Case study: BankMobile – bank of the future NOW
How did BankMobile become the largest digital bank in the US? Luvleen Sidhu, the bank’s co-founder and chief strategy officer, shares the strategy.
Partnerships
Nets and Sthaler team up for finger-vein enabled payments
London-based biometric tech vendor Sthaler is working with Nordic payments provider Nets to introduce finger-vein enabled payments to the consumer market in Europe.
Association of Banks of Singapore launches PayNow mobile payments service
The Association of Banks of Singapore (ABS) has unveiled a new funds transfer service – PayNow – that requires only a mobile and identity card numbers to enrol.
Alipay comes to Spain with BBVA
BBVA has signed an agreement with Chinese tech giant Ant Financial to enable Chinese tourists to pay in Spanish stores using the Alipay mobile wallet. BBVA is the first Spanish financial institution to be working with Alipay.
Hong Kong gets its own fintech association, FTAHK
The Fintech Association of Hong Kong (FTAHK) has officially launched “to champion an open, inclusive and diverse fintech community in Hong Kong”.
Nominate your projects for Banking Technology Award!
Banking Technology is on the lookout for all the best FinTech projects of the year! Recognising excellence, innovation and the use of IT in banking and financial services, the Banking Technology Awards will be taking place on 13 December in London. Think your achievements deserve a special recognition? Or know projects that do? Nominate today […]
Visa invests in paytech firm and bank Klarna
Visa is investing in Klarna, a Swedish payments and banking firm, and the two firms intend “to develop a future strategic partnership”.
R3’s Corda DLT platform tested for euro commercial paper issuance
Blockchain consortium R3 (which now describes itself as an “enterprise software firm”) and four of its member banks have created a prototype solution for issuance of euro commercial paper (ECP) on R3’s Corda distributed ledger technology (DLT) platform.
IBM and seven European banks team for SME trade finance blockchain project
A group of seven large European banks, Digital Trade Chain Consortium, have turned to IBM to build and host a new trade finance platform, based on IBM Blockchain powered by Hyperledger Fabric.
Insurtech firm Clark and N26 launch digital insurance service
Clark, a German insurance robo-advisor, has inked a deal with mobile bank N26. Clark says its Bancassurance-API will help customers of N26 “to better understand their current tariffs and improve their insurance situation”.
Japan and Australia regulators to co-operate on fintech
The Financial Services Agency of Japan (JFSA) and Australian Securities and Investments Commission (ASIC) will work together to promote innovation in financial services in Japan and Australia. Both have completed a framework and they will share information and support the entry of fintech firms into each other’s markets. ASIC says this framework will “help open […]
How banks can beat the fintech threat – Capgemini’s 2017 World Retail Banking Report
Facing disruption from fintech providers, traditional banks must embrace APIs and the open-source model to avoid losing their place at the centre of consumers’ financial lives, a new report warns.
SIX’s payments offer cashless waltz for Vienna Life Ball
SIX Payment Services (SIX) has enabled the Vienna Life Ball in Austria to be cashless for the first time in its history. The Life Ball is an annual AIDS charity event, and 110 cashless point of sale (POS) terminals were installed, configured and serviced by SIX, across the whole arena. There were also 30 top-up […]
Rabobank builds cross-border payments hub with Finastra
Rabobank is modernising and centralising its cross-border payments operations. The software supplier for the new payments hub is Finastra (formerly Misys and D+H).
BBVA taps into biometrics with new firm Veridas
BBVA and start-up Das-Nano have formed Veridas, a new firm specialising in biometrics for client identification and authentication systems. Veridas, which will be directed by Eduardo Azanza, who is also co-founder of Das-Nano, will research and develop software for the digital verification and authentication of personal identity, through facial, voice, image or document recognition, or […]
Who is the greatest fintech leader of 2017?
