Figures released by Tech Nation and Dealroom for the Digital Economy Council show that investors continue to back the UK’s FinTech industry.
From January to the end of May, UK tech companies raised $5.3bn, compared to a total raised in the rest of Europe of $4.1bn. Of that, London-based companies raised $4bn, more than Paris, Stockholm, Berlin and Tel Aviv combined.
FinTech continues to dominate fundraising in the London, accounting for 39% of 2020 fundraisings.
big xyt, the independent provider of market data analytics, has been selected by Societe Generale Luxembourg to provide trading execution analytics to its clients.
big xyt's TCA platform provides SocGen Luxembourg with smart data analytics, which help clients to reduce transaction costs. Leveraging big xyt's consolidated view of the marketplace allows SocGen Luxembourg to measure and benchmark executions.
Cloud9 Technologies, the cloud-based voice communication and analytics platform provider, has completed a $17.5 million Series B funding round. Led by a strategic investment from UBS, participation included existing investors J.P. Morgan and Barclays.
As demand for flexible office and remote working tools increases due to COVID-19, Cloud9 has seen new business increase by over 50% since March, as it onboarded several of the world’s top global banks and investment management firms. The growing client demand reflects an increasing need for access to a virtual trading floor.
DTCC is dipping its toes into future technology waters to keep ahead of new opportunities. Two projects have been named and launched to cover clearing and settlment in one, and private securities in another.
Project Ion (Clearing and Settlement)
This project aims to explore the possibility of a radical new settlement approach to reduce cost, risk and time. A Proof of Concept platform has been built which is being evaluated by the industry.
Digitization has reached the monetary system. The advent of crypto assets, such as Bitcoin and Ether, revealed numerous advantages these digital assets based on distributed ledger technologies (DLTs) can bring: Using DLT can enhance the security of sensitive financial transaction data, increase transaction speed through faster processing and settlement and automate numerous business processes through smart contracts. These advantages ought to be realized in the conventional monetary system as well — not only in the “crypto industry”.
Independent trading analysis and data science company, Ideal Prediction, has appointed Walter Bell as its Chief Technology Officer. An industry leading quantitative analyst and technologist, Walter has more than 20 years of experience in capital markets, working in a variety of roles across multiple asset classes.
Could you imagine how this pandemic would have affected us had it happened prior to the age of mobile computing, or before we all had cameras on our home computers and laptops, or were even able to send text messages? Today's technology is able to connect family, friends and co-workers using video, audio, and via collaboration tools like Teams, Slack Dropbox, etc., and keep us connected in our personal and business lives.
Financial technology leader FIS™ announced today that FIS Ventures, the newly created corporate venture investment division of FIS, has launched an effort to invest a target of $150 million in promising fintech startups over the next three years.
Delta Capita, the international business & technology consulting and managed services firm, today announces that it will collaborate with UnaVista, London Stock Exchange Group’s regulatory reporting platform, to help firms meet the requirements of SFTR. Through the collaboration UnaVista customers will be able to access Delta Capita’s SFTR data test pack.