With PSD2 on its way in January next year, the European Commission has confirmed the deadline for its regulatory technical standards (RTS) will be around September 2019. By way of recap, the security measures outlined in RTS stem from two key objectives of PSD2: “ensuring consumer protection and enhancing competition”. RTS introduces requirements that payment […]
Nordea’s start-up and growth unit has unveiled a new partnership agreement with Nordic Business Angel Network (NordicBAN), a network of start-up investors in the Nordics and Baltics.
Digital wallet provider Memento working with Icelandic bank Islandsbanki has deployed a new service to allows users to create money pools for others to chip in, privately or publicly.
Erste Bank und Sparkassen with its “George Go” app has become Austria’s first mobile payment wallet based on host card emulation (HCE) technology, powered by G+D Mobile Security’s Convego CloudPay solution.
Mastercard and Clydesdale and Yorkshire Banks (CYBG) have unveiled a seven-year agreement that allows for all CYBG debit, credit and commercial cards to use the Mastercard network.
BBVA, working in collaboration with Wave, performed the first blockchain-based international trade transaction between Europe and Latin America.
The European Central Bank (ECB) conducted a comprehensive study to analyse the use of cash, cards and other payment instruments used at points of sale (POS) by euro area consumers in 2016.
De Volksbank, a retail and SME bank in the Netherlands, has migrated over 122,000 investment accounts to Ohpen’s core banking platform.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Global fund transaction network Calastone has revealed that Standard Life Investments (SLI) is live on its automated funds settlement solution.
UK-based challenger bank Starling is taking the battle to lenders after being granted a contract allowing for a big push into wholesale banking in Europe.
Several consumer groups have written to UK Minister for Digital Matt Hancock urging changes to data privacy and protection rules, removing grey areas which allow companies to navigate breaches unscathed, reports Telecoms.com (Banking Technology‘s sister publication). Many rules and regulations should be viewed as dated today. This is not necessarily anyone’s fault, but is more […]
This is becoming a regular fixture in the UK, as yet again British banks are reporting online banking problems. In the latest glitch, customers of NatWest, Royal Bank of Scotland (RBS) and Ulster Bank have been hampered by the outage. The trio say they are “aware of some issues” with their online banking services. Customers […]
Google is eyeing an expansion in Europe, buying land in Denmark where it plans to build a new data centre that could be used to expand the company’s cloud computing footprint, as well as meet new European Union standards related to data privacy, reports Enterprise Cloud News (Banking Technology’s sister publication). Reuters reported that Google’s […]
It may not provide all the ticks on everyone’s wish list, but the new SEPA Instant Credit Transfer Scheme (SCT Inst) could well be the start of something even more seismic for the European payments sector and also pave the way for a different, more immediate way of conducting business.
The Single Euro Payments Area (SEPA) Instant Credit Transfer (SCT Inst) scheme created by the European Payments Council (EPC) is now operational. As of today (21 November), the EPC says nearly 600 payment service providers (PSPs) from eight European countries are offering instant payment solutions based on SCT Inst. It was launched last year, with […]
UK-based Capital Home Loans (CHL) has signed a five-year deal with Phoebus Software for its mortgage servicing solution.
Customers are impatient and friction leads to lost sales – a key takeaway from last week’s seminar on the use of “Biometrics in Banking and Payments” organised by the European Association for Biometrics. Researched flagged by Michael Sass, VP market product management, security solutions Europe at Mastercard, highlighted the potential impact on revenue; abandonment rates […]
Spanish bank IberCaja has implemented and integrated Meniga’s digital banking solution into its core systems for real-time customer data processing. According to Meniga, it is the first personal finance software provider that IberCaja has partnered with as part of its digital revamp. Victor Iglesias CEO at IberCaja, says the agreement is an “important milestone in […]
Wealthtech is coming to the UK high street as Royal Bank of Scotland (RBS) has launched a robo-advice service for around five million customers under its NatWest brand. The service will be available for clients with a minimum of £500 to invest. The total cost of advice, investment and platform fees will be at 0.95%. […]
Fiorano Software, a specialist in integration middleware and API management, has launched Fiorano PSD2, a solution enabling banks to comply with the European Union’s PSD2 regulations.
