockchain bond issuance.

10 August 2018