These trends were also seen in fintech employment in these economies. Fintechs in countries with more lockdown restrictions reported an average of 10% increase in full-time employees, while fintechs in economies with fewer lockdown restrictions actually saw their full-time staff decrease by 19%.
Visa To Acquire YellowPepper, Strengthening Latin American / Caribbean Fintech Capabilities
YellowPepper will facilitate an easier integration to Visa Direct, Visa’s real-time push payments platform, Visa B2B Connect, Visa’s non-card-based payment cross-border B2B network, and value-added services.
Next 2 Years To See Massive Disruption of Financial Services By AI According To Study
A new survey released by the World Economic Forum and the Cambridge Center for Alternative Finance (CCAF) finds nearly two-thirds (64%) of financial services leaders expect to be mass adopters of AI (Artificial Intelligence) in the next two years compared ...
Everest Group Shows How Banks Can Leverage Technology To Deliver Superior Banking Experiences
Banking is in dire need of transformation. Some banks get it, others are destined to be left behind. For innovation in banking, look to challengers like Apple with its new Apple Card and “neobanks” like Monzo. Although the threats are ...
Commercial Banks Increasingly Partnering With Fintech Providers To Improve Customer Experience
More than three-quarters (78%) of US commercial banks are considering new fintech partnerships in 2019 in a bid to improve customer experience (42%) and achieve real-time visibility (40%) according to a new industry report, released today. The research, commissioned by ...
BBVA Compass Makes Larger Push Into Digital Lending Space
"There is a clear demand on the part of consumers for personal loans," said Shayan Khwaja of BBVA Compass.
Confirmed: Amex Paid $13.3 Million USD to Acquire Digital Payments Startup Cake Technologies
In a transaction last year, credit card giant American Express acquired U.K. digital payments startups Cake Technologies, the global financial firm recently confirmed.
Experian to Acquire London Fintech Startup ClearScore for $385 Million
In a massive deal, Experian is set to acquire London-based fintech startup ClearScore for $385 million.
European Union to Propose New Standards for Blockchain Technology
The EU will propose common standards for blockchain in an effort to create more clarity and encourage fintech innovation.
Bank of Tokyo-Mitsubishi UFJ Adopts Robotic Process Automation Solutions by Kofax
The has opted to implement the robotic process automation solutions, Kofax Kapow and Kofax TotalAgility, to overhaul its legacy infrastructure.
JPMorgan Chase Jumps Deeper into FinTech Game with Acquisition of WePay
WePay will continue to operate as a standalone company and receive additional resources from JPMorgan Chase to continue to grow.
Survey: Two-Thirds of UK Businesses Are Embracing FinTech
The most popular reported use for fintech, with 32% of respondents, has been connecting with online lenders.
France and Sweden Continue to Grow as FinTech Hubs
The U.K. and Germany remain the fintech leaders in Europe, but the growth of two other markets shows that location is less important than ever.
Chinese Firms Adopting FinTech with More Urgency than Rest of the World
PwC report: “Traditional institutions are transforming themselves at a pace not seen before with greater urgency than in most other markets."
Interview: Unisys Rolls Out Its Elevate Omnichannel Platform for Banks
Unisys recently launched its new banking solution Elevate, an onmichannel platform that aims to improve the customer experience.
Mizuho Financial Group of Japan Will Open New FinTech Venture in June
Though Mizuho will only take up to a 15% stake in the new venture, it believes the endeavor will help it innovate outside of the stuffy culture within the bank.
KPMG Launches Innovation Center in New York and Acquires FinTech Firm Matchi
KPMG's new innovation center in New York aims to help serve clients build better technology-based solutions in disruptive sectors.
Wells Fargo Adds ProxToMe and Uniken to Startup Accelerator Roster
Uniken's CEO says being selected for the Wells Fargo Startup Accelerator program "is a great validation of our innovation in delivering great security.”
Barclays Opens ‘Rise London’ FinTech Co-working Space
With Rise London, Barclays hopes to create new fintech-based products and services, experiment with emerging technologies, and spot early trends.
Lloyds Banking Group Partners with Microsoft on Biometric Authentication for Account Holders
"Devices will recognize the user rather than having to remember an assortment of letters and numbers that are forgotten or could be guessed," said Lloyds.
Spain’s CaixaBank Named Model Bank of the Year by Celent
The award, handed out annually by Celent, aims to honor the best use of technology in different areas critical to success in banking.
IMF Establishes FinTech Task Force to Study How Technology Is Changing Finance
The new IMF working group will study the many economic and regulatory implications of the technological developments that are changing the world of finance.
Outsourcing and Global Services Outlook 2017: Everything Is Changing
Customers and providers that adopt the “as a service” model will find themselves relatively insulated from political winds — and perhaps better positioned for the wider evolution already underway.
Customer Service Is More Important Than Ever in an Era When Consumers Think Banks Don’t Care
"Succeeding in this new competitive landscape requires a rigorous focus on customer care," says Atul Garg of Protiviti.
Why Money Is Soon Coming to an End
More and more economists continue to insist on the theory that bills will come to an end.
Can Banks Compete in the Fintech War? A New Report Offers a Strategy
Banks must be proactive if they hope to survive in a world where fintech startups can offer the same services at a fraction of the speed and cost.
OFX 2.2 Released with OAuth-Token based Authentication
MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–The Open Financial Exchange (OFX) Consortium last Thursday released OFX 2.2 for public comment. The updated specification offers financial institutions safe and secure data aggregation as well as enhanced data element support which includes support for credential-less OAuth or similar ...
Financial Processors Expected To Benefit From EMC DSSD D5 Rack-Scale Flash Storage
EMC Corporation (NYSE: EMC) last week announced EMC DSSD D5 rack-scale flash storage. Designed for the most data-intensive applications which require extreme levels of performance and the lowest possible latency, the DSSD D5 is designed to improve fraud detection, credit ...