Finextra Research: Latest fintech news, analysis, interviews, features and opinion by industry experts

Wells Fargo's Irish arm fined for regulatory breaches

The Irish central bank has issued a record fine to Wells Fargo for reporting failures by its Irish subsidiary, citing the bank's weak IT systems.

05 July 2019

News/Post-trade & ops

Regulators and politicians respond to Facebook's crypto plans

Regulators, politicians and other crypto players have all responded to yesterday's unveiling of Facebook's Libra project and suggested that the social media giant's digital currency plans may face several challenges.

19 June 2019

News/Post-trade & ops

BoE issues cyber attack warning

Banks would struggle to defend themselves against a state-sponsored cyber attack that corrupted their records over a period of months, according to a Bank of England (BoE) official.

19 June 2019

News/Post-trade & ops

UK fintech salaries on the rise - report

Jobs in the UK's fintech sector have grown by 61% in the last year while demand for skilled workers has seen salaries rise by as much as 25% according to a recently published report.

18 June 2019

News/Post-trade & ops

Italy's banks to use DLT for reconciliations

The Italian Banking Association (ABI) has revealed that the country's banks will be using distributed ledger technology (DLT) to run its reconciliations as of March 2020, making it the first use of the blockchain among Italy's banks.

18 June 2019

News/Post-trade & ops

SIA and Colt win ECB tender for ESMIG connectivity

The European Central Bank (ECB) has awarded a tender to Italian payment processor SIA and telco Colt for the provision of connectivity services to the Eurosystem market infrastructures.

17 June 2019

News/Post-trade & ops

Nordic banks to cut compliance staff in favour of robots

Two of the Nordics' biggest banks, Nordea and Danske Bank, expect to significantly reduce the number of staff employed in its compliance and financial crime departments and instead turn to robotics and artificial intelligence.

17 June 2019

News/Post-trade & ops

Blockchain benefits limited for retail banks - report

A report from management consultant McKinsey suggests that retail banks have been slower to adopt blockchain technology because they face more challenges in reaping the potential benefits.

07 June 2019

News/Post-trade & ops

Mega M&As fuel record growth in fintech deals

A flurry of large M&A deals and the popularity of contactless payments have helped to create a record volume of fintech deals, according to a recent report, but also raised fears that the market may be overcrowded and reaching peak status.

06 June 2019

News/Post-trade & ops

Blockchain gets a bashing from Deutsche Bundesbank president

Digital currencies, and their foundational blockchain backbone, have come in for a kicking from the president of Germany's central bank, who has characterized the former as a serious threat to the stability of the financial system, and the latter as no better than current technological solutions

31 May 2019

News/Post-trade & ops

KRM22 agrees acquisition of Object+

KRM22, an investment vehicle created to undertake a roll up of software companies providing risk management tools to the capital markets industry, has agreed to acquire Dutch-based risk management and post-trade services group Object+ for around £3 million.

30 May 2019

News/Post-trade & ops

Up to a fifth of capital markets jobs at risk from automation

Four hundred thousand capital markets jobs could disappear over the next decade as advances in artificial intelligence and technology decimate the workforce, according to forecasts by consultancy Opimas.

22 May 2019

News/Post-trade & ops

Swift to test real-time cross border payments in Europe

Banks from France, Germany, Italy, Luxembourg, Russia and Spain have joined with Swift to test real-time gpi cross-border payments through the Eurosystem’s Target Instant Payment Settlement (Tips).

21 May 2019

News/Post-trade & ops

OpenFin names former Goldman Sachs MD Tim Dinsdale as European CTO

Fresh from a $17 million fundraising round, capital markets apps platform OpenFin has appointed former Goldman Sachs MD, Tim Dinsdale, as European chief technology officer.

21 May 2019

News/Post-trade & ops

Top banks to spend £50 million on digital coin project - Reuters

Several of the world's largest banks are plotting a £50 million investment in a new digital cash settlement system, according to a report from Reuters.

17 May 2019

News/Post-trade & ops

Barclays and Wells Fargo lead $17 million funding round in OpenFin

OpenFin has won $17 million in funding from a clutch of top banks and VCs as it bids to build a new 'operating system of finance'.

16 May 2019

News/Post-trade & ops

Irish fintech Ion set to buy Acuris for £1bn

Ion Group, a Dublin-based financial software and data company, is reportedly in talks to acquire Acuris, the London-based owner of financial news and data service Mergermarket, in a deal expected to be worth more than £1bn.

10 May 2019

News/Post-trade & ops

UK regulators to form post-trade technology working group

UK regulators are to convene an industry-led 'Technology Working Group' to drive reforms in post-trade processing in a bid to encourage innovation, reduce complexity and increase systemic resilience.

08 May 2019

News/devops

ASX opens customer development centre for blockchain settlement system

The Australian Securities Exchange has moved closer to its goal of rolling out a blockchain-based settlement system with the opening of a new Customer Development Environment for users to test and interact with the new system.

07 May 2019

News/Post-trade & ops

SGX to move blockchain platform to Amazon Web Services

The Singapore Exchange is to port its investments in Hyperledger Fabric to Amazon Web Services as the big tech giant unveils its cloud-based Managed Blockchain network.

01 May 2019