UK cybersecurity centre showcases second wave of start-ups
The UK’s National Cyber Security Centre has revealed its latest batch of nine cybersecurity start-ups.
UK
Infographic: GDPR & B2B marketers – less aware but more prepared
According to the latest research by DMA, a UK trade association for the one-to-one marketing industry, those in the B2B space are trailing slightly when it comes to having a detailed awareness of what the new General Data Protection Regulation (GDPR) laws entail.
Fintech Connect Live 2017: the unleashing of AI and ML
Fintech Connect Live 2017 is a gathering of some of the biggest players in the fintech. With the looming rise of open banking and the cryptocurrency surge, it’s the smaller start-ups and innovators of smart technologies in banking that are making headway with use of artificial intelligence (AI), machine learning (ML).
Infographic: insurtech job market
Meta search engine Joblift analysed the UK’s insurtech job market, comparing it to both the traditional insurance industry, and the insurtech market in the UK’s major competitor Germany.
UK university reveals security flaw in millions of banking apps
Researchers from the University of Birmingham in the UK have found a security flaw that put ten million banking app users at risk.
Moneycorp expands with acquisitions in Brazil and UK
The Moneycorp Group will acquire Brazilian foreign exchange business Novo Mundo Corretora de Cambio, and UK-based currency firm First Rate FX.
UK regulator puts out feelers for fourth wave of fintech firms
The UK’s Financial Conduct Authority (FCA) is now accepting applications from fintech firms to be part of its fourth sandbox phase.
Kuzzle to launch retail digital banking solution
Technology start-up Kuzzle, the open-source backend solution for mobile, web and internet of things (IoT), will launch its latest solution for digital banking at FinTech Connect Live in London.
HooYu to provide verification services for UK challenger bank Countingup
Challenger bank Countingup is the latest firm to call on London-based HooYu for its innovative identity confirmation services.
TSB unveils new banking tech platform, Proteo4UK
“We have created a more digital, agile and flexible TSB,” stated Paul Pester, CEO of TSB, at the unveiling of the bank’s new technology platform, Proteo4UK.
Supermarket victory sweep for Visa processing fees
Visa has come out victorious after the UK High Court dismissed the case against processing fees made by UK supermarket chain Sainsbury’s.
RBS closes 259 more branches and axes 680 jobs
There is another wave of cuts as the Royal Bank of Scotland (RBS) is closing 259 more branches and axing 680 jobs. This development follows the previous branch closure announcements which resulted in over 500 branches being lost. In June, RBS said 443 jobs are to go from its business loans department. Many of these […]
Case study: Triodos Bank – banking on ethical values
Triodos Bank in the UK stands out from the crowd for its ethical values but can it now kick on with a leap into the current account market? Banking Technology talks to UK MD, Bevis Watts, about this major development and the technology that underpins it.
Lloyds and Bank of Scotland hit by payment processing problems
Customers of Lloyds and Bank of Scotland have reported a host of payment processing problems as UK banks yet again fail to deliver banking services. In the repellent realm of Twitter, some users reported that wages weren’t paid at the end of the month. With the processing system down, bosses couldn’t pay their staff and […]
Lloyds to cut 49 more branches
The UK trade union Unite has revealed that Lloyds has informed staff it will be closing another 49 branches of the Halifax, Bank of Scotland and Lloyds, resulting in 99 job losses. Rob MacGregor, Unite national officer, says: “Having returned to profitability Lloyds needs to stop ignoring its corporate social responsibilities. Just over six months […]
Stress is less for banks after Bank of England test
It’s been a good year for banks as in a first since the launch in 2014, the (BoE) reveals that no bank needed to strengthen its capital position as a result of its latest stress test.
CYBG in exclusive partnership with Mastercard
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.
Standard Life Investments goes live on Calastone settlements service
Global fund transaction network Calastone has revealed that Standard Life Investments (SLI) is live on its automated funds settlement solution.
Starling makes big European push
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.
UK urged to improve data protection for the digitally naive
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 […]
NatWest, RBS and Ulster Bank hit by online banking issues
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 […]
Capital Home Loans swaps Computershare for Phoebus as lendtech provider
UK-based Capital Home Loans (CHL) has signed a five-year deal with Phoebus Software for its mortgage servicing solution.
RBS unleashes robo-advice service via NatWest brand
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%. […]
Rainmaking Colab kicks up a storm for fintech innovation
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 […]
Multiple UK banks reporting outages… again
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.
Crown Agents Bank’s new platform empowers online FX trading
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 […]
Barclays in Flux for instant digital receipts
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 goes live with iFinancial BankWare core system
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.
The UK Robo-Advice Innovation Forum: key takeaways
Distilling some of the debates and discussions and showing how robo-advice is changing wealth management and indeed impacting the banking sector.
Top fintech stories this week – 10 November 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
BNP Paribas to handle Janus Henderson’s back office
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.
Bank of England launches youthful cybersecurity challenge
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. […]
UK banks join the iPhone X Face ID rush
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 […]
Payments round-up: 7 November 2017
A distinctly European feel in our latest payments round-up. Stars Facebook Messenger, the UK’s Payment Systems Regulator, Concardis and AliPay. The UK will be the first country outside the US to get the Facebook Messenger payments service. Messenger was launched in the US in 2015 and lets people transfer cash during any conversation within the […]
AMX selects InvestCloud to power exchange solution
The Asset Management Exchange (AMX) has selected US-based InvestCloud to build a bespoke digital solution for its client base of asset owners and asset managers. The digital interface will let clients access and monitor some $2 billion of investments already on the exchange. Established by advisory firm Willis Towers Watson earlier this year, AMX is […]
Redline’s lendtech powers new motor finance platform at Shawbrook Bank
UK-based challenger bank Shawbrook has launched a new lending platform for the motor finance marketplace, powered by Cognition Direct, a direct-to-customer loan decisioning engine from Redline.
Starling Bank bolts to Yolt money app
Yolt, the money app backed by ING, has integrated with its first digital challenger bank, Starling Bank. Yolt says its aggregation functionality now enables Yolt users to view their Starling Bank account details and transactions alongside their other bank accounts, together in one place. Since launching in June 2017, Yolt states that its users have […]
No laughing matter as Smile and Co-op online banking goes down
The customers of the UK’s Co-operative Bank and its digital arm, Smile, have been affected by an online banking glitch that is preventing access to accounts. As with all these problems the banks say they are investigating. There are no more details on specifics or when the systems will be back up. However, the mobile […]
Bank of Scotland pilots AI tech for customer iPhone chat
Bank of Scotland, a subsidiary of Lloyds Banking Group, has launched a pilot artificial intelligence (AI) project – a virtual assistant for customers using the iPhone app.
Cashplus licence = new UK challenger bank
London-based financial services provider Cashplus is making the bold move into the challenger bank ring by unveiling its next move: applying for a banking licence.
