UK firms struggling to meet Mifid II reporting requirements
A fifth of investment firms are failing to report properly.
BankingTech
BNY Mellon connects custody capabilities with SimCorp to improve data transparency
BNY Mellon and SimCorp expect mutual global clients out of the partnership
FCA hands out record level of fines in 2019
UK watchdog has handed out £391 million in fines so far in 2019.
US challenger Unifimoney launched by former Samsung Pay exec
The new bank is aiming for a 2020 launch.
Systems integration: A path to improved speed, efficiency and value
System integration bridges disparate platforms so they are better connected and seamless
Oracle veteran Atherton joins ACI Worldwide
New hire joins ACI Worldwide after 14 years at Oracle.
Hungary’s central bank says major lenders could be “forced out” by fintechs
The bank mentions the pressures on revenues in a low yield environment.
UK regulators take aim at banks’ IT failures
The FCA, PRA and Bank of England have published a paper on operational resilience
Video: Top fintech stories this week – 06 December 2019
FinTech Future’s weekly news round-up.
Finra selects Amazon Web Services to power CAT processing
The regulator has selected a bevy of Amazon solutions.
CWB Financial Group selects Temenos Infinity for front office ops
The Canadian firm also deploys Temenos T24 in the core.
State Street cuts blockchain developers in potential strategy change
The firm looks to be moving away from a front-to-back DLT implementation.
French challenger Moneway aims to help users control their finances
Countryside neobank preparing to move out of beta.
TSB selects Iress Lender Connect to boost brokerage
Iress calls the deal the first it has signed with a “top tier” bank
Italy’s largest bank UniCredit to cut 8,000 jobs by 2023 to reward shareholders
The bank wants to reach a 2023 revenue target of €19.3 billion.
Regulators need to provide clarity on Libor cessation, says ISDA
ISDA writes letter to FCA asking for greater information on Libor phase-out.
Appian Europe 2019: KPMG says banks’ digital literacy is “very low”
KPMG says 80% of bank employees don’t know what unstructured data is.
Temenos inks deal with Egyptian National Post
The firm will be replacing 20 legacy systems in the process.
Staying the course: CTOs in shining armour
Corporate troublemakers, dreamers and challengers rely on a good CTO.
US DOJ digs deeper into Deutsche role in Danske money laundering scandal
Deutsche officials were made aware that the scope of the DoJ probe had broadened.
BCBS: Bank supervisors must pay greater attention to APIs and open banking risks
Open banking comes with benefits to banks but also various challenges.
Wells Fargo hires Santander’s US chief as new COO
Scott Powell will be the bank’s new chief operating officer.
Monzo hires Visa exec to lead US push
TS Anil will join the digital bank early next year.
Hong Kong’s Hang Seng Bank to unveil 600 cardless ATMs
The ATMs will use contactless technology and QR codes.
South Korea to launch open banking system this month
5.51 million open banking accounts have now been registered.
Klarna selects Amazon Web Services as preferred cloud provider
Swedish banking and payment firm puts AWS at the centre of new strategy.
TCS migrates ABCUL credit unions to Bancs on the cloud
Voyager Alliance, East London and RetailCURe moved to the new platform.
Emirates NBD slashes 400 staff to cut costs
Dubai-based bank has been on a technology tear of late.
HSBC and Santander to refund customers after breaking CMA rules
The banks failed to message users going into their overdrafts.
Turkish banks and FIs sign majority stake in JCR Eurasia
Turkey seems to be establishing a national credit rating agency.
Where has trust gone – can banks even recover their standing in the community?
Traditional banks might find themselves facing a future where the front doors are locked for them!
Video: Top fintech stories this week – 29 November 2019
FinTech Future’s weekly news round-up.
Natwest outage stops customers spending savings and payday wages on Black Friday
Some customers said they couldn’t get cash out of ATMs either.
Middlegame Ventures reaches first close of €150 million for investment in early-stage fintechs
New venture fund wants to empower fresh innovation.
Russia’s Sberbank inks contract with driverless car tech firm
The Russian bank will challenge Yandex which currently has the monopoly.
IMF to put Nordic banks’ AML controls under microscope
International regulator investigates banks’ alleged failings.
Nile Bank selects Oracle as new core banking provider
Implementation partner Profinch to ensure deployment.
Positive Money targets UK swing seats hit hardest by free ATM losses
Labour could grab six seats and the Conservatives could grab five.
Easing the cloud transition using microservices, containers and Kubernetes
The first step is to build new applications using these new architectures.
Atom Asset Exchange joins LSE partner platform
AAX set to become first crypto exchange on the program.
