Token, a Silicon Valley-based crypto-payment software provider, and digital bank Fidor have signed a memorandum of understanding (MoU) for digital payments. The MoU will see Token’s software made available within Fidor OS, its digital banking and open community middleware solution. Steve Kirsch, founder and CEO of Token, says its software enables banks to “call the […]
ICAP, a UK-based financial services firm, is jumping on the bandwagon and getting ready to process foreign exchange (FX) trades on blockchain, according to the Financial Times. As Banking Technology reported earlier this year, ICAP’s post trade risk and information division completed a proof of technology test case for blockchain – so its interest is […]
Temenos has gone on the record about its core banking software deal with US-based Commerce Bank. As reported exclusively by Banking Technology in June, Temenos was heading towards a contract with Commerce Bank – competing with Fiserv and its DNA offering.
I am blind as a bat, and there are times when it’s an advantage to be blind, or deaf, or even dumb to certain insults, certain situations, certain obstacles. Clearly it’s a double-edged sword because being deaf, dumb, and blind to impediments, pitfalls, and danger zones is just asking for disaster.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
The PSD2 directive will let third parties use the information stored in financial institutions and the only path to achieve this leads through an open API. The API is now being discussed and developed, but it’s not clear when it will be finalised, released and deployed.
Citi and FIS have formed separate agreements with PayPal for Citi cardmembers and FIS linking payment cards. For Citi, its customers will be able to use their Citi Cards with PayPal – online, in-app and in store – in 2017. Terms of the agreement are not being disclosed. With this agreement, Citi says it is […]
Ghana-based Beige Capital Savings and Loans (BCSL) is in the final stages of rolling out Temenos’ T24 core banking system. The T24 project formally kicked off in February this year, after the November 2015 launch of BCSL’s new technology centre in Accra. During that same period consultants from Temenos and London-based systems integrator Jethro were […]
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
At last week’s RegTech Futures summit in Amsterdam, organised by FinTech Futures and supported by Banking Technology, the potential of regtech innovators to re-imagine compliance – reducing the cost, creating more robust systems and creating new opportunities for deeper digitisation – was discussed in depth.
Italy’s largest bank UniCredit plans to raise €13 billion and axe 14,000 jobs over the next two years as it looks to get its finances in order. Along with the job cuts, which amount to about 11% of its workforce, UniCredit will shut down about 25% of its 3,800 branches. It also aims to use […]
Oklahoma-based Mabrey Bank has migrated its IT infrastructure and core processing to an outsourced delivery model with US-based banking software heavyweight Jack Henry. The bank moved its IT infrastructure to the cloud computing environment, Gladiator Hosted Network Solutions, and then migrated its CIF 20/20 core processing system to JHA OutLink Processing Services. Carlisle Mabrey, IV, […]
Who is investing in what? Our latest fintech funding round-up, mercifully brief as usual. Featuring ApplePie Capital and Firepay.
Orabank, a retail, SME and corporate banking group based out of Togo, has completed the implementation the Sopra Banking Amplitude core system, supplied by Sopra Banking Software. The new, standardised solution has been rolled out across 12 countries in West and Central Africa.
UK-based challenger bank Metro Bank has moved its IT infrastructure to a Rackspace managed cloud solution. Rackspace says this has reduced the bank’s close-of-business processing time by 50% and report production time by two-thirds.
Wyelands Bank (formerly Tungsten Bank) is relaunching in 2017 with a new core banking system.
Given the pace of change and innovation underway in traditional industries it would take a brave person to predict how the finance industry will look in five years’ time, however I don’t believe high street banks will disappear and be replaced by online blockchain alternatives, the regulatory hurdles are just too high.
Online Banking Solutions (OBS), an Atlanta-based provider of cash management software, is being taken over by banking tech giant Fiserv.
Cater Allen, a London-based private bank and a subsidiary of Santander, has completed “the discovery phase” of the project with Temenos to overhaul its core banking software.
Swedish Export Credit Corporation (SEK) is implementing Wolters Kluwer’s OneSumX regulatory reporting software for International Financial Reporting Standards (IFRS) 9 reporting.
With so much fintech funding activity going on, we’ve summarised the latest fundraising efforts of start-ups. Featuring Lunar Way, FXCH and Polychain Capital.
AnaCap Financial Partners, a UK-based private equity firm, is set to acquire Barclays’ French retail banking business, life insurance business, wealth and investment management and brokerage operations.
Fintech start-up Bankjoy has secured two clients for its online and mobile banking software, Georgia Heritage Federal Credit Union and Wepawaug-Flagg Federal Credit Union.
Our new series of thrillers – produced and directed by CustomerXPs and Banking Technology – narrate the tales of the fight between the forces of good (the Clari5 analytics and anti-fraud software) and the forces of evil. Based on real events and guaranteed to keep you on the edge of your seat!
BNY Mellon experienced problems with processing clients’ payments instructions – it blamed the issue on its connection to Swift. The problems were subsequently resolved.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Banque de France’s banking services department has embarked on a major technology overhaul programme. It will work with a domestic software provider on this project, Sopra Banking Software, which is part of the Sopra Steria group.
Fintech funding stories can be fun if they are brief. Featuring MoneyLion, SETL and Finicity.
UK-based Coventry Building Society is believed to have embarked on a tech modernisation project and is looking for a new core system.
India-based core banking tech provider TCS Financial Solutions has gained its third live site among the UK credit unions for its Bancs core banking system, London Mutual Credit Union.
Having spent many years in the technology wilderness, has HPE finally determined the future of NonStop? Thinking about the more than 40 years that have passed since we were first introduced to fault tolerant Tandem Computers, particularly considering what transpired following the acquisition of Tandem Computers by Compaq and then Compaq by HPE, did we anticipate that there would be an expansion of the NonStop product portfolio? And to see not just one, but two distinct families of NonStop systems and with the possibility of further options featuring NonStop just around the corner? It is surprising to many that all this time hasn’t taken the sheen away from any of the magic that is NonStop!
Ontario in Canada is calling for more venture capital to come to the region as it looks to boost its fintech industry. This is the main message from a tour of Toronto, given to the international media by the Ministry of Economic Development and Growth (MEDG).
India-based National Commodity and Derivatives Exchange (NCDEX) has launched NextGen – a new trading and surveillance system developed by MillenniumIT (a trading tech subsidiary of London Stock Exchange).
IBM has unveiled a blockchain ecosystem “to help accelerate the creation of blockchain networks”. The programme “is designed for innovators looking to build real networks – venture capitalists, start-ups, systems integrators, independent software vendors and enterprise developers”.
Private & Commercial Finance Group (PCFG) has received its banking licence from the UK regulators. It is now authorised with restrictions as a bank and enters into a mobilisation period of up to 12 months.
Germany-based mobile bank N26 is taking its business fully across 17 European countries, including Spain, Italy, Greece, Ireland and Slovakia. Until now, some of these locations were in the “soft launch” phase.
A UK-based peer-to-peer (P2P) lending platform, Folk2Folk, has received full authorisation from Financial Conduct Authority (FCA).
Housing and Development Bank (HDB) in Egypt has gone live with new core banking software, Temenos’ T24. The new system ousted an in-house legacy development that “had been deeply customised to cater for HDB’s specific requirements”, according to Temenos.
IBM Watson has launched a testing programme for its cyber security tech, which includes 40 companies from various sectors worldwide. On the financial services side, participants include Sun Life Financial and Sumitomo Mitsui Banking Corporation.
UK-based core banking and anti-money laundering (AML) software vendor International Financial Systems (iFinancial) is implementing its AMLtrac solution at Global Fidelity Bank.
