Banque Libano-Francaise live with Validata ABC for release automation
Banque Libano-Francaise (BLF) has gone live with the Validata ABC continuous delivery platform.
Banking
ICSFS gains new core banking system client in Iraq, Al-Arabiya Islamic Bank
Al-Arabiya Islamic Bank (AIB), a greenfield bank in Iraq, has opted for the Islamic version of the ICS Banks core banking system from regional vendor ICS Financial Systems (ICSFS).
Salem Five Bank in major tech overhaul with Fiserv
Salem Five, a $4.2 billion mutual bank in Massachusetts, is embarking on a major technology overhaul with Fiserv’s core, digital banking, payments, and commercial solutions.
CIBC automates reg reporting in UK and APAC with Wolters Kluwer’s OneSumX
Canada’s banking group CIBC is implementing Wolters Kluwer’s OneSumX for regulatory reporting across its locations in the UK, Japan, Australia, Hong Kong and Singapore.
Askari Bank goes live on Autosoft’s Islamic treasury solution
Pakistan-based Askari Bank has gone live with Autosoft’s Islamic treasury management system, Adams Islamic, and its RTGS STP utility (real-time gross settlement system straight-through processing), AutoRTGS. The bank can manage its Islamic treasury operations using Adams Islamic as well as process funds transfers between banks using AutoRTGS. Adams Islamic is also integrated with the bank’s […]
PSD2 and the future of payments
Banks need to do more than just comply with the upcoming revised Directive on Payment Services (PSD2). To survive, banks will need to embrace these changes.
Metro Bank speeds up data virtualisation with Delphix
UK challenger Metro Bank has accelerated a data project delivery, cutting provisioning time by 80%, following the deployment of the Delphix Data Virtualisation platform. The bank began working with California-based Delphix to enable it to deliver data to teams better. The idea was to integrate enterprise software into an existing IT stack. Delphix says its […]
Temenos cuts jobs in US; eyes D+H payments business
Banking software vendor Temenos is understood to have laid off a number of staff across its operations in the US, including at the Trinovus and Akcelerant subsidiaries. It is also understood to be eyeing the payments business of DH Corporation, Global Transaction Banking Solution (GTBS, formerly Fundtech).
New SME bank for “millennipreneurs” comes to Europe, BankUP
BankUP, a new fintech venture based in Kontich, Belgium, looks to tap into the European SME banking market.
IBM unveils Dubai blockchain deal
IBM has launched a blockchain initiative for trade finance with telecom operator du, Dubai Customs, Dubai Trade, Emirates NBD and Banco Santander. The plan is to explore the use of logistics solutions for the import and re-export process of goods in and out of Dubai. Using Hyperledger Fabric and IBM Cloud, their blockchain solution transmits […]
BNP Paribas to invest €3bn in digital transformation
BNP Paribas has unveiled a new 2017-2020 business development plan – building the bank of the future. €3 billion will be invested in the programme.
Moven the maven for monetary monitoring
Moven, the online-only bank founded by Brett King, has launched its finance help app to “make monetary monitoring easy for everyone” in the UK at FinovateEurope. Moven was first launched in the US in 2013, and this new UK app took four weeks to launch. King says this is its “first launch in Europe” and […]
AnaCap to acquire €177m loan portfolio from Barclays
Private equity firm AnaCap Financial Partners will acquire a portfolio of Italian performing and non-performing corporate secured loans from Barclays. The portfolio, which has a gross book value of €177 million, comprises loans to primarily small and mid-sized corporates secured against real estate located mostly in the north of Italy. The agreement follows AnaCap’s Credit […]
Payments start-up Fire fires up
Fire Financial Services – now trading as Fire – has launched and is targeting the UK and Irish markets with a digital account. Colm Lyon, founder and CEO at Fire, says: “It has taken some time for us to reach this day – several years of trying and getting it wrong.” Now the business has […]
ImaginBank launches chatbot for millennials
CaixaBank’s mobile-only bank, imaginBank, has unveiled a chatbot to help millennials find offers and promotions most relevant to them, based on their preferences or location. Powered by artificial intelligence (AI), the chatbot will be available to users via Facebook Messenger on imaginBank’s Facebook page. Launched in January 2016, imaginBank is a 100% digital and mobile […]
Wells Fargo teams with Intuit for data exchange
Wells Fargo has signed an agreement with financial software firm Intuit to help customers import their bank account data to financial management tools such as QuickBooks Online, Mint and TurboTax Online, via their application programming interface (API). Data imported via these APIs is intended to help customers save time and avoid potential data-entry errors. Brett […]
Emirates NBD steps up digital banking game with Cockpit Application launch
Emirates NBD has launched Cockpit Application, an intelligent new CRM solution for branches. The bank has also introduced biometric digital signatures and straight-through processing (STP) of digital forms.
