Digitalisation is set to transform most aspects of the financial industry. Far from resisting it, banks should be embracing these fundamental changes, says Oliver Bussmann, group CIO at UBS.
Blockchain outfit Blockstream has raised $55 million in a Series A funding round led by Horizons Ventures, AXA Strategic Ventures, and Digital Garage.
Bank of Tokyo-Mitsubishi UFJ (MUFG) is the latest financial services giant to confirm it is experimenting with distributed ledger technology, creating its own digital currency as it seeks to find ways to bring down the costs of transactions.
BBVA has highlighted the role played by its digital transformation strategy in pushing the bank's earnings potential, saying that 19.2% of consumer loans in Spain last year were made purely through digital channels, double the number sold in the previous year.
UK challenger bank Mondo has released its first set of developer tools to early test users of its digital banking account, promising to make it easier for non-developers to create their own banking apps.
UK rail operators are piloting a new barcoded m-ticket delivered direct to passenger smartphones as a replacement for the familiar orange paper tickets used for travel today.
European clearing and settlement agency Euroclear has called on financial market participants to collaborate and embrace the long-term potential of blockchain technologies for cutting IT costs and driving down post-trade and securities servicing fees.
The European Commission is proposing a raft of measures - from closer monitoring of bitcoin and cash transactions to the creation of national payment account registers - as part of an action plan to strengthen the fight against terrorist financing.
Days after buying fellow bitcoin exchanges Coinsetter and Cavirtex, Kraken has scored a multi-million dollar investment from Japanese venture capital firm SBI Investment.
Goldman Sachs and IBM have jumped aboard Digital Asset Holdings' recent investment round, taking the blockchain startup's haul to more than $60 million.
© Finextra Research 2016