Credit risk

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OakNorth wins tech deal with NIBC Bank

/Credit risk

OakNorth wins tech deal with NIBC Bank

OakNorth has signed a five-year deal with Dutch lender NIBC Bank in the first publicised sale by the British lender of its credit decisioning platform.

JPMorgan Chase pledges $125m to fintech-focused financial health initiatives

/inclusion

JPMorgan Chase pledges $125m to fintech-focused financial health initiatives

JPMorgan Chase will give $125 million over the next five years to non-profits working around the world to improve the financial health of underserved communities, focusing on the use of fintech tools to help people save, boost their credit and reduce debt.

SoGen issues covered bond as security token on Ethereum

/Credit risk

SoGen issues covered bond as security token on Ethereum

Societe Generale has issued EUR100 million of covered bonds as a security token, directly registered on the Ethereum blockchain.

Automation could displace 40 FS industry job roles - Singapore study

/Credit risk

Automation could displace 40 FS industry job roles - Singapore study

Dozens of financial services job roles will see much of their work taken by data analytics and automation in the next few years, according to a new report from Singapore, which is preparing for the radical workforce shift with a new career training programme focused on emerging technology roles.

Tackling digital transformation in Nordic financial services

/Credit risk

Tackling digital transformation in Nordic financial services

SWIFT's Business Forum Nordics event examined how the financial services community in the region can deliver technological innovation while managing emerging risk factors.

Money 20/20 Asia: Leveraging data to provide the unbanked with credit

/inclusion

Money 20/20 Asia: Leveraging data to provide the unbanked with credit

Money 20/20 Asia day three opened with a detailed discussion on reaching the unbanked in South East Asia, following an age in which financial inclusion has been driven by regulatory and policy mandates. Today, the ‘financial inclusion market’ is leveraging data analytics to offer a greater choice for consumers and expand in areas that financial institutions previously avoided because of increased paperwork.

Experian joins $11m funding round for credit scoring startup Aire

/Credit risk

Experian joins $11m funding round for credit scoring startup Aire

Aire, a fintech startup bidding to make credit "fairer" for consumers, has raised $11 million in a Series B funding round led by Crane Venture Partners and joined by Orange Digital Ventures and the venture arm of Experian.

Challenger bank Chetwood gets UK banking licence

/Credit risk

Challenger bank Chetwood gets UK banking licence

Chetwood Financial, which is backed by UK hedge fund Elliott Management, is the latest challenger bank to be granted a full UK banking licence.

ING develops early warning system for credit risk

/ai

ING develops early warning system for credit risk

ING has partnered with Google and PwC to develop an AI-enabled system capable of crunching huge volumes of financial data in search of hidden signals that indicate heightened levels of credit risk.

Switzerland adopts new fintech authorisation rules

/Credit risk

Switzerland adopts new fintech authorisation rules

The Swiss government has amended its Banking Act to include new authorisation rules for fintechs in its latest bid to boost innovation in the sector.

ECB launches real-time payments system

/Credit risk

ECB launches real-time payments system

The European Central Bank has unveiled its response to the rise of digital wallets with the launch of Target Instant Payments Settlement (TIPS), a pan-eurozone instant payments system.

Frankfurt claims $800bn in assets will move from London after Brexit

/Credit risk

Frankfurt claims $800bn in assets will move from London after Brexit

Between €750-800bn in assets will move from London to Frankfurt as a result of a Brexit-led exodus of banks from the UK.

BBVA-backed startup helps Americans fix inaccurate credit reports

/startups

BBVA-backed startup helps Americans fix inaccurate credit reports

Upturn, a US startup incubated by BBVA, has officially launched, offering a free online tool that simplifies and streamlines the process of disputing inaccuracies on people's credit reports.

eBay’s AI algorithm proves good behaviour analysis is key to identifying credit card fraud

/security

eBay’s AI algorithm proves good behaviour analysis is key to identifying credit card fraud

A report published by two eBay executives reveals that the online flea market's new AI algorithm can identify 40% of credit card fraud transactions with high precision, a significant finding for a sector relying on tech-based detection techniques.

Trainee trader sues UK broker for £10m over trading platform mix-up

/Credit risk

Trainee trader sues UK broker for £10m over trading platform mix-up

A French day trader is suing UK broker Valbury Capital after it voided the €10m profit he had accrued using what he thought was a demo version of its trading software but which turned out be a live account.

ECB's Hakkarainen warns on IT outsourcing risks

/Credit risk

ECB's Hakkarainen warns on IT outsourcing risks

As the digitalisation of banking gathers pace, outsourcing of key IT services to third parties poses an increasing risk to the sector, warns a senior European Central Bank figure.

Live: Swift Latin American Regional Conference - day one

/Credit risk

Live: Swift Latin American Regional Conference - day one

Welcome to Finextra's live coverage of the Swift Latin American Regional Conference 2018, in Miami. This event will focus on important issues affecting the financial industry in the region, and how the financial community can seize the opportunities that are emerging.

Sageworks bought by PE firm Accel-KKR

/Credit risk

Sageworks bought by PE firm Accel-KKR

Sageworks, an old-school fintech that provides lending, credit risk and portfolio risk technology to US financial institutions, has been acquired by private equity firm Accel-KKR. Financial terms were not disclosed.

Finastra blockchain-based tool for syndicated lending market goes live

/Credit risk

Finastra blockchain-based tool for syndicated lending market goes live

Finastra has made its blockchain-based Fusion LenderComm tool for firms operating in the syndicated lending market commercially available as an app on R3's Corda platform.

Silver Lake buys $500m stake in Credit Karma

/Credit risk

Silver Lake buys $500m stake in Credit Karma

Private equity firm Silver Lake is buying a $500 million stake in personal finance technology outfit Credit Karma from existing investors.

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