Volkswagen finance arm invests in AutoGravity
Volkswagen’s finance arm, VW Credit, has agreed to make an equity investment of an undisclosed amount in auto financing platform AutoGravity.
Banking
Sibos 2017: entertainment guide – return to Toronto
Swift’s annual event, Sibos, was last held in Toronto in 2011, so many delegates will already have explored the city and know what’s in store. But for those who have yet to visit, read on.
Top fintech stories this week – 7 July 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Top five questions about using quantum-safe security in financial transactions
A wide range of technology-driven sectors will be affected by the advent of universal quantum computing many experts say will happen by 2026, but the financial industry has particular reason to be concerned.
Banking Technology July/August 2017 issue out now
Set sail for fintech! The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
Just in case you need a reason: why participate in Banking Technology Awards?
This year’s Banking Technology Awards are taking place on 13 December in London and there are plenty of reasons why you and your team should be a part of this prestigious event. Besides having a good chance at winning, entering the Awards also allows you to: Make global headlines in the industry if your entry […]
Regtech: features that make data work harder and smarter
There is far more to regtech than regulatory technology, or at least there can and should be. Regtech, as it is coming to be understood, must be something qualitatively different from what it’s replacing and not just a faster and better version of the same thing.
Orange Puts Bank on Hold amid Struggle to Get it Right
Orange has put the brakes on its ambitious plans to venture into the world of mobile banking after finding the proposition doesn’t quite meet its standards.
Fintech funding round-up: 30 June 2017
A handy round-up of who’s investing in what in the fintech space. Featuring Revolut, Tango Card and ClauseMatch.
Ruby Hill Microfinance opts for Abacus core banking system
A new microfinance entity in Myanmar, Ruby Hill Microfinance, has signed for the Abacus core banking system, provided by Fern Software.
CRS: the end of tax evasion?
Tax evasion and tax fraud have been affecting governments finances all over the world over the decades. It occurs within a country and across countries. Thus, a single country cannot solve the problem on its own. Countries need to work more together and internationally to combat the problem home and abroad.
Money20/20 Europe: a finale for financial inclusion
For the finale of the final day of Money20/20 Europe, financial inclusion was discussed with resolute optimism for a bright future.
Money20/20 Europe: regtech – from here to agility
The shift from analogues to digital – according to Michael Meyer, Middlegame Ventures, during a regtech discussion at Money20/20 Europe – a major European bank he spoke with files over 50,000 pages as part of its quarterley regulatory reporting.
Money20/20 Europe: advancing APIs to a happy place
The interest from the fintech community in APIs burns brighter than a thousand suns, but where will this technology and the spirit of open banking take us?
CFPB Snapshot: California Leads Nation in Complaints to Agency
The CFPB receives more than 20,000 complaints every month, according to Director Richard Cordray, and the bureau’s latest installment of its Monthly Complaint Report highlights consumer complaints at the state level. As of June 1, the CFPB has received more than 1.2 million complaints across the country since it began accepting them in 2011. The top three states with the most complaints are California, Florida and Texas with 159,158, 111,559 and 93,472 complaints, respectively.
Nominate your projects for Banking Technology Award!
Banking Technology is on the lookout for all the best FinTech projects of the year! Recognising excellence, innovation and the use of IT in banking and financial services, the Banking Technology Awards will be taking place on 13 December in London. Think your achievements deserve a special recognition? Or know projects that do? Nominate today […]
Bank of America signs for Oracle ERP
Bank of America is rolling out Oracle’s cloud-based ERP system and financial applications for its international general ledger and broker-dealer systems.
Verizon jumps on the AI-security bandwagon
Verizon’s venture capitalist arm has started throwing its weight around the security arena, pumping cash into artificial intelligence (AI) start-up SparkCognition.
Money20/20 Europe: is banking a dead cat?
What is the future of banking? Is it a giant menu from which customers (individuals and businesses) choose who is to provide what contingent upon well-informed choice and best value. Or is it a model where banks still rule from the centre, providing customers the simplicity of a range of products through a single provider. Putting aside whether or not this highly competitive state is possible, which is the future direction of banking?
Visa invests in paytech firm and bank Klarna
Visa is investing in Klarna, a Swedish payments and banking firm, and the two firms intend “to develop a future strategic partnership”.
Study: Americans Uneasy about Finances Provide Opportunity for Financial Service Providers
One-fourth of Americans say they have too much debt, with 96 percent of them reporting they are financially stressed, according to a survey by the Center for Financial Services Innovation to gauge Americans’ financial well-being. While those statistics are bleak, they should signal an opportunity for banks, credit unions, fintechs and other companies to provide products, services and guidance to improve consumers’ financial stability, according to Jennifer Tescher, founder and CEO of CFSI.
