Sweden’s SEB selects Blacksmith KYC to automate corporate client data collection
Blacksmith claims to have specifically tailored the platform for SEB following a year-long pilot project.
Corporate & Commercial Banking
Fexco hires ex-JP Morgan Payments director Sara Savidge as CEO of corporate payments
Savidge previously served in several high profile roles at JP Morgan Payments, most recently as managing director.
Scottish challenger Alba Bank taps nCino to power SME lending
The SME-focused challenger landed its UK banking licence with the FCA and PRA in March.
Advent International snaps up UK paytech myPOS
The deal will be completed through Advent’s new payments company, AI Circle Bidco.
Commerzbank becomes first German bank to receive crypto custody licence
With the new licence, Commerzbank aims to build up a range of digital asset services, with a focus on crypto assets.
Customers Bank taps Funding Circle for Lending-as-a-Service platform
The bank says the platform will enable it to deliver “affordable term loans” directly to its SMB customers.
Saudi Awwal Bank taps Mastercard to fight financial crime with AI
The bank is adopting Mastercard’s transaction risk management technology to tackle payment fraud.
OakNorth taps Coconut founder Sam O’Connor to lead business banking unit
O’Connor joined the bank five months ago following GoSimpleTax’s acquisition of Coconut.
The Bank of London names Frankie Woodhead as new chief product officer
Woodhead joins from 10x Banking, where he worked for over five years following a decade-long stint at Barclays.
Aussie SME lender Earlypay acquires Timelio’s $40m loan portfolio and assets
The portfolio comprises $35 million in invoice finance and a further $5 million in trade finance.
Kentucky-based credit union Park Community names Jana Erny as president and CEO
Erny succeeds outgoing president and CEO Jim Spradlin, who is retiring after 29 years at the credit union.
Qatar’s CQUR Bank partners Finastra to power new online corporate banking portal
The bank’s new portal will service its corporate clients with digital workflows and host-to-host integration solutions.
Atom Bank on track for balance sheet growth following £100m equity raise
The bank’s “long-term” shareholders, BBVA, Toscafund and Infinity Investment Partners, participated in the raise.
Deutsche Bank plans to cut Postbank branch network by nearly half
The bank is reportedly planning to close around 250 of its 550 Postbank branches within the next three years.
Kasikorn Bank snaps up 97% stake in cryptocurrency exchange Satang for $103m
Satang Corporation is to be rebranded as Orbix Trade Company with three new subsidiaries.
LSEG ditches legacy finance systems for Oracle Cloud
The group aims to make use of Oracle’s enterprise performance management and planning functions.
National Australia Bank partners Greener to reduce small business climate emissions
Greener’s business solution was launched earlier this month following its seed funding round.
Al Rayan Bank goes live with Confirmation of Payee solution from obconnect
The PRA directed the bank last year to instate a CoP system by 31 October 2023.
How the UK’s FCA is set to scrutinise banks’ treatment of PEPs with new review
Dr Henry Balani of Encompass Corporation discusses the impact of the review on the UK banking system.
Citi taps Navan to launch travel and expense system for commercial clients
The new system will initially only be available to US-based commercial clients.
US regional bank United Community partners Allied Payment Network for real-time payments
The South Carolina-based bank is to integrate Allied’s RTP solutions into its Q2 digital banking platform.
Vietnam’s LPBank selects Temenos for core banking upgrade
Temenos has been gaining a foothold in Vietnam, with 24 other Vietnamese banks now running on the firm’s platform.
National Bank of Greece deploys Infosys Finacle core banking system
The deployment forms part of the bank’s core banking replacement project ‘Cosmos’.
Australia’s Bendigo and Adelaide Bank migrates digital banking system to Google Cloud
The bank intends to migrate at least half of its business operations to the cloud by 2024.
Ally Financial CEO Jeffrey Brown to step down
Brown is due to depart the Michigan-based online bank on 31 January 2024.
Finland’s Aktia Bank goes live with Temenos Payments Hub
The bank first began working with Temenos six years ago, when it adopted its T24 core banking system.
Yemen’s Tadhamon Bank upgrades to latest version of Azentio’s iMAL core banking platform
The bank has been running on iMAL since 2010.
Japan’s 77 Bank taps Fujitsu to launch in-store banking tablets
The in-store tablets are backed by Fujitsu’s customer engagement solution Chordship.
Can banks connect the dots in their pursuit of sustainability?
As ESG transitions towards a matter of law and compliance, a lack of focus could have very serious consequences.
GreenSky sold to Sixth Street-led investor consortium, Goldman Sachs confirms
The consortium consists of funds and accounts managed by KKR, Bayview Asset Management and CardWorks.
Republic Bank of Arizona taps Biz2X for business lending platform
The bank wants to “make it easy for Arizona businesses to get the capital they require for growth”.
Lloyds backs Sonovate securitisation increase to £240m
The increase builds upon a £165 million deal made with BNP Paribas and M&G Investments in July.
India’s IDBI Bank names Nehal Shah as new deputy chief technology officer
Shah will be responsible for the bank’s IT security and digital channels across various functions.
US-based Honor Bank goes live on nCino’s commercial banking platform
nCino says that Honor Bank was able to implement its solution and go live in “just six months”.
Peel Hunt appoints Piya Khanna as new chief technology officer
Khanna will replace Aaqib Mirza, who is set to lead Peel Hunt’s soon-to-be-launched RetailBook business.
Banking Tech Awards USA 2024 nominations are now open!
Nominations for the Banking Tech Awards USA 2024 are open until 9 February.
Lloyds Bank launches Paperless Guarantee solution to digitise trade finance
The solution seeks to support businesses with the digital issuance of bank guarantees.
Investree to launch Qatar lendtech hub following $231m Series D
The round also saw participation from existing investor SBI Holdings, and succeeds the platform’s $23.5m Series C.
Banc of California joins Rise Economy for $4.1bn community benefits plan
The plan succeeds the bank’s merger with PacWest Bancorp in July, combining assets valued at $36.1 billion.
UK fintech ieDigital acquires CUSO Connect FSS to tap US market
The two companies will become part of the new ieDigital Group, but will, at this time, retain their separate brands in their respective markets
