Oracle taps into AI buzz to calm security fears
Oracle has announced a number of updates to its security portfolio focusing on leveraging the buzz surrounding machine learning, artificial intelligence (AI) and contextual awareness technologies.
Banking
Argent Credit Union live with new core platform, Keystone
Argent Credit Union in the US state of Virginia has converted to a new core processing platform, Keystone from domestic software developer Corelation.
Abcul perseveres with Model Credit Union project
The Association of British Credit Unions (Abcul) says it is making progress with its Model Credit Union initiative, to modernise the tech and operations of its members. Three credit unions are now live with new core and mobile banking software.
The Monday mindset: 5 June 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 sum up the predictions made by Google’s illustrious chief futurist, Ray Kurzweil, on what awaits us this century. 2019 Farewell cables. […]
Infographics: how regtech savvy are you?
Banking Technology and BearingPoint conducted a survey to find out the industry view on regtech and its implications for all parties involved. The findings are now available in this nifty infographics.
Deriving value from big data
An explosive growth in data and information, coupled with advances in technology and a boost in methods of communication, have given rise to an empowered and aware global customer. And to provide legendary experience to their customers, maintain a competitive edge and to make better and sound decisions, organisations need to harness insights from this ever growing “big data”.
UK payments firm Helixion is liquidated
It’s not only the end of the working week but the end of the line for Edinburgh-based payments firm Helixion. The company has gone into liquidation and intellectual property (IP) firm Metis Partners has been appointed to support the marketing and sale of its assets. On Metis’ website, it says the deadline for offers has […]
Deutsche Bank feels the fourth on GBST Syn system in Australia
Securities processing software vendor GBST has migrated the back and middle-office operations of Deutsche Bank from the legacy GBST Shares platform to GBST Syn for processing the bank’s equity market trades in Australia. This is GBST’s fourth live Syn installation in the country. Other users are Macquarie Bank, Citi Australia and brokerage and investment firm […]
Misys scores another core banking system deal in Myanmar
Myanmar-based Ayeyarwady Bank (AYA Bank) has signed for Misys’ Fusionbanking Essence core banking platform.
Top fintech stories this week – 2 June 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
HSBC to debut robo-advice investment service
HSBC is entering the robo-advice market with the launch of a new online service for wealth management advice The service will use data and algorithms and will make personal recommendations based on an individual’s circumstances. It is expected to be available by the end of the year. The bank says this will “open up wealth […]
Implications of triggering Article 50 on London’s banking sector
Article 50, triggered just nine months after Brexit was officially announced, will give the UK exactly two years to strike a deal with the EU concerning its departure from the economic and trading bloc. What will be the impact of the referendum on the square mile? Will it cease to be the major financial hub this side of the Atlantic?
ING’s Yolt money app beta launches in UK
With an intended jolt and volt of energy, Yolt, a new money platform backed by ING, has launched its open beta for iOS and Android in the UK. The app has been tested in closed beta since October last year, and is now ready to invite more people to the platform. Yolt enables users to […]
Blockchain is here to stay, but what regulatory and legal hurdles does it now face?
DLA Piper’s John D. McGonagle speculates on what the rise of blockchain technology might mean for the future of banking, the feedback which the UK regulator FCA may receive from interested stakeholders, and some of the regulatory and legal hurdles which blockchain technology may need to negotiate in the near future.
Banking Technology June 2017 issue out now
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
ABN Amro and ING lead charge for Dutch ATM survival
ABN Amro, ING, Rabobank and Geldservice Nederland (GSN) have teamed up to explore a potential initiative to ensure the availability of ATMs in the Netherlands. These discussions are being conducted in consultation with the nation’s central bank, De Nederlandsche Bank (DNB), and draw upon “successful initiatives” in Sweden and Finland. With the rise of digital […]
Analysis: commercial cards, clear lines and communication
There is no question that the commercial card sector is growing strongly. According to Research and Markets, the US commercial card market in particular is outstripping other B2B payment types. For banks and banking services providers, this presents a huge opportunity to grow revenues while improving customer experience – a vital component in customer retention and increased lifetime value.
People on the Move: Jeff Hibbard, Fidor
Fidor, a digital banking solutions provider, has appointed Jeff Hibbard chief product officer. Hibbard’s focus is on driving product innovation for Fidor’s operating system.
International Regtech Association launched
International Regtech Association (IRTA) is a new worldwide industry body with over 100 founding members.
Legacy IT is the least of a bank’s problems
A recent Reuters article explored how companies like Cobol Cowboys make a fortune helping banks who struggle to keep their legacy systems running. But in fact, the real problem is not legacy IT, that’s just a symptom of the root problem in banks… the decision makers.
Bank of Sydney in online and mobile banking tech revamp with Fiserv
Bank of Sydney has completed its search for a new digital channels software provider – the winner of its tender is Fiserv with its DigitalAccess omnichannel system.
