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fintech News

Luge Capital launches $75 million venture capital fund

Montreal - Luge Capital, a new venture capital fund specifically focused on early-stage FinTech companies and artificial intelligence solutions applied to financial services, announced it has completed a $75 million round of financing to begin operations.

AI will drive digital transformation of finance

Accountancy, as with other professions in the financial sector, is being disrupted by digital transformation. The main technological drivers are artificial intelligence, robotics and chatbots.

Blockchain is a 'pixie dust' fad

The British Parliament's Treasury Committee heard evidence on cryptocurrencies and blockchain on Tuesday. Martin Walker from the Center for Evidence-Based Management spoke before the committee.

Bankers says AI will be your newest coworker

A new report looking at trends in banking has found that 84 percent of respondents stated they are increasingly using data for automated decision-making. However, a sizable number recognize that this expansion comes with risks.

How blockchain is transforming banking

Blockchain is transforming a number of sectors, and this includes financial intuitions like banks. What major banks need to weigh is the extent to which they embrace blockchain and the threats that the technology poses to the industry.

French led blockchain technology innovation

Paris - A new partnership has been formed between the Request Network Foundation and PwC’s French operation to devise methodologies for companies to incorporate blockchain into their exiting services.

Real estate turning to technological solutions: Interview Special

New York - The real estate company Ideal was founded in 2007 by Aleksandra Scepanovic and partner Erik Serras. The duo identified a need to build a technologically innovative infrastructure for sales and rentals in key neighborhoods.

Ottawa Heart Institute shows off new cutting-edge technology

Ottawa - The University of Ottawa Heart Institute held a rare "open house" on Friday, unveiling its 145,000 square-foot expansion project that officials claim will significantly enhance the experience of heart patients in the capital.

U.S. Treasury publishes five 'takeaways' on blockchain tech

The U.S. Treasury has released a list of five tips for companies implementing blockchains. The insights are based on lessons learned by the department while building its own blockchain proof of concept.

Insurance techology sees record investment

A new report looks at data-driven global insurance technology trends and charts record investment from both financial investors and reinsurers in these emerging technologies.

Prilex malware clones chip-and-pin payment cards

Cybercriminals have developed an effective way to clone chip-and-pin cards, according to research from Kaspersky Lab. The Prilex campaign has been active for over three years and is designed to subvert the latest protections introduced by card companies.

Interview: Mobile technology to make banking easier Special

Many people struggle with their savings or with their finances overall. To make it easier to save, mobile banking technology offers solutions. One example is with Mobile banking startup Varo Money, Inc., who have introduced SMS alerts to encourage saving.

Microsoft calls for 'dialogue' on blockchain security issues

Microsoft has published a whitepaper that provides policy recommendations for dealing with blockchain security. The company said that regulators and industry should engage with each other to better understand the risks and align incentives to improve.

EU publishes draft laws to boost fintech and blockchain

The European Union has proposed draft laws for fintech, crowdfunding and blockchain in an attempt to make itself attractive to new start-ups. The European Commission said it wants to create a "competitive and innovative" financial market using fintech.

Report: Fintech startups reliant on partnerships to survive

Fintech startups are having to reassess the way they provide their services as the industry becomes dominated by partnerships with banks. According to a new report, collaboration with existing firms is now the top priority at over 75% of new providers.

Network of fintech accelerator hubs established

London - British bank NatWest has embarked on a program to establish four fintech accelerators based in the U.K. The bank will provide resources with the aim of adopting some of the new technology.

New innovation for digital investment advice market

A Canadian based startup has raised funding and plans to disrupt the ever-changing digital investment advice market. The company is Wealthsimple and it has raised $51 million in funding from Power Financial Corp.

'Glitch' let customer purchase $2 trillion in Bitcoin for free

The Japanese cryptocurrency exchange Zaif has reported a "system glitch" which allowed customers to purchase cryptocurrencies without paying any value in yen. During the incident, customers used the platform to buy trillions of dollars worth of Bitcoins.

Banking regulators reluctant to act on 'hyped' fintech

Global banking regulators have indicated they're not rushing to introduce new fintech rules. A report from the Basel Committee on Banking Supervision has addressed the "hype" in fintech, comparing it to previous disruption in the financial industry.

Banks begging to engage with cryptocurrencies

Global banking is currently a $134 trillion industry and in the U.S. ten or so major banks have dominated the market for decades. This is set to be disrupted with blockchain and cryptocurrencies.

Where the top 10 U.S. banks are investing in fintech

A new market analysis report maps out how the top ten U.S. banks are investing in fintech. This is across categories like blockchain, insurance and lending.

Interview: Partnerships key to fintech trust building Special

Collaborative partnerships are becoming a "cornerstone" of fintech, Matthias Setzer of PayU told Digital Journal. Financial providers and tech firms are partnering to address trust concerns, avoiding a "culture clash" which could derail the industry.

'Gia' is an Alexa rival for the finance industry

Emagia, a provider of digital finance solutions, has launched an assistance platform to help finance executives and operations teams. Gia combines AI and analytics to provide business leaders with predictive reports and automated task completion.

JPMorgan makes push into payments technology

JPMorgan appears to be making a big push into payments technology. A new markets report signals that digital banking becomes a strategic priority for the "bulge bracket banks."

Fintech startup Curve launches its connected card app

UK-based fintech startup Curve has announced its innovative credit card app is now available to consumers. The company has developed a platform that lets you link all your card accounts to its app. You can then use any of them to pay with one card.

deVere Group reveals new cryptocurrency trading app

One of the world's largest independent financial advisor networks has announced it's readying a new cryptocurrency trading app in response to "soaring" demand. deVere Group said fintech is having a "fundamental" impact on the way we use and manage money.

BankMobile, aiming to make banking affordable: Interview Special

BankMobile is the largest technology-enabled bank in the U.S. in terms of number of consumer checking accounts, and its popularity is growing. To find out why this is we spoke with Luvleen Sidhu, Co-Founder of BankMobile.

Fintech is targeting millennials using AI

Millennials as a demographic are seen as technology savvy, but not particularly active investors. Fintech firms are targeting millennials using new technologies to tap into an otherwise underserved market.

Mylo, a fintech app that invests Canadians spare change

Toronto - The Montreal-based fintech app Mylo makes investing more affordable by rounding users purchases up to the nearest dollar and investing the spare change.

Older banking users turn away from fintech due to lack of trust

The growing numbers of fintech services offering mobile and cloud-based payments are failing to convert older users. One study from Canada found Generation X-ers are over twice as likely to try a digital payments solution as baby boomers.
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fintech Image

The Revolut card pictured alongside the app in action.
The Revolut card pictured alongside the app in action.
Revolut/Business Insider
Wala and financial service providers can make banking more accessible and minimize the costs of fina...
Wala and financial service providers can make banking more accessible and minimize the costs of financial products for users.
Wala
Bitcoin has enjoyed a stratospheric rise this year  approaching $10 000 from a 2017 low of $752 seen...
Bitcoin has enjoyed a stratospheric rise this year, approaching $10,000 from a 2017 low of $752 seen in January
Pixabay / Pexels
Nikolay Storonsky  CEO & Founder of Revolut.
Nikolay Storonsky, CEO & Founder of Revolut.
Revolut/Business Insider
PayU Chief Commercial Officer Matthias Setzer
PayU Chief Commercial Officer Matthias Setzer
PayU
Curve app
Curve app
Curve