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BNP Paribas Investment Partners live with Commcise commission management solution

Commcise has implemented its flagship cloud-based commission management software, CommciseBuy, at BNP Paribas Investment Partners (BNPP IP). The project covers the investment manager’s international network across Europe, North America and Asia Pacific. The new solution comprises “a complete multi-broker, multi-asset, integrated commission sharing agreement (CSA) and share-of-wallet hosted service”, says the vendor. Commcise also provided […]

Capital One - Fintech News

LendIt and Capital One launch fintech start-up competition

Lend me your ears… and eyes. LendIt and Capital One are to co-host PitchIt @ LendIt, a competition to “find a future star of the fintech world”. The competition is aimed at firms innovating within the online lending and fintech space. It provides a showcase for eight firms to pitch their business case to a […]

BGL BNP Paribas centralises securities ops on ERI’s Olympic core system

BGL BNP Paribas, a Luxembourg-based subsidiary of BNP Paribas, has gone live with a new centralised hub for securities processing. The technology that underpins it is the Olympic core banking system, supplied by banking tech vendor ERI. ERI is a long-standing supplier of core banking software to BNP Paribas’ wealth management and private banking businesses. […]

Banking on collaboration

The disruptive forces of technology and legislation are forcing banks to become open and collaborative, things which they historically found challenging. A friend who owns a small business recently went through what I call a “connected and choreographed” experience to get a loan. iWoka, a digital lending company, simply asked him to log on to […]

HSBC Zing

Smile and an HSBC account smiles with you

HSBC business customers can now open accounts using “selfie” verification, giving them the option to complete ID security checks on their mobile device. It says ID verification can be completed in a “few clicks” on an Apple or Android device. Once the initial headshot or selfie of a customer is captured, it is then assessed […]

Payments round-up: 2 September 2016

Time flies, so we’ve devised a quick fix. Here’s a round-up of key events in the payments space. In China, Qilong and Shenzhen Qianhai Exce-card Technology (SQEC) have formed a strategic agreement to co-ordinate with banks to issue China Union Pay audio bank cards. The latter make sounds when the buttons on the cards are […]

Yes Siri, payments get pretty

Apple’s developers are previewing new Siri integrations for payments – such as asking it to send a secure payment without ever opening an app. The firm says with the introduction of SiriKit for developers, messaging apps can now tap into the “power” of Siri. Siri can be used to make a quick payment using Square […]

Top fintech stories this week – 2 September 2016

Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Tier 1 US bank live with Temenos core and payments software Part of its American dream. Swift reveals more cyber thefts Private letter goes public. PhonePe and Yes Bank unveil India’s “first” UPI-based payments app Unified Payments Interface […]

Dai-ichi Life Vietnam Fund Management live with SS&C’s Portia

SS&C’s Portia platform now supports middle and back office operations at Dai-ichi Life Vietnam Fund Management. Portia is a long-standing investment management solution. It came SS&C’s way in 2012 via the acquisition of the Portia business from Thomson Reuters. SS&C paid $170 million for it. Dai-ichi Life was looking for “a proven investment management solution […]

Visa fintech news

BTL teams with Visa Europe Collab for blockchain settlement project

BTL Group is partnering with Visa Europe Collab to investigate potential applications for blockchain settlement in financial services. The project will use BTL’s cross-border settlement platform Interbit to explore the ways in which blockchain-based settlements can “reduce the friction” of domestic and cross border transfers between banks. A small number of European banks have been […]

Finacle core banking system available on Huawei FusionCloud

Infosys has partnered with Huawei to bring the Finacle core banking system to the Huawei FusionCloud. The two companies carried out a benchmarking activity under the observation of consultancy firm EY. The test was simulated on a Finacle database size of almost 1 TB, with 6,000+ branches, 33 million+ customers, 61 million+ accounts and 20,000+ […]

Viewpoint: Bitcoin After Brexit

A spike in bitcoin value after the U.K. voted to leave the European Union points to the digital currency being viewed as a safe haven for investors. But a recent bankruptcy case clouds the situation.

Viewpoint: Think Small to Battle Online Fraud

Too often, online merchants and their payment providers focus more on international orders than domestic transactions in the battle against fraud. But drilling down into ZIP codes and neighborhoods might be a wiser strategy.

Payments round-up: 1 September 2016

Brevity is the goal of this. Here’s a round-up of events in the payments space to save you time. Let’s start off small… as in Small World FS. The London-based payment service provider reached a milestone with 50 million transactions processed on behalf of its customers. The firm’s been around for ten tears and says […]

Defining fintech as an opportunity, not as a threat

“Silicon Valley is coming,” warned Jamie Dimon, JPMorgan Chase’s boss, in a recent letter to shareholders. It’s a sentiment echoed across much of the banking world at the moment. The idea that fintech is a threat to the financial services sector is bubbling – a 2015 PwC survey found 83% of financial services professionals were […]

Virtual bank accounts: forget what you thought you knew

Virtual bank accounts (VBAs) are a hot topic among the treasury community today. While you may have heard of VBAs before, their usage is rapidly evolving – and their benefits for treasurers continue to grow. Dick Oskam, global head of sales for transaction services at ING Bank, explains what VBAs are all about. In an increasingly […]

Worldpay launches IoT hackathon

Global payments provider Worldpay has teamed up with Consult Hyperion, MongoDB and Visa Europe Collab to host its first internet of things (IoT) hackathon in London in September. The event aims to foster innovation and encourage participants to apply technology to integrating payments. Two themes will flow through the 48-hour hackathon – the “Smart City” […]

Report: SWIFT Discloses More Attempts at Cyber Thefts

SWIFT, a Belgium-based, bank-owned co-op and provider of financial messaging services, said this week that criminals attacked the technology infrastructure of member banks even as the group sought to tighten up security in the wake of an $81 million cyber theft of Bangladesh Bank, according to an Aug. 31 report from Reuters.

