Cooperative Bank of Oromia live with new core banking system, Temenos T24
Ethiopia-based Cooperative Bank of Oromia (CBO), has gone live with new core banking software, Temenos’ T24.
BankingTech
Credo Bank completes Temenos T24 core banking system upgrade
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.
Bank of the West in major tech modernisation
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.
Blooom surpasses $1bn in assets under management
Wealthtech company Blooom says it has surpassed the $1 billion assets under management milestone.
Banking on a new competitive environment – marketplace banking
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.
Banking Technology October 2017 issue out now
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.
Prime Tyme for South Africa’s newest bank
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 acquires Unafortis for new global Avaloq practice
Luxoft Financial Services is moving into the Avaloq implementation and consulting business with the acquisition of Unafortis, a Swiss wealth management consultancy firm.
Chime Pulls in $18 Million, Surpasses 500,000 Bank Accounts
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.
Top fintech stories this week – 29 September 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Bring on the money drones
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 live with new lendtech, Infosys Finacle
Mediterranean Bank in Malta has replaced its legacy lending solution with Infosys’ Finacle.
HSBC UK takes first step into open banking
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 in group-wide upgrade of core banking software
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.
The four things that will make or break bank risk management
What will make or break bank risk management? Victoria Chatterton, strategic director of RiskMinds, gives the lowdown.
Improving operational efficiency through digital transformation
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?
Calypso lands IT overhaul deal with Invest AD
Abu Dhabi Investment Company (Invest AD) is implementing new treasury and asset management software from Calypso, front-to-back office.
Analysis: the trend toward best practice in institutional FX settlement
Marisa Kurk, senior managing director and COO of Mesirow Financial Currency Management group, explores best practices in foreign exchange (FX) settlement.
R3 and TradeIX plan open account trade finance DLT network
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, […]
HSBC and friends team up for integrated SME accounting
HSBC is expanding its existing bank feed services with the launch of a new online tool that enables SMEs to establish a data feed from their bank account to their accounting software. Its customers can now connect their bank accounts to their choice of accounting package – namely Xero, Sage and Intuit. Nadya Hijazi, global […]
SunTec Xelerates its open banking ambitions
SunTec has unveiled its out-of-the-box open banking solution, offering preset configurations and definitions, through its Xelerate billing system. With the rise of open banking, SunTec wants to join the throng looking to prosper in a very competitive and crowded market. The firm says banks can use the layer to get business value from their APIs […]
Seylan Bank to swap legacy trade finance tech for Finastra’s Fusionbanking Trade Innovation
Sri Lanka’s Seylan Bank is modernising its trade finance technology with Finastra’s Fusionbanking Trade Innovation system. On the way out is the legacy China Systems’ Eximbills system, Banking Technology understands.
White paper: From traditional bank to marketplace bank
Many industries have already been technologically disrupted. Financial services and banking won’t be any different. New digital banking platforms will emerge with an automated, compliant core and a connection layer for all kinds of third party services to tap into. This is API banking, or marketplace banking.
Japanese regulator and banks plan shared ID system on blockchain
The Financial Services Agency of Japan and some of the nation’s banks are planning to develop a shared identification system on blockchain. According to the Nikkei Asian Review, consumers will be able to open accounts at multiple banks and financial houses without having to re-enter personal information. The first step will see an administrative body […]
Big banks back Canada’s $150m digital ID system
Canada’s big banks have joined the charge for a CA$185 million ($150 million) digital identity supercluster bid that plans to solve the identification challenges of the digital economy. According to IT World Canada, Royal Bank of Canada (RBC), Bank of Montreal, Scotiabank, CIBC, TD Bank and National Bank of Canada – are on board, along […]
Cashplus Expands with £30 Million Debt Facilities Led by RBS
Cashplus, a London-based alternative financial services provider—and Top 5 Best Challenger Bank—has announced two new, three-year funding arrangements totaling £30 million (US$40.52 million). The company will use the credit to expand its lending products for SMEs.
Banks going Kodak
When was the last time you visited a bank branch? While the rise of the internet, banking shifted the customer interaction from the branch to the web, the business was still owned and run end-to-end by the bank and at lower cost. For a few years now, the landscape has altered significantly bringing Kodak to […]
Commerzbank, KfW and MEAG simulate blockchain-based security transaction
Commerzbank, KfW Banking Group and MEAG, the asset manager of Munich Re and ERGO, have replicated a jointly traded euro commercial paper (ECP) in a blockchain environment.
Europe’s top venture capital investors by country – CB Insights
CB Insights has mapped the top venture capital (VC) investors in Europe by country, based on number of portfolio companies the investor had backed. The research company analysed the most active investors in the last five years (2012-2017), including VCs, corporate VCs, growth equity firms and super angels.
Kasasa rolls out Kasasa Loans
Fintech and marketing services company Kasasa unveiled its newest offering, Kasasa Loans, which lets consumers pay ahead to reduce debt and take that extra money back if they need it.
AutoGravity teams up with Hyundai Capital America
Thanks to a new partnership between AutoGravity and Hyundai Capital America, California car buyers using AutoGravity have new financing options when looking to buy a Hyundai, Kia or Genesis vehicle.
How millennials are shaping the future of payments
For the millennial generation, paying for a latte using a contactless card, transferring money to a family member or friend online or buying a pair of trainers with “one click” has become the norm. This generation has not only shaped and driven the payments revolution, but is also playing an active role in developing a lot of the payment technologies emerging today.
Starling Bank seeks £40m funding for overseas expansion
UK-based challenger bank Starling is asking its investors for another £40 million in funding as it looks to grow its business overseas, according to Sky News. Sky News says it understands that Starling, which got its banking licence last year, has appointed Quayle Munro, an advisory firm, to oversee the fundraising. As reported by Banking […]
FinovateFall 2017: a look back at the four-day flow
Adding a pair of discussion days to Finovate’s traditional demo days format, has made it that much easier for FinovateFall attendees to answer the question perennial post-conference question: “So. What did you think?”
Digiliti Money plans to delist from Nasdaq
Digiliti Money (DGLT), which is in merger negotiations with Urban FT, is planning to delist from the Nasdaq, according to its most recent SEC filing.
Malauzai’s digital banking does the business for Somerset Trust
Courtesy of its partnership with Malauzai, Somerset Trust Company is extending its digital banking service to its business customers. The West Pennsylvania-based community bank will use the same MalauzaiOne digital banking platform it rolled out to retail customers last year, giving business users digital access to their accounts and ways to manage payments and receivables, reports […]
Top fintech stories this week – 22 September 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Swift gives final wave to four more CSDs on T2S
Swift has announced the migration of Iberclear (Spain) and the Baltic central securities depositories (CSDs) of Estonia, Latvia and Lithuania and their respective communities to live operations on Target2 Securities (T2S) using its value added network (VAN) solution. The migration marks the end of the T2S migration plan, which started back in June 2015. Since […]
South Africa Bettr get ready for new mobile banking service
South African start-up Bettr Finance is preparing to launch its mobile banking service – with the offer of no monthly account fees and no bricks and mortar branches. It’s early days at the moment, so timelines and specific details are not available. But on its website its alpha phase is limited to 10,000 users. The […]
Report: Fintech outside London
Reading the UK news you might think fintech innovation only comes from limelight-hogging London, but that isn’t the case. There are obviously other rival global centres of innovation like Berlin or Stockholm, but many other regional UK fintech hubs exist too. The Fintech outside London report looks at UK fintech firms working outside of the so-called […]
