Germany-based subsidiary of Turkey’s banking group, Isbank, has migrated to a new core banking system, Avaloq Banking Suite. The system supplier, Avaloq, is known as a private banking and wealth management specialist, but the Isbank project is the first for the vendor in the retail/corporate banking space outside its home market of Switzerland. Isbank selected […]
Temenos is going all out in its plans to grow its US market share with a top 25 bank expected to implement the T24 core banking system soon. About 1,200 delegates were at the Temenos Community Forum 2016, held at the Palau De Congressos, in Barcelona from 17-19 May. The event enabled vendors, potential vendors, […]
Vietnam’s mid-tier banking player, Vietnam Prosperity Bank (VPBank), has implemented a new digital solution, SAP’s Omnichannel Digital Platform. Omnichannel Digital Platform stems from the Sybase 360 product that came SAP’s way with the acquisition of Sybase in 2010. The new solution was deployed in one year at VPBank, with online and mobile components for retail […]
Digital disruption has made its mark, changing how consumers interact with and consume banking services. For banks there is no way back from digital. A new landscape has been forged and they must find their place within this new operating environment. Ever evolving consumer needs, the curse of legacy systems, the relentless march of fintechs […]
Bangkok Bank has launched new mobile banking functionality, based on Fiserv’s Mobiliti Edge mobile banking and payments platform. The bank’s mobile solution is known as Bualuang mBanking. It enables Bangkok Bank’s customers to access financial services via a mobile phone, tablet or the Apple Watch. Fiserv and Bangkok Bank have been working together for a […]
Unisys, Sandstone Technology and Payment Card Technologies (PCT) are bringing to market a new digital banking solution. The solution, called USP, will consist of the “best of breed” products from each vendor, all “seamlessly” integrated. USP is aimed at new market entrants and established players. The participating vendors describe it as “cost-effective”. It will support […]
Android Pay is now available in the UK, and more countries are on the way. Banking Technology first reported on this initiative in March this year. UK consumers can now pay for goods and services with their Android smartphones. Retailers like Boots, Waitrose and Starbucks are already onboard, and so is Transport for London (underground, […]
UK-based investment company Standard Life and ING’s Australian subsidiary are working with IBM on a range of digital and data management initiatives. Standard Life: it’s personal Standard Life is personalising its financial services capabilities “to each of its 3.8 million UK customers”, IBM states. Using IBM’s analytics tools Standard Life “can accurately track a person’s […]
Russia’s banking giant, Sberbank, has unveiled a new digital product, Sberbank Messenger – a communication platform for users to interact with friends and colleagues as well as with services providers, shops and businesses. It can be a person-to-person communication or by using artificial intelligence (AI) applications. The solution will be in beta testing later this […]
Art Gillis, a seasoned banking technology consultant (working in the computer industry since 1958 – and listed as a top 25 tech consultant by the American Banker) and author, pulls no punches in this opinion piece. Digital technology evangelists, read it at your peril. The past 50 years I have known only three bank CEOs who […]
UBS Wealth Management Americas (WMA) and tech company SigFig has formed a “strategic alliance” to develop digital technology for UBS WMA, its financial advisors and their clients. San Francisco-based SigFig specialises in wealth management software. It will create and customise digital tools and services for UBS WMA’s 7,000 advisors. UBS WMA’s remit is domestic US and […]
Australia-based financial services group, MyState, is gearing up to launch a new digital banking system, provided by domestic vendor Rubik Financial. The new solution is set to go live in August and promises to transform MyState’s digital channels and customer experience, according to Rubik. It will provide “superior digital experience” to customers, the vendor says, […]
HSBC is to cut 850 information technology jobs in the UK today (16 May), the first stage of its restructuring plan that will see 8,000 British jobs terminated by the end of 2017. The employees are based in London, Sheffield, Leeds and Birmingham and all the jobs will disappear by the end of this year, […]
