FinTech

Deutsche Bank: Technology Is Key in the Next Five Years

John Cryan, chief executive officer at Deutsche Bank, discusses the future of big banks and finance with Bloomberg's Tom Keene during the Future of …

Financial Services

Blockchain tech could save top investment banks $8 billion a year

LONDON – Blockchain technology could save leading investment banks up to $12 billion (£9.8 billion) a year in back office cost, according to a new analysis from consultancy Accenture and operations benchmarking company McLagan.<p>A report from the pair, titled "Banking on Blockchain: A Value Analysis …

Banking

Credit Suisse CEO Says Most Cuts Done Amid Good Markets Outlook - Bloomberg

Credit Suisse Group AG Chief Executive Officer Tidjane Thiam said the bulk of the bank’s job cuts are behind it and the firm sees a strong year ahead …

Financial Services

Will the $5.1tn fund manager come down hard on executive pay?

Larry Fink’s BlackRock oversees funds worth more than double the UK economy – and there are signs it is getting more vocal<p>Among the 3,000 politicians, business leaders, economists and celebrities attending this year’s World Economic Forum in Davos will be a 64-year-old with receding hair and …

Financial Services

Bank of America Gains Market Share in Brazil as Rivals Retreat - Bloomberg

Bank of America Corp. is emerging as a winner in the fight for corporate clients and investment-banking fees in Brazil as some of its competitors …

Financial Services

Hong Kong regulator sues StanChart, UBS, KPMG, others over China Forestry IPO

HONG KONG (Reuters) - Hong Kong's securities regulator has filed a suit against Standard Chartered Plc (STAN.L), UBS Group AG (UBSG.S) and four other parties over the 2009 IPO of timber company China Forestry Holdings Co Ltd (0930.HK), according to court documents.<p>The Securities and Futures …

Financial Services

High-Speed Traders Are Taking Over Bitcoin

Zhou Shuoji is not a bitcoin believer. He says the cryptocurrency will never replace its traditional forebears, and he calls most of its proponents …

Bitcoin

FTSE retreats further after PM May's Brexit speech

| LONDON<p>Britain's top share index fell for a second day on Tuesday, with a jump in sterling following Prime Minister Theresa May's speech on Brexit hurting dollar-earning companies.<p>May promised the government would put the final deal to a vote in both houses of parliament, and said that the UK …

Financial Services

Banks Warned of Digital 'Reckoning'

Big banks and other major financial services firms face a “reckoning” and will need to sharply increase investment in digital transformation to remain competitive, according to a report from consultant Oliver Wyman.<p>The report — released on Tuesday at the World Economic Forum in Davos — warns …

Wellesley CFO: Peer-to-peer lender is profitable and sustainable despite negative headlines

The CFO of peer-to-peer lender Wellesley & Co. insists the business is sustainable and profitable, despite reports suggesting it is "battling to stay afloat."<p>The Daily Mail reported earlier this month that the peer-to-peer property lender, set up by Graham Wellesley, the Earl of Cowley, was in a …

Business

Mastercard built a mobile marketplace for farmers in East Africa

The digital platform brings financial services to small-scale farmers in Kenya.<p>More than two billion people across the world continue to stay unbanked. One of the biggest reasons for that exclusion is accessibility. In developing countries in particular, low-income groups tend to get left out of …

Technology (UK)

Standard Chartered closes $1.6 billion-plus of shipping finance deals

DUBAI (Reuters) - Standard Chartered said on Tuesday it had completed three shipping deals worth more than $1.6 billion in recent months.<p>The deals include in December a $684.5 million up to 12-year facility for BW Gas JuJu LNG, a joint venture between BW Group and Japan's Marubeni. In November, the …

Financial Services

Tech vendor Misys launches P2P lending software for banks

NEW YORK (Reuters) - Financial technology vendor Misys is launching software to enable banks to provide peer-to-peer lending to their customers as competition from young companies in the sector heats up.<p>The technology would enable retail and corporate banks to connect their customers looking for …

Banking

One of Deutsche Bank's top sales executives is leaving

One of Deutsche Bank's top sales executives is leaving.<p>Jonny Potter, who had been global head of equity sales, is on his way out at the bank, according to people familiar with the situation.<p>He was named to his current role in late 2015, when his former co-head Derek Capanna resigned and later …

Financial Services

Bank Bosses Prep Plans to Move Abroad as May Signals Hard Brexit - Bloomberg

Finance executives say they are preparing for the worst on Brexit as Prime Minister Theresa May signaled she plans to pull the U.K. out of the …

