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Finastra heads to IBM cloud for digital banking
Fintech titan Finastra is turning to IBM to power its banking operations with cloud and cognitive technologies. As reported yesterday (14 June), Misys and DH Corporation (D+H) joined forces to create Finastra, the third largest financial services technology company in the world. With Finastra now officially alive and kicking, it’s wasted no time in showing […]
Avaloq Community Conference 2017: not trapped in a geography
Avaloq has hit back at Temenos’ claims that it is “trapped in a relatively small geography” by pointing to its revenue rise and innovation drive as reasons for something to be cheerful about.
Avaloq Community Conference 2017: embracing blockchain and Bitcoin innovation
Swiss core banking software vendor Avaloq is prepared to tap into the potential of blockchain and Bitcoin over the next 12 months as it seeks to experiment and innovate more in these areas.
Fiserv sets sights on mobile payments tech vendor Monitise
US tech giant Fiserv has offered to buy Monitise, a UK-based mobile payments software and solutions provider. The cash offer to acquire is at 2.90 pence per share – valuing Monitise at approximately £70 million.
White paper: choosing the right in-memory computing solution
As in-memory computing (IMC) gains momentum across a wide range of applications, from fintech and ecommerce to telecommunications and internet of things (IoT), many companies are looking to IMC solutions to help them process and analyse large amounts of data in real time.
Calastone completes first phase of blockchain project
Global funds transaction network Calastone says it has “successfully” completed the first phase of its blockchain distributed market infrastructure proof-of-concept (PoC).
Moroku’s Marrakash makes a splash with POS software deal
German payments company AEVI and Australian software firm Moroku have teamed up to offer POS software in AEVI’s B2B app store. Called Marrakash, Moroku’s software is for small retail and hospitality merchants that integrates their business, products, customers and payment systems into one platform. Moroku says it lets firms run their business “entirely from a […]
Build your own app with TCS Bancs kit
Tata Consultancy Services (TCS) has unveiled its Bancs app development kit (ADK) to let banks design and build their own apps. The firm says the ADK enables financial institutions to build their digital offerings without the need for mobile development skills. The ADK comes with its own array of widgets, controls and components; and the […]
Fintech funding round-up: 7 June 2017
Fintech funding can be an intense blur of money, jargon and unerringly similar expansion plans. Here’s a round-up that gets to the heart of the matter. Features Plynk, IHS Markit, Barclays, Goldman Sachs, HSBC, Morgan Stanley and Wahed. Ireland’s Plynk, a money messaging app, has revealed a Series A raise of €25 million. Led by […]
When large projects go bad: leadership, operational change and a dose of reality
Large-scale operational projects within asset management firms are notoriously ambitious, incredibly complex and extremely hard to deliver. Global system implementations are a common culprit, where often multiple applications (some legacy) are being replaced.
Local banking for global trading – an impossible goal?
Anders la Cour, CEO of ground-breaking payments utility Saxo Payments Banking Circle, which is underpinning the service propositions of a growing number of payments businesses, reports on the payment pain points currently faced by merchants who have ambitions to trade globally.
HSBC launches social network for business customers
HSBC Commercial Banking has launched its Connections Hub, a digital platform to connect buyers and sellers around the world. Businesses in Canada, China, Hong Kong, India, Mexico, Singapore, the UK and the US can sign up to the multi-lingual hub for free. The service will be available to customers in France in the coming weeks […]
New edtech project for financial services, CFTE, launches
The Centre for Finance, Technology and Entrepreneurship (CFTE), a new educational platform for the finance industry, has been unveiled. “In a tech world, we bet on people,” CFTE states.
Oracle taps into AI buzz to calm security fears
Oracle has announced a number of updates to its security portfolio focusing on leveraging the buzz surrounding machine learning, artificial intelligence (AI) and contextual awareness technologies.
The Monday mindset: 5 June 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 sum up the predictions made by Google’s illustrious chief futurist, Ray Kurzweil, on what awaits us this century. 2019 Farewell cables. […]
Infographics: how regtech savvy are you?
Banking Technology and BearingPoint conducted a survey to find out the industry view on regtech and its implications for all parties involved. The findings are now available in this nifty infographics.
Deriving value from big data
An explosive growth in data and information, coupled with advances in technology and a boost in methods of communication, have given rise to an empowered and aware global customer. And to provide legendary experience to their customers, maintain a competitive edge and to make better and sound decisions, organisations need to harness insights from this ever growing “big data”.
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 […]
Blockchain is here to stay, but what regulatory and legal hurdles does it now face?
DLA Piper’s John D. McGonagle speculates on what the rise of blockchain technology might mean for the future of banking, the feedback which the UK regulator FCA may receive from interested stakeholders, and some of the regulatory and legal hurdles which blockchain technology may need to negotiate in the near future.
