Distributed ledger technology has the potential to revitalise loyalty rewards programmes by replacing fragmented and clunky systems that depend on centralised administration with a trustless, digitised interlinked network, argues a new report from Deloitte.
Distributed ledger technology may be the "most significant development in many years" for payments, clearing and settlement, according to a Federal Reserve governor who says that the central bank will publish its own blockchain paper later this year.
Emirates NBD and India's Icici Bank have successfully completed a pilot project to deploy a permissionable blockchain for international remittances and open account trade finance transactions.
A blockchain-based startup for trading in growth companies founded by former Nasdaq Tallin stock exchange head Kaidi Ruusalepp has raised $2.6 million in a funding round led by Draper Associates, Thomson Reuters, and IQ Capital.
Wells Fargo has created a payments, virtual solutions and innovation group led by 23-year bank veteran Avid Modjtabai.
JPMorgan Chase, Icap and Barclays are among the big names that have joined a $30 million Series A funding round for cloud-based trading communications provider Cloud9 Technologies.
Lloyds Banking Group is sharpening the axe once again, announcing plans to cut a further 1,340 jobs as part of a cost-cutting strategic review.
Crowdcube has named former Citigroup and HSBC executive Simon Williams as chairman, hailing the appointment - and an investment by Williams in the business - as a clear indication that equity crowdfunding has moved into the mainstream world of finance.
The Reserve Bank of India has moved to redefine ATMs in remote rural areas as bank branches, to counteract the decline in traditional full-feature outlets and improve financial inclusion.
While three quarters of banks are actively experimenting with blockchain technology, regulatory uncertainty and a lack of inhouse expertise are proving major roadblocks to near-term adoption, according to research from SIX Securities Services.
© Finextra Research 2016