The technology era has come with its new aesthetic, economic models and philosophy about the meaning of value. It is not going away. And the people who thought economics was theirs to define and aesthetic and values were “hobbies” have a lot of catching up to do. That catching up is your hottest technology trend of 2017.
Following the launch of Misys’ applications in the cloud – FinCloud – earlier this year, the banking software vendor has unveiled its new Platform-as-a-Service (PaaS) strategy, FusionFabric.cloud. It will be commercially available next year.
Deutsche Bank is partnering with start-up accelerator Axel Springer Plug and Play to select, develop and finance up-and-coming firms from sectors such as banking and insurance. Deutsche Bank will be an exclusive Axel Springer Plug and Play partner – the latter a joint venture between the media company Axel Springer and California-based Plug and Play […]
Standard Chartered, National Australia Bank, Mizuho Financial Group, BMO Financial Group, Siam Commercial Bank and Shanghai Huarui Bank are the latest banks to join Ripple’s blockchain-powered network for cross-border payments. “2016 has proven to be the year where the most forward-thinking financial institutions are actually using blockchain technologies for payments and settlement rather than as […]
Most people have heard of the headline-making achievements in artificial intelligence (AI); systems winning quiz shows and beating world champions in chess. These are the poster children of the discipline but there is a quieter revolution taking in shape in other areas, including regulatory compliance in financial services. Writing for Banking Technology, Mike MacDonagh, London-based […]
The Bank of England (BoE) has published a consultation paper on the next generation real-time gross settlement (RTGS) service. On the way out is the bank’s legacy 20-year old platform. The BoE is calling on the payments industry specialists to get in touch.
A new open ecosystem – where banks can enable third parties to develop mobile banking apps and cash management solutions for them – has many advantages over the previous closed world, where everybody tried to do everything themselves. The key to successful “opening up” is to provide a standard interface, such as a smart phone to a bank account, that is accessible to third parties whilst retaining the necessary control.
Having gone through an unprecedented number of high-quality entries for our Tech Leadership and IT Team of the Year Awards, and for our newly-launched Woman In Technology (W.I.T.) Award, we are pleased to unveil the shortlists.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Welcome to the world of mergers and acquisitions – and our mission to provide a quick round-up. Ant Financial, Alibaba’s payments arm, has bought Missouri-based EyeVerify, a biometric security technology company. The big deal here is that its tech is used by Wells Fargo – and regional banks and credit unions in the US. Also, […]
UBS is testing out artificial intelligence (AI) to see if it can assist clients in how best to invest their money – just by looking at their facial expressions. UBS chief investment officer Mark Haefele says the Swiss bank is running several pilot programmes – with one tool able to interpret clients’ facial expressions while […]
Finovate – now ten years old (or young) – has celebrated its anniversary with over 1,600 attendees at its New York show. Banking Technology was a media partner, and FinTech Futures Series, Banking Technology’s sister company, took part in the event.
While it sounds like something for which you’d need to visit a doctor, Swift’s HVPS+ will likely be a talking point during the payments industry panels at this month’s Sibos. Announced in mid-August, the high-value payments system task force is an important component of Swift’s ISO 20022 harmonisation initiative. A number of central banks, market infrastructures and banks from around the world are members of the task force.
“Give me a solid foundation to stand on, and I will move the Earth.” I am still looking for cement trucks that are pouring foundations – virtual or otherwise – for the new normal of banking, but I can’t find them. Bankers are really confused as to how to succeed in their own business. But like Johnny Lee, I might have been lookin’ in all the wrong places.
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
Following a joint project with O2 to create Germany’s first mobile-only, full-service bank account, GFT Technologies and Fidor have entered a broader “strategic innovation partnership”. The focus is on developing mobile financial and banking apps, and marketing/selling Fidor’s proprietary technology, Fidor Operating Systems (fOS).
Facebook has announced its Messenger bots can now accept payments natively, without redirecting users to external sites. The announcement was made by David Marcus, head of Facebook Messenger, at the TechCrunch Disrupt conference in San Francisco, as he unveiled the launch of the Messenger platform v1.2.
UnifyID, a California-based fintech start-up, has brought to market its flagship identity and authentication platform. The proposition is “holistic implicit authentication”, i.e. it leverages the individual’s uniqueness to identify and authenticate the person by combining a number of biometric authentication features, analysing the patterns and utilising the machine learning technology.
Digital banking software specialist Backbase has launched a new customer onboarding solution, which promises a complete “streamlined, omnichannel onboarding process” in just 60 seconds.
