Mfinance concludes integration platform tender
Kenya-based banking tech provider and integrator NLS Banking Solutions has won the bid to supply an integration platform to Madison Finance Company (Mfinance) in Zambia.
Financial Services/Finserv
UBS launches SmartWealth digital platform in UK
UBS Wealth Management has launched its new digital platform, SmartWealth, to tap into “a new audience” in the UK. The banks says it’s the first of its kind in the country.
DeVere enters international fintech space with Lithuania launch
Financial consultancy firm DeVere Group has taken advantage of Lithuania’s ambitions to attract fintech firms and set up a new office in the capital Vilnius. The Bank of Lithuania, the country’s central bank and regulator, recently issued an electronic money institution licence which made it possible for DeVere to establish its new subsidiary DeVere E-Money. […]
Top fintech stories this week – 3 March 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Nordea preps for PSD2 with open banking portal
Nordea has released the first version of its open banking portal targeted towards external developers, as it gets ready for the Payment Services Directive (PSD2) requirements. Currently the site has “limited functionality” but unspecified pilot activities will be conducted through the portal during 2017, in advance of a full launch in Q1 2018. Jarkko Turunen, […]
InvestCloud launches US innovation centre
California-based InvestCloud has opened its first fintech accelerator and incubator, the InvestCloud Innovation Centre, at its Pacific Design Centre headquarters in Los Angeles. The new 10,747-foot centre gives banks, wealth managers and other financial services firms “residences” to accelerate the development of new apps through access to InvestCloud’s full technology platform, in collaboration with a […]
Ex-R3 members behind new blockchain alliance
Banco Santander, BNY Mellon, Intel, JP Morgan and Microsoft are some of the big names behind the launch of a new blockchain alliance. Called the Enterprise Ethereum Alliance (EEA), it plans to drive Ethereum blockchain technology best practices – “focusing on security, privacy, scalability and interoperability”. This development creates another rival for the R3 blockchain […]
Crypto Valley launch breathes life into blockchain and cryptography
Switzerland-based Crypto Valley Association has launched as the nation looks to boost its blockchain and cryptographic ecosystem. Headquartered in the Swiss canton of Zug, Crypto Valley is an independent, government-supported association which aims to foster the development of digital technologies in Switzerland and internationally. The association will support start-ups and established enterprises through policy recommendations, […]
Société Générale extends partnership with Lombard Risk to global markets
UK-based regtech and risk management vendor Lombard Risk has extended its “global strategic partnership” with Société Générale. The bank will roll out Lombard Risk’s collateral management system, Colline.
USAA gives development rights to Persistent Systems
USAA, a provider of banking and insurance services to the US military personnel and their families, has granted intellectual property (IP) rights to Persistent Systems for the development of its banking tech. Through this agreement, India-based Persistent will look and attempt to extend USAA’s technologies to identify and verify members. Persistent says it will focus […]
Citi unveils APIs for treasury services
Citi’s Treasury and Trade Solutions (TTS) has launched an application programming interface (API) solution for payment initiation, payment status and account balance inquiries through its connectivity platform CitiConnect. As Banking Technology reported late last year, Citi unveiled a new global API developer portal, which it claimed to be the most comprehensive to date in the […]
Nordea releases new automated FX handling tool
Nordea Cash Management and Nordea Markets have launched AutoFX, an automated FX handling tool. Nordea says it is the first bank in the Nordics to offer this type of solution. AutoFX was developed in collaboration with a “large Nordic customer in the media industry”, in an effort to help modern treasury functions automate their daily […]
Bank of Baroda launches fellowship programme to support fintech start-ups
Bank of Baroda, a public sector bank in India, has launched a fellowship programme to support fintech, rural, agricultural and financial inclusion start-ups.
First New Clearing Bank in 250 years Enters U.K. Market
There’s a newcomer on the U.K. challenger bank scene, but it’s not wooing consumers. As a bank for banks, other FIs and fintech companies, ClearBank will offer customers access to U.K. payment systems and core banking technology to support current account capabilities.
Santander employs IBM for employee digital boost
IBM’s MobileFirst for iOS apps will be used by Santander as the bank looks to revamp its digital banking services and help its employees work better. The custom-built, native apps made for iOS will be rolled out across more than 11,000 iOS devices, and will be used by Santander’s commercial network employees, including those supporting […]
Hiccup for HSBC online banking
HSBC’s online banking went down for several hours today (27 February) – with its business customers particularly affected. The bank tweeted about the issues earlier today. We're experiencing some issues with our online services, we're working to resolve this. Apologies for any inconvenience caused. — HSBC UK (@HSBC_UK) February 27, 2017 Customers trying to access […]
Cybersecurity: computers or humans – where does the threat lie?
Digitalisation plays a key role in the fight against payment fraud. Yet Commerzbank’s cybercrime specialists in cash services show that even in this technologically advanced environment, security threats persist. Companies must take steps to ensure that human beings – as well as computers – are protected against crime.
RBS financial mess seeks digital redress
The Royal Bank of Scotland’s (RBS) poor financial results have led to its CEO calling for more cost reductions and a faster digital transformation. The bank reported an operating loss before tax of £4.08 billion for 2016 and an attributable loss of £6.95 billion, which included litigation and conduct costs of £5.86 billion, restructuring costs […]
Top fintech stories this week – 24 February 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! IBM and Northern Trust debut blockchain for private equity Uses the Hyperledger Fabric. Visa opens new innovation centre in London It’s the latest and largest one. Digital gets a spurt with Natwest and RBS experts Every branch gets […]
Bank of America zooms in on Zelle for mobile banking
Bank of America has chosen the person-to-person (P2P) Zelle service within its mobile banking app as part of its digital drive. Zelle will let clients send, receive and request money, allowing them to use the existing contacts on their mobile device to transfer money to (or request money from) “almost anyone within minutes, regardless of […]
UK’s Community Savings Bank Association selects TCS Bancs core banking system
New challenger Community Savings Bank Association (CSBA) has chosen TCS Financial Services’ Bancs core banking system on the cloud for its member banks across the UK. Last year, Banking Technology was the first publication to report on CSBA joining the British banking market. The association, which is registered as a co-operative society plans to set […]
Digital gets a spurt with Natwest and RBS experts
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 brings its payments to rural India
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 oil up on blockchain
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 […]
RateSetter gets Plum deal for investing
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 Northern Trust debut blockchain for private equity
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 picks Iress for mortgage tech upgrade
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 […]
The Monday mindset: 20 February 2017
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 teams with Tencent FiT for e-commerce solution
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 in major IoT drive with new partners
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 debuts digital platform for SME lending
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 […]
New UK cybersecurity centre plays hard to get
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 […]
Fintech accelerator round-up: 14 February 2017
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 […]
Data gets greater with new Singapore group
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 […]
FCA: experimenting in the sandbox
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 first bank in UK for voice-powered payments
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 […]
The Monday mindset: 13 February 2017
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 […]
Six into one with new UK financial services trade association
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 launches open banking API developer portal
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 debuts blockchain security for large-scale enterprise IT
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 […]
