Infographic: Common Reporting Standard (CRS) – a year on
Financial institutions face unprecedented data management and compliance challenges as they continue to grapple with multiplying CRS and FATCA related global tax transparency regulations.
BankingTech
National Bank of Canada joins SecureKey’s digital identity network
At the beginning of the year, SecureKey announced that it had won an $800,000 grant from the US Department of Homeland Security in support of the company’s development of a blockchain-based digital identity network. Today, the Ontario-based authentication specialist unveiled the latest institution to join that network: the National Bank of Canada, reports David Penn […]
Top fintech stories this week – 13 October 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
nCino is the one for ConnectOne’s cloud-powered lending
New Jersey-based ConnectOne Bank has selected nCino’s Bank Operating System for account opening, lending and portfolio management. According to nCino, Bank Operating System gives ConnectOne a single cloud-based platform, built on Salesforce, that combines customer relationship management (CRM), loan origination, account opening, workflow, enterprise content management, business process management, digital engagement and instant reporting. Frank […]
Blockchain and Bitcoin round-up: 12 October 2017
Whether it’s prepaid card time or financial crime, the world of blockchain and Bitcoin is a lively one. This latest round-up features BitFlyer, Visa, Accuity, R3 and SIA. Tokyo-based Bitcoin exchange BitFlyer has unveiled a Visa prepaid card that can be charged with Bitcoin in yen and used throughout Japan. It can be charged via […]
Finastra partners with Vasco to offer customers eSignLive capability
It turns out, banks can gain a lot from business tools. That’s probably why business solutions company Vasco and financial services software company Finastra teamed up.
The modern trade landscape: banks and digitalisation
Innovative technologies are increasingly sparking enhancements to trade processes. BNY Mellon Treasury Services’ Dominic Broom, global head of trade business development, and Joon Kim, head of global trade product, discuss how the industry – with banks at the helm – can drive forward new capabilities and help to support trade growth through digitalisation.
apoBank opts for Avaloq Banking Suite
Deutsche Apotheker- und Ärztebank (apoBank) has selected the Avaloq Banking Suite as it looks to increase operational efficiency via a digital strategy. As reported last year, apoBank was considering the implementation of Avaloq’s flagship core banking system. The two parties signed a contract to “analyse and elaborate how far the execution of the apoBank IT […]
O-Bank goes all-digital with Avaya’s tech
US-based tech company Avaya says it has helped O-Bank to become “Taiwan’s first, all-digital, online-only bank”.
TSB Bank awards five-year services contract to NCR
NCR Corporation has signed a five-year deal with UK’s TSB Bank to look after the bank’s 900+ ATMs and IDMs as well as provide service desk support for its employees across its branch network.
Corporate client self-onboarding
Know this feeling when you are asked by a check-in clerk where you’d like to sit on a plane? A torrent of thoughts rushes through your head: being able to see the actual seat map with available options would make your choice much easier. Otherwise it’s kind of like a child describing his/her favourite movie.
Wells Fargo launches mobile “tap and pay” functionality at 5,000 ATMs
More than 5,000 ATMs of Wells Fargo (40% of its ATM network) now have near-field communication (NFC) enabled mobile wallet capability – i.e. the bank’s debit card customers can now “tap and pay”.
Openbank goes for Temenos T24 core banking system
Openbank, a digital banking subsidiary of Santander, has made its new core banking system decision – the bank has opted for Temenos T24. Infosys with its Finacle offering lost out in the final.
Around Fintech in 8 Hours – new online course launched by CFTE
Centre for Finance, Technology and Entrepreneurship (CFTE) has launched a fintech foundation course – Around Fintech in 8 Hours – “designed to give professionals working in the finance industry a solid understanding of how technology is redefining the provision of financial services”.
EBA Clearing’s RT1 payments system gets Swift access
Users of EBA Clearing’s instant payment system, RT1, will be able to access the platform via Swift’s SwiftNet Instant solution from November 2018. According to Swift, its solution will address all RT1 customer requirements, including instant messaging, file transfers and a browse solution. Erwin Kulk, head of service development and management, EBA Clearing, says: “RT1 […]
Utkarsh Small Finance Bank goes live with Intellect’s core banking system
Utkarsh Small Finance Bank, a microfinance institution in India, has rolled out Intellect Design Arena’s core banking system. The bank received its licence last year, and according to Intellect, one of the key requirements for Utkarsh was to have a joint liability group solution that would enable it to provide group loans to the microfinance […]
PSD2 – the tip of an Open Banking API iceberg?
It’s been over a year since I first blogged on the subject of open banking and it is fair to say, mainly driven through the regulatory pressures of PSD2 and the UK Competition and Markets Authority (CMA) led UK Open Banking initiative, that across Europe, much progress has been made in moving the banking industry to adopt APIs.
Payments: I spy gpi
Much of the focus for correspondent bankers at this year’s Sibos will again be Swift’s global payments innovation (gpi) initiative. More than 110 transactions banks from Europe, Asia Pacific, Africa and the Americas have signed up to the initiative, which opened for live payments in January 2017.
Nymbus unveils digital banking platform, SmartDigital
Banking software start-up Nymbus has launched its digital banking platform – SmartDigital – offering open architecture and APIs to enable financial institutions to integrate with third-party applications.
I know what I am doing!
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?
Infographic: the world’s most cashless countries
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.
Temenos teams with MuleSoft to accelerate open banking
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 […]
Top fintech stories this week – 6 October 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Central banking and fintech: a brave new world?
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.
Once again fintech firms and challenger banks are hit with card payment issues
There have been another problematic 24 hours for fintech firms and challenger banks after being hit with a slew of card payments issues.
Hey big lender! Finastra, R3 and seven banks have blockchain plan
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 takes TradeIX and Infor route for digital trade finance drive
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 […]
AU Small Finance Bank in GST tech project with SunTec
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.
Interview: Vijay Oddiraju, Volante Technologies
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.
Use the Salesforce Luke… for your retail banking
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 reviews tech revamp
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 […]
Starling Bank Expands with Business Accounts
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 US credit unions added to Finastra client list
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.
Mashreq launches Neo digital bank for millennials
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 […]
Falcon plans to feather more nests with new digital platform
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 […]
Live Oak and First Data open up to digital banking with Apiture JV
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.
Cloudy with a chance of Microsoft for TSB’s digital banking
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 […]
What does the new iPhone X mean for mobile banking?
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 in new core banking system search
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.
Evry in five-year, $18.7m card deal with Aktia Bank
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.
