The results from phase two of Canada’s plan for a blockchain-powered interbank payment system reveal that it still faces many obstacles. The Bank of Canada, Payments Canada, R3 and seven commercial banks, have disclosed their report from Project Jasper, an experimental wholesale interbank payment system. First launched in 2015, the results so far show that, […]
Estonia has launched an e-residency programme to let anyone apply to join its new digital nation and register a global EU company that can be managed online from anywhere in the world. This means e-residents don’t have to travel to Estonia in order to access business banking. An EU company with a fully digital EU […]
Keeping high data quality in customer relationship management (CRM) should be among banks’ top priorities! We explore how outdated customer profiles and poor data quality may hurt banks’ efficiency.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
What support does the fintech industry, and the broader financial ecosystem actually want (or need) from government?
A lack of understanding and trust in technology is stalling mainstream adoption of innovative new fintech services, according to HSBC’s research. The bank’s report, “Trust in Technology”, shows that technologies such as fingerprint recognition, voice recognition and robo-advice “hold enormous potential” for uses from bank security to mobile payments and investment advice. John Flint, global […]
The Bank for International Settlements (BIS) has unveiled its FX Global Code, a set of global principles promoting good practice in the foreign exchange (FX) market. The code has been developed by a partnership of central banks and market participants from 16 jurisdictions for “integrity and effective functioning”. Many organisations are welcoming the code, such […]
Amsterdam Trade Bank (ATB) is undergoing a major technology overhaul with Misys as a key partner. The bank is implementing Misys’ solutions from the Fusionbanking and Fusioncapital portfolios to modernise its corporate banking, treasury and capital management (TCM) and trade finance operations.
FIS will sell off its majority ownership stake in Capco to private equity investment firm Clayton, Dubilier & Rice (CD&R), establishing Capco as an independent company. FIS will sell approximately 60% equity interest in Capco, the public brand for its management consulting offering, and receive net cash proceeds of $477 million. Upon closing, FIS will […]
Supercard, a new card and mobile product launched by Travelex and Wirecard last June, is now being sunsetted.
Form3, a cloud-based fintech firm launched last year, has partnered with payments validation company Apply Financial. The deal enhances Form3’s Payments-as-a-Service platform with “automation services to validate, enrich, and fix single and bulk payments”, Form3 says.
BBVA has unveiled its open banking programme and is making eight of its APIs commercially available for the first time. The launch of BBVA API Market comes after the Spanish bank says it spent more than a year working with developers and businesses to prepare the way the open API service would be delivered. With […]
Australia-based MyState Bank has moved onto a single core banking platform, replacing two separate installations. The solution is understood to be TCS Bancs from TCS Financial Solutions.
UK digital bank CivilisedBank has received its banking licence from the Bank of England, paving the way for it to build its infrastructure and launch to customers in early 2018. As Banking Technology reported in June last year, the bank submitted its banking licence application and had planned to open for business in early 2017. […]
Nearly half—49 percent—of millennial consumers had paid a bill via mobile within 30 days of a survey conducted for a new report from FIS. That data point underscores the growing importance of digital financial services and payments not only for younger consumers but their older counterparts.
Blockchain consortium R3 has completed the first two of three tranches in its Series A fundraising round, securing $107 million in the “world’s largest distributed ledger technology (DLT) investment to date”. The consortia contest is heating up as this handy cash injection follows on from yesterday’s (22 May) announcement from the Enterprise Ethereum Alliance (EEA) […]
SoftBank has announced its first major close with $93 billion of committed capital, and the promise to hit $100 billion within six months, reports Telecoms.com (Banking Technology‘s sister publication). While it has been circulating in the news for some time now, it should be worth noting this is the largest private equity fund ever raised, […]
Pan-European exchange Euronext will acquire about 90% of FastMatch for $153 million as part of its expansion plans in the $5.1 trillion daily foreign exchange (FX) market. FastMatch’s management will retain about 10% interest, with minority rights. Closing is subject to regulatory and anti-trust approvals, and is expected to occur in Q3 2017. Stéphane Boujnah, […]
Montenegro-based Crnogorska Komercijalna Banka (CKB), member of Hungarian financial services group OTP, is implementing a new digital channels banking platform, Misys Fusionbanking Essence.
