Multiple UK banks reporting outages… again
Can’t shake the sense of déjà vu? Customers of Lloyds, TSB, Halifax and Bank of Scotland will know the feeling, after receiving more reports of outages.
Financial Services/Finserv
Microsoft warns of multicloud risk
Some enterprises worry about giving all their public cloud business to one provider and getting locked in. But multicloud has its own risks, says Microsoft Azure chief technology officer Mark Russinovich. Enterprise Cloud News (Banking Technology’s sister publication) reports that enterprises pursue a multicloud strategy to help negotiate a better pricing, among other reasons. But […]
Finastra Universe London 2017: open banking and the rise of AI
Finastra has revealed its focus on the open innovation of smart technologies in banking, alongside artificial intelligence (AI), machine learning/deep learning.
Investec Bank to use iMeta for client data management
Investec Bank has selected iMeta’s client lifecycle management (CLM) platform to help with the automation and streamlining of data management processes. The platform consists of know your customer (KYC) support; credit and legal help (such as with MiFID II); and standing settlement instruction (SSI) for data management processes to provide a centralised hub of reference […]
TrueAccord lands $22m to humanise debt collection
Online debt collection service TrueAccord has received $22 million in funding – bringing its total amount to almost $34.5 million, reports Julie Muhn at Finovate (Banking Technology’s sister company). Leading the round was Arbor Ventures. A mix of existing and new investors, including Arbor, Nyca Investment Partnership, Assurant Growth Investing, Caffeinated Capital Fund, Felicis Venture, TenOneTen and Crystal […]
Amazon selling part of China cloud business for $300m
Amazon is selling off a portion of its cloud computing business in China to a local partner, but the company still plans to compete in what is a growing market for cloud-based services and infrastructure, reports Enterprise Cloud News (Banking Technology’s sister publication). Beijing Sinnet Technology will buy a portion of Amazon’s cloud business for […]
Ex-Googlers have LightStep for hybrid app performance
LightStep, founded by ex-Googlers, has come out of stealth to introduce its first product, for application performance management in environments combining microservices with legacy apps, reports Enterprise Cloud News (Banking Technology’s sister publication). Called LightStep [x]PM, it provides application performance management that operates across all application components, including web and mobile clients, monolithic applications and […]
The Clearing House makes history with new US payments system
The Clearing House (TCH) has launched its 24×7 real-time payments (RTP) system, the first new core payments infrastructure in the US in more than 40 years. RTP was designed and built through the “collaborative effort” of TCH’s 25 owner banks and meets the objectives of the Federal Reserve Faster Payments Task Force. RTP is open […]
When are we going to look at the human cost of AI?
Another week has passed, and another piece of research has emerged about the potential of artificial intelligence (AI), but the human cost is starting to become a very big elephant, reports Telecoms.com (Banking Technology‘s sister publication). The research itself is from SAS and highlights businesses are becoming normalised to the idea of AI. The concept […]
Cisco creates $1bn financing programme for smart cities
Cisco is looking to expand its presence in the smart city and internet of things (IoT) markets with a $1 billion financing program that will allow communities to make investments in their infrastructure with the vendor’s financial backing, reports Enterprise Cloud News (Banking Technology’s sister publication). The City Infrastructure Financing Acceleration Programme also has backing […]
Standard Chartered unveils chatty banking chatbot
Standard Chartered plans to deploy a chatbot on its online and mobile banking platforms powered by Kasisto’s conversational artificial intelligence (AI) platform, KAI Banking. The chatbot will act as a virtual personal assistant to help clients manage money, make payments and analyse their spending, via conversations in English and other unnamed languages. The service will […]
China overtakes US in latest top 500 supercomputer list
The release of the semiannual Top 500 Supercomputer List is a chance to gauge the who’s who of countries that are pushing the boundaries of high performance computing (HPC). The most recent list shows that China is now in a class by itself, reports Enterprise Cloud News (Banking Technology’s sister publication). China now claims 202 […]
Dell makes machine learning road-ready
While Oracle, IBM and others are pushing machine learning in the cloud, many enterprises see advantages to keeping IT infrastructure in-house. Dell is looking to fill that desire with a line of hardware servers and services for machine learning for the enterprise, reports Enterprise Cloud News (Banking Technology’s sister publication). Dell Machine and Deep Learning […]
Blockchain and Bitcoin round-up: 14 November 2017
