Contactless payments ramp up in 2017
Following the announcement WhatsApp will enter into the mobile payments arena, new estimates from Juniper Research claims Apple Pay contactless users will nearly double over 2017.
BankingTech
FIS sheds Ambit Private Banking core software business
FIS has sold its Swiss core banking software business, Ambit Private Banking, which it inherited with the acquisition of Sungard, to New Access Banking Software.
US fintech regulation: a divided picture at the federal level
Addressing the views of the Department of Treasury, the CFPB, and the SEC on the regulation of the fintech industry in the US.
Corelation’s Keystone core banking system gets two new live sites
Two federal credit unions in the US, People First in Pennsylvania and Greater Alliance in New Jersey, have converted to new core processing software. Both are now live on the Keystone platform supplied by domestic vendor Corelation.
Nasdaq revamps Hong Kong Exchanges and Clearing tech
Hong Kong Exchanges and Clearing (HKEX) has chosen Nasdaq to upgrade the technological infrastructure of Hong Kong’s main derivatives market, including trading, clearing and real-time risk management technologies. The agreement also extends the existing relationship for an additional five years. HKEX and Nasdaq have been technology partners since 1994. Under the new agreement, Nasdaq will […]
Urban FT taps Sunrise Banks for prepaid partnership
White-label digital banking services provider Urban FT is joining forces with Sunrise Banks.
Blockchain and Bitcoin round-up: 11 April 2017
Make the most of your limited time with this brief blockchain and Bitcoin round-up. Featuring Commercial Bank of Qatar, Russia, Waves Platform, and a farmer. The Commercial Bank of Qatar has completed an initial pilot phase using the “first ever” blockchain network to process international transfers in partnership with ABank in Turkey, National Bank of […]
Commonwealth Bank of Australia joins quantum revolution with QxBranch
QxBranch, the quantum computing and data analytics software company, has created a quantum computing simulator for the Commonwealth Bank of Australia (CBA).
Payments: how the West will be copying the East
Payments industry practitioners in the European Union are understandably obsessed with the implications of the revised Payment Services Directive (PSD2). This was evident at the recent European Payments Summit, held in the Netherlands, where PSD2 dominated many of the discussions.
DeVere delves deeper into fintech space with e-money app launch
Financial consultancy firm DeVere Group has launched an app-only e-money service as it pushes deeper into the banking and fintech sector. As Banking Technology reported last month, the group took advantage of Lithuania’s ambitions to attract fintech firms and set up a new office in the capital Vilnius. This was preceded by the unveiling of […]
Alawwal Bank’s next stop is a coffee shop
Across the world, branches are disappearing or even getting smaller, but Alawwal Bank, with the help of financial services IT consultancy Synechron, has opened a new digital branch in Saudi Arabia in the form of a coffee shop. The Ibda café is located in the Nakheel mall in Riyadh. The bank says customers can open […]
Starling Bank developer portal goes live
UK challenger bank Starling has unveiled its developer portal to enable third parties to access customer data and build on top of its platform using APIs. As Banking Technology previously reported, Starling launched its mobile app and is welcoming the first customers through its digital doors to join a beta testing programme. It also recently […]
Executive Profile: Walt Granville, Digiliti Money
From his current role as senior vice president of mobile innovations at Digiliti Money (formerly Cachet Financial Solutions), Walt Granville has the perfect vantage point to see the transformative power of mobile for prepaid programs. Find out more from the former pro runner, including which apps are on his must-list, where he sees prepaid in five years and the trend he’s watching most in 2017.
VEB awards core banking system contract to Diasoft
Bank for Development and Foreign Economic Affairs – VEB – a state-owned development bank in Russia, has selected a new core banking system. The contract was awarded to Diasoft, one of Russia’s biggest core banking software providers.
Tackling cybercrime: why the industry must unite
Cyberattacks have been dominating newspaper headlines for some time now. Whether it’s losing access to PayPal, a distributed denial of service attack on Lloyds Group, or Tesco Bank customers losing £2.5 million to hackers, the threat of a cyberattack in 2017 is so great that it’s not a case of if, but when one occurs.
Naqoda unveils “new, fast and flexible” core banking system
Fintech vendor Naqoda has launched its new development, Naqoda Core Banking Platform, which is “set to compete with new start-ups and legacy vendors alike”.
O-Bank goes digital in preparation for IPO
O-Bank (formerly Industrial Bank of Taiwan), is keen to transform itself into “a nimble and digitally-focused boutique lender” as it gears on for an IPO.
Top fintech stories this week – 7 April 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Banks spellbound by innovation? Lessons learnt from digitalisation
Dr Andreas Dombret, member of the executive board of Deutsche Bundesbank, ponders why fintech innovation is such a hot topic now, of all times, what exactly innovation in banking means, and whether banks are even capable of being innovative.
UniCredit and SIA bring Alipay to Italy
The agreement between Alipay and UniCredit has now entered the operational stage. Technological infrastructure for this has been provided by SIA.
Cachet, Rebar and Central Bank of Kansas City bring mobile prepaid programmes to community banks
Cachet Financial Solutions is working with Central Bank of Kansas City (CBKC) to bring mobile-optimised prepaid programmes to community banks. The two companies have also teamed with Rebar Interactive to provide Select Mobile Money-Express, a platform that includes a Mastercard-branded prepaid card.
