Banking Tech Awards 2023: Nominations now open!
This year’s ceremony will be held on 30 November 2023 at the Royal Lancaster Hotel, London.
Corporate & Commercial Banking
BMO Financial Group names Darrel Hackett as new US CEO
Hackett was most recently president of BMO’s wealth management division in the US.
SocGen digital asset arm unveils Euro-pegged Ethereum stablecoin
The stablecoin is designed to bridge the gap between traditional capital markets and the digital asset ecosystem.
Liberty Bank launches Owners Bank for small businesses in the US
Owners Bank offers checking and savings accounts as well as digital tools for small businesses.
Capital Bank taps Finastra for corporate digital banking platform
The corporate digital banking platform unifies trade, supply chain finance, lending and treasury services.
FDIC looks to sell SVB and Signature Bank securities portfolios
The FDIC says the two portfolios are worth around $27 billion (Signature Bank) and $87 billion (SVB).
Lloyds Bank partners Enigio to boost trade finance digitisation
Enigio’s solution creates digital documents that can be used where an ‘original’ document is required.
Dutch heavyweight ING taps Salt Edge for SME open banking solutions
The partnership will see use cases developed for SME segments from various industries.
FinTech Futures: Top five stories of the week – 31 March 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Saudi EXIM Bank goes live on Temenos core
The implementation process and the go-live took place over six months, both firms say.
Finalists announced for Banking Tech Awards USA 2023
The shortlist for the Banking Tech Awards USA 2023 has been announced.
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.
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.
