Putnam-Greene Financial Corporation in tech modernisation with Fiserv
Putnam-Greene Financial Corporation, a $510 million holding company of four banks in Georgia, US, is modernising its front-to-back office software with Fiserv.
BankingTech
Jack Henry turns to Geezeo for personal finance management tools
Jack Henry & Associates, one of the “big four” banking technology vendors in the US, has joined forces with personal financial management (PFM) firm Geezeo to help consumers manage their finances.
TransferWise to power Starling Bank payments
TransferWise will provide money transfer services to customers of UK challenger bank Starling when it launches later this month. As Banking Technology has previously reported, the bank is getting ready for its 2017 launch. It will host its first hackathon, opening up its API to outside developers. It has received its UK banking licence, joined […]
QNB Finansbank first in Turkey to launch digital signatures in branches
Turkey-based QNB Finansbank, a subsidiary of QNB Group and one of the top five privately owned banks in the country, has enabled its customers to use digital signatures for account opening and loans in the bank’s branches.
The UK gets new coins, but why?
As of March this year, UK’s one-pound, two-pound and 50p coins have all been upgraded to become “the most secure coins in the world”. However, with the rise in cashless payments, online transactions and mobile banking, is there any point?
Looks like cyber criminals are pretty smart after all
New research from Gartner has shown enterprise organisations are beginning to accept that they are not as smart as cyber criminals, and investments over the course of 2017 will reflect this.
Analysis: banking innovation in the US
Banking Technology puts the banking innovation in the US under the spotlight. The market is not short of digital offerings: Simple, Moven, Kabbage, Acorns, Earny, Debitize, MagnifyMoney and more – take your pick!
Bank Yahav live with TCS Bancs core banking platform: “the world’s most complex IT project”
Israel-based Bank Yahav has gone live with a new core banking platform, Bancs, supplied by TCS Financial Solutions. The “pure Java-based” solution is provided on a hosted basis.
White paper: break filter bubbles in banking enterprise fraud management
Synthesise holistic wisdom from core systems and not just from channel silos. From depth of analysis, ease of configuration/implementation and cross-channel fraud detection to insider fraud detection and real-time high availability, a synchronised enterprise fraud risk management approach delivers five compelling advantages over a delivery channel silos only approach.
SBI Holdings, Unicredit and Bertelsmann invest in SolarisBank
Berlin-based fintech SolarisBank has raised €26.3 million from Japanese financial group SBI Holdings, German media company Bertelsmann, Italian banking group Unicredit, plus other investors.
IOB Singapore looks for new regtech system and vendor
IOB Singapore, a subsidiary of Indian Overseas Bank, is looking to modernise its regulatory reporting tech.
Alexander Graham Bell’s influence on tech innovations in today’s financial services
“Mr. Watson, come here, I want to see you.” These were the first words ever spoken over a telephone line and said by the man fondly described as the father of the telephone, Alexander Graham Bell, who would have turned 170 on 3 March this year.
UK faces relegation battle in fight for digital dominance
If data is going to define the digital economy the UK is screwed, according to fresh research from Teradata.
DH Corporation to be bought by Vista Equity Partners and merged with Misys
Canada’s banking software firm DH Corporation (D+H) is to be acquired by Vista Equity Partners and merged with Misys. The deal is reported to be worth CA$ 2.5 billion ($1.9 billion).
The Monday mindset: 13 March 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 we welcome the views of our editor, Tanya Andreasyan, as she gives us the lowdown on going digital.
Lloyds in £1.3bn tech outsourcing deal with IBM
UK-based banking group Lloyds is to outsource its tech to IBM in a seven-year deal worth £1.3 billion. More than 1,900 jobs will be shifted to IBM and £760 million of costs will be cut as a result.
Capital One launches SMS chatbot, Eno
Capital One is introducing virtual assistant Eno, a chatbot that communicates with the bank’s customers via text messages.
Banco Sabadell in regtech project with AxiomSL
Risk management and regulatory reporting software vendor AxiomSL has been selected by Banco Sabadell.
SEB supports Samsung Pay in Sweden
SEB is among the first banks in Sweden to offer Samsung Pay functionality to its customers.
Fortuna Banque to revamp front-to-back office tech with Temenos and Syncordis
Luxembourg-based Fortuna Banque, a retail co-operative bank, is modernising its core banking and digital operations with Temenos. The project is being carried out by local system integrator Syncordis.
JPMorgan Chase acquires MCX payments technology
The technology behind CurrentC, the QR-based mobile payment service created by MCX, a consortium of the largest merchants in the US, has been acquired by JPMorgan Chase. The bank says it will help expand Chase Pay, the mobile and digital wallet for Chase customers.
