Latest long reads: Finextra Research

How new European and US Open Banking rules will change the financial landscape

Scott Hamilton Contributing Editor at Finextra Research

How new European and US Open Banking rules will change the financial landscape

The 'Open Banking' movement – described by Scarlett Sieber in Forbes as “the plumbing and piping of your institution that acts as an enabler to allow you to partner with third parties like fintechs” – can be hard to define given its different approaches and elements in specific regions and countries across the globe. Europeans point proudly, and r...

28 November 2023 /devops

Autumn Statement 2023: Fintech vs. Jeremy Hunt?

Madhvi Sonia Head of Content at Finextra

Autumn Statement 2023: Fintech vs. Jeremy Hunt?

In 2022, the UK chancellor of the exchequer Jeremy Hunt planned to “turn the United Kingdom into the world’s next Silicon Valley.” A year on, the Hunt’s Autumn Statement opened with a comment on how “the work is not done,” but the UK government would focus on “reducing debt; cutting tax and rewarding hard work; backing British business; building...

27 November 2023 /retail

What’s happening at Binance? A 2023 timeline

Dominique Dierks Senior Content Manager at Finextra

What’s happening at Binance? A 2023 timeline

With a resigning CEO and a record-breaking payout of billions of dollars – Binance’s November settlement was just the tip of the iceberg of a year filled with regulatory woes. In this article we highlight the key events of 2023 that led to Binance agreeing to pay some of the largest fines in US history. March 2023: CFTC sues Binance In March, the U...

24 November 2023 /crypto

A quarter of UK workers want to start 2024 with a new job

Amanda Kavanagh Contributor at Jobbio

A quarter of UK workers want to start 2024 with a new job

If you are keen to start the new year with a new job, the best time to begin the process was last month. The second best time is now. Some 22% of workers hope to land a new job in 2024, according to a recent survey of 5,000 workers, and 40% of these respondents believe January is the best time to start looking. However, this does not align with ...

24 November 2023 /people

OpenAI: What just happened to the CEO Sam Altman?

Níamh Curran Senior Reporter at Finextra

OpenAI: What just happened to the CEO Sam Altman?

Sam Altman is being reinstated as the CEO of OpenAI after unexpectedly being removed from the position by the board last Friday. OpenAI is responsible for the creation of ChatGPT and recently announced a new product which will allow companies to create custom versions of AI chatbots, which the company has called GPTs, without any coding. However, ...

23 November 2023 /startups /ai

How open banking revolutionises corporate financing and streamlines credit risk management

Marie Costers VP Business Services at Ponto by Isabel Group

How open banking revolutionises corporate financing and streamlines credit risk management

Since open banking launched in 2018, demand for real-time payments and fee savings for merchants has been fuelling adoption. Especially over the last couple of years, adoption has started to rapidly pick up, with Europe boasting the largest open banking market globally. Open banking is rapidly reshaping the payments landscape, yet one area that re...

23 November 2023 /payments

Understanding the UK High Court’s AI patentability ‘Holy Grail’ ruling

Paige McNamee

Understanding the UK High Court’s AI patentability ‘Holy Grail’ ruling

The English High Court today handed down a decision which promises to shape the patentability of key aspects of AI technology. Overruling an earlier decision of the UK Patent Office (UKIPO), the High Court ruled that Emotional Perception AI Limited (EPAI), a subsidiary of AI Venture Studio Time Machine Capital Squared (TMC2), could patent a novel t...

23 November 2023 /regulation /ai

How to move to the public cloud and achieve economies of scale

Madhvi Sonia Head of Content at Finextra

How to move to the public cloud and achieve economies of scale

Given perceived risks, the security and cost benefits of moving to a cloud-based system were often overlooked, with some financial institutions believing that cloud deployments will result in more overall risk than traditional systems. However, over the last few years, the more a bank takes the time to understand the cloud services available, the ...

22 November 2023 /cloud

How the FTA inspires a spirit of collaboration between the UK and Australia - Moonova

Sehrish Alikhan Reporter at Finextra

How the FTA inspires a spirit of collaboration between the UK and Australia - Moonova

While the UK has been cemented as a global fintech hub, Australia has gained its own status as a destination for fintechs to expand and thrive. Each recognising the potential in the other, the two countries have shared success and facilitated growth through exchange through the UK-Australia Fintech Bridge established in 2018, and the UK-Australia...

21 November 2023 /startups

AI: Here's what every bank in the world is working on

Madhvi Sonia Head of Content at Finextra

AI: Here's what every bank in the world is working on

Here is a comprehensive list of where each bank is at with their respective artificial intelligence strategy, providing the most recent AI developments across 50 of the largest banks in North America, Europe, and Asia, so bookmark it and use it as a reference tool. According to the annual Evident AI Index, JPMorgan Chase is the most mature when it...

20 November 2023 /payments

2024 fintech trends and Finextra’s predictions for the new year

Madhvi Sonia Head of Content at Finextra

2024 fintech trends and Finextra’s predictions for the new year

Launching today, Finextra’s PREDICT 2024 channel will gather insights and ideas from the industry's top thought leaders, capturing how the financial services industry will tap into technology trends in 2024 and these predictions will be shared with our 800,000 monthly readers. From November 2023 to March 2024, Finextra will be hosting video inter...

20 November 2023 /predictions

Banking on value: Financial institutions deserve more from their data

Retired Member

Banking on value: Financial institutions deserve more from their data

In 2006, Clive Humby famously declared that “data is the new oil”. The eye-catching quote perfectly surmised the immense potential value of data as it was understood at the time. Since then, that potential has only grown, particularly within the realm of financial services. For many banks and financial institutions, data has become a cornerstone f...

17 November 2023 /devops

Long reads