Wells Fargo mulls job cuts amid loan losses
The major US bank is looking at a strategic overhaul.
BankingTech
Metro Bank snaps up former Co-operative chief risk officer
Richard Lees will join Metro after four years at his current employer.
Lloyds partners with Swedish fintech to offer subscription management
The bank is currently in pilot stage.
RBC commits CAD 150 million to diversity push
It aims to increase the proportion of non-white executive hires to 30% from 20%.
Major Dutch banks launch AML joint venture
Rabobank, ING, ABN Amro, Triodos Bank, and de Volksbank make AML move.
Lithuania’s central bank launches e-shop for digital collector coins
Some 4,000 digital LBCOINs will go on sale via the bank’s e-shop from 23 July.
SoFi files banking charter application with OCC
The $4.3 billion fintech wants to take another crack at banking.
Ziraat Bank Greece switches to Natech banking suite
Ziraat’s new tech – Natech Core Banking CSB2 and Poseidon AML – reduced IT costs and operational complexity.
Five ways it pays to go beyond ID-only verification
Identity verification serves many benefits to organisations seeking to build trust in their online channels.
Why remote onboarding is going to make or break banks
A number of onboarding steps can be automated, streamlined and simplified to deliver a better customer experience.
Video: Top fintech stories this week – 10 July 2020
FinTech Futures’ weekly news round-up.
Banking Technology July/August 2020 issue out now
Unlocking the benefits of open banking.
ClearBank hires new CFO and CIO
UK clearing bank adds two to executive ranks.
HSBC France to cut 38% of global banking and markets jobs
It’s seeking to cut 255 of 678 jobs by the end-2021 as part of a broader plan to reduce costs.
Bankjoy signs up two new credit union customers
Bankjoy has announced nine new CU customers in 2020 so far.
ASB Bank replaces legacy trade finance system with CGI’s Trade360
The New Zealand bank is deploying the platform on the cloud.
Forte Securities picks Profile Software’s Axia
London-based broker selects Profile to power custody services.
Report: A new decade of core banking transformation
A new FinTech Futures report examining the role of core banking in the industry today.
Deutsche Bank faces $150m fine for Jeffrey Epstein ties
“The bank’s failure to recognise this risk constitutes a major compliance failure.”
Barclaycard and SAP extend partnership to combine Commerce Cloud and Smartpay
This is the second integration of systems between the pair.
JP Morgan drops “master” and “slave” from internal tech code and materials
Some Black tech developers have criticised this move as “performative activism”.
Sèvis Finansye Fonkoze upgrades core systems with Temenos and SG NewTech
The Haitian microfinance firm is upgrading its Temenos IBS system.
HSBC glitch sends coronavirus bounce back loans in error
UK bank has processed £4.5bn in loans so far in 2020.
Belgian cooperative NewB picks Wolters Kluwer’s OneSumX
The new Belgian bank wants OneSumX to manage its ALM ops.
The pretence of invincibility
Everything we do in business is in pursuit of relevance.
Commerzbank plans 10,000 job cuts as CEO and chairman step down
Shareholder pressure saw Martin Zielke and Stefan Schmittmann depart earlier this week.
Instapay Technologies partners with Mastercard to support Malaysian migrant workers
Instapay Technologies is looking for 100,000 new users in the first year.
LIBOR transition: everything you need to know
How NIIT Technologies is supporting businesses grappling with LIBOR transition.
Liechtenstein’s VP Bank bags fintech CEO for client solutions unit
Thomas von Hohenhau is the Swiss CEO of Hamburg-based fintech Deposit Solutions.
Virgin Money restarts planned job cuts and branch closures
The UK bank’s plans had been put on hold by COVID-19.
Deutsche Bank signs Google Cloud strategic partnership
Deutsche picks Google after five-month negotiation period.
The Peoples Community Bank picks Finastra for new core system
Fusion Phoenix deployed at Wisconsin-based bank.
White paper: Three key trends driving financial services IT transformation
How financial institutions can become more customer-centric, leverage hybrid IT infrastructure, and avoid vendor lock-in.
National Bank of Pakistan modernises pool management
The upgrade “promises to set an industry standard for Islamic banking in the country”.
Lloyds CEO António Horta-Osório to step down in 2021
“Mixed emotions” for Horta-Osório as Lloyds announces new chairman.
Commerzbank fined €650k by Cypriot regulator
German bank sanctioned in relation to dealings with now-defunct Laika
How open is open banking?
If open banking was to deliver on its promise, the opportunity for growth would be enormous.
Introducing CRUX Digital Days – getting the crux of the tech matter
What’s shaping the financial services technology industry of today and what awaits it tomorrow?
Monzo’s co-founder Tom Blomfield leaves its board
According to a Companies House filing, his termination occurred on 17 June 2020.
Regional Australia Bank approves first Aussie open banking loan
The process took six minutes end-to-end, claims bank.
