Banks must empower SME clients with more than a repackaged retail account
“Once you strip back a lot of the functionality in retail banking it’s more about experience than solving issues.”
Partnerships
Citi invests in markets software firm Genesis Global Technology
The undisclosed strategic injection sees Citi deploy some Genesis tech.
Sibos 2020: Banks must persevere with difficult fintech partnerships
CommBank CEO CommBank says all deals are valuable learning opportunities
Bank of Thailand launches “world’s first” blockchain platform for bond issuance
IBM acted as a technology partner with its IBM Cloud.
The value of 20/20 hindsight
Anders la Cour, co-founder and CEO of Banking Circle, examines the lessons of 2020.
Digitalisation Component Framework: an inside-out approach to digital transformation
Discover new areas where automation can be implemented & improve efficiencies without replacing existing systems.
Video: Top fintech stories this week – 02 October 2020
FinTech Futures’ weekly news round-up.
Swift launches project for “brilliantly simple” SME cross-border payments
The messaging and infrastructure network makes next step in new strategy.
Mastercard and ACI sign payments infrastructure partnership
The pair are targeting central banks, schemes, and service providers.
Old dogs, new tricks and procurement
It’s time for the banks to work together to standardise their onboarding processes and documentation for fintechs.
PayTech Awards 2020 now on YouTube: celebrity host, comedy stand-up, winners and more!
Watch Zoe Lyons perform her stand-up and unveil the winning projects, companies and people of PayTech Awards 2020.
Crown Agents Bank pens Vodacom mobile payments partnership
The bank extends its services to a potential pool of 13.4m customers.
Bank of Baroda searches for new digital lending platform
Bank of Baroda searches for new digital lending platform.
Trio of European start-ups raise fresh funding
Factris, KodyPay, and Swan all complete funding rounds this week.
Yandex plans $5.5bn acquisition of Russian neobank Tinkoff
Russian tech giant plans to snap up the country’s largest online bank.
Goldman Sachs launches transaction banking service with Volante
The new cloud-based system is an “industry first” according to the pair.
Knowing how the story ends
“Where do I begin?” If you have ever asked me, you know my answer is always the same: in the middle.
Live Oak Bank deploys Finxact core for deposits and loans
The US lender picked Finxact in 2018 to revamp its core systems.
ClearBank offers multi-currency accounts through JP Morgan API
UK clearing bank claims to be the first of its kind to provide the service.
Competition concerns over fintech acquisitions
The CMA’s concern with mergers and acquisitions is to do with the potential impact on UK customers.
Trio of UAE banks go live with klip digital wallet solution
Klip uses QR tech to enable contactless payments.
West African microfinance confederation goes live with SAB’s AT
SAB AT rolling out across six institutions in five West African countries.
Subaio launches outside Nordic home with ABN Amro
To date, the 25-person fintech has signed contracts with seven banks.
Emirates NBD deploys new payments hub with TCS Bancs
The UAE bank goes live on TCS Bancs after kicking off the project in 2019.
EXCLUSIVE: Oracle wins deals with Mashreq Bank and Desjardins
Oracle has also picked up a new deal in Bangladesh.
European Commission resumes LSE-Refinitiv antitrust probe
The EC had paused proceedings in July as it waited for data.
Refinitiv and Microsoft agree on Azure partnership
Microsoft’s flagship cloud platform to support Refinitiv going forward.
One more time, till you’ve got this
It’s time to pay it forward. To the next guy and gal.
TrueMoney partners with Thunes to activate global remittances
Thunes claims to work with partners in more than 100 countries.
UK Finance scheme stops £19m of fraud in 2020
The Banking Protocol teams up police and bank staff to stop fraudsters in branches.
Banking Technology September 2020 issue out now
Tipping point: Google vs Oracle showdown.
Form3, Countingup and PPS create new SME offering
The SME market contributes around £2 trillion a year to the UK economy.
Ohpen acquires cross-border mortgage vendor Davinci
Dutch technology firm plans international expansion with new suite of products.
WorldRemit partners with Juba Express on Somali remittance services
Somalis emigrates send $1.4 billion back home every year.
Vanquis Bank partners with NatWest’s Payit
Payit was built by London-based, RBS-backed fintech, Pollinate.
Swedish Export Credit Corporation picks FIS for loan origination
SEK picks Commercial Loan Origination and FIS Ambit.
Wells Fargo extends 25-year processing partnership with TSYS
US bank resigns for TSYS payments technology.
Cornerstone Brands plans acquisition of FXPress Payment Services
Men’s toiletries brand makes a move into payments.
ABN Amro partners with Techstars to create start-up accelerator
The collaboration will connect ABN Amro with Techstars’ global network.
Worldremit acquires fellow remittance firm Sendwave
Sendwave has a presence in East and West Africa.