This free white paper discusses the implications of PSD2 from an end-user standpoint.
Indian tech vendor L&T Infotech (LTI) has acquired Syncordis, a Luxembourg-based core banking implementation specialist, for €15 million.
ABN Amro has launched the first version of its Developer Portal, with a series of commercial application programming interfaces (APIs). The bank says working more closely with external developers will help it accelerate innovation and improve its services.
Fintech is running like clockwork in Switzerland as over 30 proof of concepts (PoCs) and partnerships have been secured at Zurich-based Kickstart Accelerator’s tech programme. The accelerator – an initiative of digitalswitzerland and operated by Impact Hub Zurich – saw 29 start-ups as well as an intrapreneur team from AXA Winterthur and Swisscom working in […]
Raiffeisen, the third largest banking group in Switzerland, is selling its 10% stake in core banking tech vendor Avaloq to private equity firm Warburg Pincus.
Large companies getting sued is nothing particularly new, but a lawsuit over whether Facebook has violated the data privacy rights of European citizens might make quite a splash, reports Telecoms.com (Banking Technology‘s sister publication). As reported back in September, Facebook was slapped with a fine from the Spanish data protection watchdog for inappropriately collecting and […]
Rainmaking Colab is looking to make its new model of innovation reign via a theme-based fintech programme that taps into mature markets. Created by the founders of Rainmaking and Startupbootcamp FinTech, they say “mature fintech markets like New York and London are starting to experience ‘accelerator fatigue’ and require a new way of thinking to […]
A bounty of users? The European Payments Council (EPC) has created a nifty infographic that covers the SEPA Instant Credit Transfer scheme.
Can’t shake the sense of déjà vu? Customers of Lloyds, TSB, Halifax and Bank of Scotland will know the feeling, after receiving more reports of outages.
Inside ETFs has produced a dedicated industry report for its 7th annual Inside ETFs Europe conference, Europe’s largest and most-respected exchange-traded funds (ETF) conference.
UK-based Crown Agents Bank (CAB) has launched a new online foreign exchange (FX) trading platform – EMpowerFX – offering access to prices on emerging market and major traded currencies. “Our OECD-based clients depend on our ability to offer a diverse range of hard-to-find and illiquid currencies, from the Belize dollar and Ethiopian birr, to the […]
France’s latest mobile-only bank, Orange Bank, has gone live on Backbase’s Omnichannel Banking Platform. Backbase says Orange is the only French bank to offer for free a service that provides real-time balances, mobile payments and a virtual adviser that is available 24 hours a day, seven days a week. Orange Bank was finally launched on […]
Barclays is trialling itemised digital receipts to its customers via a partnership with start-up Flux, a rewards and receipt platform. The upcoming trial will take place with around 10,000 users of the Barclays Launchpad app, its platform for testing new features with “real customers to learn more about how best to meet their needs”. Matty […]
Gibraltar Savings Bank has gone live on International Financial Systems’ (iFinancial) Bankware core system – the first phase of a three-phase implementation plan to replace its in-house legacy system.
Distilling some of the debates and discussions and showing how robo-advice is changing wealth management and indeed impacting the banking sector.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Janus Henderson Investors has chosen BNP Paribas Securities Services to assume responsibility for most of its back office; fund administration and fund accounting, middle office and custody functions in the US.
The Bank of England (BoE) has unleashed a cybersecurity challenge for the young at heart as it seeks to maintain monetary and financial stability. It cites recent cyberattacks on high-profile systems and organisations such as the Bank of Bangladesh as something to be wary of. To that end, it’s calling for people to: “Think big. […]
Customers of TSB and Tesco Bank are now able to use facial recognition technology, Face ID, for mobile banking app and make payments. The new technology is exclusive to Apple’s iPhone X. Carlos Abarca, TSB’s chief information officer, says: “Providing customers with biometrics logon to their mobile banking, such as Face ID, means all of […]
