News, analysis & resources
VEB issues core banking system tender
Russia

Russia-based Bank for Development and Foreign Economic Affairs (VEB), a state-owned development bank, has issued a tender for new core banking software.

FairFX gains e-money licence with takeover of digital banking service for SMEs, Q Money
Tony Quirke, founder of Q Money and new CFO of FairFX

FairFX, a London-based multicurrency payments service, has acquired Q Money and its e-money licence.

Fintech Acquisition Corp team returns to Nasdaq to raise $153m

The Fintech Acquisition Corp I team that raised $100 million through an IPO in February 2015, has returned a new blank check company – Fintech Acquisition Corp II. It seeks to raise $153 million.

Western Union to pay $586m fine for money transfer fraud

Western Union has admitted turning a blind eye as criminals used its money transfer services to launder money and commit fraud. It has agreed to pay a $586 million fine to the US authorities.

FIs and fintechs set up new industry group, Consumer Financial Data Rights

Financial services and fintech firms in the US come together to form a new industry group – Consumer Financial Data Rights (CFDR) – “to defend consumers’ access to their data and fuel innovation in fintech”.

Video: Banking Technology Awards 2016
Banking Technology Awards 2016

Our dazzling event gathered together over 260 banking and financial technology specialists from all over the world – recognising the excellence and innovation in the use of IT in financial services, and of course the people that make it happen! Join us at the 2017 awards, which will be held at a 5-star venue in London in Q4 this year.

Banking Technology Awards Video 2016
Banking Technology Magazine
Banking Technology Dec 2016 / Jan 2017 issue out now
Banking Technology Dec16-Jan17

The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.

Industry Comment
Financial innovation – a lifeline for SME funding
Katrin Herrling, Funding Xchange

Financial innovation is unlocking additional funding for small businesses that have been declined by their bank. Katrin Herrling, co-founder and CEO of Funding Xchange, explores.

Wearable technology in investment banking: watch your money on your watch
Smartwatch

How can wearable technology be made popular in investment/wealth management services? We suggest a number of features that can create value and relevance to individual traders and wealth managers, if made available on smartwatch trading apps.

PSD2: Who wins?

I was recently asked who the biggest winner would be to emerge post-PSD2, the banks or the fintech firms. If we ignore for a moment that the biggest winners are clearly you and I, the end consumer of these services, it did reveal an interesting thought process and dynamic at play.

Putting trust in chatbots

Artificial intelligence (AI) interfaces and chatbots could be revolutionary for financial institutions – but only if they strike the right balance between human and machine interaction.

Are we heading for an identity crisis in fintech?

Establishing if someone is who they say they are in today’s virtual world is a major headache for banks and fintechs, thanks to the strict regulations they operate under and the difficulty in providing non-physical, verifiable forms of identity.

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