News

BNY Mellon leverages data into Asset Strategy View

BNY Mellon is launching a new big data product for large money managers that leverages aggregate client data to generate insight into market trends. The new product, called Asset Strategy View, is the first in a series of big data solutions the bank plans to launch based on aggregate client data.

Spotlight: CME upgrade solves potential latency issues

Recently completed technology upgrades at CME Group have improved data connections that critics have complained were not uniform in speed and had the potential to give some participants advantages over others. 

BBVA partners with Red Hat to create open-source cloud infrastructure

BBVA is teaming up with Red Hat to collaboratively develop an open source, cloud-based infrastructure to support the bank's digital transformation. The partnership is intended to position BBVA's technology to better support innovation, digital banking services, and the growth of transactions on digital devices.

MasterCard enables digital payment through SoftBank's "Pepper" robot

Before the end of the year, customers in Pizza Hut in Asia will be able to order pizza from SoftBank Robotics' humanoid robot "Pepper." If they are MasterCard customers, they can not only pay the robot using their MasterPass digital wallet, but they can receive personalized recommendations from Pepper as well.

Regulation Crowdfunding offers more savings, more marketing restriction

Similar to Regulation A+ launched last year, the new Regulation Crowdfunding, or Regulation CF, aims to give entrepreneurs and small businesses a new alternative for raising funds. While both rules open the gates to equity crowdfunding, issuers are beginning to learn that fine points between the rules not only dictate the parameters of how much can be raised, but may also affect fundraising strategy.

CBOE takes equity stake in Eris Exchange, announces product collaboration

CBOE Holdings and Eris Exchange are entering into a strategic partnership to develop new products aimed at addressing the impact of pending regulations. Along with the product-development partnership, the companies announced that CBOE Holdings is making a minority investment in Eris Exchange Holdings and joining the company's board of directors.

Commerzbank revamps investment banking IT architecture

Commerzbank, Germany's second-largest bank, is remodeling its investment banking IT infrastructure to modernize and improve the efficiency of its technology landscape. The revamp will also include a continuous learning educational component for enhancing the skills of its technology teams.

Goldman Sachs IMD completes Honest Dollar acquisition

Goldman Sachs announced Monday that its Investment Management Division has successfully completed the acquisition of web and mobile-based retirement savings platform Honest Dollar. The Honest Dollar platform targets Americans who do not have access to an employee-sponsored retirement program.

IBM: Blockchain could secure the financial system

Blockchain technology has the potential to make the financial system more efficient and secure, and government and industry should collaborate to further develop it, IBM told a presidential cybersecurity panel last week. The company contends that with government investment, blockchain technology could boost national competitiveness as well as national security.

Spotlight: JPMorgan launches trade transparency product

JPMorgan has reportedly launched a new platform to provide buy-side customers with more real-time analytics related to their trades. 

First Regulation Crowdfunding filing was filled out using automation software

On Monday, Regulation Crowdfunding, also known as Regulation CF under Title III of the JOBS Act, went into effect, giving entrepreneurs and small businesses a new avenue for raising money from non-accredited investors. Fittingly for a rule that seeks to reduce barriers to funding, one entrepreneur who filed the required Form C under the new law on Monday completed the form using automated software.

Financial services compliance survey finds gaps in supervising communications channels

A new survey of financial services compliance personnel found growing concern about the ability of firms to manage the growing "compliance perimeter" posed by new communications channels. In total, less than half of survey respondents said that they were "mostly" or "completely" confident that their firm's current communications supervision program would effectively identify risks.

Bank of America expands cardless technology to 5,000 ATMs, adds support for Android Pay

Bank of America became the first bank to launch a broad rollout of cardless ATM technology Wednesday, when it announced plans to bring the technology to 5,000 ATMs by year end. The bank also said that it has extended the technology to include support for Android Pay.

ING Direct, Standard Life tap IBM Watson analytics for personalized banking

ING Direct Australia and Standard Life have both tapped IBM to provide personalized banking services to customers. IBM is leveraging its Watson analytic capabilities to help financial institutions analyze customer interactions across online and digital channels in order to present targeted services to customers.

Spotlight: Former Citigroup head Vikram Pandit launches financial services investment company

Former Citigroup CEO Vikram Pandit is partnering with investment company Atairos Group to launch The Orogen Group, a company that will make strategic investments in financial services companies and related businesses. 

SEC's reporting modernization spreads systemic risk reporting to thousands more funds

It might seem that the investment management industry is an old hand at managing systemic risk regulation. The Securities and Exchange Commission's sweeping Investment Company Reporting Modernization Rules, however, will extend risk reporting regulations faced by parts of the fund industry to a much wider swath of the market.

UBS partners with robo advisor SigFig for customized platform

Through a strategic partnership announced Monday, robo-advisory firm SigFig will build a customized digital platform to be used by UBS Wealth Management Americas' 7,000 advisors. The platform is expected to help advisors provide advice to clients on assets held at UBS as well as at other institutions, and to enhance clients' digital experiences.

ICAP electronic unit to become NEX Group

When ICAP completes its planned sale of its global broking unit to Tullett Prebon, the electronic broking and post trade business that remains will be rebranded NEX Group, the company announced Monday. The ICAP brand will be transferred to Tullett Prebon as part of the deal, which is expected to close by the end of 2016.

Barclays boosts mobile payment capabilities

Barclays announced two mobile payment initiatives last week: a consumer solution enabling customers to make contactless payments from Android devices, and a business solution enabling businesses to pay recipients in minutes.

Royal Bank of Scotland uses containerization in new innovation center

Royal Bank of Scotland is using containerization to develop applications in its new Open Experience technology solutions center, which launched earlier this year. The Edinburgh-based center houses technologists who are pursuing high-tech innovations for the bank and working with fintech companies to develop ideas into customer pilots.