2017 Innovators to Watch: 44 Executives Shaping the Future of Banking
Bank Innovation
JUNE 12, 2017
2017 was a tumultuous year, but despite some stops and starts, innovation in finance is only gaining more momentum.
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Guide to Genuine Innovation When Everyone Is ‘Innovating’
Bank Innovation
FEBRUARY 15, 2017
This bank created an innovation lab, and that bank is launching a fintech team. But this other bank just started a blockchain focus group, and everyone else is investing in tech. Gone are the days when banks could afford to be “conservative” with new product launches and tech projects, which Read More.
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B2B Payments Drive Instant Payments, Crypto Innovation
PYMNTS
SEPTEMBER 29, 2020
New payment rails are once again in the spotlight as real-time payments and cryptocurrency emerge as the top focuses for innovators. In this week’s look at payment rails innovation, the European Union begins paving the way for greater crypto adoption, while Mastercard expands its own crypto accelerator initiative.
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Standard Chartered Reports Blockchain Letter Of Credit Transfer Between Thailand, Vietnam
PYMNTS
SEPTEMBER 14, 2020
Standard Chartered has announced the completion of the first cross-bank Letter of Credit (LC) transaction over blockchain, between Vietnam and Thailand, according to a report from FinanceFeeds. It was completed over the blockchain-based Contour network, which is an open industry platform and focused on digitizing trade finance.
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Banks Are ‘Dipping Their Toe’ into Public Blockchains, Says Chain CEO [VIDEO]
Bank Innovation
MARCH 29, 2018
Blockchain technology has been talked about in banking for so long that readers here can be excused for being a bit jaded on the subject. The technology has been touted as solving just about every problem bankers face, but as Adam Ludwin, CEO of Chain, told us in San Francisco at Bank Innovation 2018 earlier.Read More.
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Blockchain Startup BitPay Raises $40M for Asia Expansion
Bank Innovation
APRIL 3, 2018
BitPay, a blockchain payments company, closed a Series B of $40 million yesterday, the company announced. The money, as previously mentioned by the startup, will go towards expanding its international operations. The first stop for this expansion will be Asia.
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What’s the State of Banking Innovation in 2017?
Bank Innovation
SEPTEMBER 27, 2017
What is the state of banking innovation today? Fintech funding has grown tougher for startups, but banks’ balance sheets are looking stronger– what does it mean for innovation? Talk has shifted from last year’s discussions on blockchain and chatbots to artificial intelligence and cloud-based cores.
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Blockchain Won’t Kill the Banks (Banks Say)
Bank Innovation
MAY 19, 2017
Decentralization where you are innovating […]. In fact, decentralization may be beneficial for banks, depending on “what do you mean by decentralization,” said Jared Harwayne-Gidansky, North American lead of the emerging business and technology group for BNY Mellon.
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3 Not-So Futuristic Blockchain Applications
Bank Innovation
MARCH 8, 2017
— Blockchain – or the distributed ledger technology – is rushing out of test labs, and into real-life applications. Experts foresee that blockchain will take over money transfers, and will […]. SAN JOSE, Calif.
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Blockchain for KYC: Game-changing RegTech Innovation
Insights on Business
JULY 26, 2018
IBM RegTech Innovations. One of the best things about working at IBM—and in the RegTech field in particular—is meeting daily with the engineers and developers who are driving technological innovation in the financial industry. Consider, for example, the blockchain space. Figure 2: The Value Proposition of Blockchain for KYC.
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Blockchain-Powered B2B FinTech Roars Back With VCs
PYMNTS
FEBRUARY 7, 2020
It’s been several months, if not years, since blockchain was the darling of tech startup investors, but this week proved the technology still has a lot to offer venture capitalists. blockchain startup Envoy will be used to bolster its supply chain and trade finance platform, the company told PYMNTS in an emailed announcement.
