Amidst the mass of humanity at Money 20/20 Europe in Copenhagen, Olivier Sery, general manager Iberia for TAS Group, took a few moments of his time to discuss the company’s software solutions for electronic money and payment systems; and its future plans. “We’ve done the investment, but now is the time to grow our footprint.” […]
Dutch bank ING has revealed it’s working with 45 fintech start-ups on banking innovation, such as money management, payments, lending and mobile on-boarding. Ralph Hamers, CEO of ING Group, says of the 45 fintech firms, these include seven start-ups working on their proof-of-concept through the ING Fintech Village initiative in Belgium, and four through the […]
Over $100 billion fines were paid in US for non-compliance since 2007! More than $2.5 billion in 2015 alone was a result of incomplete and inaccurate data used for complying with anti-money laundering (AML) regulations. It’s not just financial institutions, but most firms are sitting on a ticking time bomb. How? Dr Seth Rao, CEO […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Atom Bank adds another system to its tech set-up; readies mobile app Bank has just launched, but already has problems. Monitise looks to be profitable in H2 2016 But did it grow too big too fast? EFG and BSI […]
It’s time for banks to wake up. Fintech is advancing at an alarming rate, and the banking world is falling behind. And while we can all agree that fintech is revolutionising the industry, there is still plenty of disagreement as to how financial institutions should respond to the changes. Traditional establishments are cautious to implement […]
UK-based payments vendor Monitise seeks to turn its fortunes around with a new digital payments offering, new COO and a new, re-focused business structure. Banking Technology investigates. Choppy waters The mobile payments vendor has had a difficult few years, partly attributed to growing too big too fast. By 2014, it had to write off £128.5 […]
Did you know that in the Netherlands 54% of all transactions are carried out using the iDEAL online banking system? Or that Germans prefer to pay on account via direct debit and the popularity of e-wallets is growing in Russia? ‘The world of e-commerce’ reveals the three most popular e-commerce payment methods across 22 countries […]
Global Post Trade Management (GPTM) is a combination of Broadridge’s existing systems and products plus some new components. GPTM has already been adopted by “a major investment bank”, the vendor says. Although the solution is marketed as a new, “next generation” offering, its underlying technology comprises the existing products of Broadridge. “GPTM incorporates Broadridge’s core […]
Nissan Motor Acceptance Corporation (NMAC) will install a new leasing solution, Wholesale Floorplan Finance System (WFS), supplied by specialist vendor Sword Apak. It will be delivered on a Software-as-a-Service (SaaS) basis. NMAC was looking for a new solution “that would provide an outstanding level of service to dealers”, says Sword Apak. The company is also […]
Finca Bank Georgia, an affiliate of Finca International, a global microfinance organisation, is looking to modernise its online and mobile banking systems. The bank has recently issued a tender to find a new provider and software. Banking Technology understands that the selection is in its final stages at present, with contract negotiations underway. Once the […]
Inter-American Development Bank (IDB) is looking for a new back office system, Banking Technology understands. The bank is a long-standing customer of Misys. It has been using its Opics treasury and capital markets (TCM) system for many years, and in 2014 it also signed for Summit, another back office system from Misys’ portfolio of TCM […]
Barclays’ business banking service, Barclays.net, decided it would also take time off during the three-day Bank Holiday weekend in the UK. The system suffered intermittent outages from 29 April until today (3 May), and there were numerous complaints on Twitter from angry users. The impact on customers ranged from trying to pay staff or facing […]
Croatia-based Banka Kovanica d.d. Varazdin has gone live with a new core banking system, NovoDoba, supplied by local developer ABBA. The bank implemented 34 modules of the system, including internet banking, fraud prevention, reporting and customer analysis. The new platform went live in a “big bang”, with the full data migration from the legacy system. […]
UAE-based Islamic financial institution, Siraj Finance, is replacing ITS’s Ethix core banking system with iMAL from Path Solutions. The new platform will cover all main operations of Siraj Finance, including transaction processing, treasury, trade finance, investment management, profit calculation, credit bureau interface, Swift, electronic cheque clearing, provisioning and reporting. Abu Dhabi-based Siraj offers consumer and […]
With MiFID II now confirmed and MAR just around the corner, Dave Tolladay of Alerts4 Financial Markets examines the key questions facing financial institutions having to increase trade surveillance monitoring spend while reducing costs. Between €500 and €700 million – that’s the estimated one-off compliance cost to be imposed on financial firms carrying out a […]
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 […]
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 […]
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 […]
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. […]
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 […]
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. […]
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’ […]
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 […]
