Google is banking on mobile apps to boost its mobile wallet. The Android Pay parent has linked that service to a handful of banking apps, giving consumers the ability add their cards more quickly to the mobile wallet.
State Bank of India (SBI) has centralised its trade finance operations across 25 countries on Misys’ Fusionbanking Trade Innovation platform. Misys’ partner in India, Encore Theme Technologies, assisted with the implementation.
Two small banks in the US state of Ohio, Southern Hills Community Bank and Ripley Federal Savings Bank, are to merge. The consolidated entity (with the assets of $150 million) will outsource its core processing operations to Connecticut Online Computer Centre (COCC).
You need to tell your customers you’ve been hacked. Now what?
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Mastercard gets approval to buy VocaLink for $920m Deal expected to close in coming weeks. Bank of England implicated in Libor rigging by secret recording Well, it was secret. FIS sheds Ambit Private Banking business FIS inherited it […]
Al-Ahli Bank of Kuwait (ABK) has gone live with a new core banking system at its two branches in the UAE. The new platform is Finacle, supplied by Infosys’ product subsidiary EdgeVerve.
The cybersecurity wars of the future will be fought by good artificial intelligence (AI) bots and bad ones, with the rest of us just watching to see who wins.
UK challenger bank Starling has teamed up with Moneybox to give its customers access to a suite of saving and investing tools. Starling says it is the first digital challenger to join the list of banks supported by the Moneybox app for its “round ups” feature. The service will be available to Starling customers at […]
There is no smoke without fire. The “big smoke”, as London is colloquially known, has been creating a fire of innovation in the financial technology space for years, but there are other UK fintech centres in the Southwest; Cardiff; Manchester/Leeds; and Edinburgh/Glasgow that create their own heat.
Coca-Cola Credit Union in the US state of Georgia is modernising its online and mobile banking with Bankjoy, and its back office tech with Corelation.
First Data has been appointed by Sabis, the IT arm of Spanish banking group Sabadell, to provide processing and acquiring services across its subsidiary TSB. First Data will migrate TSB’s credit and debit card portfolio onto its FirstVision platform. Additionally, First Data will power TSB’s digital payments and provide merchant acquiring services for money and […]
Reserve Bank of Australia (RBA), the country’s central bank, has made a decision to overhaul its core banking technology with TCS Financial Solutions’ Bancs system.
Following the announcement WhatsApp will enter into the mobile payments arena, new estimates from Juniper Research claims Apple Pay contactless users will nearly double over 2017.
FIS has sold its Swiss core banking software business, Ambit Private Banking, which it inherited with the acquisition of Sungard, to New Access Banking Software.
Addressing the views of the Department of Treasury, the CFPB, and the SEC on the regulation of the fintech industry in the US.
Standard Chartered has given a big boost to two Asian start-ups with two proof of concept (PoC) projects. Bambu, a Singapore-based robo-advisory for wealth management firm, and KYC Chain, a Hong Kong-based digital identity management firm using distributed ledger technology, were selected from SuperCharger FinTech Accelerator 2.0 – a 12-week accelerator programme in Hong Kong […]
Two federal credit unions in the US, People First in Pennsylvania and Greater Alliance in New Jersey, have converted to new core processing software. Both are now live on the Keystone platform supplied by domestic vendor Corelation.
White-label digital banking services provider Urban FT is joining forces with Sunrise Banks.
Fintech entrepreneurs still have a few weeks left to win financial backing from two big players in the payment space. The Center for Financial Services Innovation (CFSI) and JPMorgan Chase’s Financial Solutions Lab (FinLab) plan to award $250,000 to programs that help consumers build financial health, “with a special focus on those communities that are frequently underserved, such as older Americans, communities of color, people with disabilities and products that address the gender wealth gap.”
QxBranch, the quantum computing and data analytics software company, has created a quantum computing simulator for the Commonwealth Bank of Australia (CBA).