This year’s Banking Technology Awards are taking place on 13 December in London and once again we will be recognising individuals for leading and playing an instrumental role in devising and/or delivering the technology strategy to support the key business objectives of an organisation. The Tech Leadership Award category is open to all industry participants worldwide – those […]
Blockchain and Bitcoin round-up: 19 June 2017
Don’t let the blocks cause you too much mental blockage. Our latest blockchain and Bitcoin round-up keeps it ultra-brief. Featuring Ayondo, XBT Provider, Xapo and the European Commission. Financial services firm Ayondo has expanded its product portfolio with the launch of Bitcoin trading, offering access to price movement without the need to open an e-wallet […]
Blockchain fuels IBM and Standard Chartered insurance policy pilot
American International Group (AIG), IBM and Standard Chartered have piloted the “first” multinational, smart contract based insurance policy using blockchain. The trio converted a controlled master policy written in the UK, and three local policies in the US, Singapore and Kenya, into a smart contract that provides a shared view of policy data and documentation […]
Banking Technology Awards 2017 now open for entry!
Know any innovative products, inspirational projects, skilled teams or visionary leaders that deserve a special recognistion this year? Nominate them for a Banking Technology Award!
Singapore’s diamond trading takes a shine to blockchain
Singapore Diamond Investment Exchange (SDiX) has teamed with Kynetix and Everledger to trial the “first-ever” blockchain verification and record-keeping service for diamond trading. SDiX, Kynetix, a physical commodity digitisation firm, and Everledger, a supplier of blockchain and distributed ledger (DLT) infrastructure, have completed the first part of their proof of concept. The technology is designed […]
Finastra heads to IBM cloud for digital banking
Fintech titan Finastra is turning to IBM to power its banking operations with cloud and cognitive technologies. As reported yesterday (14 June), Misys and DH Corporation (D+H) joined forces to create Finastra, the third largest financial services technology company in the world. With Finastra now officially alive and kicking, it’s wasted no time in showing […]
Yes Bank and TerraPay tap into India’s migrant market
Mobile payments switch TerraPay has partnered with Yes Bank to enable real-time international money transfers to bank accounts in India – with the Indian migrant market firmly in their sights. TerraPay provides its clearing and settlement service, and via a “Rupee Drawing Arrangement”, its network partners can make the transfers to bank accounts in the […]
Australia and Hong Kong get it on for fintech innovation
The Hong Kong Securities and Futures Commission (SFC) and Australian Securities and Investments Commission (ASIC) have signed a co-operation agreement for financial innovation. Both parties play up their “already close ties” and the Australia-Hong Kong trade and investment relationship “more broadly”. ASIC says Hong Kong is Australia’s seventh most important destination for services exports, valued […]
Misys and D+H merge to launch fintech titan Finastra
Misys and DH Corporation (D+H) have joined forces to create Finastra, the third largest financial services technology company in the world. As reported in March, D+H was acquired by Vista Equity Partners for $3.6 billion. The venture capital firm, which owns UK-based banking software vendor Misys, beat rival Advent International to acquire D+H. Finastra will […]
Moroku’s Marrakash makes a splash with POS software deal
German payments company AEVI and Australian software firm Moroku have teamed up to offer POS software in AEVI’s B2B app store. Called Marrakash, Moroku’s software is for small retail and hospitality merchants that integrates their business, products, customers and payment systems into one platform. Moroku says it lets firms run their business “entirely from a […]
New edtech project for financial services, CFTE, launches
The Centre for Finance, Technology and Entrepreneurship (CFTE), a new educational platform for the finance industry, has been unveiled. “In a tech world, we bet on people,” CFTE states.
ABN Amro and ING lead charge for Dutch ATM survival
ABN Amro, ING, Rabobank and Geldservice Nederland (GSN) have teamed up to explore a potential initiative to ensure the availability of ATMs in the Netherlands. These discussions are being conducted in consultation with the nation’s central bank, De Nederlandsche Bank (DNB), and draw upon “successful initiatives” in Sweden and Finland. With the rise of digital […]
Cisco and IBM team up to tackle cybercrime
Cisco and IBM Security have joined forces for products, services and threat intelligence as they seek to improve their market share and combat cybercrime. Cisco will integrate its security solutions with IBM’s QRadar for network, endpoint and cloud protection. IBM says this also establishes a new relationship between its IBM X-Force and Cisco Talos security […]
International Regtech Association launched
International Regtech Association (IRTA) is a new worldwide industry body with over 100 founding members.
