Bank GPB International, a member of the Gazprombank group, has selected MIT’s (Micro-Informatique & Technologies) trade finance platform to support its business from Luxembourg. The MIT platform chosen by the bank comprises Credoc, the Swiss firm’s flagship back-end trade finance solution, and TRAC, its middle/front collateral management system, which provide support for transactional commodity finance […]
Microsoft and Qualcomm have invested in Team8, an Israel-based cybersecurity company. Team8 also revealed a strategic partnership with Citi to assist with developing its products, and says this latest investment brings the total raised to more than $92 million. Team8 was founded by Nadav Zafrir, Israel Grimberg and Liran Grinberg, all former members of the […]
2017 is tipped to be a big year for regtech, with many predicting the beginning of fundamental, tech-enabled transformation of the middle and back office. While the excitement around what the coming year holds for regtech is clear, it could be useful to cast our minds back to December when regtech entrepreneurs and representatives of […]
The Shanghai Prepaid Card Association is warning consumers about buying prepaid cards from certain merchants because of “malpractice in managing their prepaid card schemes”, reports Paybefore. According to an announcement on Shanghai’s municipal Website, the notice includes a blacklist of 20 companies in Shanghai for committing various infractions. The association is urging consumers to quickly […]
In the latest sign that Bitcoin is moving into the mainstream, iPayYou, a US-based platform, said its technology now will enable coffee and food purchases at Starbucks, a chain typically associated with middle- and upper-class urban and suburban lifestyles, reports Paybefore. The partnership comes as Bitcoin approaches new highs, with its price shooting past $1,100 […]
Prepaid cards accounted for 9.9 billion transactions and $270 billion in spending volume in the US in 2015 – an increase of $600 million since 2012 – but according to a study from the US Federal Reserve, prepaid growth is slowing as the products become more mainstream, reports Paybefore (Banking Technology‘s sister company). Based on survey […]
California-based InvestCloud has acquired Babel Systems in London for $20 million. Babel provides a modular and API-based trade and accounting platform, while InvestCloud has over 660 clients with “accounting needs served by legacy accounting systems that were designed in the last century”. This acquisition links InvestCloud’s digital platform with Babel’s capabilities. InvestCloud will also continue […]
The Depository Trust & Clearing Corporation (DTCC) has chosen IBM, in partnership with Axoni and R3, to provide a blockchain/distributed ledger technology (DLT) framework to drive improvements in derivatives post-trade lifecycle events. The firms will work on DTCC’s Trade Information Warehouse (TIW), building a derivatives distributed ledger solution for post-trade processing. The TIW service currently […]
Malta’s Izola Bank has chosen Munich-based Finex Solutions to overhaul its digital banking services for retail and corporate customers. The bank will use the Finex Excellence Digital Banking solution, which supports internet, tablet and mobile banking. Andrew Mifsud, CEO of Izola Bank, says it has already “successfully implemented a mobile token solution provided by Finex” […]
Norway-based banking software provider Evry has signed a new five-year agreement with a domestic banking group, Fana Sparebank, to modernise its core banking and payments tech.
Australia’s ME Bank has signed a five-year deal with tech consultancy firm Capgemini to manage its core banking functions. ME Bank says it will still look after the design and security elements of the Temenos’ T24 core banking system, while Capgemini will provide a managed service for its infrastructure. In an interview with the Australian […]
Virgin Money plans to launch a digital bank – VMDB – and is now recruiting for a head of customer experience. As Banking Technology reported in November, 10x Future Technologies, the start-up founded by former Barclays CEO Antony Jenkins, is building a digital core banking platform for Virgin Money. The latter also signed a long-term […]
A group of senior executives in India’s digital sector are looking to create a group of chief digital officers (CDOs) or equivalent in the country.
Centenary Bank in Uganda has gone live with a new core banking platform, Profits, supplied by Intrasoft International.
Artificial intelligence (AI) interfaces and chatbots could be revolutionary for financial institutions – but only if they strike the right balance between human and machine interaction.
