Case study: Credit Suisse and SmartStream – fees and expense management
How a vendor’s acquisition of a big bank’s platform has led to the development of a utility. Credit Suisse talks about its fees and expense management transformation journey.
Banking
Top fintech stories this week – 17 March 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
White paper: accelerating digital wealth management
Private banking and wealth management transformation programmes don’t need to be too risky, lengthy or costly!
Looks like cyber criminals are pretty smart after all
New research from Gartner has shown enterprise organisations are beginning to accept that they are not as smart as cyber criminals, and investments over the course of 2017 will reflect this.
Bank Yahav live with TCS Bancs core banking platform: “the world’s most complex IT project”
Israel-based Bank Yahav has gone live with a new core banking platform, Bancs, supplied by TCS Financial Solutions. The “pure Java-based” solution is provided on a hosted basis.
White paper: break filter bubbles in banking enterprise fraud management
Synthesise holistic wisdom from core systems and not just from channel silos. From depth of analysis, ease of configuration/implementation and cross-channel fraud detection to insider fraud detection and real-time high availability, a synchronised enterprise fraud risk management approach delivers five compelling advantages over a delivery channel silos only approach.
Alexander Graham Bell’s influence on tech innovations in today’s financial services
“Mr. Watson, come here, I want to see you.” These were the first words ever spoken over a telephone line and said by the man fondly described as the father of the telephone, Alexander Graham Bell, who would have turned 170 on 3 March this year.
DH Corporation to be bought by Vista Equity Partners and merged with Misys
Canada’s banking software firm DH Corporation (D+H) is to be acquired by Vista Equity Partners and merged with Misys. The deal is reported to be worth CA$ 2.5 billion ($1.9 billion).
The Monday mindset: 13 March 2017
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 we welcome the views of our editor, Tanya Andreasyan, as she gives us the lowdown on going digital.
Blockchain offers banks potential, but HFT provides benefits now
I’ve been a technology nerd since before it was cool. In fact, when I went to college in the mid-1970s engineering students were treated more like George McFly than Mark Zuckerberg. It wasn’t the most glamorous major to talk about. Not much has changed today when I tell people I lead an advocacy organisation in support of high frequency trading (HFT), a technology that lowers trading costs for banks, asset managers and pretty much all investors. I find the work exciting, but I do run into my share of Biff Tannens.
Top fintech stories this week – 10 March 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Zenith Bank overhauls core banking tech with Misys Fusionbanking
Nigeria-based Zenith Bank is standardising its core banking software group-wide on Misys’ Fusionbanking Essence platform.
Fintech acquisition round-up: 9 March 2017
Who’s buying who? Featuring Broadridge, Message Automation, Numerix and TFG Financial Systems.
Misys goes gaming for banking tech
Misys is introducing gamification capabilities into its FusionBanking Essence Digital platform with Moroku’s GameSystem (also known as Gameo).
FirstOntario Credit Union swaps Fiserv’s Signature for Temenos’ T24 core banking system
Canada-based FirstOntario Credit Union has moved from its legacy Fiserv’s Signature core platform to Temenos’ T24. Validata, a specialist in enterprise software testing and release automation, assisted with the conversion process.
Will 2017 be the year financial services improve their UX?
2016 has been a big year for user experience (UX). The web, as a whole, became easier to use, apps became more intuitive, and services became a lot more engaging and purposeful. But could the same be said for financial services? Perhaps…
Emerging payments hot topic on social media, Mastercard study finds
Consumers are expressing interest in and enthusiasm for emerging payment methods in their social media conversations, according to a new Mastercard report. Paybefore (Banking Technology‘s sister publication) reports that Mastercard’s fifth annual Digital Payments Study analysed more than 3.5 million public interactions in 2016 between consumers on social media channels – including Facebook, Instagram and Twitter […]
The National Bank in Palestine live with Temenos T24 core banking system
Palestine-based The National Bank (TNB) has gone live with Temenos’ T24 core banking platform. The project has been underway since 2014.
Monzo, Revolut, Loot, U Account and other fintechs let down by payments processor
Payment outages have caused major problems to cardholders and fintech services provides in the UK and internationally. This is understood to be down to payments processor Global Processing Services (GPS).
Hellenic Bank to launch open APIs
Cyprus-based Hellenic Bank is readying the first project by its recently unveiled innovation lab – open application programming interfaces (APIs).
The big fight brewing over strong customer authentication
Late last year, Visa fired a volley – unlikely to be the last – over new rules that it and all providers of online transactions will soon need to follow as part of the EU’s revised Payment Services Directive (PSD2). It has some doom-laden predictions.