Corporate treasurers have a moment to treasure as Swift has unveiled its new cross-border payments “Tracker” for real-time tracing. Swift says Tracker is the “cornerstone” of its global payments innovation (gpi) initiative – which went live in February – with the aim to deliver greater speed, transparency and end to end tracking. Tracker provides a […]
Denmark’s Saxo Bank has released its new developer portal as it looks to strengthen its involvement in open banking. The portal provides technical documentation, reference guides, sample code and interactive tools. With the release, Saxo has made its trading infrastructure available to third-party developers, fintechs, vendors and partners, enabling them to connect to its trading […]
Our Community Credit Union (OCCU), a $328 million institution in the US state of Washington, has selected BankBI’s financial and banking performance software.
Exploring how the robotic process automation (RPA) powered digital workforce looks to disrupt the manual effort intensive regulatory compliance landscape in BFS, what edge it has over its human counterpart, the roadmap towards RPA driven compliance, challenges in this digitisation journey and success mantras, and innovations that are underway towards building intelligent RPA to replicate human decision-making.
The vanishing branch offices… Could more coffee save them? Richard Buckle, founder and CEO of Pyalla Technologies, muses.
Switzerland-based Finnova’s service partner InCore Bank has migrated private banks Arner Bank and Bank von Roll to its private banking hub. The hub now has 16 financial institutions, making it Switzerland’s “largest multi-tenant tower” based on Finnova Banking Software. InCore is a transaction bank which operates within the Swiss and Liechtenstein markets, and offers business […]
The Enterprise Ethereum Alliance (EEA) has seen a surge of interest in its plans to drive Ethereum blockchain technology best practices with the arrival of 86 new members. New faces include Broadridge, DTCC, Deloitte, Infosys, MUFG, National Bank of Canada, Rabobank and Samsung SDS. As Banking Technology reported in March, Banco Santander, BNY Mellon, Intel, […]
Australia-based Xinja has emerged from the shadows to unveil its plans for a mobile-only digital bank. Xinja has raised in excess of AU$2 million ($1.5 million) in its first-round funding to launch a pre-paid debit card as a precursor to establishing Australia’s first fully digital, independent “neobank” built for mobile. The bank will have no […]
It was only two days ago since the last blockchain and Bitcoin round-up, but here’s more news to keep you in the loop. Features Ripple, BitGo, Abu Dhabi Global Market, R3 and Corion. Ripple has enjoyed a good start to the year with ten more financial institutions recently jumping onboard its blockchain network; and deals […]
HSBC has been left red-faced after a BBC reporter and his non-identical twin tricked its voice ID authentication service. The BBC says its “Click” (a weekly TV show) reporter Dan Simmons created an HSBC account and signed up to the bank’s service. HSBC states that the system is secure because each person’s voice is “unique”. […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
This is a series of posts on a subject that plays on my mind a little – the application of disruption, and innovation, when it is related through the filter of our use of language, and our desire to seem advanced. This instalment is about social media efforts.
This free webinar provides a discussion around how to utilise e-signatures to unlock the full potential of mobile banking applications.
Innotribe, Swift’s innovation arm, has revealed the three winners of its third 2017 Startup Challenge for Africa in Abidjan, Ivory Coast. Each start-up receives a €10,000 cash prize and will share their insights about innovation in Africa at Sibos in Toronto. The trio are: IroFit Technologies – offers small businesses processing for in-store mobile/card payments […]
LeasePlan, one of the world’s largest fleet management specialists, is undertaking an enterprise-wide technology overhaul with SAP.
Wells Fargo has selected two new companies – ProxToMe and Uniken – to join its Wells Fargo Start-up Accelerator.
Internet giant Google has launched Cloud IoT Core, a new service in its Google Cloud Platform designed to extend its capabilities to distributed devices.
Samsung Pay has officially launched in the UK, continuing the evolution of the digital economy, but does this technology have the potential to disrupt the global pecking order?
Once upon a time, not so long ago, companies tried to generate new business by sending marketing messages to prospective clients by post. Direct or “junk” mail – sending a leaflet or letter to anyone for whom the firm had a job title, street address or postcode – was pretty unsophisticated, often derided as a “scattergun” approach.
Equifax, credit information provider Castlight and Oakbrook Finance, the owners of consumer loan brand Likely Loans, have teamed up to develop new products for the 2018 open banking initiative. Under open banking, Equifax says bank transaction data will play a crucial role in lending decisions. Lenders will have access to real-time and historic account and […]
Crosstown Civic Credit Union, a 31,000-member institution in Winnipeg, Canada, is modernising its digital banking delivery channels with Central 1 Credit Union. Crosstown Civic CU is implementing Central 1’s MemberDirect platform, provided on a hosted basis.
