Welcome to Finextra's live coverage of the Swift Business Forum in London. This year’s conference will focus on the key issues affecting the financial industry, particularly as they impact UK and global markets. In an ever-increasing ‘instant’ world, the agenda will look at how financial institutions can stay resilient and secure, while continuing to innovate and navigate change.
BBVA's ongoing strategy to buy out promising fintech startups has moved ahead with the acquisition of Mexican B2B payments platform Openpay.
Interbank messaging network Swift has rounded up an initial group of six leading correspondent banks to participate in proof-of-concept trials to determine if distributed ledger technology could help banks reconcile their nostro databases in real time.
Standard Chartered has initiated proof-of-concept trials on robo-advisory services and blockchain with two startups graduating from Hong Kong's SuperCharger Fintech Accelerator programme.
Former UK government minister Mark Simmonds has teamed up with fintech veteran Hirander Misra on a venture that aims to help African smallholder farmers boost their earnings by connecting them with local commodity exchanges.
Manchester, UK-based payments router AccessPay has secured £2 million in debt financing from Clydesdale and Yorkshire Bank amid plans for a recruitment drive and expansion into US markets.
Features and analysis
American musician will.i.am has become a strategic board advisor at Atom, calling the new UK app-based bank's bid to change the industry through technology "awesome".
Flux, a fintech startup founded by three of the first four employees of money transfer firm Revolut, has begun pilot trials of a service to convert paper til receipts to mobile data services in partnership with retail chains Eat and Bel-Air and digital challenger bank Monzo.
The National Bank of Canada has acquired a 22% stake in Ongo, a mobile money service with big plans for expansion in Myanmar.
API-based transaction network Token has secured $15.7 million in Series A funding from major investors including Octopus Ventures, EQT Ventures and OP Financial Group as it bids to capitalise on opportunities from the forthcoming implementation of the PSD2 directive in Europe.