Financial ServicesRSS

Transatlantic trio gets tough on financial crime

US Europe

A three-way alliance of legal firms is helping Europeans call out financial wrongdoing and benefit from US whistleblower laws. New York-based Meissner & Associates is collaborating with Stuttgart/Berlin-based Naegele and London-based Brahams Dutt Badrick French (BDBF) to create the new transatlantic initiative, the “first of its kind”. The plan is to help employees, suppliers and […]

Deloitte opens blockchain lab in New York


Deloitte has launched a blockchain lab in New York’s Wall Street. 2017 could be its “make-or-break year” for blockchain, says Eric Piscini, principal with Deloitte Consulting. Joe Guastella, another principal with Deloitte Consulting, says its “ecosystem for education, ideation [we missed you jargon], strategy, application prototyping and development is there to support Deloitte’s clients and […]

BMW Financial Services in major tech overhaul with Sword Apak

BMW Group Financial Services

BMW Group Financial Services (BMW FS) has selected UK-based fintech vendor Sword Apak to support the planned harmonisation of its European core operating systems. Called the Ideal Programme (integrated delivery of a European application landscape), it was launched in November 2016. It is designed to integrate three key modules: commercial finance, dealer front-end and the […]

US Democratic senators oppose OCC fintech proposal

Banks in the US continue to face many risks, the OCC finds

A skirmish over the future of US fintech is underway in the new US Senate, with two Democratic senators this week saying a new federal charter governing the industry “could weaken consumer protections, limit competition and threaten financial stability”, reports Paybefore. Late last year, the Office of the Comptroller of the Currency (OCC) released a […]

InvestCloud acquires Babel Systems for $20m


California-based InvestCloud has acquired Babel Systems in London for $20 million. Babel provides a modular and API-based trade and accounting platform, while InvestCloud has over 660 clients with “accounting needs served by legacy accounting systems that were designed in the last century”. This acquisition links InvestCloud’s digital platform with Babel’s capabilities. InvestCloud will also continue […]

OCC flags risks facing US banks and financial institutions

Banks in the US continue to face many risks, the OCC finds

Strategic, credit, operational and compliance risks remain “top concerns” for the financial services industry in the US, according to the latest report by the Office of the Comptroller of the Currency (OCC).

Top ten fintech events in 2016

Sibos 2016: restoring trust in financial markets

Look back at some of the major fintech events in 2016, with Banking Technology’s top ten! Sibos 2016: markets still in “Dante’s circles of hell” It’s the big one. And this is just one snippet from our extensive coverage of Sibos in Geneva. We also produced videos, published Daily News at Sibos, had fun with […]

Australia offers world-first licensing exemption for fintech

To Apple Pay or not to Apple Pay, that is the question

Innovation Down Under gets jazzed up. The Australian Securities and Investments Commission (ASIC) has released class waivers to allow eligible fintech firms to test certain specified services without holding an Australian financial services (AFS) or credit licence. ASIC commissioner John Price says its fintech licensing exemption is “unique” and “no other major jurisdiction has implemented […]

AWS data centre launch implies all is not well following Brexit


Amazon Web Services (AWS) has announced a new availability zone in London which indicates all is not well in the UK following Brexit, reports Jamie Davies at The new data centre creates the 16th availability zone worldwide for the public cloud leader, and is the first available in the UK. To date, customers in the […]

Innovate Finance launches new fintech start-up competition, Pitch360


Innovate Finance, a UK-based fintech membership association, has unveiled its first ever start-up competition, Pitch360. Open to applicants from around the world, Pitch360 offers a 360-second (six minute) pitch of a new business and product in front of a live audience of influencers, investors and media professionals as well as access to Innovate Finance’s member […]