C Hoare & Co, Britain’s oldest bank (and the fourth oldest in the world), is modernising its front-end operations with Backbase, a specialist provider of omnichannel banking software. London-based C Hoare was founded in 1672 by Sir Richard Hoare and remains family-owned and run today. It focuses on private banking and investment management. It employs around […]
KBZ Stirling Coleman (KBZSC) and AYA Trust go live with TCS Bancs, and Bank for Investment and Development of Vietnam (BIDV) looks for a hardware provider for its new subsidiary in Myanmar. KBZSC and AYA Trust TCS Financial Solutions has completed the deployment of its TCS Bancs system to support securities trading and settlement at […]
The acquisition of the card manager and processor comes after Emerchants bought Store Financial Services UK. 2016 Pay Awards winner Emerchants reportedly is raising $35 million for the new deal.
The fight against tax refund fraud was part of the discussion at the recently concluded NBPCA Power of Prepaid conference, where the IRS commissioner talked about the public-private partnership designed to boost security.
The Federal Trade Commission is investigating Venmo, the popular P2P payment app owned by PayPal Inc. In its quarterly earnings report, PayPal said it received a Civil Investigative Demand from the FTC on March 28, as part of an investigation into whether PayPal through its Venmo service is “engaged in deceptive or unfair practices,” according to the filing.
The money will go toward new hires and global expansion, with Remitly now offering its services in Canada.
Italian banking heavyweight, UniCredit, is working on standardising its global transaction business (GTB) on one platform, underpinned by D+H’s Global PayPlus (GPP) system. GPP is supplied by D+H’s Global Transaction Banking Solution (GTBS) unit, formerly known as Fundtech. UniCredit’s GTB business covers 17 countries – the bank has accrued it via an aggressive M&A strategy […]
Deutsche Börse has opened its fintech hub in Frankfurt to promote Germany’s start-up and investment culture. This launch is part of the Hessian State Government’s fintech initiative, and Carsten Kengeter, CEO of Deutsche Börse, first presented the details and facilities back in February. Kengeter says Deutsche Börse wants to give start-ups in the financial sector […]
IBM has launched a new framework for “securely” operating blockchain networks, as well as new services on the IBM Cloud that are designed to meet existing regulatory and security requirements. Working with teams of security experts, cryptographers, hardware experts and researchers, IBM says it has created new cloud services for “tamper-resistant, trusted” blockchain networks. Jerry […]
Tech consultancy firm Capgemini has launched its Intelligent Test Automation Platform for financial services, promising quality assurance savings of up to 30%. The platform uses frameworks and robotic agents, and Capgemini says it speeds up the release of new products and services by providing “much shorter test cycles and better collaboration between development and test […]
Swiss software start-up LzLabs is collaborating with Cobol-IT to deliver the world’s “first” software-defined mainframe, designed to move legacy mainframe applications and data to open Linux server and cloud platforms. Cobol-IT will act as an integrated software provider for the solution as it is implemented for LzLabs’ customers across the world. Announced at CeBIT 2016, […]
Banking software vendor Avaloq has reported a “record” financial year in 2015 with a turnover of almost CHF 500 million ($518 million). The Swiss vendor says it has won 11 new customers, and is now working with 450 banks and wealth managers worldwide. New customers include China CITIC Bank International; Crestone, the former wealth management […]
Royal Bank of Scotland (RBS) is likely to miss the set deadline to spin off its Williams & Glyn’s (W&G) subsidiary – and the technology issues are to blame. W&G has been dormant for a few decades (RBS absorbed it in the mid-1980s). It was originally set to be revived and re-launched in 2015 by […]
International Private Banking Systems (IPBS), a Caribbean software vendor focused on wealth management and private banking sectors, has joined forces with eShore, an IT services provider to offshore international banks and FIs. According to the agreement, Cayman Islands-based eShore will be marketing and selling IPBS’s flagship core banking system, also dubbed IPBS, across a number […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Bank of Ireland ponders major IT overhaul Irish eyes are smiling… or at least weighing up their options. MSB and FDH Bank to merge on Temenos’ T24 core system The die has been cast. Neptune’s Rubikon crossed out. […]
FICO, an analytics and decision management software provider, and tech consultancy firm Capgemini have teamed up to provide analytic solutions in financial services. The alliance will provide FICO’s risk and fraud management products through Capgemini’s consulting and integration services in North America. Anirban Bose, global head of banking and financial services, Capgemini, says “many of […]
The new framework – available worldwide – is set to open up access to real-time payments for banks. UK-based Icon Solutions, an IT payment consultancy and specialist technology provider, describes its Instant Payments Framework (IPF) as “an agile yet robust software product that expedites financial institutions’ transition to instant payments”. The vendor emphasises that “IPF […]
Japan Exchange Group (JPX), a financial services corporation, has selected Cinnober for risk monitoring. This will include the entire Japanese market of equities, bonds, futures, options, credit default swap (CDS) and interest rate swap (IRS). This latest deal follows JPX recently building a real-time clearing solution for its listed derivatives market with the help of […]
At the opening day of Power of Prepaid in Washington, D.C., the NBPCA recognized Marilyn Bochicchio as the second recipient of the annual Terrence P. Maher Prepaid Influencer Award. The former Paybefore CEO is an industry veteran and a founding member of the NBPCA.
