Sixteen financial institutions (FIs) are onboard for CCRManager’s new electronic platform, developed for the distribution of trade finance, supply chain finance and working capital assets. Bank of China, DBS Bank, ICICI Bank, Swiss Re Corporate Solutions and UniCredit have signed up as members of the platform to support their trade risk distribution businesses. In addition, […]
The world moves fast, so you need a fast read. A round-up of key events in the blockchain and Bitcoin arena. Featuring Coinsilium Group, SatoshiPay, Aragon, ShapeShift and Kotak Mahindra Bank. Blockchain accelerator Coinsilium Group reveals that SatoshiPay, a “nano-payments” company in which Coinsilium has a 12.08% equity interest, has added PayPal as a new […]
Anyone that picks up any business publication has no doubt read about blockchain. Conceptualised around the same time as the financial crisis in 2008, blockchain as originally conceived served as a digital ledger to publicly record cryptocurrency transactions and execute contracts.
SAP has launched a blockchain platform – “ready-to-use blockchain technology” – in the SAP cloud.
SAP has made a raft of announcements (and promises) at its annual Sapphire conference in Orlando, Florida. Bill McDermott, CEO of SAP, says the company continues to be committed to its “empathy” strategy unveiled last year and the time is now for “the urgency of action”. The vendor has unveiled its new SAP Leonardo platform […]
SIX and Credit Suisse have unveiled ATMfutura – a cash dispenser which displays the same user interface and guidance on all ATMs in Switzerland. SIX and its partners were commissioned by Swiss banks to develop the centralised multivendor software and it is planned to function on all bank ATMs in the alpine nation from 2018. […]
Virgin Money has withdrawn from a potential takeover of the UK’s Co-op Bank as the struggling lender prioritises talks with a group of hedge funds about a financial restructuring, according to Sky News. As Banking Technology reported in February, the Co-op Bank was put up for sale – with the minority investor Co-op Group saying […]
Ohio-based First National Bank of Pandora has selected Fiserv’s Premier core account processing platform for a front-to-back office technology overhaul. The bank has also chosen Retail Online and Business Online from Fiserv for consumer and business online banking, Mobiliti for mobile banking, CheckFree RXP for electronic bill payment, and Web Hosting and Design Services. Todd […]
Australian bank Westpac has gone live with the first stages of its tech overhaul in Australia to move its core processes from its own premises and into the cloud. According to the Australian Financial Review, it “has already moved two core banking processes to the cloud since the end of March, and intends to have […]
This free white paper provides a structured framework for measuring performance of commercial card programmes across multiple industry sectors, suggests a range of norms for card penetration and usage, and describes the key data points for measurement. It also describes the actions that card issuers could take to maximise value from the programmes they have running: retaining business that is already fruitful, and nurturing business which could be more abundantly fruitful.
How two key technologies – cloud and cognitive – can aid banking transformation.
We look at UK fintech firms working outside of the London “bubble”, examining where they are based and why; their history; target markets; clients; tech specialisations, concerns and future plans.
UK challenger bank Tandem is axing 30 jobs after its £29 million in funding fell through earlier this year. A source has told Business Insider that Tandem has “reduced its staffing levels from around 110 to close to 80. The headcount reduction includes both redundancies and contractors who have not been renewed”. As Banking Technology […]
Moneycorp in the UK has signed an agreement to acquire US-based payments firm Commonwealth Foreign Exchange (Commonwealth FX). The acquisition, subject to regulatory licensing approvals, will allow Moneycorp to “extend the geographical reach of its payments platform”. Nick Haslehurst, chief financial and operating officer at Moneycorp, says it sees “huge potential in the US among […]
FIS and the Arkansas-based entrepreneur support organisation Venture Center have revealed the ten start-ups for their 2017 VC Fintech Accelerator, now in its second year. The 2017 programme received 295 applications from across the US and 39 other countries. The selected companies (all American, bar one) will participate in a 12-week programme designed to accelerate […]
As Temenos is now setting its sights on US banks and FIs with assets over $1 billion, smaller community banks using Trinovus’ Trinisys core system need to find new providers. Trinisys will be sunsetted in June next year.
Rabobank and Signicat have joined forces to launch a new digital identity service provider (DISP) for the Netherlands, Rabo eBusiness.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Apple Creek Bank, a $140 million financial institution with six branches in the US state of Ohio, is modernising its technology with Fiserv. The bank will implement the Precision core processing platform, delivered on a hosted basis, plus a host of auxiliary solutions from Fiserv.
HSBC is rolling out its virtual platform for business customers, LinkScreen, across its operations worldwide. The platform is already available in the UK, US and Mexico, with Canada, France and Hong Kong to follow in the coming months.
Misys has announced the availability of its solutions for German retail banks in the cloud. Diebold Nixdorf will deliver infrastructure services out of its certified data centres in Germany.
With the cost of system memory dropping 30% every 12 months, in-memory computing has become the first choice for a variety of workloads within the financial services industry. In-memory computing can provide a lower TCO for data processing systems while providing an unparalleled performance advantage.
