Multi-cloud, multi-headaches?
While a multi-cloud strategy offers potential benefits for banks, it also introduces significant challenges.
Partnerships
Finastra selects OpenFin to enhance Kondor treasury management solution
OpenFin’s workspace software will “redefine the user experience” of Kondor, Finastra says.
Franklin Templeton partners Microsoft to build “advanced financial AI platform”
The firm will leverage Microsoft’s Azure AI services, including its AI Search and AI Document Intelligence functions.
Iowa’s Affinity Credit Union taps Mahalo Banking to enhance digital banking offerings
The credit union is also converting its core system to Corelation Keystone.
Digital lending platform Blend Labs bags $150m funding from Haveli Investments
Blend will use the cash to repay “all amounts payable” under its existing credit agreement.
EPAA forms working group with IBM, HSBC, AP+, and PayPal to explore quantum-safe cryptography
The WG-QSC intends to publish its initial findings ahead of Sibos in October 2024.
FinTech Founders Video: the importance of goal alignment in fintech partnerships
Continuing our focus on fintech partnerships, this episode looks at goal sharing and alignment.
FinTech Futures: Top five news stories of the week – 26 April 2024
Our pick of the top fintech news stories this week includes Monese, Temenos, Synapse and more.
Former Tesla exec Tim Newell to spin off Aspiration’s consumer financial services division
The new standalone company will act as an independent neobank offering environmentally sustainable products.
UK property lender Together taps nCino for cloud banking solution
Together claims to have a loan book exceeding £6.8 billion, originating over £200 million in loans monthly.
British Caribbean Bank triggers core banking overhaul with Finastra
The lender has opted to transition its core to the vendor’s Fusion Essence solution.
Thunes to boost US footprint with acquisition of Tilia
Tilia is to rebrand as Thunes and maintain operations from San Francisco.
TabaPay to acquire assets of struggling BaaS fintech Synapse
Synapse previously filed for Chapter 11 voluntary bankruptcy and laid off over 50% of its workforce last year.
Kinsted Wealth deploys Objectway for discretionary portfolio management
President and CCO Adam Payne says the deal comes amid a need to “focus on our core business”.
Wells Fargo to integrate AI into trade finance operations with TradeSun
The San Francisco-based bank will utilise the fintech’s TradeSun Intelligence V4 solution.
Navy Federal Credit Union partners Zafin for product and pricing capabilities
The credit union says it’s in the process of pivoting its legacy core to a “cloud native, real-time banking core”.
FinTech Founders Video: how to forge successful fintech partnerships
Three fintech founders discuss the best ways to assess a potential partner in financial services.
Wintrust Financial Corporation acquires Macatawa Bank for $510m
Founded in 1997, Macatawa Bank manages a network of 26 full-service branches across Michigan, USA.
BlackRock and Jio Financial Services to launch wealth management and brokerage services in India
The agreement was filed with the National Stock Exchange of India this week.
Stripe raises $694m through share sale to provide employee liquidity
The company had previously announced the tender offer to provide employee liquidity in February.
Navy Federal Credit Union agrees new seven-year partnership with Backbase
NFCU is “continuing to standardise” with the fintech’s engagement banking platform.
United Bank in Alabama taps Jack Henry for digital upgrade
The bank is to adopt the vendor’s LoanVantage solution and Banno Digital Platform.
FinTech Futures: Top five news stories of the week – 12 April 2024
Our pick of the top fintech news stories this week includes Linqto, HSBC, Santander and more.
Google Cloud to develop quantitative research and genAI capabilities for three new industry takers
The deals were revealed during the Google Cloud Next event in Las Vegas this week.
Arizona Financial Credit Union taps NCR Atleos for ATM management
The Phoenix-headquartered credit union has opted for NCR Atleos’ ATMaaS solution.
US start-up Parafin lands $125m warehouse facility from SVB and Trinity Capital
Parafin previously raised $60 million in a Series B funding round led by Singapore’s GIC in 2022.
UK fintech Gresham Technologies to be acquired by STG Partners for £147m
The acquisition is expected to close by the third quarter of 2024.
Busey Bank launches commercial credit cards with Corserv
The bank is delivering the cards using Corserv’s account issuer programme.
Tradeweb to acquire wealthtech ICD in $785m deal
The all-cash deal is expected to close in the second half of 2024.
BankPro taps Arroweye to launch dual interface debit cards in the Caribbean
US-based Arroweye will support BankPro’s card programme with its on-demand production model.
ICYMI fintech funding round-up: Zeepay, Coadjute, Hello Alice, CertifID and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
First State Bank partners Jack Henry for core processing and digital banking platform
The bank will have access to the vendor’s network of over 950 API-integrated, third-party fintechs.
TD Bank inks multi-year strategic partnership with Google Cloud
TD hopes the partnership will help streamline the development and deployment of new products and services.
BIS unveils Project Agorá to explore the tokenisation of cross-border payments
Project Agorá will see seven central banks work in partnership with several private sector participants.
State of play: core banking
Investment in core banking technology will continue to be the utmost priority for the industry.
First Abu Dhabi Bank partners Microsoft to develop new AI-powered banking capabilities
Banking-as-a-Service and Risk-as-a-Service have been cited as two “potential areas of collaboration”.
Banking Technology Magazine April 2024 issue out now
Core story: GOLD GETTERS – The Olympics and fintech make the perfect team.
US-based NWSB taps Apiture to upgrade digital banking capabilities
The community bank will implement Apiture’s Digital Banking Platform offering alongside a number of other solutions.
Missouri’s Central Bank taps Personetics for AI-powered money management solution
The bank is looking to expand its digital financial wellness offerings for its retail customers.
Demystify Podcast: Fintech partnerships with Sam Everington of Engine by Starling and Carlton Hopper of GFT
In this podcast episode, Dharmesh and Dave explore the partnership between Engine by Starling and GFT.
