The UK online alternative finance market grew 43% in 2016 to reach £4.6 billion, buoyed by increased institutional investment and a sustained pick up in innovative business lending models.
Nordea has become the ninth banking member of the we.trade consortium, which is building a shared platform that aims at making domestic and cross-border commerce easier for European companies by harnessing the power of distributed ledger technology.
The final day of SOFE 2017 was dominated by the topic of cyber security. The closing plenary covered three key elements to this challenge: the evolution of the threat landscape, new technology and the evolution of Swift's Customer Security Programme (CSP), and the regulatory perspective.
The future of money, how we use data and the dizzying advances in digital technologies dominated the opening discussions at the annual Swift Operations Forum Europe (SOFE) convention in Amsterdam.
Cyber-crooks have significantly upped their game in the last 18 months, developing sophisticated new tools and techniques to hack into bank systems, warns a new report from Swift.
Credit Suisse has acquired a majority stake in alternative finance startup Tradeplus24 and plans to offer the Zurich-based firm's lending platform to its own SME customers.
BBVA has applied blockchain technology from Wave to reduce the time taken to submit, verify and authorise an international trade transaction from seven to ten days, to just 2.5 hours
Standard Chartered, Axis Bank and Rakbank have begun to use RippleNet to send live cross-border payments on behalf of corporate clients and migrant workers.
Allied Irish Bank has invested EUR30 million in local B2B payments platform TransferMate, valuing the company at up to Eur300 million.
Central banks will use distributed ledger technology (DLT) to settle high-value interbank payments within the next five to ten years, predicts the chief executive of Ripple.
© Finextra Research 2017