Sibos 2017: fear the bigtech
As the financial services industry and fintechs work ever closer, where does that leave bigtech?
Financial Services/Finserv
Sibos 2017: APIs – a holistic approach
In today’s (17 October) session at Sibos, API in financial services: the key to the future?, the discussion panel participants were in agreement on the following: if your want your API strategy to work, you’ve got to have a holistic approach to it across the organisation.
HSBC plans faster supply chain finance with new Me-PO solution
HSBC has introduced a matched electronic purchase order (Me-PO) financing solution to improve its release of working capital.
Natixis, Société Générale and Broadridge complete blockchain pilot
Broadridge Financial Solutions, Natixis and Société Générale say they have “successfully completed” a pilot project that leverages blockchain technology for bilateral repurchase, or repo, agreements.
Bill & Melinda Gates Foundation to launch underbanked service with Dwolla, Ripple and others
The Bill & Melinda Gates Foundation has launched a new service created with in partnership with Dwolla, along with collaboration with Ripple, Crosslake Technologies, ModusBox, and Software Group.
De-risking in trade finance: time to act
As financial authorities express concern about de-risking in correspondent banking, a similar phenomenon is emerging in trade finance, driven by the high costs of KYC compliance.
BNP Paribas and EY explore private blockchain for treasury operations
BNP Paribas ALM Treasury and EY have completed a pilot demonstrating the use of blockchain to improve global internal treasury operations for the bank. The ALM Treasury department, which manages the bank’s internal ops, at the service of all three operating divisions of the group, carried out the pilot, tested internally this summer. According to […]
BNP Paribas selects SmartStream’s fees and expense management solution
The derivatives execution and clearing (DEC) business of BNP Paribas has implemented SmartStream Technologies transaction lifecycle management (TLM) Fees and Expense Management (FEMS) solution.
Sibos 2017: collaboration vital to avoid dinosaur status
The question of whether – and in what form – banks will survive in the future depends largely on how the forces of changing customer behaviour, technology and regulation will play out on different types of banks.
Regtech to the rescue
Regulatory technology (regtech) is often cited as the answer to the rising cost of compliance, risk and reporting duties at banks. Will it help financial institutions escape IT silos and enhance control over data?
Talking heads: real-time payments – instant gratification
With myriad domestic instant and real-time payments systems being deployed internationally, is the next logical step cross-border, real-time payments? We asked some Sibos delegates what they think.
FIS and Citi team up for real-time payments for corporate treasury
FIS and Citi Treasury and Trade Solutions are working together to enable real-time payments and cash management for their corporate treasury customers. Using the CitiConnect application programming interfaces (APIs), FIS has connected its Trax corporate payments factory to the suite of Citi Treasury and Trade Solutions – enabling integration with Citi’s core treasury management functionality, […]
Oracle unleashes open API banking solution set
Oracle has unveiled its array of open banking solutions as it targets banks and pushing APIs into the mainstream.
Cybersecurity: into the data breach
Cybersecurity has become a significant issue as attacks are increasing. In the new payments ecosystem, where third-party developers can directly interact with banks’ customers, data privacy and security become paramount, according to the World Payments Report 2017.
IBM, KlickEx Group and Stellar unveil cross-border payments solution
IBM, KlickEx Group, a regional financial services company, and Stellar, a non-profit organisation that supports an open source blockchain network, have unveiled a new regional cross-border payments solution using IBM’s blockchain technology to provide clearing and settlement of trades on a single network in real time.
Microsoft and AWS buddy up to democratise machine learning
Microsoft and Amazon Web Services (AWS) have teamed up to launch an open-source, deep learning library called Gluon which will make machine learning (ML) more accessible to a wider range of developers, reports Telecoms.com (Banking Technology’s sister publication). That will be the key to winning the machine learning race. Not making the most complex and […]
Infographic: demystifying the cross-border remittances ecosystem
With a large chunk of the global workforce migrating to foreign countries in search of lucrative career opportunities or better living, the World Bank estimates that migrants will send up to $636 billion home in 2017, with three-quarters of that being remitted to developing countries. In 2015, $440 billion in remittances was sent back to […]
Infographic: Common Reporting Standard (CRS) – a year on
Financial institutions face unprecedented data management and compliance challenges as they continue to grapple with multiplying CRS and FATCA related global tax transparency regulations.
Top fintech stories this week – 13 October 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Blockchain and Bitcoin round-up: 12 October 2017
Whether it’s prepaid card time or financial crime, the world of blockchain and Bitcoin is a lively one. This latest round-up features BitFlyer, Visa, Accuity, R3 and SIA. Tokyo-based Bitcoin exchange BitFlyer has unveiled a Visa prepaid card that can be charged with Bitcoin in yen and used throughout Japan. It can be charged via […]
The modern trade landscape: banks and digitalisation
Innovative technologies are increasingly sparking enhancements to trade processes. BNY Mellon Treasury Services’ Dominic Broom, global head of trade business development, and Joon Kim, head of global trade product, discuss how the industry – with banks at the helm – can drive forward new capabilities and help to support trade growth through digitalisation.
