Silvergate to pay $63m in penalties to settle with US regulators
Silvergate announced it was winding down crypto-focused Silvergate Bank in March 2023.
BankingTech
Video: ING at Money20/20 Europe – Riding the second wave of AI transformation
Bahadir Yilmaz, chief analytics officer at ING, discusses how the Dutch banking giant is executing its AI strategy.
Last chance to register for Banking Tech Insights on 11 July in London
Join us on 11 July for an exclusive half-day event around building a modern tech stack at financial institutions.
Greek neobank Snappi lands banking licence from the ECB
Snappi is a joint venture between Piraeus Bank and core banking software vendor Natech.
UK challenger Oxbury Bank announces first full year of profitability
Oxbury Bank claims to be one of the fastest UK fintechs to reach full annual profitability.
BIS readies for live implementation of Project Nexus in Asia
Institutions from India, Malaysia, the Philippines, Singapore, and Thailand will implement the project.
Bank of Ireland seeks to fill 100 technology roles to support new digital projects
The bank is seeking to expand its workforce in cybersecurity, delivery management, data, engineering and resilience.
Revolut announces record $545m profit for 2023
Revolut’s revenue surged by 95% over the year, from $1.1 billion in 2022 to $2.2 billion in 2023.
US FDIC issues consent order to Thread Bank
The consent order, effective 21 May, mandates Thread Bank to enhance its oversight of its BaaS programme.
CTBC Bank goes live with Avaloq core in Hong Kong and Singapore after three-year implementation
The bank first selected Avaloq to power its private banking businesses in Singapore and Hong Kong in 2021.
Is your bank’s architecture trapped in the past? It’s time to recompose it
European banks must accelerate their journey to recompose architecture, with AI and GenAI as differentiators.
Kuwait’s central bank approves launch of new WAMD instant payments system
The system is facilitated by the K-Net national payment gateway under the supervision of the Central Bank of Kuwait.
UK challenger Atom Bank hires Gareth Jones as new chief risk officer
Jones is to replace Chris Sparks, who is set to retire after nine years at the company.
Canadian credit union Vancity lays off 7% of workforce
The cuts, actioned by president and CEO Wellington Holbrook, have resulted in the loss of almost 200 positions.
The rise of instant payments: protecting consumers from criminals in 10 seconds
How can financial institutions strike a balance between speed and safety with instant payments?
ECB publishes progress update on digital euro preparation phase
Privacy, offline functionality and possession caps are the key focus points of the progress report.
Canada’s Haventree Bank partners Temenos for new core banking platform
Haventree serves the Canadian alternative mortgage sector through the broker network.
Raiffeisen Bank International opts for Surecomp’s collaborative trade finance platform
The Austrian bank will utilise RIVO to digitise its processes for guarantees and letters of credit.
Mirror, mirror on the wall, who has the best core of them all?
As the rate of change increases, a bank’s ability to adapt becomes even more important.
Washington’s Industrial Credit Union selects Mahalo Banking to enhance digital banking experience
The partnership seeks to “deliver an optimised member-centric experience”.
Brazil’s Nubank buys AI-powered data intelligence start-up Hyperplane
Nubank plans to harness Hyperplane’s AI expertise to enhance its core machine learning capabilities.
Frost Bank in Texas taps Finzly for instant payments
The San Antonio-based bank has deployed the vendor’s single API instant payments platform.
June 2024: Top five payments stories of the month
FinTech Futures takes a look back at five of the top payments stories during June.
The day after the glitzy trade show is never a good day
If you want to participate in the future, you have to let go of the past.
Mashreq to roll out Flexcube core banking system across global operations
Flexcube will be implemented at Mashreq’s international hubs in Hong Kong, the US and the UK.
June 2024: Top five core banking stories of the month
FinTech Futures takes a look back at five of the top core banking stories of the month.
Canada’s Vancity taps Intellect Design Arena for digital engagement upgrade
Vancity has selected the vendor’s DEP and CBX solutions to digitise member engagement.
Bank Midwest launches new digital bank for US healthcare industry powered by Finastra
Bank Midwest says OnePlace.bank will be “a natural progression” of its OnePlace Capital division.
June 2024: Top five new fintech launches of the month
FinTech Futures takes a look back at five of the top new launches in June.
Virgin Money taps Experian to streamline digital customer experience
Virgin Money says it plans to use Experian’s “full breadth of services” to enhance “all product lines”.
The consumer credit applications of open finance: a snapshot
Open finance has the potential to help consumers take control of their financial lives.
Lloyds Banking Group expands card and payments partnership with Visa in the UK
The partnership will serve the group’s Lloyds Bank, Halifax, Bank of Scotland and MBNA brands in the UK.
Italian fintech Banca AideXa secures €16m capital raise
The fresh investment brings the fintech’s total capital raised to date to €96 million.
Commerzbank to launch digital credit cards for businesses with Pliant
The offering is expected to launch in Q3 2024.
FreeBnk partners E Money Network to issue blockchain-based IBANs
The partnership is set to enable blockchain-based international money transfers.
Backbase hires Chris Shayan to lead integration of AI into Engagement Banking platform
Shayan will head the integration of LLMs into the fintech’s Engagement Banking platform.
Video: BNY Mellon at FinovateSpring 2024 – Working with early-stage tech companies
Dexter Wilson of BNY Mellon discuses the process of collaborating with early-stage technology companies.
Video: Fremont Bank at FinovateSpring 2024 – Harnessing AI to augment a bank’s customer experience
Vivian Yeung from Fremont Bank chats about how AI has transformed the financial services sector.
Sainsbury’s sells core banking business to NatWest
The deal includes the retailer’s personal loan, credit card and retail deposit portfolios.
Reserve Bank of Australia set to conduct “holistic review” of retail payments regulation
The review will begin after the Australian government evaluates the Payment Systems Regulation Act 1998.
