Autosoft Dynamics ousts rival Path Solutions at ex-Burj Bank in Pakistan
Al Baraka Bank in Pakistan is migrating the acquired fellow Islamic bank, Burj Bank, onto the Autobanker core banking system from Autosoft Dynamics.
Al Baraka Bank in Pakistan is migrating the acquired fellow Islamic bank, Burj Bank, onto the Autobanker core banking system from Autosoft Dynamics.
Ontario-based Alterna Bank says it has launched “Canada’s first and only end-to-end digital mortgage”.
The top Democrat on the US House Financial Services Committee wants to interview executives from Wells Fargo over a scandal about fake accounts its employees set up for customers.
Are you young, sexy, and adventurous? No, me neither. It’s OK. Grab a hot chocolate, put your slippers and glasses on… and read on. Guess Watches has released watches (well, yeah) powered by Android Wear, Google’s smartwatch platform, to their Guess Connect wearable tech timepiece category, available late 2017. The global fashion powerhouse says, with […]
CapEd Credit Union in Idaho, and two Californian credit unions, Pacific Marine and Camino Federal, have converted to new core processing software, Keystone, supplied by Corelation.
IBM has unveiled its new release of IBM Blockchain, the “first” enterprise-ready blockchain service based on the Linux Foundation’s Hyperledger Fabric version 1.0. The service enables developers to build and host production blockchain networks on the IBM Cloud, and is underpinned by the IBM server LinuxONE. This development follows on from late last year when […]
London-based fintech start-up Babb App says it is creating a bank based on a “permissioned” blockchain implementation of a distributed ledger using Ethereum smart contracts. The Babb banking platform will operate a decentralised information model to “minimise costs while maximising data fidelity and security” – i.e. the usual suspects. It expects to do a soft […]
Money transfer giant MoneyGram can give further consideration to Euronet’s surprise bid to acquire the company from under the nose of Ant Financial, which in January entered a definitive agreement to buy MoneyGram.
The top Democrat on the U.S. House Financial Services Committee wants to interview executives from Wells Fargo over a scandal about fake accounts its employees set up for customers. Last year, the CFPB announced a $100 million fine against Wells Fargo for what the agency called “widespread unlawful sales practices.” The agency said the fine was the largest such penalty it has ever issued.
The Bank of England’s (BoE) fintech accelerator has teamed with Ripple for a cross-border payments proof of concept (PoC). As Banking Technology reported last year, the accelerator was set up to harness innovation for central banking. In this latest development, the PoC with Ripple is intended to demonstrate the synchronised movement of two different currencies […]
UK-based challenger Jargon Bank has taken the fintech world to new levels of rapture with the move of its London office 100 metres down the road. As Banking Technology reported last year, the “game changer” bank launched offering “compelling and innovative” products, which raised more questions than answers. This was followed in February with an […]
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, Banking Technology deputy editor Antony Peyton doesn’t offer up one view, but the views of many. While Twitter in general may often […]
UK challenger bank Tandem is not to receive any further investment from retail chain House of Fraser. House of Fraser invested £6 million in December, as part of a planned £35 million injection.
TSB Bank in New Zealand is rolling out a new lending solution from Australia-based fintech start-up Cloudcase.
IBM has unveiled its IBM Cloud for Financial Services for creating finserv apps. Users will get access to APIs, data and content to build and monetise cognitive-enabled apps for fintech firms, banks, wealth management firms and insurance companies. Initially available in beta, developers will also have the ability to build in customer insights, regulatory compliance […]
Australia-based BT Financial Group, a wealth management subsidiary of Westpac, has added new functionality – superannuation administration – to its core banking platform, supplied by Avaloq.
Cognizant, a global provider of digital, technology, consulting and operations services, is to get rid of up to 4% of its workforce, it is understood. It is also keen on increasing automation, investment in digital and M&A.
This nifty infographics, created by the European Payments Council (EPC), explains all you need to know about PSD2, from what it will change and its key components (such as APIs) to who the new players are.
QNB Finansbank, QNB Group’s subsidiary in Turkey, has developed TouchFinans, a core banking application for the bank’s SME division to carry on their Windows tablets.
Wanda Internet Technology and IBM have signed an agreement for the former to enter the public cloud business in China. This will be done via a new firm – Wanda Cloud Company – built on the IBM Cloud Platform.
Oracle has had another positive quarter as it navigates the complicated waters of business transformation, but it’s still a long way from kicking Infrastructure-as-a-Service (IaaS).
Yes Fintech, the accelerator programme of India’s Yes Bank, has unveiled its 12 finalists.
SIX Securities Services, Switzerland’s post-trade market infrastructure says it has developed – “and intends to deploy” – a new bond issuing solution based on the distributed ledger technology (DLT).
