How financial institutions can capitalise on open banking benefits
The median open banking spending lies between €50-€100 million according to Tink.
Banking
Report: A new decade of core banking transformation
A new FinTech Futures report examining the role of core banking in the industry today.
Deutsche Bank faces $150m fine for Jeffrey Epstein ties
“The bank’s failure to recognise this risk constitutes a major compliance failure.”
Barclaycard and SAP extend partnership to combine Commerce Cloud and Smartpay
This is the second integration of systems between the pair.
JP Morgan drops “master” and “slave” from internal tech code and materials
Some Black tech developers have criticised this move as “performative activism”.
Sèvis Finansye Fonkoze upgrades core systems with Temenos and SG NewTech
The Haitian microfinance firm is upgrading its Temenos IBS system.
HSBC glitch sends coronavirus bounce back loans in error
UK bank has processed £4.5bn in loans so far in 2020.
Belgian cooperative NewB picks Wolters Kluwer’s OneSumX
The new Belgian bank wants OneSumX to manage its ALM ops.
Square’s $55bn valuation reaches skies of major US banks
Square is $20 billion away from matching Goldman Sachs’ market valuation.
The pretence of invincibility
Everything we do in business is in pursuit of relevance.
Commerzbank plans 10,000 job cuts as CEO and chairman step down
Shareholder pressure saw Martin Zielke and Stefan Schmittmann depart earlier this week.
German business banking start-up Penta tops up Series B by €4m
The financing round adds to the fintech’s Series B in March.
Mastercard invests in long-term fintech partner Verestro
The fintech has worked with Mastercard since 2011.
LIBOR transition: everything you need to know
How NIIT Technologies is supporting businesses grappling with LIBOR transition.
Liechtenstein’s VP Bank bags fintech CEO for client solutions unit
Thomas von Hohenhau is the Swiss CEO of Hamburg-based fintech Deposit Solutions.
Virgin Money restarts planned job cuts and branch closures
The UK bank’s plans had been put on hold by COVID-19.
Deutsche Bank signs Google Cloud strategic partnership
Deutsche picks Google after five-month negotiation period.
UK challenger Monument to tap Britain’s mass affluent
The fintech has raised £10 million to date.
The Peoples Community Bank picks Finastra for new core system
Fusion Phoenix deployed at Wisconsin-based bank.
Starling Bank launches two new paid business accounts
The roll-out includes its second multi-currency account.
White paper: Three key trends driving financial services IT transformation
How financial institutions can become more customer-centric, leverage hybrid IT infrastructure, and avoid vendor lock-in.
National Bank of Pakistan modernises pool management
The upgrade “promises to set an industry standard for Islamic banking in the country”.
South Korea reports 20m subscriptions to open banking service
Figure represents a quadrupling of registrations since an October 2019 pilot.
Lloyds CEO António Horta-Osório to step down in 2021
“Mixed emotions” for Horta-Osório as Lloyds announces new chairman.
Commerzbank fined €650k by Cypriot regulator
German bank sanctioned in relation to dealings with now-defunct Laika
Overcoming challenges on the road to open banking success
FinTech Futures speaks to Rajashekara V. Maiya at Infosys Finacle about open banking.
How open is open banking?
If open banking was to deliver on its promise, the opportunity for growth would be enormous.
Introducing CRUX Digital Days – getting the crux of the tech matter
What’s shaping the financial services technology industry of today and what awaits it tomorrow?
Monzo’s co-founder Tom Blomfield leaves its board
According to a Companies House filing, his termination occurred on 17 June 2020.
Starling Bank applies for £35m grant from BCR
The UK challenger bank was awarded £100m last year.
ChannelMeter raises $4m for content creator banking service
The start-up is launching its new service ‘Creator Cash’ this month.
PBI lands €45m & acquires salary-backed loans business
The fintech was founded by ex-UniCredit execs.
Regional Australia Bank approves first Aussie open banking loan
The process took six minutes end-to-end, claims bank.
Pakistani fintech SadaPay lands CTO from Indonesian unicorn Gojek
Gojek is Indonesia’s most valuable start-up.
Monte dei Paschi explores merger plan with Banco BPM
World’s oldest bank looking to bulk up its resources.
Major banks take another step towards ‘truly European’ payment system
Some 16 of Europe’s major banks are set to initiate the implementation.
Infrastructure that gives you an edge: payments-as-a-service
The only technology model for future payments ecosystems.
Video: Top fintech stories this week – 03 July 2020
FinTech Futures’ weekly news round-up.
How 5G will revolutionise consumer banking
When 5G is part of our nationwide infrastructure, it will transform products and services.
Vietnamese digital bank TNEX to create consumer-merchant ecosystem
“We’ve started a bit of a fintech revolution here,” says MSB’s CDO.
