All articles tagged with #financial technology
The article discusses how stablecoins have the potential to significantly impact global payments systems, not through technological innovation but through their influence on financial practices and markets.
European banks are planning to cut over 200,000 jobs by 2030 as they adopt AI and close physical branches, mainly affecting back-office roles, with similar trends seen in the US, aiming for increased efficiency but raising concerns about industry fundamentals.
The article discusses stablecoins, a type of digital currency, highlighting their significance in the financial technology sector and the importance of reliable journalism from the Financial Times for understanding their impact.
Milwaukee-based Fiserv reported third-quarter earnings significantly below expectations, leading to a major leadership shake-up including the appointment of two co-presidents and a new CFO, as the company aims to improve performance and drive sustainable growth.
Fiserv's stock plummeted 47% after missing earnings expectations and lowering its full-year outlook, surprising analysts and raising concerns about the company's future prospects amid systemic issues across its business units.
Fiserv's unexpected slowdown, driven by over-reliance on Argentine growth and weakening US and Canadian core businesses, led to a 43% drop in market value and a significant revision of its full-year outlook, highlighting challenges in its overseas expansion and competitive pressures.
The article discusses the challenges of measuring risk amid the rapid growth of AI financing, highlighting the importance of understanding and managing potential financial risks in this emerging sector.
Intercontinental Exchange (ICE) announced a strategic investment of up to $2 billion in Polymarket, a prediction market platform, valuing it at approximately $8 billion pre-investment. ICE will also distribute Polymarket’s data globally to institutional investors and collaborate on future tokenization initiatives, aiming to integrate prediction markets into mainstream finance.
FICO has launched a new program allowing resellers to directly distribute FICO scores, bypassing traditional credit bureaus, which is expected to cut costs by about 50% and impact the stock prices of credit bureaus and related financial companies.
The article reports that Swift is planning to launch a blockchain platform in response to the increasing popularity of stablecoins, aiming to modernize its payment infrastructure and stay relevant in the evolving financial landscape.
The article discusses how artificial intelligence has the potential to challenge traditional Silicon Valley financiers by transforming financial services and investment strategies, highlighting the growing influence of AI in the finance industry.
Revolut, a UK-based fintech company with 65 million customers, is exploring acquiring a US bank or obtaining a banking license to expand its presence in the US and globally, while planning a $13 billion investment over five years to grow its international footprint and launch new credit products in the UK.
The London Stock Exchange successfully implemented blockchain technology for the first time, marking a significant step in financial innovation.
Sterling Stock Picker, an AI-powered stock education tool with real-time insights and personalized portfolio building, is available for a lifetime subscription at a discounted price of $55.19, down from $486, helping both beginners and experienced investors make smarter decisions.
The Federal Reserve Board announced a conference on October 21 to discuss innovations in payments, including stablecoins, AI, and tokenization, aiming to improve the safety and efficiency of the payments system.