Banks not fine with $321bn paid in fines
Banks are stumbling along amidst the cumulative financial penalties of $321 billion handed out to them since the financial crisis. In a new report by the Boston Consulting Group (BCG) – “Global Risk 2017: Staying the Course in Banking” – it says “prudent operations will be required to avoid the errors of the past” and […]
Scotiabank completes blockchain trial with Alphapoint
Alphapoint, a San Francisco-based financial services infrastructure firm, has completed a blockchain proof-of-technology trial for Scotiabank, leveraging its Alphapoint Distributed Ledger Platform.
Top fintech stories this week – 3 March 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Race to patent Bitcoin tech heats up
The man who claimed to be Satoshi Nakamoto, the creator of Bitcoin, is now working on filing patents for the currency, according to Reuters. In a lengthy investigative report, Reuters says Craig Wright is “working with a fugitive online gambling entrepreneur to file scores of patents relating to the digital currency and its underlying technology, […]
Culture in investment banks is a ticking time bomb for employers
Recently I have been recruiting for a senior analyst position. We have reviewed over 40 CVs for a senior analyst position, and only two have been from women.
Ex-R3 members behind new blockchain alliance
Banco Santander, BNY Mellon, Intel, JP Morgan and Microsoft are some of the big names behind the launch of a new blockchain alliance. Called the Enterprise Ethereum Alliance (EEA), it plans to drive Ethereum blockchain technology best practices – “focusing on security, privacy, scalability and interoperability”. This development creates another rival for the R3 blockchain […]
Survey smiles on worldwide payment schemes
Developing new services, adopting the latest technologies and collaboration are the top priorities among payment schemes worldwide, according to a new study.
Société Générale extends partnership with Lombard Risk to global markets
UK-based regtech and risk management vendor Lombard Risk has extended its “global strategic partnership” with Société Générale. The bank will roll out Lombard Risk’s collateral management system, Colline.
Nordea releases new automated FX handling tool
Nordea Cash Management and Nordea Markets have launched AutoFX, an automated FX handling tool. Nordea says it is the first bank in the Nordics to offer this type of solution. AutoFX was developed in collaboration with a “large Nordic customer in the media industry”, in an effort to help modern treasury functions automate their daily […]
Baloise to invest $50m in insurance and risk management tech start-ups
Switzerland-based insurance provider Baloise Group has forged an investment partnership with Anthemis Group, a digital financial services investment and advisory firm. Together, they will curate European and American tech start-ups developing insurance (insurtech) and risk management solutions, with a mandate is to invest CHF 50 million ($50 million).
DTCC steps up DLT trial for repo transactions
The Depository Trust and Clearing Corporation (DTCC) announced that the proof-of-concept to improve the netting process for repo transactions using distributed ledger technology (DLT) has been successfully completed.
Bank for International Settlements issues analytical framework on DLT
The committee on payments and market infrastructures at the Bank for International Settlements (BIS), an international financial institution owned by central banks, has issued an analytical framework on distributed ledger technology (DLT) in payment, clearing and settlement.
First New Clearing Bank in 250 years Enters U.K. Market
There’s a newcomer on the U.K. challenger bank scene, but it’s not wooing consumers. As a bank for banks, other FIs and fintech companies, ClearBank will offer customers access to U.K. payment systems and core banking technology to support current account capabilities.
Mobile: the banking industry’s biggest ultimatum
An app is no longer a “nice to have”. As consumers expect businesses to engage with them at the right time, in the right manner, and over the right channel, a bank’s mobile app will be a crucial first point of contact for many customers. But it’s important to remember that an app by itself is not some wonder-cure that will instantly give a financial organisation perfectly satisfied customers.
Santander employs IBM for employee digital boost
IBM’s MobileFirst for iOS apps will be used by Santander as the bank looks to revamp its digital banking services and help its employees work better. The custom-built, native apps made for iOS will be rolled out across more than 11,000 iOS devices, and will be used by Santander’s commercial network employees, including those supporting […]
Infographics: the biggest bitcoin crashes in the last decade
Bitcoin underwent a lot of ups and downs in its brief history. This nifty infographics (courtesy of Investoo.com) offers a lowdown on major crashes during the early years of this digital currency experienced by Bitcoin traders.
Barclays’ banking takes weekend off
Customers at Barclays Bank suffered a worrying weekend due to problems with cash machines, debit cards and phone banking. At 2pm (UK time) on 25 February, Barclays become aware of the issues and advised customers to use other banks’ cash machines. The customers would probably have worked that out for themselves. Technical issues are affecting […]
ITSS delivers Temenos’ T24 core banking system to SAFA Bank
SAFA Bank, a new Islamic bank in Ramallah Palestine, has gone live on the Islamic version of Temenos’ T24 core banking system. The project was delivered by the vendor’s partner ITSS Global.
Cybersecurity: computers or humans – where does the threat lie?
Digitalisation plays a key role in the fight against payment fraud. Yet Commerzbank’s cybercrime specialists in cash services show that even in this technologically advanced environment, security threats persist. Companies must take steps to ensure that human beings – as well as computers – are protected against crime.