A search for fintech now returns nearly ten million results – astounding, when you consider the first searches were recorded in 2005. But how many of those results focus on, or indeed are sourced from fintech innovators in the truest sense of the word, asks Philippe Gelis, CEO and co-founder Kantox. The reality is that fintech is […]
Infosys Finacle and software firm Onegini are partnering to integrate Onegini’s mobile security platform with Finacle banking solutions. Using this solution, Infosys says banks can offer customers an option to select “advanced” authentication methods, including fingerprint, facial, eye and voice recognition as well as multi-factor authentication for “added security” as they transact on devices. The […]
In a world where prudential regulatory rules are interlinked the old temptation to explore one regulatory development at a time is damaging. Regulatory reporting, and the technological systems behind it, need to adapt if we are to avoid past mistakes, writes Selwyn Blair-Ford, head of global regulatory policy at Wolters Kluwer. Here’s a scenario that […]
Mobile point-of-sale (mPOS) is revolutionising the POS terminal industry. In two years, the market is estimated to be worth $43 billion. By 2019, 46% of all POS terminals in 2019 are expected to be mPOS. Over the next four years, the market is poised to grow by 400%. This nifty infographics – courtesy of FIME – […]
Misys today is launching Misys FinCloud, a range of cloud solutions and “global cloud environment” for its clients. It is supported by “selected global and local infrastructure providers, systems integrators and solution partners”, including Rackspace and NTT Communications, Misys says. With Misys FinCloud “clients gain faster access to innovation through shorter and more predictable on-boarding […]
Morgan Stanley has brought blockchain back to earth, calling it a “double-edged sword” because while it helps banks reduce clutter, profits could fall or shift to new players. In its 31-page report, “Global Insight: Blockchain in Banking: Disruptive Threat or Tool?”, the company predicts blockchain’s “widespread potential to disrupt financial intermediaries” but says there are […]
Biometric security in the financial services sector has finally reached the tipping point many have been anticipating since Apple launched its fingerprint recognition technology one whole iPhone generation ago. We recently saw the first of the major banks to announce that both fingerprint and voice recognition technology will be viable account login options for millions […]
National Bank Holdings (NBH), a US-based holding company of a group of local community banks, has gone through a major technology overhaul with FIS. The group, which comprises three banks, has implemented FIS’s core banking system, IBS, online and mobile banking applications and a cheque imaging system, Check Image. In its latest quarterly results, NBH […]
US-based Fidelity Bank will move its latest acquisition, American Enterprise Bank of Florida, onto its core banking system, Fiserv’s DNA, from FIS’s Horizon. American Enterprise Bank added $209 million in assets, $147 million in loans and $182 million in deposits to Fidelity Bank. It also brought two branches in Florida. The bank’s Horizon core banking […]
US-based software vendor, Corelation, has onboarded 50 credit unions for its flagship Keystone core system. Keystone is a much newer system than most of its rivals, having hit the market just seven years ago. Corelation has also recently moved to a new head office in San Diego, California, to an office space four times bigger […]
Cyber attacks against the banking industry have soared in the last few years. And financial institutions now face 300% more attacks than any other industry. Comparatively with other industries, the financial services industry isn’t shy where it comes to cyber security investment and generally has a superior level of protection. But this attracts a more […]
Asia Green Development (AGD) Bank, one of the first commercially owned banks in Myanmar, is automating its ops with Infosys’ Finacle core banking system. This is Infosys’ first core banking system client in Myanmar. The system will support all main operations of the bank, front-to-back office, including online and mobile banking. Finacle will oust a […]
Bermuda Commercial Bank (BCB) has gone live with Temenos’ T24 core banking system (R13). The bank has also implemented Temenos’ business intelligence and analytics tool, Insight, and an AML solution. Sofgen, a Switzerland-based specialist IT consultancy and integration firm (now part of Tech Mahindra), carried out the implementation. The project was 18 months in the […]
Blockchain is a revolution in reconciliation but not in payments, is one of the messages coming out of the Swift Business Forum London 2016. For the sixth edition of the show, more than 1,300 delegates were rammed and jammed into Tobacco Dock, London. This morning’s (20 April) sessions were dominated by warm-up speeches that praised […]
Payments UK’s new service – Standards Collaboration Framework – offers institutions support in the implementation of industry standards. The first taker has already been onboarded. This is Faster Payments Scheme Limited (FPSL). Payments UK says the customer “will use the central, well-maintained ‘library’ to simplify how its industry stakeholders access and receive notifications about updated […]
ISO 20022 Registration Management Group, the senior global registration body, has approved the ISO 20022 message guidelines – they have now been published. The new guidelines were developed by the ISO Real-Time Payments Group (RTPG) and facilitated by Payments UK, the representative of the country’s payments industry. Payments UK describes this development as “an important […]