CFPB: Prepaid Complaints Continue Decline in July

Prepaid card-related complaints to the CFPB ticked down in July, the bureau announced in its latest monthly consumer complaint report. The month saw 211 complaints about prepaid products, down 5 percent from 223 prepaid complaints in June and slightly below the monthly average of 215 since the CFPB began tracking prepaid complaints in July 2014.

Swift reveals more cyber thefts

Swift has revealed new hacking attacks on its members’ banks as it pressured them to comply with security procedures instituted after the heist at Bangladesh Bank, according to Reuters. In a private letter to clients, Swift says new cyber theft attempts – some of them successful – have appeared since June, when it last updated […]

Backbase and Entersekt partner for digital banking authentication

Digital banking software specialist Backbase has teamed with Entersekt to use its authentication capabilities on the Backbase Open Banking Marketplace. Backbase will offer banks push-based authentication and transaction signing integrated in its omni-channel digital banking platform. Its clients can select the authentication solution that “best meets their needs”. Dewald Nolte, Entersekt’s SVP partners and alliances, […]

People on the Move: Trent Sorbe, CFPB

Veteran financial services professional Trent Sorbe has accepted a two-year appointment to the Consumer Financial Protection Bureau (CFPB)’s Community Bank Advisory Council (CBAC).

People on the Move: Ivo Distelbrink, First Data

Payments technology and services provider First Data has named Ivo Distelbrink as the company’s executive vice president and head of its business in the Asia Pacific (APAC) region.

People on the Move: Chuck Carr, Payveris

Payveris, a provider of a cloud-based digital payment and money movement platforms for U.S. financial institutions, has named Chuck Carr senior vice president of product management.

People on the Move: Karim Ahmad, TSYS

People on the Move: Karim Ahmad, TSYS

Karim Ahmad, a veteran of the financial services and consulting industries, has been named executive vice president of global product and innovation for TSYS, effective Sept. 6.

Early Warning to Promote P2P Service, Changes clearXchange to Zelle

Early Warning, a provider of real-time payments, authentication and risk mitigation services, is preparing to raise the profile of its P2P payments platform clearXchange, upping the competition with Venmo, arguably the king of the hill in P2P payments. Competing with Venmo might seem daunting, considering its parent company is PayPal and its student-popular P2P service is currently free for people on both ends of the transaction.

Apple, Aussie Bank Battle Heats Up Down Under

Apple is pushing back against a bid by a group of Australia’s major banks to be allowed to negotiate collectively with the U.S-based tech giant over contactless payments. In a filing with the Australian Competition and Consumer Commission (ACCC) released Aug. 30, Apple called upon the regulator to reject a request by the banks to collectively bargain with Apple in negotiations to offer Apple Pay to their customers.

India’s Prepaid and Mobile Wallet Markets Keep Growing

Consumers in India made 18.29 million prepaid transactions in June, down 11 percent from 20.60 million in May but up nearly 127 percent from 8.06 in June 2015, according to figures from the Reserve Bank of India. The total prepaid transactions in June 2016 topped $342.7 million, up from approximately $252.6 million in June 2015.

Report: Indian Banks Prepare New Payments Apps

India’s fledgling mobile payments system, the Unified Payments Interface, has a head of steam behind it: An Aug. 30 story in Mashable said that some two dozen banks in the country are set to release UPI apps via Google Play in the coming days.

Profile Software’s IMSplus gains first client in Central America

Costa Rica-based BAC San Jose Puesto de Bolsa has chosen Profile Software’s IMSplus platform to manage its investment and client portfolio operations. This is Profile Software’s first client in the Central American region. Following an international vendor evaluation, BAC will use IMSplus for MIS (management information system) and customisable reporting capabilities; and monitoring of portfolio […]

Dassault Systemes launches KYC/AML challenge for start-ups

French software firm Dassault Systemes is inviting start-ups to apply to its “3D Fintech Challenge” to address anti-money laundering (AML) and Know Your Customer (KYC) issues. As part of its overall 3DExperience Lab initiative, the seven-week programme will identify and help nurture six start-ups that can provide systemic warnings and a 360-degree view of customer/support […]

Investments for real-time payment systems and migration to ISO 20022

Traditionally there weren’t any obligations for financial institutions to provide complete information on all parties in a payment process. Today, it is quite a different story. The initiator and receiver are responsible for reporting account numbers, names and addresses of remitters. There are even cases now where regulators may prevent banks from processing transactions when […]

RushCard Launches App Featuring Security, Pharmacy Discounts

After a tumultuous nearly year-long span in which UniRush LLC was making headlines stemming from a major service disruption to its RushCard GPR product last October, the company announced Aug. 29 positive news in the form of a new app it says has best-in-class security features and a pharmacy program providing discounted prescription medications.

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