fintech
Global fintech investment slump worsens: UK suffers 'steep drop'
The slowdown in funding activity during 2024 comes after a year so bad it was described as a "bloodbath" for fintech startups.
natwest
Natwest launches new RAG chatbot pilot
Cloud-based ChatGPT 3.5 turbo as the underlying model, with NeuralSeek-powered RAG in support.
Monzo
Monzo finally turns a profit, ramps up tech spend £18.5m
The challenger bank has made big investments in tech and is committed to building its own native systems to own every part of its stack
Banking
A Citi popup showed a trader 711 alerts: They clicked it away – and generated $196 billion in trading orders by mistake
90% of controls on one trading desk were manual and key processes including trade pricing were "conducted manually, predominantly, in Excel spreadsheets..."
Bank of England
Bank of England's tech overhaul: 'Open Sesame' or more friction?
Proposed changes for account onboarding front-load compliance burden, even as technology gets slicker...
Sponsored
Banks are sitting on a data goldmine: Firstly though, they need to unlock it...
Stored procedures in Sybase-based applications that have become a "humungous monster" do not make that easy. One banking multinational is testing the switch to MongoDB...
Sponsored
CTO Nick Fryer on how Dojo rebuilt in the cloud to disrupt the payments market
"The entire system is event-driven. Everything is on the public cloud and the things that have very high availability requirements are on multiple public clouds. You’re not lifting and shifting some other person's nasty 1980s software. This is all brand new microservice-based software."
FIS
FIS loses a small fortune in $11.7 billion Worldpay sale: CEO admits false steps on investment
Worldpay -- "a dozen payment M&A deals in a trenchcoat" -- will find a new home in the warm embrace of private equity after investment failings.
Read This
PayPal banks on white labelled services as Apple eats its lunch
PayPal’s CEO Dan Schulman said white labelled payments processing is a “strategic imperative” for the payments company – and it will “primarily focus on enabling unbranded processing” moving forwards. The move will also give it richer datasets from merchants as it expands, which PayPal can in turn use to power
Enterprise IT
This retail bank has drawn a huge flurry of new users. Here’s why.
The retail banking market has heated up hugely in the UK in recent years, with the rise of digital-native banks like Monzo and Starling winning awards and customers – over seven million, three million respectively.) They hit the market with minimal technology debt, having built new stacks from the ground up,
Enterprise IT
Amid a fintech onslaught, attrition, Western Union tests new POS, digital services
A huge 40% of all customers don't return “due to pricing, transaction time, or poor customer..."
Enterprise IT
Federal Reserve's damning Silicon Valley Bank post-mortem cites "textbook case"...
Fed says warns tech may have changed the pace of bank runs, points to "textbook" mismanagement