Poland-based Bank Pocztowy is implementing a new risk management system, OneSumX, supplied by Wolters Kluwer. The solution will support the following areas: asset and liability management (ALM), market risk, liquidity risk, and credit risk (for the Basel III capital charges calculation). The bank will also use Wolters Kluwer to provide funds transfer pricing (FTP) analysis […]
Eventus Systems, a US-based provider of data processing and analysis solutions, has signed UBS Securities for its flagship Validus risk and surveillance platform. Mark Holder, global co-head of electronic trading at UBS, says Eventus and Validus offered “impressive capabilities that strengthen our current platform”. The implementation has just begun. “Validus is going to bring a […]
Path Solutions is implementing its flagship core banking offering, iMAL, at Summit Bank in Pakistan and Wifack International Bank in Tunisia. The contracts were signed in December and the roll-out is underway. Summit Bank Pakistan-based Summit Bank is implementing iMAL as it looks to grow its Islamic banking presence. Summit Bank was searching for a […]
Even as I am prepping for my next industry event, observations from the last conference I attended continue to permeate my thoughts. The ATMIA US Conference that was held in New Orleans only recently and yet, three items continue to have me thinking about the durability, indeed longevity, of some of the points raised. In […]
Banking Technology is conducting a survey – short and sweet – to find out the banks’ priorities when it comes to treasury software and solutions. How can technology help treasurers cope with the multitude of regulation, business transformation and industry demands? The treasury function plays a pivotal role within a bank, and with great power […]
A UK-based challenger bank, Atom Bank, has added another system to its bulging IT set-up. This is WDS Virtual Agent, which will answer customer queries from an AI bot within the bank’s mobile app. The solution is supplied by WDS, a subsidiary of Xerox. The vendor says it will “give the customers the power to […]
Croatia-based banking software developer, ABBA, has gained a new taker of its flagship core banking system, NovaDoba. This is a local bank, Banka Kovanica d.d. Varaždin. The agreement was signed in early March, “following months of negotiations”, says the vendor. The work on data migration and the implementation of the new solution has already begun. […]
Deutsche Bank has become the first foreign bank in China to establish host-to-host connectivity with Bank of China, as part of the project to deliver international cash management (ICM) services to corporate clients. The two banks have implemented an interbank host-to-host platform, with the first customer – Bosch China – already on-board. The project commenced […]
The introduction of the Fundamental Review of the Trading Book (FRTB) requires a rethink when it comes to risk architecture and data requirements. Xavier Dubois, Wolters Kluwer’s senior risk and finance specialist for EMEA, outlines the key points. There is an area of complete agreement when it comes to examining the potential impact of FRTB – […]
Berlin-based fintech incubator FinLeap and SolarisBank have created the “first” global banking platform, called Solaris – a Banking as a Platform (BaaP) service. FinLeap says it brought the team of entrepreneurs together, provided seed funding and support during the development phase for SolarisBank. Jan Beckers, chairman of FinLeap and chairman of the supervisory board at […]
Texas-based asset administrator, Virtus Partners, has gone live with new back office lending system, FusionBanking LoanIQ, supplied by Misys. The new platform supports full-service agency administration and bank portfolio loan administration. It covers SME, commercial and syndicated lending. The contract was signed in November last year. The implementation work took around three months and came […]
MasterCard’s planned acquisition of VocaLink has the potential to create a new payments powerhouse in Europe and beyond. Tom Hay, head of payments, Icon Solutions, explores the possibilities. The news of the planned acquisition broke a few days after the Payment Systems Regulator’s (PSR) recommendation that banks divest their ownership of the company. I’m sure […]
Cash payments are in decline – mobile payments are on the rise (thank you, Apple Pay, Google’s Android Pay and Samsung Pay). This nifty infographics sums up the ideas on what the future of money might look like. The infographics is courtesy of the MBNA credit card company (owned by Bank of America) and its […]
