Photopay, the payment receipt scanning solution from Microblink, is now available in more countries including France, Norway, Spain and Sweden, reports Finovate (Banking Technology’s sister company). The news is the latest step in Microblink’s European expansion – begun four years ago – and brings the company’s data extraction technology to an even wider range of SME customers. […]
JP Morgan Chase is more than halfway through its five-year $30 million commitment to start-up innovation in its partnership with Centre for Financial Services Innovation’s (CFSI) FinLab, reports Finovate (Banking Technology’s sister company). Each of the past three years, fintech start-ups have been invited to apply to the accelerator which is focused on finding financial solutions for low- and […]
The UK is fighting back against cyberattacks with a new cybersecurity innovation centre in London and investment of up to £14.5 million to develop technology to help keep the nation safe. The investment will be made over the next three years to bolster the UK’s cybersecurity defences, and follows on from February, when the new […]
Pennsylvania-based Diamond Credit Union has implemented Vidyo’s technology “to unite its community and employees remotely through face-to-face video collaboration”.
Welcome back to these pages – and the almost final installation of a series that was started some months ago, talking about some of the grand sweeping statements that we hear, and make.
Do you know any special women in technology who have made a huge contribution to fintech? Then we want to know! Banking Technology and FemTechGlobal, a global diversity and inclusion organisation, are again on the look-out for all amazing women who deserve the Woman In Technology (W.I.T.) Award, part of Banking Technology’s 2017 annual Awards show. […]
Emirates NBD has launched FaceBanking, a “first-to-market service” offering video and live chat with advisors on its revamped online banking platform and mobile banking app. The new 24×7 service lets its customers connect with a personal banking advisor for queries and transactions by clicking a button on the online banking platform, “thus effectively bringing in […]
Germany-based National Bank has selected Atos for a five and a half year contract to revamp its IT infrastructure. The contract includes data centre, server, mainframe, database and storage services. Atos will deliver the operation and maintenance of the internet and application servers; and be responsible for creating customised security solutions. Thomas Stephan, head of […]
India’s SME-focused digital challenger bank Open is getting ready for its mid-August launch with a round of seed funding. Open calls itself “Asia’s first SME neo-banking start-up” and is using the same business model as Tide in the UK and Finnish start-up Holvi (recently acquired by BBVA). With its launch date in sight, the bank […]
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, Claire Calmejane, director of innovation at Lloyds Banking Group, presents “Digital Zero to Hero: Myth Debunking”. (This is part of a series […]
Alternative credit scoring company, Aire, has raised $5 million in Series A funding. The round was led by Sunstone Capital, with funds also coming from White Star Capital, which led the company’s 2016 seed round. Aire’s funding now totals $12 million, reports Finovate (Banking Technology’s sister company). The London-based company plans to use the funds […]
Robo advisor Betterment is now that much closer to achieving unicorn status – courtesy of a $70 million investment from Sweden’s Kinnevik. The investment takes Betterment’s total capital to $275 million, and gives the robo advisor a valuation estimated at $800 million, reports Finovate (Banking Technology’s sister company). Praising the “strong partnership” between his firm and Kinnevik, Betterment CEO […]
Financial wellness company DoubleNet Pay has closed $4 million in seed funding. The investment, which marks the Atlanta-based company’s first round of funding since it was founded in 2013, comes from TTV Capital and Fuqua Investments, reports Finovate (Banking Technology’s sister company). The 12-person company will use the funds to boost product development and bolster sales. […]
It’s been a busy time for second- and fiscal third-quarter earnings reports. Features Bank of America, Amex, Blackhawk Network and Visa. Banking Technology’s sister publication Paybefore reports. Bank of America (BofA) has beaten analyst expectations with earnings per share of 46 cents on revenue of $22.829 billion for the second quarter ended 30 June 2017. […]
National Bank of the Republic of Belarus, the country’s central bank, says it has created an information network based on blockchain technology, “which may be used to tackle a wide range of modern and promising banking and non-banking tasks”.
Berner Kantonalbank (Banque Cantonale de Berne or BEKB/BCBE), one of the last users of the IBIS3G core banking system, is pondering the system’s future as the contract with system provider is terminated.
State Bank of Vietnam (SVB), the country’s central bank, is live with new core banking system, Temenos’ T24. The bank has also implemented Oracle ERP (accounting and budgeting) and Tibco’s middleware.
India has seen the launch of its fourth payments bank, Fino Payments Bank. For its core banking system, the bank uses Profile from FIS, delivered on a hosted basis.
New Zealand-based Heartland Bank has gone live with its new core banking system, Oracle FSS’s Flexcube.
