While Bloomberg continued to command the lion's share of financial market spending on data, analysis and news in 2016, the firm saw its terminal user base shrink for only the second time in its 36-year history.
Exemplifying the ongoing trend for large banks to join forces with smaller fintech companies, Stockholm-based Betalo has struck a deal with Nordea to offer its mobile money service to the bank's 1.8 million private customers.
Germany's KfW Bank says a system error led to the unintentional transfer of $5.4 billion to four counterparty banks in an automated cycle of repeat transactions.
Billon, a Polish e-money transfer startup backed up by distributed ledger technology, is set to enter the UK market having completed a successful trial of a corporate payout system with consumer research firm Conduct Research.
British financial services firms expect to increase IT spending at a healthy rate in the near future, according to a CBI/PwC survey which also shows that combatting cybercrime is a growing imperative for the industry.