Next Gen Banking

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Finextra's year in review

/Next Gen Banking

Finextra's year in review

With 2019 drawing to a close, we take a look back at our most popular news items, videos and community engagement activities over the course of the past year.

P27 Momentum: 5 key takeaways

/payments

P27 Momentum: 5 key takeaways

Payments professionals came together at the Grand Hôtel in Stockholm this week for NextGen Nordics: P27 Momentum. While Sweden has become a pioneer for the cashless society, as the first real-time and batch multi-currency platform, P27 is expected to revolutionise the future of payments. Here are the five key takeaways from the event ahead of the launch in early 2021.

Standardised data reporting is the lynchpin for future of sustainable finance

/sustainable

Standardised data reporting is the lynchpin for future of sustainable finance

In a recent survey by State Street Global Advisors, 52% of European investors cited regulation as the key driver toward ESG adoption. Yet, despite attempts to introduce regulatory requirements, a lack of standardisation in reporting obligations is proving a significant challenge towards achieving meaningful progress.

Trust in Open Banking: Negotiating data liability between banks and TPPs

/regulation

Trust in Open Banking: Negotiating data liability between banks and TPPs

The breadth and complexity of Open Banking systems involve a web of players interconnected by the core need to access data. Used as the tool by which financial institutions and third parties deliver innovative financial products, the data required is highly personal by nature and brings with it a myriad of challenges on the part of institutions trying to capitalise its on value without taking on too much risk.

Plum raises another $3m and launches on Android

/Next Gen Banking

Plum raises another $3m and launches on Android

Closing a second round of funding with a $3 million investment, AI powered smart savings app Plum now boasts a total lifetime investment of $9.3 million.

Will trust woes undermine Open Banking under PSD2?

/Next Gen Banking

Will trust woes undermine Open Banking under PSD2?

In a roundtable discussion held Wednesday in London hosted by digital payments firm PPRO, industry leaders met to explore the impact PSD2 has imposed on key players in Open Banking and the changes needed to achieve the regulation’s objective in 2020 and beyond.

Modulr invests £20m in Scottish fintech

/Next Gen Banking

Modulr invests £20m in Scottish fintech

SME payments outfit Modulr is to invest the best part of £20m in the Scottish fintech industry, in the process creating 53 new jobs and nurturing new technology talent.

Fintechs must ‘sell simplicity’ to carve out competitive advantage

/Next Gen Banking

Fintechs must ‘sell simplicity’ to carve out competitive advantage

Where selling trust with a brand was once the key point of distinction for effective marketing in the fintech space, streamlining user experience through product simplicity now leads the way in superior branding strategy.

If you can’t beat them, join them: Fintech partnerships are here to stay

/Next Gen Banking

If you can’t beat them, join them: Fintech partnerships are here to stay

With commercial models, value chains and M&A activity emerging as a leading theme of Money 20/20’s upcoming conference in Las Vegas, we explore how financial institutions are leveraging the opportunity to collaborate with incumbents and disruptors across the space.

AI will drive productivity in the payments industry

/payments

AI will drive productivity in the payments industry

The payments industry is increasingly being exposed to the technological transformation that is occurring outside of the financial services sector. But is the space ready to drive productivity in payments with artificial intelligence?

New fintech envoy appointed for Northern Ireland

/Next Gen Banking

New fintech envoy appointed for Northern Ireland

A top executive of a data analytics company has been hired as the UK government's new fintech envoy for Northern Ireland

Ambitious P27 project grows team for next phase

/Next Gen Banking

Ambitious P27 project grows team for next phase

Nordic bank-backed P27 is undertaking a recruitment drive as it puts together the building blocks for a proposed 2021 go-live of its real-time, cross-border payment project.

Starling opens new UK office

/Next Gen Banking

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.

Revolut to open ops centre in Portugal

/Next Gen Banking

Revolut to open ops centre in Portugal

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

Singapore to accept first digital bank applications

/Next Gen Banking

Singapore to accept first digital bank applications

Two months after announcing plans to issue digital banking licences, the Monetary Authority of Singapore (MAS) is set to accept the first applications.

ICICI Bank claims industry first with robotic cash counters

/Next Gen Banking

ICICI Bank claims industry first with robotic cash counters

India's ICICI bank has claimed to be the first bank in the country to deploy industrial robotic arms to count currency notes.

Aussie regulator turns to tech in new strategy

/Next Gen Banking

Aussie regulator turns to tech in new strategy

Australia's capital markets regulator has vowed to expand its use of new technology and behavioural data as part of a strategic plan to strengthen its enforcement.

How to build the regulator’s confidence in the cloud

/cloud

How to build the regulator’s confidence in the cloud

When moving to the cloud, meeting all risk, legal and compliance requirements is non-negotiable. The key question regulators are asking financial services providers is whether they have identified the operational risks associated with migrating to cloud computing, and if banks understand the process of managing these obstacles.

Deutsche Bank to spend €13bn on tech amid massive job cuts

/Next Gen Banking

Deutsche Bank to spend €13bn on tech amid massive job cuts

Deutsche Bank has announced swingeing job cuts as part of a radical overhaul of its operations that will also see it spend €13bn on new technology over the next four years.

Banks falling behind in digital transformation efforts

/Next Gen Banking

Banks falling behind in digital transformation efforts

Despite investing more than $1trn globally in new technology over the last three years, the majority of banks have yet to see any financial boost from their digital transformation programmes.

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