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

Blockchain could slash investment banks' costs by 30%

Blockchain technology could reduce infrastructure costs for eight of the world’s 10 largest investment banks by an average of 30%, saving them billions of dollars every year, new research from Accenture and McLagan suggests.

17 January 2017

News/Reconciliation

Citi backs blockchain startup

Citi has invested an undisclosed sum in Cobalt, a blockchain startup aiming to bring distributed ledger technology to the processing of foreign exchange trades.

15 December 2016

News/Reconciliation

Barclays and Citi test blockchain tech for equity swaps processing

A group of five major banks, working with Thomson Reuters, IHS Markit and Axoni, have carried out a successful test of blockchain technology and smart contracts to manage affirmations and post-trade lifecycle processing for OTC equity swaps.

18 October 2016

News/Reconciliation

R3 blockchain consortium sheds light on Concord project

The bank-backed R3 CEV blockchain consortium has filed its first patent application, shedding light on Corda, the software that will be central to its shared ledger project, which could begin rolling out within months.

24 August 2016

News/Reconciliation

Worldpay's payments glitch rumbles on

UK payment processing firm Worldpay is experiencing ongoing problems issuing payments despite promising to work with clients to resolve the software issue.

20 July 2016

News/Reconciliation

Blockchain tech could save cash equities market $6bn a year - Goldman Sachs

The use of blockchain technology for clearing and settlement in the cash equities market could save banks around the world $6 billion a year, mainly through lower headcounts and back office IT costs, according to a Goldman Sachs report.

26 May 2016

News/Reconciliation

Markit to buy Loan/SERV position reconciliation tech assets

Financial data outfit Markit has agreed to buy the position reconciliation technology assets of Loan/Serv from the Depository Trust & Clearing Corporation (DTCC). Financial terms have not been disclosed.

11 January 2016

News/Reconciliation

Payments UK sets out vision for 'world class' services

Trade association Payments UK has vowed to improve access to payments infrastructure and give customers more control over transactions as part of a drive to ensure Britain has a "world class" system.

28 August 2015

News/Reconciliation

Top-tier financial firms consolidating reconciliation

With regulatory requirements driving reconciliation at top-tier financial institutions, many are consolidating through centres of excellence, according to a report from SunGard and Aite.

21 July 2015

News/Reconciliation

CBA unveils Albert tablet payment device

Commmonwealth Bank of Australia (CBA) is making a move into the point-of-sale hardware market, teaming up with German tech firm Wincor Nixdorf and Ideo to launch a seven inch Android-based tablet system dubbed Albert.

31 March 2015

News/Reconciliation

Canada's D+H agrees $1.25bn Fundtech acquisition

Canadian financial technology firm D+H is to buy transaction banking vendor Fundtech for $1.25 billion in cash, subject to regulatory approvals.

31 March 2015

News/Reconciliation

London Stock Exchange partners Wipro to launch reconciliation utility

The London Stock Exchange has partnered with Indian IT services firm Wipro to launch a hosted reconciliation utility designed to eliminate the needs for firms to invest in technology, people and processes for tracking their outstanding transactions.

09 July 2014

News/Reconciliation

Deutsche Bank builds Accounts Receivable Manager for Sepa for PayPal

Deutsche Bank has launched Accounts Receivable Manager (ARM) for Sepa, a corporate cash management tool initially developed for e-commerce giant PayPal

10 April 2013

News/Reconciliation

Banks announce support for SAP corporate cloud messaging network

Bank of America Merrill Lynch, The Bank of Tokyo-Mitsubishi UFJ, Citi, Deutsche Bank, Nordea, Royal Bank of Scotland and Standard Chartered Bank have announced their involvement in the development of the SAP Financial Services Network (FSN), a cloud-based corporate-to-bank connectivity platform.

29 October 2012

News/Reconciliation

Dealing firms not ready for real-time reconciliation - survey

More than half of financial institutions have not yet embarked on real-time reconciliation for any of their asset classes and do not expect to be in a position to move to do so by the end of 2013, according to a survey conducted by Gresham Computing

29 October 2012

News/Reconciliation

Icap's fintech incubation vehicle invests in Model Two Zero

Euclid Opportunities, the vehicle set up by interdealer broker Icap last year to provide seed funding to new fintech companies, has invested in London-based post-trade software firm Model Two Zero.

18 January 2012

News/Reconciliation

UBS admits to breakdown in risk control systems

In the wake of its recent $2.3 billion loss through unauthorised trading, Swiss bank UBS has admitted that internal controls were "not effective".

25 October 2011

News/Reconciliation

IT spending on reconciliation and exception management set to soar - Celent

Global IT spending on reconciliation exception management will hit $700 million this year, with around half of this making its way to third party software vendors, according to research house Celent.

15 September 2010

News/Reconciliation

Broadridge buys City Networks

Broadridge Financial Solutions has acquired City Networks, a long-standing UK-based provider of reconciliation, multi-asset process automation and operational risk management software and services to the finance industry. Financial terms were not disclosed.

21 June 2010

News/Reconciliation

Misys and SmartStream forge post-trade STP tie-up

Fintech vendors Misys and SmartStream Technologies have formed a partnership designed to tackle risk control problems and inefficiency across the trade transaction lifecycle.

07 June 2010