Market News

Global technology company HCL Technologies, has been recognized as a leader in providing next-gen Application Development and Maintenance (ADM) for the banking, financial service and insurance sectors, according to the latest ISG Providers Lens TM Quadrant Report. According to ISG, HCL has emerged as a leader among service providers because of its rich toolset, strategic […]Read More

Finastra has appointed Siobhan Byron as Senior Vice President and Head of Technology Enabled Managed Services (TEMS). In this role, she will oversee planning and execution, sales and marketing, research and development and product management across four lines of business including Checks, Enhanced Services, Student Lending and Canadian Mortgage Technology, all in the Canadian market. […]Read More

Cryptocurrencies are poised to enter the financial services mainstream, a senior fintech executive has claimed. Adina Ahmed, Chief Operating Officer at payment service provider Anderson Zaks, said she foresees crypto being accepted widely for retail payment before long. “Once the preserve of geeks, gamblers and money launderers, cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Dash, Ripple, […]Read More

A survey by the Competition and Markets Authority on the state of UK banking customer experience has revealed that many still value the reassurance of a high street institution. Andrew Stevens, global banking and financial services specialist at customer communication expert Quadient commented that this finding is to be expected. “It is telling that the […]Read More

British online payments startup GoCardless has secured a $75 million investment from the venture capital arms of Alphabet Inc.’s Google and Salesforce.com Inc to fund its international expansion. The Series E Investment round was led by new investors Adams Street Partners, GV (formerly Google Ventures) and Salesforce Ventures, as well as existing investors: Accel, Balderton […]Read More

Sberbank, the Russian banking and financial services company, has created a new model of machine learning- Auto ML, an algorithm that can create other models, according to Anatoly Popov, the Deputy Chairman of the Executive Board at Sberbank. The algorithm created can reportedly, create other models which solve application tasks quicker than a human. This was […]Read More

Monese (a UK based banking service) has entered into a strategic partnership with Avios, a loyalty currency platform. This partnership will allow Avios’ users to track their balance and transactions. Customers can track and manage all travel and finances, including Avios earned on any credit cards, in one place, via one app. According to the company, […]Read More

Profile Software, a Greece-based financial services provider, has announced the release of its omnichannel and investment management solution Axia Suite 2.1. Axia Suite is reportedly capable of delivering investment management, compliance and reports as well as, it supports the operations of Wealth Management, Asset & Fund Management, Custody Services and Robo-Advisory on the same platform […]Read More

Travel technology player Paxport and API platform Modulr have joined up to provide a new payment solution for online travel agencies and tour operators. Called Pax2Pay, Paxport said it can offer customers multiple payment methods and currencies, including virtual cards, Faster Payments and SEPA, with more payment methods to be added soon. Pax2Pay is also […]Read More

Incumbent banks view tech giants such as Amazon, Google and Facebook as a major threat, with over a quarter predicting that these companies will be their main competition within three years, new findings have revealed. Technology consultancy Cognizant conducted research into the major threats facing the banking industry, analysing responses from 300 European banking executives […]Read More

J.P. Morgan has announced the creation of a digital coin(named JPM Coin) representing a fiat currency and has become the first US bank to test and create a digital currency. According to Umar Farooq, head of Digital Treasury Services and Blockchain, the JPM digital coin is designed for instant payments using blockchain technology. It is to […]Read More

Spanish retail bank, Caixa Bank, has announced the offering of facial recognition technology at its ATMs. The new system, developed in collaboration with Fujitsu and Facephi, was introduced by the company at a press conference on Sunday. According to the company, the objective of developing this facial recognition technology in ATMs is to provide the customers with better […]Read More

Digital banking group, Fidor solutions, has announced its new chatbot developed in collaboration with Finn AI, an AI-powered conversational banking technology. This makes Fidor one of the pioneers of digital banking service providers to embed a virtual assistant in its technology stack. The conversational bot is part of Fidor’s strategy to accelerate the adoption of AI, Machine […]Read More

  Barclaycard commercial payments ( a part of Barclays Bank PLC) has announced a partnership with SAP UK Limited, which will see Barclaycard integrate its business to business product, PrecisionPay into SAP Ariba solutions. This will bring procurement and payment in one place, Ariba Network- with PrecisionPay Bank Transfer to be the first BarclayCard product to be […]Read More

Following the FCA’s warning that Brexit could cause a surge in market abuse as regulatory surveillance declines, a leading fintech executive has suggested that the problem extends outside UK borders. Julia Hoggett, the FCA’s director of market oversight, warned in a speech this week that surveillance might become ‘patchier’ in the aftermath of the financial […]Read More