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Blockchain Is Coming to the Auto Industry, and Not Just for Financing
Bank Innovation
FEBRUARY 22, 2017
Hyperledger Project – the cross-industry effort for the advancement of blockchain technology – enlisted a new member, but it’s not your usual bank or tech firm this time. Daimler AG — the parent company of Mercedes Benz — joined the project yesterday as a “Premier” member to “collaborate with a Read More.
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A Bank Automation Summit Preview: Key 2023 Banking Automation Trends
Perficient
FEBRUARY 22, 2023
Perficient will also bring insight surrounding the banking industry’s growing use of blockchain to the Summit. Blockchain technology is being used to create secure, decentralized ledger systems that can store and transfer data in a transparent and secure manner.
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RTP, Blockchain Make Inroads Within Corporations
PYMNTS
SEPTEMBER 15, 2020
With payment innovators looking to migrate B2B payments away from paper, a growing number of payment rails and technologies are helping to ease the pain of the shift. PYMNTS examines the latest initiatives that look to improve upon existing rails, or embrace new ones like blockchain and RTP. RTP Expands Across FI Base.
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B2B Innovators Explore The New Payment Rail Combinations
PYMNTS
DECEMBER 3, 2020
Payment innovators are embracing the opportunities to mix payment rails old and new in search of business-to-business (B2B) solutions that can tackle longstanding friction. Visa confirmed this week that it is partnering with Circle Internet Financial, which operates the digital currency U.S. CardUp Mixes Rails To Enable Card Payments.
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Microsoft’s Blockchain Guru Marley Gray Joins Speaker Faculty
Bank Innovation
FEBRUARY 18, 2016
Bank Innovation is pleased to welcome Marley Gray, Microsoft’s director of technology strategy for blockchain and financial services, to our speaker faculty. Gray will discuss corporate banking and blockchains on March 1 in Seattle with JP Jolly of Citigroup and Deva Annamalai of Fiserv.
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Bank Innovation Launches a Meetup Group
Bank Innovation
JUNE 1, 2017
A developer, or a blockchain champion? Bank Innovation is launching a Meetup group, where we plan to organize networking events, with insightful panels and (of course) happy hours. We guide innovation professionals to better results, and highlight new technologies that deserve attention. Are you a tech enthusiast?
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199 Here Is How to Build (And Maintain) Your Innovation Team
Bank Innovation
FEBRUARY 22, 2017
Innovation groups are a relatively recent, but an increasingly important, addition to traditional bank structures. Whatever the approach is, Read More.
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290 ICOs Are Already Revolutionizing Fintech, Moeda CEO Says
Bank Innovation
NOVEMBER 13, 2017
EXCLUSIVE—Investors don’t need to wait for Initial Coin Offerings to reach their full potential: this way of raising capital is already redefining how businesses in certain markets can operate, Taynaah Reis, CEO for cooperative banking system company Moeda told Bank Innovation.
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BNY Mellon Outlines Innovation Agenda — Less Office Space, More Blockchain
Bank Innovation
OCTOBER 21, 2016
BNY Mellon has made a lot of noise about blockchain technology in recent months and that continued in a discussion of the bank’s innovation agenda yesterday. Reporting the bank’s third-quarter earnings, CEO Gerald Hassell outlines a shift in resources from real estate to digital.
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Why Blockchain Holds Promise For Cross-Border Payments
PYMNTS
JULY 1, 2019
Blockchain has caught the attention of several FIs, especially for B2B and cross-border payments, even if there’s not yet consensus on how to best deploy it in real-world situations. Canadian payments network Interac has experimented with blockchain for consumer payments. We are now in the trough of disillusionment.”.
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211 HSBC Ready To Test Blockchain Trade Finance
PYMNTS
MARCH 1, 2018
Banking and financial services firm HSBC says its blockchain-based trade finance solution is ready to launch — in pilot phase, at least. In addition, Kroeker highlighted HSBC’s focus on documentary credit as a key area that can be improved using technologies like blockchain. According to Wednesday (Feb.
