Panama-based Prival Bank is implementing a new core banking system, Temenos’ T24. It will be delivered on the Microsoft Azure cloud. Temenos says Prival Bank is its “first regulated wealth client in the cloud”. Go-live is scheduled for 2018. The contract was signed in late 2015, it is understood. T24 will support lending and deposits […]
They said it. We read it. We edit. Hot on the heels of Monday’s (24 April) fintech funding round-up, we have more action. Featuring Quovo, Gnosis and Indian Angel Network. New York-based Quovo, a data platform providing insights and connectivity for financial accounts, has raised $10 million in Series B funding. F-Prime Capital and Napier […]
Paybefore announced the winners for the 2017 Pay Awards—the most prestigious recognition of excellence in the global prepaid and payments technology industry. Our expert judging panels have made their decisions. Now you can weigh in and help your favorites win the coveted Best-in-Category designation and a spot in the Pay Magazine – Awards Issue.
Here’s something brief to avoid wasting precious minutes on pernicious waffle. A blockchain and Bitcoin round-up, featuring Populous, Humaniq, BOScoin and the Winklevoss twins. In the UK, blockchain invoice and trade finance platform Populous will launch its initial coin offering (ICO) on 16 July. It is an Ethereum-based platform and uses smart contracts, XBRL data […]
i2c Inc. has joined forces with expense management specialist Bento for Business to launch a new prepaid card designed to give small business owners and their employees a better way to manage spending and expenses. Powered by i2c’s Agile Processing payments platform, the Mastercard-branded Bento employee expense card features integrated alerts, card-level restrictions and digital dashboards to enable companies to track and control employee spending in real-time, the companies said.
The digital edition of the spring 2017 issue of Pay Magazine is now available and it’s full of insights and information to help move your company forward. A theme of the spring issue is game-changing technology—and the innovators, products and companies behind it. This edition of Pay Magazine includes an interview with The Bancorp’s Jeremy Kuiper, who discusses some of the major shifts occurring in the industry.
Paybefore’s Pay Magazine Spring 2017 issue out now.
Swift has launched a proof of concept (PoC) to explore whether blockchain/distributed ledger technology (DLT) can be used by banks to improve the reconciliation of their nostro databases in real time. Under the current correspondent banking model, Swift says banks need to monitor the funds in their overseas accounts via debit and credit updates and […]
Oracle has continued its quest to buy its way into the cloud game with the acquisition of ad tracking company Moat for a reported $850 million.
U.S. EMV use has hit a milestone. Visa said that for the first time, the number of Visa chip card transactions topped 1 billion last month, a 330 percent increase from March 2016. The announcement comes as the payment network reported a 42 percent overall increase in processed transactions in its 2017 fiscal second quarter.
The latest fintech funding round-up featuring Token, Ongo, National Bank of Canada (NBC) and a bunch of venture capitalist firms.
Banking software vendor Temenos has reported a strong start to 2017 with total software licensing revenues up 19% – and it takes a swipe at rival Avaloq in the process. In its Q1 2017 financial results, its non-IFRS total revenues were $142.7 million compared to $129.4 million for the same period last year. Non-IFRS EBIT […]
Save the date! 18th Annual Banking Technology Awards will take place on 6 December 2017 at the elegant Millennium Hotel London Mayfair. Visit our newly updated awards website for more info.
It’s official. The CFPB is pushing back the effective date of its final rule on prepaid accounts until April 1, 2018—six months after the originally scheduled implementation date of Oct. 1, 2017. What’s more, the agency has decided to “revisit at least two substantive issues” in the final rule: requirements for digital wallets that are capable of storing funds; and error resolution and liability limitations for prepaid accounts that cannot or have not yet been registered.
GoHenry, a UK-based digital banking solution to help young people manage their money, has appointed fraud prevention firm Featurespace to safeguard customers’ accounts. GoHenry was founded by a group of parents to help young people aged six to 18 “learn good money habits”. It is a subscription service, which offers a prepaid debit card and […]
Hungry Facebook Messenger users can order a meal, do their grocery shopping or send a gift card for a sweet treat without leaving the messaging platform. Mastercard announced April 18 at the Facebook Developer Conference that it has launched Masterpass-enabled, artificial intelligence-powered chatbots with Subway, FreshDirect and The Cheesecake Factory.
Blackhawk Network has launched a gift card program with grocery chain Albertsons that promises to give shoppers more options for “spring and summer holidays” such as Mother’s Day and Father’s Day, Blackhawk said. The program focuses on category gift cards that run via the Visa payment network.