Hot on the heels of yesterday’s (13 November) action, here’s our latest blockchain and Bitcoin round-up. Featuring Bitcoin Gold, OTC Exchange Network, Deloitte and Github. Bitcoin Gold (BTG), the newest fork of the Bitcoin blockchain, has officially gone live. It’s not the first to breakaway from Bitcoin, as previously in August, Bitcoin Cash (BCC) launched. […]
Rackspace and HPE offering OpenStack as private cloud service
With most of the chatter in the cloud computing market focused on the big public cloud providers, it’s easy to forget that private cloud is a viable option for many larger enterprises. Now, Rackspace and Hewlett Packard Enterprise (HPE) are looking to change that, reports Enterprise Cloud News (Banking Technology’s sister publication). The two companies […]
Orange Bank goes live with Backbase banking platform
France’s latest mobile-only bank, Orange Bank, has gone live on Backbase’s Omnichannel Banking Platform. Backbase says Orange is the only French bank to offer for free a service that provides real-time balances, mobile payments and a virtual adviser that is available 24 hours a day, seven days a week. Orange Bank was finally launched on […]
Barclays in Flux for instant digital receipts
Barclays is trialling itemised digital receipts to its customers via a partnership with start-up Flux, a rewards and receipt platform. The upcoming trial will take place with around 10,000 users of the Barclays Launchpad app, its platform for testing new features with “real customers to learn more about how best to meet their needs”. Matty […]
Fintech funding round-up: 10 November 2017
Just when you thought there couldn’t be more following yesterday’s (9 November), Wednesday’s (8 November) and Tuesday’s (7 November) fintech funding round-ups, here’s more news action. Featuring Crux, Accern and Blume Ventures.
A CIO ‘Renaissance’ needs the cloud
For several years, it appeared the role of the CIO had been eclipsed by others – CMO, CFO, chief digital officer – who looked to claim a greater role and say over what information technologies their enterprises would invest in, reports Enterprise Cloud News (Banking Technology‘s sister publication). It’s not so much over what specific […]
The UK Robo-Advice Innovation Forum: key takeaways
Distilling some of the debates and discussions and showing how robo-advice is changing wealth management and indeed impacting the banking sector.
Canada’s Competition Bureau calls for fintech feedback
The Competition Bureau in Canada is seeking feedback on the nation’s financial services and fintech sector. Like many other regulators around the world, the bureau has published a draft report on its market study concerning technology‑led innovation. John Pecman, commissioner of competition at the Competition Bureau, says: “The future is now. Let’s get it right […]
Banking Technology November 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.
Microsoft looks to secure clouds with Project Cerberus
Microsoft is looking to make cloud infrastructure safer at the hardware level with a new offering called “Project Cerberus,” which is the company’s latest contribution to the Open Compute Project (OCP), reports Enterprise Cloud News (Banking Technology‘s sister publication). Company engineers unveiled Cerberus at Zettastructure, the European digital infrastructure conference, which is taking place this […]
BNP Paribas to handle Janus Henderson’s back office
Janus Henderson Investors has chosen BNP Paribas Securities Services to assume responsibility for most of its back office; fund administration and fund accounting, middle office and custody functions in the US.
Africa can learn from the South American mistakes
Africa is firmly in last place when it comes to the development of the digital society, unless you count the Antarctic, but looking towards the failures of other emerging markets might help things along, reports Telecoms.com (Banking Technology‘s sister publication). First of all you have to address the hurdles which Africa is facing. Firstly, the […]
Over-regulation and career politicians could spell disaster for tech
Government intervention has been a hot topic all week at AfricaCom, and it doesn’t seem like there is going to be a resolution to the problem anytime soon, reports Telecoms.com (Banking Technology‘s sister publication). Of course there will always be a need to regulate any industry; commercial entities should not be left by themselves, they […]
Bank of England launches youthful cybersecurity challenge
The Bank of England (BoE) has unleashed a cybersecurity challenge for the young at heart as it seeks to maintain monetary and financial stability. It cites recent cyberattacks on high-profile systems and organisations such as the Bank of Bangladesh as something to be wary of. To that end, it’s calling for people to: “Think big. […]
Mobey Day Barcelona: disruption, money and forward thinking
This year’s Mobey Day continues with the consistent collaboration between banks, start-ups and fintechs. Focusing on the development of technology during a time of disruption, the biggest players drew attention to leading in future challenges and trends.
