Hey, Siri! Send some money via PayPal
PayPal is bringing its users “an early holiday present” – the integration of Siri into PayPal.
PayPal is bringing its users “an early holiday present” – the integration of Siri into PayPal.
Nordea has announced it now can handle the Swift MT798 messaging in a fully automated manner. MT798 facilitates corporate-to-bank (C2B) and bank-to-corporate (B2C) communication for the processing of documentary credits and guarantees.
Citi and Deutsche Bank have joined Neptune Networks, an open-standard network for bond pre-trade real-time AXE indications. The have also taken stakes in the venture and joined its board.
Parth Desai, CEO and founder of Pelican, discusses why artificial intelligence (AI) is already fact not a fantasy, but cautions that we need to be realistic about what can really be achieved on the journey to true AI adoption in transaction banking and payments.
Tesco Bank has refunded £2.5 million to 9,000 customers who had money stolen from their accounts by fraudsters over the weekend. It has also resumed “normal services” following the temporary suspension of online transactions from current accounts .
Swedish trading technology specialist Cinnober is spinning off its real-time clearing business into a separate subsidiary. Cinnober currently provides this service – known as “client clearing” – to large international banks and is keen to grow the business.
Israel’s Bank Leumi is gearing up for the launch of its new digital banking subsidiary, Pepper. It is expected to open its virtual doors for business before the end of 2016. The tech is provided by Temenos.
Italy’s largest retail bank, Intesa Sanpaolo, is working with Gemalto to deliver PIN codes to customers via SMS, web and mobile banking app. Gemalto describes the project as “the world’s first comprehensive e-PIN notification service”.
Intelligent Processing Solutions (iPSL), a UK-based cheque clearing firm owned by Unisys, plans to close down seven of its nine locations in 2018. This puts 600 jobs at risk, according to trade union Unite.
Redmayne-Bentley, a private client investment management firm in the UK, is implementing new client reporting software, supplied by specialist vendor Vermilion Software.
UK-based banking services challenger Ffrees Fiamily Finance has launched a new “digital agency banking solution” – U Account. The account is supported by Wirecard, Global Processing Services (GPS) and payments software vendor Bottomline Technologies.
Soldo, a London-based fintech start-up, is launching its flagship multi-user spending account. Soldo is not a bank, but a prepaid MasterCard. It holds an e-money licence from the UK’s regulator, FCA.
The UK’s regulator, Financial Conduct Authority (FCA), will focus on “unlocking regulatory reporting” in its second TechSprint event. Over 100 developers and 30 organisations are expected to participate and “experts from the Bank of England will be observing”, says the FCA.
UK-based Tesco Bank has revealed that 20,000 of its customers had up to £2,000 stolen from their accounts in a cyberattack. As a result, all online transactions have been frozen for 24 hours until the situation is bank “under full control”, according to Benny Higgins, Tesco Bank’s CEO.
Sparebank 1, an alliance of 16 Norwegian savings banks, has extended the contract with incumbent software supplier Evry. The agreement represents total contract value of NOK 3 billion ($364 million) over a six-year period.
SEB has teamed up with blockchain specialist Ripple to enable SEB customers to make real-time transfers between SEB accounts in Stockholm and New York. This is “the first step” of a larger blockchain-based payments project.
Law firm Addleshaw Goddard (AG) is launching the AG Elevate programme – worth up to £500,000 – to support the UK fintech firms. The application process will open on 17th November 2016 – more established firms as well as start-ups are welcome to take part, AG says.
Wipro has unveiled its Open Banking API Platform as its “expects a large number of banks and financial institutions to adopt open banking initiatives to conform with evolving banking regulations, meet customers’ digital expectations, and stay ahead in an increasingly competitive fintech industry”.
Where do major US banks and FIs place their digital adverts and how much they spend on these? We look at the digital marketing habits of Citigroup, Capital One and Chase (data courtesy of Pathmatics).
Eight start-ups and scale-ups in wealth management, regtech, artificial intelligence (AI), payments, big data, blockchain and cybersecurity are to take part in SuperCharger FinTech Accelerator 2.0.
