The light of dead stars
The light of dead stars looks the same as any other. But it doesn’t prove the star is still thriving.
BankingTech
Banking Tech Awards USA 2023 winner: SavvyMoney – the power of partnerships in fintech & banking
Digging into why so many FIs are turning to fintechs versus developing their own solutions.
GAT Investment Bank taps Currencycloud for new app launch
The app will leverage Currencycloud’s multi-currency virtual accounts for cross-border payment services.
NatWest chief exec Alison Rose steps down with immediate effect
The group’s board of directors says Rose has “agreed by mutual consent to step down”.
UBS to pay $388m in fines relating to Credit Suisse’s doomed dealings with Archegos
The US Federal Reserve has fined Credit Suisse $269 million, with the UK’s PRA issuing a further $119 million fine.
How telco software giant Amdocs is looking to make waves in fintech
FinTech Futures speaks with Amdocs’ Zur Yahalom about the company’s move into the fintech space.
Italy’s Mediobanca partners Founders Factory for new UK fintech venture studio
The joint venture is central to the Italian bank’s strategic plan to strengthen its technology ecosystem.
Vietnam’s OCB taps Backbase for personalised digital banking solution
The project implementation will be led by Backbase’s partner SmartOSC.
Q&A: Andrew McKibben, Bank of America – resilience, automation tech & connected banking
Discussing the changing relationship between fintechs and banks amid an increasingly interconnected tech landscape.
Jordan’s Bank al Etihad to deploy NetGuardians’ fraud prevention tech
With NetGuardians’ solution, the bank aims to strengthen its fraud prevention capabilities.
Banco Santander, BBVA and CaixaBank team up to tackle fraud with FrauDfense
FrauDfense is a new company set up to enable the exchange of information between the three banks.
Dutch challenger Bunq lands additional €44.5m funding to fuel international expansion
The digital bank says it has now raised around €100m in funding over this year alone.
JP Morgan CEO confirms German expansion for Chase digital bank
The confirmation comes two years after the digital bank launched in the UK.
Report: The future of digital trust – Authentaverse
This free, in-depth report discusses governance frameworks and technological building blocks for Authentaverse.
UK challenger Atom Bank records first ever annual operating profit
The bank has seen its customer count jump from around 123,000 during FY22 to 224,000 at present.
Banking Tech Awards 2023: Nominations deadline extended!
Submit your nominations before 4 August 2023!
HSBC appoints two new senior execs to its Global Payments unit
Martijn Stoker joins HSBC from JP Morgan, and Melissa Tuozzolo from Bank of America.
Q&A: David Morris, CCO of Yorkshire Building Society – automation, digitalisation & service
David Morris discusses automation, its impact on customer service and the changing nature of branch-based banking.
Finalists announced for PayTech Awards USA 2023
We are thrilled to share with you the finalists for the first PayTech Awards USA!
UK’s Clockwise Credit Union launches self-built core banking solution
Clockwise’s IT manager says the launch is a “culmination of a huge amount of work over the past six years”.
Virgin Money to shutter 39 bank branches across the UK
The closures, which will take effect in October, will leave Virgin Money with 91 bank branches in the UK.
N26 reportedly cuts 15% of Brazilian workforce
N26 Brazil has laid off around 20 staff, according to local news outlet Estadao.
Salve Financial Hub signs for Finastra Essence to reduce payment delays
The San Marino-based fintech will deploy Finastra’s SaaS solution for high-value corporate payment processing.
Go green software – your bonus may depend on it!
Embracing green software principles can unlock numerous benefits for financial services firms.
The US Federal Reserve launches new instant payments system FedNow
FedNow operates in parallel with the Federal Reserve’s existing payment services, Fedwire and FedACH.
Deutsche Bank fined $186m by US Federal Reserve
The Fed says it found that Deutsche Bank made “insufficient remedial progress” in fixing its AML controls.
Webinar | 6 September 2023: Pioneering innovative partnerships – unveiling the game-changing fintech hybrid model at the point-of-need
An insightful journey through the experience of the successful implementation of the hybrid start-up model.
Nordea acquires Danske Bank’s Norwegian personal customer and private banking business
The agreement is set to bring approximately 285,000 new customers to Nordea.
Myanmar’s FDB Bank signs for Oracle’s Flexcube core banking system
The signing and project kick-off took place this week in Yangon, Myanmar.
Germany’s BaFin provides updated order on the prevention of money laundering at N26
N26 will reportedly continue to be restricted to 50,000 new customer acquisitions per month.
Odd socks
Consultants can help you work out where you stand. But be sure to join in with the ‘working it out’ part.
Stanford Federal Credit Union overhauls digital engagement through Agent IQ partnership
The partnership will see Stanford FCU leverage Agent IQ’s digital engagement platform Lynq.
Yazan Hamdan joins Bank of Jordan as new head of digital banking
Hamdan joins the bank from Jordan’s first neobank Blink, where he served as platform lead since December 2021.
Starling Bank taps Napier for transaction screening solution
Starling Bank will utilise Napier’s anti-money laundering (AML) and counter-terrorism financing (CTF) technology.
Corelation signs three more credit unions for core processing
All three are preparing their organisations for future growth with higher member engagement.
How Swedbank partnered with competitors to create a new payment method
A look at how Swedbank and members of the Swedish Bankers’ Association worked together to develop Swish.
Banque Saudi Fransi completes payment processing upgrades with TCS
The Saudi bank selected TCS BaNCS to digitise its IT landscape across deposits, lending and payments.
Lloyds Banking Group customers can now lease a car via mobile app
Lloyds claims it is the first UK bank to launch such an offering, now available to 11 million customers.
ila Bank taps Arab Financial Services for prepaid card offering
The Bahraini denominated card can be used to pay for transactions in both an in-store and online setting.
Banking transformation begins and ends with the customer
Incumbent banks need to adapt and evolve to ensure they’re meeting shifting customer needs.
