When goals become aspirations, where does that leave us?
Fundamentally, I believe that businesses can be an important force to drive societal change.
BankingTech
Barclays acquires Tesco Bank for £600m
Barclays says it will “welcome approximately 2,800 Tesco colleagues” as part of the deal.
Germany’s Commerzbank taps Surecomp to revamp trade finance back office
The Frankfurt-based commercial bank has adopted the vendor’s DOKA-NG solution.
It’s time for core banking to get real
There are huge opportunities for real-time banking to hyper-personalise banking.
New private bank Volans gears up for launch in Australia
Volans aims to become Australia’s number one private bank before taking the brand global.
Puerto Rico’s Segura Bank taps Temenos to power new digital bank
The implementation builds on an agreement previously announced by the pair last year.
The great work from home debate isn’t great… or a debate
I want to share with you two little stories. And just a suggestion, if you’d be open to it.
Chase plans to open more than 500 new branches and hire 3,500 staff by 2027
The bank also plans to renovate more than 1,700 existing locations across the US.
Oregon State Credit Union partners Bankjoy for account opening and loan solutions
The credit union has signed for the vendor’s online account opening and online loan application product suite.
Revolut’s head of financial crime and fraud Aaron Elliott-Gross leaves to join Wise as product compliance lead
Elliott-Gross has been appointed as Wise’s global director of product compliance this month.
RBC’s US subsidiary City National Bank hit with $65m fine from OCC
The OCC says the fine relates to “systemic deficiencies” in the bank’s risk management and internal controls.
ID Finance lands $150m debt financing headed by i80 Group
ID Finance claims the financing marks its “largest ever financing round” to date.
OBL director Alan Ainsworth departs after six-year tenure
Despite his successful endeavours, Ainsworth writes that “it’s now time for something else”.
Société Générale to cut 900 positions at Paris headquarters in elimination of “hierarchical layers”
The French banking group says it will action the cuts “without forced departures”.
Westpac taps Dancerace to upgrade its invoice finance operations
Dancerace says its tech will make it easier for Aussie businesses with unpaid invoices “to receive their cash faster”.
Core banking tech challenger Tuum secures €25m Series B to tap new territories
The vendor plans to further establish its market presence in Germany, Austria and Switzerland.
Unity Trust Bank appoints Colin Fyfe as new CEO
Fyfe joins UTB from Hinckley & Rugby Building Society, where he was CEO for over five years.
Exclusive: Old Mutual signs for 10x Banking core, igniting vendor’s African expansion
Old Mutual will leverage 10x’s core banking tech to “serve those who have bank accounts but are severely underserved”.
Commercial Bank of Kuwait to upgrade its payment systems with new Network International partnership
CBK projects that the collaboration will “significantly enhance” its payment operations and continued shift to digital.
Vast Bank exits cryptocurrency market, closes crypto banking mobile app
The bank disabled and removed the Vast Crypto Mobile Banking app from app stores on 31 January.
India’s RBI orders Paytm Payments Bank to halt banking services by end of February
The RBI attributes its order to “persistent non-compliances and continued material supervisory concerns in the bank”.
Raymond James Bank to deploy ICE Mortgage Technology’s lending solution Encompass
The software will support the origination of mortgages for high-net-worth borrowers.
Deutsche Bank to cut 3,500 roles over two years amid €2.5bn savings drive
The German investment bank says the cuts will mainly apply to “non-client-facing areas”.
Emirates NBD partners Silent Eight to bolster compliance operations
The banking group says the partnership will enhance its compliance efficiency.
Banking Technology Magazine February 2024 issue out now
Cover story: PLANT LIFE – Talking flora and quantum computing.
Long-serving Barclays exec Matthew Haines leaves for Santander
Haines has joined Santander’s Payments Centre of Excellence as product owner, effective this month.
Mexican banking heavyweight Banorte taps SAP Fioneer to launch digital bank Bineo
The app-based offering launched this week with account and lending services.
NatWest’s Mettle names Michelle Prance as new CEO
Prance has been promoted to help “meet the evolving needs of the self-employed community”.
How Lithuania became a fintech hub in Europe
Lithuania’s fintech scene is thriving thanks to an environment that encourages innovation and collaboration.
Southern California Bancorp and California BanCorp trigger $233.6m “true merger of equals”
The holding companies currently control Bank of Southern California and California Bank of Commerce.
Santander names Petri Nikkilä as new Openbank CEO
Nikkilä joins Santander from ING, where he is currently serving as head of global retail transformation.
Amplifi Capital lands £22.5m funding to fuel Reevo Money expansion
Reevo Money was launched by Amplifi Capital in 2022 and is the firm’s second customer-facing brand.
Selling sand in the desert
I have a very complicated relationship with the language others use to describe a good salesperson.
The State of AI in Enablement: 2023 Report
The report takes stock of current AI familiarity, expectations, and challenges among enablement technology users.
UK challenger Tandem appoints former JP Morgan exec Maria Khan as director of product and digital
The bank says Khan will work to develop and cultivate “green digital banking solutions”.
Power in simplicity: confirmation of payee provider SurePay wins at Banking Tech Awards
Making life difficult for fraudsters but easier for business is the real success story, says SurePay.
Griffin begins hunt for new COO with Maria Campbell set to depart
Campbell is due to depart the company this quarter to take “some personal time out”.
Dutch challenger Bunq prepares for UK relaunch as it reports first full year of profitability
Following a reported net profit of €53.1 million in 2023, Bunq has now applied for a UK EMI licence.
UK’s PRA fines HSBC £57m for “historic depositor protection failings”
The PRA says the fine is the second-largest issued by the regulator to date.
The Bank of Missouri looks to bring digital banking products to fintechs with i2c partnership
TBOM will tap i2c to enable its fintech clients to build “unique configurations of digital-first financial services”.
