Penta Bank is a new digital banking player in Germany working towards a spring 2017 launch. Penta’s initial target market will be German and French SMEs. “Our target businesses are funded start-ups and SMEs that are cashless,” says Luka Ivicev, Penta’s head of product. Penta has been in the making since February this year. Usability […]
ACI Worldwide is partnering with UK-based Raphaels Bank, opening up access to the Faster Payments Scheme in the UK for financial institutions (FIs), including challenger banks and payment service providers (PSPs). ACI says its relationship with the bank means FIs and PSPs can use ACI as a “technical aggregator” providing real-time access to Faster Payments […]
London Stock Exchange (LSE) and Boat Services have launched Tradecho, a combination of the two companies’ existing and “complimentary” trade reporting services. LSE says by early Q1 2017, Tradecho will provide a single trade reporting venue and “complement” its T+1 MiFID (Markets in Financial Instruments Directive) and EMIR (European Market Infrastructure Regulation) transaction reporting services, […]
Volante Technologies has launched a new solution – as part of its VolPay Foundation payments platform – for integration with Ripple’s distributed ledger technology. Volante’s software has been Ripple-ready since last autumn, says the vendor, and following “close engagement with Ripple” it has now brought to market an “integration solution wholly designed to simplify the […]
With two thirds of people now owning a smartphone in the UK, demand is high amongst consumers to have connectivity at their fingertips. Add to this the fact that 39% of adults have at least one banking-based app, and it presents a real opportunity for banks to serve engaging content to the many consumers who are […]
Nets and Istituto Centrale delle Banche Popolari Italiane (ICBPI) have joined forces to launch an instant payments solution in Italy. The new offering is set to go live in Q1 next year. It will be based on Nets’ RealTime24/7 platform and will serve the Italian payment service providers (PSPs). “We will provide to the Italian […]
Nymbus, a US-based core banking software vendor, has acquired fellow supplier R. C. Olmstead (RCO), to gain a foothold in the Midwest credit union market. RCO comes with 46 customers, all in the low-tier segment. These include Wilkes-Barre City Employees CU, Dover-Phila FCU, McDonald Community FCU, Toledo Metro FCU and Yorkville Community FCU. RCO has […]
National Australia Bank (NAB) and telco firm Telstra have partnered for an SME digital marketplace called Proquo. Proquo will offer more than two million Australian small businesses an online platform to network, trade or swap services with each other. Leigh O’Neill, NAB executive general manager micro and small business, says: “Small business is the backbone […]
The Banking Industry Architecture Network (BIAN), a not-for-profit fintech industry body, has added three new members to its global network. These are Misys, First Horizon and Al Rajhi Bank, the world’s largest Islamic bank. The total count of BIAN members now stands at 64, comprising banks, software and service providers, and academic partners. Hans Tesselaar, […]
National Australia Bank (NAB) and technology consulting firm Lab49 are piloting the starXchange trading platform. The e-trading platform has been released to the market and offers automation for pre-trade, execution and post-trade activity. Clients can trade through the platform itself or through major multi-bank platforms. NAB partnered with Lab49, a “specialist in capital markets technology”, […]
Nucleus Software has released its mobile loan self-sourcing solution – mApply – for the Australian market. The firm says mApply helps banks digitise their loan origination lifecycle. Customers and mortgage brokers can view pre-approved loan offers from a bank, select the best offer and submit a paperless loan application “within minutes” and “without any need […]
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
ING Belgium has acquired the rights to rebrand Finnish fintech start-up Zervant’s invoicing software across Europe. The software will be marketed as ING invoice solutions and will be sold via its own channels to SMEs and entrepreneurs. During the first phase, ING Belgium will have the rights to sell the tool in Belgium, with a […]
Microsoft is collaborating with Blockstack Labs and ConsenSys, and developers across the globe on an open source, self-sovereign, blockchain-based identity system. The announcement by Microsoft follows its participation at the United Nations’ ID2020 Summit on Identity. Yorke Rhodes, blockchain business strategist, Microsoft, says: “Without legal identification, children and people are invisible to society which makes […]
