€18 billion invested in software by European banks in 2016
The European Banking Federation (EFB) has released survey stats that show that European banks last year invested more than €18 billion in software.
Innovation
R3 and banks partner to develop cross-border payments platform
Enterprise software firm R3 and 22 of its member banks have developed a solution that leverages distributed ledger technology (DLT) to enable “fast, efficient and cost-effective” cross-border payments.
Microsoft growing explosively, but Amazon retains huge cloud lead
Microsoft is the fastest-growing of the four big US cloud service providers, with revenue up 90% year-over-year in the third quarter, writes Enterprise Cloud News (Banking Technology‘s sister publication).
Banking Technology Awards 2017 shortlist unveiled
We are happy to announce the 2017 Banking Technology Awards shortlisted candidates!
Finnish OP Financial Group teaming with Polish fintech ZenCard
Polish fintech group ZenCard, alongside three other companies, is set to launch its technologies on the Finnish market after winning the OP Smart Commerce programme led by OP Financial Group.
ING unveils new branch concept that “feels like home”
ING Belgium has opened doors to its first “client house” branch, which the bank describes as “a place where retail, business and private banking customers can walk in and enjoy a good coffee and receive personal service”.
Google teams with Cisco for hybrid cloud
Google wants to become an enterprise cloud provider, so why not team up with the company that rules enterprise-networking market share?
Personetics leverages AI to help chip away at student loan crisis
Cognitive analytics company Personetics has launched Personetics Act to offer banks a way to help customers repay their student loans ahead of schedule.
What adds up to $95 billion? Q3 for Google, Microsoft and Amazon
$43.7 billion for Amazon, $27.7 billion for Google and $24.5 billion for Microsoft. And it hasn’t even hit the Christmas sales period yet.
Persado unveils Persado One; lands $30m credit facility from Silicon Valley Bank
Artificial intelligence (AI)-generated marketing campaign company Persado has unveiled a new product, along with a fresh $30 million credit facility to fuel further expansion.
Case study: Hellenic Bank – building a bank through strategic partnerships
Natasha Kyprianides, group head of digital banking and innovation at Hellenic Bank, gives the lowdown on how to apply the partnership strategy in practice and achieve real results.
NYC public transport set to go contactless
New York to roll out a contactless fares system across its public transport network, based on the system developed by Transport for London (TfL).
Fintech funding round-up: 27 October 2017
Just when you thought there couldn’t be more; the latest stories from the fintech funding world returns for another round. Features Constellation, Credit Sesame and Jirnexu.
Credit union consortium CULedger opts for Swirlds to build blockchain platform
CULedger, a US-based credit union consortium formed by the Credit Union National Association (CUNA) and the Mountain West Credit Union Association (MWCUA), has selected Swirlds’ hashgraph technology as a key component of its permissioned, distributed, shared ledger platform for credit unions.
JP Morgan Chase launches mobile app Finn for millennials
JP Morgan Chase has launched its new mobile banking app, Finn. Designed for millennials, Finn will allow customers to open a bank account, make deposits, track spending and set up a saving plan.
Map: fintech landscape
A very detailed map of the current fintech landscape, produced by VentureBeat, listing hundreds of companies in the banking, payments, investments, financing, insurance, infrastructure and enabling technologies verticals.
Top fintech stories this week – 27 October 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Fidor and Eight Inc partner to create digital finance marketplace
Fidor, a provider of digital banking solutions, has signed a partnership with Eight Inc, a “strategic design and innovation firm”, to launch Fidor Market, its digital marketplace.
ING launches €300m fintech fund, ING Ventures
ING Ventures, a new investment fund set up by ING, has €300 million to pump into fintech companies.
Teradata Partners Conference 2017: architecture and morality in AI
The question of the morality of artificial intelligence (AI) was one of the hot topics discussed at an event run by US-based Teradata. At day four (25 October) of the Teradata Partners Conference 2017 (22-26 October), in Anaheim, California, Banking Technology pulled up a chair and listened to the thoughts of the great and their livelihoods. To get […]
SelfScore rebrands as Deserve, raises $12m funding
Consumer analytics company SelfScore has rebranded as Deserve.
