Financial ServicesRSS

House of Lords calls for action on UK financial exclusion

UK flag

The House of Lords Financial Exclusion Committee is calling for the UK Government, the Financial Conduct Authority (FCA) and banks to give greater priority to tackling financial exclusion. In its new report, “Tackling financial exclusion: A country that works for everyone?”, the Lords want an end to the “scandal of the poorest being excluded from […]

Accenture, IBM and Microsoft fuel blockchain market growth

Blockchain

The global blockchain market will experience massive growth during the next five years – powered by the activities of “key vendors” Accenture, IBM and Microsoft. According to Research and Markets’ report, “Global Blockchain Technology Market 2017-2021″, the market will increase at a compound annual growth rate (CAGR) of 55.59%. One trend in the market is […]

Accenture to acquire payments consulting firm First Annapolis

Accenture

Accenture will acquire First Annapolis, a privately held payments consulting and advisory firm. Alan McIntyre, senior managing director, and head of Accenture’s Banking practice, says the acquisition “will enhance our capabilities in the payments sector”. Terms of the transaction were not disclosed. The acquisition, which is subject to customary closing conditions, is expected to close […]

European Commission calls for fintech feedback

European Commission

The European Commission (EC) has unveiled its action plan for consumers and is asking for feedback on its fintech ambitions. The EC wants to prise open national barriers as only 7% of consumers currently buy financial services from another EU member state. Valdis Dombrovskis, vice-president responsible for financial stability, financial services and capital markets union, […]

District of Columbia takes top US tech innovation spot

District of Colombia Flag Closeup

The District of Columbia (DC) can claim bragging rights as it has been deemed the most innovative part of the US, according to a study by personal finance website WalletHub. WalletHub says innovation is a principal driver of US economic growth. In 2016, the country spent an estimated $514 billion on R&D – “more than […]

United States of happiness for two-day settlement rule

Two US credit unions outsource core processing to Symitar

The US Securities and Exchange Commission (SEC) is being vigorously back slapped and group hugged by the finserv industry for finalising rule changes to help achieve a two-day settlement cycle (T+2). With an avalanche of acronyms, the Depository Trust & Clearing Corporation (DTCC), Investment Company Institute (ICI) and Securities Industry and Financial Markets Association (SIFMA), […]

ADNIC live with Profile Software’s IMSplus for investment ops

Profile Software

Abu Dhabi National Insurance Company (ADNIC) has implemented Profile Software’s IMSplus Insurance Investment Management solution. ADNIC uses IMSplus to monitor sector and asset class exposures of its invested assets. Profile says the system allows investment managers to analyse the company’s invested assets (cash, fixed term deposits, equities, bonds, funds, private equity and real estate) and […]

IBM Cloud launches new developer tools for financial services

IBM working with Standard Life and ING Direct Australia

IBM has unveiled its IBM Cloud for Financial Services for creating finserv apps. Users will get access to APIs, data and content to build and monetise cognitive-enabled apps for fintech firms, banks, wealth management firms and insurance companies. Initially available in beta, developers will also have the ability to build in customer insights, regulatory compliance […]

Under fire OCC moves forward with US fintech charter plan

Fintech in the US: where is regulation headed?

The US Office of the Comptroller of the Currency (OCC) is moving forward with its plan to enable fintech companies to become special purpose national banks, releasing a report that provides guidance on how to implement the plan and another that summarises public comments about it. The special charter has no shortage of critics, but […]

UK’s Financial Conduct Authority calls for greater responsibility

FCA keen to explore regtech

The UK’s Financial Conduct Authority (FCA) has set out its plan for improved banking standards and financial services with its new “Senior Managers and Certification Regime”. In a speech “Culture in financial institutions: it’s everywhere and nowhere” delivered today (16 March) by Andrew Bailey, FCA chief executive, to the Hong Kong Monetary Authority (HKMA) Annual […]

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