Mastercard has launched its latest biometric card, combining chip technology with fingerprints to verify the cardholder’s identity for in-store purchases. South Africa is the first market to test the evolved technology, with two separate trails recently concluded with Pick n Pay, a supermarket retailer, and Absa Bank, a subsidiary of Barclays Africa. According to Mastercard, […]
Scott Pearson, a partner in the consumer financial services group at Ballard Spahr, has been named a fellow of the American College of Consumer Financial Services Lawyers.
Bento for Business, a provider of employee expense management solutions for small businesses, has appointed Lou Friedmann as chief revenue officer.
CO-OP Financial Services Chief Product and Strategy Officer Shazia Manus was named the winner of the Confidence Award during Inspiring Women of Iowa, an annual event sponsored by the Girl Scouts of Greater Iowa.
German consumer finance technology company Kreditech Group has named Michael Lenora as independent chairman of the board and Andy Golding as an independent board member.
Mobile banking and telecom provider Next Group Holdings has signed Jeff Lewis, president of Jeff Lewis Advisory, to provide oversight and recommendations on the development of its GPR and gift card products.
VocaLink mobile payments app arm Pay by Bank has appointed Agnes Woolrich as marketing director.
QCash Financial, a provider of small-dollar lending technology for financial institutions, has become a member of the Center for Financial Services Innovation (CFSI)’s Financial Health Network.
Mobile loyalty and payments platform provider Sionic Mobile has named Nat Milburn as managing director of enterprise development.
SRM (Strategic Resource Management), an independent contract advisory firm for financial institutions, has appointed Ken Hayes as senior vice president of strategic solutions.
W2 Global Data has appointed Sara West as its chief commercial officer.
UK-based Yorkshire Building Society (YBS) has chosen Capriza’s platform to help improve its digital and mobile capabilities. The society will use the platform to let its customers connect and apply for its mortgages and savings accounts through mobile devices. Nick Mortimer, head of marketing and e-commerce, Yorkshire Building Society, says Capriza’s platform offers “very little […]
IBM has reported a mixed bag of results for the first quarter of 2017, with the strategic imperatives offerings up but overall revenues down 2% to $18.2 billion, reports Telecoms.com (Banking Technology‘s sister publication). While another quarter of decline is nothing new to report for Big Blue, what might be worrying for the team is […]
Nasdaq has unveiled its venture investment programme, Nasdaq Ventures, as it seeks out new fintech firms to work with in the global capital markets. Adena Friedman, president and CEO, Nasdaq, says it plans to “accelerate the pace of innovation”. The minority stake investments made by Nasdaq Ventures are expected to range from less than $1 […]
BNP Paribas Securities Services is partnering with AXA Investment Managers for the creation of a new digital fund distribution platform. Called BNP Paribas Fund Link, it aims to make the fund distribution process better by improving the flow of information between fund buyers and sellers via blockchain and smart contract technology. Jean Devambez, head of […]
India-based software vendor Intellect Design Arena is to provide its Intellect Quantum Central Banking System (QCBS) to Central Bank of Armenia.
Many have proclaimed that 2017 will be “the year of artificial intelligence (AI)”, with a 300% increase in investment in its technologies predicted compared with 2016. Start-ups with AI at the core of their business in particular will be looking to benefit from this surge in investment capital, as they did last year when 550 raised $5 billion in funding.
China’s Ant Financial Services Group appears to have beat back a surprise challenge by Euronet Worldwide to acquire MoneyGram. After raising its offer for the money transfer giant by more than one-third, to $1.2 billion, Ant’s bid has earned the approval of MoneyGram’s board of directors. But the deal still must win regulatory and shareholder approval before Ant officially acquires MoneyGram and gains a massive foothold in the global remittance market.
The recent performance of Zelle Network, the P2P payments platform with the funny name, is no laughing matter for competing P2P providers. Early Warning Services, a provider of real-time payments, authentication and risk mitigation services, announced April 17 that its Zelle Network processed more than 170 million P2P payments in 2016, totaling $55 billion in transaction value.
Moving accounts to Simple’s parent bank’s API is not that simple.
Italy’s largest retail bank, Intesa Sanpaolo, and EBA Clearing have successfully completed their first user testing activities on financial technology provider Dovetail’s solution for EBA’s pan-European real-time payment platform.
Fintech investment fell in 2016 for the first time. On the bright side? Banks are becoming much more active in the space, putting money in 61% more start-ups.
A year after diving into the campus card vertical with the $4.3 billion acquisition of Heartland Payment Systems, Atlanta-based technology provider Global Payments has unveiled its new TouchNet OneCard VIP service, which the company describes as a single point of access to campus life.
