Companies & Products

It looks like JPMorgan is building a robo adviser

In the summer of 2016, JPMorgan Chase & Co. CEO Jamie Dimon said his firm could give clients a free, automated investment service as part of a future bundle of digital-banking products. Well, he just revealed the bank is following through on that promise and building one. “We are currently developing some exciting new products… »

Big banks poised to scoop up fintech startups, report finds

Almost 50 percent of financial services firms around the world plan to acquire fintech startups in the three to five years, according to a report Thursday by PricewaterhouseCoopers LLP. And eight out of 10 institutions foresee making strategic partnerships with peer-to-peer lenders, digital money transfer platforms, and myriad other firms that are reshaping the business… »

JPMorgan’s head of new technologies gets hired by LendingClub

Santiago Suarez will join the San Francisco-based company as Head of Strategy and Mergers and Acquisitions, he said on Twitter. He was previously JPMorgan’s head of new product development and emerging technologies, a group he co-founded and which has helped the biggest U.S. bank experiment with the digital ledger known as blockchain as well as… »

Buy side gains edge in bond trading by turning data on banks

His confidence comes from having analyzed more than 100,000 debt transactions made by Pictet Asset Management, the $165 billion investment firm he works for as global head of fixed-income trading. James used the data to create profiles of banks, helping his firm avoid dealers that are expensive or difficult to trade with and instead prioritize those that are… »

SQS consultancy makes deal with TestPlant to deliver testing solution

London-listed quality assurance consultancy SQS has entered an agreement with testing tool specialist TestPlant to make use of its eggPlant testing tool. Under the terms of the agreement SQS will have access to the full range of eggPlant tools, including its mobile cloud solution, as well as technical support from experts at TestPlant. Ralph Gillessen,… »

Square boosts global payments ambitions with U.K. Expansion

Though Square has already planted a flag in Canada, Japan and Australia, the U.K. represents its best opportunity to sign on new merchants and increase sales volume. The world’s fifth-largest economy has a high concentration of small and medium-sized businesses that are Square’s target customers. The U.K. has “always been an example of entrepreneurship and… »

UK’s Financial Conduct Authority extends partnership with Cognizant

The UK’s Financial Conduct Authority (FCA) has signed a new deal with with Cognizant, extending a business relation that started in 2011. The technology consultancy will work with the regulator to enhance core applications and improve the quality assurance process. The three year partnership agreement will expand the scope of the Cognizant’s work with the… »

StanChart Says Almost `Over Hump’ on Costly Compliance Upgrades

The London-based bank spent 60 percent of its $1 billion technology budget on compliance-related systems last year and plans a similar allocation for 2017, Chief Information Officer Michael Gorriz said in an interview in Singapore. The remainder is for other investments to improve products and services, he said. “We hope that we are over the… »

Cognizant partners with FSCS to provide technology services

The UK’s Financial Services Compensation Scheme (FSCS) - an independent body funded by the financial sector in order that compensates customers when firms fail  - has chosen US-headquartered IT service provider Cognizant to improve customer experience and increase efficiencies through the use of technologies. Cognizant says that over its three year engagement it will help… »

Alphabet leads investment in U.K. payments startup Currencycloud

The funding will be used for international expansion in the U.S. and elsewhere, as the company attempts to take advantage of the growing use of mobile phones to send money, according to a company statement Thursday. Similar to competitors such as San Francisco-based Stripe, Currencycloud provides the technical infrastructure that powers cross-border payments for banks and… »

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