US Eagle FCU partners Lumin Digital for digital banking
The New Mexico-based credit union has struck a multi-year deal with Lumin Digital.
BankingTech
LemFi taps ClearBank for agency banking services
The partnership aims to provide African migrants in the UK with “an alternative to traditional banking”.
Times of stress
The stresses of financial services have changed, proliferated and shifted, but never lifted.
CaixaBank forms GenAI task force with backing from Microsoft, Accenture and Banco BPI
The Valencia-based bank has dedicated a 100-strong team to explore new use cases for the technology.
Goldman Sachs reportedly names Paul Camp as new head of transaction banking
Camp previously served as head of global treasury management at Wells Fargo.
Former TD Bank exec Michael Rhodes appointed as new CEO and president of Discover Financial Services
Rhodes succeeds former CEO and president Roger Hochschild, who stepped down with immediate effect in August.
Banking Technology Magazine Dec 2023 / Jan 2024 issue out now
Cover story: THE BEST OF BANKING TECH – Winners and pictures from an amazing night.
Banco Santander migrates corporate and investment banking business to the cloud
Santander intends to complete its group-wide migration to the cloud by the end of next year.
Reserve Bank of India outlines plans for new fintech repository and cloud facility for FS firms
The new measures also address “moral hazard issues” in lending and boost certain transaction limits.
Marsden Building Society taps Jade ThirdEye for AML tech
The firm will deploy Jade ThirdEye’s Transaction Monitoring and Customer Screening solution.
Hungary’s OTP Bank taps iGCB for core banking revamp
OTP Bank has selected the vendor’s Intellect Digital Core (IDC) offering and lending platform.
Report: Trends in technology for the wealth management community
Delving into the wealth management industry issues, competing priorities, budget, expertise and culture – now and in the future.
Elemi Bank applies to FDIC and seeks $25m in capital to launch corporate offering
The bank is expected to establish itself as a state-chartered, corporate bank with a B2B offering.
US OCC highlights key risks to federal banking system in latest report
The report also covers the current market, credit and compliance risks being faced by FIs.
Building a world for the 99%
We have the technology to create a more supportive ecosystem for millions of SMEs worldwide.
UK’s FCA proposes new rules to protect access to cash
The regulator says designated banks and building societies need to assess the gaps in access to cash.
UK regulators issue joint proposals to tackle risk of financial instability posed by CTP dependency
The regulators are accepting feedback and expect to publish final requirements by H2 2024.
The perspective on AI from Abu Dhabi Finance Week 2023
I truly believe that 2024 is the year that GenAI goes from talk to action.
Coventry Building Society reportedly eyeing Co-operative Bank takeover
Sky News reports that if the deal goes through, the combined entities will manage nearly £90bn in assets.
And sometimes… less is just less
Doing more with less often reaches a point where it is no longer possible.
Canadian regulator fines RBC $5.5m for “administrative violations” of its AML rules
FINTRAC says it uncovered three administrative violations by RBC during an examination last year.
Demystify Podcast: Demystifying BaaS banking with NatWest Boxed
Demystifying what is holding BaaS back from broader adoption and what it takes to create a successful BaaS venture.
Crédit Agricole CIB taps Opensee for market risk management solution
The solution works to consolidate the bank’s previously fragmented data sets for its global markets business lines.
The future of financial wellness: banks need to do more to support Gen Z in 2024
Gen Z is facing the bleakest financial outlook of any generation for the last century.
IDB Invest and IFC team up to launch the Amazon Finance Network
The global network aims to boost the economic development of the Amazon region.
Monzo co-founder Jonas Templestein departs after nine years
Templestein shared a letter he sent to his co-workers announcing his departure last week.
Credit Union 1 migrates core to Jack Henry’s Symitar platform
Jack Henry says its open banking infrastructure was the decisive factor for CU1 to migrate its core.
Italian competition authority interrupts migration of 2.4m Intesa Sanpaolo accounts to Isybank
The watchdog says more than 5,000 of Intesa Sanpaolo’s own customers sought its intervention.
UK fintech Plum signs strategic partnership with Greece’s Eurobank, lands €10m investment
Plum intends to grow its presence in Greece as well as the surrounding region.
Eurosystem eyes up alternative payment solutions in latest retail payments strategy update
The aim of the strategy is to “develop pan-European solutions for payments at the point of interaction”.
Valley Bank CIO Stuart Cook leaves to join start-up True Digital Network as CEO
Cook previously served as chief innovation officer at Valley National Bank for 11 months.
Congratulations to the winners of the Banking Tech Awards 2023
Check out the winners and highly commended from the 24th annual Banking Tech Awards ceremony.
Why AI won’t solve legacy problems
Not every problem is a nail that needs a hammer when it comes to AI.
Metro Bank to axe 20% of jobs and review branch opening hours in push to cut costs
The bank is due to cut around 800 jobs as it looks to save up to £50 million per year in costs.
UK challenger Aldermore Bank enters strategic partnership with Mambu
Aldermore joins 18 regulated UK banks and 22 non-bank lenders and EMIs which run on Mambu.
The ‘Boots’ theory of socioeconomic unfairness
The people who need fair credit products the most may not have access. That’s economic unfairness.
Apple’s partnership with Goldman Sachs is reportedly nearing its end
Apple has reportedly proposed ending its partnership with Goldman Sachs within the next 12 to 15 months.
State of play: GenAI in financial services
Generative AI is currently in the ‘experimental phase’ in the financial services industry.
HSBC appoints CEO and COO for new embedded finance JV
HSBC executives Vinay Mendonca and Shehan Silva have been appointed as CEO and COO of the new JV, respectively.
Codebase launches BaaS solution in Egypt with Visa and eFinance
The BaaS model will enable Egypt’s non-bank firms to integrate banking services into their product lines.