Intel has teamed with The Floor, a fintech hub located at the Tel Aviv Stock Exchange, to create its own fintech innovation centre in Israel. This is Intel’s first move into the fintech sector as it looks to capitalise on the demand for bitcoin and blockchain solutions in banking and finance. It may also be […]
Israel’s largest bank, Bank Hapoalim, is believed to be in system selection mode. The bank is looking for a new core banking system, Banking Technology understands. It is believed that Temenos with its T24 offering, SAP with SAP for Banking and TCS Financial Solution with Bancs are among the contenders. TCS has recently made inroads […]
CIMB Bank, in partnership with MasterCard, has launched its Corporate Card Solutions in Malaysia, a new addition to its suite of cash management products. The solutions include the corporate card and purchasing card which offer automated processes and real-time reporting; and a new virtual card solution for supply chain requirements. Tengku Dato’ Sri Zafrul Aziz, […]
Standard Chartered is bringing its mobile and online banking platform to eight countries in Africa. After the roll-out to Botswana, Ghana, Kenya, Nigeria, Tanzania, Uganda, Zambia and Zimbabwe in the first half of 2016, the bank will launch fingerprint recognition technology in these markets later in the year. Karen Fawcett, Standard Chartered’s CEO for retail […]
Central Bank of Somalia is embarking on a major tech overhaul, with sponsorship from the World Bank. The bank will implement a new core banking system, Temenos’ T24, and a new ERP system from Oracle FSS. Swiss IT consultancy firm Sofgen has been recruited to deliver the project. The first phase is estimated to cost […]
Ipreo, a fintech firm headquartered in New York, and Misys have signed an agreement to integrate Debtdomain and Misys FusionBanking LoanIQ for syndicated loan arrangers and agents. Mutual clients of Debtdomain and FusionBanking LoanIQ have previously integrated the products, but this deal will be the “first” that is jointly developed and supported by both Ipreo […]
UK start-up Ormsby Street has launched its credit-checking tool CreditHQ in Germany, as part of a new partnership with Deutsche Bank. CreditHQ allows a small business to check the financial health and credit status of any customer or partner and will be available to small business customers of Deutsche Bank. Its German launch is the […]
Wirecard Singapore, part of Wirecard Group, and NETS (Network for Electronic Transfers {Singapore}) have partnered to provide a single terminal payment solution for Singapore government agencies. The move will enable users to use their CEPAS (Contactless e-Purse Application) cards such as NETS FlashPay, EZ-Link and concession cards on one single device. Wirecard says CEPAS cards […]
A new stage of interactive banking is here. Santander recently announced a new app that will let consumers speak to their phone about their spending habits. Lloyds announced a video interview mortgage service, allowing customers to apply without setting foot in a branch. And HSBC released an app which replaces a pin number for voice biometrics. This […]
BBVA is partnering with Red Hat to speed up innovation and digital banking growth. The agreement, which turns Red Hat into a “priority partner” for BBVA, is part of a series of alliances that BBVA is aiming to forge. Earlier this year, it signed an alliance with Cisco, also allowing it to become a “priority” […]
Apple Pay support is expanding beyond American Express to Visa and MasterCard credit and debit cards from five of Singapore’s major banks. The big banks include POSB, DBS, OCBC, Standard Chartered and UOB. This latest deal is a significant development for Apple as it now has more than 80% of the Visa and MasterCard credit […]
Saxo Bank has formed a new white label partnership with Lufax, a Chinese internet finance company. The partnership, expected to launch within the next three months, will see Lufax use the trading technology SaxoTraderGO. The bank says SaxoTraderGO will provide Lufax’s clients access across the trade cycle – from pre-trade, execution and post-trade services for […]
Deloitte is pioneering an integration project combining Ripple’s protocol and Temenos’ core banking software for direct bank-to-bank settlements in real time. Deloitte says the overall objective of the Ripple integration is to enable financial institutions to send payments, either in local or foreign currency, in real time without relying on intermediary banking relationships. Ripple offers […]
