SBI & IBM to trial blockchain for bond trading
Japan’s SBI Securities has teamed up with IBM to test the potential of blockchain technology for a new type of bond trading platform. Using Hyperledger Fabric technology, SBI will test the entire product cycle of registering a bond until its reimbursement; make improvements in efficiency and automation of operations by sharing databases; reduce infrastructure costs by sharing among the parties involved and evaluate the use of blockchain technology for securities operations and systems.
Nationwide targets digital with new additions
Nationwide Building Society has announced five new appointments to bring additional weight and knowledge to its commitment to digital innovation, mobile channel, payments, data and security innovation. The individuals are a range of experts from the payments, FinTech, mobile channels development, cyber security and data industries.
Synchrony Financial joins R3
Synchrony Financial has joined the R3 distributed ledger consortium, becoming the first credit card company to do so. Synchrony will be collaborating with some of the largest financial institutions in the world to develop commercial applications for the financial services industry using distributed and shared ledger technology.
Banks combine in IoT and blockchain first
Commonwealth Bank of Australia, Wells Fargo and Brighann Cotton, have undertaken what is believed to be the first global trade transaction between two independent banks combining the emerging disruptive technologies of blockchain, smart contracts and Internet of Things. The transaction involved a shipment of cotton from Texas in the US to Qingdao in China, using the efficiencies of a distributed ledger – Skuchain’s Brackets system – for all parties.
Masterpass QR to reach 33 African countries
The Ecobank Group has signed a Memorandum of Understanding (MoU) with Mastercard to roll out Masterpass QR, a mobile payment solution, across 33 African countries. The MoU signals the largest Masterpass deal of its kind for Mastercard globally, expanding the service which is currently only available in Nigeria.
Visa introduces blockchain payments pilot
Visa has unveiled a preview of its new blockchain payment solution that it is developing to give financial institutions a simple, fast and secure way to process business-to-business (B2B) payments globally. Visa is using technology from Chain to build the Visa B2B Connect platform. The Chain Core technology is an enterprise blockchain infrastructure that facilitates financial transactions on scalable, private blockchain networks.
BBVA and Amazon in cloud computing deal
Spanish bank BBVA has today announced a global agreement with Amazon Web Services (AWS) that aims to accelerate its global transformation through cloud computing. The agreement, which is part of a series of accords that the group is forging with strategic providers, turns AWS into the preferred cloud infrastructure services provider for BBVA.
PayPal transactions up 24 per cent
PayPal has revealed a 24 per cent increase in processed transactions, surpassing 1.5 billion, which translates to 30 transactions per active account on a trailing 12-month basis, according to its 2016 third quarter results for the period ending September 30. The number of active customer accounts rose 11 per cent to 192 million, with growth of 19 million active customer accounts worldwide.
Payments Awards 2016: winners announced
Mastercard, Verifone, Raphael’s Bank, Vodafone and RateSetter were among the companies who took home a coveted trophy at the fourth annual Payments Awards 2016 last night, hosted by FStech and Retail Systems. Recognising cards and payments excellence and innovation, these awards were hotly contested, with the winners revealed at a prestigious gala dinner and awards ceremony at the London Marriott Hotel in Mayfair last night. Congratulations to all of our winners
FStech talks to Tony Reid of HDS about the compliance issues facing financial institutions and FinTech firms
MarkLogic’s Chris Atkinson discusses how data affects your ability to comply with regulation with FStech.