BankBI gains first US customer, Our Community Credit Union
Our Community Credit Union (OCCU), a $328 million institution in the US state of Washington, has selected BankBI’s financial and banking performance software.
North America
PayPal gets its fingers all over Google Chrome’s shopping
Android Pay users on Google Chrome mobile web can now pay online using their PayPal account and their fingerprint – without needing to enter in their username or password. As reported last month, Google inked several deals with PayPal (and banks) to advance its Android Pay, and this latest partnership expands it even more. Bill […]
Top fintech stories this week – 19 May 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Payments Canada welcomes ten start-ups to its Dragons’ Den
Payments Canada has revealed the ten paytech, artificial intelligence (AI) and regtech start-ups who will compete at its “Dragons’ Den-style competition” in Toronto. Called the FinTech Cup, a collaboration between Payments Canada, 500 Startups, and the Digital Finance Institute, it wants to help innovation, find talent, and drive funding for the finalists. Money on offer […]
Start-ups ProxToMe and Uniken join Wells Fargo’s accelerator programme
Wells Fargo has selected two new companies – ProxToMe and Uniken – to join its Wells Fargo Start-up Accelerator.
Crosstown Civic Credit Union in digital banking tech revamp
Crosstown Civic Credit Union, a 31,000-member institution in Winnipeg, Canada, is modernising its digital banking delivery channels with Central 1 Credit Union. Crosstown Civic CU is implementing Central 1’s MemberDirect platform, provided on a hosted basis.
A credit union star is born with Constellation launch
North Carolina-based Coastal Federal Credit Union and eight partners have unveiled Constellation Digital Partners – an organisation offering the “first and only” suite of digital financial services dedicated solely to credit unions. The creation of the firm and its platform is the result of a three-year long R&D effort, which culminated in the filing of […]
First National Bank of Pandora opens up to tech revamp with Fiserv
Ohio-based First National Bank of Pandora has selected Fiserv’s Premier core account processing platform for a front-to-back office technology overhaul. The bank has also chosen Retail Online and Business Online from Fiserv for consumer and business online banking, Mobiliti for mobile banking, CheckFree RXP for electronic bill payment, and Web Hosting and Design Services. Todd […]
WorldRemit targets migrant market with US mobile money move
Digital money transfer service WorldRemit is now available in the US and it is targeting the nation’s migrant market with its mobile money services. The firm wants to tap into the $135 billion US remittance market (the global market is $600 billion) – and says mobile money lets people in emerging market economies send and […]
Moneycorp buys Commonwealth Foreign Exchange for US boost
Moneycorp in the UK has signed an agreement to acquire US-based payments firm Commonwealth Foreign Exchange (Commonwealth FX). The acquisition, subject to regulatory licensing approvals, will allow Moneycorp to “extend the geographical reach of its payments platform”. Nick Haslehurst, chief financial and operating officer at Moneycorp, says it sees “huge potential in the US among […]
Ten start-ups power up for FIS fintech accelerator
FIS and the Arkansas-based entrepreneur support organisation Venture Center have revealed the ten start-ups for their 2017 VC Fintech Accelerator, now in its second year. The 2017 programme received 295 applications from across the US and 39 other countries. The selected companies (all American, bar one) will participate in a 12-week programme designed to accelerate […]
Temenos sunsets Trinovus core banking software business
As Temenos is now setting its sights on US banks and FIs with assets over $1 billion, smaller community banks using Trinovus’ Trinisys core system need to find new providers. Trinisys will be sunsetted in June next year.
Apple Creek Bank in front-to-back office tech revamp with Fiserv
Apple Creek Bank, a $140 million financial institution with six branches in the US state of Ohio, is modernising its technology with Fiserv. The bank will implement the Precision core processing platform, delivered on a hosted basis, plus a host of auxiliary solutions from Fiserv.
Dover Federal Credit Union revamps core system with Symitar’s Episys
Delaware-based Dover Federal Credit Union has opted for the Episys core system for in-house processing from Jack Henry’s Symitar subsidiary. According to Symitar, Dover FCU’s chief innovation officer, Travis Frey, had encountered Episys at two prior credit unions, and was “confident in the flexibility and scalability of the system”. Frey says its core selection process […]
New online banking platform for AmeriChoice FCU
Pennsylvania-based AmeriChoice Federal Credit Union has launched a new online banking platform based on the Symmetry e-banking software from Wescom Resources Group (WRG).
KeyBank and JP Morgan Chase backing Ohio fintech accelerator
KeyBank, Fifth Third Bank and JP Morgan Chase are funding and backing a new Ohio-based accelerator, Fintech71 – a nod to the cross-state highway I-71 connecting Ohio via its three largest cities, Cincinnati, Columbus and Cleveland. The accelerator will focus on growing entrepreneurial activity in Ohio and offer mentor and partnership options. Finalist teams will […]
CrossFirst Bank goes live on nCino Bank Operating System
Kansas-based CrossFirst Bank has implemented nCino’s Bank Operating System for its commercial loan process. nCino’s cloud-based solution is built on Salesforce.com. The vendor says it combines customer relationship management, loan origination, workflow, enterprise content management, business process management and instant reporting on a single platform. Amy Fauss, chief operating officer at CrossFirst Bank, says nCino’s […]
Alipay attacks Apple in North America expansion
Alipay is teaming up with First Data in North America as it looks to take a bite out of Apple’s market share. As Banking Technology previously reported, Alipay has been gaining plenty of traction around the globe – with HelloPay Group in Asia merging with Ant Financial (which runs Alipay); and inking deals with European […]
Time running out for CRA rollback of US final prepaid rule
The clock is winding down for US Congressional lawmakers to repeal the Consumer Financial Protection Bureau’s (CFPB) final prepaid accounts rule under the Congressional Review Act (CRA), reports Paybefore (Banking Technology‘s sister publication). Under that law, Congress has until 9 May – 60 legislative days after the law was published in the Federal Register – to repeal […]
FinovateSpring 2017: panel discussion (the conference’s first ever!)
