Latest Personal finance News: Finextra Research

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.

19 August 2019

News/ai

The Future of AI: Applications for banking business transformation

While artificial intelligence has established itself as a disruptive technology for decades, AI is at the peak of the hype cycle now and banks have started to apply this technology to transform traditional models of businesses.

16 August 2019

Company update/payments

Fingopay partners with All Work & Social for biometric payments

All Work & Social, the operating company behind XYZ Work and the recently launched XYZ Social in Spinningfields, has partnered with biometric payments provider, Fingopay.

16 August 2019

Company update/Personal finance

Banco Galicia implements Strands' PFM

Argentina’s largest domestic private bank Banco Galicia has incorporated Strands’ Personal Finance Management (PFM) solution in order to offer more innovative and personalized digital banking.

14 August 2019

Company update/retail

Travelex opens five currency exchange stores in Kuala Lumpur airport

Travelex, the world’s leading foreign exchange provider today launched the opening of five ‘retailtainment’ and ‘open concept’ currency exchange stores at KL International Airport, Malaysia. The bureau de change stores at KLIA, which feature digital and interactive technology aim to create more engaging and fuss-free transactions for those traveling through KUL.

13 August 2019

News/payments

UK PSR confirms Confirmation of Payee 31 March 2020 deadline

Following a slow roll out of ‘Confirmation of Payee’ (CoP) technology, the UK Payment Systems Regulator has ordered Lloyds, RBS Natwest, Barclays, HSBC, Nationwide and Santander to assure implementation by 31 March 2020.

02 August 2019

News/regulation

Indonesian regulator OJK shuts down 826 fintechs – Bloomberg

The Indonesian Financial Services Authority, known as OJK, has shuttered a staggering 826 fintech startups operating without a license in this year alone, despite the increased appetite for the industry in the Southeast Asian nation.

02 August 2019

Company update/startups

Money management fintech FinFit raises $7 million

FinFit, a FinTech company that provides over 125,000 employers with a unique financial wellness benefit platform, today announced that the company has raised $7 million in Series B funding.

31 July 2019

Company update/Personal finance

KeyBank institutes in-branch Financial Wellness Review

Paving new paths on the journey to financial wellness, KeyBank has introduced the Financial Wellness Review—a new tool aimed at helping clients better understand and address their financial pictures.

31 July 2019

News/Personal finance

Circle CEO claims current financial system is 'failing 99% of the time'

Testifying before the US Senate Committee on Banking, Housing and Urban Affairs, Circle co-founder, chairman and CEO Jeremy Allaire highlighted that the existing financial services system is in dire need of being completely overhauled.

30 July 2019

Company update/payments

Glint launches gold-based debit Mastercard and app in US

Glint Pay Inc. (Glint), a subsidiary of the U.K.-based fintech company that makes gold an alternative global currency by enabling its clients to buy, sell, save and spend their physical gold instantly through the Glint Debit Mastercard and Glint App, today announces the launch of its products in the U.S. and the selection of Boulder, CO as its U.S. headquarters. To date, Glint has more than 50,000 app downloads, 10’s of thousands of registered users and more than USD $50 million in transacted volume.

30 July 2019

News/Personal finance

Capital One data breach leaves 100 million vulnerable

Capital One revealed Monday that 100 million credit card applications had been accessed, resulting in thousands of Social Security and bank account numbers being left at risk.

30 July 2019

News/devops

How developers can leverage retail banking open APIs

Developers are now able to tap into the potential of PSD2 and open banking with no prior core banking experience and leverage open APIs to build retail banking applications. Anand Subbaraman, VP and general manager of retail banking, at Finastra believes that the potential for open APIs is limitless, and we are now in the fourth generation of banking.

30 July 2019

News/Personal finance

Mastercard and Citi invest in Flybits

Mastercard and Citi Ventures have joined a $35 million Series C funding round for Flybits, a startup that uses AI and machine learning to help banks personalise their customer offers.

16 July 2019

Company update/Personal finance

TrueLayer integrates with Revolut

TrueLayer, Europe’s leading providers of financial APIs, has integrated with Revolut to enable the secure access of financial data via Open Banking.

16 July 2019

Company update/Personal finance

Moneythor opens Tokyo office

Moneythor, an award-winning provider of data-driven digital experiences for banks and fintech firms today announced, that it has opened its newest office in Tokyo, Japan.

15 July 2019

Company update/Personal finance

MoneyThor to join Mastercard Start Path programme

Award-winning digital banking software provider Moneythor has been selected as one of 10 later-stage FinTech startups to be accepted onto the renowned Mastercard Start Path program, part of Mastercard Labs.

09 July 2019

Company update/Personal finance

incuto named as tech partner for UK Treasury savings scheme

Fintech incuto, the next-generation banking platform for credit unions and community-based banks and lenders, has been selected by HM Treasury as the sole technology partner for the two-year pilot of its prize-linked savings scheme for credit unions.

08 July 2019

News/startups

Nordea invests EUR5m in neobank P.F.C

Nordic banking giant Nordea has invested EUR5 million in P.F.C (Personal Finance Co.), a recently launched Swedish neobank.

05 July 2019

Company update/Personal finance

ABN Amro turns to Sopra for its mobile banking app

Sopra Banking Software, global leader in digital banking and financing software, supports banks and other financial institutions with their digital transformation.

05 July 2019