Payments M&A activity is continuing apace. Online lending company Affirm wants to use the Sweep finance app to expand beyond the point of sale, while Europe-based Payleven and SumUP combine mPOS forces. Meanwhile, Global’s acquisition of Heartland opens up verticals for the merchant acquirer processing firm.
Chinese smartphone maker Xiaomi is planning to launch an NFC mobile payments service in the country, leveraging its position as China’s largest phone manufacturer to compete in an increasingly crowded mobile payments market.
Tradition, the interdealer brooking arm of Compagnie Financière Tradition, is poised to launch a new EU-regulated multilateral trading facility (MTF) for collateral and secured deposits. Dubbed Elixium, it will open for business in May this year. “Elixium has been developed to address the growing need for a transparent, open to all, peer-to-peer, regulated marketplace,” says Tradition. […]
When more than 3,700 people gather in one place to talk about payments, you never know what you’re going to get. But the inaugural Money20/20 Europe conference in Copenhagen earlier this month left me with one major theme—partnership.
Jennifer Shasky Calvery will leave her position as director of the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) at the end of May.
The Federal Reserve Board has appointed Matthew Eichner to serve as director of its Division of Reserve Bank Operations and Payment Systems, effective May 1.
Donna Embry, chief payments adviser at Payment Alliance International (PAI), has been honored as the winner of the 2016 Distinguished Payments Professional Award from the Electronic Transactions Association (ETA).
Payments processor TMG has named Ron Metschke to the newly created role of senior vice president, channel development
Financial Technology (FT) Partners has hired Phil Olson as a managing director in the company’s new Chicago office.
Credit union service organization PSCU has re-elected four current members of its board of directors to new three-year terms.
A new mobile banking service in Denmark, Lunar Way, is gearing up for launch as it has secured a local partner, Københavns Andelskasse (Copenhagen Cooperative Bank). Lunar Way is itself not a bank, but is a provider of digital financial services, similar to Simple or Moven. Its model is to partner with established banks (that have […]
Swiss banking technology vendor NetGuardians has signed Swissquote Bank for its RiskGuardian solution. It will ensure data confidentiality compliance. RiskGuardian includes the NGScreener enterprise software platform along with predefined controls for specific regulations, such as the FINMA 2008/21 Appendix III regulation related to client confidentiality. Like with many of NetGuardians’ clients, Swissquote is a Tememos’ […]
Russia-based Sberbank has implemented Wolters Kluwer’s risk management solution, OneSumX, to streamline its treasury operations. OneSumX will enable the bank to perform dynamic simulation, market risk analysis and liquidity risk analysis, says the vendor. There was an extensive system selection, says Wolters Kluwer, with around 30 providers on the long list. Andrey Prudnikov, treasury director […]
Hargreaves Lansdown, a financial service company based in Bristol, UK, has gone live with Calastone’s funds settlement system, Calastone Settlements. Danny Cox, head of communications at Hargreaves Lansdown comments that “automatic matching of trades and the netting of settlement positions early in the day will improve the efficiency of our operational and treasury teams”. He […]
Broadridge Financial Solutions has launched a new solutions partner programme to enable consulting, technology and servicing firms to offer technology solutions. Partner firms will get access to solutions across wealth management, asset management, capital markets and corporate issuer segments; and a set of sales enablement resources, technical training services and a financial benefits package. Ira […]
The Canadian Payments Association (CPA) has adopted ISO 20022, as it looks to modernise Canada’s payment system. Gerry Gaetz, president and CEO of the CPA, says ISO 20022 will “enable the Canadian financial community to provide better service, both domestically and across borders, to their customers”. The CPA says recent research indicates that cost savings […]
Paybefore talked with Shoptalk speakers to get a preview of the hot topics for next month’s inaugural retail-focused show from the creators of Money20/20.
A survey from the Prepaid International Forum finds that nearly half of young consumers already make payments via mobile phones. Checking balances and not having to carry wallets or purses are among the main reasons for mobile’s growing popularity.
In the midst of regulatory pressure and an expected CFPB proposed rulemaking on small-dollar loans, QCash signs a Texas credit union to offer members what the company calls a less costly short-term lending product.
The CFPB’s latest monthly consumer complaint snapshot showed a slight increase in prepaid-related consumer complaints in March, but prepaid remains the subject of just a fraction of overall complaints received by the agency.
EdgeVerve Systems, a product subsidiary of Infosys, has launched a blockchain framework targeted at the financial services sector. Called EdgeVerve Blockchain Framework, it is a permissioned ledger that allows banks to deploy blockchain-based services for “varied” business areas. EdgeVerve says it can “scale to the levels needed to support international, cross-border transactional business”; and therefore […]