Financial systems vendor Infosys has been awarded a five-year contract with Commerzbank to remodel its investment banking IT architecture. Along with the remodel, Infosys will improve IT processes and evaluate a potential post-trade processing utility. The later would then “focus on the clustering of trade processing platforms across various product types”. Stephan Müller, group CIO, […]
India-based provider of e-learning and change management software Gieom Business Solutions has become a Temenos certified fintech provider for “operational efficiency and regulatory compliance”. Gieom’s cloud-based platform will now be available on Temenos’ MarketPlace store that can be accessed by over 2,000 customers of Temenos and its subsidiaries. The announcement was made at Temenos’ annual […]
Temenos is going all out in its plans to grow its US market share with a top 25 bank expected to implement the T24 core banking system soon. About 1,200 delegates were at the Temenos Community Forum 2016, held at the Palau De Congressos, in Barcelona from 17-19 May. The event enabled vendors, potential vendors, […]
Vietnam’s mid-tier banking player, Vietnam Prosperity Bank (VPBank), has implemented a new digital solution, SAP’s Omnichannel Digital Platform. Omnichannel Digital Platform stems from the Sybase 360 product that came SAP’s way with the acquisition of Sybase in 2010. The new solution was deployed in one year at VPBank, with online and mobile components for retail […]
UK-based RISE Financial Technologies claims to be “the first technology firm to launch the second generation of blockchain for the post-trade sector”. The solution is now undergoing testing with a number f banks, custodians and CSDs. The results will be published in H2 2016. RISE develops multi-asset class, multi-currency distributed financial ledger technology for the […]
Bangkok Bank has launched new mobile banking functionality, based on Fiserv’s Mobiliti Edge mobile banking and payments platform. The bank’s mobile solution is known as Bualuang mBanking. It enables Bangkok Bank’s customers to access financial services via a mobile phone, tablet or the Apple Watch. Fiserv and Bangkok Bank have been working together for a […]
Unisys, Sandstone Technology and Payment Card Technologies (PCT) are bringing to market a new digital banking solution. The solution, called USP, will consist of the “best of breed” products from each vendor, all “seamlessly” integrated. USP is aimed at new market entrants and established players. The participating vendors describe it as “cost-effective”. It will support […]
Android Pay is now available in the UK, and more countries are on the way. Banking Technology first reported on this initiative in March this year. UK consumers can now pay for goods and services with their Android smartphones. Retailers like Boots, Waitrose and Starbucks are already onboard, and so is Transport for London (underground, […]
UK-based investment company Standard Life and ING’s Australian subsidiary are working with IBM on a range of digital and data management initiatives. Standard Life: it’s personal Standard Life is personalising its financial services capabilities “to each of its 3.8 million UK customers”, IBM states. Using IBM’s analytics tools Standard Life “can accurately track a person’s […]
Microfinance organisation Finca and credit scoring specialist First Access have unveiled “the world’s largest microfinance fintech collaboration”. The two companies say this partnership “will create the largest and most sophisticated alternative credit-scoring approach by a microfinance institution (MFI) in the world.” It will also vastly improve Finca’s outreach to excluded populations. First Access will analyse existing […]
Australia-based financial services group, MyState, is gearing up to launch a new digital banking system, provided by domestic vendor Rubik Financial. The new solution is set to go live in August and promises to transform MyState’s digital channels and customer experience, according to Rubik. It will provide “superior digital experience” to customers, the vendor says, […]
Following outages at some of the UK’s leading banks including Barclays and, most recently, HSBC which left customers unable to access funds for up to two days, means system failures are a hot topic. The amount and frequency of these damaging failures emphasises the growing issue of poor software quality management in the UK banking […]
The treasury function plays a pivotal role within a bank, and with great power comes great responsibility… and the need for automation. Misys and Banking Technology conducted a survey to find out about the changing role of the banks’ treasury and the degree of support received from current systems. How can technology help treasurers cope […]
