€18 billion invested in software by European banks in 2016
The European Banking Federation (EFB) has released survey stats that show that European banks last year invested more than €18 billion in software.
Banking
R3 and banks partner to develop cross-border payments platform
Enterprise software firm R3 and 22 of its member banks have developed a solution that leverages distributed ledger technology (DLT) to enable “fast, efficient and cost-effective” cross-border payments.
Avoid a bank branch nightmare this Halloween
Trick or treat! It’s Halloween and brands everywhere are using spooky season as a way to have some fun with customers. However, any ghoulish behaviour belongs firmly in the land of fun, and should not creep into everyday customer interactions
SIBOS Interview: Torstone Technology – how securities firms are facing the regulatory challenges
Brian Collings, CEO of Torstone Technology explains how securities firms are harnessing technology to meet the regulatory challenges they face.
Banking Technology Awards 2017 shortlist unveiled
We are happy to announce the 2017 Banking Technology Awards shortlisted candidates!
CYBG brings next working day cheque depositing to mobile banking
Clydesdale and Yorkshire Banks (CYBG), through its digital banking service B, is launching new technology in November 2017 to enable customers to pay in cheques using its mobile banking app, B.
NDC to upgrade core banking tech at Farmers Commercial Bank
Farmers Commercial Bank (FCB) in Sudan is upgrading its core banking system, Temenos’ T24. The bank enlisted National Data Consultants (NDC), a Pakistan-based implementation partner of Temenos, to help with the project.
Autosoft Dynamics gains first core banking system deal in Afghanistan
National Bank of Pakistan (NBP) has picked a core banking system and vendor for its operations in Afghanistan – Autosoft Dynamics and its flagship Autobanker offering.
Crime thriller: Trading Down, by Stephen Norman – part 2
Here’s a second extract from Trading Down, by Stephen Norman, which continues the drama in the Hamilton Datacentre.
ING unveils new branch concept that “feels like home”
ING Belgium has opened doors to its first “client house” branch, which the bank describes as “a place where retail, business and private banking customers can walk in and enjoy a good coffee and receive personal service”.
Yoma Bank live with new treasury tech from Finastra
Myanmar-based Yoma Bank has implemented a new treasury and capital management (TCM) system, Fusioncapital Opics, supplied by Finastra (formerly Misys).
Case study: Hellenic Bank – building a bank through strategic partnerships
Natasha Kyprianides, group head of digital banking and innovation at Hellenic Bank, gives the lowdown on how to apply the partnership strategy in practice and achieve real results.
Nubank reaches out to Brazil’s underbanked with digital banking accounts
Brazilian fintech Nubank will soon be offering digital banking accounts in addition to its credit card business. The move will provide access to billpay, account-to-account transfers, and the ability to earn more in interest than is available with a regular savings account.
Regions Bank completes wealthtech modernisation project with SEI
US-based Regions Bank has gone live with the SEI Wealth Platform, following an 18-month transition of its private wealth, asset management and institutional services businesses to the new platform.
Fintech funding round-up: 27 October 2017
Just when you thought there couldn’t be more; the latest stories from the fintech funding world returns for another round. Features Constellation, Credit Sesame and Jirnexu.
Credit union consortium CULedger opts for Swirlds to build blockchain platform
CULedger, a US-based credit union consortium formed by the Credit Union National Association (CUNA) and the Mountain West Credit Union Association (MWCUA), has selected Swirlds’ hashgraph technology as a key component of its permissioned, distributed, shared ledger platform for credit unions.
Edmond de Rothschild live with new core banking system, Avaloq Banking Suite
Banque Privée Edmond de Rothschild (EDR) has gone live with a new core banking platform for its Swiss operations, Avaloq Banking Suite, supplied by Avaloq.
JP Morgan Chase launches mobile app Finn for millennials
JP Morgan Chase has launched its new mobile banking app, Finn. Designed for millennials, Finn will allow customers to open a bank account, make deposits, track spending and set up a saving plan.
Compass Plus builds new mobile banking app for Lipetskcombank
Lipetskcombank (LKB), one of Russia’s largest regional banks, has launched its new LKB Online mobile app, underpinned by the Tranzware Mobile Banking system from paytech specialist Compass Plus.
