Innovation

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/Innovation

New DLT consortium forms for syndicated lending market

A consortium of fintechs and banks has developed a distributed ledger technology (DLT) platform for the syndicated lending market.

/Innovation

Aviva succumbs to allure of robo-advice with Wealthify purchase

UK insurer Aviva has acquired a majority stake in a startup robo-adviser for an undisclosed sum.

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Singapore and Thailand look to link e-payment schemes

Thailand and Singapore have announced tentative plans to integrate their respective e-payment schemes in a bid to promote digital banking, according to a Bloomberg report.

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TD Bank opens Israel cybersecurity office; injects AI into mobile app

Toronto-Dominion Bank is looking to tap into Israel's world-renowned cybersecurity talent pool through the opening of a Tel Aviv office. Meanwhile, the Canadian bank is also giving its app an AI boost through a partnership with Kasito.

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Three UAE startups make it to Visa Everywhere finals

Three companies from the UAE’s dynamic technology startup community have made it to the finals of Visa’s Everywhere Initiative, an innovation program designed to encourage the development of the next big thing in payments.

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Law firm Addleshaw Goddard opens applications for second fintech programme

Following the resounding success of 'AG Elevate', originally launched in November 2016, Addleshaw Goddard has today announced its 2018 programme to support FinTech growth with an expanded program for participants.

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"Alexa, ask my bank, what is my balance?"

NCR is working with Maine-based Town & Country Federal Credit Union to train Amazon's voice commerce assistant Alexa to respond to spoken requests for bank account information.

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Peter Memon joins Synechron as head of emerging technology

Synechron, Inc, the global financial services consulting and technology services provider, has today announced Peter Memon has joined the company as its new Head of Emerging Technology.

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Canadian lenders issue open banking warning

The Canadian Bankers Association says the government should think carefully before embracing open banking, warning that increasing third party access to financial data poses major risks not only to customers but to the entire economy.

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IMF chief says banks would be unwise to dismiss the threat from virtual currencies

IMF managing director Christine Lagard believes virtual currencies might just give existing currencies and monetary policy a run for their money.

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PSD2: Brits don't trust retailers and social media platforms with bank details

As the revised Payments Service Directive (PSD2) nears, research from Accenture suggests that banks still have a strong trust advantage over third-party providers, with a clear majority of Brits unwilling to share their financial data with the likes of retailers and social media platforms.

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Hong Kong prepares for a new era of 'smart banking'

The governor of Hong Kong's central bank has spelled out a series of up-and-coming reforms - from the introduction of faster payments to open API standards - intended to prepare the territory for a revolution in retail banking services.

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Dubai Economy preps digital currency

Government-backed development agency Dubai Economy has signed an MoU with UK-based smart ID firm Objet Tech to help create and implement emCash, an encrypted digital currency, which people will be able use to pay for various government and non-government services.

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Hong Kong regulator opens sandbox

The Securities and Futures Commission (SFC) today issued a circular announcing the launch of the SFC Regulatory Sandbox to provide a confined regulatory environment for qualified firms (Note 1) to conduct regulated activities utilising financial technologies (Fintech).

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Timex embeds bPay contactless chip into watchstrap

Timex is to release a watch capable of making contactless payments by incorporating the Barclaycard bPay chip into the leather watchstrap.

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Chilean regulator SBIF joins R3

The Superintendency of Banks and Financial Institutions of Chile (Superintendencia de Bancos e Instituciones Financieras or “SBIF”) recently joined the global network of members of the enterprise software company R3, as a regulatory member, which will allow it to stay up-to-date on the latest advances and implementations of Distributed Ledger Technology (“DLT”) in financial services.

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HK accelerator SuperCharger connects with fintech learning platform CFTE

Delivering on its vision to create a global Fintech ecosystem, the Centre for Finance, Technology and Entrepreneurship is pleased to announce a new partnership with SuperCharger, the leading Fintech accelerator in Asia with offices in Hong Kong and Malaysia.

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HSBC moves into open banking

HSBC is testing a platform that lets customers see all of their accounts, no matter who the provider, on one screen.

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Fulfilling KYC and on-boarding obligations

Caitlin Sinclair, Senior Client & Commercial Strategist, KYC Managed Service, Thomson Reuters, talks about the evolution of KYC, the client, data and regulatory challenges that come with it and how, as a response, there has been a move towards more streamlined regulations to encourage the adoption of more widespread innovative solutions.

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Electron wins UK Government Award to advance blockchain in balancing electricity markets

Electron, a London-based energy tech company, today announced that it has been awarded substantial funding from the Government's Energy Entrepreneurs Fund to prove how blockchain will transform the market for balancing the electricity grid.