KEEP UP TO DATE WITH THE LEADING NEWS.
Tens of millions of jobs on the line as banks pile into AI
The global business value of the deployment of artificial intelligence in financial services is projected to reach $300 billion by 2030. The introduction of AI technology is not entirely good news for the banking industry, with job losses and job re-assignments expected as AI increases enterprise productivity.
“I think the role of the disruptors and anything that uses distributed ledger technology, crypto assets/currencies-is clearly shaking the system.“
the IMF's Christine Lagarde
Standard Chartered Bank announces the opening of its Africa eXellerator lab
The Africa eXellerator innovation hub will serve as a platform to collaborate with fintechs in Kenya and the broader African region, drive innovation and develop new business models or services to meet client needs in the Africa region. This is SC's fifth such one globally.
Events on Our Radar
Paris Blockchain Week
April 15-17 2019 //Paris//France
The event is the biggest Blockchain & Digital Assets event in Europe. During it, numerous events will be held by the most prominent blockchain organizations.
RBS and Barclays trial blockchain tech for property transactions
RBS and Barclays Bank have completed a blockchain trial with R3's distributed ledger software which reduced time taken to complete property transactions from three months to three weeks. A growing number of Financial Institutions have been utilizing blockchain.
VPE Bank First In Germany To Support Crypto For Institutional Traders
Germany’s VPE bank, in a partnership with FinTech firm solarisBank, has become the first in the country to offer cryptocurrency trading to institutional investors. The BaFin-regulated bank asserts its compliance with "all necessary KYC (Know your Customer) and AML (Anti-Money-Laundering) requirements." The services include automated cryptocurrency trading and access to cryptocurrency wallets hosted by the bank.
"FinTech has only realized a fraction of its potential. The real opportunity lies in emerging markets, which are still largely untapped due to the lack of access to financial services."
Arif Amiri, CEO of Dubai International Financial Centre
Monzo second-largest UK fintech startup
After reportedly closing a £100 million funding round, digital challenger bank Monzo will see its valuation double to nearly £1.9 billion and become the UK’s second most valuable fintech startup. It has also launched beta testing for new business accounts and recently announced plans to introduce an UK Isa account.