Blockchain is warming up: Asset manager Natixis says it has made the industry’s first ‘real’ transaction using the technology on the FundsDLT platform July 6, 2017 France’s Natixis Asset Management claims it has made the first “real” blockchain transaction completed in fund distribution, as investors purchased shares in its funds via the technology. Natixis announced last month that it would be the first asset manager to use the FundsDLT platform, a blockchain-powered fund distribution platform. Read more: Blockchain wallet business raises [...]
Firms could be shocked at financial fallout from Petya and Wannacry cyber attacks, warns Lloyd’s of London June 28, 2017 Firms could be shocked at the cost of cyber attacks, such as yesterday’s Petya ransomware hack, with one of the City’s oldest financial institutions warning the reputational fallout is “what kills modern businesses”. Lloyd’s of London said today businesses need to prepare themselves for “slow burn” costs that follow cyber attacks such as reputational damage, [...]
Insurance sector readies for soaring M&A (merger and acquisition) activity as firms look to spend surplus capital following Solvency II Directive June 12, 2017 A surge in mergers and acquisitions (M&A) and share buybacks could sweep Europe’s insurance sector this year, as firms look to put surplus capital to work. According to a survey of chief financial officers conducted by Moody’s Investors Service, low interest rates remained the single biggest worry in the sector. The results gathered opinion in [...]
One year until The EU General Data Protection Regulation: The business world speaks out about the biggest ever overhaul of data legislation May 25, 2017 Exactly one year from today, “the most lobbied piece of legislation in history” – the EU’s General Data Protection Regulation (GDPR) – will be enacted, radically overhauling the relationship businesses have with personal data through a raft of new obligations and consumer rights. The way firms collect, store, process and protect the personal information of [...]
Leicester City owners agree to buy Belgian club OH Leuven as football’s multi-ownership trend grows May 17, 2017 Leicester City have become the latest English team to gain a sister club after owners after King Power completed the purchase of Belgian side Oud-Heverlee Leuven. The Foxes’ Thai owners have signed an agreement to buy the Belgian second division club once due diligence is completed, although it is not clear what future relationship the [...]
Catherine McGuinness replaces Mark Boleat as the City of London Corporation’s new policy chairman May 4, 2017 Catherine McGuinness is replacing Mark Boleat as the City of London Corporation’s new policy chairman. McGuinness, who was previously deputy chairman, will be responsible for taking a lead on policy issues affecting the UK’s financial and related professional services sector. She will also work towards ensuring the City remains a global financial centre after Brexit [...]
What Brexit: Venture capital investment in UK startups is up and the future “optimistic”, KPMG Venture Pulse Q1 2017 figures show April 11, 2017 Britain has apparently shaken off the Brexit vote, with fresh figures revealing a rise in investment from venture capitalists. It helps ease concerns that leaving the EU will make the UK an unattractive place to invest and potentially torpedo the technology sector. More than $1bn (£804m) was ploughed into startups in the first quarter of [...]
How banks are benefiting from fintech innovation March 22, 2017 Digital disruption powered by nimble startups has bitten at the heels of many large financial organisations, but now the banking behemoths are striking back. Fintech’s first wave was all about new names targeting businesses and consumers with services like money transfer, foreign currency exchange, and even loans. We now live in a world where Apple, [...]
Here’s why fintech will make banks stronger March 22, 2017 Fintech’s early stages have been all about small startups taking on the banking goliaths, but the next phase will see the more established players getting a piece of the innovation game. Brian McCabe, who chairs the fintech working group at the Fintech and Payments Association of Ireland, says existing banks and financial players won’t get [...]
Why banks should say thanks to fintech startups March 22, 2017 A perfect storm of financial crisis and technological advances paved the way for a flurry of fintech activity. The sector has seen growing investment and is maturing as traditional finance houses wake up to the challenge of digital rivals. Anna Scally, partner and head of KPMG’s fintech practice in Dublin, offers several explanations why the [...]