Announcements from two major exchanges Tuesday pointed to the growing importance of indexes as a revenue generation tool for marketplaces. The announcements from Deutsche Borse and Nasdaq follow London Stock Exchange's recent acquisition of the Russell Indexes.
Barclays is one of the few U.K. banks that has not yet agreed to support Apple Pay when it launches in the U.K. in July, but the bank is stepping up the competition, debuting its own contactless pay solutions available for purchase July 1. Barclays' Barclaycard division is launching three new devices – a wristband, a sticker and a key fob, or key chain – that can be used to make contactless payments across the U.K.
Recent high-profile payments glitches have drawn criticism of banks' aging payments infrastructures. The attention the payment failures have attracted correspond with increasing interest in real-time payments analytics, as firms look to spot potential problems quicker, or assess where to make operational upgrades, according to data flow governance vendor Axway.
Digital Asset Holdings, the financial industry blockchain technology firm headed by former JPMorgan executive Blythe Masters, has announced two new acquisitions aimed at using distributed ledger technology to increase the efficiency of finance industry processes. The company's acquisitions of Hyperledger and Bits of Proof shed more light on Digital Asset's business strategy and come as the technology that underpins bitcoin is seeing increasing experimentation from the finance industry.
Wells Fargo is planning to roll out biometrics that fuse both face and voice recognition for extra security in authenticating mobile users of its CEO Portal. The bank said based on its research it will be the first financial firm to merge those types of biometrics.
When Regulation A+ went into effect earlier this month it lowered certain legal hurdles that made it difficult for small firms to tap public markets with an initial public offering. OTC Markets Group, an operator of three organized over the counter marketplaces, sees the new rule as creating a potential opportunity for smaller firms to come to its markets with "mini IPOs" that would have been too costly and logistically difficult to execute under the old rules.
Charles Schwab this week unveiled its Institutional Intelligent Portfolios, a version of its Intelligent Portfolios robo-advisory offering designed specifically for registered investment advisors (RIA). The firm said that the automated offering will help advisors scale their businesses and reach new market segments with automated services.
Nasdaq has tapped blockchain infrastructure provider Chain for Nasdaq's previously announced initiative to use blockchain technology to boost the efficiency of Nasdaq Private Market. Chain will work with Nasdaq to leverage blockchain technology for the secure issuance and transfer of shares of privately held companies. In addition, as Chain is privately held, it will be the first company to use the blockchain technology on Nasdaq Private Market.
Enterprise security and systems management technology company Tanium is moving into cyber forensics, with two recent executive-level security hires helping to develop the new capabilities.
It is estimated that global systemically important banks spend hundreds of millions of dollars on anti-money laundering compliance. As is often the case with large financial institutions, the challenge of managing data in one of the most arduous and costliest parts of the process.
London Stock Exchange Group has launched the beta phase of ELITE Connect, a social network designed to facilitate interaction between public companies, intermediaries and institutional investors. Major listed European companies are currently testing the platform, with a go live date set for later this year.
Barclays has reportedly signed a proof of concept with European bitcoin retailer Safello aimed at working together to explore how blockchain technologies could be used in the financial sector. The partnership came after Safello completed participation in Barclays' 13-week accelerator program.
Liquidnet is integrating with seven order management systems (OMSs) in preparation for its planned launch of a corporate bond dark pool in the third quarter. The company said the integrations will provide firms with direct connectivity into the dark pool and help centralize critical mass of corporate bond liquidity for market participants.
Fifth Third Bank expects to consolidate or sell approximately 100 branches as well as 30 other properties that had been purchased for future branch expansion, the bank announced Monday. The closures are a result of shifting customer preferences toward digital and mobile banking channels.
KCG Holdings has relaunched its alternative trading system, rebranding it MatchIt and adding more comprehensive data to make better informed trading decisions. The new ATS will also simplify the trading experience, according to KCG.
Royal Bank of Scotland attracted widespread criticism this week when it promised to restore 600,000 payments that went missing due to a technical glitch in four days – a timetable viewed as unacceptably long. The glitch, which occurred early Wednesday and affected customers of RBS's NatWest, Ulster Bank and Coutts banking chains, was corrected Wednesday, but the bank said it might take until Saturday to complete the backlog of restoring all missing payments.
Opportunity Fund, the largest non-profit lender to small businesses in California, is partnering with Lending Club to pre-screen applicants for Opportunity Fund Loans. Calling the arrangement a "breakthrough collaboration of high-tech and non-profit lending" the partners say Opportunity Fund will review applicants screened by Lending Tree through a "seamless technology integration."