Vancouver’s capital markets regulator surveys fintech firms
The British Columbia Securities Commission (BCSC) wants to serve the fintech firms in the state better.
The British Columbia Securities Commission (BCSC) wants to serve the fintech firms in the state better.
Mexico-based CIBanco has signed for a compliance services suite from Swift, which comprises compliance analytics and sanctions screening tools and KYC Registry.
HSBC plans the closure of 62 of its UK branches in 2017, with the loss of up to 180 jobs. This will bring the number of branches it has in the country to 625 by the end of 2017. It says it has no intention to close any further branches in 2017 and this marks […]
Siam Commercial Bank (SCB) intends to invest about THB 40 billion ($1.1 billion) in creating, acquiring and developing its technology infrastructure over the next three years. The Thailand-based bank says this investment will help it provide products and services that are better suited to serving its younger and more affluent clients. SCB’s innovation-focused subsidiary, Digital […]
Hellenic Bank, the second largest bank in Cyprus, has chosen the Backbase Omnichannel Banking Platform for its banking systems upgrade. The revamp will start with the public domain landing pages and web content projects, followed by mobile banking. In fact, its mobile banking app was “highly commended” in the Banking Technology Awards 2016. Natasha Kyprianides, […]
Want to save some time but be in the know of the latest funding initiatives in the fintech space? Then read on. Featuring Habito, Dwolla and H2 Ventures.
UK-based Starling Bank has become the “first of the digital-only challengers” to join Faster Payments this week. It is the 13th direct participant of the Faster Payments Scheme, and Starling says its customers will be able to see where their money is flowing and when in real-time, 24/7. Joining the board of Faster Payments, Julian […]
Artificial intelligence (AI) on its own isn’t enough to compete – companies need industry-specific solutions to business problems. So said Martin Schroeter, IBM’s senior vice-president and chief financial officer, on the company’s quarterly earnings call.
Customers of Lloyds, Halifax and TSB are unable to access their online accounts after a major outage. Based on Twitter feeds and the website monitoring service, Down Detector, there are problems across the UK. Many Twitter users, no strangers to tedious whinging at the best of times, are saying they can’t access accounts online or […]
Pakistan-based Samba Bank has signed for BenchMatrix’s retail loan origination system, RiskNucleus LOS. The solution will automate the bank’s consumer lending processes across its entire network of 37 branches and facilitate “moving towards a fully paperless environment”, BenchMatrix says.
U.K.-based Starling Bank has become the “first of the digital-only challengers” to join Faster Payments this week. The 13th direct participant of the Faster Payments Scheme, Starling says its customers will be able to see where their money is flowing and when in real-time, 24/7.
POSB, one of Singapore’s oldest banks and part of the DBS Banking Group, has launched an online virtual assistant. It is powered by the KAI conversational bot/AI platform from a New York-based fintech start-up, Kasisto.
Financial adviser firm DeVere Group has unveiled its own private bank, DeVere Group Bank St Lucia. The company says the launch “has been facilitated” by the acquisition of St Lucia-based Arton Bank for an undisclosed sum. Arton Bank was set up and licensed in 2014 under the Offshore Banking Act 1996. Founder and CEO of […]
Malta-based Bank of Valletta (BOV) is modernising its core banking software with Flexcube from Oracle FSS. Flexcube will replace Intrasoft International’s Profits core banking system.
New venture Motive Partners plans to invest in fintech firms in the UK and US. It looks to raise $150 million.
The General Data Protection Regulation (GDPR) comes into full effect in the UK in May 2018. Even if the UK triggers Article 50 of the Treaty of Rome in March 2017, it has to give two years’ notice to leave the European Union (EU), and therefore cannot escape the new data privacy provisions.
Russia-based Bank for Development and Foreign Economic Affairs (VEB), a state-owned development bank, has issued a tender for new core banking software.
FairFX, a London-based multicurrency payments service, has acquired Q Money and its e-money licence.
The Fintech Acquisition Corp I team that raised $100 million through an IPO in February 2015, has returned a new blank check company – Fintech Acquisition Corp II. It seeks to raise $153 million.
Western Union has admitted turning a blind eye as criminals used its money transfer services to launder money and commit fraud. It has agreed to pay a $586 million fine to the US authorities.
Financial services and fintech firms in the US come together to form a new industry group – Consumer Financial Data Rights (CFDR) – “to defend consumers’ access to their data and fuel innovation in fintech”.
London-based Persia International Bank, a joint venture of two Iranian financial services groups, Bank Mellat and Bank Tejarat, is undergoing a tech revamp.
Airdrie Savings Bank (ASB), the only remaining independent savings bank in the UK, is closing down for good.
Hong Kong-based tech accelerator Blueprint is calling out to the region and the world for start-up applicants.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Philippines-based Ayannah, a provider of financial services to migrants and the unbanked, was the overall start-up winner in the Next Money Fintech Finals 2017 in Hong Kong.
Financial Industry Regulatory Authority (Finra), a non-governmental organisation that regulates member brokerage firms and exchange markets in the US, has published an extensive report, evaluating the implications of blockchain for the securities industry.
Accenture and operations benchmarking consultancy firm McLagan evaluate the applications of distributed ledger technology (DLT) in investment banking operations in the “Banking on Blockchain” report.
Delta Capita has been appointed as managed service provider to Credit Suisse EMEA Structured Products business. A number of existing Credit Suisse team will transfer to Delta Capita as part of the deal.
AxiomSL, a regulatory reporting and risk management software vendor, has added financial services firm Raymond James to its customer list.
Daimler Financial Services is acquiring e-payments services provider PayCash Europe, based in Luxembourg. This will enable Daimler to launch its own e-payments service under the Mercedes Pay brand.
Rabobank is implementing ACI Worldwide’s UP Immediate Payments solution to support SEPA instant payments.
Financial innovation is unlocking additional funding for small businesses that have been declined by their bank. Katrin Herrling, co-founder and CEO of Funding Xchange, explores.
Park and ride? A visit to the Hong Kong Science and Technology Parks Corporation (HKSTP) and an opportunity for fintechs to ride the start-up wave.
Thesys Technologies, trading technologies and analytics software specialist, has won the contract to build a new system for the Securities and Exchange Commission (SEC) to track and store all stock and options orders and transactions.
The Competition and Markets Authority (CMA) in the UK has accepted undertakings from the Bacs payment scheme that commit it to delivering the improvements required by the CMA retail banking market investigation within a year.
De Surinaamsche Bank (DSB), the largest commercial bank in Suriname, is implementing the latest version of Fiserv’s Signature core banking system and DigitalAccess for digital banking capabilities.
Payments software and services vendor ACI Worldwide says its latest version of UP Immediate Payments provides “single point of access to all immediate payments schemes globally”.
The world’s largest wealth manager UBS has extended its long-standing agreement with EPAM Systems, a provider of product development and software engineering solutions. The agreement – worth over $300 million – “supports the bank’s strategic cost reduction programme”, according to EPAM.
Validata Group, a specialist in enterprise software testing and release automation, has teamed up with OneAston, a Singapore-based tech services provider to the wealth management industry, to jointly work on Temenos’ WealthSuite projects.