Poland’s Alior Bank has unveiled its growth ambitions and number of branch closures over the next three years with its “Digital disruptor” strategy. In its 65-page report, the bank does the usual trick of praising itself and its disruptive qualities, calling itself the “largest ever start-up” in Central and Eastern Europe in the financial services […]
It’s a digital double as Warba Bank has launched the “first” e-signature function and online account opening in Kuwait. Called “Express Finance”, the e-signature is the result of an agreement between Warba and Kuwait’s Public Authority for Civil Information. It allows users to authorise the bank to view their information on the credit network (Ci-net) […]
McDonald’s has made its first step towards the internet of things (IoT) with the introduction of a mobile ordering app as a means of streamlining the in-store customer experience. Banking Technology‘s sister publication telecoms.com reports that using apps to deliver services in this segment is hardly a new idea, though experiences to date have been […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Inter-American Development Bank (IDB) and Florida-based fintech firm Above & Beyond (A&B) have unveiled “Finconecta”, a ten-month programme which integrates fintechs and financial institutions (FI) in an interconnected ecosystem. The technology platform behind it is called “Forward”, which was built by A&B, and is described as an app store-styled marketplace that allows firms to expose […]
The Office of the Comptroller of the Currency is moving forward with its plan to enable fintech companies to become special purpose national banks (SPNBs), releasing a licensing manual draft supplement which provides guidance on how the OCC “will apply the licensing standards and requirements in its existing regulations and policies to fintech companies applying for [SPNB] charters“ and another document that summarizes public comments about the plan to allow SPNBs for fintech companies. The special purpose charter has no shortage of critics, but perhaps the most vocal—New York State—has turned up the dial on its opposition.
The UK’s Financial Conduct Authority (FCA) has set out its plan for improved banking standards and financial services with its new “Senior Managers and Certification Regime”. In a speech “Culture in financial institutions: it’s everywhere and nowhere” delivered today (16 March) by Andrew Bailey, FCA chief executive, to the Hong Kong Monetary Authority (HKMA) Annual […]
Cross-border payments specialist Flywire is expanding beyond tuition and health care payments to offer B2B payments in several new segments, including travel, luxury goods, publishing, import/export, business/professional services and technology. Flywire already has several deployments of its new services underway, the company tells Paybefore.
As India’s war on cash wages on, mobile wallets continue to reap the rewards. Although some experts suggested the advent of the Reserve Bank of India’s Unified Payment Interface platform could make mobile wallets obsolete, a new plan for interoperability could be a boon for Paytm, MobiKwik, Freecharge and other mobile wallet providers.
Retail transactions promise to become more vocal and mobile in 2017, according to a new U.K. survey report. Even so, the mainstreaming of chat bots and other new tools appears a while off, given the relatively low level of awareness enjoyed by those innovative technologies.
Berlin-based mobile bank N26 says its user base grew to more than 300,000 over the last year, tripling in size since the last announcement of 100,000 users in January 2016. As Banking Technology reported late last year, N26 took its business fully across 17 European countries, including Spain, Italy, Greece, Ireland and Slovakia. Before that […]
Poland-based mBank will set up the “first” fund in Central and Eastern Europe that will specialise in developing and selling new technologies. The Polish bank says it has an ambition to influence digital transformation in the banking sector and its mAccelerator project will provide €50 million in investment to start-ups. mBank CEO Cezary Stypułkowski says […]
Bangkok Bank has launched its fintech accelerator programme, Bangkok Bank InnoHub, in partnership with venture capital firm Nest. The 12-week programme will take place in the bank’s home market and will cater for eight early-stage companies. Nest has run similar programmes with corporates in Hong Kong, Singapore and Nairobi in Kenya. Bangkok Bank president Chartsiri […]
An Australian start-up has been revealed as the key technology partner of Visa’s new contactless payment sunglasses which were launched at the South by Southwest (SXSW) Festival. Visa unveiled the WaveShades sunglasses at the festival in Austin, Texas. Behind the scenes, the bright idea came from FinTech Australia member Inamo who came up with the […]
UK challenger bank Starling has unveiled its mobile app and is welcoming the first customers through its digital doors to join a beta testing programme. As Banking Technology previously reported, the bank has been getting ready for this moment. Yesterday (15 March), it chose TransferWise to provide money transfer services to its customers. It will […]
BBVA has launched the ninth edition of its “Open Talent” fintech competition – and is looking for start-ups from across the globe. The Spanish bank says this year its programme has grown from one competition to five. It will be hosting three focused world-wide competitions, more than a dozen country-specific opportunities, two specialist challenges for […]
Israel’s insurtech provider Atidot has launched the “first” Software-as-a-Service (SaaS) based predictive analytics platform for the life insurance sector. The firm says its big data modelling and decision making tools will “accelerate the pace” at which life insurance executives can use intelligence in their decision making. Existing company data is loaded to the proprietary Atidot […]