Dubai-based Mashreq is planning its future as a branchless bank, according to a speech by CEO Abdul Aziz Al Ghurair at its 50th anniversary ceremony. With the rise in digital banking, Al Ghurair used the speech to express his understanding of the real world; and set out the bank’s vision of job cuts and embracing […]
What President Trump’s record on regulatory reform means for payments and financial services so far, and what comes next.
Royal Bank of Scotland (RBS) is cutting nearly 250 jobs as part of a back-office ops shake-up – with claims that some roles will end up in India. The bank says 92 full-time staff will be affected, while 154 contractor roles will go later this year. Most of these positions are technology-related and are based […]
Delaware-based Dover Federal Credit Union has opted for the Episys core system for in-house processing from Jack Henry’s Symitar subsidiary. According to Symitar, Dover FCU’s chief innovation officer, Travis Frey, had encountered Episys at two prior credit unions, and was “confident in the flexibility and scalability of the system”. Frey says its core selection process […]
Whether it’s blockchain, lending or core banking – everyone likes a bit of cash. Our latest funding round-up – featuring Coinsilium Group, Coindash, Kreditech, PayU and Finxact. Blockchain accelerator Coinsilium Group has completed its investment of $75,000 in Coindash, which is developing a social trading platform for cryptocurrency investors. Coinsilium will also receive an entitlement […]
Pennsylvania-based AmeriChoice Federal Credit Union has launched a new online banking platform based on the Symmetry e-banking software from Wescom Resources Group (WRG).
South Africa-based Mercantile Bank has implemented a new digital channels platform, TCS Bancs Digital, supplied by TCS Financial Solutions.
There has been a lot of rumour and speculation recently, focused around the news that Apple is working on augmented reality (AR) as its next major product. Last year, we saw how fast the take up of AR could be with the introduction of Pokémon Go that became a massive international cultural phenomenon almost overnight. Banks need to prepare sooner rather than later if they are going to take advantage of AR and not be left behind.
Kansas-based CrossFirst Bank has implemented nCino’s Bank Operating System for its commercial loan process. nCino’s cloud-based solution is built on Salesforce.com. The vendor says it combines customer relationship management, loan origination, workflow, enterprise content management, business process management and instant reporting on a single platform. Amy Fauss, chief operating officer at CrossFirst Bank, says nCino’s […]
“The first thing I do in the morning is brush my teeth and sharpen my tongue.” The acidic words of American writer Dorothy Parker. But sharp tongues will now come under the scrutiny of a new digital reputation management service. Be nice everyone and form a giant group hug. Geezeo Interactive, the marketing arm of […]
Centralway Numbrs is launching a B2B portal, enabling banks to integrate their financial products into its Numbrs Store in Germany digitally and free of charge. The firm says its store is Germany’s first financial products distribution platform, run independently of a bank. The store is part of its Numbrs app, which has got 1.5 million […]
Switzerland’s Hypothekarbank Lenzburg is opening up its Finstar core banking system to fintech firms with the use of APIs. The bank has signed an agreement with German software firm NDGIT, which supplies the APIs, and the implementation at Hypothekarbank Lenzburg will be completed by the end of May. Once implemented, its data and services will […]
Everyone loves a dreamer, except in the world of banking – where digital aspirations are swiftly cut down to size by the reality of legacy systems. That is until Luis Uguina, chief digital officer for Macquarie’s Banking and Financial Services Group, comes along and challenges everything you thought you knew about banks’ digital offerings.
The loss problems for India’s Intellect Design Arena have abated as it has revealed a profit after tax of INR 106 million ($1.65 million) in its Q4 results. As Banking Technology reported last year, Intellect’s lack of profit worsened as it disclosed a loss after tax of INR 138 million ($2 million) for the quarter […]
Deutsche Bank and a variety of German and European companies have teamed up to establish a joint, pan-industry platform for online registration, e-identity and data services. The initiative was set up by the bank, Allianz, Axel Springer, Daimler, Postbank, technology think tank Core, and location services provider Here Technologies. Their aim is to “make online […]
Barclays has unveiled its new £10 million digital safety drive in the UK as it wants to increase the public’s awareness of financial fraud risks. As part of its plan, it will offer new debit card choices to let customers turn on and off remote spending and change ATM limits. It has revealed a new […]
UK challenger bank Starling is staying busy with the launch of its real-time mobile offering, Starling Payment Services. The service, which it calls a new division of the bank, will offer sponsorship access to the UK’s major payment schemes, allowing other banks, payment service providers, and fintech companies to use real-time payments from the summer. […]
Micro-investing service Acorns Australia has chosen Moneythor’s machine-learning solution to help it analyse customers’ spending patterns and offer insights into savings. The new “My Finances” features of the Acorns app were developed with Moneythor’s engine. The solution’s predictive analytics and data classification techniques are also used to provide customers with an estimate of their future […]
