Financial institutions across the globe will spend $127 billion on financial technology this year although surprisingly only $6 billion will be slated toward regulation and compliance, according to a new report, “FinTech Spending and Innovation in Capital Markets on IT,” published by consultancy Opimas. Axel Pierron, co-founder and managing director of Opimas and co-author of… Read More >>
Report Finds Firms Falling Behind the Tech Curve
Although there has been a great deal written about how financial service firms are embracing fintech to meet the many regulatory challenges to come, only around 25 percent of senior executives at global institutions say they have the technology capability to support their firms’ growth ambitions, according to a new report, “The Hunt for Growth,”… Read More >>
Four Women Nominated for Top Ops Prize of FTF Awards
Four women have made the list of nominees for the Ops Business Person of the Year category of the 2017 FTF News Technology Innovation Awards, reports Financial Technologies Forum (FTF), owner of online news service FTF News and FTF Focus magazine. In addition, FTF reports that it has finalized the list of nominees and has… Read More >>
ChartIQ, Beast Apps & Tick42 Join Open Source Group
A nonprofit group for the development of open source software for the financial services industry, the Symphony Software Foundation, which supports the Symphony messaging platform, is adding charting and data visualization provider ChartIQ, data and analytics application vendor The Beast Apps and real-time products and services provider Tick42 as new, cutting-edge members. The Foundation has… Read More >>
New OCC Group to Push FinTech Innovation
The Office of the Comptroller of the Currency (OCC) quietly let it be known that it is creating an office “dedicated to responsible innovation” that will build a formal framework to help the agency “identify, understand, and respond” to the growing number of FinTech changes impacting the federal banking system. Citing the exponential growth of… Read More >>
Texas Hedge Fund to Use Broadridge Platform
Hedge Fund Signs Up for Broadridge’s Service The Austin, Texas-based Prophet Capital Asset Management, a $2.3 billion structured credit hedge fund, is using an integrated trading, portfolio management and operating platform from Broadridge Financial Solutions to support a single platform for trading, according to Broadridge. “An established structured credit fund like ours, with a two-decade… Read More >>
Wipro to Acquire Viteos Group for $130 Million
Wipro Ltd., a Bangalore, India-based IT management, consulting and business process services (BPS) company, reports that it has agreed to acquire Viteos Group, a business-process-as-a-service (BPaaS) provider for the alternative investment management industry. The acquisition is meant to add the buy-side capabilities of Viteos to Wipro’s existing sell-side credentials, according to a Wipro statement. Viteos,… Read More >>
FTF News Kicks Off Sixth Annual Technology Innovation Awards
Financial Technologies Forum, LLC (FTF) is opening the nomination process today, Jan. 6, for the sixth annual FTF News Technology Innovation Awards, a pioneering awards ceremony in which industry participants recognize their peers for outstanding achievement in optimal operations. The FTF News Technology Innovation Awards for 2016 allows industry participants to recognize the important contributions… Read More >>
Questions Remain Ahead of SunGard IPO
Investor appetite for FinTech giant SunGard’s recently announced initial public offering (IPO) remains unclear at this point, but solid products and a good position within the market could prove to be bright spots, according to a new report. Recently released by FinTech-focused investment bank FTPartners, “Transaction Profile: SunGard Files for its IPO,” highlights many of… Read More >>
Boom Years Ahead for FinTech, Report Says
After a long period of relative obscurity, the financial technology (FinTech) sector is finally coming into the spotlight, attracting enough attention and startup capital to suggest big changes could lie just over the horizon. For proof, just follow the money. In 2013, global investment in FinTech stood at just $4.05 billion. Last year it exploded,… Read More >>