Analysis: commercial cards, clear lines and communication
There is no question that the commercial card sector is growing strongly. According to Research and Markets, the US commercial card market in particular is outstripping other B2B payment types. For banks and banking services providers, this presents a huge opportunity to grow revenues while improving customer experience – a vital component in customer retention and increased lifetime value.
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.
International Regtech Association launched
International Regtech Association (IRTA) is a new worldwide industry body with over 100 founding members.
Legacy IT is the least of a bank’s problems
A recent Reuters article explored how companies like Cobol Cowboys make a fortune helping banks who struggle to keep their legacy systems running. But in fact, the real problem is not legacy IT, that’s just a symptom of the root problem in banks… the decision makers.
What happens to banks when they overlook their CRM data?
Keeping high data quality in customer relationship management (CRM) should be among banks’ top priorities! We explore how outdated customer profiles and poor data quality may hurt banks’ efficiency.
Top fintech stories this week – 26 May 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Fintech and the role of government
What support does the fintech industry, and the broader financial ecosystem actually want (or need) from government?
HSBC plots to stop rise of the technophobe
A lack of understanding and trust in technology is stalling mainstream adoption of innovative new fintech services, according to HSBC’s research. The bank’s report, “Trust in Technology”, shows that technologies such as fingerprint recognition, voice recognition and robo-advice “hold enormous potential” for uses from bank security to mobile payments and investment advice. John Flint, global […]
Travelex kills off Supercard
Supercard, a new card and mobile product launched by Travelex and Wirecard last June, is now being sunsetted.
FIS Details How Younger Consumers—and Some Older Peers—Are Driving Digital Banking
Nearly half—49 percent—of millennial consumers had paid a bill via mobile within 30 days of a survey conducted for a new report from FIS. That data point underscores the growing importance of digital financial services and payments not only for younger consumers but their older counterparts.
Compliance Titans: Jani Gode, Payoneer
Jani Gode’s knowledge of payments compliance reaches to parts of the globe that are about as far away from the small Minnesota farm where she grew up as you can get. Gode leads the global compliance program as chief compliance officer at Payoneer, an online payments company founded in 2005 that enables businesses to send and receive cross-border payments.
Will robotic process automation herald a new digital era in regulatory compliance in banks?
Exploring how the robotic process automation (RPA) powered digital workforce looks to disrupt the manual effort intensive regulatory compliance landscape in BFS, what edge it has over its human counterpart, the roadmap towards RPA driven compliance, challenges in this digitisation journey and success mantras, and innovations that are underway towards building intelligent RPA to replicate human decision-making.
Analysis: branches – coffee is not for closers
The vanishing branch offices… Could more coffee save them? Richard Buckle, founder and CEO of Pyalla Technologies, muses.
Nasdaq and Citi team up for blockchain-powered payments reconciliation
Nasdaq and Citi’s Treasury and Trade Solutions (TTS) have unveiled a new payment solution for automating reconciliation using Chain’s blockchain infrastructure platform. The solution enables straight through payment processing by using a distributed ledger to record and transmit payment instructions. A number of payment transactions have been done including Citi’s automated processing of cross-border payments […]
Bold statement two: statements around the bleeding edge of innovation
This is a series of posts on a subject that plays on my mind a little – the application of disruption, and innovation, when it is related through the filter of our use of language, and our desire to seem advanced. This instalment is about social media efforts.
Webinar: driving mobile banking engagement with e-signatures
This free webinar provides a discussion around how to utilise e-signatures to unlock the full potential of mobile banking applications.
Google moves to claim a bigger piece of the IoT pie
Internet giant Google has launched Cloud IoT Core, a new service in its Google Cloud Platform designed to extend its capabilities to distributed devices.
Knowledge economy in financial services: from curator to conductor
Once upon a time, not so long ago, companies tried to generate new business by sending marketing messages to prospective clients by post. Direct or “junk” mail – sending a leaflet or letter to anyone for whom the firm had a job title, street address or postcode – was pretty unsophisticated, often derided as a “scattergun” approach.
Equifax forms new alliance to develop open banking products
Equifax, credit information provider Castlight and Oakbrook Finance, the owners of consumer loan brand Likely Loans, have teamed up to develop new products for the 2018 open banking initiative. Under open banking, Equifax says bank transaction data will play a crucial role in lending decisions. Lenders will have access to real-time and historic account and […]
Sweet sixteen keen on CCRManager’s trade finance platform
Sixteen financial institutions (FIs) are onboard for CCRManager’s new electronic platform, developed for the distribution of trade finance, supply chain finance and working capital assets. Bank of China, DBS Bank, ICICI Bank, Swiss Re Corporate Solutions and UniCredit have signed up as members of the platform to support their trade risk distribution businesses. In addition, […]
