IBM Cloud comes to China
Wanda Internet Technology and IBM have signed an agreement for the former to enter the public cloud business in China. This will be done via a new firm – Wanda Cloud Company – built on the IBM Cloud Platform.
Banking
Oracle earnings look promising, but why the IaaS obsession?
Oracle has had another positive quarter as it navigates the complicated waters of business transformation, but it’s still a long way from kicking Infrastructure-as-a-Service (IaaS).
Automation in US banking – part 1
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.
Women in fintech: why do we need them and how do we recruit them?
Over the holiday period I saw my 17-year-old niece Katie reading an article in an engineering magazine about the lack of women in that industry. She is considering becoming an engineer.
Yes Fintech accelerator unveils 12 finalists
Yes Fintech, the accelerator programme of India’s Yes Bank, has unveiled its 12 finalists.
SIX Securities Services unveils blockchain based bond issuing solution
SIX Securities Services, Switzerland’s post-trade market infrastructure says it has developed – “and intends to deploy” – a new bond issuing solution based on the distributed ledger technology (DLT).
Branches to go in Alior Bank’s 2020 digital dream, but tech to get $100m investment
Poland’s Alior Bank has unveiled its growth ambitions and number of branch closures over the next three years with its “Digital disruptor” strategy. In its 65-page report, the bank does the usual trick of praising itself and its disruptive qualities, calling itself the “largest ever start-up” in Central and Eastern Europe in the financial services […]
Warba Bank first in Kuwait for e-signatures and online account opening
It’s a digital double as Warba Bank has launched the “first” e-signature function and online account opening in Kuwait. Called “Express Finance”, the e-signature is the result of an agreement between Warba and Kuwait’s Public Authority for Civil Information. It allows users to authorise the bank to view their information on the credit network (Ci-net) […]
Case study: Credit Suisse and SmartStream – fees and expense management
How a vendor’s acquisition of a big bank’s platform has led to the development of a utility. Credit Suisse talks about its fees and expense management transformation journey.
Top fintech stories this week – 17 March 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
N26 mobile bank powers to 300,000 users
Berlin-based mobile bank N26 says its user base grew to more than 300,000 over the last year, tripling in size since the last announcement of 100,000 users in January 2016. As Banking Technology reported late last year, N26 took its business fully across 17 European countries, including Spain, Italy, Greece, Ireland and Slovakia. Before that […]
Starling Bank spreads its beta wings
UK challenger bank Starling has unveiled its mobile app and is welcoming the first customers through its digital doors to join a beta testing programme. As Banking Technology previously reported, the bank has been getting ready for this moment. Yesterday (15 March), it chose TransferWise to provide money transfer services to its customers. It will […]
White paper: accelerating digital wealth management
Private banking and wealth management transformation programmes don’t need to be too risky, lengthy or costly!
Putnam-Greene Financial Corporation in tech modernisation with Fiserv
Putnam-Greene Financial Corporation, a $510 million holding company of four banks in Georgia, US, is modernising its front-to-back office software with Fiserv.
Jack Henry turns to Geezeo for personal finance management tools
Jack Henry & Associates, one of the “big four” banking technology vendors in the US, has joined forces with personal financial management (PFM) firm Geezeo to help consumers manage their finances.
TransferWise to power Starling Bank payments
TransferWise will provide money transfer services to customers of UK challenger bank Starling when it launches later this month. As Banking Technology has previously reported, the bank is getting ready for its 2017 launch. It will host its first hackathon, opening up its API to outside developers. It has received its UK banking licence, joined […]
QNB Finansbank first in Turkey to launch digital signatures in branches
Turkey-based QNB Finansbank, a subsidiary of QNB Group and one of the top five privately owned banks in the country, has enabled its customers to use digital signatures for account opening and loans in the bank’s branches.
The UK gets new coins, but why?
As of March this year, UK’s one-pound, two-pound and 50p coins have all been upgraded to become “the most secure coins in the world”. However, with the rise in cashless payments, online transactions and mobile banking, is there any point?
Looks like cyber criminals are pretty smart after all
New research from Gartner has shown enterprise organisations are beginning to accept that they are not as smart as cyber criminals, and investments over the course of 2017 will reflect this.
Analysis: banking innovation in the US
Banking Technology puts the banking innovation in the US under the spotlight. The market is not short of digital offerings: Simple, Moven, Kabbage, Acorns, Earny, Debitize, MagnifyMoney and more – take your pick!
