ICYMI fintech funding round-up: Statement, iink, Finzly and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Banking
FinTech Futures: Top five stories of the week – 20 October 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
ECB’s digital euro project to enter preparation phase from next month
The announcement follows the completion of the digital euro’s “investigation phase”, which began in 2021.
Is this the end of banks as we know them?
Let’s be realistic. “Digital” banking alone is not going to kill off “legacy” or incumbent banks anytime soon.
Video: Chainlink at Sibos 2023 – The future of on-chain finance and tokenisation
We chat with Sergey Nazarov of Chainlink about how the firm is solving the blockchain interoperability problem.
US regional bank United Community partners Allied Payment Network for real-time payments
The South Carolina-based bank is to integrate Allied’s RTP solutions into its Q2 digital banking platform.
Vietnam’s LPBank selects Temenos for core banking upgrade
Temenos has been gaining a foothold in Vietnam, with 24 other Vietnamese banks now running on the firm’s platform.
Indian fintech Aurionpro acquires loan management system Omnifin for $9.8m
Aurionpro says the deal “significantly accelerates” its ambitions to take its lending solutions into new markets.
Living within your means
For people in the money business, we are not very good at talking about money.
National Bank of Greece deploys Infosys Finacle core banking system
The deployment forms part of the bank’s core banking replacement project ‘Cosmos’.
Bud Financial bolsters leadership team with two new senior hires
Rachel Fairhurst joins as VP of credit risk and client success and Jakub Piotrowski as VP of product.
ID verification specialist Prove Identity bags $40m to fuel global expansion
The company currently counts more than 1,000 businesses as clients, including nine of the top ten banks in the USA.
Video: ComplyAdvantage at Sibos 2023 – Financial crime risk management
We chat with Andrew Davies of ComplyAdvantage about what’s shaping the financial crime landscape in banking.
Australia’s Bendigo and Adelaide Bank migrates digital banking system to Google Cloud
The bank intends to migrate at least half of its business operations to the cloud by 2024.
Ally Financial CEO Jeffrey Brown to step down
Brown is due to depart the Michigan-based online bank on 31 January 2024.
Noble Credit Union taps Fiserv for DNA core banking system
Fiserv says the credit union chose its DNA core banking system due to its “modern technology and open APIs”.
Finland’s Aktia Bank goes live with Temenos Payments Hub
The bank first began working with Temenos six years ago, when it adopted its T24 core banking system.
What the FinTech? | S.4 Episode 17 | Open banking innovation
In this episode of the podcast, we’re joined by Arthur Ribakovs, Director of Financial Partnerships at Ecommpay.
Yemen’s Tadhamon Bank upgrades to latest version of Azentio’s iMAL core banking platform
The bank has been running on iMAL since 2010.
Japan’s 77 Bank taps Fujitsu to launch in-store banking tablets
The in-store tablets are backed by Fujitsu’s customer engagement solution Chordship.
Can banks connect the dots in their pursuit of sustainability?
As ESG transitions towards a matter of law and compliance, a lack of focus could have very serious consequences.
Video: Genpact at FinovateFall 2023 – Generative AI across the banking value chain
We chat with Anu Sachdeva of Genpact about the key use cases and benefits of generative AI in banking.
Puerto Rico’s Arival Bank names Nishi Gupta as chief compliance officer and general counsel
Gupta joins Arival Bank from US-based consumer fintech company Eco, where he served as head of compliance.
FinTech Futures: Top five stories of the week – 13 October 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
GreenSky sold to Sixth Street-led investor consortium, Goldman Sachs confirms
The consortium consists of funds and accounts managed by KKR, Bayview Asset Management and CardWorks.
Breaking Moloch: the game theory monster in AI, economics and beyond
Can banks stop their self-destructive tendencies and escape the race to the bottom?
CFPB issues guidance to stop big banks from charging “illegal junk fees”
The CFPB has made it clear to banks that people are entitled to get basic information without having to pay junk fees.
UK’s FCA certifies paytech Viva Group as e-money institution
The company describes the licencing as “a significant step forward” for its position in the UK neobanking market.
Financial safety start-up Carefull secures $16.5m in Series A funding
Carefull’s tech helps banks and wealth advisors protect senior customers from financial fraud.
Video: Infosys Finacle at Sibos 2023 – Recomposing banking and the importance of ethical AI
We chat with Infosys Finacle CEO Sanat Rao about the need for banks to continuously evolve to remain competitive.
Video: Genesys at FinovateFall 2023 – Modernising the customer experience in banking
At FinovateFall 2023, we spoke with David Porter of Genesys about how banks can enhance their customer experience.
Scottish challenger Alba Bank to migrate to Mambu’s core banking platform
Alba Bank says the migration will enable it to build products at speed to meet evolving market demands.
Not paid enough for this
Don’t burn yourself out with work. This is a marathon, not a sprint. Don’t forget to look after yourself.
India’s IDBI Bank names Nehal Shah as new deputy chief technology officer
Shah will be responsible for the bank’s IT security and digital channels across various functions.
US-based Honor Bank goes live on nCino’s commercial banking platform
nCino says that Honor Bank was able to implement its solution and go live in “just six months”.
Video: DTCC at Sibos 2023 – Cybersecurity and the evolving threat landscape
We speak with Jason Harrell of DTCC about the emerging cyber threats financial institutions should be prepared for.
Four new clients set to go live on Mbanq’s BaaS platform in Q4 as company reports strong growth
Mbanq says it will support the launch of four new digital banking services in the US by the end of the year.
Spice Money taps NSDL Payments Bank to offer zero balance accounts to rural India
Through this partnership, Spice Money aims to broaden financial inclusion across India.
Banking Tech Awards USA 2024 nominations are now open!
Nominations for the Banking Tech Awards USA 2024 are open until 9 February.
HSBC acquires Citi’s $3.6bn consumer wealth portfolio in China
The deal is expected to close in H1 2024, with HSBC planning to extend offers to “in-scope employees” in China.
