Sudan’s Al Khaleej Bank selects Path Solutions and iMAL
Islamic bank looks to become leader in its market.
BankingTech
Kenya’s Standard Investment Bank plans $100m FX-focused fund
Mansa X as the fund is known, returned an average 24% and closed at $3 million.
Central Bank of Egypt pilots eKYC solution for financial inclusion
Egyptian regulator also plans internet banking overhaul.
EXCLUSIVE: Woodforest National to Implement Finxact on Microsoft Azure
Furthermore, US-based Finxact has also made its first core banking system sale abroad – in Thailand.
Nucleus Commercial Finance gains £25m funding line from Paragon Bank
SME lender plans to boost support for customers.
Rise of the machines: AI and machine learning in financial services
FinTech Futures launches its first industry report for 2020. Download it today!
White paper: Payments outsourcing – pros, cons & considerations that should be on your radar
Practical guidelines for banking institutions to consider when choosing a vendor.
Goldman won’t take companies public without at least one “diverse” board member
GS itself has four women on its board of directors, out of 11 total members.
Neocova gains $9.5m backing from community banks for AI-led tech
Vendor finds investment from six community banks.
Part two: Who is best positioned to provide marketplace banking?
Three strategies for standing out in a market: cost leadership, differentiation, and focus.
Video: Top fintech stories this week – 24 January 2020
FinTech Future’s weekly news round-up.
What does open finance mean for the wealth management sector?
Five opportunities that are both clearly beneficial for investors, and technically very feasible for FIs to develop.
Turkey’s Halkbank could pay $1bn in fines for court absence
The bank is facing criminal charges for helping Iran evade US economic sanctions.
Barclays signs tech partnership with invoice insurance firm Nimbla
UK bank to offer Nimbla technology to one million SME customers.
BNP Paribas extends open banking partnership with Tink
French banking group now deploys Tink in Belgium and Italy.
What the “decade of the data breach” can teach us
Organisations can simply no longer trust that an online user is who they claim to be.
Minnesota’s Sentry Bank selects CSI NuPoint
St. Cloud bank goes with CSI to power core processing and digital.
Monzo bank accused of “freezing accounts for no apparent reason”
A private Facebook group, “Monzo stole our money”, has grown to 1,080 members.
Living in the not knowing
Building the future is not about what you know. It’s about what you dare believe is possible.
RBS sees flurry of executives leave including BÓ’s CEO
The bank sees a major reshuffle under new chief Alison Rose.
Goldman cuts personal lending after launching Apple card
Its partnership with Apple has taken some of the momentum away from Marcus.
Central banks in Europe, Japan and Canada assess potential digital currencies
Central banks in Canada, the UK, Japan, Switzerland, and Sweden are teaming up.
Canada’s RBC files patents for AI inventions as bigtechs soar
Ten AI patent applications were submitted by RBC across 2019.
Greece’s major banks cancel 15,000 cards after travel website breach
“A few dozen” customers had been charged with transactions they never made.
Tonik digital bank selects Finastra Fusion Essence
The Philippines’ first digital bank selects its new core.
A thousand EU financial firms plan to open UK offices after Brexit
EY estimates that around 7,000 positions would be relocated from London to Europe.
Tink raises €90 million to power European expansion
Swedish open banking firm brings funding total close to the $200m mark
UK’s open banking tech hits one million customer milestone
The number doubled in the last six months.
Japan’s MUFG switches CEO after first year, digital chief takes control
The unusual decision points to the bank’s newly-placed importance on fintech.
Siemen’s Mendix builds Rabobank’s new banking portal RaboDirect
The new portal will process front and back-office transactions.
Part one: What is the best model for marketplace banking?
A two part series examining marketplace banking by Oliver Mitchell, CEO, Moneycado.
Video: Top fintech stories this week – 17 January 2020
FinTech Future’s weekly news round-up.
Atlantic Financial Group picks Oracle’s Flexcube
Another win for Oracle in Africa with Atlantic Financial Group.
PeoplesBank opts for Nymbus onboarding and marketing tech
Nymbus to underpin West Massachusetts’ largest community bank.
P&N Bank reveals customer data accessed in data breach
Names, addresses and bank balances may have been accessed in the breach.
Lloyds Bank teams with Microsoft to speed up its digital transformation
The partnership is part of the bank’s £3 billion commitment to technology investments.
When it comes to supporting the underbanked, the best solution might be a little old school
Community banks and the underbanked need one another.
US challenger Unifimoney signs integration deal with UMB Bank
US challenger inks deal with UMB for account infrastructure.
BBVA inks deal with Nok Nok Labs for FIDO authentication
Spanish giant looks to improve mobile channels.
Union Bank picks FIS to underpin digital transformation
MUFG-owned bank the first user of new FIS platform.
