Multi-bank foreign exchange counterparty CLS is to build a payments netting service for trades settled outside the core membership using distributed ledger technology based on Hyperledger Fabric.
Idea Bank, a Polish lender focussed on small businesses, is boasting that the free office facilities that it provides entrepreneurs have proved so popular that it is being forced to close them to non-customers.
BNP Paribas says it has entered 'co-development mode' with clients to pilot a number of blockchain applications for transaction banking, after embarking on a collaborative process during its ‘Blockchain Bizhackathon’ earlier this year.
PayPal is teaming up with electronics manufacturer Lenovo and chip maker Intel to let users authenticate payments on their PCs with a fingerprint.
IBM and China UnioPpay have demonstrated a blockchain prototype for loyalty bonus points exchange among multiple banks.
The Innovation Engineering team at Royal Bank of Scotland has built a Clearing and Settlement Mechanism (CSM) based on the Ethereum distributed ledger and smart contract platform.
Barclays is to stage a simultaneous two-way hackathon between its fintech hubs in Manchester and Mumbai to provide startups with a chance to showcase their innovations to top decision makers at the bank.
In the latest example of a bank bidding to ditch the pinstripes in favour of hoodies, HSBC is apparently on the hunt for a major fintech-focussed office space in the heart of London's hipster scene, Shoreditch.
The UK's Financial Conduct Authority has accepted 24 applicants, from a total of 69, to participate in its fintech sandbox, where innovative financial products can be tested before proceeding to authorisation.
Delivering financial services by mobile phone could raise the GDP of all emerging economies by six percent to $3.7 trillion over the next ten years and create 95 million new jobs, according to research by McKinsey Global Institute.
Finextra will be hosting a roundtable in NYC on 4 October that will explore banks’ progress in securing their role in the digital ecosystem.
© Finextra Research 2016