Bank of Baroda calls on fintech start-ups to help solve payment challenge
India’s second largest bank, Bank of Baroda, is calling on fintech start-ups to solve the challenge of paying blue-collar workers.
BankingTech
It’s time to talk ATM 2.0
The ATM is one of the most recognised and trusted pieces of technology on the high-street, but as it too has come under pressure from the wave of digitalisation sweeping almost every aspect of our everyday lives. The humble ATM is no longer a single physical touch point…
More banks to opt out of R3 blockchain consortium
US Bancorp, Macquarie and JP Morgan are understood to be in the “leave” camp as they have opted out of the upcoming fundraising effort of the R3 blockchain consortium.
Macif Group in major IT overhaul with NeoXam
Macif Group is revamping its investment administration and accounting tech, and has selected NeoXam to assist with the project. It will help implement the new software and will also host it.
Top fintech stories this week – 25 November 2016
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Wolters Kluwer wins system selection at Bank of Jordan
Risk management software vendor Wolters Kluwer says its OneSumX system won Bank of Jordan’s tender. OneSumX will support the bank’s liquidity risk and asset and liability management (ALM) operations.
Fintech funding round-up: 24 November 2016
Let’s put the fun in funding by keeping it mercifully brief. Money seekers are PayKey, Euklid and Flender.
National Bank of Malawi opts for NetGuardians system to prevent fraud
National Bank of Malawi is implementing the FraudGuardian platform from Swiss specialist vendor NetGuardians. The new solution will “protect customers’ data and prevent fraud,” the vendor says.
British Business Bank pledges £400m to UK fintechs and other businesses
The UK Chancellor Philip Hammond has announced a plan to invest £400 million of venture capital funds into the British Business Bank, a government vehicle to lend money to British businesses. The idea is to support the home-grown business sector – including fintech firms – and to prevent them from being snapped up by international companies.
APIs: open for business
No longer are the mid-tier banks doomed to be extinct! The arrival of open application programming interfaces (APIs) will enable them not just to survive but to prosper, states Chris Truce, director of platform development at Saxo Bank.
Infographics: the fintech landscape
It’s infographics time! A great compilation of fintech companies, showing how we’ve gone from graph paper to personal data algorithms – and everything in between.
Start-ups assemble for Startupbootcamp FinTech London demo day
Startupbootcamp FinTech London will host its Demo Day on 1 December for the third year with ten firms lined up for action. The ten companies taking the stage will showcase their fintech, ranging from SME banking, regtech, chatbots, artificial intelligence (AI) and blockchain. Francisco Lorca, MD of Startupbootcamp FinTech London, says the variety of the […]
Morgan Stanley and National Australia Bank to leave R3?
Morgan Stanley and National Australia Bank (NAB) are understood not to be renewing their membership with the R3 blockchain consortium.
Streamlining payments industry in Africa
The economy of the future will need a vastly different platform for making payments. Consumers and corporations will need access to easier, faster and flexible platforms. I have entered the market with the bold objective of bringing to South Africa and Africa, the revolutions underway in global payments infrastructure – and the necessity of re-design to keep up with the “payments Joneses”.
Fundinfo launches Digital Advisor, intelligent fund selector
Fundinfo says its new cloud-based fund selection system, Digital Advisor, considers “investor’s emotional preferences” in addition to analysing active and passive funds.
Ancoa’s surveillance platform helps Dinosaur Merchant Bank to comply with MAR
Dinosaur Merchant Bank, a UK-based investment management, brokerage and advisory firm, has deployed Ancoa’s surveillance platform to monitor its equity trading activity for instances of market abuse and to meet their obligations under Market Abuse Regulation (MAR).
Android Pay launches in Poland
Android Pay is now live in Poland – the first country on continental Europe to launch the service.
R3 blockchain consortium loses another member, Santander
Santander has decided to leave the R3 blockchain consortium, which it joined last December. Meanwhile, R3 has slashed its fundraising target to $150 million from the original $200 million.
Goldman Sachs leaves R3 blockchain consortium
Goldman Sachs has dropped out of the R3 blockchain consortium, according to the Wall Street Journal. The bank was one of nine original members of R3, but let its membership lapse. A spokeswoman for Goldman Sachs told the Wall Street Journal that it will continue to work with blockchain. No other details were forthcoming. As […]
ICCREA Banca goes on the record about Misys project
Italy’s ICCREA Banca has gone public on its project to modernise its trading business ops with Misys. Misys is providing its FusionCapital Kondor and Summit treasury and capital markets (TCM) solutions to the bank. The Summit system has been running at ICCREA for over a decade. Kondor was selected by the bank in 2013, Banking […]
ME Bank unveils new internet banking service
Australia’s ME Bank has launched a new internet banking service in a joint project with Sandstone Technology. The new service builds on Sandstone’s digital BankFast platform and includes “enhanced” security and a new Liferay portal based dashboard; supporting customisation and inclusion of superannuation account details along with bank account details. ME Bank’s brand and digital […]
Vancity CU goes live on Temenos T24 core banking system
Vancouver City Savings Credit Union (Vancity), the largest credit union in Canada, has gone live on Temenos’ T24 core banking system. Vancity chose Temenos back in 2010. Consultancy firm VenuxSoft, which provides support for Temenos T24 in North America, assisted with the implementation. This included requirements analysis, software development, quality assurance, support and training. Vancity […]
Metro Bank launches new online platform with Backbase
Metro Bank has launched a new online banking platform for its commercial banking customers. It is based on the Backbase Onmichannel Banking Platform.
