• McGuire brings more than 30 years of international industry and government experience
• Previously served as Group Chief Information Security Officer (CISO) at Standard Chartered

Fintech Week London 2021 confirms the city’s status as one of the world’s most important fintech hubs

Fintech, otherwise known as financial technology, is a term to describe innovations that are revitalizing the financial services sector. They are technologies that have been implemented and integrated to help financial institutions streamline services, be more compliant, increase competitiveness, and draw in more customers. No one really knows where, when, or who coined the term, but one thing is for sure, it’s here to stay!

Financial services companies are rich in data.  But the vast majority of the data they store cannot be accessed or commercialised due to privacy concerns, operational complexity and regulations.  Data sharing enables institutions to work with larger and more diverse data sets, which helps ensure higher quality results.

Recent research finds Bitcoin mining unrealistic and unfeasible to invest in for UK businesses. Businesses in the Manufacturing industry are the most likely to succeed, however, their success probability in Bitcoin mining is 52 in 17.59 trillion and if successful, the profit only comes to £4,799.89.

Market share statistics from CMA9 banks indicate that Token is driving adoption of open banking payments in the UK

Leading open banking payments platform, Token, today releases market share statistics* showing it is driving open payments adoption in the UK.

Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown: 

‘’The banking bounce back has continued with HSBC doubling first half pre-tax profits as economies come out of their defensive hiding places, and the spectre of bad debt recedes.

Pre-tax profit for the period rose to $10.8bn, compared to $4.32bn for the same time last year.

For a host of banks, the Buy Now Pay Later (BNPL) revolution has felt like something of an uphill battle, as agile fintechs reacted fastest to shifting consumer behavior, bringing new solutions to market at a pace that the incumbents could not keep up with.

But was this early fintech success built on strong foundations?

YTS has been chosen by Dutch accounting software provider Jortt to provide API technology to power its services.

TraditionDATA, the data and information services division of Compagnie Financière Tradition (Tradition), has today announced the launch of its new Secured Overnight Financing Rate (SOFR) Indicative Rate Service. 

Tradition will combine market leading general collateral (GC) repo trade and volume data sourced from its number one interdealer brokerage desk, alongside anonymized tri-party repo trade and volume data from BNY Mellon.