Misys scores another core banking system deal in Myanmar
Myanmar-based Ayeyarwady Bank (AYA Bank) has signed for Misys’ Fusionbanking Essence core banking platform.
News
Hong Kong launches IPO support system for start-ups
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 […]
Top fintech stories this week – 2 June 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Sweden’s SEB selects CGI for trade transaction action
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 signs for iFinancial BankWare core system
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 […]
InvestCloud wins deal with South African wealth manager
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 to debut robo-advice investment service
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 buys consulting firm Market Gravity
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 […]
Flywire acquires UK-based PACE Invoice
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 […]
Afghanistan’s First Microfinance Bank selects Accuity for regulatory compliance
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 powers Japan’s blockchain derivatives prototype
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 […]
Android Pay arrives in Taiwan
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 […]
Letter from the Editor: Prepping for the Year’s Biggest Industry Event
I can scarcely believe we’re approaching the halfway point of 2017. But I can’t think of a better time for the year’s biggest prepaid industry event. On June 21-23, the NBPCA will host its sixth annual Power of Prepaid conference in Washington, D.C. The business of compliance—not to mention keeping up with technology trends—is keeping everyone on their toes, but it’s vital to stop and reflect with colleagues about the state of the industry and its future. It’s also critical to actually talk to those shaping the legislation and regulations that determine the rules of the road.
ING’s Yolt money app beta launches in UK
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 […]
Banking Technology June 2017 issue out now
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
People on the Move: A.J. Koehn, Urban FT
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 and ING lead charge for Dutch ATM survival
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 […]
BofA Simplifies Money Management for Customers Using Third-Party Apps
Bank of America is testing a service enabling its customers who use third-party data aggregators to view their financial information in one place. BofA is testing the capability with two financial data aggregators to enable customers to securely connect data from their bank accounts to third-party money management apps.
Cisco and IBM team up to tackle cybercrime
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 […]
Visa Bolsters Transaction Security
Visa is beefing up its Verified by Visa authentication service. The payments network said it’s upgrading its back-end to support 3-D Secure 2.0. The 3-D Secure messaging protocol was invented by the network more than 15 years ago and has become an industry standard for online authentication.
Square Launches Virtual Terminal Service in U.K.
About two months after launching in the U.K., Square has introduced its Virtual Terminal service there. The technology enables merchants to accept payments through the Square dashboard, an appealing prospect for online service providers, contractors and other smaller firms that do relatively few face-to-face transactions.
Spain seeks fintech stardom with Red Lyra blockchain network
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 […]
People on the Move: Tommaso Zanobini, Deutsche Bank
Deutsche Bank has named Tommaso Zanobini global head of financial technology.
Sweden’s central bank goes live on Intellect Quantum system
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 […]
People on the Move: Bryan Lewis and Edward Chandler, eNett International
eNett International, a Singapore-based provider of B2B travel payment solutions, has announced two new executive appointments.
People on the Move: Jeff Hibbard, Fidor
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.
People on the Move: Chris Shockley, PSCU Board
PSCU, a credit union service organization, has appointed Chris Shockley associate director to its board.
People on the Move: Ryan Farley, Judopay
Mobile payments platform provider Judopay has appointed Ryan Farley CEO.
People on the Move: Shafi Shaikh, Mastercard
Mastercard has appointed Shafi Shaikh executive vice president, customer delivery, Asia-Pacific. Shaikh oversees customer support, product delivery and customer relationships.
People on the move: Peter De Caluwe and Thierry Siminger, TransferTo
TransferTo, a global B2B cross-border payments network, has appointed two senior executive team members as part of the company’s plan to accelerate business growth.
People on the Move: Ron Kalifa, Worldpay
Worldpay vice chairman Ron Kalifa has ranked third out of 100 in the EMpower Ethnic Minority Leaders List, presented by The Financial Times
People on the Move: Manish Kohli, Citi
Citi has appointed Manish Kohli global head of the payments and receivables business.
Companies on the Move: International Regtech Association Forms
International Regtech Association, a global nonprofit association focusing on regulation technology has been formed, with more than 100 founding members.
People on the Move: Kevin Brown, Wirecard North America
Wirecard North America, a provider of global payment solutions, has appointed Kevin Brown to the Wirecard executive team in North America.
OCBC Bank unveils first standalone mobile payments app
Singapore’s OCBC Bank has launched its first standalone mobile app for QR code cashless payments at nearly 2,500 NETS terminals. The new OCBC Pay Anyone app brings together all its Pay Anyone services – peer-to-peer e-payments, QR code payments, and integration with Siri and iMessage – into one place. Pranav Seth, OCBC Bank’s head of […]
International Regtech Association launched
International Regtech Association (IRTA) is a new worldwide industry body with over 100 founding members.
NCR makes it nice and Eazy for Bahrain’s biometric payments
Bahrain-based Eazy Financial Services will launch the region’s “first” biometric payment network powered by NCR. Consumers will be able to register their fingerprint through any bank linked to Eazy’s network and then use that at any device (ATM or POS) to start a transaction rather than using a card. In the first phase, NCR will […]
Skills over degrees in IBM’s new cybersecurity initiative
IBM Security has launched fintech programmes and partnerships to overcome the projected 1.8 million-person cybersecurity worker shortage and boost its market share. As part of its initiative, IBM is sponsoring alternative education models such as Hacker Highschool and Pathways in Technology Early College High School (P-TECH). It is also looking to change traditional hiring models […]
Fintech funding round-up: 30 May 2017
It’s all go for money flow. Our latest fintech funding round-up, featuring NetGuardians, Banco BNI Europa, Raize and Wave. Swiss fraud prevention vendor NetGuardians has reported a Series C investment of CHF 8.5 million ($8.7 million). The investors in this round are Swisscom Ventures and Freemont Management. The financing will be used to fund NetGuardians’ […]
House Balks at Repealing Interchange Reform amid Dodd-Frank Overhaul
Retailers are claiming victory in the battle, if not the war, regarding proposed legislation that would have repealed interchange reform included in the Dodd-Frank Wall Street Reform and Consumer Protection Act. Full House set to vote on amended Financial CHOICE Act June 9.
