IBM teams with Dream for payments on the cloud
IBM has teamed with Toronto-based firm Dream Payments – bringing its cloud and security capabilities to help the firm offer mobile point of sale solutions and business-to-business (B2B) payments.
Partnerships
Instant payments momentum gathers pace globally as Swift strengthens its role
Instant payments are set to be one of this year’s hot topics at Sibos. Last week, Swift and EBA Clearing announced that users of EBA’s instant payments system, RT1, will be able to access the platform via SwiftNet Instant, Swift’s instant payments messaging solution, from November 2018. Elsewhere, Australian consumers have been told they will be able to make instant payments from January next year.
IBM, KlickEx Group and Stellar unveil cross-border payments solution
IBM, KlickEx Group, a regional financial services company, and Stellar, a non-profit organisation that supports an open source blockchain network, have unveiled a new regional cross-border payments solution using IBM’s blockchain technology to provide clearing and settlement of trades on a single network in real time.
Finicity teams with DataVerify
Data aggregation and insights company Finicity has integrated with risk mitigation firm DataVerify to offer mortgage lenders real-time borrower asset verification.
Microsoft and AWS buddy up to democratise machine learning
Microsoft and Amazon Web Services (AWS) have teamed up to launch an open-source, deep learning library called Gluon which will make machine learning (ML) more accessible to a wider range of developers, reports Telecoms.com (Banking Technology’s sister publication). That will be the key to winning the machine learning race. Not making the most complex and […]
Mauritius looks to blockchain for financial inclusion boost
The State Bank of Mauritius, SBM Group and SALT, creator of a blockchain-backed loan platform, have entered into an exploratory relationship to use blockchain assets as collateral for lending services. SALT, which stands for Secured Automated Lending Technology, says it offers risk mitigation software which allows financial entities, like SBM, to participate in this new […]
P2Binvestor launches lending programme for banks
Colorado-based P2Binvestor (P2Bi), a marketplace lending platform, has unveiled its bank partnership programme to let organisations access capital. Krista Morgan, CEO of P2Binvestor, says it’s “enabling banks to lend to businesses they otherwise wouldn’t be able to due to strict lending standards”. P2Bi’s strategy is to “build a lending relationship with banks at an earlier […]
Finastra partners with Vasco to offer customers eSignLive capability
It turns out, banks can gain a lot from business tools. That’s probably why business solutions company Vasco and financial services software company Finastra teamed up.
Trustly teams with Emric to broaden payment options for businesses
Instant payments and real-time authentication checks are coming to business clients of Nordic software provider Emric – courtesy of a new partnership with Trustly.
The modern trade landscape: banks and digitalisation
Innovative technologies are increasingly sparking enhancements to trade processes. BNY Mellon Treasury Services’ Dominic Broom, global head of trade business development, and Joon Kim, head of global trade product, discuss how the industry – with banks at the helm – can drive forward new capabilities and help to support trade growth through digitalisation.
La Caisse and Desjardins Group launch fintech and AI in finance fund
Canada’s La Caisse de dépôt et placement du Québec and Desjardins Group have set up an investment fund dedicated solely to the fintech sector and to artificial intelligence (AI) applied to finance.
Baker Hill forges partnerships with Allied Solutions and Experian
With a pair of newly-announced deals, Baker Hill continues to deliver what company president and CEO John M. Deignan calls “the cutting-edge technology and comprehensive analytical intelligence our clients need to compete and win in today’s lending environment”. David Penn at Finovate (Banking Technology‘s sister company) reports that Baker Hill has partnered with Allied Solutions, which will refer […]
Payments round-up: 10 October 2017
Payment services are all the rage this week, here’s a rundown with this week’s round-up. Featuring Paynear, GoSwiff, BBVA, Omnia Pay and Huawei.
India’s fintech valley gets pally with Mastercard for smart city plan
Mastercard has partnered with the Andhra Pradesh government in India to bring its digital payments into the Fintech Valley Vizag’s smart city plan. Under the agreement, Mastercard will help Andhra Pradesh in its ambitions to be a cashless society and develop the city concept. Mastercard president and CEO Ajay Banga says it can do this […]
Fujitsu to trial blockchain payments with three Japanese banks
Fujitsu will work with Mizuho Financial Group, Sumitomo Mitsui Financial Group (SMFG) and Mitsubishi UFJ Financial Group (MUFG) to conduct a joint field trial of a person-to-person (P2P) money transfer service using blockchain. The trial will begin in January 2018 and last for about three months. Fujitsu says it has already initiated development of the […]
Earthport brings Swiss banks Swift cross-border payments
Earthport, a cross-border payments service provider, has been appointed by Swiss Euro Clearing Bank (SECB), a clearing hub for Swiss banks, to provide Swift processing services.
Tascet teams with Secured2 to launch Algo5 data security offering
Identification technology company Tascet is partnering with Secured2 to launch a new data security offering. The product, Algo5, aims to protect data against both internal and external breaches, hacks, and disasters, reports Julie Muhn at Finovate (Banking Technology‘s sister company). The new data storage solution combines Tascet’s SuperToken, which verifies a user’s identity, with Secured2’s Beyond Encryption, […]
Blockchain and Bitcoin round-up: 6 October 2017
Blockchain funding, Pubcoin blockchain rewards programme, network and technology sharing and platform test launching. Our latest blockchain and Bitcoin round-up features Anryze, Leanpub, MicroMoney, Karma and Zilliqa.
Aviva acquires majority stake in Wealthify
UK based insurer Aviva confirms that it’s acquired a majority stake in robo advisor, Wealthify.
