Canada’s banking group CIBC, fintech firm Borrowell and Equifax Canada have unveiled a free credit score for mobile banking users – a “first for a major Canadian Bank”. The credit score is accessed through the CIBC mobile banking app, and clients can get their Equifax credit score which will be updated quarterly, allowing them to […]
Watch out Samsung Pay, but South Korean titan LG Electronics has unleashed its mobile payment service in the country. Called LG Pay, it will be offered first as a service that allows users to pay offline in the same way as a credit card. Its use is limited at the moment to Shinhan, KB, BC […]
The UK’s Nationwide Building Society has opted for release management software from cloud technology start-up Cutover. The deal means London-based Cutover will be the “first completely cloud-based tool with no footprint within Nationwide’s infrastructure”. Cutover’s software lets teams plan, rehearse and execute events. It also offers real-time status visualisation and communications across SMS, voice and […]
Consulting firm EY will acquire Australian cybersecurity and identity and access management (IAM) provider Open Windows. EY says Melbourne-based Open Windows’ expertise and tools will form the basis of a new Asia-Pacific regional IAM advisory platform within EY, to help assess, design, build and operate solutions. Lynn Kraus, Oceania managing partner advisory, EY, says it […]
Following Airbnb’s acquisition of crowdfunding and social payments start-up Tilt in February, it is now being wound down. Tilt (formerly Crowdtilt) was built with the aim to allow groups and communities to collect, fundraise, or pool money online. It was founded five years ago with high hopes. Its co-founder and CEO James Beshara said at […]
Argent Credit Union in the US state of Virginia has converted to a new core processing platform, Keystone from domestic software developer Corelation.
The Association of British Credit Unions (Abcul) says it is making progress with its Model Credit Union initiative, to modernise the tech and operations of its members. Three credit unions are now live with new core and mobile banking software.
Fintech zeitgeist! Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye. This week, we sum up the predictions made by Google’s illustrious chief futurist, Ray Kurzweil, on what awaits us this century. 2019 Farewell cables. […]
Towarowa Gielda Energii (TGE – Polish Power Exchange) has launched a new trading system provided by Nasdaq. Nasdaq has partnered with TGE since 2008 and the new technology allows TGE to expand future activities, including adding commodity and derivative instruments to its business offering. The trading platform features multi-market model support, a range of order […]
Private equity firm GTCR will buy Virginia-based Sage Payment Solutions (SPS) for $260 million. Chicago-based GTCR is acquiring SPS from the Sage Group, a provider of accounting, payroll and payment solutions headquartered in the UK. GTCR says it will work with SPS management to pursue organic growth and fund future acquisitions in the payment processing […]
An explosive growth in data and information, coupled with advances in technology and a boost in methods of communication, have given rise to an empowered and aware global customer. And to provide legendary experience to their customers, maintain a competitive edge and to make better and sound decisions, organisations need to harness insights from this ever growing “big data”.
From Russian banks to Greek lawyers. Our latest blockchain and Bitcoin report rounds up the news into a quick and easy read. Russian news agency TASS reports that Bank of Russia, the nation’s central bank, will develop a national cryptocurrency. At the St. Petersburg International Economic Forum 2017, the regulator’s deputy chairperson Olga Skorobogatova says: […]
It’s not only the end of the working week but the end of the line for Edinburgh-based payments firm Helixion. The company has gone into liquidation and intellectual property (IP) firm Metis Partners has been appointed to support the marketing and sale of its assets. On Metis’ website, it says the deadline for offers has […]
Six graduating start-ups from Startupbootcamp FinTech Mumbai have secured pilots with banks and corporates such as RBL Bank, ICICI Bank and State Bank of India (SBI). At Startupbootcamp’s demo day at the Royal Opera House in Mumbai, 11 start-ups showcased technologies in financial services to more than 400 guests. Propositions included SME banking, blockchain, digital […]
Securities processing software vendor GBST has migrated the back and middle-office operations of Deutsche Bank from the legacy GBST Shares platform to GBST Syn for processing the bank’s equity market trades in Australia. This is GBST’s fourth live Syn installation in the country. Other users are Macquarie Bank, Citi Australia and brokerage and investment firm […]
The money’s rolling in for fintech – as this round-up follows hot on the heels from 30 May. This latest report features Zopa, RateSetter and Niyogin Fintech. The plans of peer-to-peer (P2P) lender Zopa to launch a new digital-only bank in the UK are going well as it has completed a £32 million funding round […]
Myanmar-based Ayeyarwady Bank (AYA Bank) has signed for Misys’ Fusionbanking Essence core banking platform.
