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News/Innovation
Bank of America has filed for or received more blockchain-related patents in the US than any other firm, beating out Mastercard and IBM for the top spot, according to research from law firm EnvisionIP.
17 January 2018
Banking cooperative Swift has signed an MoU with seven central securities depositaries (CSDs) to explore how distributed ledger technology (DLT) can be used to improve post-trade processes such as corporate actions, proxy voting and trade processing.
16 January 2018
One of China's senior financial regulators has stated that the government will only support fintechs that serve the real economy, casting further doubt on the future of virtual currencies and related technologies within China.
Having racked up nearly two million users in Austria and the Czech Republic, Erste Group is rolling out its PSD2-ready digital banking platform, George, in Slovakia.
15 January 2018
The EU's second Payment Services Directive (PSD2) took effect on Saturday 13 January, bringing with it the start of Open Banking, however the prospect of a sudden revolution is likely to be thwarted by unresolved technical and regulatory issues and a lukewarm reception from consumers.
The largest commercial bank in Russia, Alfa Bank, is developing a new digital cash service where all transactions will be transmitted and cleared via the blockchain.
As it books a $3.25 billion fourth quarter pre-tax charge related to the misselling scandal, Wells Fargo says it plans to make savings by closing around 900 branches by 2020.
12 January 2018
The industry body set up to promote the fintech sector in Scotland has named Stephen Ingledew as its first chief executive.
The craze for cryptocurrency mining is putting increasing strain on electrical grids, raising concerns about capacity around the world and the prospect of a migration of coin mining operators to new jurisdictions.
Shares in MoneyGram gained on Thursday on news that the old-school money transfer player has teamed up with Ripple to pilot the blockchain startup's XRP digital currency in its payments flows.
11 January 2018
As new technologies such as AI and DLT transform the capital markets landscape, the World Federation of Exchanges (WFE) has called on regulators to hold new fintech entrants to the same standards as established players.
Warren Buffett, arguably the world's most successful and respected investor, has issued a scathing assessment of cryptocurrencies and predicted a "bad ending" for the current bitcoin boom.
SETL, a blockchain-based settlement system for the investment funds industry, has gone live with its pan-European funds record keeping platform IZNES having successfully processed its first transactions.
Toronto-Dominion Bank has acquired Canadian Artificial Intelligence startup Layer 6 in a deal reportedly worth more than US$100 million.
10 January 2018
Photo firm Kodak has announced plans to develop its own cryptocurrency, KodakCoin, which it says will help photographers to control their image rights via a distributed ledger.
Capital One has acquired machine learning consultancy Notch as part of a progressive effort to develop data-driven products and services for its customer base.
08 January 2018
As Brexit negotiations grind on, London's fintech sector remains a hotbed of investment activity, capturing the lion's share of a £2.99 billion venture capital splurge on UK tech firms.
05 January 2018
Australia's Bankwest is inviting customers to join the wearable payment movement as it prepares for the release of a contactless payments ring which enable touch-and-go transactions with a fist pump at the point of sale.
04 January 2018
As Finextra pulls the shutters down on 2017, we take a look back at our most popular news stories, videos, and community engagement activities over the course of the past year. The site will re-open for business on 2 January 2018.
22 December 2017
Chatbot savings app Chip has crashed through the £1 million barrier in a crowdfunded effort to raise funds to apply for a banking licence.
21 December 2017
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