Temenos teams with MuleSoft to accelerate open banking
Banking software provider Temenos has teamed up with Mulesoft, a platform provider for building application networks. The move is intended to break down barriers to the open banking initiative by facilitating API connections, reports Julie Muhn at Finovate (Banking Technology’s sister publication). As a part of the partnership, Temenos will develop a core banking adaptor […]
Central banking and fintech: a brave new world?
This is a moment to celebrate 20 years of independence during which the Bank of England has been a stabilising force for the UK economy, inspiring others in the world of central banking.
Singapore and Thailand mull digital payments alliance
The Monetary Authority of Singapore (MAS) and the Bank of Thailand are in discussions about connecting their national digital payment systems as officials step up efforts to curb the use of cash, according to Bloomberg. The link would bring together Southeast Asia’s first national digital payment platforms, Singapore’s PayNow and Thailand’s PromptPay, says Naphongthawat Phothikit, […]
Singapore sets Phase 2 to stun for blockchain inter-bank payments
The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) say that the consortium which they are leading has developed software prototypes for improved payments on blockchain. The prototypes included three different models for decentralised inter-bank payments and settlements with liquidity savings mechanisms. The project, conducted together with 11 financial institutions […]
Hey big lender! Finastra, R3 and seven banks have blockchain plan
Finastra, R3 and seven banks – including BNP Paribas, BNY Mellon, HSBC, ING and State Street – are working together to create a blockchain-fuelled online marketplace for the syndicated loan market. Underpinned by Corda, R3’s distributed ledger technology (DLT) based platform, Fusion LenderComm exposes real-time credit agreement, accrual balances, position information and transaction data to […]
Standard Chartered takes TradeIX and Infor route for digital trade finance drive
Standard Chartered is using TradeIX’s TIX blockchain platform and Infor’s GT Nexus Commerce Network for two separate digitalisation efforts in trade finance. The TradeIX platform enabled Standard Chartered’s unnamed client to “help its customers increase their payment terms whilst maintaining the company’s receivables at current terms”. The financing was offered by Standard Chartered with credit […]
Fintech funding round-up: 5 October 2017
Four of the latest stories in one for a fast fintech funding round-up. Features SalaryFinance, Featurespace, Worldpay, Invoke Capital, ESF Capital and ThinCats.
IBM teams with big banks for blockchain-powered trade finance platform
Tech giant IBM has partnered with five banks – UBS, Bank of Montreal, CaixaBank, Commerzbank and Erste Group – to launch a blockchain-based trade finance platform. The new platform, called Batavia, is built to be accessed by organisations of all sizes anywhere in the world.
Voleo and Nasdaq to launch equity trading competition
Social investing platform Voleo has teamed up with Nasdaq to launch its Voleo Equity Trading Competition – with winning investors and investing teams getting $10,000 in real cash portfolios, reports David Penn at Finovate (Banking Technology‘s sister company). “The goals of the competition are to improve financial literacy, to break down the knowledge barrier, and […]
Turn gaming into investing with Invstr’s newest app
Invstr, the social and investment game app, has launched a new product which will give UK members the ability to trade fractional shares.
Snapsheet and KeyBank form virtual duet for insurance claims
Snapsheet, a virtual claims insurtech provider, is partnering with KeyBank for the launch of Snapsheet Transactions, a payment solution for insurance claims. Instead of insurance carriers sending claimants a cheque in the mail once a claim is settled, Snapsheet Transactions provides carriers a hub for issuing claims and expense payments. CJ Przybyl, president of Snapsheet, […]
Live Oak and First Data open up to digital banking with Apiture JV
International paytech firm First Data and a bank in North Carolina, Live Oak, have partnered to form a new digital banking joint venture (JV) called Apiture.
OCBC Bank, HSBC and MUFG in KYC blockchain breakthrough
OCBC Bank, HSBC and Mitsubishi UFJ Financial Group (MUFG), together with the Infocomm Media Development Authority (IMDA), has become the “first consortium” in South East Asia to complete a proof of concept for a know your customer (KYC) blockchain. The parties say the development “raises the possibility” of using blockchain to make KYC “more efficient […]
Telegram becomes the BotFather of Sberbank’s payments
News comes from Russia with love as Sberbank, the country’s largest bank, and Telegram, a messenger API, have partnered up to develop a payment solution for firms using Telegram bots.
Banco Santander makes Mioti move for IoT education
Banco Santander, through Santander Universities and Fundación Universia, will work with internet of things (IoT) institute Mioti to provide training grants and courses in the growing IoT sector. Madrid-based Mioti, “the first 100% IoT institute in Spain”, is a place for companies, entrepreneurs and start-ups to develop their ideas. Banco Santander becomes one of four […]
Banking Technology October 2017 issue out now
Oh brave new world! Where transparency reigns. The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
Timex and Barclaycard collaborate to create contactless payment watch
Timex and Barclaycard have partnered in true style to produce a new range of contactless payment watches. The Fairfield Contactless promises to be a perfect fusion of style and smart functionality. Coming in at a retail price of £159, it’s all about the leather bPay embedded strap, which brings wearable technology to the wrist. bPay […]
Stockpile raises $30m to boost millennial stock ownership
Millennial-focused brokerage firm Stockpile has pulled in $30 million this week in a Series B funding round led by Fidelity.
Top fintech stories this week – 29 September 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Fintechs – friends or foes?
Visa employees have a saying that “cash is our biggest competitor.” Mightier threats, however, are looming.
SEB and Nasdaq working on blockchain prototype for Swedish mutual fund market
Swedish financial services group SEB and Nasdaq are working on a joint project to test a developed prototype for a mutual fund trading platform based on Chain’s blockchain ledger. The aim is to increase efficiency in the processing of purchases and sales of fund units and to create a unit ledger – an area which […]
