Why Bankers Are Leaving Finance for No-Salary Tech Jobs
It was February 2012 and banks, dealing with the fallout from the credit crisis, had culled more than 230,000 jobs the year before. Stu Taylor, the London-based global head of matched principal trading at UBS Group AG, figured he better get out. So he left his seven-figure salary and risked his life savings on a technology startup.
Wall Street Invests in Fintech Startups
Financial technology startups are getting funding from the very industry they hope to disrupt.
Known in short as fintech, these startups are changing the way people pay, lend, and invest, threatening the long-established and entrenched financial systems. In the past couple years, fintech has increased in notoriety among financiers and investors, most notably in London and New York.
This Is What Real Innovation in Banking Would Look Like
Virgin Money CEO, Jayne-Anne Gadhia, explains why the banking sector should follow the example of the mobile phone industry and allow some genuine innovation to take place...
8 Emerging Sectors in Fintech That Global Investors Should Explore Now
Today, because of the JOBS Act and other regulatory change occurring around the world, we’re seeing a renewed focus on innovation in the private capital markets. The technology now being created for accredited investor online platforms and related services is creating greater transaction flow, transparency and, over time, liquidity.
Facebook Introduces Free Friend-To-Friend Payments Through Messages
When you chat with friends about settling debts or splitting the bill, Facebook doesn’t want you to have to open another app like PayPal or Venmo to send them money. So today it unveiled a new payments feature for Facebook Messenger that lets you connect your Visa or Mastercard debit card and tap a “$” button to send friends money on iOS, Android, and desktop with zero fees. Facebook Messenger payments will roll out first in the U.S. over the coming months.
UK Government Pushes Ahead with Plan for Open Banking API Standard
The UK government has promised to work with banks and fintech firms to have a detailed framework set out for an open API standard by the end of the year, in a move it claims will empower consumers and boost competition.
Amazon Loses Its General Manager Of Payments Following Wallet Shutdown
Amazon’s VP and General Manager of Payments, Matt Swann, who most recently oversaw initiatives including Amazon’s Square competitor called Local Register and Amazon Wallet, has left the company, TechCrunch has confirmed. The move comes shortly after Amazon shut down its beta version of Wallet in January amid mediocre reviews, and an increasingly competitive landscape where Apple Pay and Google Wallet now dominate.
Alibaba's Jack Ma Shows off New 'Pay with a Selfie' Technology
One thing is for sure – it’s better than having to remember another password.
Alibaba Group Holdings BABA -0.63% founder and chief executive Jack Ma Monday showed off the company’s new facial recognition tool, intended for use with Alipay mobile payments service.
Berlin Based FinTech Incubator Launches Third Venture, Valendo
The Berlin-based FinTech incubator FinLeap today welcomed a new venture into the market. Their latest startup Valendo is in essence a ” luxury online pawn shop”, providing their customers with quick, no-fuss access to capital, with no need for external credit checks.