Podcast: Amazon is everywhere
11:FS Fintech Insider podcast featuring FinTech Futures’ Tanya Andreasyan.
Innovation
US community bank rallies banking industry to address core software needs
Jim Kisch, president and CEO of Passumpsic Savings Bank, a community bank operating in the US states of Vermont and New Hampshire, is calling on the banking industry to support its request to core banking software vendors.
Barclays Africa looks for innovation heads-up with nine start-ups
Barclays Africa will collaborate with nine firms to explore new technology-based solutions to improve its banking services. The nifty nine are not just fintech but include Abe.ai and Kapitalwise from the US; FOMO Group and Byte Money from South Africa; and FlexPay, Spatialedge, Sun Exchange and Avenews-GT. Details below if you want the full show. […]
Banking Technology Awards: celebrating people that make things happen
This year’s Banking Technology Awards will be taking place on 13 December in London and once again we will be celebrating people that make things happen! The Leadership Awards will recognise individuals and teams that made a considerable contribution to our industry. What are the categories you can nominate in? Woman in Technology (W.I.T.) Award, in partnership with FemTechGlobal, will […]
Monetary Authority of Singapore plans payments council
The Monetary Authority of Singapore (MAS) says it will establish a Payments Council with the plan to create an “e-payment society” for the city state. The new council will comprise 20 people from banks, payment service providers, businesses, and trade associations. Members are appointed for a two-year term. MAS says the setting up of the […]
Banks look to immediate payments to drive revenue
Immediate payments is a key revenue driver for 66% of banks in markets with IP schemes, according to new benchmark data from processor ACI Worldwide and UK consultancy and Banking Technology’s sister company Ovum. Paybefore, Banking Technology’s sister publication, writes that the benchmark report, “2017 Global Payments Insight Survey: Retail Banking,” also found that although […]
Abu Dhabi and Kenya form fintech bridge
Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, and the Capital Markets Authority (CMA) Kenya have signed a co-operation agreement for fintech innovation. The agreement provides a framework for information sharing; and keeping abreast of regulatory and relevant economic or commercial developments in the respective markets. They will also support fintech […]
Klarna unveils free P2P payment service, Wavy
Klarna has unveiled Wavy, a new, free P2P payments service. Available in iOS and Android as well as online, the free app enables users in more than 30 European markets to transfer euros between friends and family.
Ripple unveils expanded suite of offerings
What’s in a name? Blockchain solutions company Ripple is about to find out. The company has unveiled a new name for its existing global payments network, as well as a handful of new solutions.
Samsung shows how big its IoT aaS is
Samsung has launched its latest assault on the world of internet of things (IoT), launching a brokering service for hardware manufacturers and service providers on its Artik IoT platform, reports Telecoms.com (Banking Technology‘s sister publication). It’s a trend which we are likely to see more of as the digital economy takes hold, but Samsung has […]
India consolidates bill payment system
Reserve Bank of India (RBI), the country’s central bank and regulator, has given National Payments Corporation of India (NPCI) the go-ahead to consolidate payment of local utility and services bills.
Facebook has a whoopsy as AI programme invents own language
Artificial intelligence (AI) detractors have just been given a bit more ammo after Facebook has had to shut down one of its programmes after it invented its own language, reports Telecoms.com (Banking Technology‘s sister publication). While it would not be considered realistic for AI to rise up and take-over the world in the near future, […]
Prospera CU is Open Anywhere to omnichannel onboarding
Prospera CU, a 63,000-member credit union in British Columbia, Canada, has launched Open Anywhere, a real-time application processing across all of its digital and physical channels. The solution is provided by Central 1 Credit Union in partnership with Canadian tech heavyweight CGI.
Reserve Bank of India unleashes account number portability
Reserve Bank of India (RBI), the country’s central bank and regulator, has asked banks in the country to work towards implementing a system that allows users to port their account from one bank to another, without changing the account number.
Fujitsu in blockchain-powered payments breakthrough
Fujitsu Laboratories says it has accelerated transaction processing for Hyperledger Fabric, one of the Hyperledger blockchain frameworks hosted by the Linux Foundation. In its latest development, Fujitsu says the processing of communications between applications and the blockchain platform, which had been the source of bottlenecks, is now “more efficient”. In a trial where this technology […]
Kakao Bank attracts 820,000+ clients in four days since launch
Kakao Bank, one of South Korea’s first digital only banks, says it has attracted KRW 535 billion ($477 million) worth of business in deposits and loans in just four days since its launch.
Payments Strategy Forum drafts in public for future of UK payments
The Payments Strategy Forum, created by the UK’s Payment Systems Regulator (PSR) in 2015, has launched a consultation on its blueprint for a new payments system for the UK. Calling it “the most radical change to the payments industry since the 1960s”, the Forum says the New Payments Architecture (NPA) is designed to “provide simpler […]
Interview: Ben Brabyn, Level39 – high rise
In the beating business heart of London, Banking Technology met Ben Brabyn, head of tech hub Level39, for an exclusive interview on Brexit, rivalry and how success isn’t a zero-sum game.
Three more Chinese banks join Swift’s global payments innovation
Three local Chinese commercial banks have joined Swift’s global payments innovation initiative (gpi), bringing the number of Chinese banks involved to 16, the most in the world, according to Xinhua. The new trio are Yinzhou Bank and Bank of Ningbo in eastern China’s Zhejiang province; and the Bank of Jiangsu, in the eastern Jiangsu province […]
Euroclear ends blockchain gold settlement deal with Paxos
The partnership between central securities depositary Euroclear and Paxos for a blockchain-powered gold settlement service is over, according to Reuters. As Banking Technology reported last year, the pair completed their first pilot for the service for London bullion – with a go-live planned for this year. Over 600 OTC test bullion trades were settled on […]
AI in Financial Services: be a part of the hottest topic in tech world
Banking Technology is producing the AI in Financial Services supplement for the AI Summit in San Francisco.