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What ATMs And Open Source Have To Do With Payments Innovation
PYMNTS
MARCH 7, 2019
However, the way payments innovation is pursued — and becomes reality — is changing, too. As the executive stated, “Banks, financial institutions and payment companies are making choices about who they want to partner with” in the drive to payments innovation. million machines that span the globe have run on Windows operating systems.
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194 Brexit A Boon For Blockchain?
PYMNTS
OCTOBER 31, 2018
Late this month, a study from Nexus found that across 200 businesses surveyed, more than half of large and mid-sized companies queried are looking to adopt blockchain in an effort to mitigate operational risks in the wake of Brexit. That would leave room for blockchain. As reported in July via white paper, the U.K.
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We Have Passed Peak Blockchain Investment
Bank Innovation
JULY 7, 2016
As the summer heats up, blockchain hype may (finally) be cooling down. 2016 will likely see less investment in bitcoin and blockchain technology, but that is true for many other areas, as well. This year to date has seen $161 million invested so far, while 2015 saw a total of Read More.
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Twelve Banks Join Blockchain Consortium R3 to Create Open-Account Trade Finance Network
Bank Innovation
SEPTEMBER 26, 2017
EXCLUSIVE – Twelve major banks joined blockchain consortium firm R3 and trade finance technology provider TradeIX on Tuesday in an initiative to develop an open account trade finance business network. These tools […].
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Blockchain Tracker: Hybrid, Private And Public Blockchain’s Impact On The Finance Industry
PYMNTS
FEBRUARY 24, 2017
Blockchain technology keeps a high level of detail in its records of all financial transactions made. One of the arguably best parts about public blockchain technology is that it’s usually not controlled by one particular entity. PYMNTS: Please share your own definition of hybrid, private and public blockchain technologies.
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Bitcoin Daily: Signal Messaging App Testing Crypto Payments; Gemini Adds 20 Tokens To Exchange; SIA, WizKey Partner For Credit Market Based On Blockchain
PYMNTS
JANUARY 26, 2021
Signal is exploring the idea of adding cryptocurrency payments into its messaging app by integrating MobileCoin , a cryptocurrency supported by the Stellar blockchain, Platformer reported. MobileCoin complements the privacy-focused app in that it is “more resistant to surveillance,” according to a 2017 Wired report.
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Blockchain Makes Headway Over Legacy X-Border Rails
PYMNTS
JULY 9, 2020
There’s no single path to payments infrastructure innovation. For some, like Currencycloud and Steamchain, the path involves bypassing legacy payment rails and embracing blockchain. And still for others, like InstaReM, payments innovation involves a mix of infrastructure. Steamchain Lands Investment For Blockchain Tech.
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193 Blockchain Tries To Jolt B2B eCommerce Into The Digital Age
PYMNTS
JANUARY 18, 2019
Yet, half a century later, even some of the largest multinational conglomerates are only beginning to implement EDI into their procurement and B2B commerce operations. Betting On Blockchain. For Inxeption, one of the most promising innovations to achieve this leap is blockchain. The technology first emerged in the 1970s.
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Alipay In X-Border Blockchain Pact
PYMNTS
JANUARY 10, 2019
The new year has dawned with a number of cross-border payment pacts, done across blockchain and other means. In Pakistan, as reported by Coindesk, Telenor Microfinance Bank and remittance firm Valyou Sdn Bhd (a Telenor subsidiary) have launched a payment platform based on Alipay’s blockchain offerings.
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Facebook’s Blockchain Team Is Assembling Its Own Mini-PayPal Mafia
Bank Innovation
MAY 8, 2019
s blockchain team are still shrouded in secrecy, but it’s staffing up, according to people familiar with the group. Launched last May, Facebook’s blockchain unit now counts 50 […]. The inner workings of Facebook Inc.’s
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A Family-Owned European Bank on Banking the Blockchain Community
Bank Innovation
SEPTEMBER 27, 2018
Bank Frick has grown its operations and staff while shrinking its physical footprint. While legacy banks are establishing digital-only offerings alongside existing services, Mauro Casellini, Bank Frick’s head of blockchain and payment service providers, told Bank Innovation that […].
