Fintech outside London – part 3
Our tour of the UK fintech scene concludes in this third instalment of the report. We started from the south of the country, then travelled west and are now travelling through the northern England and Scotland.
Digital
Why getting ready for real-time is a priority for Rabobank
When it comes to payments, the Netherlands, like its Scandinavian neighbours, is certainly one of the most advanced countries in the world. Banks and retailers have been working together for many years in an effort to decrease the amount of cash in circulation, working instead towards a “cleaner” and “safer” cashless environment.
USAA invests in AI tech vendor CognitiveScale, implements its products
USAA, a banking and insurance provider that focuses on the US military personnel and their families, has made a “strategic investment” in machine intelligence software vendor CognitiveScale.
Avaloq Community Conference 2017: not trapped in a geography
Avaloq has hit back at Temenos’ claims that it is “trapped in a relatively small geography” by pointing to its revenue rise and innovation drive as reasons for something to be cheerful about.
Surety Bank to swap legacy core banking system for Nymbus’ SmartCore
Florida-based Surety Bank is embarking on a core banking software overhaul with Nymbus. The bank will implement Nymbus’ flagship SmartCore system. The solution will be delivered in a private cloud.
Vontobel in digital banking transformation with Appian
Appian, a US-based provider of low-code application platform, says it has been enlisted by Vontobel Bank “to execute its digital transformation strategy across all business divisions”.
Avaloq Community Conference 2017: embracing blockchain and Bitcoin innovation
Swiss core banking software vendor Avaloq is prepared to tap into the potential of blockchain and Bitcoin over the next 12 months as it seeks to experiment and innovate more in these areas.
Fiserv sets sights on mobile payments tech vendor Monitise
US tech giant Fiserv has offered to buy Monitise, a UK-based mobile payments software and solutions provider. The cash offer to acquire is at 2.90 pence per share – valuing Monitise at approximately £70 million.
Zelle P2P payments network onboards new members
More banks and credit unions have joined Zelle Network, a new peer-to-peer payments platform in the US.
Calastone completes first phase of blockchain project
Global funds transaction network Calastone says it has “successfully” completed the first phase of its blockchain distributed market infrastructure proof-of-concept (PoC).
Redwood Credit Union launches mobile P2P payment service
California-based Redwood Credit Union (RCU) has launched a new mobile peer-to-peer payment solution, RCUPay. “RCU ends the IOU,” the credit union states.
Case study: Amsterdam Trade Bank – Amster-can
A bank-wide replacement of its main business applications is ambitious enough but it is just the starting point for Amsterdam Trade Bank (ATB), as it seeks to harness new technologies, adopt a new culture and digitise its business.
Softbank continues spending spree, grabbing smart robotics firm from Google
Japanese tech conglomerate SoftBank continued its drive to take centre stage in the evolution of the tech industry with the acquisition of Boston Dynamics from Google/Alphabet. Telecoms.com (Banking Technology‘s sister publication) reports that Boston Dynamics has been a fairly high profile robotics pioneer in recent years, specialising in humanoid and quadrupedal machines apparently designed to […]
The age of face-to-face conversation is pretty much over
It wouldn’t quite be June if we didn’t have rain or Cisco’s annual visual networking index (VNI) forecast. We’ve had plenty of rain, now it’s time to tuck into some stats! Telecoms.com (Banking Technology‘s sister publication) reports that you probably didn’t need us to tell you, but internet traffic is going to grow. The total […]
Top fintech stories this week – 9 June 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Build your own app with TCS Bancs kit
Tata Consultancy Services (TCS) has unveiled its Bancs app development kit (ADK) to let banks design and build their own apps. The firm says the ADK enables financial institutions to build their digital offerings without the need for mobile development skills. The ADK comes with its own array of widgets, controls and components; and the […]
Mizuho goes open banking on IBM cloud
Mizuho Bank has opted for a suite of IBM services to power its open banking ambitions in Japan. The bank will use IBM’s FinTech API solution, API Connect on the IBM Cloud and IBM DataPower Gateway. The shift to API banking is a common theme for many in fintech at present. According to IBM, the […]
Australia Post taps i2c for digital payments push
Australia Post is partnering with processor i2c Inc. to “expand and modernize” its digital payments offerings. Under the pact, the Australian postal service will use i2c’s Agile Processing platform to roll out enhanced digital functionality for its payments products, including the Load&Go GPR Visa card, along with gift, multicurrency travel and corporate incentive cards. The i2c platform also will underpin future financial services products from Australia Post.
Concardis brings Alipay to Austria and Switzerland
German payment service provider Concardis is bringing Chinese mobile payment solution Alipay to Austria and Switzerland. Clothing brand Gössl will be the first merchant in Austria to let Chinese citizens pay via smartphone and the Alipay app. The roll-out in the Swiss market is planned for October this year. In Germany, Concardis says it has […]
Bankjoy scores digital banking tech deal with SafeAmerica Credit Union
California-based SafeAmerica Credit Union is building a new omnichannel banking platform with fintech start-up Bankjoy.
