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Established 1995
Monday 16 July 2018


Brits ‘seeking innovative payment options’

UK consumers are looking for innovative, digital payment experiences with their banks, according to a new YouGov survey on behalf of Ondot. The results found that online security and fraud prevention tops the list of what British consumers think banks should guarantee – with 60 per cent wanting peace of mind when using their cards online. The survey also discovered that consumers are keen to play a much more proactive role in managing their personal finances.

UK to become global blockchain hub by 2022

The UK has all the resources, as well as industrial and governmental will, to become a global hub for blockchain and the crypto economy by approximately 2022, according to a new report. This year should mark the inflection point at which it will become clear if the UK has marshalled its existing resources across industry, government, academia and thought leadership to achieve this exciting opportunity.

New online wealth manager launches

The wealth management sector has a new entrant, in the form of Tiller, which promises to combine proactive investment management with intelligent technology. Looking to differentiate itself from other digital-only wealth managers, Tiller is offering actively-managed funds and themed investment baskets alongside low-cost passive investment products.

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Metro Bank launches developer portal

Metro Bank has launched its developer portal, opening up its platform to Financial Conduct Authority-registered third parties wishing to build services on top of its application programming interfaces (APIs). Built in collaboration with Google’s Apigee team using Apigee’s Edge API management platform, the self-service portal allows access to the bank’s PSD2 API documentation and sandbox. Developers will also be able to access the API documentation and test out simple API queries that return sample data.

Only 20% of companies GDPR compliant

Only 20 per cent of companies surveyed believe they are compliant with the General Data Protection Regulation (GDPR), while 53 per cent are in the implementation phase and 27 per cent have not yet started their implementation. This is according to a survey carried out by Dimensional Research on behalf of TrustArc in June among 600 IT and legal professionals with responsibility for privacy at companies required to meet GDPR compliance, split equally among the US, UK, and European Union.

‘Slow progress so far’ after six months of PSD2

Today marks six months since the second payment services directive (PSD2) was introduced across Europe, promising to open up the traditional banking and payments space to the innovation of FinTech challengers. But, as several industry experts admit, so far there has been little to show in terms of new products or consumer communication.

Saudi regulator grants first FinTech permits

Saudi Arabia’s Capital Market Authority has granted FinTech experimental permits to Riyadh-based startups Manafa Capital and Scopeer. This follows the regulator’s backing for FinTech earlier this year, aiming to provide a regulatory framework that is conducive for financial innovation.

Mark Evans of FStech talks to Gerard Gibney of OpenText about the need for digital transformation in UK financial services
FStech talks to Tony Reid of Hitachi Vantara about the compliance issues facing financial institutions and FinTech firms

Goldman Sachs joins $55m Paidy funding round

Japanese payments firm Paidy has seured $55 million in a Series C funding round, led by ITOCHU Corporation, with participation from Goldman Sachs. Paidy provides an instant post-pay credit service for e-commerce customers in Japan. No pre-registration or credit card is required to use Paidy; customers simply purchase products online using a mobile phone number and email address, settling a single monthly bill via bank transfer, auto credit or at a convenience store.

BBVA reveals 2018 Open Talent finalists

BBVA has announced the finalists of its FinTech competition Open Talent, which received more than 6,000 entries from startups across 80 countries. Open Talent has been designed to drive and support disruption in the banking sector, seeking innovation that allows it to build services beyond those traditionally offered by a bank. The competition will help the FinTechs grow by providing them with access to the bank’s services and processes.

Nationwide launches FinTech Open Banking challenge

Nationwide has announced it will work with government and other businesses through the Inclusive Economy Partnership, challenging the FinTech community to develop Open Banking technology that helps improve the lives of the one in four UK households who are financially squeezed – equivalent to 12.7 million people. Launching in September, Open Banking for Good will convene established FinTechs and start-ups, through to innovators and debt and money charities.


Mark Evans of FStech talks to Gerard Gibney of OpenText about the need for digital transformation in UK financial services

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Data & regulation
MarkLogic’s Chris Atkinson discusses how data affects your ability to comply with regulation with FStech