Payments industry practitioners in the European Union are understandably obsessed with the implications of the revised Payment Services Directive (PSD2). This was evident at the recent European Payments Summit, held in the Netherlands, where PSD2 dominated many of the discussions.
Financial consultancy firm DeVere Group has launched an app-only e-money service as it pushes deeper into the banking and fintech sector. As Banking Technology reported last month, the group took advantage of Lithuania’s ambitions to attract fintech firms and set up a new office in the capital Vilnius. This was preceded by the unveiling of […]
Across the world, branches are disappearing or even getting smaller, but Alawwal Bank, with the help of financial services IT consultancy Synechron, has opened a new digital branch in Saudi Arabia in the form of a coffee shop. The Ibda café is located in the Nakheel mall in Riyadh. The bank says customers can open […]
UK challenger bank Starling has unveiled its developer portal to enable third parties to access customer data and build on top of its platform using APIs. As Banking Technology previously reported, Starling launched its mobile app and is welcoming the first customers through its digital doors to join a beta testing programme. It also recently […]
A secret recording that implicates the Bank of England (BoE) in Libor rigging has been uncovered by the current affairs programme, BBC Panorama. Libor (London Interbank Offered Rate) is used by banks to set prices of financial products. Last year, several ex-Barclays workers were found guilty of manipulating the Libor interest rate between 2005 and […]
Bank for Development and Foreign Economic Affairs – VEB – a state-owned development bank in Russia, has selected a new core banking system. The contract was awarded to Diasoft, one of Russia’s biggest core banking software providers.
Cyberattacks have been dominating newspaper headlines for some time now. Whether it’s losing access to PayPal, a distributed denial of service attack on Lloyds Group, or Tesco Bank customers losing £2.5 million to hackers, the threat of a cyberattack in 2017 is so great that it’s not a case of if, but when one occurs.
Fintech vendor Naqoda has launched its new development, Naqoda Core Banking Platform, which is “set to compete with new start-ups and legacy vendors alike”.
O-Bank (formerly Industrial Bank of Taiwan), is keen to transform itself into “a nimble and digitally-focused boutique lender” as it gears on for an IPO.
UBS is selling its risk and performance analytics service, UBS Delta, to StatPro Group, a provider of cloud-based portfolio analysis and asset pricing services for the global asset management industry.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Dr Andreas Dombret, member of the executive board of Deutsche Bundesbank, ponders why fintech innovation is such a hot topic now, of all times, what exactly innovation in banking means, and whether banks are even capable of being innovative.
The agreement between Alipay and UniCredit has now entered the operational stage. Technological infrastructure for this has been provided by SIA.
Cachet Financial Solutions is working with Central Bank of Kansas City (CBKC) to bring mobile-optimised prepaid programmes to community banks. The two companies have also teamed with Rebar Interactive to provide Select Mobile Money-Express, a platform that includes a Mastercard-branded prepaid card.
Facebook-owned WhatsApp is reportedly looking to get into mobile payments and has picked India as the best place to start.
Deutsche Bank has launched a new mobile payment app for Android devices.
Distributed ledger technology (DLT) consortium R3, together with five of its members and financial resource management specialist HQLAX have built a collateral lending solution for liquidity transfers. The solution is based on R3’s flagship platform, Corda, and is “an operating model for a digital collateral receipt (DCR) lending marketplace”.
OP Financial Group has partnered with Token, a Silicon Valley-based crypto-payment software provider. Token says the agreement will enable the Finnish bank “to innovate in the European open banking market and generate new revenue streams via future payment solutions”.
Wells Fargo and data aggregation provider Finicity have signed a deal that provides an API-based method for sharing Wells Fargo customer information with the financial apps and services that Finicity supports.
Kenya-based banking tech provider and integrator NLS Banking Solutions is seeking an injunction against Kenya Commercial Bank (KCB) for software infringement rights.
