Recent business surveys together with published industry trends suggest that ATMs aren’t going to disappear from the landscape quite yet even as the rate of bank branch closures will not take place as rapidly as could have been expected just a short time ago. What’s happening?
What countries among the 20 largest economies are adapting quickest to using cashless systems like phones and contactless cards? New research (and nifty infographics) from global trading site Forex Bonuses reveals that Canada takes the top spot, narrowly edging out Sweden for the top position.
Banking software provider Temenos has teamed up with Mulesoft, a platform provider for building application networks. The move is intended to break down barriers to the open banking initiative by facilitating API connections, reports Julie Muhn at Finovate (Banking Technology’s sister publication). As a part of the partnership, Temenos will develop a core banking adaptor […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
This is a moment to celebrate 20 years of independence during which the Bank of England has been a stabilising force for the UK economy, inspiring others in the world of central banking.
There have been another problematic 24 hours for fintech firms and challenger banks after being hit with a slew of card payments issues.
Finastra, R3 and seven banks – including BNP Paribas, BNY Mellon, HSBC, ING and State Street – are working together to create a blockchain-fuelled online marketplace for the syndicated loan market. Underpinned by Corda, R3’s distributed ledger technology (DLT) based platform, Fusion LenderComm exposes real-time credit agreement, accrual balances, position information and transaction data to […]
Standard Chartered is using TradeIX’s TIX blockchain platform and Infor’s GT Nexus Commerce Network for two separate digitalisation efforts in trade finance. The TradeIX platform enabled Standard Chartered’s unnamed client to “help its customers increase their payment terms whilst maintaining the company’s receivables at current terms”. The financing was offered by Standard Chartered with credit […]
A new bank in India, AU Small Finance Bank, is working with SunTec to automate the goods and services tax (GST) functionality with the vendor’s Xelerate revenue management system.
In an exclusive interview with Vijay Oddiraju, co-founder and CEO of payments processing software provider Volante Technologies, speaks on the topics of agility, automation and how the ambitious company intends to prosper in the fast moving and competitive world of payments.
Salesforce has unleashed “Financial Services Cloud for Retail Banking”, a new application that lets bank employees have a “complete view” of their customers and work collaboratively. New features in the application comprise a retail banking data model and console. This includes all customer data – such as bank accounts and personal identification documents – which […]
Bank of Ireland’s new CEO is understood to be reviewing its five-year €900 million modernisation initiative – aka Project Omega – according to the Irish Times. As Banking Technology reported last year, the new set-up will be hosted by Capgemini. The bank was known to be evaluating a joint Software-as-a-Service (SaaS) offering from Temenos and […]
The competition to serve the financial needs of small businesses is heating up in the U.K., where consumer banking challenger Starling Bank is expanding into the business market,
Three credit unions in the US have signed for the lending software from Finastra (formerly D+H Corporation and Misys). These are Central Florida Educators Federal Credit Union, TruMark Financial Credit Union and Evansville Teachers Federal Credit Union.
Dubai-based Mashreq has confirmed its future as a branchless bank, with the launch of its digital entity Mashreq Neo. As reported in May, Mashreq was mulling the branchless route in a speech by CEO Abdul Aziz Al Ghurair at its 50th anniversary ceremony. At that time, Banking Technology expected this to be a digital bank […]
Zurich-based Falcon Private Bank has unveiled a new digital platform, Falcon Pulse, as it looks to boost its ambitions in wealth management. Main features will include an algo trader that daily rebalances a portfolio’s asset allocation to “optimise” performance as well as an idea generating tool that will screen market information to offer the “best […]
International paytech firm First Data and a bank in North Carolina, Live Oak, have partnered to form a new digital banking joint venture (JV) called Apiture.
