Lemonade, a peer-to-peer insurance company, has launched in New York state, where it hopes to take on traditional players through a mix of clever technology and a charitable component.
Wealth management firms are falling short of client expectations when it comes to their use of technology, but established players in the field are likely to respond well to the digital revolution and will not be displaced by fintech insurgents, new research from Roubini ThoughtLab suggests.
Canadian Imperial Bank of Commerce, National Australia Bank and Israel's Bank Leumi have formed an "innovation alliance" that will see them share strategies for improving client services in the digital age.
More than one million incidents of financial fraud occurred in the first six months of 2016, according to official figures released by Financial Fraud Action UK (FFA UK), representing a 53% increase compared to the same period last year,
Asian investment house MarvelStone group is laying claim to the creation of the world's largest fintech hub, Lattice80, which will open in Singapore's Central Business District in November.
The Clearing House is to use an IBM Power8-based system infrastructure running Linux and AIX operating systems as the hosting platform for its forthcoming move to real-time payments.
JPMorgan Chase is buying a stake in InvestCloud as part of a deal that also sees the bank enlist the Californian fintech startup to boost its digital capabilities for individual investors. The size of the investment has not been revealed.
In the latest blockchain experiment carried out under the R3 banner, major banks including Citi and HSBC are looking into how distributed ledger technology can be used to simplify reference data processes.
Lloyds Banking Group is on the hunt for a head of "fintech discovery" to help lead its £1 billion, three year digital transformation programme.
In the wake of the $81 million Bangladesh Bank hack, Swift is prepping a new tool designed to help banks pick up on fraudulent transfers by sending them daily reports of their payment message flows.
© Finextra Research 2016