Case study: the technology behind P2P
The UK peer-to-peer (P2P) lending market has flourished in the last decade. Lending volumes among the major platforms are increasing rapidly, pushing the cumulative total above £7 billion for the first time, as the understanding of the investment model continues to grow.
Tink secures investment and bank partners as it plans European expansion
Swedish fintech company Tink has signed with Nordic banks Nordea, Klarna and Nordnet. Integrating in 2018, the banks will use Tink’s payment technology and personal finance management (PFM) platform within their existing customer channels.
Sherpa Foundry and Silicon Valley Bank create Silicon Foundry, corporate innovation platform
Sherpa Foundry and Silicon Valley Bank (SVB) have joined forces to launch Silicon Foundry, a membership-based corporate innovation platform.
Bento for Business opens APIs, partners with The Bancorp and launches new products
US-based expense management solution provider Bento for Business has onboarded new partners and expanded its product line.
Clinc teams with Enacomm to bring AI chatbots to small banks and credit unions
Artificial intelligence (AI) fintech start-up Clinc is making its chatbot Finie more widely available through a new partnership with Enacomm.
Ledger partners with Intel to boost blockchain app security
Ledger, a France-based specialist in security solutions for cryptocurrency and blockchain applications, has partnered with Intel to bring greater protection for users of digital wallets.
Fintech start-up Ualá targets Argentina’s unbanked with new mobile banking service
Argentina-based fintech start-up Ualá has launched a mobile banking service app to champion financial inclusion in the country.
Teradata Partners Conference 2017: not vexed on the edge of next
On the brink of tomorrow, US-based Teradata believes it’s in the right place to get ready for the future with its new range of data products and artificial intelligence (AI) inspired vision. At day two (23 October) of the Teradata Partners Conference 2017 (22-26 October), in Anaheim, California, attended by Banking Technology; the firm showed […]
Speed through the checkout with Pay with Google
Speed through the checkout on your Android device with Pay with Google, the latest payment API from Google.
“World’s first” full-featured virtual banking assistant on Facebook Messenger launched by ATB Financial
Canada’s ATB Financial says it has launched “the world’s first full-featured virtual banking assistant on Facebook Messenger” to the bank’s nearly 700,000 personal banking customers.
IBM and Zelle team up to advance P2P payments
IBM says it has launched an “industry first” solution to support the full lifecycle of peer-to-peer (P2P) transactions, from the back office of financial institutions to the mobile device.
Standard Chartered and SuperCharger return for third cohort in Hong Kong
SuperCharger, a fintech accelerator in Asia, has unveiled the opening of applications for its third programme in Hong Kong.
Diebold Nixdorf IMS Conference 2017: differing digital dreams
Diebold Nixdorf’s IMS 2017 conference continued with Czech Republic based, Air Bank, and its chief marketing and product officer Jakub Petřina, with a presentation and a touch of déjà vu.
ITF to become “the world’s first fintech bank”
A new bank, Into the Future (ITF), is gearing up for launch in Hong Kong and Singapore. Among its investors is Jim Rogers, an American businessman based in Singapore and the co-founder of the Quantum Group of Funds (which he started with George Soros).
MapD partners with IBM Power Systems
Analytics platform MapD has partnered with IBM Power Systems to enhance its analytical performance. California-based MapD has optimised its MapD Core database and MapD Immersive visual analytics client to take advantage of IBM Power Systems to target the speed at which SQL queries can be performed.
Efigence partners with Alior Bank and Telekom Romania to launch Telekom Banking
Alior Bank’s Romanian branch has teamed up with Deutsche Telekom Group’s Telekom Romania Mobile Communications to develop a new digital financial service. And providing the online exchange for this service is none other than Alior Bank’s long-time partner, Efigence.
Mastercard takes blockchain mainstream with API
Mastercard announced it has tested and validated its blockchain and will be opening access to it via a set of three APIs published on the Mastercard Developers website. The APIs include the blockchain core API, the smart contracts API, and the fast pay network API.
Stash reveals plans to launch mobile-first banking service
Mobile-first investment platform Stash is about to go mobile-first in the field of online banking. The New York-based start-up plans to offer a variety of banking services for mobile-centric customers.
Zighra launches flagship continuous authentication product
User authentication company Zighra has launched SensifyID, which provides continuous authentication and threat detection. SensifyID guards against account takeover, remote malware, social engineering, and bot attacks.