Housing Bank Algeria in tech revamp with Infosys Finacle
Housing Bank Algeria, a subsidiary of Jordan-based Housing Bank for Trade and Finance (HBTF), is modernising its front-to-back office technology with Infosys Finacle.
DSK Bank moves core and digital banking ops to IBM Cloud
DSK Bank, Bulgaria’s largest bank and a member of the OTP banking group, has completed the migration of its banking operations to IBM’s data centres.
KBC Asset Management in technology modernisation
KBC Asset Management, Belgium’s largest investment manager, is implementing a new investment book of record (IBOR) platform, Simcorp Dimension, and Axioma’s risk management engine.
Blockchain offers banks potential, but HFT provides benefits now
I’ve been a technology nerd since before it was cool. In fact, when I went to college in the mid-1970s engineering students were treated more like George McFly than Mark Zuckerberg. It wasn’t the most glamorous major to talk about. Not much has changed today when I tell people I lead an advocacy organisation in support of high frequency trading (HFT), a technology that lowers trading costs for banks, asset managers and pretty much all investors. I find the work exciting, but I do run into my share of Biff Tannens.
Siam Commercial Bank invests in new fintech focused VC firm
Thailand’s Siam Commercial Bank (SCB) has invested a “significant” sum into a new Singapore-based venture capital (VC) firm, Dymon Asia Ventures.
Penta and SolarisBank team for business bank accounts for German SMEs
Two Berlin-based fintech firms, Penta and SolarisBank, have joined forces to provide German businesses with “fast access to bank accounts”.
IDFC Bank launches “breakthrough” biometric payment app, IDFC Aadhaar Pay
India-based IDFC Bank has launched an e-payment app, IDFC Aadhaar Pay, developed in association with the Unique Identification Authority of India (UIDAI) and the National Payments Corporation of India (NPCI).
India’s fintech valley continues to boost profile
Vizag, the commercial capital of Andhra Pradesh, India, continues to build relationships and develop as a fintech centre.
HDFC Bank launches AI-powered virtual assistant Eva
India’s HDFC Bank has partnered with Senseforth to launch an electronic virtual assistant – Eva – to answer customer queries. Powered by an artificial intelligence (AI) based engine, the chatbot is said to be able to “assimilate knowledge from thousands of sources and provide answers in simple language in less than 0.4 seconds”.
DFSA proposes innovation testing licences
Dubai Financial Services Authority (DFSA) has issued a new consultation paper to find the ways to avoid creating a standalone regime to facilitate fintech companies. Instead, keeping in line with practices followed in the UK and Australia, DFSA will review innovative fintech business propositions and match them with applicable rules already prevailing in the region.
DirectCash Bank to overhaul core banking tech with Smartsolution’s Universa
Canadian banking tech vendor Smartsolution has gained a new taker for its Universa core banking suite, DirectCash Bank (DCBank).
Nordea brings Samsung Pay to customers in Sweden
Nordea has launched the beta version of Samsung Pay in Sweden. The bank’s customers can use this new payment service to make in-store payments with their mobile phones.
Top fintech stories this week – 10 March 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Zenith Bank overhauls core banking tech with Misys Fusionbanking
Nigeria-based Zenith Bank is standardising its core banking software group-wide on Misys’ Fusionbanking Essence platform.
Monetary Authority of Singapore and R3 power blockchain payments project
The Monetary Authority of Singapore (MAS) is partnering with R3, and a consortium of financial institutions on a proof-of-concept project to conduct inter-bank payments using blockchain. This project, which is seen as a rival to Swift’s network, will potentially create a payment system for participants to transact in different global markets round-the-clock. Sopnendu Mohanty, chief […]
Fidor’s digital banking right shot for Van Lanschot
Dutch wealth management firm Van Lanschot has chosen Fidor’s digital banking solution for an upgrade of its payments software and infrastructure. As part of the agreement, Fidor will manage user and account data and will process Van Lanschot’s payments flows within its fidorOS (fOS) platform, which is built using open APIs. It will also modernise […]
Swift bans UN-blacklisted North Korean banks
Swift has cut off three North Korean banks from its messaging system under United Nations (UN) sanctions, after Belgium says it would no longer give authorisation for such transactions. According to Reuters, North Korea’s “intensifying provocations”, such as missile launches, led to the Belgian foreign ministry’s decision. Let’s face it – the nation behaves like […]
Al Etihad Leasing Company completes tech project with ICSFS
Al Etihad Leasing Company, a new venture launched by Jordan-based Bank Al Etihad, has completed its technology set-up. It has implemented ICS Banks Finance Lease System from regional vendor ICS Financial Systems (ICSFS).
Fintech acquisition round-up: 9 March 2017
Who’s buying who? Featuring Broadridge, Message Automation, Numerix and TFG Financial Systems.
