Regulatory authorities in Abu Dhabi are kicking off a programme with a consortium of the region's banks to develop a shared KYC utility, possibly underpinned by distributed ledger technology.
Venture capital investment in UK fintech firms more than doubled in 2017 to reach $1.8 billion, with 54% of the total coming from overseas VCs who appear largely untroubled by the UK's imminent break from the European Union.
A senior executive at the Bank for International Settlements has delivered a scathing attack on bitcoin, deriding the virtual asset as a ponzi scheme and environmental disaster, and calling on central banks to act against the "invasive" spread of cryptcurrencies.
Cybersecurity takes top billing in the European Union's upcoming Fintech Action Plan, with a draft emphasising efforts to improve cooperation and coordination between market participants and regulators.
ION Investment group is to acquire Openlink Financial, continuing a treasury management investment buying spree which has seen it swallow up IT2, Financial Software Systems and Wall Street Systems.
Berlin based Penta, a challenger bank for startups and small businesses, has raised a €2.2 million seed round one month after launching in Germany.
Credit Suisse has added a new member to its IT support team - Amelia, an AI-powered virtual agent who helps thousands of the bank's human employees with their day-to-day tech problems.
The European Commission has launched a Blockchain Observatory and Forum with the express aim of supporting the EU's emerging fintech industry.
International depository Clearstream is collaborating with the University of Luxembourg to investigate the use of artificial intelligence in determining user expectations and functional specifications for new IT systems.
Bank of America Merrill Lynch has partnered with PayPal to enable business clients to make cross-border payments in local currencies with just an e-mail identifier.
© Finextra Research 2018