Banking Technology explores a less known – but a noteworthy – destination for fintech in Europe, Lithuania, and its capital Vilnius. Whilst it is realistic that it cannot compete with the European Goliaths such as London or Paris, it wants to carve its own niche in the fintech space, and has quite a lot to offer.
State Bank of India (SBI) is working on its own digital bank – SBI Digi Bank – which it plans to launch in the next three to six months.
Strategic, credit, operational and compliance risks remain “top concerns” for the financial services industry in the US, according to the latest report by the Office of the Comptroller of the Currency (OCC).
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! The first weekly news round-up of 2017. Happy 2017! Let it be a year of discovery and success.
Idea Bank in Poland has launched “the world’s first pay-as-you-drive” car loan model – Happy Miles – with the payments calculated according to the travelled distance. A GPS device installed in the vehicle automatically sends the information about the distance covered to the lender.
For some people in the world of fintech, they find comfort in the language of jargon. Pity these poor souls! Lost, confused and unable to communicate clearly and normally. Here are our top five jargon winners of 2016. You can avoid being on this list next year – just use English! CIBC ends phase one […]
Infosys’ flagship core banking offering, Finacle, is live at Sunrise Bank in Nepal. Finacle ousted Temenos’ T24 core banking system (installed at the bank six or so years ago).
Look back at some of the top-read feature articles on all matters fintech published by Banking Technology in 2016.
Establishing if someone is who they say they are in today’s virtual world is a major headache for banks and fintechs, thanks to the strict regulations they operate under and the difficulty in providing non-physical, verifiable forms of identity.
Monese, a mobile-only bank founded by Norris Koppel, an Estonian expat in London, has raised $10 million in Series A funding round as it looks to go pan-European.
ICICI Bank goes for Twitter, while HDFC Bank banks on Facebook Messenger.
Bank Clearly, a new digital banking service, is being set up in the UAE. Clearly will offer account opening “in seconds, completely online”.
A Ukrainian fintech start-up, Attic Lab, has signed a deal with a local bank, Alpari Bank, to implement blockchain-based banking system SmartMoney.
Westpac has embarked on a major project to roll out a new data integration solution – Oracle Customer Hub – bank-wide. It is understood that SAP was Oracle’s main contender for the deal.
Look back at some of the major payments projects in 2016, with Banking Technology’s top ten.
Corelation, a California-based core banking software vendor, has recently signed new takers for its flagship platform, Keystone. These are FivePoint Credit Union in Texas, Coca-Cola Credit Union in Georgia, and CommunityWide Federal Credit Union in Indiana.
Managing incentive compensation can be a challenge. Typical management systems are done manually – taking too much time and effort. They also fail to provide precise tracking for compensation-related regulations. This e-magazine introduces IBM Incentive Compensation Management, a unified solution that integrates data, calculations, workflow management and reporting. The solution automates complex tasks – reducing […]
Look back at some of the major digital bank initiatives across the globe in 2016, with Banking Technology’s top ten.
A UK-based challenger bank, Tandem, will start offering financial solutions to customers of retailer House of Fraser in 2017. As part of the collaboration agreement between the two companies, House of Fraser will invest up to £35 million in Tandem.
Look back at some of the most interesting and thought-provoking opinion pieces on all matters fintech published by Banking Technology in 2016.
It felt like there was a blockchain story every day in 2016, but we look back at some of the bigger stories with Banking Technology’s top ten! Microsoft and AMIS launch Asia’s first blockchain consortium Microsoft says it is also in “collaboration” with banks such as Ubon Financial, Cathay Financial Holdings and MegaBank to further […]
Look back at some of the major fintech events in 2016, with Banking Technology’s top ten! Sibos 2016: markets still in “Dante’s circles of hell” It’s the big one. And this is just one snippet from our extensive coverage of Sibos in Geneva. We also produced videos, published Daily News at Sibos, had fun with […]
A very Merry Christmas and Happy New Year from everyone at Banking Technology! May your 2017 be peaceful, fruitful, positive and kind.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! The last weekly news round-up of 2016. Happy holidays from everyone at Banking Technology!
Look back at some of the major digital channels projects in 2016, with Banking Technology’s top ten.
