FinTech Futures: Top five news stories of the week – 23 February 2024
Our pick of the top fintech news stories this week includes Capital One, Toast, Xalts and more.
Banking
Africa and Gulf Bank partners Orion Innovation for Temenos core banking upgrade
The bank has opted to leverage Temenos Transact and Temenos Infinity for its digital upgrade.
Lithuania: A David slaying Goliath in the fintech arena
Lithuania is making its presence known in Europe’s burgeoning fintech scene.
Abu Dhabi Islamic Bank digitises cross-border services with ProgressSoft
The UAE-based bank has integrated the vendor’s PS-PayHub platform.
Case study: Italy’s Credem Banca migrates to ASEE Security Cloud
Learn how Italy’s major banking group Credem migrated all its clients to the ASEE Security Cloud.
Commerce Bank taps Temenos for loan origination solution
Commerce claims Temenos will enable a “five minutes or less” end-to-end loan origination process.
Help that helps
Asking for help is a superpower. It’s brave to ask for help. And it’s a braver thing still to accept it.
Demystify Podcast: Modelling climate change risk with Lukky Ahmed of Climate X
In this latest podcast episode, Dharmesh and Dave talk with Lukky Ahmed, co-founder and CEO of Climate X.
Capital One acquires Discover Financial Services in $35bn deal
The transaction brings together two of the largest card issuers in the US.
Germany’s BaFin warns Deutsche Bank of potential fines if it doesn’t improve money laundering controls
BaFin has extended its monitoring of Deutsche Bank until 30 October 2024.
AI wars: a new hope or the phantom menace?
A deep dive into the practical uses of AI through the lens of the FCA’s Consumer Duty.
Mexican neobank Hey Banco’s split from Banregio due for 2025
The move, announced in 2020, was expedited by Hey Banco’s banking licence authorisation last July.
Canada’s EQ Bank taps Trulioo for ID verification solution
EQ Bank to leverage Trulioo’s “customised onboarding experiences” to stay ahead of industry practices.
Luzerner Kantonalbank selects Finmechanics tech for markets business overhaul
The Swiss bank is to replace its legacy system for position and risk management with FM Converge.
Awards win for SmartStream: leading innovation in reconciliation (and more)
Combining the heritage of delivering trusted reconciliation solutions with being genuinely agile.
How the EU AI Act could transform financial services
Regulators are attempting to deliver first-of-its-kind regulation to bring AI into a more desirable scope.
ICYMI fintech funding round-up: Fordefi, Mia Share, Kema, Coba and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FinTech Futures: Top five news stories of the week – 16 February 2024
Our pick of the top fintech news stories this week includes Monese, Virgin Money, Bank of America and more.
Sopra Banking Software names ex-Fiserv exec Andrew Steadman as new CPO
The new CPO will head the French fintech’s SaaS product and innovation strategy.
India’s Bandhan Bank goes live with Oracle’s Flexcube core banking tech
The bank has also implemented Oracle’s Banking Digital Experience and Oracle Payments solutions, among others.
It’s boring to say, but boredom is important
Studies suggest that boredom can serve as a catalyst for creativity under the right conditions.
UK lender Bevan Money announces new CEO to guide final regulatory authorisation stages
Bevan applied for a banking licence last May, with plans to provide mortgages for public sector workers.
PNC Bank to invest nearly $1bn to renovate and expand its US branch network
PNC plans to renovate more than 1,200 existing locations and open more than 100 new branches by 2028.
The future is not digital… the present is
We have work to do, and however we choose to do it, let’s at least stop acting surprised at it all.
Swedish VC firm Kinnevik writes off Monese investment in full
The investor has owned 21% of Monese since leading its $60 million Series B round back in 2018.
Digital business bank Grasshopper partners Greenlite for AI-powered due diligence tech
Greenlite’s tech will enable the bank to streamline manual data aggregation and client risk assessments.
Wealthify taps embedded banking platform ClearBank to power its new savings account
Wealthify’s new instant savings account will offer an interest rate of 4.91% AER / 4.80% gross.
Duncan Cockburn steps down as OneBanx CEO to join insurtech unicorn Zego
Cockburn says he has decided to “step back from the role and embark on a new challenge”.
US-based Primary Bank appoints Crystal Dionne as new CEO
Dionne first joined the bank eight years ago and has spent the last six years as its CFO.
Bank of America customers impacted by data breach through Infosys McCamish Systems hack
It’s thought that 57,028 of Bank of America’s customers have been impacted.
Spain’s Banco Sabadell selects NCR Atleos as ATM network partner
Banco Sabadell customers will now have access to the 1,400 ATMs NCR Atleos manages across Spain.
HSBC is on an AI hiring spree with call for three new executives
The job openings are within HSBC’s digital business services unit and ventures, innovation and partnerships team.
Deadline extended for Banking Tech Awards USA nominations
You now have until Friday 23 February to get your nominations in.
Desjardins to reduce total number of ATMs and service centres by 30% by 2026
The group’s ATMs and service centres accounted for 3% and 1% of its total transaction volume last year, respectively.
National Australia Bank appoints Andrew Irvine as new group CEO
Irvine will take over the reins from current CEO Ross McEwan, who is set to retire in April.
RF Group taps core vendor ERI to power its Caribbean banking operations
The Bahamas-based firm will adopt ERI’s Olympic Banking System as its new core banking platform.
Alba Bank CEO Rod Ashley steps down after six years at the helm
Alba has named former Bank North co-founder and CEO Jonathan Thompson as its new acting CEO.
FinTech Futures: Top five news stories of the week – 9 February 2024
Our pick of the top fintech news stories this week includes Worldline, Deutsche Bank, Barclays and more.
It’s time for core banking to get real
There are huge opportunities for real-time banking to hyper-personalise banking.
New private bank Volans gears up for launch in Australia
Volans aims to become Australia’s number one private bank before taking the brand global.
