State of play: core banking
Investment in core banking technology will continue to be the utmost priority for the industry.
BankingTech
PostFinance overhauls disputes management tech with new Rivero collaboration
The arrangement will see the bank leverage the Zurich-based start-up’s SaaS solution Amiko.
Can’t touch this
Touchpoints with customers are not a good thing. Stop counting them. Stop wanting them.
Oman Housing Bank selects Temenos for core banking upgrade
The OHB offers government-subsidised housing loans to low and middle income groups.
First Abu Dhabi Bank partners Microsoft to develop new AI-powered banking capabilities
Banking-as-a-Service and Risk-as-a-Service have been cited as two “potential areas of collaboration”.
Banking Technology Magazine April 2024 issue out now
Core story: GOLD GETTERS – The Olympics and fintech make the perfect team.
MAS unveils new Cosmic platform to help banks defend against terrorism financing and money laundering
Cosmic was co-developed by MAS and six banks – Citibank, DBS, HSBC, OCBC, UOB, and Standard Chartered.
Mutual Trust Bank in Bangladesh partners IDEX Biometrics for new payment card security feature
The bank has tapped its partner’s IDEX Pay solution to install fingerprint sensors into its physical card offering.
Former Goldman Sachs director Swati Bhatia joins Santander Bank as head of retail banking and transformation
Bhatia counts the likes of Stripe, PayPal and Capital One among her previous employers.
Australian banking software vendor Constantinople bags $33m in Series A round
The new cash injection adds to the $20 million Constantinople previously raised via its May 2022 seed round.
Westpac set to invest billions of dollars to fuel bank-wide tech overhaul
Westpac’s current stack “isn’t older or less capable than peers… we just have too much of it”, according to its CEO.
US-based NWSB taps Apiture to upgrade digital banking capabilities
The community bank will implement Apiture’s Digital Banking Platform offering alongside a number of other solutions.
Human connection in the age of AI
Even in the age of an AI arms race, we can still reclaim what is uniquely human: our empathy.
Discover Financial Services exec Michael Rhodes to take the lead at Ally Financial as new CEO
Ally Financial has been on the hunt for a new CEO since the departure of Jeffrey Brown in January.
Missouri’s Central Bank taps Personetics for AI-powered money management solution
The bank is looking to expand its digital financial wellness offerings for its retail customers.
New core banking system, Vilja, comes to the UK from Sweden
Vilja is entering the UK market via a partnership with local mortgage origination platform, Mast.
If Mary has three apples…
Always measure opportunity cost. What are you not doing while you are doing what you are doing?
Anext Bank in Singapore reportedly receives another $148m investment from parent company Ant Group
DealStreetAsia reports that Ant Group has now invested over $500 million in total in Anext Bank.
Tide names former SVP George Schmidt as new regional CEO for UK and Europe
Schmidt will be responsible for leading Tide’s recently announced expansion into the German market.
UK’s Co-operative Bank to cut 400 jobs as part of cost reduction programme
Due to impact 12% of its total workforce, the proposed job cuts will take effect from 7 May.
Denmark’s Danske Bank enters multi-year cloud partnership with AWS
Danske Bank will migrate selected legacy applications, data, and infrastructure to the AWS cloud.
Redwood Bank names David Kennedy as new chief operating officer
Kennedy has previously held leadership positions at Lloyds, Barclays, Shawbrook Bank and Masthaven Bank.
Indochina Bank to implement Flexcube core banking system
Laos-based Indochina Bank is modernising its core technology with Oracle FS and Techzone.
Baader Bank modernises regulatory trade and transaction reporting with Broadridge
Baader Bank already uses Broadridge’s solutions for trading and market connectivity, and order management.
Mobile banking app for kids and teens, Cashee, to launch in Saudi Arabia
Cashee will provide a free banking app and a prepaid Visa card, issued by Arab National Bank (ANB).
BNY Mellon deploys AI supercomputer from Nvidia
BNY Mellon has deployed Nvidia’s supercomputer, DGX SuperPOD with DGX H100 systems.
Cloud banking: 60 years on
Cloud is all the rage again, and the advantages for banks of being truly cloud native are huge.
Finalists announced for Banking Tech Awards USA 2024
Winners of this year’s awards will be announced at a gala dinner ceremony in New York on 30 May.
IndusInd Bank partners Tappy Technologies and Thales to launch tokenisation solution for wearable payments
The Indus PayWear app will enable the bank’s customers to tokenise their cards for use with wearables.
The procurement saints
Procurement buddies, those workday saints, have always been what separates a good day from a terrible one.
US-based Central Bank taps TCS for core banking upgrade
The Missouri-headquartered bank will deploy the vendor’s flagship TCS Bancs core banking system.
Video: ABN Amro at FinovateEurope 2024 – Keeping up with technological change
Edwin van Bommel of ABN Amro discusses the key areas banks should be targeting with their transformation projects.
Copper State Credit Union selects Jack Henry as new enterprise technology provider
The Arizona-based credit union is consolidating its tech infrastructure under one platform.
Nationwide partners Signly to offer British Sign Language website translation service for deaf customers
Nationwide’s BSL website content is to be provided “in the form of pre-recorded signed videos”.
Cloud banking tech provider nCino acquires DocFox to streamline account opening
DocFox provides account opening software built to help simplify the customer onboarding process.
Country Builders Bank in the Philippines selects Kiya.ai for banking tech upgrade
CBB hopes the partnership will help boost its operational efficiency and growth.
Video: ING at FinovateEurope 2024 – Digital transformation trends
Marco Eijsackers of ING discusses the key digital transformation trends across financial services.
Regional Federal Credit Union partners Sharetec for core processing
Sharetec’s Velocity solution will be deployed to replace the credit union’s existing in-house core system.
SaaScada selected to power payment products for UK EMI The Payment Firm
The EMI will initially leverage its partner’s core banking engine to launch virtual IBAN-linked accounts.
JP Morgan Chase hit with $348m in fines related to its trade surveillance programme
The fines were issued by the the Office of the Comptroller of the Currency and the US Federal Reserve.