Byte Academy has unveiled its first international campus with programmes in fintech, data science and Python full-stack development. The new campus is based in Singapore, supported by Standard Chartered Bank, IBM, Thomson Reuters, Microsoft and the Insead business school.
India-based A.P. Mahesh Co-operative Urban Bank is looking to upgrade or replace its legacy core software technology provided by domestic vendor Infrasoft Technologies.
Kasikornbank (Kbank), one of the largest banks in Thailand, is exploring blockchain with IBM, “to save costs and speed up transactions”, the two companies say. The services will be launched in H1 2017, to certify the letters of guarantee (LCs).
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
There has been a tremendous amount of excitement and discussion about the potential of blockchain technology to transform the financial services industry and beyond. But the only thing that is clear at the moment is that there is still a lot of work to be done to implement wide scale use cases, clear up any regulatory uncertainly or barriers and educate institutions and employees about the technology and its potential.
Amidst tightening regulations, the latest hack of the Bitfinex Bitcoin exchange has highlighted ongoing difficulties for the sector. Bourn Collier, associate, and Oliver Yaros, senior associate at Mayer Brown International LLP, explore. A few years ago media reports in Britain drew attention to the unfortunate plight of James Howells, a Welsh IT worker who had […]
Digital banking start-up Tandem has started inviting its community of 10,000 “co-founders” to be its first customers. Tandem was formed in 2014 and is accessible online, via an app and through a UK call centre. It got its banking licence in November 2015 and says its focus is on helping people manage their money rather […]
BBVA says it is the first financial institution in Spain to launch online onboarding via mobile, which allows anyone to open an account in “just a few minutes”. A customer’s identity is verified through a selfie and a video call. Users can open an account at BBVA through their mobile phone by going to its […]
Regulatory technology (regtech) is winning the race to combat regulatory compliance exposure and mitigate conduct risk – especially in digital business environments. Join us for a webinar to debate this hot topic.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Weatherbys Bank live with new core banking system EXCLUSIVE. Oracle FSS’s Flexcube flexes its muscles. Mobile payments and European millennials Vocalink reveals millennials’ habits and perceptions. Japan rises to blockchain challenge with new consortium Launches with 42 member […]
Smith & Williamson, a UK-based investment, tax and accountancy services firm, is looking for a core processing system, Banking Technology understands.
Vocalink has unveiled its comprehensive research into the habits and perceptions of millennials when it comes to mobile payments. Turns out, this group is still waiting for the “Uber moment” of payments.
UK-based Weatherbys Bank is live with a new core banking system, Oracle FSS’s Flexcube, Banking Technology understands. The project started in 2015.
Citi has unveiled a new feature to let credit card members dispute certain posted charges directly within the Citi mobile app for iPhone in the US. It says it is the only major US credit card issuer to provide this feature on mobile, and the new feature is designed to provide “increased peace of mind” […]
Philippines-based BDO Unibank has signed a contract with its long-standing tech provider Fiserv for managed services support of the bank’s IT initiatives.
First Global Trust Bank (FGTB) had its licence cancelled by the UK regulators, Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA).
How would you respond if someone were to ask you: “What is the purpose of the bank branch?” For decades, the first answer may have been: “To allow customers to conveniently transact with the bank and manage their accounts”. This model has now changed drastically, and banks that still operate as they used to will very quickly yield to more forward-thinking competitors.
UK challenger “neo-bank” Pockit says it now has 100,000 customers, “nearly twice as many” as three of its rivals – Monzo, Atom and Tandem – “combined”. On its website, Pockit says it is a “prepaid MasterCard, not a bank”, so the term “neo-bank” may be worth scrapping or explaining. It’s been around for a while, […]
Deutsche Bank, Morgan Stanley, Nomura International and Societe Generale have teamed up to produce documentation for use in listed and unlisted repackaging transactions. According to the banks, repackaged products provide the investor exposure to the underlying credit of an issuer and are specifically designed for the investor’s risk-return needs. In addition, cash flows can be […]
Poland’s Ministry of Digital Affairs and its banking sector have launched a project, “From paper to digital Poland”, to boost the digitalisation of the nation’s public administration. With the project, Poles can use their banking ID and password to log in to the social insurance board, contact public administration offices or a local government’s site […]