Fintech, Finance, Technology, Banking Highlights – 22 November 2017
BBVA to deploy Samsung iris scanning for mobile log-in
Samsung and BBVA today presented the iris scanning feature, which will allow BBVA customers with Samsung-compatible smartphones to log on to the bank’s Spanish mobile banking app just by looking at their displays.
With the launch of this feature, BBVA becomes the first Spanish bank to deploy Samsung’s advanced biometric authentication technology, Samsung Pass, which will permit customers to bypass cumbersome login/password authentication methods. Iris recognition is currently considered to be the most secure form of identity verification.
The power of biometrics as a driver of the payments industry
Raúl Navarrete, BBVA Spain’s Head of Mobile Channels, said: “BBVA’s goal is to deliver a fast and user-friendly browsing experience. Iris recognition not only provides agile and seamless access to the platform, but also offers an unparalleled level of cybersecurity.”
R3 on Azure: Strengthening our partnership
R3 and Microsoft Corp. have expanded their strategic partnership to further accelerate adoption of R3’s Corda platform amongst businesses using Microsoft Azure.
Having worked together since April 2016, the partnership will now offer deeper integration of the Corda platform with Azure making it easier for businesses to deploy underlying computing resources for blockchain networks. The expansion reaffirms Azure as R3’s preferred cloud provider.
R3 and Microsoft also aim to offer effortless deployment of Corda and Corda networks on Azure. This new functionality will enable businesses to quickly and easily set up Corda nodes and networks, reducing time and cost of deployment which are major considerations when adopting distributed ledger-based platforms. With the deeper integration, businesses can also leverage Corda’s advanced integration capabilities to enable seamless integration of Azure services with Corda, including SQL Database and in the future other services such as Azure Active Directory, Key Vault, and Express Route. This will enable developers to design and build apps on Corda, known as CorDapps, using familiar tools.
Lombard Risk Management joins FCA TechSprint
Lombard Risk Management plc (LSE: LRM), the global dedicated provider of integrated regulatory reporting and collateral management solutions, is pleased to announce that commencing today it is participating in the Financial Conduct Authority (FCA) and Bank of England (BoE) two week TechSprint to explore the potential for model-driven machine readable regulation.
The TechSprint is the first stage of a programme of work designed to bring start-ups, regulated firms, technology providers and academics together to discuss and design technological solutions to this challenge.
Lombard Risk, together with the FCA and BoE are exploring how technology can be used to link regulation, firms’ policies and standards together with financial institutions’ transactional databases.
This would open up the possibility of a model-driven and machine readable regulatory environment that could transform and change the speed with which the financial services industry understands, interprets and then reports regulatory information.
New challenger Arro Money opens doors on Series A financing
Arro Money, a fast-growing provider of personal and business accounts, has opened a Series A Financing round to investors.
The business aims to reach its initial target by the end of December, with the money to be invested in further developing the Arro Money product, which uniquely targets new to country individuals and entrepreneurs.
Arro Money offers straightforward money management for both personal and business accounts. The proprietary technology improves the way consumers and businesses access financial products by eliminating excessive credit checks and reducing the lengthy set-up times that are all too common at traditional banking institutions, helping to improve accessibility and financial inclusion.
The business is already operating with an active user base that is growing month-on-month, as the organisation continues to exceed its customer acquisition targets. To date, Arro Money has been totally self-funding and is 100 per cent debt free.