Map: fintech landscape
A very detailed map of the current fintech landscape, produced by VentureBeat, listing hundreds of companies in the banking, payments, investments, financing, insurance, infrastructure and enabling technologies verticals.
Banking on digital natives: Why banks must innovate
Banks need to innovate to stay competitive, here’s how.
Top fintech stories this week – 27 October 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Understanding consumer intent is the path to customer loyalty
Building loyalty means delivering convenience. But this means more than just delivering more sophisticated digital services. It means delivering a superior customer experience in every way the consumer interacts with your business.
SIBOS Interview: SmartStream – the future of banking
Rocky Martinez, CTO and Haytham Kaddoura, CEO at SmartStream talk about the future of banking and how fintechs can help clients grow their business.
ING launches €300m fintech fund, ING Ventures
ING Ventures, a new investment fund set up by ING, has €300 million to pump into fintech companies.
The changing face of financial crime compliance
Paul Taylor of Swift’s Financial Crime Compliance Services Division discusses the evolving compliance landscape and the critical role of technology in helping the industry come together as a whole to combat financial crime.
Fintech funding round-up: 25 October 2017
More of the latest stories from the fintech funding world. Features Verrency, Countingup, Finn.ai and Bud.
Zain Bank signs for Path Solutons’ iMAL core banking system
Zain Iraq Islamic Bank for Investment and Finance, a start-up retail bank in Iraq, has opted for the iMAL core banking system from Path Solutions.
Hellenic Bank in paytech overhaul with Fiserv
Cyprus-based Hellenic Bank is modernising its payments platform with paytech specialist Dovetail (now part of Fiserv). The new solution will support Swift, Target2 and SEPA credit transfers at Hellenic Bank.
SIBOS Interview: Deutsche Bank – impact of regulations
Christian Westerhaus, Global Head of Clearing Products, Cash Management, Deutsche Bank, talks about the impact of regulations on the correspondent banking business.
First Data partners with UnionPay to enable in-store and online transactions in the US
International paytech firm First Data has partnered with UnionPay International to enable in-store and online transactions in the US allowing UnionPay card holders to shop at US retailers.
E-book: How Digital Lenders Can Win the Fight Against Fraud
Ready for the truth about fighting fraud? It’s not as futile as you might think. Yes, fraud is hitting digital lenders of all sizes… Pretty sizably. But recent research shows that with the right approach, it is possible to stop the bad guys and stem the losses—without slowing opportunity. Secrets of Success: How Digital Lenders […]
Westpac NZ in paytech modernisation with ACI Worldwide
Westpac New Zealand has completed “a wide-ranging banking technology transformation” with ACI Worldwide, according to the vendor.
Tink secures investment and bank partners as it plans European expansion
Swedish fintech company Tink has signed with Nordic banks Nordea, Klarna and Nordnet. Integrating in 2018, the banks will use Tink’s payment technology and personal finance management (PFM) platform within their existing customer channels.
Avaloq signs core banking tech deal with Bank of Asia
Bank of Asia, a start-up digital bank in the British Virgin Islands focused on companies that have ties to Asia, has signed for the Avaloq Banking Suite core platform.
Clinc teams with Enacomm to bring AI chatbots to small banks and credit unions
Artificial intelligence (AI) fintech start-up Clinc is making its chatbot Finie more widely available through a new partnership with Enacomm.
BioCatch to power behavioural biometrics for Samsung SDS America
Behavioural biometrics and threat detection firm BioCatch is working with Samsung SDS America to combat fraud that occurs after a user has logged in.
Fintech start-up Ualá targets Argentina’s unbanked with new mobile banking service
Argentina-based fintech start-up Ualá has launched a mobile banking service app to champion financial inclusion in the country.
“World’s first” full-featured virtual banking assistant on Facebook Messenger launched by ATB Financial
Canada’s ATB Financial says it has launched “the world’s first full-featured virtual banking assistant on Facebook Messenger” to the bank’s nearly 700,000 personal banking customers.
IBM and Zelle team up to advance P2P payments
IBM says it has launched an “industry first” solution to support the full lifecycle of peer-to-peer (P2P) transactions, from the back office of financial institutions to the mobile device.
