Trustly teams up with Qliro
Business-to-business (B2B) payment solutions company Trustly has partnered with e-commerce payment provider Qliro.
Europe
Russia’s CSD develops blockchain platform with Waves
National Settlement Depository (NSD), Russia’s central securities depository (CSD), and Waves, a decentralised platform for launching crowdfunding campaigns and issuing digital assets, have embarked on a blockchain project.
UK has a go at new data protection laws and it’s not a bad effort
The UK has unveiled details for its new Data Protection Bill, and while it is largely in line with European Union rules, there is also some substance to it (for once).
Barclaycard pilots Alipay payments in eight retail stores across UK
EXCLUSIVE: Barclaycard is launching a pilot that enables merchants in the UK to accept in-store Alipay transactions. The pilot will commence on 14 August 2017 in eight retail stores across the UK, with Barclaycard providing the POS solution for payments via Alipay.
Lloyds Bank target of Trickbot banking trojan
Trickbot is back, new and improved, and is targeting customers of Lloyds Bank in the UK in a new phishing campaign, according to cybersecurity specialist Cyren.
BML Istisharat gains two new takers of ICBS core banking system
BML Istisharat, a Lebanon-based banking software provider, has gained two new takers of its ICBS core banking system. These are Peterhouse Securities, a financial services firm in London, and Liberty International Bank in Abu Dhabi.
Yandex and Sberbank plot joint venture for e-commerce
Russia’s tech heavyweight Yandex and the country’s largest bank, Sberbank, are planning a joint venture to “boost e-commerce development”. The new venture will be based on the Yandex.Market platform.
Nordnet welcomes “digital employee”, AI Amelia
Nordnet, a digital bank in the Nordics, will have a “new digital employee” as of this autumn – IPSoft’s Amelia artificial intelligence (AI) platform.
Time to act: EU Funds Transfer Regulation 2015
The EU Funds Transfer Regulation 2015 (FTR 2015), which has been in effect since 26 June 2017, aims to deliver full traceability of payments. A lack of regulatory clarity is, however, leading to significant implementation hurdles that require urgent action from all stakeholders.
Bank of Lithuania to offer regulatory sandboxes for fintechs, calls for public feedback
Fintech companies will soon be able to test their products in Lithuania by creating customised regulatory sandboxes under the supervision of Bank of Lithuania.
Payworks to integrate Alipay into its POS tech Europe-wide
Payworks, a Germany-based provider of point-of-sale (POS) payment infrastructure, has inked a deal with Alipay. Payworks’ gateway tech will be supporting the integration of Alipay for payment providers across Europe.
Payments: Australia gives Swift instant results
Off the back of its involvement in Australia’s New Payments Platform (NPP), Swift has entered the instant payments market in Europe, with plans to launch a gateway solution in November 2018. The solution will enable instant payments to be made over the Swift network using a single gateway to connect to multiple instant payments systems across Europe.
BNG Bank in regtech project with BearingPoint
BNG Bank, a public sector bank in the Netherlands, is implementing BearingPoint’s Abacus regtech solution for MiFID II/MiFIR, EMIR II, MMSR and SFTR reporting.
VTB brings Alipay to Russia big time
Chinese online and mobile payment platform Alipay is looking to grow its presence significantly in Russia with the help of VTB Group.
La dolce vita for mobile payments service Jiffy in Italy
Jiffy – the instant mobile payments service developed by SIA – is now available in over 150 outlets in Milan, Rome and Turin. As reported last year, the person-to-business (P2B) project was piloted in Milan and Bergamo, allowing customers to pay via app at participating retail outlets authorised by UBI Banca. SIA said at the […]
Commerzbank processes first BPO live transactions in Austria
Commerzbank has processed the first bank payment obligation (BPO) transactions in Austria, covering the import of bus components from Germany and Italy. The buyer, a customer of Commerzbank Austria, is TAM-Europe, located in Slovenia. The suppliers are MAN Truck & Bus, headquartered in Munich, and ISAF Bus Components, an Italy-based supplier and customer of UniCredit. […]
UK Government has another run up at encryption
UK Home Secretary Amber Rudd has taken another dim-witted swipe at end-to-end encryption claiming that terrorists are the only ones who care about it, reports Telecoms.com (Banking Technology‘s sister publication). It’s the latest chapter in one of the most short-sighted and ill-informed books available today, as Rudd has continued her moronic quest to make the […]
Deutsche Börse readies for MiFID II with Risk Focus regtech
The Regulatory Reporting Hub of Deutsche Börse has launched a partnership with Risk Focus and its software subsidiary, RegTek.Solutions, to use its key system components for the hub’s OTC trade reporting solution. The functionality of the components provided by Risk Focus and RegTek.Solutions includes the Validate.Trade product, and interpretation of instrument details of OTC derivatives […]
Klarna unveils free P2P payment service, Wavy
Klarna has unveiled Wavy, a new, free P2P payments service. Available in iOS and Android as well as online, the free app enables users in more than 30 European markets to transfer euros between friends and family.
