Trustfolio teams up with Equifax for open banking-powered debt advisory solution
The solution on Trustfolio’s Debt Adviser Support Portal will provide access to banking transaction data.
BankingTech
Banks, broccoli and the peril of going out of date
Like broccoli, a bank can go out of date before anybody realises.
Bank Islam taps Kestrl to offer financial management tools in Be U app
The firm will incorporate Kestrl’s personal financial management tools into Be U by the end of the year.
New legislative regulations are a cybersecurity game-changer for the FS industry
The SEC has proposed new cybersecurity regulations that will impact FS businesses.
ANZ New Zealand selects FIS for core banking upgrade
The firm will be the first bank outside the US to utilise FIS’ Modern Banking Platform.
Central Payments lands $30m, spins out from Central Bank of Kansas City
The bank will continue as an investor, issuer and strategic partner.
FinTech Futures: Top five stories of the week – 12 August 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Composing the future of banks
Flexibility, agility and innovation are core competencies that will keep banks competitive through the next decade.
BaaS start-up Unit partners Thread to offer embedded banking services
Unit says the collaboration with Thread will “empower more companies to offer unique banking solutions”.
Banking Tech Awards 2022 – nomination deadline extended
The deadline for nominations for the Banking Tech Awards 2022 is now Friday 19 August.
Great Southern Bank selects Fiserv for core banking upgrade
The bank will utilise DNA from Fiserv as its new core processing platform.
Timberland Bank taps Plinqit for financial wellness and savings tools
Customers can now access digital tools designed to improve financial literacy and establish saving habits.
The blurred line between ‘utility’ and ‘value’
You’ll always need a little more tech than you needed yesterday, but at least you don’t need to build it all.
Jack Henry snaps up Payrailz for undisclosed sum
The acquisition is expected to close on 31 August 2022.
Yes Bank taps IBSFintech to digitise services for corporate clients
The partnership aims to enable paperless communication across treasury and trade finance processes.
Neobank Nuri files for insolvency due to “challenging” market conditions
The Berlin-based neobank says the action will not affect its services, customer funds or investments.
Klarpay AG CEO on bridging the gap between online companies and transactional banking
Klarpay solves one of the biggest challenges faced by digital businesses – access to efficient transactional banking.
KeyBank taps BlueSnap to facilitate cross-border e-commerce payments
KeyBank says BlueSnap’s operating model will give clients the flexibility to process global payments.
CFPB investigating Goldman Sachs over credit card practices
Goldman Sachs says it is cooperating with the regulatory body.
Does a recession lead to more financial fraud?
A recession brings new challenges to FIs within a changing fraud landscape.
Valley National Bancorp invests $25m in fintech-focused VC The Garage
The Garage builds and invests in early-stage start-ups in fintech, artificial intelligence and cyber.
UK challenger Dozens set to close by end of the month
The Dozens app is set to close by the end of August.
UK challenger Recognise Bank appoints new CEO, Jean Murphy
Murphy brings more than 25 years’ worth of banking and capital markets experience to the role.
South Africa’s TymeBank to acquire SME funding fintech Retail Capital
Retail Capital will form the foundation of an expanded business banking offering within TymeBank.
NatWest’s director of payments leaves to join Bibby Financial Services
Marion King spent over seven years in her role at NatWest.
Embedded finance: navigating the challenges
There are a few challenges to be aware of before entering the world of embedded finance.
FinTech Futures: Top five stories of the week – 5 August 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Mansfield Building Society partners DirectID to streamline mortgage applications
Mortgage applicants can now securely provide their bank statements online via open banking.
Umba acquires 66.6% stake in Kenyan microfinance lender Daraja
The Central Bank of Kenya says the deal will “support the stability of Kenya’s microfinance banking sector”.
XR, banks and rewiring the system
Rewiring the economic system will be a challenge, but I think it’s supercritical.
The Co-operative Bank taps Finastra for treasury infrastructure upgrade
The bank is moving its treasury activities to the cloud with Finastra’s Kondor solution.
UK challenger Monument partners Persistent to build digital banking platform
Persistent’s “building block” approach will allow the challenger to add new SaaS components as required.
Arvest Bank hires Ninish Ukkan as new CTO
At Arvest, Ukkan will support its digital transformation by leading the new core banking technology initiative.
Spare me your ‘good conversations’
A good conversation is one that leads to an outcome that isn’t an identical conversation.
African neobank 4G Capital goes live on Mambu’s cloud banking platform
The micro and small business-focused bank is looking to scale across East Africa.
BDCD in banking tech overhaul with BML Istisharat
BML’s ICBS core banking system will replace Sopra’s legacy solution at BDCD.
Regulation and how financial services can stay compliant
Firms are looking to use hybrid, multi-cloud frameworks to manage ever-increasing amounts of data.
Private equity firms buy stake in India’s Yes Bank as part of $1.1bn capital raise
Carlyle Group and Advent International have both agreed to acquire up to a 10% stake in the bank.
Digital business bank Grasshopper lands $30.4m funding
The fresh capital takes the bank’s total funding to date up to $160 million.
Bank of New Zealand taps NCR for ATM-as-a-Service solution
The move forms part of the bank’s digital transformation efforts.
