Fintech patents jump in “arms race” between banks and startups: These are the 10 countries filing the most April 18, 2017 The number of patents being filed for financial technology have jumped amid an “arms race” between fintech startups and banks, new figures reveal. Global fintech patents have grown by 49 per cent in the past five years, reaching 9,545 in 2016 according to official global filings. “The surge in patents reflects both the proliferation of [...]
Lloyds Bank, Halifax and Bank of Scotland online banking customers will soon be able to use facial recognition technology for login instead of passwords with Microsoft Hello April 17, 2017 Lloyds is the latest bank to jump on the biometric bandwagon with new plans to let users login simply by showing their face to a camera. Online banking for customers of Lloyds, Halifax and Bank of Scotland will now come with a new security option that replaces a password with a selfie or a fingerprint. [...]
FCA investigates Barclays boss Jes Staley: Here’s how four City analysts reacted April 10, 2017 Confusion reigned in the City this morning, after the Financial Conduct Authority (FCA) said it was investigating Barclays chief executive Jes Staley over his attempt to identify a whistleblower at the bank. It was reported that Staley may even lose a hefty chunk of his bonus as a result. Investors weren’t sure what to make [...]
Barclays share price dips as FCA probes chief executive Jes Staley over a whistleblower case while the lender cuts his annual bonus April 10, 2017 City watchdogs are set to probe Barclays’ chief executive Jes Staley after he attempted to identify a whistleblower at the bank. Barclays said it will issue a formal reprimand and will make a “very significant” adjustment to Staley’s bonus. The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) will probe Barclays’ boss after [...]
What’s the biggest opportunity for UK fintech after Brexit? Here’s what those in the know say ahead of the Innovate Finance Global Summit April 10, 2017 Six experts give their opinion on what the biggest opportunity for UK fintech us after the vote to leave the EU. Mike Laven, CEO Currencycloud Continued international investment in UK businesses, such as ours, indicates faith that the UK continues to be the epicentre of fintech. Entrepreneurs are the masters of dealing with a changing [...]
The government has given “categorical assurance” that blockchain technology will not be used to monitor benefit claimants after trial with Govcoin, Barclays and Npower | City A.M. March 27, 2017 Lord Henley, parliamentary under-secretary for the department of work and pensions (DWP), has given “categorical assurance” that blockchain technology will not be used to monitor or control those claiming benefits after a small scale trial of the technology for making payments. “The department of work and pensions has absolutely no access to any claimant information [...]
Tech workers are twice as productive for the UK economy, Tech Nation 2017 report finds March 22, 2017 Those working in the booming digital technology sector are boosting the UK’s economic productivity more than twice as much as other workers, fresh research reveals. Tech industry workers’ contribution to the economy is put at £103,000 per year in terms of Gross Value Added (GVA) compared to the £50,000 contribution of non-digital workers, Tech City [...]
Banks don’t want a red tape Brexit bonfire, but lower taxes would sweeten the deal March 20, 2017 Banks are calling on the government to slash taxes for the sector to sweeten the deal for Brexit and ensure the country remains competitive. Research carried out for the British Bankers' Association (BBA), which was published in November, revealed banks' collective tax bill had shot up to £34.2bn for the year to March 2016, up 3.6 per cent compared [...]
Three charts showing why we remain very happy to hold UK banks March 20, 2017 Investors have tended to steer clear of the UK’s big banks since the financial crisis bit in 2008, when share prices plummeted and Lloyds and Royal Bank of Scotland (RBS) had to be bailed out with taxpayer money. As we tend to do, on our Value Perspective blog, we took a different view – arguing [...]
Three charts showing why we remain very happy to hold UK banks March 20, 2017 Investors have tended to steer clear of the UK’s big banks since the financial crisis bit in 2008, when share prices plummeted and Lloyds and Royal Bank of Scotland (RBS) had to be bailed out with taxpayer money. As we tend to do, on our Value Perspective blog, we took a different view – arguing [...]