Infographics: the new £1 coin
It’s infographics time! This nifty infographics, created by Mastercard, outlines some interesting facts and figures about the new £1 coin, compared to the old one (introduced back in 1983).
It’s infographics time! This nifty infographics, created by Mastercard, outlines some interesting facts and figures about the new £1 coin, compared to the old one (introduced back in 1983).
A greenfield bank in Iraq, International Islamic Bank (IIB), has signed for the ICS Banks core banking system from ICS Financial Systems (ICSFS).
UK Export Finance, the country’s export credit agency and a government department, is looking to recruit a new head of IT.
Ukrainian fintech start-up Attic Lab has signed its second deal to implement SmartMoney, a blockchain-based digital money system, at a local bank. This is with Bank Alliance.
Raiffeisen Bank Romania, a subsidiary of Austria’s Raiffeisen Group, is modernising its channels delivery with Backbase.
Art Gillis, a seasoned banking technology consultant (working in the computer industry since 1958 – and listed as a top 25 tech consultant by the American Banker) and author, presents his latest “Automation in Banking” report (#31!), which looks at the US core banking and ancillary software market.
The House of Lords Financial Exclusion Committee is calling for the UK Government, the Financial Conduct Authority (FCA) and banks to give greater priority to tackling financial exclusion. In its new report, “Tackling financial exclusion: A country that works for everyone?”, the Lords want an end to the “scandal of the poorest being excluded from […]
Samsung, Smartlink and Ingenico have unveiled their “contactless companion platform” (CCP) to let people pay for things using anything they’re wearing — such as a watch or a wedding ring. It has been built with a dual interface smart card chip for multiple applications and form factors. Users tap the wearable on an NFC card […]
At yesterday’s Citi Digital Money Symposium, the question of a strategic response to fintech and the broader innovation challenge was posed to speakers from a number of large incumbent firms in the financial services sector.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
UnionBank of the Philippines (UnionBank) has launched the New EON, a new digital banking platform (a revamped version of the original EON, launched at the start of the millennium). The mobile biometric authentication tech is provided by Daon.
The US Securities and Exchange Commission (SEC) has dashed the hopes of internet entrepreneurs and venture capitalists Cameron and Tyler Winklevoss, who were hoping to create an exchange-traded fund (ETF) for the virtual currency Bitcoin.
Royal Bank of Scotland (RBS) is closing 30 of its own branches and 128 of its subsidiary, NatWest, putting 470 people out of work. The bank says this decision is a result of the changing consumer behaviour, which has now shifted to digital banking.
The UK’s new financial trade association – created as a result of the merger between six domestic associations in the banking and payments space – has unveiled its name: UK Finance.
SmartStream has hired Richard Bowler as chief financial officer (CFO).
Turkey’s largest bank, Isbank, has introduced a digital mortgage process where users can follow up credit pre-approval, the actual appraisal and overall credit process 24×7. In the bank’s “instant transaction” area, users’ mortgage applications are pre-approved within a “few seconds” and users can upload title deed images and pay the appraisal fee online to start […]
UK-based innovation foundation Nesta has launched its “Open Up Challenge” as it looks for services, apps and tools for SMEs. The competition is now open for entries. A £5 million prize fund is on offer and it is looking for 20 entries from anywhere in the world that will use open banking APIs – “newly […]
We hear a lot about how artificial intelligence (AI) has the potential to displace jobs, especially those held by women in tech, but should we also worry about a future overrun with sexist, racist machines?
Digital payments app, Samsung Pay, has been launched in India. Access is limited to those who signed up for the early access programme and available only on its mid-segment and flagship Samsung Galaxy devices.
With the EU’s Second Payment Services Directive (PSD2) and open architecture framework set to come into force next year, regulation may well tip the scales between banks and fintechs for customer loyalty, according to a new report conducted for Temenos by the Economist Intelligence Unit. In the 36-page study, “Symbiosis: Your bank has your trust. […]
The Illinois Department of Financial and Professional Regulation (IDFPR) has become the first US regulatory agency to join the R3 Consortium, a global partnership of banks and other parties working to develop distributed ledger-based applications for financial services.
Professor Michael Mainelli, executive chairman of Z/Yen Group, and Vinay Gupta, founder of venture capital firm hexayurt.capital, discuss mutual distributed ledger economics.
Deutsche Bank has opened an innovation lab in New York, its fourth globally. The lab is part of its five-year plan for €1 billion investment in digital initiatives. It is sited in Lower Manhattan’s Fulton Center and will explore new technologies focused on several areas, including artificial intelligence, cloud technology and cybersecurity. Elly Hardwick, head […]
VA Desert Pacific Federal Credit Union and East Idaho Credit Union have entrusted their core processing operations to Symitar Ease, supplied by Jack Henry’s subsidiary Symitar.
Russia-based Post Bank, a joint venture of VTB Group and Russian Post, has purchased 3,200 self-service cash recycling systems (plus software and services) from Diebold Nixdorf.
Nedbank, one of South Africa’s largest banks, is implementing a new syndicated lending system, Fusionbanking Loan IQ, supplied by Misys.
Banking Technology and BearingPoint are conducting a brief survey to find out the industry view on regtech and its implications for all parties involved.
Al Baraka Bank in Pakistan is migrating the acquired fellow Islamic bank, Burj Bank, onto the Autobanker core banking system from Autosoft Dynamics.
Ontario-based Alterna Bank says it has launched “Canada’s first and only end-to-end digital mortgage”.
The top Democrat on the US House Financial Services Committee wants to interview executives from Wells Fargo over a scandal about fake accounts its employees set up for customers.
CapEd Credit Union in Idaho, and two Californian credit unions, Pacific Marine and Camino Federal, have converted to new core processing software, Keystone, supplied by Corelation.
The Bank of England’s (BoE) fintech accelerator has teamed with Ripple for a cross-border payments proof of concept (PoC). As Banking Technology reported last year, the accelerator was set up to harness innovation for central banking. In this latest development, the PoC with Ripple is intended to demonstrate the synchronised movement of two different currencies […]
UK-based challenger Jargon Bank has taken the fintech world to new levels of rapture with the move of its London office 100 metres down the road. As Banking Technology reported last year, the “game changer” bank launched offering “compelling and innovative” products, which raised more questions than answers. This was followed in February with an […]
Fintech zeitgeist! Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye. This week, Banking Technology deputy editor Antony Peyton doesn’t offer up one view, but the views of many. While Twitter in general may often […]
UK challenger bank Tandem is not to receive any further investment from retail chain House of Fraser. House of Fraser invested £6 million in December, as part of a planned £35 million injection.
TSB Bank in New Zealand is rolling out a new lending solution from Australia-based fintech start-up Cloudcase.
Australia-based BT Financial Group, a wealth management subsidiary of Westpac, has added new functionality – superannuation administration – to its core banking platform, supplied by Avaloq.
Cognizant, a global provider of digital, technology, consulting and operations services, is to get rid of up to 4% of its workforce, it is understood. It is also keen on increasing automation, investment in digital and M&A.
This nifty infographics, created by the European Payments Council (EPC), explains all you need to know about PSD2, from what it will change and its key components (such as APIs) to who the new players are.
QNB Finansbank, QNB Group’s subsidiary in Turkey, has developed TouchFinans, a core banking application for the bank’s SME division to carry on their Windows tablets.