Member Driven Technologies adds four US credit unions
They all opt for Symitar Episys core banking platform.
Software-as-a-Service/SaaS
Workday acquires machine learning start-up SkipFlag
SkipFlag uses deep learning to help enterprises make sense of data they collect each day.
Cloud market soared to $180bn in revenue in 2017 – study
A 24% year-over-year increase, according to new research by Synergy Research Group.
AWS and Microsoft Azure lead $35bn public cloud market
Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS) and Software-as-a-Service (SaaS) continue to grow.
Oracle cloud revenue bursts 44%
Oracle reported total cloud revenues up 44% to $1.5 billion for Q2 of its fiscal 2018.
FinReach extends digital reach to Austria and Spain
German digital account exchange provider FinReach has expanded into Austria and Spain – meaning its service is now used by over 500 banks in three countries. In Austria, FinReach has partnered with, amongst others, banking group Raiffeisen Austria, which includes 434 banks and has 1.7 million customers. In terms of the Spanish market, Self Bank, […]
Case study: Towergate Insurance – achieving “good enough” IT in the cloud
If you’ve worked in information technology long enough, you’ve fallen prey to the urge to pursue technology on the cutting edge or even the bleeding edge.
Cheddar on mission to help software developers monetise faster
It’s a tale as old as tech start-ups – a software developer creates a new app and is convinced it will take the world by storm. The only problem? No idea how to monetise the brilliant creation. Xconomy (Banking Technology‘s sister publication) reports that a US fintech start-up based in Bloomington, Indiana, called Cheddar aims […]
Bar Harbor Bank & Trust in core banking tech overhaul with Jack Henry
Bar Harbor Bank & Trust has implemented new core banking software, Jack Henry & Associates’ Silverlake, provided on an outsourced basis.
Avaloq signs core banking tech deal with Bank of Asia
Bank of Asia, a start-up digital bank in the British Virgin Islands focused on companies that have ties to Asia, has signed for the Avaloq Banking Suite core platform.
Four US banks sign for DCI’s iCore360 core banking tech
A Kansas-based banking software developer, Data Centre Inc (DCI), has signed four new clients for its flagship core banking system, iCore360.
ATB Financial live on Murex treasury and capital markets tech
Canada’s ATB Financial has gone live with a new treasury and capital markets (TCM) solution, MX.3, supplied by Murex. The solution is delivered on a Software-as-a-Service (SaaS) basis.
Utkarsh Small Finance Bank goes live with Intellect’s core banking system
Utkarsh Small Finance Bank, a microfinance institution in India, has rolled out Intellect Design Arena’s core banking system. The bank received its licence last year, and according to Intellect, one of the key requirements for Utkarsh was to have a joint liability group solution that would enable it to provide group loans to the microfinance […]
Top fintech stories this week – 6 October 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Bank of Ireland’s new CEO reviews tech revamp
Bank of Ireland’s new CEO is understood to be reviewing its five-year €900 million modernisation initiative – aka Project Omega – according to the Irish Times. As Banking Technology reported last year, the new set-up will be hosted by Capgemini. The bank was known to be evaluating a joint Software-as-a-Service (SaaS) offering from Temenos and […]
Banking tech vendor Ohpen acquires FYNN Advice for implementation capabilities boost
Core banking tech vendor Ohpen has acquired a fellow Dutch fintech firm, FYNN Advice, which specialises in core banking software implementations.
VTB applies for UK banking licence, selects core banking system
EXCLUSIVE: Russia’s second largest banking group, VTB, is looking to launch a retail banking business in the UK, Banking Technology understands. The bank has applied for a UK banking licence, to enable it to take retail deposits.
Top fintech stories this week – 8 September 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Mambu’s core banking tech supports challenger bank N26
Mambu has gone on the record about its core banking software project at N26, a German-based challenger bank. N26 is using Mambu’s flagship core system, provided on a Software-as-a-Service (SaaS) basis.
Abcul halts credit union migration to new core platform
EXCLUSIVE: UK-based Association of British Credit Unions (Abcul) has suspended its plans to migrate its member credit unions onto its new tech platform, Banking Technology understands.
ERI and Swisscom team for hosted core banking tech and ops
Switzerland-based core banking software provider ERI has joined forces with another domestic IT firm Swisscom to offer private-banking and wealth management outsourcing services to banks and financial institutions operating in the Swiss financial centres.
