Standard Chartered and MUFG Innovation Partners led a round of investment that yielded $165 million in new capital for Symphony Communication Services, which will help the vendor take its open source messaging and collaboration system to the next level, officials say. Symphony officials say that they will use the capital influx “to evolve its new… Read More >>
SEC Alleges Firm Had a Crypto-Pyramid Scheme
The SEC has filed a civil injunctive action against the alleged perpetrator of a multimillion-dollar pyramid scheme. The SEC claims that, from January 2017 through March 2018, San Clemente, Calif., resident Daniel Pacheco enticed would-be cryptocurrency investors by selling so-called instructional packages that provided e-commerce “lessons,” raising more than $26 million in the process. In… Read More >>
Your AI Team Should Be Cross Functional: Q&A
(Artificial intelligence (AI) and machine learning (ML) technologies are poised to cause major overhauls in the financial services industry. Securities operations teams across the globe are laying the groundwork to embrace this inevitable disruption. To provide our readers with insight on how to take the first steps, FTF News reached out to Rashed Haq, the… Read More >>
WFE Advocates for Standards to Govern FinTech
The World Federation of Exchanges (WFE) is urging global authorities to draft new “rules, standards and guidelines” to govern fintech providers serving the securities industry, to facilitate “resilient, stable and robust” markets with level playing fields. The paper from the WFE, which represents including exchanges and CCPs, covers seven key areas and argues for corresponding… 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 >>
Morningstar Fills Chief Innovation Officer Post
Morningstar, a provider of investment research, has named Matt Fellowes chief innovation officer, officials say. Fellowes, 40, also will continue to lead HelloWallet, a provider of personalized financial guidance that Morningstar acquired last year, officials say. Before founding HelloWallet in 2009, Fellowes was a fellow at the Brookings Institution, a nonprofit research and policy organization…. Read More >>
Let the Race for Ops Excellence Begin
Keep an eye out for the nominees of the FTF News Technology Innovation Awards for 2015. We will be announcing them shortly and will be officially launching the voting process. Without giving anything away, I have to say this year will be highly representative of the variety of offerings and achievements from established players among… Read More >>