Microsoft Ventures seeks AI-merican Idol
Microsoft Ventures has partnered with Madrona Venture Group to launch their Innovate.AI global start-up competition as they seek out machine learning and artificial intelligence (AI) firms. Madrona says the convergence of cloud computing, specialised chips for machine learning and new advances in algorithms has created a “unique opportunity for start-ups to build high value intelligent […]
IBM combining data science and AI for analytics advance
IBM is looking to offer big data number crunchers and data scientists a way to add more machine learning and deep learning technology into the analytics process by combining two of the company’s platforms developed specifically for artificial intelligence (AI) and scientific research. Enterprise Cloud News (Banking Technology’s sister publication) reports that two IBM executives, […]
Tascet teams with Secured2 to launch Algo5 data security offering
Identification technology company Tascet is partnering with Secured2 to launch a new data security offering. The product, Algo5, aims to protect data against both internal and external breaches, hacks, and disasters, reports Julie Muhn at Finovate (Banking Technology‘s sister company). The new data storage solution combines Tascet’s SuperToken, which verifies a user’s identity, with Secured2’s Beyond Encryption, […]
Bank of England fintech accelerator feels the fourth for innovation
The Bank of England’s (BoE) fintech accelerator has unleashed four new initiatives in the fields of distributed ledger technology (DLT), data storage and analysis, machine learning and cybersecurity. As reported in July, BoE revealed the third stage – such as its work with machine learning Mindbridge AI, DLT darling Ripple, and regtech bouncer Enforcd. Now […]
Infographic: how businesses submit invoices to customers
Everyone’s heard the proverbial drill that the cheque is invariably in the mail. But even as we head toward the end of 2017, it’s becoming clear just how true this statement is. In fact, many industries are still processing their customers’ payments using postal mail and paper cheques! This despite the array of accounts payable […]
The tech is there so why aren’t we doing better?
New technology has been billed as a means to make us more efficient in the work place, but we are actually becoming less productive. So what’s missing from the equation? Telecoms.com (Banking Technology’s sister publication) reports. The point was made by Joshua Meltzer from the Brookings Institute at the “Nordic Digital Business Summit” in Helsinki. […]
Just because it can be connected, that doesn’t mean it should be
Technology breakthroughs are great things; they present the opportunity for ideas, creativity and innovation. But there is always the risk of enthusiasm running away with itself, reports Telecoms.com (Banking Technology’s sister publication). That was certainly evident at this year’s “Nordic Digital Business Summit”, where internet of things (IoT) was at the top of the agenda. […]
Central banking and fintech: a brave new world?
This is a moment to celebrate 20 years of independence during which the Bank of England has been a stabilising force for the UK economy, inspiring others in the world of central banking.
The United Nations of Data – an interesting idea
One of the big problems of the digital economy is unity. Everyone is out for themselves which could mean no one wins, reports Telecoms.com (Banking Technology’s sister publication). What we’re talking about here are the rules – the legislation and regulation which defines how a company can operate in the connected economy. There sure are […]
Hey big lender! Finastra, R3 and seven banks have blockchain plan
Finastra, R3 and seven banks – including BNP Paribas, BNY Mellon, HSBC, ING and State Street – are working together to create a blockchain-fuelled online marketplace for the syndicated loan market. Underpinned by Corda, R3’s distributed ledger technology (DLT) based platform, Fusion LenderComm exposes real-time credit agreement, accrual balances, position information and transaction data to […]
Standard Chartered takes TradeIX and Infor route for digital trade finance drive
Standard Chartered is using TradeIX’s TIX blockchain platform and Infor’s GT Nexus Commerce Network for two separate digitalisation efforts in trade finance. The TradeIX platform enabled Standard Chartered’s unnamed client to “help its customers increase their payment terms whilst maintaining the company’s receivables at current terms”. The financing was offered by Standard Chartered with credit […]
Google’s Deepmind sets out to tackle AI ethics
If you ask the world of technology to slow down a bit, you’re instantly branded as a technophobe. But perhaps a bit of reflection is needed in the artificial intelligence (AI) arena, reports Telecoms.com (Banking Technology’s sister publication). Google’s Deepmind is one of those which is starting to think a bit deeper about the big, […]
IBM teams with big banks for blockchain-powered trade finance platform
Tech giant IBM has partnered with five banks – UBS, Bank of Montreal, CaixaBank, Commerzbank and Erste Group – to launch a blockchain-based trade finance platform. The new platform, called Batavia, is built to be accessed by organisations of all sizes anywhere in the world.
Takeaways (and Surprises) from 1,000 Fintech Startups
The Center for Financial Services Innovation recently released its 2017 FinLab Snapshot paper. And, if you think you know fintech, what we found may surprise you.
Use the Salesforce Luke… for your retail banking
Salesforce has unleashed “Financial Services Cloud for Retail Banking”, a new application that lets bank employees have a “complete view” of their customers and work collaboratively. New features in the application comprise a retail banking data model and console. This includes all customer data – such as bank accounts and personal identification documents – which […]
Barclays US Tests Personal Finance Tool
Barclays US is dipping its toe into the financial health business, testing a personal financial management tool that aggregates all of a customer’s Barclays credit cards, personal loans and savings products—as well as accounts with other banks—in one place.
Starling Bank Expands with Business Accounts
The competition to serve the financial needs of small businesses is heating up in the U.K., where consumer banking challenger Starling Bank is expanding into the business market,
DiverCity Podcast: diversity and inclusion in financial services
A new bi-weekly podcast is coming to the financial services sector – DiverCity Podcast – the first to showcase the industry’s progress and shortcomings in diversity and inclusion.
Blockchain and Bitcoin round-up: 2 October 2017
Blockchain-based commercial bonds on the Russian market, Bitcoin recognition in Japan and new digital currency in Dubai. Our latest blockchain and Bitcoin round-up features National Settlement Depository, bitFlyer and Dubai Economy. Starting off in Russia, the National Settlement Depository (NSD) has unveiled the first blockchain-based commercial bonds on the Russian market based on Hyperledger Fabric […]
