International

Consumers expect financial institutions to provide an expert level of security when it comes to sensitive data. Over the years, however, some of the biggest data breaches have involved, in some way or another, financial institutions. Here’s a quick look at ten of the biggest data breaches impacting the financial …

Sui-Jon Ho discusses how data is being used in financial institutions and why Big Data is presenting them with unique challenges and, more importantly, opportunities.    10 charts that explain IoT’s growth Sberbank’s new platform pushes bank into becoming technology company UniCredit teams with FinDynamic to enhance invoicing service

Global investments in Big Data and business analytics is projected to grow from USD 130.1 billion in 2016 to over USD 203 billion in 2020. Here are 3 of the biggest Big Data trends, each represented by an innovative new solution: Business intelligence (Qlik Analytics Platform) – Qlik has developed …

Monzo, a disruptive neo-bank working to expand into the U.S., recently experienced a hiccup in its data security that resulting in nearly 500,000 U.K. account holders being urged to change their PIN numbers. It is important to note that the vulnerability was discovered by internal engineers and quick and decisive …

HSBC has opened two data and innovation labs, one in London and the other in Toronto. The labs will engage in activities aimed at improving HSBC’s products and services through the use of analytics and robotics. The labs will also cooperate with firms specialized in other important areas such as …

Data is quickly becoming a point of contention between companies working to collect, process and secure it and governments seeking to force companies to provide them the data they possess. The debate between the two sides revolves around an age-old debate: freedom vs. security. While governments argue that they should …

Startups are playing a huge role in innovating the wealth management industry. Our friends at Plug and Play got in touch with 6 of the most relevant ones to get their views on the industry they are helping reshape: Grove Agolog Rocket Dollar Say Compound Accern Grove Agolog Rocket Dollar …

A relatively new concept in making investments is allowing investors to buy shares of rare cars and other rare items. For example, New York-based company Rally Rd. offers users the chance to buy shares in rare cars like Ferraris and Mustangs for as low as USD 5 and plans on …

FinTech startups are reshaping the financial world, including wealth and asset management. Here are 6 WealthTech startups that are promising to change the way we manage our wealth: Cred – Cred uses artificial intelligence to help financial institutions deliver highly-personalized investment portfolios to digital clients. Responsive.ai – not just another …

Income cards have become popular around the world due to their convenience and the benefits they provide. For example, some income cards not only serve as a bank account, they also offer reward programs and generate interest on existing balances. For banks, income cards have become a key way to …

Over the past few years, there has been much made of the FinTech boom and how tech- and financially-focused companies were invading the financial sector from seemingly every corner. A new player, however, is entering the sphere and making even bigger waves. BigTechs (also known as TechFins) have swooped into …

At EBAday 2019, a group of panelists discussed the likely future of instant payments in a world of open banking. The group noted that major progress is already being made in some areas of the world and that Europe stands to lose out in its own backyard to China and …

Facebook has announced a plan to launch its own cryptocurrency (Libra) next year. In fact, what they may be doing in launching Libra is actually creating a new financial system that could replace traditional currencies in many emerging economies. Here’s everything you need to know about Libra. What is it …

With Apple Inc. starting the rollout of its brand-new Apple Card and its availability expected to reach more than 40 countries by the end of the year, we wanted to take a moment to give you a brief overview of this new payment device.   What is it Apple Card …

At a meeting of the financial heads of G20 countries in Southwestern Japan, a discussion was held on developing a new tax system for large internet companies such as Google and Facebook. Specifically, the financial heads discussed implementing a tax policy under which such companies would be taxed in each …

With concerns of a BigTech “invasion” into financing reaching an apex, it seems appropriate to examine BigTechs’ interest in the financial sector: Why might BigTechs get into banking? – financial services already make up about 11% of BigTech revenue streams. Moreover, there is great potential for this to grow in …

According to Christine Lagarde, head of the International Monetary Fund (IMF), the entrance of BigTechs into the financial market could adversely affect overall financial stability. Ms. Lagarde specially mentioned concerns over confidentiality and the potential for such giants to eventually drive out competition. Instead, IMF is looking to help member …

B2B FinTech companies don’t often get the recognition of their B2C cousins; however, they play a key role in the future of financial services and deserve some acknowledgment. That being said, our friends over at Tearsheet have created a list of the top B2B FinTech companies, broken down into 9 …

Q-Lana, a U.S.-based FinTech company, was founded to develop the concept of knowledge-based lending as a way to help financial institutions overcome the challenges associated with broader MSME lending and, thereby, spur economic development. Q-Lana is an integrated platform that offers fully-digitized operations and allows other providers to connect to …

New data from Juniper Research suggests that B2B transactions processed by pureplay digital operators are likely to reach USD 14 trillion by 2023, up from USD 6.7 trillion in 2018. This expectation results from banks’ purchase departments struggling to quantify returns on investments from the implementation of digital technologies that …