Financial Services

Square brings developer payment API toolkit to Australia

Nearly a year ago, Square unveiled a way to be a more flexible commerce technology company, launching its Build with Square program. The aim was to allow third-party software and hardware developers to incorporate Square’s ecommerce and payment processing services into their own apps and devices. …

Technology

Despite Dimon's criticism, JPMorgan funds closely track ISS on executive pay

BOSTON (Reuters) - JPMorgan Chase & Co Chief Executive Jamie Dimon has been no fan of Institutional Shareholder Services and once called investors "lazy" if they cast votes in corporate elections based on recommendations from the leading proxy adviser or its rival.<p>But JPMorgan itself turns out to …

Financial Services

Deutsche Bank is holding back on bonuses this year

Deutsche Bank, the former Wall Street powerhouse, may hold back on giving out bonuses to as many as 90 percent of bankers and traders, The Post has …

Financial Services

City of London Group reports rise in interim profits

Profit before tax comes in at £5.8m for the six months to 31 December period.<p>City of London Group has reported a rise in profit for the six months to …

Financial Services

Morgan Stanley Profit Rises on Surge in Bond-Trading Revenue - Bloomberg

Morgan Stanley reported an 83 percent increase in fourth-quarter profit as fixed-income trading revenue surged more than analysts estimated.<p>Net …

Financial Services

The Central Bank of Russia's Distributed Ledger Footprint is Growing

Russia’s central bank is continuing to grow its blockchain footprint, having announced the creation of a new FinTech association focused in part on …

Banking

New Politics, New Banking, New World

Anti-establishment sentiment has been sweeping across the world last year; with the UK voting to leave the European Union in June, the rise of Marine Le Pen and the Front National in France, Norbert Hofer and the Austrian Freedom Party's close loss in the Presidential election, Golden Dawn in …

Bitcoin

William Hague is joining Citi to help the bank understand 'the forces shaping the world'

LONDON – Former UK Foreign Secretary William Hague is joining investment bank Citi as a senior advisor.<p>The hire, first reported by Sky News, comes amid a turbulent time for geopolitics. Shocks from Donald Trump to Brexit are likely to be the main factors moving markets in 2017.<p>Hague quit frontline …

Financial Services

15 March 2017, Hong Kong

<b>Find out how AI, Machine Learning and Sentiment Analysis are being applied to Finance in a</b> new conference <b>organized by UNICOM Seminars Ltd in Hong</b> …

Software Development

National Bank Financial hires veteran investment banker Nowlan from CIBC

National Bank of Canada’s capital markets arm has hired a veteran investment banker from rival CIBC World Markets to beef up its client coverage team.<p>Dan Nowlan is heading to NBF, where he will be a vice-chair, according to someone familiar with the move. Mr. Nowlan was previously vice-chair at …

Financial Services

Revolut lets you split bills in a few taps

Fintech startup Revolut just added a nifty bill splitting feature. You can now tap on a Revolut expense and request money from your Revolut contacts without having to use a calculator.<p>Swipe on a transaction, hit the split bill button and select your contacts. Other users receive a push notification …

Technology

Canada's Portag3 Ventures invests in Street Contxt

TORONTO (Reuters) - Portag3 Ventures, a financial technology fund backed by Canada's Power Financial Corp <PWF.TO>, has invested an undisclosed amount in finance startup Street Contxt, Portag3's president said in an interview on Monday.<p>Started in 2012, Toronto-based Street Contxt lets financial …

Startups

IoT Best Practices & IoT Technology Research for Large & Small Business - BI Intelligence

The Ultimate Internet of Things Research Bundle<p>The Internet of Things (IoT) is expected to revolutionize and change the way all businesses, governments, and consumers interact with the physical world. This level of disruption will have a significant impact on the world we’ve come to know and …

Internet of Things

Deutsche Bank, HSBC, and five other big banks are collaborating on a blockchain project

Seven major banks have signed up to a new project aimed at increasing global trade among small and medium-sized businesses using blockchain, or distributed ledger, technology.<p>Deutsche Bank, HSBC, KBC, Natixis, Rabobank, Société Générale and UniCredit have all signed up to a Memorandum of …

Financial Services

Skip The Internet Of Things ETF And Buy This One IoT Stock Instead

SNSR started trading in Sept 2016 and is the only ETF targeting the internet-connected world, IoT.<p>The underlying holdings are a mish mash of products …

Internet of Things