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Established 1995
Monday 27 January 2020

LATEST NEWS

Shawbrook Bank names Doignie head of FinTech

Shawbrook Bank has named industry veteran Stuart Doignie as its first head of FinTech strategy and commercialisation. The small and medium-sized enterprise (SME) lender, founded in 2011, made the hire as it prepares to grow its specialist lending proposition.

‘Brexit to blame’ for loss of London’s financial centre crown

More than half of financial services professionals (56 per cent) now consider New York to be the world’s preeminent financial sector, against just a third (34 per cent) for the UK. This is according to Duff & Phelps’ latest Global Regulatory Outlook, which surveyed 240 senior executives working across banking, asset management, hedge funds, private equity, broker dealers and others in the UK, US and Asia.

Currencycloud gets $80m investment

Currencycloud has raised $80 million in a Series E funding round which included Visa, BNP Paribas and Siam Commercial Bank. International Finance Corporation - a member of the World Bank Group - and SBI Group also joined the round, alongside existing backers Sapphire Ventures, Notion Capital, GV, Accomplice and Anthemis.

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Digital currency governance consortium launched

Following extensive consultation with the global community, the World Economic Forum has announced the Global Consortium for Digital Currency Governance. This is the first initiative to bring together financial institutions, government representatives, technical experts, academics, international organisations and members of the forum’s communities on a global level.

Bailey calls for BigTech to work with regulators

Andrew Bailey, the incoming Bank of England (BoE) governor, has called for BigTech companies to collaborate with regulators to help protect consumers. In a podcast interview, in which he reflects on his tenure as chief executive of the Financial Conduct Authority (FCA), Bailey said the regulator would need help from tech giants to ensure that the revolution in data and digital services does not harm consumer rights and protections; particularly with regards to false advertising.

Banks ‘denying reimbursement to scam victims’

Which? research has revealed that some of Britain’s biggest banks are refusing to reimburse victims of money transfer fraud, despite the introduction of new industry standards intended to protect consumers. The introduction of a voluntary code in May 2019 was aimed at ensuring that all victims get their money back, but the consumer champion heard from a number of people who said they were denied reimbursement unfairly.

Finnish FinTech Holvi to launch SME services in UK

Finnish digital banking service Holvi has launched its small and medium-sized enterprise (SME) banking services in the UK. BBVA-owned Holvi, founded in 2011, provides the self-employed, sole traders, freelancers and small business owners with digital banking services, including a business payment account with a Mastercard, invoicing tools and automated bookkeeping capabilities.

Using Adobe analytics helps businesses achieve 1.7x customer retention
99% of experience driven FS Businesses consistently use analytics for testing and optimisation, improving customer satisfaction metrics by 1.8 times.

To learn more – please read the 2019 Digital Trends: Financial Services in Focus report. Download here
Assessing the cloud migration landscape
FStech editor Peter Walker sits down with Rackspace solutions director Rhys Sharp to discuss cloud adoption challenges - skills shortages, cultural barriers, legacy systems - and the solutions that the company offers, as well as trends within cloud migration and regulatory attitudes towards the industry.

Bank of England plans public cloud shift

The Bank of England (BoE) is planning to make more use of public cloud services as part of its One Bank Services Transformation strategy. It has begun to look for partners to work with it in the design and construction of a new hybrid cloud environment under a two-year deal scheduled to start in April.

Tesco Bank to create 120 tech jobs

Tesco Bank is to create 120 new technology and change roles across its Edinburgh and Newcastle offices, as part of a wider investment in customer-centric solutions. Roles the bank is recruiting for include: test, software and systems engineers, systems architects, solution designers, project managers, IT and business analysts.

Two thirds of FS roles require digital and tech skills

Two thirds (66 per cent) of job roles in financial services industry require digital skills from prospective candidates. Analysis from Gov.uk of eight million job adverts found that the industry where digital skills were most in demand was information and communications (79 per cent).

99% of experience driven FS Businesses consistently use analytics for testing and optimisation, improving customer satisfaction metrics by 1.8 times.

To learn more – please read the 2019 Digital Trends: Financial Services in Focus report. Download here
FStech editor Peter Walker sits down with Rackspace solutions director Rhys Sharp to discuss cloud adoption challenges - skills shortages, cultural barriers, legacy systems - and the solutions that the company offers, as well as trends within cloud migration and regulatory attitudes towards the industry.

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