Sergio Ermotti returns to UBS as group CEO to help manage Credit Suisse takeover
Ermotti was previously group CEO of UBS for nine years between 2011 and 2020.
Corporate & Commercial Banking
Qashio taps Alinma Bank to launch operations in Saudi Arabia
According to both firms, the partnership is the first between a bank and a fintech in Saudi Arabia.
JP Morgan snaps up VC investment analytics software firm Aumni
The financial details of the acquisition, expected to close in H1 2023, have not been disclosed.
UBS buys Credit Suisse in government-backed deal
The new business entity will be worth more than $5 trillion, with invested assets worth more than $1.5 trillion.
Saudi BNPL firm Tamara lands $150m debt facility from Goldman Sachs
The receivables warehouse facility will help Tamara finance the accelerating demand for its flagship BNPL product.
Video: FinovateEurope 2023 highlights
Take a look at our highlights video from FinovateEurope 2023 in London.
ABN Amro deploys Infosys Finacle’s liquidity management solution for corporates
ABN Amro’s corporate customers can now better identify, manage, and enhance liquidity positions “on the go”.
Bank of Africa UK migrates to Oracle cloud
Bank of Africa UK’s new core banking system, Temenos Transact, will run on the Oracle cloud.
HSBC snaps up beleaguered Silicon Valley Bank UK for £1
The Bank of England facilitated the deal over the weekend, in consultation with the Treasury.
Philippines’ Security Bank taps ACI Worldwide to modernise payments
ACI’s enterprise payments platform will modernise the bank’s payments infrastructure.
Aussie central bank reveals participants and use cases for CBDC pilot
The selected industry players will participate in use case proposals over the coming months, the central bank says.
Riyad Bank taps SunTec for e-invoicing integration with Saudi tax office
The integration allows banks to share standardised e-invoices with Saudi tax office Fatoora.
Extended deadline announced for Banking Tech Awards USA 2023 nominations
The new deadline for nominations is now Friday, 24 February 2023. Apply today!
BBVA migrates its investment banking platform to the cloud with AWS
BBVA says the AWS platform “provides greater computing power” to make financial market-related calculations.
Fujitsu and Mizuho Bank partner for ESG data management project
The new service will visualise CO2 emissions across supply chains and help customers move towards de-carbonisation.
Report: How banks can blend digital and human for superior customer experience
Featuring practical business banking case studies from Metro Bank, Santander, and Lombard.
Commerzbank files lawsuit against EY over €200m Wirecard losses
Commerzbank has filed a suit against the accounting firm in Frankfurt court, Reuters reports.
Wall Street heavyweights BlackRock and Goldman Sachs cut jobs
The cuts amount to around 6.5% of the total staff headcount at Goldman and less than 3% at BlackRock.
Tide names Meta’s Vinay Ramani as new chief product officer
Ramani says he is joining Tide at a “critical juncture in its plans to globalise”.
Allianz, Santander CIB and Two partner for corporate BNPL solution
The solution means corporates can now offer business buyers deferred payments at checkout through a single API.
CTBC Bank in banking and wealth management tech revamp with TCS Bancs
TCS says its core system will “support the bank’s growth aspirations over the next decade”.
Bpifrance taps Thought Machine for Vault Core banking platform
Bpifrance is the first bank in France to deploy Thought Machine’s Vault Core platform.
Trovata partners JP Morgan for corporate liquidity solution
Trovata will host JP Morgan Asset Management’s Morgan Money investing application.
Santander UK hit with £107.7m FCA fine for AML failures
The regulator says it found “serious and persistent” gaps in the bank’s AML controls.
Wells Fargo launches digital business banking platform Vantage
Vantage leverages AI and machine learning to deliver personalised financial services for businesses.
SME challenger bank Allica bags £100m Series C funding
Allica says the cash will allow it to “scale rapidly and accelerate its disruptive impact in the UK SME market”.
Banque Saudi Fransi digital head Grant Niven departs
Niven was responsible for developing and executing the bank’s company-wide “digital vision”.
US banking sector launches digital asset settlement proof of concept
US banking heavyweights will explore the feasibility of a DLT-powered interoperable digital money platform.
Not all banks are created equal
Digital banks are setting themselves apart from the incumbents and ushering in a new age in banking.
Spanish banking sector to explore use of digital euro
Financial institutions will analyse the technical, operational and business implications of a digital euro.
Vietnam’s Sacombank taps Temenos for digital banking platform
Temenos Infinity will allow Sacombank to acquire, retain and cross-sell to customers across multiple channels.
Nordea partners Boost.ai for “chat-first” virtual agent drive
Nordea says more than 50% of its customers get the help they need from an initial interaction with chatbots.
US lender Dwight Funding bags $100m credit facility
The facility will support Dwight Funding’s growth and allow it to invest further in its proprietary technology.
National Bank of Pakistan taps Finastra for trade finance solution
The bank will deploy Finastra’s end-to-end working capital solution, Fusion Trade Innovation.
Goldman Sachs plots reorganisation, reveals change of plans for Marcus
“The concept of being broad, with a consumer footprint, is not really playing to our strength,” says CEO.
UBCI revamps corporate banking tech with Finastra and Tesselate
Union Bancaire pour le Commerce et l’Industrie (UBCI) modernises trade and cash management tech.
NorthOne bags $67m in Series B funding round
The new capital takes NorthOne’s total funding raised to date to more than $90 million.
Video: Brim Financial at Sibos 2022 – Card and payments innovation
At Sibos 2022, Brim Financial’s Meenaz Sunderji discusses the evolving retail and corporate card landscape.
Sibos 2022: How HSBC wants to power the Web3 economy
“We want to be the ecosystem platform provider to power up the Web3 economy,” says HSBC’s Catherine Zhou.
Risk management fintech Kantox sold to BNP Paribas
The sale builds on a strategic partnership between Kantox and BNP Paribas inked in 2019.