Avaloq maintains momentum with massive earnings rise
Avaloq has reported impressive earnings growth for the first half of 2017 due to investment in its banking suite and the “accelerating trend of the market” towards digital, Software-as-a-Service (SaaS) and transaction processing services. For H1 2017, the firm says compared to the same period last year, adjusted EBITDA increased 257% to CHF 36.3 million […]
SEFCU outsources core processing to Fiserv DNA
SEFCU, a top-50 credit union in the US, is modernising its core processing software with Fiserv.
Mambu’s core banking tech to support lending business of Globe Telecom
Banking software developer Mambu has inked a large deal with Fuse, the lending arm of Filipino financial technology firm Mynt. Mynt itself is a subsidiary of Globe Telecom, a Philippines-based telco.
Linedata acquires outsourcing firm QRMO
Linedata has expanded its outsourcing business into Asia with the acquisition of Quality Risk Management & Operations (QRMO), a provider of outsourced middle-office, shadow accounting and risk monitoring services to the asset management and securities industries.
Digiliti Money evaluates go forward strategy as founder quits and revenue falls
US-based fintech Digiliti Money (formerly Cachet Financial Solutions) is pondering its future in the light of financial troubles and the resignation of its founder, chairman and CEO, Jeffrey Mack.
BNG Bank in regtech project with BearingPoint
BNG Bank, a public sector bank in the Netherlands, is implementing BearingPoint’s Abacus regtech solution for MiFID II/MiFIR, EMIR II, MMSR and SFTR reporting.
Pacific Western Bank live with nCino’s Bank Operating System
Pacific Western Bank, a $21 billion institution in California, has gone live with nCino’s cloud-based Bank Operating System, replacing in-house systems.
Mortgage tech provider PCLender acquired by Fiserv
Fiserv has acquired PCLender, a US-based provider of “simple, elegant, internet-based mortgage solutions for community banks, credit unions and mortgage bankers”.
Everyday Loans automates IFRS 9 compliance with Jaywing
Everyday Loans, a UK-based provider of “loans for bad credit”, has signed for Jaywing’s Horizon solution for IFRS 9 modelling and provision calculation.
Cantilan Bank pioneers cloud-based core banking software in Philippines
Cantilan Bank is set to become “the first bank in the Philippines to use cloud-based core banking technology in its operations”.
New payments bank launched in India, Fino Payments Bank
India has seen the launch of its fourth payments bank, Fino Payments Bank. For its core banking system, the bank uses Profile from FIS, delivered on a hosted basis.
Oracle expands on-premise public cloud offering – sounds weird right?
Oracle has continued its journey into the cloud, expanding an interesting proposition to target the data sensitive and paranoid.
Fintech funding round-up: 30 June 2017
A handy round-up of who’s investing in what in the fintech space. Featuring Revolut, Tango Card and ClauseMatch.
Bank of America signs for Oracle ERP
Bank of America is rolling out Oracle’s cloud-based ERP system and financial applications for its international general ledger and broker-dealer systems.
SnoCope Credit Union to save $100,000 per year with core tech conversion
SnoCope CU, a small credit union in the US state of Washington, is revamping its core processing technology with CUProdigy. The new cloud-based platform will replace Fiserv’s Galaxy solution.
Greater Wyoming FCU outsources core, digital and cards tech to Fiserv
Greater Wyoming Federal Credit Union has ditched its incumbent core software provider for Fiserv. The credit union has implemented Fiserv’s Portico core processing and digital banking system on a hosted basis.
Case study: Valley National Bank – cloud atlas
Valley National Bank, a $23 billion regional bank holding company headquartered in northern New Jersey, is undertaking a widespread technology refresh to improve customer experience and profitability.
Glenmede Trust Company implements Charles River IMS platform
Glenmede Trust Company, a US-based investment and wealth management firm with $34 billion of assets under management, is consolidating its institutional and wealth operations on Charles River’s Investment Management Solution (IMS).
Surety Bank to swap legacy core banking system for Nymbus’ SmartCore
Florida-based Surety Bank is embarking on a core banking software overhaul with Nymbus. The bank will implement Nymbus’ flagship SmartCore system. The solution will be delivered in a private cloud.
