News

Deutsche Bank launches Frankfurt "Digital Factory" to speed IT modernization

Deutsche Bank is launching a Digital Factory in Frankfurt that will employ 400 digital specialists and banking experts working cooperatively to modernize the bank's technology infrastructure. The Frankfurt facility will work closely with the bank's existing innovation labs in Berlin, London and Silicon Valley.

Nasdaq launches API-independent testing platform

Nasdaq has launched a new testing platform to help exchanges, clearing houses and central securities depositories conduct quality assurance and speed the time to market of new tools. The platform, called Nasdaq Validator, is an API-independent testing platform offering both manual and automated test tools for the capital markets industry.

Infosys launches financial services blockchain framework

Infosys is launching a framework for rapidly deploying blockchain-based services in financial services. The framework, called EdgeVerve Blockchain Framework, is being launched by Infosys subsidiary EdgeVerve Systems.

Toronto Stock Exchange and TSX Venture Exchange launch mobile apps

Toronto Stock Exchange and TSX Venture Exchange are launching two new mobile apps designed to help investors research stocks and explore a range of investment opportunities. Each of the new mobile apps has a corresponding website for online research.

Spotlight: U.S. Bank pilots app to help small businesses build customer loyalty

U.S. Bank is pilot testing a new mobile app designed to help small businesses build loyalty through deals and rewards. The app, called Deal Local, is being tested in Lawrence, Kansas, and is already...

SWIFT hack reveals sophistication of attackers

SWIFT, the global cooperative billed as the world's leading provider of secure financial messaging services, revealed Monday that thieves who stole $81 million from the Bangladesh central bank in February probably hacked into the SWIFT financial platform.

McGraw Hill becomes S&P Global, focuses solely on financial data and analytics

McGraw Hill Financial, a company whose name was once tied to information products ranging from financial data to textbooks and consumer ratings, will change its name to S&P Global on Wednesday as it refocuses squarely on data, benchmarks and analytics for the financial industry.

Western Union adds cross-border payments to e-commerce with API platform

Last fall, Western Union partnered with fast-growing social media app WeChat to enable U.S. customers to send payments cross-border to 200 countries. In February, the 165-year-old global money transfer company inked a similar a deal with mobile messaging app Viber, allowing Viber's customers to send money internationally to friends and family from their mobile phones.

Indian mobile bank launches with AI-based virtual assistant

When customers of India's new digibank have a question, they text a virtual assistant ingrained with deep financial knowledge and ready with quick answers to thousands of questions. Digibank, a new mobile-only bank in India, is supported by an artificial intelligence-based virtual assistant from Kasisto, a spinoff of SRI International, the company that sold Siri technology to Apple in 2010.

Blockchain-based loyalty program with ties to fintech rebrands as Loyyal

Ribbit.me, the company that has built a distributed ledger-based loyalty and rewards network, is renaming itself Loyyal. The company is developing technology to introduce interoperability to the world of loyalty rewards, with multibranded rewards.

Bank of America Merrill Lynch adds metadata search to CashPro Trade

Bank of America Merrill Lynch has added metadata search capabilities to CashPro Trade, its trade and supply chain finance application used by clients in more than 50 countries. The new data capture technology allows for metadata, such as invoice numbers and dollar amounts, to be recognized during a document search.

SWIFT outlines path to distributed ledger adoption

In an in-depth technological study conducted in partnership with Accenture, SWIFT outlined the gaps that need to be addressed before the blockchain or other distributed ledger technologies are ready for mission-critical use in financial services. The study is also a blueprint of what criteria must be met for its own services to include a distributed ledger offering, SWIFT says.

Barclays to launch big data service for small and medium businesses

Barclays plans to launch a big data analytics service for small and medium business customers next month. The service is intended to bring the enterprise-scale market research capabilities of Barclays to businesses that don't have the time or money to invest in tools to analyze their own customer trends or those of their market competitors.

Aerospike looks to bring NoSQL to the core of financial services

As financial companies increasingly leverage big data, they have explored and embraced non-relational databases for their most advanced analytics. But NoSQL database provider Aerospike envisions bigger use cases in finance.

Capital One open sources tool for AWS cloud resource management

As a large corporation that is also an Amazon Web Services (AWS) user, Capital One last year began developing a product to improve the efficiency of its AWS cloud resource management. Today, that tool, which Capital One calls Cloud Custodian, is not only in use by Capital One, but it is also being published by the company to the open source community.

OpenBondX rolls out bond version of maker-taker incentives

Electronic bond trading platform OpenBondX (OBX) is looking attract liquidity to its newly launched market using an equity market technique: incentive-based pricing. In what it calls a twist of the maker-taker rebate pricing model used in the equity markets, OBX will incentivize initiators of order flow with rebates that are built into the trade's settlement.

Banks increasingly see fintechs as collaborators as well as competitors, study shows

Bank executives have a new vision of the future, and fintech firms are in it, according to a recent study. The 2016 World Retail Banking Report, an annual study from Capgemini and Paris-based banking industry association Efma, found that the attitudes of bank executives toward fintech firms has shifted in the past 12 months. 

Goldman Sachs completes acquisition of online deposit platform from GE Capital, launches website

Goldman Sachs announced Monday that its Goldman Sachs Bank USA subsidiary, known as GS Bank, has completed the acquisition of the online deposit platform of GE Capital Bank. To coincide with the completion of the acquisition, GS Bank launched a new website showcasing its new online deposit offerings.

TeraExchange files antitrust suit against dealers for conspiring to boycott SEFs

TeraExchange, one of the early swaps execution facilities created to accommodate post-financial crisis rules allowing electronic trading in the historically voice-traded swaps market, is filing an anti-trust complaint against a dozen large interest rate swap (IRS) dealers. The complaint alleges that the dealers conspired to boycott SEFs and prevent buy-side firms from using them in order to retain their profitable roles in the IRS market.

NTT DATA builds financial services business and IT consultancy

NTT DATA, Inc. is launching a new blended business and technology consulting practice that leverages its own IT-focused consulting capabilities with the financial services business consulting practice of Carlisle & Gallagher Consulting Group, acquired last year.