R3’s Corda DLT platform tested for euro commercial paper issuance
Blockchain consortium R3 (which now describes itself as an “enterprise software firm”) and four of its member banks have created a prototype solution for issuance of euro commercial paper (ECP) on R3’s Corda distributed ledger technology (DLT) platform.
Mobile-only bank Pepper now live
Israel’s Bank Leumi has launched its new digital banking subsidiary, Pepper.
Money20/20 Europe: let AI negotiate
Are trends eclectic for artificial intelligence (AI)? Perhaps not as the fintech world is getting more imaginative and calling for the machines to negotiate on behalf of less-than-objective humans. At this morning’s (26 June) sessions at Money20/20 in Copenhagen, the themes of AI use cases in financial services and fraud were discussed.
Top fintech stories this week – 23 June 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Commercial banks join the retail revolution: three reasons to consider transformation
Long-term growth will require the commercial banking industry to embrace digital transformation in a way that benefits the institutions’ stakeholder base and satisfies the needs of its end-user clients. And here are three reasons why a commercial bank should consider transformation.
How banks can beat the fintech threat – Capgemini’s 2017 World Retail Banking Report
Facing disruption from fintech providers, traditional banks must embrace APIs and the open-source model to avoid losing their place at the centre of consumers’ financial lives, a new report warns.
Softbank ups investment in security AI firm Cybereason
Softbank has upped its investment in security firm Cybereason, as the focus on artificial intelligence (AI) continues.
Rabobank builds cross-border payments hub with Finastra
Rabobank is modernising and centralising its cross-border payments operations. The software supplier for the new payments hub is Finastra (formerly Misys and D+H).
Fintech funding round-up: 21 June 2017
Some people have got deep pockets, because the funding fun never ends. Our latest round-up features Soldo, Atom Bank, British Business Bank, BlackRock and Scalable Capital. Multi-user spending account, Soldo, has reported a Series A funding round of $11 million, led by Accel and includes participation from Connect Ventures, InReach Ventures, U-Start and R204 Partners. […]
Eight Fledgling Fintech Providers Win Capital with CFSI Awards
Eight fledgling fintech companies have won $250,000 each from the Center for Financial Services Innovation. Each FinLab winner in this third annual competition from the CFSI receives $250,000 in capital, along with resources to test, enhance and scale their products, in part via the expertise of JPMorgan Chase, a founding lab partner.
Who is the greatest fintech leader of 2017?
This year’s Banking Technology Awards are taking place on 13 December in London and once again we will be recognising individuals for leading and playing an instrumental role in devising and/or delivering the technology strategy to support the key business objectives of an organisation. The Tech Leadership Award category is open to all industry participants worldwide – those […]
Blockchain fuels IBM and Standard Chartered insurance policy pilot
American International Group (AIG), IBM and Standard Chartered have piloted the “first” multinational, smart contract based insurance policy using blockchain. The trio converted a controlled master policy written in the UK, and three local policies in the US, Singapore and Kenya, into a smart contract that provides a shared view of policy data and documentation […]
Banking Technology Awards 2017 now open for entry!
Know any innovative products, inspirational projects, skilled teams or visionary leaders that deserve a special recognistion this year? Nominate them for a Banking Technology Award!
Finastra heads to IBM cloud for digital banking
Fintech titan Finastra is turning to IBM to power its banking operations with cloud and cognitive technologies. As reported yesterday (14 June), Misys and DH Corporation (D+H) joined forces to create Finastra, the third largest financial services technology company in the world. With Finastra now officially alive and kicking, it’s wasted no time in showing […]
Avaloq Community Conference 2017: not trapped in a geography
Avaloq has hit back at Temenos’ claims that it is “trapped in a relatively small geography” by pointing to its revenue rise and innovation drive as reasons for something to be cheerful about.
Avaloq Community Conference 2017: embracing blockchain and Bitcoin innovation
Swiss core banking software vendor Avaloq is prepared to tap into the potential of blockchain and Bitcoin over the next 12 months as it seeks to experiment and innovate more in these areas.
Fiserv sets sights on mobile payments tech vendor Monitise
US tech giant Fiserv has offered to buy Monitise, a UK-based mobile payments software and solutions provider. The cash offer to acquire is at 2.90 pence per share – valuing Monitise at approximately £70 million.
White paper: choosing the right in-memory computing solution
As in-memory computing (IMC) gains momentum across a wide range of applications, from fintech and ecommerce to telecommunications and internet of things (IoT), many companies are looking to IMC solutions to help them process and analyse large amounts of data in real time.
Calastone completes first phase of blockchain project
Global funds transaction network Calastone says it has “successfully” completed the first phase of its blockchain distributed market infrastructure proof-of-concept (PoC).
