As MiFID II looms into view, Swiss bank UBS is leading a pilot that will use Ethereum smart contracts to improve the quality of counterparty reference data through anonymous reconciliation.
More than half of European banks foresee an increase in operational risk as the fintech revolution brings concerns about cyber-security, IT failures and outsourcing problems to the fore, according to research from the EBA.
Singapore's DBS is expecting to slash 75% of the running costs of its main data centre by shifting it to a cloud-based environment.
Compliance constitutes a major part of banks’ expenditure and new regulations such as PSD2 and the updated GDPR are adding fuel to the momentum of regtech, that strain of fintech that is coming increasingly to the fore.
OakNorth, a UK challenger bank targeting small- and medium-sized businesses, is looking to ramp up lending and license its technology around the world after raising £154 million from a group of international investors.
A year on from its launch, Thomson Reuters is doubling down on its Toronto technology centre, committing another US$100 million to the project, which will eventually be home to 1500 staffers working on areas such as cloud computing, big data and AI.
The European Central Bank says that, because they pose unique risks, it may start asking fintech firms seeking banking licenses to hold bigger capital buffers and larger liquidity.
UBS, IBM and car parts manufacturer ZF are working together to build a blockchain-based payments system that automatically collects fees for things such as parking and power charging.