SunTec system fits the bill for Amex business travel
American Express Global Business Travel (GBT) has opted for SunTec’s Xelerate billing system for its corporate clients. According to SunTec, its platform can onboard new geographic regions and “weaves data locked in various legacy and modern billing systems” to create relevant offers for American Express GBT’s corporate clients. Michael Konstas, VP of billing strategy at […]
Maybank launches fintech sandbox
Malaysia’s largest bank, Maybank, has unveiled its fintech sandbox to let ASEAN start-ups develop and test new ideas. As the “first in ASEAN”, the Maybank FinTech Sandbox offers a place “free of charge” to help developers throughout the region. The bank is keen to tap into ideas around cloud, the internet of things (IoT) and […]
SBS Bank in major digital revamp with Sandstone Technology
New Zealand-based SBS Bank is rolling out a new “end-to-end” digital banking platform supplied by Sandstone Technology.
Local banking for global trading – an impossible goal?
Anders la Cour, CEO of ground-breaking payments utility Saxo Payments Banking Circle, which is underpinning the service propositions of a growing number of payments businesses, reports on the payment pain points currently faced by merchants who have ambitions to trade globally.
HSBC launches social network for business customers
HSBC Commercial Banking has launched its Connections Hub, a digital platform to connect buyers and sellers around the world. Businesses in Canada, China, Hong Kong, India, Mexico, Singapore, the UK and the US can sign up to the multi-lingual hub for free. The service will be available to customers in France in the coming weeks […]
Scale360 powers TPBank digital branch network in Vietnam
It’s another farewell to tradition as Vietnam’s TPBank has opted for Scale360’s “Digital Branch” network across the country. The digital option from Scale360, a UK-based fintech start-up with a development centre in Bangkok, replaces the usual brick-and-mortar branch with a video link. The bank plans to open 50 such branches across Vietnam. Branded as TPBank’s […]
Saving and investing service Moola launches
After 18 months of development, UK-based online saving and investing service Moola has launched. The firm says there are 5.4 million “mass affluent people in the UK who have no access to financial advice, but disposable income and a desire to save and invest”. It wants to tap into that market by doing the “hard […]
Apple squares up to rivals with Pay Cash feature
Apple has unveiled Pay Cash as it looks to fight it out with PayPal, Square and Venmo in the overcrowded peer-to-peer (P2P) payments market. In a range of updates to its mobile operating system, iOS 11, new features to the iPhone and iPad are coming this autumn. Apple Pay users will be able to make […]
New edtech project for financial services, CFTE, launches
The Centre for Finance, Technology and Entrepreneurship (CFTE), a new educational platform for the finance industry, has been unveiled. “In a tech world, we bet on people,” CFTE states.
Oracle taps into AI buzz to calm security fears
Oracle has announced a number of updates to its security portfolio focusing on leveraging the buzz surrounding machine learning, artificial intelligence (AI) and contextual awareness technologies.
CIBC launches free mobile credit scores in Canada
Canada’s banking group CIBC, fintech firm Borrowell and Equifax Canada have unveiled a free credit score for mobile banking users – a “first for a major Canadian Bank”. The credit score is accessed through the CIBC mobile banking app, and clients can get their Equifax credit score which will be updated quarterly, allowing them to […]
LG Electronics unleashes mobile payments in South Korea
Watch out Samsung Pay, but South Korean titan LG Electronics has unleashed its mobile payment service in the country. Called LG Pay, it will be offered first as a service that allows users to pay offline in the same way as a credit card. Its use is limited at the moment to Shinhan, KB, BC […]
Abcul perseveres with Model Credit Union project
The Association of British Credit Unions (Abcul) says it is making progress with its Model Credit Union initiative, to modernise the tech and operations of its members. Three credit unions are now live with new core and mobile banking software.
Infographics: how regtech savvy are you?
Banking Technology and BearingPoint conducted a survey to find out the industry view on regtech and its implications for all parties involved. The findings are now available in this nifty infographics.
UK payments firm Helixion is liquidated
It’s not only the end of the working week but the end of the line for Edinburgh-based payments firm Helixion. The company has gone into liquidation and intellectual property (IP) firm Metis Partners has been appointed to support the marketing and sale of its assets. On Metis’ website, it says the deadline for offers has […]
Misys scores another core banking system deal in Myanmar
Myanmar-based Ayeyarwady Bank (AYA Bank) has signed for Misys’ Fusionbanking Essence core banking platform.
Top fintech stories this week – 2 June 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Android Pay arrives in Taiwan
Android Pay has now launched in Taiwan and users can add an eligible Visa or Mastercard credit card from one of its supported banks, including CTBC and First Bank. It will have the usual rivals – Apple Pay arrived in Taiwan in March this year, while Samsung Pay was launched across the island nation just […]
ING’s Yolt money app beta launches in UK
With an intended jolt and volt of energy, Yolt, a new money platform backed by ING, has launched its open beta for iOS and Android in the UK. The app has been tested in closed beta since October last year, and is now ready to invite more people to the platform. Yolt enables users to […]
Banking Technology June 2017 issue out now
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
