To raise awareness about online and mobile banking and help customers use digital platforms, NatWest and Royal Bank of Scotland (RBS) say they aim to deploy a “TechXpert” at every branch in England, Scotland, and Wales. NatWest is part of the RBS group, and at 1,000 NatWest and 2,000 RBS branches, these experts will help […]
Mahindra Comviva has launched Payplus Aadhaar Pay, a merchant payment acceptance solution, as it targets the rural areas of India. The Aadhaar infrastructure, created by the Unique Identification Authority of India (UIDAI), onboards customers and provide them with online services. UIDAI collects the biometric and demographic data of residents, stores them in a centralised database, […]
ING and Société Générale have used blockchain to carry out a live oil trade between parties with Mercuria, the global commodity trading group. The platform, called “Easy Trading Connect”, is designed for paperless trading and aims to digitalise and standardise commodity transactions in order to “increase speed and efficiencies” in the trade process. The prototype […]
Plum, an artificial intelligence (AI) powered Facebook chatbot, has teamed with peer-to-peer investing platform RateSetter to encourage the UK to save more. Plum says its algorithm understands spending patterns, identifies income and bills and creates a unique profile for each one of its users. It calculates a small amount of money to save or invest […]
IBM and financial services firm Northern Trust have launched the “first commercial deployment” of blockchain for the private equity market. The blockchain is based on the Hyperledger Fabric and is available for use for managing the administration of a private equity fund managed by Unigestion, a Switzerland-based asset manager with $20 billion in assets under […]
TSB has chosen Iress’ mortgage sales and originations (MSO) solution – with the first deployment due to be rolled out to TSB’s intermediary channel in the summer. Branch, telephony and digital will follow in a phased rollout at unspecified times. Ian Ramsden, mortgages director, TSB, says Iress is a “natural fit to support our technology […]
Fintech zeitgeist! Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye. This week we welcome the views of Richard Stevenson, CEO, Red Box Recorders, on the future of banking. Real-time converge, capture and analyse! This […]
Standard Chartered China is partnering with Tencent Financial Technology Group (Tencent FiT) to launch a new e-commerce solution for corporates. The deal makes Standard Chartered the “first global bank to offer a one-stop online collection solution with WeChat Pay” and combines its cash management offering with the online payment gateway. The bank says it can […]
IBM has unveiled a large ecosystem initiative as it opens the doors of its new $200 million global headquarters for its Watson Internet of Things (IoT) business in Munich, Germany. BNP Paribas, Capgemini and Tech Mahindra are some of the firms who will place development teams at the IBM centre. Harriet Green, general manager, IBM […]
NatWest (part of the RBS group) is set to launch a new digital platform to allow small and medium sized businesses (SMEs) to quickly obtain unsecured loans of up to £150,000. Called Esme Loans, it is in trial mode and the bank will offer fast decisions on lending applications “potentially within an hour”. There will […]
The new National Cyber Security Centre (NCSC) has been unveiled in the UK – and will work with the Bank of England (BoE) to produce advice for the financial sector for managing cybersecurity effectively. The NCSC is based in London and part of the intelligence agency GCHQ (government communications headquarters). Ciaran Martin, formerly director general […]
You can read about fintech accelerators quickly with our latest round-up. Featuring RBS, BNP Paribas, Ben Franklin Technology Partners and the info on how to apply. Scotland has got its “first” fintech accelerator with the launch set for May. The new hub will be based in Royal Bank of Scotland’s (RBS) Entrepreneurial Spark business centre […]
The Monetary Authority of Singapore (MAS) has set up a new Data Analytics Group (DAG) with effect from 15 March 2017 as it looks to improve the financial sector and digital economy. DAG will use data analytics for insights, “enhance the supervision” of financial institutions, make regulatory compliance better for financial institutions, and improve work […]
2017 looks set to be the year in which a number of different jurisdictions vie to become the natural home of the financial technology sector. To help ensure that London remains fintech-friendly, the Financial Conduct Authority (FCA) has created the “regulatory sandbox”.
Santander has become the first bank in the UK to allow customers to make payments using their voice. As Banking Technology reported in March 2016, Santander said it was the “first” bank in the UK to launch voice banking technology. Phase one enabled customers to talk to their Santander SmartBank app and ask about their […]
Fintech zeitgeist! Welcome to our new series of brief reports. Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye. This week we welcome the views of our editor Tanya Andreasyan. Dear PR, we know you […]
Bob Wigley, the former chairman of the collapsed Yellow Pages, will be the chair of a new financial services trade association, which will bring together six member organisations across the UK. It hasn’t got a name yet, but the new moniker and brand “will be decided in due course” and launched in the summer. The […]
Standard Chartered has unveiled its Open Banking Application Programming Interface (API) Developer Portal for transaction banking. The launch is part of its “digitisation agenda” and to increase collaboration with corporates, fintech firms and developer communities. The portal will initially provide a repository of API services focused on cash management and then roll out other API […]
Accenture has unveiled a patent-pending solution for blockchain to integrate with industrial-grade security systems that support sectors including financial services. The solution creates an interface between emerging blockchain platforms and “widely used” hardware security technology. It uses Hyperledger Fabric; and Accenture worked with French firm Thales — whose hardware is used by banks to secure […]
UK challenger Metro Bank has accelerated a data project delivery, cutting provisioning time by 80%, following the deployment of the Delphix Data Virtualisation platform. The bank began working with California-based Delphix to enable it to deliver data to teams better. The idea was to integrate enterprise software into an existing IT stack. Delphix says its […]
IBM has launched a blockchain initiative for trade finance with telecom operator du, Dubai Customs, Dubai Trade, Emirates NBD and Banco Santander. The plan is to explore the use of logistics solutions for the import and re-export process of goods in and out of Dubai. Using Hyperledger Fabric and IBM Cloud, their blockchain solution transmits […]
BNP Paribas has unveiled a new 2017-2020 business development plan – building the bank of the future. €3 billion will be invested in the programme.