China Everbright Bank selects Wolters Kluwer’s OneSumX for regulatory reporting
China Everbright Bank (CEB) has chosen Wolters Kluwer’s OneSumX regulatory reporting software for its operations in Luxembourg. According to Wolters Kluwer, OneSumX uses a single source of data to ensure consistency, reconciliation and accuracy and includes the firm’s regulatory update service. This service is maintained by its staff who monitor regulation in approximately 50 countries, […]
Payments round-up: 7 November 2017
A distinctly European feel in our latest payments round-up. Stars Facebook Messenger, the UK’s Payment Systems Regulator, Concardis and AliPay. The UK will be the first country outside the US to get the Facebook Messenger payments service. Messenger was launched in the US in 2015 and lets people transfer cash during any conversation within the […]
AMX selects InvestCloud to power exchange solution
The Asset Management Exchange (AMX) has selected US-based InvestCloud to build a bespoke digital solution for its client base of asset owners and asset managers. The digital interface will let clients access and monitor some $2 billion of investments already on the exchange. Established by advisory firm Willis Towers Watson earlier this year, AMX is […]
Sunlight Payments to “revolutionise” distribution for global philanthropic sector
Sunlight Payments, a US-based paytech start-up, says it has “successfully tested a new platform to enhance controls and accountability for philanthropic funding and grants”. The test was carried out with Pathfinder International, a women’s reproductive health non-governmental organisation (NGO) that works in 19 countries.
Starling Bank bolts to Yolt money app
Yolt, the money app backed by ING, has integrated with its first digital challenger bank, Starling Bank. Yolt says its aggregation functionality now enables Yolt users to view their Starling Bank account details and transactions alongside their other bank accounts, together in one place. Since launching in June 2017, Yolt states that its users have […]
Deutsche Bank goes live with Swift’s gpi
Deutsche Bank has gone live on Swift’s global payments innovation (gpi) EUR services as it looks to increase transparency and speed in cross-border payments. Swift’s gpi offers real-time tracking of payments and same day use of funds for corporate clients. Deutsche Bank says it is one of the first banks globally to go live via […]
Salesforce doubling down on AI
A little over a year ago, Salesforce introduced Einstein, making a huge bet that artificial intelligence (AI) would play a major role in the future of information technology. Now, the CRM giant is doubling down on that bet, reports Enterprise Cloud News (Banking Technology’s sister publication). At the start of its annual Dreamforce conference in […]
OCBC Bank first in Singapore to launch face ID recognition for mobile app
OCBC Bank’s retail and business banking customers can now log into the bank’s app via a selfie, if they use Apple iPhone X. The bank says it’s the first in Singapore to offer such biometric tech.
Mastercard, Bank Asia and a2i team for financial inclusion in Bangladesh
Access to Information (a2i, an innovation lab supported by the Bangladeshi government), Bank Asia and Mastercard have signed a tripartite memorandum of understanding (MoU) to facilitate financial inclusion in Bangladesh by making digital payment services accessible countrywide through the Union Digital Centres (UDCs).
Wells Fargo unveils Greenhouse effect with money management app
Wells Fargo has unleashed Greenhouse, a new standalone mobile banking app to help consumers manage their money and know where they stand financially. The app combines personal finance management (PFM) tools with Wells Fargo banking, offering “personalised” insights through artificial intelligence (AI). The bank says Greenhouse will be available in a limited, national pilot in […]
Cisco: we’ll put IT back in charge
Cisco and its partners want to put IT back in charge of their enterprise technology infrastructure, reports Enterprise Cloud News (Banking Technology’s sister publication). Years of deploying technology in multiple locations have left enterprise IT with cloud sprawl, workloads spread over multiple public, private and hybrid clouds. By applying the right technology and business services, […]
Bank of Thailand selects SimCorp Dimension for investment management
Thailand’s central bank, Bank of Thailand, has selected SimCorp Dimension as its new investment management platform to support reserve management and monetary policy operations of its $226 billion reserves.
