New research from analytic database firm Exasol has found that almost 40 per cent of businesses in the financial services industry (FSI) are currently failing to implement data initiatives due to a lack of employee skills. The research asked enterprises about the importance of data to their business, the strategies they are looking to implement in future, and the barriers to achieving their goals for data and analytics.

Banking has been around since the early days of our civilisation. Shaped by multiple reconfigurations of the world order, it has been an ever-changing industry, adapting to an ever-evolving society. Banking has been at times a way to transfer value across time (from the Silk Road promissory notes, to the modern complex lending system) and space (from cocoa beans and cheques to Ripple’s XRPs). More often than not, banking has been a source of trust for its stakeholders and the relationships amongst themselves.

Refinitiv and MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, and the provider of market data and post-trade services for the global fixed-income markets, have entered into an agreement to redistribute MarketAxess’ fixed income market data to Refinitiv’s customers via its Elektron Data Platform. 

UTP Merchant Services, a leading credit and debit card payment solutions specialist, has expanded its Hastings branch creating fifty new jobs in the area in order to support business growth.

Supported by Locate East Sussex and backed by a 'Growth Capital Funding’ grant from East Sussex Council, the expansion will see UTP Merchant Services recruit 50 new telesales staff, to be based on another floor of their current Ocean House branch in St. Leonards-on-Sea.

New fintech-based startup, Upgrade Pack has exceeded its £500,000 fundraising target with leading European investment platform Seedrs. Since launching its crowdfunding campaign in March, the closed marketplace for discounted flight and hotel upgrades has attracted over 350 investors through the Seedrs community. With 25 days still left to run, the company is now overfunding.

 Kyriba, the global leader in cloud treasury and finance solutions, today announced that it has closed a $160 million growth investment round led by Bridgepoint, an international private equity group, which gives Bridgepoint a majority stake in the business. The closed deal values Kyriba at $1.2B and Daher Capital, Iris Capital and CEO Jean-Luc Robert will continue on as investors in the company. With the new capital, Kyriba will enhance product development and customer support, and expand its partner ecosystem.

Model Risk Management (MRM) frameworks are increasingly attracting the attention of auditors and regulators who are raising the bar in two key areas:

Vayana Network, India’s largest 3^rd party Short-Term Trade Finance (STTF) platform, announced that it has facilitated over Rs.15000 crores in trade finance. Vayana’s digital Network enables businesses and their trade partners get easy, convenient and fair-priced access to financing from Financial Institutions (FIs), such as Banks and NBFCs.

The banking technologies company Penkių kontinentų bankinės technologijos (BS/2) of Penki Kontinentai Group received an exceptional award from the world leader of the banking and trade equipment Diebold Nixdorf for successful business development in Uzbekistan.

SWIFT announces today that it has been admitted to the next phase of the tender process to provide connectivity services to all Eurosystem market infrastructures (also known as TARGET services).