Private equity firm AnaCap Financial Partners will acquire a portfolio of Italian performing and non-performing corporate secured loans from Barclays. The portfolio, which has a gross book value of €177 million, comprises loans to primarily small and mid-sized corporates secured against real estate located mostly in the north of Italy. The agreement follows AnaCap’s Credit […]
Wells Fargo has signed an agreement with financial software firm Intuit to help customers import their bank account data to financial management tools such as QuickBooks Online, Mint and TurboTax Online, via their application programming interface (API). Data imported via these APIs is intended to help customers save time and avoid potential data-entry errors. Brett […]
Barclays is embarking on a major back office operations overhaul, with the creation of a standalone company, Barclays Services.
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
Citi’s institutional e-banking platform, CitiDirect BE, will now use MobilePASS which lets corporate users replace their physical login tokens with their personal mobile devices for authentication.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
The UK Competition and Markets Authority (CMA) says its banking “final order” is giving people greater control over their money and reckons the open banking revolution is getting closer. As Banking Technology reported in August, the CMA unveiled its plans to make banks “work harder for customers” and ensure the “benefits of new technology are […]
The future of commercial banking may well lie in being “curators”, according to Australia and New Zealand-based banking group, ANZ. In an interview with the Australian Financial Review, Mark Hand, managing director, corporate and commercial banking at ANZ says commercial bankers will “morph into ‘curators’ for their business clients by linking customers with reputable, external […]
India Post Payments Bank (IPPB) has launched and is rolling out pilot services in Raipur and Ranchi. IPPB is the third payments bank to be authorised in India, and follows on the heels of Paytm (launched last year) and Airtel (opened for business this year). IPPB’s chief executive officer, A P Singh, says: “The idea […]
US-based personal finance firm SoFi (Social Finance) has acquired mobile banking start-up Zenbanx as it looks to stretch out in the world of financial services. SoFi is paying about $100 million in stock for Zenbanx’s technology, according to Bloomberg and “a person familiar with the agreement”. Zenbanx offers a mobile account in the US and […]
Swiss-based Vontobel Asset Management has chosen SimCorp Coric to automate its client communications and fund reporting processes. Vontobel will deploy SimCorp Coric as a hosted solution via Microsoft Azure and the agreement will see the Coric solution replace in-house manual processes as well as an existing incumbent third-party solution. Stuart Keeler, managing director of SimCorp […]
Paybefore’s first-ever payments year-in-review report, sponsored by The Bancorp, is available now. Offering an in-depth look at key trends and the Top 10 payments stories from 2016 that will continue to shape the industry in 2017 and beyond, this must-have resource examines everything influencing the industry from the CFPB and Uber to Brexit and Trump and much more.
Autoriti Monetari Brunei Darussalam (AMBD), the central bank of Brunei, has partnered with regulatory fintech vendor, Vizor Software. AMBD will use Vizor’s solution to collect financial data from external entities via a single portal, to generate reports and insights. AMBD says this is a key step to building a sound and dynamic financial system. The […]
The UK’s Financial Conduct Authority (FCA) has fined Deutsche Bank £163 million for failing to maintain an adequate anti-money laundering (AML) control framework during the period between 1 January 2012 and 31 December 2015. This is the largest financial penalty for AML controls failings ever imposed by the FCA, or its predecessor the Financial Services […]
Powered by the Bill and Melinda Gates Foundation, the Digital Financial Services (DFS) Innovation Lab has launched a new high-intensity fintech bootcamp for companies in Sub-Saharan Africa and and South Asia.
Fintech zeitgeist! Welcome to the third in a new series of brief reports. Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye. This week we welcome the views of guest writer Soumik Roy. Last week, […]
Barclaycard is trialling contactless donations as it says charities may be missing out on more than £80 million each year by only accepting cash donations. According to its research, four in ten (42%) Brits say they carry less cash now than they did three years ago. While, one in seven (15%) people admit to walking […]
There was an interesting discussion at the recent Finance Disrupted event in London, organised by The Economist, that highlighted the opportunity for regtech to support financial inclusion.
