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News/Innovation
Four major banks, the DTCC and Markit have announced the completion of a successful test of the use of distributed ledger technology and smart contracts to manage post-trade processes in the credit default swaps market.
07 April 2016
Australian bank stand to lose up to A$13 billion in aggregated revenue to fintech startups, according to research from Frost & Sullivan.
Jonathan Quin, founder and CEO at money transfer firm WorldFirst detects a step-change in bank relationships with fintech startups at the Money20/20 show in Copenhagen.
Citi has been playing around with Microsoft's HoloLens holographic headset, building a virtual workstation that lets traders view data as 3D images.
Yes Bank is to set up a 'centre of excellence' for fintech startups in the Southern Indian state of Telangana.
Social payments outfit Circle - which enables sterling, dollar and bitcoin money transfers across popular messaging platforms and other media - has launched in the UK with the support of Barclays Bank and an e-money issuer license from the Financial Conduct Authority.
06 April 2016
Atom Bank, the mobile-only startup that uses face and voice biometrics plus machine learning technology to service consumers, has gone live in the UK following the lifting of regulatory restrictions.
Singapore is looking into the creation of a payments system similar to the UK's Paym that would let someone send money using only the recipient's mobile number, email address or social network account.
The Royal Bank of Canada (RBC) is teaming up with the University of Toronto on an accelerator for students, entrepreneurs and startups.
After six months of development, the R3 consortium has unveiled its Corda distributed ledger platform for recording and managing financial agreements.
05 April 2016
New use cases for the adoption of blockchains in finance are appearing every day, with Bank of Ireland and BNP Paribas the latest to demonstrate the disruptive potential of the technology
Distributed ledger consortium R3 has struck a deal with Microsoft that will see the tech giant provide cloud-based tools, services and infrastructure for R3 lab locations around the world.
04 April 2016
Banco Santander is to leverage its recent multi-million dollar investment in Kabbage to offer working capital loans to UK small businesses through the online lender's platform.
Simple, the US digital bank that BBVA bought in 2014, will be moving all its customer accounts to BBVA Compass later this year, becoming the first user of the Spanish bank's API in the United States.
The world's investment banks must look to the experiences of the automotive and aircraft manufacturing industries in the battle to remain relevant in a new data-driven digital era says consultancy firm GreySpark Partners.
National Australia Bank has appointed a pair of seasoned venture capital investors to run the rule over fintech startups applying for a slice of its recently launched $50 million innovation fund.
Almost a third of the money invested in African startups was gobbled up by new fintech firms, according to research from Disrupt Africa
01 April 2016
The Singapore government is launching a dedicated office designed to help fintech startups set up in the country.
Branch, a startup promising to bring lending to people in developing nations by using data stored on their mobile phones to make credit decisions, has raised $9.2 million in a Series A funding round led by Andreessen Horowitz.
31 March 2016
US bank Citi has forecast that the continued growth of fintech startups will mean 30% of bank staff will lose their jobs over the next ten years.
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