Finland-based Aktia Bank is implementing Accuity’s Global WatchList to provide regulatory sanctions and other compliance data. The solution covers politically exposed persons (PEPs), companies, vessels, goods, countries and payment information. Accuity says that Aktia’s decision to sign for the Global WatchList was driven by the compliance needs and the need to improve the efficiency of […]
Not a day seems to go by without another innovation of fintech announcement from a bank. While most have now dabbled in an incubator, accelerator or a lab here, and a fintech investment there, they all have one thing in common, argues Leda Glyptis, director at Sapient Global Markets. And that is a lack of tangible […]
Almost 50% of retail banks worldwide believe the rise of digital will bring an end to branch-based banking, according to a study by Temenos. “Retail Banking: In Tech We Trust”, the third annual study of retail banks produced in association with the Economist Intelligence Unit, reveals that banks perceive the threat from tech companies operating […]
The Payment Services Directive (PSD) legislation was adopted in 2007 with the objective of making cross-border payments across the EU as easy, efficient and secure as “national” payments within a member state. With the arrival of PSD2, the trend of digital innovation in payment will accelerate, states Antony Bream, UK managing director at Crealogix. The original Directive […]
Some of the major US banks are planning to tap into the instant payments market via their digital network, according to Reuters. Banks including JP Morgan Chase, Bank of America, Wells Fargo and US Bancorp will use their jointly-owned network, clearXchange, to let their customers transfer money. “What we are doing now is delivering payments […]
NFC mobile payments continue to grab headlines, but to really drive uptake and ensure full market coverage, combining contactless cards with next-gen mobile banking apps is surely the right way to go for 2016’s challenger banks, says Paul Underwood, MD of Thames Card Technology. Much has already been said about the opportunity for challenger banks to […]
Promoting financial products is a very challenging task. Konstantin Rabin, head of marketing at Kontomatik, suggests how a bank can improve its marketing efforts by leveraging API technologies. A financial services marketer needs to at least combine the benefits of the offer with a sense of security. Needless to say, the larger the offered benefits are, […]
Exactly who is affected as a result of the Fundamental Review of the Trading Book (FRTB)? Xavier Dubois, senior risk and finance specialist for EMEA at Wolters Kluwer, explores the subject. Earlier year, the Basel Committee on Banking Supervision (BCBS) set out the long awaited revised standards for minimum capital requirements for market risk. We […]
Standard Chartered has launched its “Bank on an iPad” sales and service tool in Asia, Africa and the Middle East. Called Retail Workbench, it is a digital tablet-based sales-and-service tool that “brings the bank” to clients. It is integrated with the bank’s back-end infrastructure, and will allow sales staff to open an account for a […]
Less than one in three customers now trust their bank or insurer, according to a 2014 research by PwC Financial. Banks are not only suffering from deep consumer mistrust, but they are also seen as stuffy, slow-moving relics of the pre-digital era. Antony Bream, UK managing director at Crealogix, argues that all that can be changed […]
Make a note, 5th September 2017 has been unveiled as the industry target for the US to move from a T+3 to a T+2 settlement cycle. The decision on this has been reached by the US T+2 Industry Steering Committee (T+2 ISC), organised by The Depository Trust and Clearing Corporation (DTCC) and co-chaired by the […]
Ulster Bank and KPMG have launched the “world’s largest free business accelerator” for entrepreneurs – Entrepreneurial Spark – in Belfast in Northern Ireland. The new hub, or “Hatchery”, can host up to 80 businesses and early stage entrepreneurs. Also involved in the launch were Royal Bank of Scotland (RBS) and NatWest (all three are part […]
Who, what, where, when of the fintech industry today – this excellent infographics pulls together plenty of useful data, from top specialists, unicorns and start-ups to geographies and M&As. Created by Savvy Beaver and Call Levels.