TSB has selected Microsoft 365 Enterprise and Dynamics 365 cloud solution as part of its digital banking revamp for its eight corporate centres and 550 branches. Microsoft 365 integrates Office 365, Windows 10, and Enterprise Mobility + Security into a solution to help the bank’s 8,500 employees. Dynamics 365 delivers a cloud-based suite of applications […]
Mobile banking is nothing without mobiles, and as Apple leads the way in innovation it provides opportunities for banks to do things differently too. So, with the launch of the iPhone X, what is next for mobile banking in a world that can’t get enough of phone upgrades?
Zarai Taraqiati Bank Limited (ZTBL), a development bank in Pakistan, is looking for a new core banking solution for its conventional and Islamic banking operations.
Norway-based banking tech vendor Evry will provide Finland’s Aktia Bank with the “entire value chain for card payments”, including virtual debit and credit cards for the bank’s digital proposition, Aktia Wallet.
Ethiopia-based Cooperative Bank of Oromia (CBO), has gone live with new core banking software, Temenos’ T24.
Credo Bank, a Georgia-based bank providing sustainable financial services for micro businesses and SMEs, has moved to the latest version of Temenos’ T24 core banking system.
EXCLUSIVE: Bank of the West, a large regional bank in the US and a subsidiary of BNP Paribas, is embarking on a major tech overhaul with Infosys, it is believed.
Wealthtech company Blooom says it has surpassed the $1 billion assets under management milestone.
Marketplace banking has the potential to deliver an interconnected financial services industry where banks can get closer to their small business customers explains Five Degrees’ Peter-Jan Van de Venn.
Oh brave new world! Where transparency reigns. The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
TymeDigital, a South African online money transfer business bought by Commonwealth Bank of Australia (CBA) two years ago, has been granted a banking licence. The first licence issued to a new bank by the South African Reserve Bank (SARB) since 1999. TymeDigital will enter a retail banking market dominated by South Africa’s five biggest banks: […]
Luxoft Financial Services is moving into the Avaloq implementation and consulting business with the acquisition of Unafortis, a Swiss wealth management consultancy firm.
Chime, a mobile banking challenger co-founded by Green Dot and Visa veteran Chris Britt, has raised $18 million in Series B financing, led by global venture fund Cathay Innovation.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Following testing by Russia’s largest bank, Sberbank, to deliver cash to clients using a custom-made drone, the arrival of more frequent cash deliveries by drones look to be just around the corner, with reports suggesting as early as the end of 2017.
Mediterranean Bank in Malta has replaced its legacy lending solution with Infosys’ Finacle.
HSBC UK is taking steps in a new direction with its first foray into open banking. Starting with the introduction of a new testing platform, HSBC Beta, this allows HSBC to get its feet wet before diving in with a fully fleshed out app for customers in 2018. Still, the testing platform won’t be no […]
BGFI Bank, a financial services group in Central Africa, is upgrading its core banking software group-wide. The bank is rolling out a new version of Sopra Banking Software’s Amplitude system, Amplitude Up.
What will make or break bank risk management? Victoria Chatterton, strategic director of RiskMinds, gives the lowdown.
With increasingly demanding customers, and competition from fast-growing fintech companies, banks are facing new pressures to digitise their offerings. Developing new software is key, but finding a reliable means to quantify the productivity of software teams and quality of code is increasingly difficult. How can banks be sure they are getting a reasonable output from the large investments they make in software engineering?
Abu Dhabi Investment Company (Invest AD) is implementing new treasury and asset management software from Calypso, front-to-back office.
Marisa Kurk, senior managing director and COO of Mesirow Financial Currency Management group, explores best practices in foreign exchange (FX) settlement.
Enterprise software firm R3 and trade finance specialist TradeIX are developing an end-to-end open account trade finance business network which will be powered by TradeIX and R3’s Corda distributed ledger platform. The initiative is a joint undertaking between the duo, and 12 financial institutions including Bangkok Bank, Barclays, BBVA, Bladex, BNP Paribas, Commerzbank, CTBC Bank, […]