Top fintech stories this week – 28 July 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Abu Dhabi and Malaysia make friends for fintech fantasia
Abu Dhabi Global Market (ADGM), the International Financial Centre of Abu Dhabi, Labuan International Business and Financial Centre (Labuan IBFC) and Labuan Financial Services Authority (Labuan FSA) have partnered to boost their financial ecosystems in Malaysia and Abu Dhabi. Labuan is a federal territory of Malaysia – and its capital, Victoria, is used as an […]
Hong Kong kicks off fintech career accelerator scheme
Fintech is coming on strong in Hong Kong with the unleashing of a career accelerator scheme to tap into the juicy veins of young blood. The Hong Kong Monetary Authority (HKMA) and the Hong Kong Applied Science and Technology Research Institute (ASTRI) have launched their Fintech Career Accelerator Scheme (FCAS) induction day today (27 July), […]
Alipay comes to Greece via Viva Payments
Paytech firm Viva Payments is bringing Alipay to Greece. A strategic partnership between the two companies will see Alipay users “access the service for the first time” while visiting the country.
Blockchain firm Symbiont gets investment from Medici Ventures
Blockchain technology investor Medici Ventures has teamed up with Symbiont, providing investment to the company and announcing a collaboration involving both Medici and its parent company Overstock, reports Finovate (Banking Technology’s sister company). The partnership will enable Medici Ventures to become the first company to register corporate ownership shares using the blockchain. The news follows on […]
Digital currency: the future or the biggest flop?
From Bitcoins to even newer (and lesser known, but rising) forms of currency, will this level the playing field for people in the future, or is this all just a sham that will die down? As things get digitised, what do we need to know about digital currencies, and does this mark the demise of traditional forms of currencies?
Abu Dhabi and Australia ally for fintech innovation
The Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA) and the Australian Securities and Investments Commission (ASIC) have signed a co-operation agreement for financial innovation. This agreement, which follows on from recent deals with Hong Kong and Japan, expands ASIC’s network to the Middle East and North Africa (MENA) – which are “currently […]
Cantilan Bank pioneers cloud-based core banking software in Philippines
Cantilan Bank is set to become “the first bank in the Philippines to use cloud-based core banking technology in its operations”.
Open letter to EU decision makers on PSD2 RTS – figo
This open letter from German fintech figo is not about the usual pros and cons of this debate, but intends to provide the European Council with actual solutions, i.e. smart trade-off ideas that could mean an end to the everlasting screen scraping debate and eventually the RTS process.
IBM launches security testing services for IoT developers
IBM’s security arm is launching testing services for the internet of things (IoT) – with Watson IoT offering configuration and management capabilities for IoT environments, reports Finovate (Banking Technology’s sister company). IoT technologies are on the rise – in fact, Gartner predicts that connected things will reach 20.4 billion by 2020. This flood of new capabilities comes with the […]
Google makes loads of money, but cloud is real story
Googlers are still swimming in cash as the latest quarter brought in $26.01 billion, and not even a $2.74 billion fine from the European Commission could dampen the mood at this party, reports Telecoms.com (Banking Technology‘s sister publication). The uplift in revenue, accounting for a 21% year-on-year boost, should not really come as a huge […]
JP Morgan Chase start-up portfolio with CFSI powers on
JP Morgan Chase is more than halfway through its five-year $30 million commitment to start-up innovation in its partnership with Centre for Financial Services Innovation’s (CFSI) FinLab, reports Finovate (Banking Technology’s sister company). Each of the past three years, fintech start-ups have been invited to apply to the accelerator which is focused on finding financial solutions for low- and […]
UK Government plans new cybersecurity innovation centre
The UK is fighting back against cyberattacks with a new cybersecurity innovation centre in London and investment of up to £14.5 million to develop technology to help keep the nation safe. The investment will be made over the next three years to bolster the UK’s cybersecurity defences, and follows on from February, when the new […]
Bold statement four: statements from around the bleeding edge of innovation
Welcome back to these pages – and the almost final installation of a series that was started some months ago, talking about some of the grand sweeping statements that we hear, and make.
Banking Technology and FemTechGlobal looking for inspiring women in fintech
Do you know any special women in technology who have made a huge contribution to fintech? Then we want to know! Banking Technology and FemTechGlobal, a global diversity and inclusion organisation, are again on the look-out for all amazing women who deserve the Woman In Technology (W.I.T.) Award, part of Banking Technology’s 2017 annual Awards show. […]
Emirates NBD raises profile with FaceBanking launch
Emirates NBD has launched FaceBanking, a “first-to-market service” offering video and live chat with advisors on its revamped online banking platform and mobile banking app. The new 24×7 service lets its customers connect with a personal banking advisor for queries and transactions by clicking a button on the online banking platform, “thus effectively bringing in […]
New Indian SME digital bank Open readies for launch
India’s SME-focused digital challenger bank Open is getting ready for its mid-August launch with a round of seed funding. Open calls itself “Asia’s first SME neo-banking start-up” and is using the same business model as Tide in the UK and Finnish start-up Holvi (recently acquired by BBVA). With its launch date in sight, the bank […]
The Monday mindset: 24 July 2017
Fintech zeitgeist! Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye. This week, Claire Calmejane, director of innovation at Lloyds Banking Group, presents “Digital Zero to Hero: Myth Debunking”. (This is part of a series […]
Belarus’ central bank builds blockchain-based information network
National Bank of the Republic of Belarus, the country’s central bank, says it has created an information network based on blockchain technology, “which may be used to tackle a wide range of modern and promising banking and non-banking tasks”.
