By Izabella Kaminska for Finantial Times,
UBS’s Paul Donovan offered some thoughts earlier this week on the unintended consequences of negative rate regimes, which — whilst interesting — stimulated a different thought in us related to data. (more…)
By Mary Wisniewski for the American Banker Magazine,
Rather than partner with a neobank, a more than 45-year-old Canadian financial services company chose to build a digital-only brand to acquire retail customers and to control the user experience. (more…)
By Oliwia Berdak for the Amrican Banker. Oliwia Berdak is a senior analyst at Forrester Research.
These days most banks seem to have an innovation lab, accelerator or a venture capital fund to encourage tech experimentation. But these corporate startup programs are driven by either hope, fear or a herd effect. That is, if their banking competitors have a vehicle to promote innovation, they need one too. (more…)
The Siam Commercial Bank (SCB) is setting up its first venture capital fund, with a target size of up to $50 million, focussed on startups raising Series A or higher stage capital, a source familiar with the development told DEALSTREETASIA. (more…)
By Michael J. Moore, Ambereen Choudhury, Elisa Martinuzzi for Bloomberg business
Fintech was every banker’s buzzword at the World Economic Forum, as leaders of the world’s largest financial companies both touted the potential of new innovations and leaned on regulators to control the startups threatening parts of their business. (more…)
Spanish bank BBVA now has 500 staff members working in small scrum teams to rush through the development of new projects, representing a five-fold increase over the past year. (more…)
With the financial industry heating up, banking giants are looking to catch the innovation wave and leverage the opportunities FinTech startups create. One of the largest American banks, Bank of America—along with other banking industry giants—is taking steps to embrace FinTech and innovation in a wide range of financial services. (more…)
By Steve O’Hear for Techcrunch.com,
Mambu, the SaaS banking platform, has raised a further €8 million in funding. The round was led by Acton Capital Partners and CommerzVentures, with participation from existing investors. The additional capital will be used to expand its commercial team, invest in the platform and to open new offices in Asia and the Americas. (more…)
by Maricel Burgonio for Manila Bulletin,
China Bank Savings (CBS) has partnered with PLDT unit Voyager Innovations to service loans through Lendr, the country’s first online marketplace platform for consumer loans. (more…)
By Shiwen Yap for Dealstreetasia.com,
Mobile payment is set to become a viable everyday tool over the next few years (more…)
Malayan Banking Bhd (Maybank) has teamed up with Malaysian Global Innovation and Creativity Centre (MaGIC) to boost start-ups in the financial services industry in ASEAN.
In a statement today, Maybank said it would leverage on MaGIC’s expertise, regional reach and resources to nurture local and regional start-ups. (more…)
Southeast Asia’s leading lender DBS Friday committed S$10 million ($7.1 million) for Singapore’s startup ecosystem over the next five years, and a bulk of this amount is slated to go into programmes run by the bank such as its partnerships with local accelerators and incubators.
Vladislav Solodkiy, Managing Partner, Life.SREDA VC:
These days many countries are talking about the importance of innovations in the financial sector. Many of those are claiming that they will soon become the first to go completely cashless. They may be saying so, but what if they don’t really know how to do it? (more…)
Vladislav Solodkiy, Managing Partner, Life.SREDA VC
“Innovator’s Dilemma”: are the banks capable of making innovations by themselves? (more…)