“Those who rule chips will rule the entire world. Those who rule data will rule the entire world. That’s what people of the future will say.” The words of Softbank’s founder and CEO Masayoshi Son, who was bigging up his company at a presentation in Tokyo and laying down some future plans that artificial intelligence […]
Mastercard can breathe a sigh of relief as the £14 billion lawsuit – a collective action over card charges that were passed on to shoppers – has been stopped by the UK’s Competition Appeal Tribunal. As reported last year, Mastercard faced the massive lawsuit. The claim was headed by ex-financial services ombudsman Walter Merricks, who […]
Microsoft has put in another solid performance with quarterly revenues standing at $24.7 billion, a 9% boost year-on-year, and full-year revenues of $89.95 billion, reports Telecoms.com (Banking Technology‘s sister publication). While the More Personal Computing unit, which for devices and gaming etc declined once again, the success of the more potent business units more than […]
Investment firm Permira will acquire a 10% equity stake in Swedish payments and banking firm Klarna. As part of the deal, Permira will buy shares from existing shareholders General Atlantic, DST Global and Niklas Adalberth, upon receipt of approval from the Swedish Financial Supervisory Authority (Finansinspektionen). Once the transfer is complete, General Atlantic and DST […]
The Chinese government has set out its bold vision to become a global leader in artificial intelligence (AI) by 2030. In a Cabinet statement, the government sees AI as integral to making China an “economic power” and is calling for the development of skills, research and educational resources to achieve “major breakthroughs” by 2025 and […]
Banking software vendor Temenos is retaining momentum with software licensing revenues rising yet again. In its Q2 2017 results, it reported total software licensing revenues of 22% year-on-year. For the previous quarter, these figures stood at a respectable 19%. The Q1 results were notable as Temenos CEO David Arnott (answering a question from an analyst) […]
Lending-as-a-Service (LaaS) specialist LendKey raised $13 million in Series C funding this week, reports Finovate (Banking Technology’s sister company). The round consisted of both equity and debt financing ($8 million of the former, $5 million of the latter) and was led by Maine-based North Atlantic Capital. Also participating in the investment were existing investors DFJ, Gotham […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Data Pitch has unleashed its new accelerator in the search for start-ups and SMEs across Europe with fresh ideas for data products and services. The plan is to connect data providers “with nagging business problems” to firms with the right solutions. It’s not limited to fintech, but successful applicants will receive up to €100,000 equity […]
In payments, the big guys just keep getting bigger and more diversified. Ingenico Group on July 20 announced its €1.5 billion (US$1.74 billion) purchase of Sweden-based payments company Bambora from Nordic Capital.
Singapore’s OCBC Bank has piloted two fintech solutions from a pair of start-ups as it looks to combat money laundering and terrorism financing via artificial intelligence (AI). The two firms involved – BlackSwan Technologies and Silent Eight – were part of OCBC’s second fintech accelerator programme, Open Vault, which was launched last year. Both companies […]
Pay Award-winning Karmic, which offers an integrated payment and expense management solution, has raised $17.2 million in a Series B round of financing. Wei Hopeman and Jim Whims have joined its board of directors.
Oracle has continued its journey into the cloud, expanding an interesting proposition to target the data sensitive and paranoid.
It’s a treble yell! Following quickly on from 18 July and 19 July, this latest fintech funding round-up features Receipt Bank, Billon Group and TickSmith. Receipt Bank, a bookkeeping automation platform (not an actual bank), has raised $50 million in Series B funding from Insight Venture Partners. The investment will be used to accelerate growth […]
Inlaks, a banking software provider in Nigeria and West Africa, has built a core banking solution together with the Central Bank of Nigeria (CBN) for the country’s microfinance sector.
The UK’s House of Lords wants you to come clean on the rise of the machines – with a call for feedback on the economic, ethical and social implications of artificial intelligence (AI). The House of Lords Select Committee on Artificial Intelligence is asking for contributions to its inquiry and is looking for pragmatic solutions […]
The fintech world has been left breathless and bewitched by the stunning revelation that UK-based challenger Jargon Bank has appointed a sales director. As reported last year, the “game changer” bank launched offering “compelling and innovative” products. This was followed in February with a payments app update; an office move in March; and a cat […]
EquityZen, a secondary marketplace for trading pre-IPO shares, has taken in $3 million in funding this week, reports Finovate (Banking Technology’s sister company). This Series A round brings the company’s total funding to $6.5 million. Draper Associates led the round, with WorldQuant Ventures also participating. The EquityZen marketplace connects shareholders of private companies with its current pool of […]
The buzz for biometrics gets bigger with TSB now eyeing up the launch of iris scanning tech to let users login into bank accounts by glancing at their phone. According to the BBC, some TSB customers will be able to do this from September when the bank introduces iris recognition to its mobile banking app. […]
It’s been a busy week for mobile wallet partnerships – and this round-up can help. Features Apple Pay, ANZ, CaixaBank, Starling and Samsung Pay. Banking Technology’s sister publication Paybefore reports. Australia and New Zealand-based banking group, ANZ, is rolling out Samsung Pay to customers in Australia. The bank says it’s the only major Australian bank […]
Melissa Global Intelligence, a provider of global contact data quality and identity-verification solutions, announced that its technology is fueling know your customer (KYC) and anti-money laundering (AML) initiatives for Meta Payment Systems, one of the largest prepaid card issuers in the US. Meta relies on Melissa to provide “a 360-degree view” of the customer, including […]
