Innovate Finance, the independent membership organisation representing UK’s global FinTech sector, is returning to Davos this week with a delegation of members to discuss this year’s theme of Responsive Leadership
The state-backed lender, which is part of Royal Bank of Scotland, is joining forces with Iwoca, which offers working capital to small businesses, and Together, a property-secured lender, as a way to refer business and commercial customers that do not meet NatWest’s appetite for risk.
"Financial institutions have reported to have taken weeks to onboard new clients and expect it go up in the future," Celent analysts Arin Ray and Neil Katkov wrote in a recent report. "Some are concerned that a prolonged and cumbersome onboarding process could become a competitive disadvantage."
UK cyber security company Darktrace has turned to Silicon Valley in a bid to secure funding which would see the company valued at $400m (£283.2m)
The company, which is headquartered in both Cambridge, UK, and San Francisco, USA, was founded in 2013 by mathematics and computer specialists from the University of Cambridge and intelligence experts from MI5 and GCHQ.
It could have taken months for the systems administrators at a large bank in Rome to figure out that one of their servers was talking to Facebook, a red flag given that networks in banks don't need to know how many "likes" they've received. And they might not have noticed the streams of data the server then sent to an array of unknown computers. This kind of threat—coming from inside the network, not from outside its firewall—is difficult to detect.
At the dawn of a new era where machines fight machines and sophisticated attackers are mobilized, Darktrace is the first company in the world to arm the defenders with proven machine learning and mathematics that work without any prior knowledge of attacks, rules or signatures. With Antigena, Darktrace now spots and inoculates against unknown threats, as they germinate within organizations in real time.
In 2015, we continued mainly with our established B2B themes: business intelligence SAAS, cyber security and fintech. From 2016, we are adding B2B insurance tech and health tech focuses. Here are the ones we are excited about for 2016.
Talis Capital is pleased to announce that digital portfolio company, FuelQuest Inc., market leading SaaS provider of on-demand fuel management and tax automation software for the downstream energy industry, has completed the sale of its subsidiary business Zytax to Avalara Inc.