Move over, London and Berlin, Singapore’s fintech ecosystem is surging ahead
In her new column for Banking Technology, Devie Mohan, a fintech market strategist, looks at how Singapore has created a fintech ecosystem that is a major threat to the ones in London and Berlin.
Creating a hyperconnected corporate bank of the future
Banks are not competing with banks anymore, but against the ubiquitous, all pervading unified digital experience, which is driving the adoption of digital across the corporate banking value chain. Fintechs are a great example of how innovations in digital can deliver speed to market, a superior customer experience and better pricing.
NatWest trials BioCatch behavioural biometrics tech
UK-based high street bank NatWest (part of the RBS group) has trialled the BioCatch behavioural biometrics technology for business customers and is planning to pilot the solution for retail clients next year.
Top fintech stories this week – 18 November 2016
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! FNZ to build new BPO centre EXCLUSIVE. For Société Générale’s private banking business Mizuho Bank gears up for new core banking system go-live Keen to modernise after large-scale system failures in 2011. Big three explore blockchain for consumer […]
Banking Technology and ISITC Europe team up for AGM
ISITC Europe, a voluntary, non-profit organisation promoting operational efficiency, harmonisation and education in the capital markets space, will turn 25 years old on 26th January 2017.
European Commission launches fintech task force
The European Commission (EC) has set up a fintech task force as it looks to boost innovation in the region. Called the Financial Technology Task Force (FTTF), it brings together services responsible for financial regulation and for the “digital single market”, along with others dealing with competition and consumer protection policy. FTTF will be co-chaired […]
Lender firm Zopa to launch new digital bank
The “world’s first” peer-to-peer lender Zopa plans to launch a new digital-only bank in the UK. The application for a banking licence will be made to the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). The firm says the regulatory application process should take about 15-24 months. Jaidev Janardana, CEO of Zopa, says […]
Sterling Bank live with new core banking system, Temenos’ T24
Nigeria-based Sterling Bank has gone live with a new core banking system – Temenos’ T24 – in a “big-bang” switchover. The new platform was rolled out across the entire branch network of Sterling – 185 locations. The platform is used to support all main retail and corporate operations of the bank. Temenos refers to the […]
Cheques: the age of dinosaurs
There is little doubt that there is some very innovative work being carried out in the payments world. Digital technologies, including distributed ledger and artificial intelligence, are beginning to be applied to retail and corporate payments. But in the age of digital finance, a dinosaur of payments – cheques – persist.
Three Finnish banks launch real-time mobile payments platform, Siirto
OP Bank, Nordea and Danske Bank have launched a new real-time, multibank mobile payments platform in Finland. The platform was built by Tieto and Automatia (the latter operates the three banks’ shared ATM network).
Wells Fargo turns to SigFig for robo-advisory tech
SigFig, a San Francisco-based fintech start-up, is partnering with Wells Fargo to provide the bank’s clients with its robo-advisory tech and wealth management tools. A pilot version will be rolled out in H1 2017.
ClauseMatch and JWG develop new reg reporting solution at TechSprint
ClauseMatch and JWG have teamed up at the recent TechSprint event organised by the Financial Conduct Authority (FCA) to develop a new regulatory reporting solution.
FNZ to build new BPO centre for Kleinwort Benson, SG Hambros and Société Générale’s private banking business
FNZ, an investment management software specialist, is working on a major technology revamp at the UK-based private bank and wealth manager Kleinwort Benson, Banking Technology understands.
XBRL in India’s regulatory reporting: today and tomorrow
Where is India with the adoption of the eXtensible Business Reporting Language (XBRL) so far, and what is the outlook for the future?
Mizuho Bank gears up for new core banking system go-live
Japan’s Mizuho Bank is going to move to a new core banking platform in early 2017, Banking Technology understands. The cost of the project is believed to be JPY 300 billion ($2.8 billion).
Infographics: the inevitable blockchain
It’s blockchain infographics time!
Jordan Ahli Bank live with Temenos T24 core banking system
Jordan Ahli Bank is live with new core banking software, Temenos’ T24. The go-live is a result of a four-year effort.
