IOUpay goes into voluntary administration over suspected fraud
It took this step due to a “number of outstanding debts” with “no reasonable prospect” of repaying them.
PWC
Hundreds of German fintech start-ups gone bust since 2017
The average age of the fintechs that failed was four years old.
Artesian introduces customers to ARCH
The tool has been in development for two years.
Bank of England orders Visa to fix outage issues
The bank’s action follows the pan-European incident in June 2018.
PwC acquires FSCom’s regtech solution
Consultancy firm now owns KYC-Pro.
CBD keen to go digital, foster innovation and retain talent
Commercial Bank of Dubai (CBD) has recruited consultancy firm PwC to assist it with its digital transformation.
Top ten insurtech stories in 2017
Time for a near total recall of the insurance scene in 2017.
Blockchain and Bitcoin round-up: 1 December 2017
Quickly following on from yesterday’s (30 November) blockchain and Bitcoin round-up, here’s more action. Features money laundering in Japan; Coinsource ATMs in Georgia; Cardano Foundation, IOHK and Emurgo teaming up; and PwC in Hong Kong. Over in Japan, Kyodo and Jiji news sites have reported 170 cases of suspected money laundering linked to cryptocurrencies were […]
Infographic: a look at blockchain technology
This nifty infographic by PWC looks at the blockchain tech, how it works, its benefits and unknowns, cryptocurrency and potential applications.
PoC-ketful of fintech pinnacles for Kickstart Accelerator
Fintech is running like clockwork in Switzerland as over 30 proof of concepts (PoCs) and partnerships have been secured at Zurich-based Kickstart Accelerator’s tech programme. The accelerator – an initiative of digitalswitzerland and operated by Impact Hub Zurich – saw 29 start-ups as well as an intrapreneur team from AXA Winterthur and Swisscom working in […]
Fintechs – friends or foes?
Visa employees have a saying that “cash is our biggest competitor.” Mightier threats, however, are looming.
PwC blockchain aims to win Oscar for London insurtech
PwC has created a working blockchain prototype for the London Market Target Operating Model (TOM) Innovation Exchange, as it seeks to use the tech for payments in the specialist insurance market. Completed over a six-week period, the proof of concept (PoC) focuses on “enhancing” interactions between multiple different London Market parties involved in a claims […]
Crypto Valley launch breathes life into blockchain and cryptography
Switzerland-based Crypto Valley Association has launched as the nation looks to boost its blockchain and cryptographic ecosystem. Headquartered in the Swiss canton of Zug, Crypto Valley is an independent, government-supported association which aims to foster the development of digital technologies in Switzerland and internationally. The association will support start-ups and established enterprises through policy recommendations, […]
Digital Asset teams with Accenture, Broadridge and PwC for blockchain growth
New York-based Digital Asset Holdings, a developer of distributed ledger technology (aka blockchain), has teamed up with Accenture, Broadridge and PwC. Digital Asset says it has entered into non-exclusive strategic business relationships with the companies, and Blythe Masters, CEO of Digital Asset, says the alliances will “accelerate innovation” and “drive growth”. The Accenture relationship will […]
Correspondent banking faces ‘existential crisis’ warns PwC
De-risking, motivated by short-term risk-reward calculations, should not be allowed to kill off one of the cornerstones of the global financial system. Rather than abandon correspondent banking relationships, banks should be thinking about investing in and automating their risk controls, according to a new whitepaper by PwC.
Automating incentives boosts bottom line
Sometimes the least obvious changes can have a big effect, and very often those changes are in areas that might considered outside the remit of the people best placed to make them. Bank staff remuneration, for instance …
The fintech revolution heads for the clouds
Over the last decade the financial markets industry has experienced significant regulatory upheaval. We have witnessed a new approach to supervising financial institutions, with regulators moving from a “light touch” approach to an “interventionist” one
CBI/PwC survey sees rising optimism in UK financial services
Optimism among UK financial services firms rose strongly in the three months to March and profitability improved in most sectors, according to the latest quarterly CBI/PwC Financial Services Survey, but despite overall business volumes continuing to increase, the pace of growth was the slowest in a year
Hybrid skills shortage threatens growth say international bank chiefs
Limited availability of key skills is seen as a threat to growth prospects by 70% of chief executives in the financial services sector. A global survey by PwC shows that the disruptive impact of new technology and new competition in the sector has created new challenges for employers looking to hire in the months ahead. Concerns centre on the shortage of employees with the right combination of skills, with more than three quarters of executives looking for a broader range of skills when hiring than they did in the past.
FS sector to spend more on IT as confidence returns, says CBI/PwC
UK financial services firms are increasing their spending on IT but may still not be doing enough to fend off competition, according to the latest survey of the sector from the Confederation of British Industry and PwC.
Data dominates SifmaTech debates
The explosion of data in the securities and capital markets industry – more than 30% CAGR – is rapidly becoming a problem for market participants and managing that challenge will require a disciplined approach to the development of new data architectures.
Regulation is holding back innovation says building society chief
There is a danger that regulation will push financial services so far down the path of homogeneity that it hinders innovation and hurts customers, warns Robin Fieth, chief executive at the Building Societies Association.
Stop selling and start listening, say corporates
Banks don’t really understand the needs of corporates and are often so busy focusing on selling that they forget basic customer requirements, according to speakers at the IPS conference in London this week
