Citigroup to cut 20,000 jobs over two years after Q4 downturn
The bank is anticipating run rate savings of $2 billion as a result of the cuts.
BankingTech
Canada’s Vancity names Wellington Holbrook as president and CEO
Holbrook takes over from Nez Aquino, who has served as interim CEO since July 2023.
Commerzbank forms joint venture with Global Payments for SME payment solutions
The new joint venture, Commerz Globalpay, is expected to launch in H1 2024 and will be based in Frankfurt.
JP Morgan Chase-owned WePay reportedly offboards a number of business clients
JP Morgan Chase bought WePay back in 2017 in a $400 million deal in a push to compete with Stripe.
US-based Citizens State Bank taps Revio to fuel customer growth
The bank will adopt the Revio platform to tap customer expansion opportunities.
Millennials and Gen-Z embrace digital banking and “mobile-first” payment mindset. Could that be a problem?
Consumers need to be clear on what constitutes proper – as well as improper – use of mobile banking and payment platforms.
ICYMI fintech funding round-up: KlariVis, Komunal, Maalexi, Cleva & CSI
A handy round-up of the recent funding endeavours of fintech companies across the globe.
One core to rule them all – part one
For banks, what would the ultimate core look like?
Redwood Capital Bank selects Apiture to power online and mobile banking
The bank will deploy Apiture’s digital platform to expand beyond branch and telephone-based banking.
2023 Mobile Banking Heists Report
29 malware families targeting 1,800 mobile banking apps – an essential read for those at the forefront of combating threats on the mobile platform.
Zimbabwe’s Success Microfinance Bank taps FinOS for core banking
The bank has partnered with FinOS to access its composable banking capabilities and increase operating ability.
More than words
Fintech has become one of those terms that people throw around to mean… whatever…
Credit union FirstOntario readies for Canada’s open banking push with Flinks and Everlink
The partnership is in anticipation of Canada’s 2025 rollout of open banking.
Specialist neobank Panacea Financial names Ryan Gorney as new CTO
Gorney joins the company from Seacoast Bank, where he served as EVP CTO and chief innovation officer.
Being a radical thinker: how to inspire meaningful and sustainable change
It’s not easy to drive change in a corporate world that rewards convention.
Security Bank of Kansas City selects NCR Atleos to manage ATMs
The agreement will see the bank adopt its partner’s ATM-as-a-Service and ITM-as-a-Service offerings.
Blue Federal Credit Union partners Cotribute for digital account opening platform
Cotribute says it was able to launch digital account opening for new and existing members “in just 30 days”.
New Year’s resolutions
We are uniquely placed to influence the application of tech and maturation of regulation. Go out there and do good.
JP Morgan and Viva Wallet reportedly collide over board appointments
JP Morgan acquired a 48.5% stake in Viva Wallet in December 2022 for $800 million.
Effective risk management can boost supplier relationships and uncover new providers
Learn how KY3P from S&P Global Market Intelligence can help manage supplier risk and identify new sources of supply.
Banking veteran Mary Usategui set to launch new venture BankMiami this year
Scheduled to arrive in Q2 2024, it will be the first de novo bank to be established in South Florida in 15 years.
Oshkosh Community Credit Union taps Sharetec for core processing solution
Wisconsin-based OCCU says the decision follows “an extensive search” for a new core partner.
2023: Top five core banking deals
FinTech Futures recaps five of the top core banking deals of 2023.
A visit to a data centre, quantum computing and how lentils determined COP28
Data centres aren’t going away, and we’ll likely need more as we head into our collective digital future.
Beem Credit Union appoints Sue Britton as chief innovation officer
Beem Credit Union will launch on 1 January in Canada with the merger of Gulf & Fraser and Interior Savings.
Fast fashion and APIs (or why I don’t enjoy new year predictions)
The predictions we make at year-end are simply acknowledgements of what is top of mind.
CSI snaps up partner Hawthorn River for single-platform loan origination system
CSI initially struck a partnership with Hawthorn River in October to utilise its tech.
Ncontracts snaps up Quantivate for an undisclosed sum
Ncontracts hopes to strengthen its position in the US market and expand its offerings.
Central Bank of Colombia partners ACI Worldwide for real-time payments system
The central bank will leverage the partnership to launch a real-time payments ecosystem in 2025.
First Bank taps Backbase for engagement banking platform
First Bank’s Bala Nibhanupudi says it’s “the final step in our years-long digital transformation journey”.
InvesTex Credit Union selects Bankjoy for digital banking upgrade
InvesTex Credit Union says all its members will have access to Bankjoy’s digital banking platform.
Credit Union of Texas taps Alkami for business banking platform
Eric Pointer, president and CEO of CUTX, says the partnership will enable it to serve an untapped market.
Merry Core-istmas, it’s been a core-azy year
A new phase of core banking has started, and there is more work to be done.
Video: Highlights from the Banking Tech Awards 2023
Watch the highlights from an incredible evening celebrating the best and brightest in banking technology and fintech.
Guide: Security best practices for PostgreSQL
In the financial industry, customer trust is everything. Don’t let your database be your brand’s weak point!
Guide: Banking and financial services – 7 critical success factors for moving to open source databases
Discover the key factors that can ensure your success as you plan your move to an open source database like Postgres.
The CIO’s guide to operational resiliency in financial services: 3-step approach to strengthen your database
Discover how database stability and resiliency are helping banks and financial institutions lower risk.
US Eagle FCU partners Lumin Digital for digital banking
The New Mexico-based credit union has struck a multi-year deal with Lumin Digital.
Times of stress
The stresses of financial services have changed, proliferated and shifted, but never lifted.
Goldman Sachs reportedly names Paul Camp as new head of transaction banking
Camp previously served as head of global treasury management at Wells Fargo.