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Blockchain Technology Not Suitable for Visa’s Core Business
Bank Innovation
MAY 17, 2018
Visa doesn’t see much use for blockchain in its core business, which is transactions at scale, according to CEO Alfred Kelly.
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The Enterprise Headache Of A Decentralized Blockchain
PYMNTS
JUNE 13, 2019
For blockchain technology, the crux of many of its purported benefits for the enterprise is its decentralized nature, which, proponents of distributed ledger technology (DLT) have said, promotes visibility and makes it more difficult for data to be manipulated. ” However, that’s only the beginning.
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Insurers Test Blockchain To Manage Provider Data
PYMNTS
APRIL 6, 2018
The blockchain is making inroads into healthcare. Earlier this week, five healthcare firms operating across the U.S. Under the terms of the pilot, blockchain will be used with the hopes of improving data quality while reducing administrative costs focused on healthcare provider demographic data.
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BNY Mellon Hires for Blockchain as More Firms See It as a Priority
Bank Innovation
MAY 10, 2019
Bank of New York Mellon has named Subhankar Sinha as Head of Blockchain. A BNY Mellon spokesman told Bank Innovation that the position is new at the bank “and was created as a result of the acceleration of proof-of-concept initiatives across the bank that align with BNY Mellon’s growth strategy and digitization priorities.”
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170 Today In Data: Digital Retail Innovation
PYMNTS
OCTOBER 17, 2018
They are innovating to meet consumer demand for new payment methods , and to improve customer convenience through technologies such as kiosks. And in the art world, Christie’s is testing a new blockchain application that is said to encrypt the registration of art transactions. consumers wager on sports annually.
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Three Years On, Open Banking Broadens For Business Banking
PYMNTS
JANUARY 26, 2021
HashCash Brings Blockchain Tech To Unnamed Bank. Although blockchain technology company HashCash Consultants did not name the FI, the company revealed it is collaborating with a bank in the U.S. to bring its blockchain-powered corporate trade financing technology into the entity.
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Digital Check Solution Checkbook.io Makes Headway in Auto Finance
Bank Innovation
AUGUST 13, 2018
David Brydun, vice president of consumer lending, exclusively told Bank Innovation that the financial institution has partnered with Checkbook.io on a digital check issuance solution that utilizes blockchain. “A Baxter Credit Union, based in N.J., has found a new solution to an old, and costly problem.
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256 Artificial Intelligence Takes Priority on Banks’ Innovation Plans
Bank Innovation
SEPTEMBER 14, 2018
Banks and fintech ranked artificial intelligence and machine learning as their top innovation priority, according to a Bank Innovation survey. Bank Innovation asked people in the banking and fintech community to list what’s top on their innovation wish list.
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In The Blockchain Race, FIs Hustle Not To Come In Last
PYMNTS
JUNE 27, 2018
“Our new, hard infrastructure will be future-proofed to your imaginations, opening up a range of potential innovations in wholesale markets and corporate banking and retail services.”. The first product of their partnership is a revolving credit line that uses blockchain technology, provided to an unknown company.
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Amex Looks To RippleNet To Innovate B2B Payments
PYMNTS
NOVEMBER 17, 2017
American Express is the latest financial company to become a member of RippleNet, the blockchain network operated by Ripple that provides real-time, business-to-business (B2B) global payments. According to recent news from American Banker , R3 is building a cross-border B2B payments solution inspired by blockchain.
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Advancing Innovation in the Global Financial Services Industry
Insights on Business
OCTOBER 3, 2018
IBM RegTech Innovations. Advances in artificial intelligence (AI), blockchain, and cybersecurity are poised to transform the financial services industries. New hybrid cloud platforms will offer unprecedented scalability, agility, and security, optimized for enterprise AI and blockchain.
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