Hong Kong is looking to boost its fintech scene with an initiative to help tech firms take the right road for their initial public offering (IPO). Hong Kong Science and Technology Parks Corporation (HKSTP) and Hong Kong Exchanges and Clearing (HKEX) have launched their “Road to IPO” platform. It’s not purely for fintech as the […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Swedish financial services group SEB has selected Canada-based CGI’s Trade360 solution for trade finance and emerging digital technologies, such as blockchain. CGI Trade360 is a cloud-based transaction platform and includes a portal for end-to-end transaction management, including regulatory compliance. SEB is the first bank headquartered in Europe that will implement the solution. Robert Pehrson, head […]
Sterling Bank and Trust, a new bank in the Bahamas, has selected the BankWare core system from UK-based International Financial Systems’ (iFinancial). The bank will be using the multi-currency accounting, exposure management, current accounts, deposits, loans, payments, and Swift modules from the BankWare portfolio of retail and wholesale banking solutions. The bank is part of […]
US-based InvestCloud has a spring(bok) in its step as it has been appointed by South Africa’s Anchor Private Clients to provide digital client communication and client reporting solutions. Johannesburg-headquartered Anchor Private Clients, the private client division of Anchor Group, specialises in investment management and advice for private clients across South Africa and internationally. Its parent […]
HSBC is entering the robo-advice market with the launch of a new online service for wealth management advice The service will use data and algorithms and will make personal recommendations based on an individual’s circumstances. It is expected to be available by the end of the year. The bank says this will “open up wealth […]
Deloitte has acquired design consultancy firm Market Gravity as it looks for a lift and the chance to moisten its creative juices. Founded in 2009 and headquartered in London with teams in New York, Edinburgh and Toronto, Market Gravity works across multiple sectors including financial services, retail, energy, telecoms and automotive. It recently helped UK-based […]
US payments firm Flywire has acquired PACE Invoice, a multi-currency invoicing platform provider based in London. International business law firm Addleshaw Goddard advised PACE on this transaction. With the acquisition, Flywire adds international invoicing to its cross-border payments and receivables services, enabling its business, education and healthcare clients to “more easily link invoices to cross-border […]
The First MicroFinance Bank in Afghanistan (FMFB-A) has chosen Accuity for regulatory compliance screening of its customer accounts and cross-border transactions. Accuity says it will help FMFB-A enhance the performance of its compliance operations by eliminating manual procedures and speeding up the end-to-end process with its automated regulatory list updates and real-time screening of transactions […]
R3 and four Japanese financial institutions (FIs) have joined forces to use blockchain in a derivatives prototype test. Nomura, Daiwa Securities Group, Mizuho, Sumitomo Mitsui Banking Corporation and R3 have tested a prototype developed using Corda, R3’s distributed ledger technology (DLT) platform based on blockchain, to streamline International Swaps and Derivatives Association (ISDA) Master Agreement […]
Article 50, triggered just nine months after Brexit was officially announced, will give the UK exactly two years to strike a deal with the EU concerning its departure from the economic and trading bloc. What will be the impact of the referendum on the square mile? Will it cease to be the major financial hub this side of the Atlantic?
Android Pay has now launched in Taiwan and users can add an eligible Visa or Mastercard credit card from one of its supported banks, including CTBC and First Bank. It will have the usual rivals – Apple Pay arrived in Taiwan in March this year, while Samsung Pay was launched across the island nation just […]
With an intended jolt and volt of energy, Yolt, a new money platform backed by ING, has launched its open beta for iOS and Android in the UK. The app has been tested in closed beta since October last year, and is now ready to invite more people to the platform. Yolt enables users to […]
DLA Piper’s John D. McGonagle speculates on what the rise of blockchain technology might mean for the future of banking, the feedback which the UK regulator FCA may receive from interested stakeholders, and some of the regulatory and legal hurdles which blockchain technology may need to negotiate in the near future.
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
A.J. Koehn has joined Urban FT Inc., a digital payments platform provider and 2017 Pay Awards winner for Startup of the Year, as its new senior vice president of compliance and program management.
ABN Amro, ING, Rabobank and Geldservice Nederland (GSN) have teamed up to explore a potential initiative to ensure the availability of ATMs in the Netherlands. These discussions are being conducted in consultation with the nation’s central bank, De Nederlandsche Bank (DNB), and draw upon “successful initiatives” in Sweden and Finland. With the rise of digital […]
Cisco and IBM Security have joined forces for products, services and threat intelligence as they seek to improve their market share and combat cybercrime. Cisco will integrate its security solutions with IBM’s QRadar for network, endpoint and cloud protection. IBM says this also establishes a new relationship between its IBM X-Force and Cisco Talos security […]
There is no question that the commercial card sector is growing strongly. According to Research and Markets, the US commercial card market in particular is outstripping other B2B payment types. For banks and banking services providers, this presents a huge opportunity to grow revenues while improving customer experience – a vital component in customer retention and increased lifetime value.
A consortium of Spanish companies has created Red Lyra, the “first multisector technology platform in the world based on blockchain”. Lyra comprises fintech and non-fintech companies, professionals, and experts in blockchain. Its founding members include Banco Sabadell, Banco Santander, Bankia, BBVA, Bolsas y Mercados Españoles (BME) and consulting firm Grant Thornton. In fact, just last […]
Deutsche Bank has named Tommaso Zanobini global head of financial technology.
Sweden’s central bank, Sveriges Riksbank, has finally gone live on Intellect Design Arena’s Quantum Collateral Management Solution (QCMS). The bank signed for the system back in 2013. QCMS provides automation of market operations and intraday liquidity provision, and Intellect says Riksbank will benefit from real-time control, multiple collateral pools and “better cover” over the exposure […]
Fidor, a digital banking solutions provider, has appointed Jeff Hibbard chief product officer. Hibbard’s focus is on driving product innovation for Fidor’s operating system.