With so many new banks trying to muscle into the UK banking sector, spurred on by the reduced barriers to entry and calls for competition, Banking Technology wonders: will this boom be followed by a bust? In the meantime, make hay whilst the sun shines! Here is our guide to who’s who in the UK […]
Banking giant Barclays has announced the launch of its own mobile contactless on Android, and confirmed it will not be joining Android Pay, reports Tim Skinner at Telecoms.com. The bank has been one of the UK’s more innovative financial institutions harnessing mobile payments, and specifically the integration of payment technology into wearable or alternative devices. […]
Telefónica Germany, in association with Fidor Bank, will be launching its mobile banking offering, “O2 Banking”, in Germany in late summer 2016. Matthias Kröner, CEO of Fidor Bank, says the collaboration offers “the best of two digital worlds”. Namely, banking services via a mobile app and additional services from an O2 mobile contract. Fidor says […]
Royal Bank of Scotland (RBS) is planning to cut around 200 more jobs at its UK retail bank, according to sources close to the development. The latest round of job cuts follows the announcement last month that 600 jobs were to go in the UK. Rob MacGregor, national officer at the Unite trade union, says: […]
Swift has rejected the allegations made by Bangladesh Bank and Bangladesh Police’s Criminal Investigation Department (CID) officials to Reuters about the cyber fraud scandal in February. A few months ago, hackers stole more than $100 million from the country’s foreign currency reserves. In the ensuing furore, the head of Bangladesh’s central bank, Atiur Rahman, resigned; […]
The European Banking Federation (EBF), the Global Financial Markets Association (GFMA) and the International Swaps and Derivatives Association (ISDA) are planning global policy measures on cybersecurity, data and technology through a new set of common principles. In its paper, “International Cybersecurity, Data and Technology Principles”, the organisations want to create a “starting point for dialogue […]
Dutch bank ING has revealed it’s working with 45 fintech start-ups on banking innovation, such as money management, payments, lending and mobile on-boarding. Ralph Hamers, CEO of ING Group, says of the 45 fintech firms, these include seven start-ups working on their proof-of-concept through the ING Fintech Village initiative in Belgium, and four through the […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Atom Bank adds another system to its tech set-up; readies mobile app Bank has just launched, but already has problems. Monitise looks to be profitable in H2 2016 But did it grow too big too fast? EFG and BSI […]
UK challenger bank, Atom Bank, has added another solution to its burgeoning IT architecture. This is a lending system from domestic specialist provider Phoebus Software, Banking Technology understands. The bank has just launched, but is yet to launch a fully-fledged mobile app. The app is yet to be available on Android. Meanwhile, the iOS app […]
UK-based payments vendor Monitise seeks to turn its fortunes around with a new digital payments offering, new COO and a new, re-focused business structure. Banking Technology investigates. Choppy waters The mobile payments vendor has had a difficult few years, partly attributed to growing too big too fast. By 2014, it had to write off £128.5 […]
Did you know that in the Netherlands 54% of all transactions are carried out using the iDEAL online banking system? Or that Germans prefer to pay on account via direct debit and the popularity of e-wallets is growing in Russia? ‘The world of e-commerce’ reveals the three most popular e-commerce payment methods across 22 countries […]
Finca Bank Georgia, an affiliate of Finca International, a global microfinance organisation, is looking to modernise its online and mobile banking systems. The bank has recently issued a tender to find a new provider and software. Banking Technology understands that the selection is in its final stages at present, with contract negotiations underway. Once the […]
Cambodia-based ABA Bank is looking for a new omnichannel banking solution and has issued a request for proposal (RFP). Interested parties should be able to offer “an integrated, multichannel platform” that supports internet and mobile banking for retail and corporate business lines. Current set-up At present, ABA Bank has two separate portals for corporate and […]
Barclays’ business banking service, Barclays.net, decided it would also take time off during the three-day Bank Holiday weekend in the UK. The system suffered intermittent outages from 29 April until today (3 May), and there were numerous complaints on Twitter from angry users. The impact on customers ranged from trying to pay staff or facing […]
