Latest Wholesale banking News: Finextra Research

Visa invests in Indian B2B payments firm PayMate

Visa has joined a $25 million funding round in Indian B2B payments company PayMate.

22 July 2019

As blockchain hype subsides, banks count the cost of early euphoria

Banks and technology companies have poured billions of dollars into blockchain projects, but as the hype dies down, many of the early evangelists for the technology have come to the conclusion that production-ready deployment still remains a distant goal.

19 July 2019

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Swift connects with Singapore's Fast to slash cross-border payment times

Banking co-operative Swift is touting the succcess of its integration with Singapore's domestic instant payment service, slashing the time taken to process inbound cross-border message transfers to as little as 13 seconds.

18 July 2019

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Temenos buys Explainable AI firm Logical Glue

Swiss banking software provider Temenos has acquired Logical Glue, a London-based Explainable AI (XAI) specialist with financial services customers in the UK and Europe. Financial terms were not disclosed.

18 July 2019

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Top US banks unite for 'Fintech Focus' coding bootcamp

Bank of America, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo are to turn their New York offices into coding bootcamps for under-represented college students in a new initiative intended to increase the representation of women and people of colour in software engineering within the financial services industry.

17 July 2019

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UK banks back Investing in Women Code

Plans to increase the number of British female entrepreneurs by 50% have taken a leap forward, with major banks and venture capital firms signaling their support for Investing in Women Code, a UK Government-backed initiative to improve female entrepreneurs’ access to finance, resources and tools.

17 July 2019

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Machine says no: FCA to explore the 'explainability' of AI in consumer finance

The UK's Financial Conduct Authority is partnering with the Alan Turing Institute to explore the transparency and explainability of AI in the financial sector.

16 July 2019

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Brexit be damned: UK fintech sector sees record growth

UK fintech startups have reached a record level of $2.9 billion of funding in the first half of this year, across a total of 123 deals.

16 July 2019

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BMO taps Demica supply chain finance tech

Bank of Montreal is joining forces with working capital outfit Demica to provide clients with supply chain finance options.

15 July 2019

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The old rules no longer apply: Risk management and regulatory reporting in the cloud

Deploying new applications on the cloud is now the default. The question is not if applications should be built in the cloud or existing workloads should be migrated, but how fast can financial institutions (FIs) remove traditional IT constraints in the age of digitalisation.

12 July 2019

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How to build the regulator’s confidence in the cloud

When moving to the cloud, meeting all risk, legal and compliance requirements is non-negotiable. The key question regulators are asking financial services providers is whether they have identified the operational risks associated with migrating to cloud computing, and if banks understand the process of managing these obstacles.

12 July 2019

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UK banks commit £6.5 million to tighten money laundering controls

The UK's major banks are to pump £6.5 million into a project to reform the Suspicious Activity Reporting regime, under a Home Office project to crack down on economic crime and money laundering abuses.

12 July 2019

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