AnaCap Financial Partners, a private equity firm based in the UK, has acquired non-performing loans (NPLs) of Royal Bank of Scotland (RBS) and GE Capital Real Estate in Italy. It is also understood to be crystallising a strategy to launch a new digital bank in the UK. The acquisitive PE firm has gained over €2 […]
There are many uses of big data analytics by financial organisations to meet evolving regulatory and compliance requirements, Swift Institute reveals in its recent paper, “The Role of Big Data in Governance: a regulatory and legal perspective of analytics in global financial services”. The paper cites two case studies as examples of how these analytical […]
What does the future of loyalty hold and what is the role of big data in it? Christopher Evans, director at Collinson Group, shares some key insights. The fervour for big data analytics sweeping through retail bank boardrooms at a global scale is intensifying as corporate strategy prioritises a shift towards true real-time intelligence. This […]
Long considered an impenetrable space dominated by a few, the financial services industry is currently riding a giant wave of entrepreneurial disruption, disintermediation, and digital innovation. Recent industry developments such as the regulatory pressure as well as the criticality of business intelligence (BI) and customer experience are impacting banks more than ever before. Financial institutions […]
Vermilion Software, a UK-based supplier of client reporting and communications software, has completed a project at Jyske Bank in Denmark. Jyske Bank, which holds the third largest market share in Denmark and specialises in private banking, embarked on the IT revamp last summer. On the way out was the in-house built system. Jacob Jensen, head […]
The aims of the Securities Financing Transactions Regulation (SFTR) may be laudable – but how much difference will some of the changes really make, other than create another operational burden? As Tracy Dilks, senior consultant, and Akber Datoo, founder and managing partner, D2 Legal Technology, suggest, the regulator might as well put a sign in […]
With challenges across the board, banks will have their work cut out to keep up with the changing world of payments in 2016. It is shaping up to be a pivotal year for the payments industry as regulation, new technology, major infrastructure overhaul projects and security issues combine to reshape the landscape. According to a […]
Al Ahli Bank of Kuwait (ABK) has picked Infosys’ Finacle suite to replace Misys’ products as part of its technology revamp. The bank will deploy the complete suite of Finacle solutions, including core banking, trade finance, wealth management, CRM, e-banking, payments, treasury, alerts, SMS banking, liquidity management, retail and corporate loan origination. Abdulla Alsumait, deputy […]
Mark Bands, head of product & regulatory intelligence, iMeta Technologies: When speaking with prospective financial institution customers of our client lifecycle management (CLM) platform I am surprised at how often an “in-house” build solution has either already been chosen or is being seriously considered as an option. Surprised, that is, that firms’ in-house technology functions are confident […]
Can applying semantics make BCBS 239 reporting consistent and comparable across all regulatory bodies? Rupert Brown explores the options when best practice isn’t good enough… Regulatory vagaries and the punitive fines make these tense times for bank risk officers. On the one hand, regulators are asking for a whole lot of architectural work to be […]
North American software provider, D+H Corporation, has made optimistic noises over its Global Transaction Banking Solution (GTBS) unit in its latest financial results. The vendor claims to have “won a majority of payment hub RFPs” as well as “surpassed the Fundtech [now GTBS] backlog record” in generating revenue from the existing projects. Gerrard Schmid, CEO […]
Japan Exchange Group (JPX) is building a real-time clearing solution for its listed derivatives market with the help of specialist provider Cinnober. Sweden-based Cinnober is providing JPX with its flagship Tradexpress clearing platform. JPX’s listed derivatives market is operated by the Osaka Securities Exchange (OSE) and cleared by the Japan Securities Clearing Corporation (JSCC). JPX […]
A quiet revolution powered by the force of data science has begun to deliver significant improvements in many areas including national security, business intelligence, law enforcement, financial analysis, healthcare and disaster preparedness. But are we ready to use the force in banking? Standard Chartered’s global chief innovation officer, Anju Patwardhan, explores the topic. Digital data […]
Banks and fintechs should collaborate rather than compete, leveraging their respective strengths to revolutionise the B2B payments space and create sustainable business models in today’s digital era. As the next stages of digital structural change continue to transform financial services, the focus of technological developments will shift. Most recent developments in business models have been […]
