Read our first Daily News at Sibos edition of the Sibos 2017 conference in Toronto – all the latest news and analysis from Swift’s premier event of the year. Free to read online or pick up a complimentary print copy if you are at Sibos!
IBM, KlickEx Group, a regional financial services company, and Stellar, a non-profit organisation that supports an open source blockchain network, have unveiled a new regional cross-border payments solution using IBM’s blockchain technology to provide clearing and settlement of trades on a single network in real time.
Data aggregation and insights company Finicity has integrated with risk mitigation firm DataVerify to offer mortgage lenders real-time borrower asset verification.
Wave – a business financial management (BFM) solutions provider from Toronto – has signed a deal that will integrate its invoicing, accounting, and business financial insights technology into Royal Bank of Canada’s online banking platform.
One of the first rules of basic economics is that incentives matter. Blockchain solutions company Ripple must be privy to this rule as it has unveiled a new accelerator programme and marketing incentives to promote bank interest.
Ohio-based Sutton Bank says it has “married old-fashioned wisdom with cutting-edge fintech” for US businesses and their employees. The resulting product is particularly relevant in today’s “gig economy”.
How do you try and become one of the biggest and most influential technology companies in the world? Just move the $15 billion you have stashed away into the R&D business.
The CEO of Samsung Electronics – Oh-Hyun Kwon – has thrown in the towel, citing an “unprecedented crisis” at the company as his reason, reports Telecoms.com (Banking Technology’s sister publication). The specifics of that crisis were not revealed in “an emotional letter” (according to the Samsung press release) sent to all employees by Kwon, who […]
Nassau Educators Federal Credit Union (NEFCU), a 200,000-member institution in Long Island, US, has launched its Google Home Action and Google Assistant app. The solution is based on the Conversation.one platform.
The European Central Bank (ECB) has published a guide to assessments of fintech credit institution licence applications.
Microsoft and Amazon Web Services (AWS) have teamed up to launch an open-source, deep learning library called Gluon which will make machine learning (ML) more accessible to a wider range of developers, reports Telecoms.com (Banking Technology’s sister publication). That will be the key to winning the machine learning race. Not making the most complex and […]
With a large chunk of the global workforce migrating to foreign countries in search of lucrative career opportunities or better living, the World Bank estimates that migrants will send up to $636 billion home in 2017, with three-quarters of that being remitted to developing countries. In 2015, $440 billion in remittances was sent back to […]
The State Bank of Mauritius, SBM Group and SALT, creator of a blockchain-backed loan platform, have entered into an exploratory relationship to use blockchain assets as collateral for lending services. SALT, which stands for Secured Automated Lending Technology, says it offers risk mitigation software which allows financial entities, like SBM, to participate in this new […]
Financial institutions face unprecedented data management and compliance challenges as they continue to grapple with multiplying CRS and FATCA related global tax transparency regulations.
In a round led by Nyca, CommerzVentures, and CEFIF, augmented digital commerce platform Omnyway has raised $12.75 million in new funding, reports David Penn at Finovate (Banking Technology‘s sister company). The Series A will give Omnyway (formerly Omnypay) the ability to launch new services, expand operations, and add to its customer base both in the […]
Seattle-based consumer bill pay service Doxo now has more than 30,000 billers on its platform, allowing users the ability to pay even more companies from a single website, reports Julie Muhn at Finovate (Banking Technology’s sister company). This achievement also gives Doxo a new status – the company now has more billers on its platform […]
At the beginning of the year, SecureKey announced that it had won an $800,000 grant from the US Department of Homeland Security in support of the company’s development of a blockchain-based digital identity network. Today, the Ontario-based authentication specialist unveiled the latest institution to join that network: the National Bank of Canada, reports David Penn […]
Mongolia gets a mention in this concise fintech funding round-up. Features OakNorth Bank, AND Global and TransFICC. UK challenger OakNorth Bank has secured £154 million investment as it looks to lend a further £1.5 billion to businesses in the country in 2018, and then attempt to move on globally. The funding came from the Clermont […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Innovate Finance, a UK-based fintech membership association, is seeking start-ups for its latest Pitch360 competition.