Banks and fintech companies need to collaborate to succeed, argue Saxo Bank’s global COO, Søren Kyhl, and Stig Tørnes, head of business management. And that requires a change of mindset on both sides, the sooner the better. Fintech has become the buzzword for a diverse group of companies whose ambition is to bring efficiency to financial […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Barclays and Wave pioneer blockchain trade finance transaction What is a fintech day without blockchain? UK challenger banks: who’s who The list has been updated. US credit union consortium plots blockchain use Watch out R3. Smile and an […]
Our rejuvenated Banking Technology Awards have received an unprecedented amount of entries this year – from banks, financial institutions, fintech firms and individuals worldwide – and we are happy to reveal the shortlisted candidates. Now in their 17th year, Banking Technology Awards recognise and reward excellence and innovation in the use of IT in financial […]
Barclays and fintech start-up Wave claim to have become the first organisations to complete a global trade transaction using distributed ledger/blockchain technology. Barclays is now calling on other banks to adopt Wave’s platform. “This can develop into an industry-wide improvement in how trade documentation is managed,” Barclays urges. The letter of credit (LC) transaction between […]
Lend me your ears… and eyes. LendIt and Capital One are to co-host PitchIt @ LendIt, a competition to “find a future star of the fintech world”. The competition is aimed at firms innovating within the online lending and fintech space. It provides a showcase for eight firms to pitch their business case to a […]
HSBC business customers can now open accounts using “selfie” verification, giving them the option to complete ID security checks on their mobile device. It says ID verification can be completed in a “few clicks” on an Apple or Android device. Once the initial headshot or selfie of a customer is captured, it is then assessed […]
Time flies, so we’ve devised a quick fix. Here’s a round-up of key events in the payments space. In China, Qilong and Shenzhen Qianhai Exce-card Technology (SQEC) have formed a strategic agreement to co-ordinate with banks to issue China Union Pay audio bank cards. The latter make sounds when the buttons on the cards are […]
Apple’s developers are previewing new Siri integrations for payments – such as asking it to send a secure payment without ever opening an app. The firm says with the introduction of SiriKit for developers, messaging apps can now tap into the “power” of Siri. Siri can be used to make a quick payment using Square […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Tier 1 US bank live with Temenos core and payments software Part of its American dream. Swift reveals more cyber thefts Private letter goes public. PhonePe and Yes Bank unveil India’s “first” UPI-based payments app Unified Payments Interface […]
“Silicon Valley is coming,” warned Jamie Dimon, JPMorgan Chase’s boss, in a recent letter to shareholders. It’s a sentiment echoed across much of the banking world at the moment. The idea that fintech is a threat to the financial services sector is bubbling – a 2015 PwC survey found 83% of financial services professionals were […]
Virtual bank accounts (VBAs) are a hot topic among the treasury community today. While you may have heard of VBAs before, their usage is rapidly evolving – and their benefits for treasurers continue to grow. Dick Oskam, global head of sales for transaction services at ING Bank, explains what VBAs are all about. In an increasingly […]
Global payments provider Worldpay has teamed up with Consult Hyperion, MongoDB and Visa Europe Collab to host its first internet of things (IoT) hackathon in London in September. The event aims to foster innovation and encourage participants to apply technology to integrating payments. Two themes will flow through the 48-hour hackathon – the “Smart City” […]
French software firm Dassault Systemes is inviting start-ups to apply to its “3D Fintech Challenge” to address anti-money laundering (AML) and Know Your Customer (KYC) issues. As part of its overall 3DExperience Lab initiative, the seven-week programme will identify and help nurture six start-ups that can provide systemic warnings and a 360-degree view of customer/support […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Temenos and BACB go public on core banking software project We knew back in February. Al Hilal Bank’s new CIO looks to collaborate with fintechs Let’s talk. Famous five unsettle Bitcoin with utility settlement coin Arrival of a […]
Innotribe, Swift’s innovation arm, and membership organisation Innovate Finance have launched a Global FinTech Hubs Federation (GFHF) to help foster innovation. To date, more than 20 countries – including Canada, China, Germany, Mexico, Switzerland, and the UK – are participating in the GFHF, with more countries expected to join in the coming months. Lawrence Wintermeyer, […]
BNY Mellon, Deutsche Bank, ICAP and Santander have joined UBS and Clearmatics to advance their utility settlement coin (USC) concept, and plan tests in a real-market environment. USC is a digital cash model for payments and settlement. It will run on blockchain and be another rival to Bitcoin. The group plan to build on the […]
It’s no secret that the financial services industry has tended to lag behind when it comes to adopting digital technology. Far from being leaders of innovation, banks are often stifled by lumbering IT systems and an inherent sense of caution when it comes to challenging the status-quo. With growing investment in the internet of things […]
In the course of a recent active business day I observed myself carrying a multitude of financial instruments. I had to make a payment from my business checking account to a local government agency and I was reluctant to use my business debit card. Should I have chosen my credit card the agency charged an […]
Banking Technology, ACI Worldwide and Nets have joined forces to survey the global market about the highs and lows of its current journey towards real-time payments. From individual institutions’ readiness to key market drivers, obstacles and fraud concerns, and everything in between – survey participants from across the globe share their views.
Today, most banks want to be digital leaders because that is where the customers are! This has brought in a change in the attitude of many traditional banks. Arun S. Padaki, a seasoned corporate banker, credit risk and business process management consultant, explores what it takes to become a digital leader and who is already […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! New core banking project for Temenos in Canada Exclusive. Credit union in British Columbia goes for T24. Swift slow on strong security say execs “Took their eye off the ball.” Volksbank pioneers NCR Innovation Experience Room An “experimental […]