UK-based Yorkshire Bank and Clydesdale Bank – which together form CYBG – have launched a new digital banking platform, as CYBG gets ready to become a standalone challenger bank. The new platform is called “B” and CYBG teamed up with proposition design consultancy Market Gravity to design and launch the new service. Debbie Crosbie, COO […]
C Hoare & Co, Britain’s oldest bank (and the fourth oldest in the world), is modernising its front-end operations with Backbase, a specialist provider of omnichannel banking software. London-based C Hoare was founded in 1672 by Sir Richard Hoare and remains family-owned and run today. It focuses on private banking and investment management. It employs around […]
Banking software vendor Avaloq has reported a “record” financial year in 2015 with a turnover of almost CHF 500 million ($518 million). The Swiss vendor says it has won 11 new customers, and is now working with 450 banks and wealth managers worldwide. New customers include China CITIC Bank International; Crestone, the former wealth management […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Bank of Ireland ponders major IT overhaul Irish eyes are smiling… or at least weighing up their options. MSB and FDH Bank to merge on Temenos’ T24 core system The die has been cast. Neptune’s Rubikon crossed out. […]
A new mobile banking service in Denmark, Lunar Way, is gearing up for launch as it has secured a local partner, Københavns Andelskasse (Copenhagen Cooperative Bank). Lunar Way is itself not a bank, but is a provider of digital financial services, similar to Simple or Moven. Its model is to partner with established banks (that have […]
Kasikornbank (Kbank), one of the largest banks in Thailand, says it is to spend THB 5 billion ($142 million) per year in a digital banking transformation project. Kbank, the country’s fourth-largest lender by assets (THB 2.5 trillion/$71 billion), says it has the largest share of the digital banking market with 38%. It is now looking […]
Infosys Finacle and software firm Onegini are partnering to integrate Onegini’s mobile security platform with Finacle banking solutions. Using this solution, Infosys says banks can offer customers an option to select “advanced” authentication methods, including fingerprint, facial, eye and voice recognition as well as multi-factor authentication for “added security” as they transact on devices. The […]
Mobile point-of-sale (mPOS) is revolutionising the POS terminal industry. In two years, the market is estimated to be worth $43 billion. By 2019, 46% of all POS terminals in 2019 are expected to be mPOS. Over the next four years, the market is poised to grow by 400%. This nifty infographics – courtesy of FIME – […]
Misys today is launching Misys FinCloud, a range of cloud solutions and “global cloud environment” for its clients. It is supported by “selected global and local infrastructure providers, systems integrators and solution partners”, including Rackspace and NTT Communications, Misys says. With Misys FinCloud “clients gain faster access to innovation through shorter and more predictable on-boarding […]
UK-based challenger bank Mondo is on a recruitment drive to find senior executives. Mondo, which positions itself as a “mobile first” bank, will be offering a contactless debit card paired with a mobile banking app to its customers. As part of this ambition to end the “tyranny of legacy banks” it is advertising for two […]
Morgan Stanley has brought blockchain back to earth, calling it a “double-edged sword” because while it helps banks reduce clutter, profits could fall or shift to new players. In its 31-page report, “Global Insight: Blockchain in Banking: Disruptive Threat or Tool?”, the company predicts blockchain’s “widespread potential to disrupt financial intermediaries” but says there are […]
Biometric security in the financial services sector has finally reached the tipping point many have been anticipating since Apple launched its fingerprint recognition technology one whole iPhone generation ago. We recently saw the first of the major banks to announce that both fingerprint and voice recognition technology will be viable account login options for millions […]
Orange has made a significant stride in mobile banking by acquiring a majority stake in financial services firm Groupama, reports Tim Skinner at Telecoms.com. The French mobile operator has confirmed it has acquired 65% of Groupama shares, will be launching a 100% mobile banking service in early 2017. By acquiring Groupama, Orange will be gaining an extensive […]
