Digital debt restructuring company LendStreet, Inc. has closed a $7 million USD series A equity round and raised $110 million USD in debt financing.
Financial & Payments Technology
This transaction was completed in 24 hours whereas "a typical paper-based transaction would take 5-10 days,” said HSBC.
The event will look at "scaling robo-advice alongside traditional advice and how artificial intelligence and new digital capabilities can enhance financial planning."
"There is a clear demand on the part of consumers for personal loans," said Shayan Khwaja of BBVA Compass.
"We will find the InsurTech leaders of tomorrow and create new solutions that will benefit the Lloyd’s market,” said Stuart Marks, founder of L Marks.
In an effort to allow more people to develop blockchain-based innovations, Amazon recently launched a new platform of AWS Blockchain Templates.
In a transaction last year, credit card giant American Express acquired U.K. digital payments startups Cake Technologies, the global financial firm recently confirmed.
Digital Transformation Advances in Colombia as Nation’s Largest Bank Plans to Invest $140 Million USD
Grupo Bancolombia plans to invest some $140 million USD in digital transformation and artificial intelligence initiatives this year.
In a massive deal, Experian is set to acquire London-based fintech startup ClearScore for $385 million.
The intersections between fintech, blockchain, and AI will be examined at the upcoming Emerging Technologies Summit at the University of Texas.
The EU will propose common standards for blockchain in an effort to create more clarity and encourage fintech innovation.
Lloyds Banking Group is aiming to “deploy new technology to drive additional operational efficiencies that will make banking simple and easier."
Alongside established firms, such as Credit Karma and Coinbase, nearly half the list — or 22 firms — are newcomers in 2018.
The has opted to implement the robotic process automation solutions, Kofax Kapow and Kofax TotalAgility, to overhaul its legacy infrastructure.
Companies in all industries and all locations are increasingly ...
51% of consumers trust banks when it comes to managing their private data, the highest rate of any industry.
"Advanced automation, AI, and machine learning will help banks provide better services for their customers," says Thrive Inc. founder Kunal Sehgal.
WePay will continue to operate as a standalone company and receive additional resources from JPMorgan Chase to continue to grow.
The most popular reported use for fintech, with 32% of respondents, has been connecting with online lenders.
As RPA successes add up for insurers, these early wins may be seen as just the first steps on an industry-altering journey.
“Integrating blockchain with SAP and other business applications is inevitably the next frontier for blockchain,” says SophiaTX head Jaroslav Kacina.
"What we are seeing is a tipping point regarding adoption," said Mark Ranta, head of digital banking solutions at ACI Worldwide.
The U.K. and Germany remain the fintech leaders in Europe, but the growth of two other markets shows that location is less important than ever.
"Innovation in lead generation and customer experience is key for businesses in today's ever-changing environment," said Doug Lebda of LendingTree.
2018 will mark a new era for action due to a new EU directive — the Revised Payment Services Directive— that will go into effect in January.
Stripe leads the biggest fintech firms list — and with a $9.2 billion USD valuation is worth more than twice as much as second-place finisher SoFi.
PwC report: “Traditional institutions are transforming themselves at a pace not seen before with greater urgency than in most other markets."
“YellowPepper has the skill set and existing footprint in the region to help us accelerate time to market for our clients," said Allen Cueli of Visa.
"PayPal customers will be able to pay for App Store, Apple Music, iTunes and iBooks purchases across iPhone, iPad and iPod Touch devices using their PayPal account," said the company.
Unisys recently launched its new banking solution Elevate, an onmichannel platform that aims to improve the customer experience.
"We use Apple Pay in apps, we use it in the web, and there was one final frontier we wanted to conquer," said Craig Federighi of Apple.
“It is a consortium network, collaborative and useful for all," said Álex Puig, head of Spain's new multi-sector tech platform Red Lyra.
Though Mizuho will only take up to a 15% stake in the new venture, it believes the endeavor will help it innovate outside of the stuffy culture within the bank.
KPMG's new innovation center in New York aims to help serve clients build better technology-based solutions in disruptive sectors.
Uniken's CEO says being selected for the Wells Fargo Startup Accelerator program "is a great validation of our innovation in delivering great security.”
"Cognitive computing has the potential to dramatically simplify digital trust processes throughout the financial services industry," said Ankit Ratan of Signzy.
With Rise London, Barclays hopes to create new fintech-based products and services, experiment with emerging technologies, and spot early trends.
"Devices will recognize the user rather than having to remember an assortment of letters and numbers that are forgotten or could be guessed," said Lloyds.
The award, handed out annually by Celent, aims to honor the best use of technology in different areas critical to success in banking.
"Amazon Connect is simple enough to be configured and run directly by business decision makers," according to Jeff Barr of AWS.
"The presence of the World Economic Forum in our city will help accelerate innovative science and technology policies," said San Francisco Mayor Ed Lee.
The new IMF working group will study the many economic and regulatory implications of the technological developments that are changing the world of finance.
"We are strengthening our commitment to simplifying processes and experiences, empowering users, and facilitating digital interactions," said Miki Migdal of NICE.
"Our customers want to do more of their banking through digital channels," said Brian Porter, Scotiabank chief executive
Though most now see the importance of omnichannel, more than half of the financial companies surveyed "have not begun substantive efforts."
This is a guest contribution to Finance TnT by ...
"Daimler's new payment system underscores our ambition...to make the products and services we offer even more appealing," said the company's Bodo Uebber.
“We know our customers value their time and like to do everything through their cell phones," said Cristina de Parias, head of BBVA Spain.
"As the software gets smarter it just creates more and more opportunities to add value," says Rod Drury of Xero.
NICE Trading Recording solution allows financial institutions to use the same secure means to capture calls in their back office that they use on their trading floors.