Bank Yahav live with TCS Bancs core banking platform: “the world’s most complex IT project”
Israel-based Bank Yahav has gone live with a new core banking platform, Bancs, supplied by TCS Financial Solutions. The “pure Java-based” solution is provided on a hosted basis.
White paper: break filter bubbles in banking enterprise fraud management
Synthesise holistic wisdom from core systems and not just from channel silos. From depth of analysis, ease of configuration/implementation and cross-channel fraud detection to insider fraud detection and real-time high availability, a synchronised enterprise fraud risk management approach delivers five compelling advantages over a delivery channel silos only approach.
SBI Holdings, Unicredit and Bertelsmann invest in SolarisBank
Berlin-based fintech SolarisBank has raised €26.3 million from Japanese financial group SBI Holdings, German media company Bertelsmann, Italian banking group Unicredit, plus other investors.
IOB Singapore looks for new regtech system and vendor
IOB Singapore, a subsidiary of Indian Overseas Bank, is looking to modernise its regulatory reporting tech.
Alexander Graham Bell’s influence on tech innovations in today’s financial services
“Mr. Watson, come here, I want to see you.” These were the first words ever spoken over a telephone line and said by the man fondly described as the father of the telephone, Alexander Graham Bell, who would have turned 170 on 3 March this year.
UK faces relegation battle in fight for digital dominance
If data is going to define the digital economy the UK is screwed, according to fresh research from Teradata.
DH Corporation to be bought by Vista Equity Partners and merged with Misys
Canada’s banking software firm DH Corporation (D+H) is to be acquired by Vista Equity Partners and merged with Misys. The deal is reported to be worth CA$ 2.5 billion ($1.9 billion).
The Monday mindset: 13 March 2017
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 we welcome the views of our editor, Tanya Andreasyan, as she gives us the lowdown on going digital.
Lloyds in £1.3bn tech outsourcing deal with IBM
UK-based banking group Lloyds is to outsource its tech to IBM in a seven-year deal worth £1.3 billion. More than 1,900 jobs will be shifted to IBM and £760 million of costs will be cut as a result.
Capital One launches SMS chatbot, Eno
Capital One is introducing virtual assistant Eno, a chatbot that communicates with the bank’s customers via text messages.
Banco Sabadell in regtech project with AxiomSL
Risk management and regulatory reporting software vendor AxiomSL has been selected by Banco Sabadell.
SEB supports Samsung Pay in Sweden
SEB is among the first banks in Sweden to offer Samsung Pay functionality to its customers.
Fortuna Banque to revamp front-to-back office tech with Temenos and Syncordis
Luxembourg-based Fortuna Banque, a retail co-operative bank, is modernising its core banking and digital operations with Temenos. The project is being carried out by local system integrator Syncordis.
JPMorgan Chase acquires MCX payments technology
The technology behind CurrentC, the QR-based mobile payment service created by MCX, a consortium of the largest merchants in the US, has been acquired by JPMorgan Chase. The bank says it will help expand Chase Pay, the mobile and digital wallet for Chase customers.
Housing Bank Algeria in tech revamp with Infosys Finacle
Housing Bank Algeria, a subsidiary of Jordan-based Housing Bank for Trade and Finance (HBTF), is modernising its front-to-back office technology with Infosys Finacle.
DSK Bank moves core and digital banking ops to IBM Cloud
DSK Bank, Bulgaria’s largest bank and a member of the OTP banking group, has completed the migration of its banking operations to IBM’s data centres.
KBC Asset Management in technology modernisation
KBC Asset Management, Belgium’s largest investment manager, is implementing a new investment book of record (IBOR) platform, Simcorp Dimension, and Axioma’s risk management engine.
Blockchain offers banks potential, but HFT provides benefits now
I’ve been a technology nerd since before it was cool. In fact, when I went to college in the mid-1970s engineering students were treated more like George McFly than Mark Zuckerberg. It wasn’t the most glamorous major to talk about. Not much has changed today when I tell people I lead an advocacy organisation in support of high frequency trading (HFT), a technology that lowers trading costs for banks, asset managers and pretty much all investors. I find the work exciting, but I do run into my share of Biff Tannens.
Siam Commercial Bank invests in new fintech focused VC firm
Thailand’s Siam Commercial Bank (SCB) has invested a “significant” sum into a new Singapore-based venture capital (VC) firm, Dymon Asia Ventures.
Penta and SolarisBank team for business bank accounts for German SMEs
Two Berlin-based fintech firms, Penta and SolarisBank, have joined forces to provide German businesses with “fast access to bank accounts”.
