Innovation

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What will drive capital markets firms to migrate to cloud in 2020 and beyond?

/cloud

What will drive capital markets firms to migrate to cloud in 2020 and beyond?

Legacy infrastructure cannot keep pace with the continuous automation, changing regulatory demands, dynamic market conditions and growing customer expectations in the financial services industry today, particularly in capital markets. Firms have started to realise the opportunities that come with cloud, redesigning operating models and implementing cost-saving measures to increase efficiency.

UK's Tech Nation announces latest fintech cohort

/startups

UK's Tech Nation announces latest fintech cohort

Thirty one UK scaleups have been selected to participate in the third cohort of Tech Nation's fintech programme.

EY: Sustainable goals in finance won’t be met with traditional behaviours

/sustainable

EY: Sustainable goals in finance won’t be met with traditional behaviours

Financial services firms must evolve their mindsets to both manage risk effectively and to ensure that the industry meets sustainable goals, according to Sandy Trust, sustainable finance consulting lead at EY and deputy chair of the IFOA’s Sustainability Board.

Finastra to prioritise tackling financial exclusion and SME funding issues

/inclusion

Finastra to prioritise tackling financial exclusion and SME funding issues

As part of its accelerated innovation mission and open cloud platform strategy, Finastra has set forth a plan to support nine million lives around the world and focus on resolving the SME funding gap, inequality in financial services and financial exclusion.

The fintech barbarians are no longer at the gate - they’ve been invited inside

/wholesale

The fintech barbarians are no longer at the gate - they’ve been invited inside

The paradigm of challengers and incumbents should be revisited in the light of widespread collaboration between the two, according to Tony McLaughlin of Citi and Mike Massaro, CEO of Flywire.

Swift outlines strategy to expand beyond financial messaging

/payments

Swift outlines strategy to expand beyond financial messaging

Interbank payment network Swift is to expand beyond pure-play financial messaging to offer member banks a range of transaction management services.

Covid crisis sparks innovation drive at UK banks

/covid-19

Covid crisis sparks innovation drive at UK banks

The Covid-19 crisis is spurring incumbent banks to shed costs and increase automation at speed, leading to surprising breakthroughs in agility and innovation nouse, according to a survey of 263 senior UK banking executives conducted by FT Focus on behalf of Appian.

How to combat payments fraud with machine learning in the cloud

/cloud

How to combat payments fraud with machine learning in the cloud

Financial services customers are operating with faster speed and greater agility in the payments space, now more than ever with the incremental volume of card-not-present transactions, accelerated adoption of contactless payments, and new financing options at the point-of-sale, among other key trends.

Look beyond London for the UK fintechs that will lead post-Covid recovery

/covid-19

Look beyond London for the UK fintechs that will lead post-Covid recovery

Echoing Prime Minister’s Boris Johnson pledge to 'double down on levelling up' the UK economy, Citi Bank’s Tony McLaughlin believes the country can become an even more friendly environment for fintech and should be looking outside “a small perimeter around Old Street”.

BBVA builds gender-neutral global chatbot

/retail

BBVA builds gender-neutral global chatbot

BBVA has kicked against the trend to assign female voices to artificial intelligence assistants with the launch of Blue, a gender-neutral chatbot trained to answer customer's everyday banking queries.

ABN Amro joins with Techstars in startup hunt

/startups

ABN Amro joins with Techstars in startup hunt

ABN Amro is collaborating with Techstars in a search for new startups capable of transforming financial services for businesses and consumers.

BBVA trials quantum computing to optimise investment portfolio management

/markets

BBVA trials quantum computing to optimise investment portfolio management

BBVA and Spanish startup Multiverse have run a proof-of-concept using quantum technologies to improve the process of dynamically optimising investment portfolios with market data.

Alipay Ant Forest, the catalyst for enabling citizen action towards carbon reduction

/sustainable

Alipay Ant Forest, the catalyst for enabling citizen action towards carbon reduction

According to the Green Digital Finance Alliance (GDFA), by introducing nudging and incentives on digital platforms, there is potential for substantial behavioural change among digitally-savvy consumers. This can act as a springboard for scalable global climate change mitigation and reduce 8.6% of emissions from public transport.

Icici applies satellite imaging to rural credit scoring

/payments

Icici applies satellite imaging to rural credit scoring

India's Icici Bank is using satellite imaging to assess the creditworthiness of farmers applying for loans.

Monzo, Starling and the lessons for challengers post-Covid

/retail

Monzo, Starling and the lessons for challengers post-Covid

Recent weeks have brought news of differing fortunes for two of the UK’s flagship digital challenger banks. With Starling confidently announcing it would break even by the end of 2020, Monzo has described “the significant doubt” that Covid-19 had cast on the bank’s ability to continue.

Starling: Two thirds of UK SMEs optimistic about Covid-19 recovery in 2021

/covid-19

Starling: Two thirds of UK SMEs optimistic about Covid-19 recovery in 2021

According to a survey of over 300 UK SMEs conducted by Starling Bank and the Great British Entrepreneur Awards (GBEA), 68% of small to medium-sized businesses believe they will return to pre-Covid levels of success in early 2021.

Discerning the impact of Covid-19 on fintech firms and their role in financial inclusion

/startups

Discerning the impact of Covid-19 on fintech firms and their role in financial inclusion

While the fintech industry is still evolving, the evidence so far indicates that it has a key role to play in financial inclusion, according to Ana Fiorella Carvajal, lead financial sector expert at World Bank. This role comprises not just the provision of basic services, such as payments mechanisms, but more recently also the provision of financing to consumers and SMEs.

InvestHK to run fintech Fast track programme

/startups

InvestHK to run fintech Fast track programme

Invest Hong Kong is to run a Global Fast Track programme to plug the best and brightest fintech startups directly into the territory's financial ecosystem.

RBI plans offline digital payments pilot, sets up innovation hub

/inclusion

RBI plans offline digital payments pilot, sets up innovation hub

The Reserve Bank of India is prepping an offline digital payments pilot to encourage the migration from cash in rural areas that lack internet connectivity.

Singapore establishes Asian Institute of Digital Finance

/retail

Singapore establishes Asian Institute of Digital Finance

The Monetary Authority of Singapore is to set up a specialist research institute to groom the next generation of fintech leaders.

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