The London Stock Exchange is to grant access to licenced data within its Workspace and Financial Analytics products to provide staff, ChatGPT users and enterprise customers with richer insights and streamlined workflow.
“The People’s Bank of China (PBoC) will continue to promote healthy development of cross border payment in the principles of openness, cooperation and mutual benefit,” said Lu Lei, deputy governor, The People’s Bank of China, during the Sibos’s opening plenary.
The instantaneous availability of compute power in the cloud is supporting an explosion of data consumption in the financial services industry. In order to manage the vast amount of information in competitive and fragmented markets and derive actionable insights, a new approach to data management is essential. And financial institutions (FIs) are increasingly looking to the cloud.
NAB, CIBC, Itaú Unibanco and NatWest Group have joined forces with Amazon Web Services to run a global open finance challenge, inviting fintechs, universities and other large organisations to prototype and develop new digital banking services.
Open Banking could realise £18 billion in value for British people and small businesses over the course of a year, claims an independent report, but only if the industry, government and regulators act to ensure the project realises its potential.
Capital One Ventures has invested $24 million in cloud security intelligence firm Securonix in conjunction with a strategic partnership.
Digital bank Nubank has selected Nasdaq’s regulatory reporting system, AxiomSL, for its Latin American offering.
South Africa’s Rand Merchant Bank (RMB) has announced its partnership with climate technology company KOKO to drive growth in climate financing.
Alan Marquard, executive vice president, applications at Mastercard commented on their current progress towards 2027 goals as reported by FSB in their second annual assessment in a session on G20 targets at Sibos in Beijing: “we’re four years in the journey to 2027, and we’re nowhere near there. I find that completely unsurprising. The metrics were set up as quantitative metrics, but set at a global level without clarity on who was responsible for achieving them.”
Founder and chief exec at fintech giant Revolut, Nik Storonsky, has reportedly sold shares worth up to $300 million (£230 million) in the company.
Datricks, an AI-powered “financial integrity” platform, has raised $15 million in a Series A funding round led by Team8’s VC arm.
Global fintech SumUp has announced its array of new product features to support small businesses at the company’s annual event.
Deutsche Bank has gone live with Swift’s new API-driven Instant Cash Reporting (ICR) tool for accessing real-time account and balance information with a single, standardised connection.
The Nigerian Exchange has enlisted the Central Securities Clearing System (CSCS) and Euroclear to help build a dollar settlement platform that will enable tech startups to raise in dollars.
During the Financial Cloud Summit’s afternoon Optimise session, titled ‘BaaS: Entering new and niche markets,’ Finextra reporter Niamh Curran guided panellists through a technical discussion that explored how embedded finance and BaaS can help to transform the backbone of business operations.