InvestCloud has completed a recapitalisation that values the wealth platform at $1 billion. As part of the deal, two additional businesses are being rolled into InvestCloud, immediately pushing the valuation of the combined business up over $2 billion.
Banks need to ditch rigid and reactive applications in favour of flexible and proactive APIs and apps, says research house Gartner.
India’s central bank, the Reserve Bank of India (RBI), is set to introduce new rules for IT outsourcing within the financial services sector.
Wells Fargo fired several employees for faking work by using “mouse jigglers” to simulate computer activity, according to Bloomberg.
Amid industry concerns about the dominance of Big Tech in the provision of digital wallets, UK financial regulators say they will take a back seat and support the country’s Competition and Markets Authority in its wider investigations into Apple and Google’s mobile ecosystems.
Sweden’s Riksbank is threatening banks with the propect of regulation to ensure business access to cash services.
JPMorgan Chase has transformed money market fund shares into tokens to execute an over-the-counter derivatives trade between BlackRock and Barclays Bank using blockchain technology.
The European Investment Bank (EIB) has proposed a series of measures designed to strengthen funding for fintechs and startups within Europe.
A new certification programme claims to be the first global qualification exclusively for technologists working within financial institutions.
Escaping from the main stage for a hot minute, Finextra listened in to a pitch on the Sibos Discover stage, where Fabian Vandenreydt, chief strategy officer at Greenomy, outlined the ESG-focused fintech’s plan to streamline banks’ and corporates’ sustainable finance reporting in line with the EU Taxonomy, SFDR and CSRD/NFRD.
Moderating the last panel of the first day of EBAday, Rita Camporeale, vice chair of the European Payments Council led a conversation on the OCT Inst scheme with Daniele Astarita, principal solution consultant of real time payments at ACI Worldwide; Damien Godderis, head of payments industry engagement – payments & receivables – cash management at BNP Paribas; Xavier Herrero, manager operations groups at CaixaBank; and Michael Knetsch, tribe lead instant payments, cash management at Deutsche Bank.
Waave, an Australian open banking startup for account-to-account payments, has closed a $4.7 million seed round backed by Menulog managing director Morten Belling and e-commerce investor Paul Greenberg
National Australia Bank is rolling out a series of card-linked enhancements to its mobile banking app, including a ‘world-first’ feature which enables consumers to use the app to pay for purchases while waiting for the arrival of new Visa credit cards.
Historically, it could be argued that financial institutions were beholden to pick between AWS, Google Cloud and Microsoft Azure for all workloads due to availability, but with other smaller cloud providers offering private cloud fabrics, financial organisations are considering hybrid or multicloud options. However, Ofcom has an alternative view.
The research is funded by the University of California, Berkeley’s Centre for Responsible Decentralized Intelligence, and will involve collaboration between Warwick’s own Dr Ganesh Viswanath-Natraj, Ripple Research, and the University Blockchain Research Initiative (UBRI), the $50 million research division of Ripple.