Banks migrate from mainframes to AI-driven cloud tech
Generative AI is decisively facilitating the transition of banking applications to the cloud, according to nearly two thirds of industry players surveyed by NTT Data.
UK FS players agree to fund delivery of commercial VRPs
A group of 31 players in the open banking and payments industries has committed to fund efforts to create a new company that will bid to put Variable Recurring Payments on a viable commercial footing in the UK.
Architect of Clarity Services joins Trust Science
A senior architect responsible for the construction of Clarity Services, which was acquired by Experian in 2018, now is part of the executive team at Trust Science. The applicant sourcing, screening and decisioning platform announced this week that Reid Morrison … [Read More]
Santander warns Brits to beware of ‘love language’ used by romance scammers
Santander has teamed up with dating guru Anna Williamson to warn of the ‘love language’ to look out for as romance scammers hit on a third of Brits.
FDIC says banks don’t need prior approval for crypto activities
US banks no longer need to receive prior approval before engaging in crypto-related activities, says the Federal Deposit Insurance Corporation.
ComplyAuto rolls out AI-powered compliance engine for dealerships
This week, ComplyAuto launched Guardian, an artificial intelligence and machine learning engine designed to assist dealerships in adhering to sales, F&I and advertising regulations. ComplyAuto said Guardian offers a significant advantage for an industry frequently scrutinized by the Federal Trade … [Read More]
CaixaBank forges international consortium for cybersecurity research
CaixaBank has formed a European research consortium to explore ways to improve cybersecurity by leveraging artificial intelligence and big data.
Finextra’s top impact study reports of 2022
With 2022 drawing to a close, we take a look back at our most downloaded impact study reports over the course of the past year. Our impact study reports are how-to, best practice guides that support those in the financial industry in their utilisation and optimisation of particular technologies, as well as providing an outlook at future trends to watch.
ISD FENIQS launches low-code connector for Nordigen’s API
IT consulting agency, ISD FENIQS, has today launched a low-code connector on the Outsystems platform, which works with account information on Nordigen’s API.
Big banks join $63m funding round for Luma
Luma Financial Technologies, a platform for structured products and annuities, has raised $63 million in Series C financing led by Sixth Street Growth and joined by a host of existing Wall Street backers.
CBA responds to Biden’s characterizations of ‘junk fees’
Consumer Bankers Association president and CEO Lindsey Johnson offered a pointed response to a specific part of President Joe Biden’s State of the Union address given on Tuesday night. It all had to do with what Biden referred to as … [Read More]
Fed’s Bowman maintains stance for rate cut
Michelle Bowman, who is the Federal Reserve’s vice chair for supervision, was one of two members of the Federal Open Market Committee who dissented from the majority vote that kept interest rates unchanged when policymakers made their decision at the … [Read More]
CFIT launches ‘Open Finance Coalition’ and unveils founding members
The Centre for Finance, Innovation and Technology (CFIT) today unveils the founding members of its ‘Open Finance Coalition’ who will collaborate to show the power of financial data for better SME and consumer outcomes.
EIB invests €70m in Italian BNPL unicorn
The European Investment Bank (EIB) has provided €70m in scaled-up debt financing to Scalapay, an Italy-based BNPL provider.
3 goals of RPM-MBSi partnership to help lenders, agents & forwarders
This week, RPM and MBSi Corp. announced a new partnership, aligning their areas of expertise in the auto finance industry. The collaboration involving the non-asset-based logistics and transportation provider and the repossession assignment management software company is designed to help … [Read More]