Capgemini launches global fintech initiative
Consulting and technology giant Capgemini has launched a global initiative that will fast-track fintech engagements with its financial services clients around the world. Capgemini’s fintech initiative will bring together its domain and integration expertise to scan, select, and evolve innovation for its clients, through an intense curation and collaboration process. The project extends beyond the traditional incubator concept to encompass connection, curation, incubation and investment stages, Capgemini said. It also aims to address one of the biggest challenges in integrating external innovation by bridging gaps in adoption, including tech integration, data management, process changes, and compliance and regulatory requirements. “Be it generating exceptional customer experience or improving operational efficiencies, fintech […]
London retailers will soon be taking payments using blockchain
Fintech company SETL has developed the card with global auditing firm Deloitte. Customers of the UK’s Metro Bank will soon be able to use a payments card that utilises blockchain technology. The card, which is being developed by Deloitte and fintech company SETL, is intended for the retail sector, the aim being to reduce the cost of processing merchant payments compared to credit and debit cards. The service could launch as soon as early 2017. SETL CEO Peter Randall said the card will update the balances of both the retailer and the customer in real-time. “What this allows people to do is to effectively make a payment from their account […]
Singapore tests blockchain digital currency system for banks
Singapore will launch a new electronic payment system using blockchain, the technology behind the cryptocurrency Bitcoin, the city-state’s central bank chief said Wednesday. The Singapore stock exchange and eight banks will take part in the pilot project, which includes payment between banks, said Monetary Authority of Singapore (MAS) chief executive Ravi Menon at the Singapore Fintech Festival. Blockchain technology debuted in 2009 as a public ledger for the digital currency bitcoin, but its potential for securely tracking transactions has meant it is being eyed for other uses. The pilot project aims to integrate the service into the mainstream as the Southeast Asian country seeks to become a regional hub for […]
Here’s why Trump’s win boosted Bitcoin
As Trump’s electoral victory became clear, global markets plunged into volatility. Dow Jones stock futures dropped by 3.8% in premarket trading, S&P futures by 3% overnight, and Nasdaq futures by almost 5%. All major European indices dropped by 2%, on average. The price of bitcoin, however, surged around 4% to reach highs of $738.33 overnight. The cryptocurrency saw similar gains in June after the Brexit vote, suggesting that investors are increasingly turning to bitcoin in times of political and economic uncertainty. There are a number of reasons why bitcoin proves attractive in these circumstances: It’s an alternative asset. Alternative assets are non-traditional assets — other examples include precious metals and […]
Here’s why India’s fintech sector could boom
India’s prime minister, Narendra Modi, announced on Tuesday that existing R500 ($9.93) and R1,000 ($19.86) banknotes would no longer be legal tender from November 9, with airports, railway stations, and hospitals only accepting them until November 11. The government made the surprise move in a bid to combat “black money,” or currency that is unaccounted for, and counterfeit currency. Consumers have until December 30 to exchange their R500 notes for new editions with enhanced security features, while limited numbers of new R2,000 ($39.70) notes have been issued. A replacement R1,000 note will be introduced in “due course,” according to a government official. Here’s how the government’s move could benefit the […]
The world’s biggest bitcoin wallet provider will have a record month thanks to Trump
The world’s biggest bitcoin wallet provider will “pretty easily” have its biggest ever month for activity in November, following a surge in use after Donald Trump’s shock election victory in the US. Peter Smith, the Co-Founder and CEO of London-based Blockchain, told Business Insider: “We’re setting a new record pretty much every day since the election in terms of activity on the platform. “People are basically hedging against economic instability. It’s a worrying time to be holding a lot of British pound or if you’re America — people flee to safe haven assets. Bitcoin is one of those. Bloomberg added to its list of safe havens last week actually.” The […]
Prospa takes first place in Smart50 Awards
Prospa took out first place at the Smart50 Awards in Melbourne last night. The Awards recognise Australia’s top 50 fastest growing SMEs and were dominated by fintechs and retailers. Prospa was awarded first place with incredible growth of more than 1000% over the past three years. “We are thrilled to be named #1 in Australia,” said Beau Bertoli, Joint CEO of Prospa. “Winning demonstrates that we understand the finance needs of small businesses. However this is just the beginning of our journey. We’ll continue to innovate and create ground breaking finance experiences to help Australian small businesses succeed.” “We’re the leading online lender to small business […]
Ignition Wealth Survey gathers data on financial professionals true fintech needs
Ignition Wealth Head of Sales and Marketing, Richard Liverpool has initiated a series of Ignition Wealth Surveys, seeking to delve deeper into the financial technology needs of Australian financial professionals. “The key to our successful business development is understanding exactly why our B2B customers are passionate about digital financial advice, the benefits for them and the benefits for their clients.”. Richard Liverpool, Head of Sales and Marketing, Ignition Wealth. Ignition Wealth has partnered with Bali’s newest luxury resort, the Movenpick Resort and Spa Jimbaran. Completing the survey gives participants the opportunity to win a four night stay in a luxurious Movenpick Resort and Spa Jimbaran Junior Suite, daily breakfast, […]