FinovateSpring 2017 in San Jose, US, concluded with its first ever panel discussion! “Our panelists will recap the key demos and help put the innovations on display into a broader context,” the conference organisers said.
Conference overview: “literally everything” from FinovateSpring 2017
Wished you were at FinovateSpring in San Jose but missed it? No worries – we’ve got it covered. A comprehensive overview of the two-day conference – session by session.
US payroll cards not lively enough for customers’ lives
The US payroll card industry received high marks for its standards and its ability to “stretch beyond the basics” but got an average mark for its ability to provide additional services that “improve customers’ lives,” reports Paybefore (Banking Technology‘s sister publication). According to the first-ever “Payroll Industry Scorecard” from the Center for Financial Services Innovation […]
Maryland credit union duo merge on FLEX core tech
Two small credit unions in the US state of Maryland, Perry Point Federal Credit Union and Central Credit Union of Maryland (CCUMD) have merged.
Lehigh Valley Educators CU live with new core tech
Lehigh Valley Educators Credit Union has gone live with a new core processing platform, Keystone, supplied by Corelation. The Pennsylvania-based credit union stated its tech renovation project last year.
US bill targets Consumer Financial Protection Bureau revamp
The US Consumer Financial Protection Bureau (CFPB) is the target of a bill that includes myriad changes to its responsibilities and structure, reports Paybefore (Banking Technology‘s sister publication). US representative Jeb Hensarling (Republican, Texas) has pulled the trigger, reintroducing legislation that has the Dodd-Frank Act squarely in its crosshairs. The act comprises major changes to […]
Liberty Bank goes Geezeo for digital finance revamp
Connecticut-based Liberty Bank has chosen Geezeo’s retail and business financial management solutions for more data and insights for its customers. Geezeo is a white-label personal financial management (PFM) provider for banks and credit unions in the US. The bank will use “Responsive Tiles” – which offers digital money management features that can be integrated into […]
Payments keep pushing Fiserv revenue growth
The power of payments keeps on driving revenue growth upwards for Fiserv – with some healthy Q1 2017 results. GAAP revenue for the company increased 5% in the first quarter to $1.39 billion, driven by 6% growth in its payments segment and 4% growth in its financial segment, compared to the first quarter of 2016. […]
Symitar edges to new record with six credit union clients
Jack Henry’s subsidiary Symitar has set a new record with the addition of six new US credit unions to its Episys core processing system in one fiscal year. All of these credit unions have more than $1 billion in assets and Symitar says getting six new relationships in one fiscal year breaks its previous record […]
Trio tussle to win Payments Canada’s tech revamp contract
CGI, SIA and VocaLink are fighting it out to win the contract for Payments Canada’s new core clearing and settlement system. Payments Canada has invited the three suppliers to participate in a competitive procurement process for the country’s new system, called Lynx. Jan Pilbauer, executive director of modernisation and CIO at Payments Canada, says this […]
Executive profile: one on one with Joan Herman, Sunrise Banks
She witnessed the rise of electronic transactions and worked on the first shared ATM network card. Now this self-proclaimed pioneer woman has her sights set on prepaid and a mobile future.
BBVA buys Mexican payments start-up Openpay
BBVA Bancomer, a fully owned subsidiary of BBVA, has acquired Mexico-based payments start-up Openpay to tap into its network of more than 15,000 payment reception points across the country. Openpay offers a platform for physical and electronic payments for businesses via its real-time Paynet network. According to BBVA, the start-up manages more than one million […]
USAmeriBank in “next generation” payment hub move
USAmeriBank (formerly Aliant Bank), a $3.8 billion bank operating in the US states of Alabama and Florida, is building a new payments hub for its domestic and international wire transfers.
Corelation signs three credit unions for Keystone core tech
California-based core banking software vendor Corelation has added three more customers to its list. These are Blue Eagle CU, Brazos Valley Schools CU and Long Beach City Employees FCU.
Innovation spotlight: North American FIs going social
As banking continues to go digital, online innovators and niche players in North America are getting personal by adding social activities to their customer services.
CFPB to delay final prepaid rule by six months, “revisit” aspects with new proposal
It’s official. The US Consumer Financial Protection Bureau (CFPB) is pushing back the effective date of its final rule on prepaid accounts until 1 April 2018 – six months after the originally scheduled implementation date of 1 October 2017.
Payments start-up Plastc goes bust
Plastc, a US fintech start-up that created a card that could digitally hold 20 credit or debit cards, is filing for bankruptcy.
BBVA and Ripple complete blockchain cross-border money transfer pilot
BBVA has announced the completion of “the first real-life implementation of an international money transfer using Ripple’s new distributed ledger technology (DLT)”. The transaction, which ran on BBVA infrastructures with real money, resulted in money moved between Spain and Mexio “in a matter of seconds”.
SouthEast Bank in front-to-back office tech revamp with Fiserv
SouthEast Bank, a $1.2 billion financial institution in the US state of Tennessee, is implementing Fiserv’s DNA core banking system and a range of auxiliary solutions from the vendor.
Unauthorised transactions vex US prepaid consumers – CFPB’s latest report
Prepaid complaints to the Consumer Financial Protection Bureau (CFPB) in the US hit 2,500 in 2016, accounting for about 0.9% of the 291,400 complaints in agency’s latest Consumer Response Annual Report.
Zelle makes its presence known in P2P payments arena
The recent performance of Zelle Network, the peer-to-peer (P2P) payments platform with the funny name, is no laughing matter for competing P2P providers.