ICSFS signs National Bank of Yemen for ICS Banks core system, goes live at BOND Savings and Loans
ICS Financial Systems (ICSFS) has signed a core banking software deal with National Bank of Yemen, and has gone live at BOND Savings and Loans in Ghana.
Estonia’s digital banking is for everyone everywhere
Estonia has launched an e-residency programme to let anyone apply to join its new digital nation and register a global EU company that can be managed online from anywhere in the world. This means e-residents don’t have to travel to Estonia in order to access business banking. An EU company with a fully digital EU […]
What happens to banks when they overlook their CRM data?
Keeping high data quality in customer relationship management (CRM) should be among banks’ top priorities! We explore how outdated customer profiles and poor data quality may hurt banks’ efficiency.
Top fintech stories this week – 26 May 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Fintech and the role of government
What support does the fintech industry, and the broader financial ecosystem actually want (or need) from government?
HSBC plots to stop rise of the technophobe
A lack of understanding and trust in technology is stalling mainstream adoption of innovative new fintech services, according to HSBC’s research. The bank’s report, “Trust in Technology”, shows that technologies such as fingerprint recognition, voice recognition and robo-advice “hold enormous potential” for uses from bank security to mobile payments and investment advice. John Flint, global […]
Amsterdam Trade Bank revamps tech with Misys and Sentia
Amsterdam Trade Bank (ATB) is undergoing a major technology overhaul with Misys as a key partner. The bank is implementing Misys’ solutions from the Fusionbanking and Fusioncapital portfolios to modernise its corporate banking, treasury and capital management (TCM) and trade finance operations.
Travelex kills off Supercard
Supercard, a new card and mobile product launched by Travelex and Wirecard last June, is now being sunsetted.
Form3 teams with Apply Financial for payments validation
Form3, a cloud-based fintech firm launched last year, has partnered with payments validation company Apply Financial. The deal enhances Form3’s Payments-as-a-Service platform with “automation services to validate, enrich, and fix single and bulk payments”, Form3 says.
BBVA launches open banking business
BBVA has unveiled its open banking programme and is making eight of its APIs commercially available for the first time. The launch of BBVA API Market comes after the Spanish bank says it spent more than a year working with developers and businesses to prepare the way the open API service would be delivered. With […]
MyState in core banking system consolidation
Australia-based MyState Bank has moved onto a single core banking platform, replacing two separate installations. The solution is understood to be TCS Bancs from TCS Financial Solutions.
UK challenger CivilisedBank gets banking licence
UK digital bank CivilisedBank has received its banking licence from the Bank of England, paving the way for it to build its infrastructure and launch to customers in early 2018. As Banking Technology reported in June last year, the bank submitted its banking licence application and had planned to open for business in early 2017. […]
FIS Details How Younger Consumers—and Some Older Peers—Are Driving Digital Banking
Nearly half—49 percent—of millennial consumers had paid a bill via mobile within 30 days of a survey conducted for a new report from FIS. That data point underscores the growing importance of digital financial services and payments not only for younger consumers but their older counterparts.
Compliance Titans: Jani Gode, Payoneer
Jani Gode’s knowledge of payments compliance reaches to parts of the globe that are about as far away from the small Minnesota farm where she grew up as you can get. Gode leads the global compliance program as chief compliance officer at Payoneer, an online payments company founded in 2005 that enables businesses to send and receive cross-border payments.
SoftBank finally wows with $93bn investment fund
SoftBank has announced its first major close with $93 billion of committed capital, and the promise to hit $100 billion within six months, reports Telecoms.com (Banking Technology‘s sister publication). While it has been circulating in the news for some time now, it should be worth noting this is the largest private equity fund ever raised, […]
CKB in digital channels modernisation project with Misys
Montenegro-based Crnogorska Komercijalna Banka (CKB), member of Hungarian financial services group OTP, is implementing a new digital channels banking platform, Misys Fusionbanking Essence.
Saxo Bank releases new developer portal for open banking
Denmark’s Saxo Bank has released its new developer portal as it looks to strengthen its involvement in open banking. The portal provides technical documentation, reference guides, sample code and interactive tools. With the release, Saxo has made its trading infrastructure available to third-party developers, fintechs, vendors and partners, enabling them to connect to its trading […]
BankBI gains first US customer, Our Community Credit Union
Our Community Credit Union (OCCU), a $328 million institution in the US state of Washington, has selected BankBI’s financial and banking performance software.
Will robotic process automation herald a new digital era in regulatory compliance in banks?
Exploring how the robotic process automation (RPA) powered digital workforce looks to disrupt the manual effort intensive regulatory compliance landscape in BFS, what edge it has over its human counterpart, the roadmap towards RPA driven compliance, challenges in this digitisation journey and success mantras, and innovations that are underway towards building intelligent RPA to replicate human decision-making.