WhatsApp set to join the Indian mobile money revolution
Facebook-owned WhatsApp is reportedly looking to get into mobile payments and has picked India as the best place to start.
Deutsche Bank launches new mobile payment app
Deutsche Bank has launched a new mobile payment app for Android devices.
R3, HQLAX and five banks build collateral lending solution on blockchain
Distributed ledger technology (DLT) consortium R3, together with five of its members and financial resource management specialist HQLAX have built a collateral lending solution for liquidity transfers. The solution is based on R3’s flagship platform, Corda, and is “an operating model for a digital collateral receipt (DCR) lending marketplace”.
OP Financial Group enlists Token to develop new payment solutions
OP Financial Group has partnered with Token, a Silicon Valley-based crypto-payment software provider. Token says the agreement will enable the Finnish bank “to innovate in the European open banking market and generate new revenue streams via future payment solutions”.
Finicity first to ink data exchange deal with Wells Fargo
Wells Fargo and data aggregation provider Finicity have signed a deal that provides an API-based method for sharing Wells Fargo customer information with the financial apps and services that Finicity supports.
NLS and KCB Bank in court over tech use
Kenya-based banking tech provider and integrator NLS Banking Solutions is seeking an injunction against Kenya Commercial Bank (KCB) for software infringement rights.
70% of jobs in developing markets under threat from AI – report
A new report from the International Bar Association has outlined the risks and rewards of artificial intelligence (AI), which while bordering on scaremongering also makes some good points.
Fintech in the US: the state of the union is questionable
An overview of the current fintech regulation in the US by the prudential regulators: the OCC, the FDIC, and the Federal Reserve.
BNP Paribas to buy 95% stake in French digital bank Compte-Nickel
BNP Paribas is buying a 95% stake in Financière des Paiements Électroniques (FPE), which provides the digital-only bank Compte-Nickel. BNP Paribas wants to tap into Compte-Nickel’s growth – citing its 540,000 accounts opened over the past three years and that a new account is being opened in France every 30 seconds. Compte-Nickel also offers real-time […]
Lloyds standing small with new micro-branches
Not only is Lloyds cutting branches across the UK, it is now making them smaller in size. With the well-known rise in digital banking, the bank has plans to introduce micro-branches. This means no counters, and two members of staff with mobile tablets to help customers who dare walk into a branch. A spokesperson for […]
Attic Lab teams with Polybius for blockchain-powered bank
Ukrainian start-up Attic Lab has signed a memorandum of understanding (MoU) with Polybius Foundation to provide the blockchain backbone for a new digital bank. As Banking Technology reported in September last year, Attic Lab unveiled its open source blockchain platform and has been gaining some traction with banks in Europe. It will implement SmartMoney, a […]
Blockchain and Bitcoin round-up: 3 April 2017
Another day, another cryptocurrency. A concise round-up of blockchain and Bitcoin events. Features Japan, Lykke, ChronoBank and London’s Imperial College Business School. It’s the land of the rising sums, as Bitcoin is now a legal payment method in Japan. As a result, Bitcoin trades rose today – at 11am (UK time) it was up 2.8% […]
Consorsbank turns to FinLeap for digital account exchange
Consorsbank, part of BNP Paribas Germany, has implemented fintech incubator FinLeap’s digital account exchange service, FinReach. Bank users who want to move accounts to Consorsbank can do so in “a matter of minutes” and it is all done completely online. Customers will be shown all the credit transferees – and can choose who is to […]
Voice biometrics take ANZ higher for mobile payments
Australia and New Zealand-based banking group, ANZ, has announced it will be the first Australian bank to introduce voice biometrics on mobile devices to allow higher value transactions. From the middle of this year, customers transferring more than $1,000 through ANZ’s mobile apps will be able to use their voice to automatically authorise high value […]
Accenture acquires digital ID firm Arismore
Accenture Security has completed its acquisition of Arismore, a privately held company in France that specialises in security services including identity and access management. The acquisition was first announced in December last year, and Accenture will take on 270 people from Arismore. Kelly Bissell, managing director of Accenture Security, says the deal “immediately amplifies our […]
The Monday mindset: 3 April 2017
Fintech zeitgeist! Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye. This week, Soumik Roy looks at how India has quite a lot of fintech activity in its retail market. Did you notice? For the […]
Protecting porous perimeters via identity access management
With the growth of “mobile working” and an increasing number of business applications migrating to the cloud, the corporate perimeter has become more porous and vulnerable, driving demand for solutions that manage access and user identities securely and efficiently. This is where identity access management (IAM) technologies come into play. ING’s Sicco Boomsma explores.
Banking Technology April 2017 issue out now
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
Financial fraud fools UK out of £769m
Impersonation and deceptive double-dealing play their mischievous part in creating massive amounts of financial fraud in the UK. According to figures from Financial Fraud Action UK (FFA UK), losses across payment cards, remote banking and cheques totalled £768.8 million in 2016, an increase of 2% on the previous year. Katy Worobec, director of FFA UK, […]