Commerzbank launches digital mortgage financing app
Commerzbank is pushing hard on its mortgage lending business ambitions with the launch of a digital financing app. The app is free and users can carry out house and apartment purchases on their smartphones. Included in the app are a budget calculation tool and access to over 200,000 properties in Germany. “We are the first […]
Figo fuels Consorsbank multi-banking launch
German fintech firm figo’s technology is the backbone for the launch of Consorsbank’s open-minded MultiBanking service. The bank, which is part of BNP Paribas Germany, says its customers can now use accounts and deposits they have with other banks after logging into their online banking. Figo says it brings the technical foundation via its business […]
Mobile bank N26 launches loans with credit marketplace Auxmoney
Berlin-based mobile bank N26 has teamed up with credit marketplace Auxmoney to offer loans in Germany. The deal builds on N26’s current range of consumer loans – and with this new partnership, N26 says it will soon be able to offer loans to those such as students, the self-employed or freelancers. The bank already offers […]
UK regulator keeps payday loan price cap in place
The UK’s Financial Conduct Authority (FCA) has published the outcome of its review into high-cost credit, which includes its assessment of the effectiveness of the payday loan price cap. With a generous amount of back-slapping, the review provides “clear evidence that FCA regulation of high-cost short-term credit (often known as ‘payday lending’) has delivered substantial […]
Lendico and SolarisBank team up for SME lending
The Berlin-based duo of peer-to-peer lending provider Lendico and fintech firm SolarisBank are working together on a long-term collaboration for financing SME loans. To begin with, SolarisBank is providing an “eight-digit sum” for financing loans via Lendico – with unspecified plans to expand this commitment in the medium-term. Dr. Clemens Paschke, co-founder and managing director […]
Everyday Loans automates IFRS 9 compliance with Jaywing
Everyday Loans, a UK-based provider of “loans for bad credit”, has signed for Jaywing’s Horizon solution for IFRS 9 modelling and provision calculation.
Interview: Ben Brabyn, Level39 – high rise
In the beating business heart of London, Banking Technology met Ben Brabyn, head of tech hub Level39, for an exclusive interview on Brexit, rivalry and how success isn’t a zero-sum game.
UK fintech start-up DueCourse goes into administration
UK-based DueCourse, a cloud-based invoice financing start-up, has run its course with the revelation that it has gone into administration. The bad news comes less than a year after it received £6.25 million in funding from investors, including the founders of TransferWise, and non-fintech firms such as LinkedIn, Zoopla and Lovefilm. According to online publication […]
Top fintech stories this week – 28 July 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Vipera acquires SoftTelecom for $1.5m
Mobile financial services company Vipera is acquiring SoftTelecom. The deal is expected to close for $1.5 million (€1.3 million).
SIX buys girocard network
SIX Payment Services is buying the Frankfurt-based girocard network operations business from VÖB-ZVD Processing, a subsidiary of Deutsche Postbank, reports Paybefore, Banking Technology‘s sister publication. The agreement provides for the customer relationships, employees and assets of the network operations business being transferred in full to SIX Payment Services as part of the acquisition. The terms of […]
Alipay comes to Greece via Viva Payments
Paytech firm Viva Payments is bringing Alipay to Greece. A strategic partnership between the two companies will see Alipay users “access the service for the first time” while visiting the country.
Bank of Cyprus in digital transformation with IBM
Bank of Cyprus has selected IBM as its “strategic partner” for its digital transformation plan.
Legal & General Insurance unveils fintech business
Legal & General Insurance (LGI) has created a new business to build and buy into a range of fintech companies. LGI says its fintech subsidiary Investments Discounts Online (IDOL), which was established in 1999, will form a key part of the new fintech business area. Nick Frankland, who’s been with LGI since 2010, will take […]
Visa expands with data centres in Singapore and UK
Visa is expanding its transaction-processing capabilities with two data centres in Singapore and the UK, reports Paybefore, Banking Technology‘s sister publication. The new global processing hubs will “increase the speed, resilience and geo-diversity of Visa’s infrastructure, while strengthening the company’s ability to deliver new and more sophisticated ways to pay in today’s hyper-connected global economy,” […]
Italy’s largest bank UniCredit gets hacked
Italy’s largest bank UniCredit has been the victim of a security breach due to unauthorised access through an Italian third-party provider to customer data – with up to 400,000 customers potentially affected. The incident is confined to Italy and relates to personal loans only. The bank says a first breach seems to have occurred in […]
3SI Security Systems’ European business acquired by Cennox
UK-based banking software specialist Cennox has completed the acquisition of 3SI Security System’s European division.
Worldline to buy Baltics payment processor from First Data for €73m
France’s Worldline is buying 100% of the share capital of First Data’s fully owned subsidiaries in Lithuania, Latvia, Estonia (aka First Data Baltics or FDB) for around €73 million, financed by available cash. This latest deal follows on from earlier this month, when Worldline announced a definitive agreement to acquire 100% of the share capital […]
UK regulator balances the looks for current accounts
The UK’s Financial Conduct Authority (FCA) has launched proposals to help people compare the service levels for personal and business current accounts. The FCA proposes that firms offer information on how long it takes to open an account; how long it takes to replace a lost, stolen or stopped debit card; and the number and […]
PCFG has banking licence restriction lifted, goes live with core and digital banking tech
UK-based Private & Commercial Finance Group (PCFG) has had its banking licence restrictions lifted. It has gone live with a new core banking system, Temenos’ T24, a front-end digital platform from Sandstone Technology and the ICS lease and loan administration solution from Sopra Banking Software.
UK Government plans new cybersecurity innovation centre
The UK is fighting back against cyberattacks with a new cybersecurity innovation centre in London and investment of up to £14.5 million to develop technology to help keep the nation safe. The investment will be made over the next three years to bolster the UK’s cybersecurity defences, and follows on from February, when the new […]
