Latest Innovation News: Finextra Research

Singapore's OCBC establishes dedicated AI Lab

Singapore's OCBC Bank is to spend $10 million over the next three years to develop inhouse expertise in artificial intelligence with the creation of a dedicated AI division.

14 March 2018

Company update/Innovation

IMF's Christine Lagarde calls for crackdown on crypto criminals

The same reason crypto-assets like Bitcoin are so appealing is also what makes them dangerous.

13 March 2018

Finextra TV/Innovation

AI augmenting compliance processes

Jorg Schaper, Global Head of Proposition, KYC & Future Screening Platform, Thomson Reuters, talks about the main challenges organisations are facing with compliance screening, the impact of artificial intelligence and machine learning on KYC and AML compliance processes and how regulation and technology will evolve in the coming years.

13 March 2018

News/Innovation

BIS warns central banks on digital currency issuance

Central banks should steer clear of developing their own digital currencies for issue to the general public the Bank for International Settlements has warned.

13 March 2018

Finextra TV/Innovation

Using Facebook Messenger to help small businesses

Jorn Lambert, Executive Vice President, Digital solutions at Mastercard International, talks at Mobile World Congress about the launch of the Masterpass QR bot for Messenger to enable Nigerian businesses to set up digital money accounts and accept QR payments, the process merchants need to go through to set up a new account and what benefits they can expect to see such as analytics and using the product for marketing.

12 March 2018

Company update/Innovation

Japan Government opens talks on Open Banking

With a rapidly changing, quality business environment, the Government of Japan has launched a series of events across Europe to inform and promote active discussions around the future opportunities in Japan's lucrative and intelligent market.

12 March 2018

Company update/Innovation

European Commission wants to construct an ethics framework for AI

The Commission is setting up a group on artificial intelligence to gather expert input and rally a broad alliance of diverse stakeholders.

12 March 2018

Company update/Innovation

Addleshaw Goddards unveils six finalists for Elevate fintech programme

Addleshaw Goddard has today announced the six FinTechs who have been selected for its 2018 'AG Elevate' programme.

12 March 2018

Company update/Innovation

MetLife launches third global innovation challenge

MetLife, today launched “collab 3.0 EMEA,” a global open innovation platform inviting entrepreneurs and insurtechs to scale their business with MetLife, while solving some of the insurer’s biggest innovation challenges across its business in Europe, the Middle East and Africa.

12 March 2018

News/Innovation

EBA chair unconvinced on cryptocurrency regulation; talks up 'fintech roadmap'

The head of the European Banking Authority says that he has "yet to be convinced" that cryptocurrencies should come under the full scope of regulation.

09 March 2018

Company update/Innovation

Lattice80 relocates global HQ to London

Global Fintech Hub LATTICE80 strategically relocates its global headquarters from Singapore to London.

09 March 2018

Company update/Innovation

Hong Kong and Poland sign fintech pact

The Hong Kong Monetary Authority (HKMA) and the Polish Financial Supervision Authority (KNF) exchanged a Memorandum of Understanding (MoU) today (9 March 2018) to enhance fintech collaboration between the two authorities, with a view to strengthening co-operation between the two places in promoting innovative financial services.

09 March 2018

News/Innovation

Bank of Amazon could woo 70 million US customers within five years

Bain and Co, estimates that a banking service from Amazon could swell to more than 70 million US customer accounts within five years, equalling the size of the country's third largest bank, Wells Fargo.

09 March 2018

Company update/Innovation

Fintech Australia starts recruitment for new CEO as Danielle Szetho announces resignation

After nearly two years driving the rapid growth of Australia’s fintech industry, Danielle Szetho today announced her resignation as CEO of FinTech Australia.

09 March 2018

News/Innovation

Adoption of DLT presents significant operational challenges for Swift member banks

Banking co-operative Swift has published the final results from its DLT proof of concept for Nostro reconciliation. While the PoC proved a resounding success, just don't expect a working solution anytime soon.

08 March 2018

Company update/Innovation

Pushfor and Xtremepush take the prizes at the Dublin Innovation Jam

Temenos (SIX: TEMN), the banking software company, announces that Pushfor and Xtremepush won the public and judges’ vote, respectively, at its first ever Dublin Innovation Jam.

08 March 2018

News/Innovation

European Commission sets out 23-step 'Fintech Action Plan'

The European Commission has set out details of a 23-step 'Fintech Action Plan' to promote the digital transformation of the financial services sector, including the establishment of an EU Fintech Laboratory, the creation of a best-practices blueprint for regulatory sandboxes and substantial crowdfunding reforms.

08 March 2018

News/Innovation

Babb raises $20m for blockchain banking platform

Having just raised $20 million in a sold-out token sale, British blockchain-based banking platform Babb has set its sights on opening its first bank accounts before the end of the year.

08 March 2018

Company update/Innovation

NSW Government backs Oz fintech awards

Australia’s 600+ fintech companies have been given the opportunity to get official recognition for their success, with entries opening for Australia’s only industry-backed awards.

07 March 2018

Company update/Innovation

DIT to take 15 fintech firms on trade mission to New York

The Department for International Trade (DIT) today announced that after a most competitive recruitment process, fifteen UK delegates have been selected to join the second annual UK trade mission to Empire FinTech Week in New York City.

06 March 2018