Modern payments and banking APIs
Modern banking is not limited to banks anymore. It’s not only about online or mobile banking, it’s about all the things you would do in your banking system, but now you can do in apps or other solutions provided by third parties, not banks. Payments are one of such functionalities.
Central 1 Credit Union to revamp digital banking platform with Backbase
Central 1 Credit Union, a software and services provider to 300 financial institutions in Canada, will overhaul its MemberDirect digital banking platform with Backbase’s tech. This is the first known deal for the Dutch vendor in Canada.
Clearstream migrates to Target2-Securities; nearly doubles T2S settlement volume
Clearstream Banking Frankfurt and LuxCSD have migrated to the European Central Bank’s (ECB) Target2-Securities (T2S) platform. “The first business day is already in process and runs smoothly,” Clearstream states.
DTCC sells Clarient Global and Avox to Thomson Reuters
The Depository Trust and Clearing Corporation (DTCC) has agreed to sell its Clarient Global and Avox businesses to Thomson Reuters.
Mirae muscles into US market with new services; tech provided by FIS
Mirae Asset Securities, a subsidiary of Asia’s Mirae Asset Financial Group, has selected FIS as its technology partner to launch prime brokerage, global securities lending, repo, delta one and correspondent clearing businesses in the US.
The Monday mindset: 6 February 2017
Fintech zeitgeist! Welcome to the third in a new series of brief reports. 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 guest writer Soumik Roy on India’s latest budget and its implications for e-payments and digital economy.
Banks and UN launch sustainable investment framework
United Nations, together with 19 banks and investors worldwide, have launched “a global framework aimed at channelling the money they manage towards clean, low carbon and inclusive projects”. The framework – The Principles for Positive Impact Finance – is a first of its kind set of criteria for investments to be considered sustainable, says the UN.
Klarna acquires BillPay
Sweden-based payments provider Klarna has acquired a fellow payments company in Germany, BillPay. The deal is understood to be worth £60 million.
BankMobile to be sold this quarter; delays relaunch of mobile app
BankMobile, a mobile-only bank launched by Customers Bancorp two years ago, is expected to be sold this quarter, according to Customers’ president and CEO, Jay Sidhu.
The “entrefunereal” spirit takes hold at Rainmaking Summit
Game-changing innovations, paradigm shift and synergy… Buzzwords no more! The Rainmaking Summit tapped a frustration with the kind of language that obfuscates more than it clarifies, initiatives that pay lip service to innovation while skirting around the edges, and the cultural, organisational, and technological blockers to change that define many large corporates.
Ziraat Bank London to replace legacy core banking tech with Misys Fusionbanking
Turkey’s banking group, Ziraat, is to modernise core banking software at its London branch, Banking Technology understands. The new solution will be supplied by Misys.
Barclays to overhaul back office ops & set up standalone entity, Barclays Services
Barclays is embarking on a major back office operations overhaul, with the creation of a standalone company, Barclays Services.
AWS, IBM, Google and Azure dominate cloud revenues
Synergy Research has released its latest findings for the global cloud computing market, painting a worrying picture for any challengers looking to cash in on the craze.
Banking Technology February 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.
Insurtech in 2017: making insurance great again
There are many reasons to be excited about insurtech in 2017!
BBVA writes down $89.5m for Simple in three years since $117m acquisition
BBVA Compass has unveiled a “goodwill impairment” charge of $60 million in its latest financial results, attributed to its direct banking service subsidiary, Simple. BBVA bought Simple in 2014 for $117 million. It has since written down $89.4 million.
Glance and trade: Swissquote introduces VR trading
Swiss online bank Swissquote has developed a virtual reality (VR) trading application that enables users make trades with a glance. The VR headset creates a 360° trading wall for users to monitor the markets.
First mobile credit card, PayLife 0100, launched in Austria
SIX Payment Services brings to market PayLife 0100, Austria’s first mobile credit card.
St Stanislaus-St Casimir’s Polish Parishes Credit Union in core banking revamp with Smartsolution’s Universa
Canada-based St Stanislaus-St Casimir’s Polish Parishes Credit Union (Polcu) will move to a new core banking platform, Universa, supplied by local banking tech vendor Smartsolution.
Switzerland to amend banking rules to become fintech-friendly
Switzerland’s Federal Council has issued a consultation paper on amendments required to its Banking Act and Banking Ordinance, to create an environment that helps fintech start-ups thrive in the country.
Scotiabank to become “digital leader” in five markets
Scotiabank has updated the market on how it has adopted the digital technology so far and how it plans to become a “digital leader” in its five key markets.
Citi’s institutional clients in APAC can now ditch their physical login tokens
Citi’s institutional e-banking platform, CitiDirect BE, will now use MobilePASS which lets corporate users replace their physical login tokens with their personal mobile devices for authentication.
New Zealand announces new fintech working group
The New Zealand Tech Industry Association (NZTech) is launching a new working group, FinTechNZ, which will focus on financial innovation and technology. This working group will be inaugurated in Christchurch, Wellington and Auckland next week.
