Royal Bank of Scotland (RBS) is closing 30 of its own branches and 128 of its subsidiary, NatWest, putting 470 people out of work. The bank says this decision is a result of the changing consumer behaviour, which has now shifted to digital banking.
The UK’s new financial trade association – created as a result of the merger between six domestic associations in the banking and payments space – has unveiled its name: UK Finance.
EdgeVerve Systems, a product subsidiary of Infosys, has launched Finacle FinTech Connect and the chance for firms to integrate their solutions into Finacle’s banking suite. Companies are invited to register for a partnership evaluation process and stand a chance to present at its event Infosys Confluence 2017 in May in San Francisco; along with joint […]
SmartStream has hired Richard Bowler as chief financial officer (CFO).
Turkey’s largest bank, Isbank, has introduced a digital mortgage process where users can follow up credit pre-approval, the actual appraisal and overall credit process 24×7. In the bank’s “instant transaction” area, users’ mortgage applications are pre-approved within a “few seconds” and users can upload title deed images and pay the appraisal fee online to start […]
UK-based innovation foundation Nesta has launched its “Open Up Challenge” as it looks for services, apps and tools for SMEs. The competition is now open for entries. A £5 million prize fund is on offer and it is looking for 20 entries from anywhere in the world that will use open banking APIs – “newly […]
We hear a lot about how artificial intelligence (AI) has the potential to displace jobs, especially those held by women in tech, but should we also worry about a future overrun with sexist, racist machines?
Digital payments app, Samsung Pay, has been launched in India. Access is limited to those who signed up for the early access programme and available only on its mid-segment and flagship Samsung Galaxy devices.
With the EU’s Second Payment Services Directive (PSD2) and open architecture framework set to come into force next year, regulation may well tip the scales between banks and fintechs for customer loyalty, according to a new report conducted for Temenos by the Economist Intelligence Unit. In the 36-page study, “Symbiosis: Your bank has your trust. […]
The Illinois Department of Financial and Professional Regulation (IDFPR) has become the first US regulatory agency to join the R3 Consortium, a global partnership of banks and other parties working to develop distributed ledger-based applications for financial services.
Professor Michael Mainelli, executive chairman of Z/Yen Group, and Vinay Gupta, founder of venture capital firm hexayurt.capital, discuss mutual distributed ledger economics.
VA Desert Pacific Federal Credit Union and East Idaho Credit Union have entrusted their core processing operations to Symitar Ease, supplied by Jack Henry’s subsidiary Symitar.
Russia-based Post Bank, a joint venture of VTB Group and Russian Post, has purchased 3,200 self-service cash recycling systems (plus software and services) from Diebold Nixdorf.
Nedbank, one of South Africa’s largest banks, is implementing a new syndicated lending system, Fusionbanking Loan IQ, supplied by Misys.
Banking Technology and BearingPoint are conducting a brief survey to find out the industry view on regtech and its implications for all parties involved.
Al Baraka Bank in Pakistan is migrating the acquired fellow Islamic bank, Burj Bank, onto the Autobanker core banking system from Autosoft Dynamics.
Ontario-based Alterna Bank says it has launched “Canada’s first and only end-to-end digital mortgage”.
The top Democrat on the US House Financial Services Committee wants to interview executives from Wells Fargo over a scandal about fake accounts its employees set up for customers.
CapEd Credit Union in Idaho, and two Californian credit unions, Pacific Marine and Camino Federal, have converted to new core processing software, Keystone, supplied by Corelation.
UK-based challenger Jargon Bank has taken the fintech world to new levels of rapture with the move of its London office 100 metres down the road. As Banking Technology reported last year, the “game changer” bank launched offering “compelling and innovative” products, which raised more questions than answers. This was followed in February with an […]
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, Banking Technology deputy editor Antony Peyton doesn’t offer up one view, but the views of many. While Twitter in general may often […]
UK challenger bank Tandem is not to receive any further investment from retail chain House of Fraser. House of Fraser invested £6 million in December, as part of a planned £35 million injection.
TSB Bank in New Zealand is rolling out a new lending solution from Australia-based fintech start-up Cloudcase.
Australia-based BT Financial Group, a wealth management subsidiary of Westpac, has added new functionality – superannuation administration – to its core banking platform, supplied by Avaloq.
Cognizant, a global provider of digital, technology, consulting and operations services, is to get rid of up to 4% of its workforce, it is understood. It is also keen on increasing automation, investment in digital and M&A.
This nifty infographics, created by the European Payments Council (EPC), explains all you need to know about PSD2, from what it will change and its key components (such as APIs) to who the new players are.
QNB Finansbank, QNB Group’s subsidiary in Turkey, has developed TouchFinans, a core banking application for the bank’s SME division to carry on their Windows tablets.
Wanda Internet Technology and IBM have signed an agreement for the former to enter the public cloud business in China. This will be done via a new firm – Wanda Cloud Company – built on the IBM Cloud Platform.
Oracle has had another positive quarter as it navigates the complicated waters of business transformation, but it’s still a long way from kicking Infrastructure-as-a-Service (IaaS).
Art Gillis, a seasoned banking technology consultant (working in the computer industry since 1958 – and listed as a top 25 tech consultant by the American Banker) and author, presents his latest “Automation in Banking” report (#31!), which looks at the US core banking and ancillary software market.
Over the holiday period I saw my 17-year-old niece Katie reading an article in an engineering magazine about the lack of women in that industry. She is considering becoming an engineer.
Yes Fintech, the accelerator programme of India’s Yes Bank, has unveiled its 12 finalists.
SIX Securities Services, Switzerland’s post-trade market infrastructure says it has developed – “and intends to deploy” – a new bond issuing solution based on the distributed ledger technology (DLT).
Poland’s Alior Bank has unveiled its growth ambitions and number of branch closures over the next three years with its “Digital disruptor” strategy. In its 65-page report, the bank does the usual trick of praising itself and its disruptive qualities, calling itself the “largest ever start-up” in Central and Eastern Europe in the financial services […]
It’s a digital double as Warba Bank has launched the “first” e-signature function and online account opening in Kuwait. Called “Express Finance”, the e-signature is the result of an agreement between Warba and Kuwait’s Public Authority for Civil Information. It allows users to authorise the bank to view their information on the credit network (Ci-net) […]
How a vendor’s acquisition of a big bank’s platform has led to the development of a utility. Credit Suisse talks about its fees and expense management transformation journey.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Berlin-based mobile bank N26 says its user base grew to more than 300,000 over the last year, tripling in size since the last announcement of 100,000 users in January 2016. As Banking Technology reported late last year, N26 took its business fully across 17 European countries, including Spain, Italy, Greece, Ireland and Slovakia. Before that […]
UK challenger bank Starling has unveiled its mobile app and is welcoming the first customers through its digital doors to join a beta testing programme. As Banking Technology previously reported, the bank has been getting ready for this moment. Yesterday (15 March), it chose TransferWise to provide money transfer services to its customers. It will […]
Private banking and wealth management transformation programmes don’t need to be too risky, lengthy or costly!