Skills over degrees in IBM’s new cybersecurity initiative
IBM Security has launched fintech programmes and partnerships to overcome the projected 1.8 million-person cybersecurity worker shortage and boost its market share. As part of its initiative, IBM is sponsoring alternative education models such as Hacker Highschool and Pathways in Technology Early College High School (P-TECH). It is also looking to change traditional hiring models […]
Cecabank and Grant Thornton create Spain’s first blockchain banking consortium
Spanish wholesale bank Cecabank and consulting firm Grant Thornton have created the first blockchain consortium in Spain. Called Blockchain Banking Consortium, the project intends to progressively develop the potential of blockchain in the financial sector, and according to the pair it presently comprises 33% of the Spanish banking sector. Luis Pastor, Grant Thornton technology and […]
DLT not yet delightful for Canada’s payment system plan
The results from phase two of Canada’s plan for a blockchain-powered interbank payment system reveal that it still faces many obstacles. The Bank of Canada, Payments Canada, R3 and seven commercial banks, have disclosed their report from Project Jasper, an experimental wholesale interbank payment system. First launched in 2015, the results so far show that, […]
Form3 teams with Apply Financial for payments validation
Form3, a cloud-based fintech firm launched last year, has partnered with payments validation company Apply Financial. The deal enhances Form3’s Payments-as-a-Service platform with “automation services to validate, enrich, and fix single and bulk payments”, Form3 says.
IFC and Singapore regulator are AFIN it large for Asian innovation
International Finance Corporation (IFC) and the Monetary Authority of Singapore (MAS) are working together to establish and develop their ASEAN Financial Innovation Network (AFIN). IFC, a member of the World Bank Group, and MAS have signed a memorandum of co-operation. Through AFIN, they plan to establish a regional network to help financial institutions, fintech firms […]
R3 hits jackpot with $107m investment for DLT
Blockchain consortium R3 has completed the first two of three tranches in its Series A fundraising round, securing $107 million in the “world’s largest distributed ledger technology (DLT) investment to date”. The consortia contest is heating up as this handy cash injection follows on from yesterday’s (22 May) announcement from the Enterprise Ethereum Alliance (EEA) […]
Saxo Bank releases new developer portal for open banking
Denmark’s Saxo Bank has released its new developer portal as it looks to strengthen its involvement in open banking. The portal provides technical documentation, reference guides, sample code and interactive tools. With the release, Saxo has made its trading infrastructure available to third-party developers, fintechs, vendors and partners, enabling them to connect to its trading […]
Nasdaq and Citi team up for blockchain-powered payments reconciliation
Nasdaq and Citi’s Treasury and Trade Solutions (TTS) have unveiled a new payment solution for automating reconciliation using Chain’s blockchain infrastructure platform. The solution enables straight through payment processing by using a distributed ledger to record and transmit payment instructions. A number of payment transactions have been done including Citi’s automated processing of cross-border payments […]
R3 rival Enterprise Ethereum Alliance expands in size
The Enterprise Ethereum Alliance (EEA) has seen a surge of interest in its plans to drive Ethereum blockchain technology best practices with the arrival of 86 new members. New faces include Broadridge, DTCC, Deloitte, Infosys, MUFG, National Bank of Canada, Rabobank and Samsung SDS. As Banking Technology reported in March, Banco Santander, BNY Mellon, Intel, […]
PayPal gets its fingers all over Google Chrome’s shopping
Android Pay users on Google Chrome mobile web can now pay online using their PayPal account and their fingerprint – without needing to enter in their username or password. As reported last month, Google inked several deals with PayPal (and banks) to advance its Android Pay, and this latest partnership expands it even more. Bill […]
Blockchain and Bitcoin round-up: 19 May 2017
It was only two days ago since the last blockchain and Bitcoin round-up, but here’s more news to keep you in the loop. Features Ripple, BitGo, Abu Dhabi Global Market, R3 and Corion. Ripple has enjoyed a good start to the year with ten more financial institutions recently jumping onboard its blockchain network; and deals […]
