Luminor Bank deploys facial recognition for customer onboarding with Ondato
The Baltic bank will launch the new solution across Latvia and Estonia in the near future.
BankingTech
Path Solutions and Thomson Reuters extends GCC systems partnership
iMAL core banking and Onesource tax solutions to be offered in tandem.
IHS Markit acquires Singapore-based Catena Technologies
Previously a fintech consultancy, Catena was overhauled in 2014.
Three ways to optimise the finance function during COVID-19
It’s important to find areas of your business that can create positive returns.
The State of Digital Transformation in Financial Services 2020
Digital transformation today needs a balance between ongoing tech innovation and development of new skills.
COVID-19: Highlight of the week
We focus one particular coronavirus news item affecting the fintech industry.
NatWest extends 7-year Artesian contract
The vendor will continue to provide its customer insights and relationship systems.
Monzo appoints Sujata Bhatia as its new COO
Prior to Monzo, Bhatia spent almost 16 years at American Express.
SoftBank warns of $9.6bn investment losses due to coronavirus
In addition to WeWork, it also blamed the losses outside of the Vision Fund on OneWeb.
Leon Muis of YTS: “Open banking paves the way for open finance & open data”
Yolt’s chief business officer unpacks his thoughts on Brexit & the future of finance.
Video: Top fintech stories this week – 01 May 2020
FinTech Futures’ weekly news round-up.
What the Fintech? Episode 4 | Partnerships: till death do us part
Sean Hunter CIO at OakNorth, offers his advice to companies struggling to make a partnership work.
RBS closes digital bank Bó six months after launch
Customers will be given a notice of “at least” 60 days before their accounts are closed.
ABA unveils suite of core banking selection resources
US association continues campaign to diversify core banking market.
US challenger Bambu picks FIS Modern Banking Platform
Tennessee-based challenger bank plans to target the underbanked.
Contactless payments are up but UK still withdrawing £1bn a week from ATMs
The average value being withdrawn has gone up from £65 to £82.
Tide picks Mambu to power credit facilities and overdrafts
Tide is revamping its customer offerings and adding new functionality with Mambu.
Santander finalises £350m deal for majority share of Ebury
The Spanish bank purchased a 50.1% stake in the international payments and FX firm.
Temenos rolls out its Financial Crime Mitigation tool on Microsoft Azure
“The cloud is a big investment for us, as we believe it’s the future.”
Everything I ever needed to know, I learned from the West Wing
We don’t do nearly enough. We can do better and we must do better and we WILL do better.
Hanley Economic Building Society seeks technology refresh with DPR
The building society refits 25-year-old core systems.
NatWest Markets selects Dataiku for self-service analytics and machine learning
Investment banking firm seeks to improve customer experience and improve efficiency.
Bankers blindsided by £50K loan limit under UK bounce back scheme
Senior bankers had worked over the weekend on the basis that the ceiling would be £25k.
HSBC freezes redundancy plans as COVID-19 hits $6bn overhaul
London-headquartered bank releases Q1 earnings with stark warning for Europe.
Former Oracle VP Smedley joins Red Hat
Smedley joins IBM-acquired Red Hat after 18 years at Oracle.
Owning customer relationships is a key priority for banks in the era of open banking
The number one concern, unsurprisingly, is ensuring online security.
US banks roll back lending to European companies
“We are increasingly observing an ‘America first’ attitude among large US banks.”
Russia’s VTB set to expand C2C to 160 corridors by Q3
Currently its C2C service is available in 20 countries.
NatWest taps Lloyds exec Jen Tippin for chief transformation role
The new hire is set to go through in late 2020 following regulatory approval.
Northern Trust hires Alison Pain as new EMEA CTO
Pain joins from Deutsche Bank and will lead Northern Trust’s EMEA tech ops.
Cross River Bank raises $100m in Series C funding
The latest round will see Cross River Bank offer tech to venture capital firm in Malaysia.
RBS unveils ‘companion card’ to help vulnerable customers during lockdown
The card has a £100 limit which can be refreshed every five days.
Video: Top fintech stories this week – 24 April 2020
FinTech Futures’ weekly news round-up.
Barclays launches CLBIL scheme amid coronavirus
Barclays is extending its support to businesses not covered by CBILS or CFF.
Temenos rolls out AI models to help banks lend quicker during coronavirus
“Our AI can expedite accurate decision making and help the front line staff,” says Temenos.
Will America’s second round of PPP avoid mistakes of the first?
Roughly 80% of PPP applicants are still waiting on loans, says NFIB.
Yemen’s Al Kuraimi Islamic Bank selects Temenos for digital banking
KIB currently serves 1.2 million customers.
Three US credit unions pick Bankjoy for mobile and online banking
The three institutions hold a combined $280 million.
The future of commercial lending lies in leveraging AI to enhance humans
Humans have been completely removed from the decision workflow and replaced by technology.
The in-between places
#LedaWrites has given me an expansive place where I could reflect, peel back and grow.