US mobile chip giant Qualcomm has been the recipient of yet another fine for claimed anti-competitive business practices, reports Telecoms.com (Banking Technology‘s sister publication). This time it’s Taiwan, where its Fair Trade Commission (TFTC) has concluded that Qualcomm abused its dominant position in the mobile chip market for at least seven years by refusing to […]
New Jersey-based ConnectOne Bank has selected nCino’s Bank Operating System for account opening, lending and portfolio management. According to nCino, Bank Operating System gives ConnectOne a single cloud-based platform, built on Salesforce, that combines customer relationship management (CRM), loan origination, account opening, workflow, enterprise content management, business process management, digital engagement and instant reporting. Frank […]
Colorado-based P2Binvestor (P2Bi), a marketplace lending platform, has unveiled its bank partnership programme to let organisations access capital. Krista Morgan, CEO of P2Binvestor, says it’s “enabling banks to lend to businesses they otherwise wouldn’t be able to due to strict lending standards”. P2Bi’s strategy is to “build a lending relationship with banks at an earlier […]
Whether it’s prepaid card time or financial crime, the world of blockchain and Bitcoin is a lively one. This latest round-up features BitFlyer, Visa, Accuity, R3 and SIA. Tokyo-based Bitcoin exchange BitFlyer has unveiled a Visa prepaid card that can be charged with Bitcoin in yen and used throughout Japan. It can be charged via […]
Fintech start-ups are being invited to apply to Accenture’s sixth FinTech Innovation Lab London, a three-month programme offering mentoring and the chance to accelerate business development. Accenture says this year’s lab has introduced a new stream to help regtech start-ups, because banks are “being compelled to open up their customer data and ensure this data […]
Wunderbar! Deutsche Bank has completed internal proofs of concepts (PoCs) with IBM for the deployment of an artificial intelligence (AI) powered Watson cognitive system in the German language. The system will be used in the bank’s Artificial Intelligence Client Communication Centre (AI-C³), and Deutsche Bank says it will use Watson for the development of a […]
Eyes right. US start-up ShiftLeft has emerged from stealth and wants to shift enterprise cloud security strategy from reactive to preventative. Enterprise Cloud News (Banking Technology‘s sister publication) reports that ShiftLeft is an alternative to finding vulnerabilities and attacks as they crop up and defending against them. Instead, ShiftLeft’s service scans application and microservices source […]
It turns out, banks can gain a lot from business tools. That’s probably why business solutions company Vasco and financial services software company Finastra teamed up.
How do you try and become one of the biggest and most influential technology companies in the world? Just move the $15 billion you have stashed away into the R&D business.
Social trading company Ayondo has announced that, despite an earlier reverse takeover bid falling through, it is determined to become the first fintech company to IPO on the Singapore Stock Exchange (SGX).
Earthport, a cross-border payments service provider, has been appointed by Swiss Euro Clearing Bank (SECB), a clearing hub for Swiss banks, to provide Swift processing services.
Instant payments and real-time authentication checks are coming to business clients of Nordic software provider Emric – courtesy of a new partnership with Trustly.
Fintech firm Ovamba says it is working with Microsoft to create “the first African language driven chatbot designed to serve the millions of African SMEs who face exclusion from financial services due to the challenges of functional and business literacy”.
Salesforce is stepping up its internet of things (IoT) game, launching a low-code service to help enterprises get started using IoT to improve customer relationships.
Linux Foundation, along with its Hyperledger Project, are looking to increase the use of blockchain within the enterprise with the introduction of a training course and certification programme designed for those who want to use the technology.
Dell Technologies is looking to leverage the various parts of the company into a new internet of things (IoT) strategy that focuses on the edge of the network, hyperconverged infrastructure at the middle, cloud computing in the data centre, as well as the end points picking up all the data.
Deutsche Apotheker- und Ärztebank (apoBank) has selected the Avaloq Banking Suite as it looks to increase operational efficiency via a digital strategy. As reported last year, apoBank was considering the implementation of Avaloq’s flagship core banking system. The two parties signed a contract to “analyse and elaborate how far the execution of the apoBank IT […]
US-based tech company Avaya says it has helped O-Bank to become “Taiwan’s first, all-digital, online-only bank”.
NCR Corporation has signed a five-year deal with UK’s TSB Bank to look after the bank’s 900+ ATMs and IDMs as well as provide service desk support for its employees across its branch network.
“We’re opening up the Lemonade platform to the world!” says Shai Wininger, co-founder of Lemonade, a US-based insurtech firm.
