EDI challenges NYSE corporate actions monopoly
Exchange Data International (EDI) says it has broken the NYSE corporate actions monopoly with its launch of a “like-for-like service at less than 50% of the redistribution costs charged by NYSE”.
FinTech
ICSFS signs new core banking system deal in Iraq with Al-Thiqa Islamic Bank
Al-Thiqa Islamic Bank, a banking start-up in Iraq, has opted for the ICS Banks Islamic system from ICS Financial Systems (ICSFS).
The Monday Mindset: 18 September 2017
Fintech zeitgeist! This week Liz Lumley shares tips on how start-ups should speak to the press.
Viber Brings Good Vibes to Addiko Bank’s Chat Banking Payments
Austrian banking group Addiko has unveiled chat banking for its customers—the “first ever” Viber-based financial transaction service available in Croatia.
Corporate banking: work smarter, not harder. On user self-onboarding
Why would a bank let their corporates indulge in setting up system privileges online – without keeping close tabs on the process? Here’s why.
Big Xyt going trading places with new data analytics hub
Big Xyt, a smart data and analytics provider, has unveiled its new hub for trading firms to integrate tick data and analytics via a single API. According to the firm, the Xyt hub allows companies to consume, analyse and visualise data through cloud-based technologies, featuring Data-as-a-Service (DaaS) and nice Analytics-as-a-Service (AaaS) functionalities. Bats has signed […]
Common Cents Lab unveils millennial financial regret spending report
If you’re trying to cater to millennials, you need to understand how they think and feel about money.
AI is starting to get seriously smart, perhaps worryingly so
We’ve seen a couple of artificial intelligence (AI) shout-outs this week with Microsoft targeting telcos’ worryingly poor customer service record and European scientists potentially creating the building blocks for Skynet, reports Telecoms.com (Banking Technology’s sister publication). Starting in the Microsoft offices, the team has paired up with Amdocs to provide an intelligent solution to one […]
Digiliti Money Filing Reveals Deal Progress
Digiliti Money (DGLT) may have gotten knocked down, but it’s not out. And neither is a revised bid from prospective buyer Urban FT.
Fintech funding round-up: 13 September 2017
Quickly following on from the fintech funding round-up on 11 September, here’s more action in a concise form. Features InfoSum, Neyber, Goldman Sachs, Forward Partners and BlackRock. Data tech start-up InfoSum has added $5 million to its seed funding, taking the total raised to date to $8 million. Joining existing investors Mark Suster (Upfront Ventures) […]
Has the face of payments changed forever?
Marieke Flament, European MD at Circle, discusses how technology is transforming the global payments landscape.
National Bank Investments signs for FactSet’s risk management tech
National Bank Investments (NBI), a subsidiary of National Bank of Canada, has opted for FactSet’s multi-asset class risk model, workstation, and analytics suite as its investment risk management and manager due diligence system.
Infographic: Banking in Europe 2017
Banking by the numbers in the EU, with key facts and figures from the European Banking Federation, including stats on which fintech is getting the love from big banks.
Q2 launches CardSwap with Chime Banking
Digital banking technology company Q2 Holdings Inc. took the Finovate stage to demo its CardSwap technology.
R3, RBS and UK regulator build regtech prototype for mortgages
Enterprise software firm R3, the UK’s Financial Conduct Authority (FCA), RBS and another unnamed bank have built a prototype application for regulatory reporting of mortgage transactions on R3’s Corda distributed ledger technology (DLT) platform. The application is also able to generate automated delivery receipts for the regulator when a mortgage is booked. The application was […]
Santander revamps corporate client onboarding with Fenergo
Client lifecycle management (CLM) software vendor Fenergo has landed a deal with Santander Global Corporate Banking – to revamp its client onboarding process. Fenergo CLM will be rolled out to Santander’s operations in Europe, Asia and the Americas, across multiple business lines.
Payments funding round-up: 12 September 2017
Pineapple Payments announced a $35 million equity investment for its merchant-focused payments technology, PayJoy snagged $6 million while B2BPay won BBVA’s Open Talent Global Fintech for Companies competition.
Payments: where have all the correspondents gone?
At the recent G20 meeting in Germany, Financial Stability Board (FSB) briefed leaders on its efforts to arrest the decline in correspondent banking relationships. FSB also presented the results of a survey of more than 300 banks in 50 countries, supplemented by Swift payments data, which showed that the number of correspondent banking relationships continues to decline globally.
Fintech funding round-up: 11 September 2017
Money is the honey keeping fintech sweet. Our latest funding round-up features Linxo, Rubique and TNG. French start-up Linxo, which offers a budget management app, has raised €20 million from Crédit Agricole, Crédit Mutuel Arkéa and MAIF (a mutual insurance firm) – bringing the funds raised since its launch to €23.2 million. MAIF is a […]
Fintech Roundup: B2BPay, PayJoy & Pineapple Payments
Fintech startups continue to make headlines with investments and accolades. Pineapple Payments announced a $35 million equity investment for its merchant-focused payments technology, PayJoy snagged $6 million while B2BPay won BBVA’s Open Talent Global Fintech for Companies competition.
The Monday mindset: 11 September 2017
Fintech zeitgeist! Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye. This week, Tim Rogers, engineer at London-based start-up GoCardless, asks do we need to kill screen scraping? If you work in this industry you’ll […]
The Convergence of Prepaid and Fintech Means More Innovation to Come
After his first few months at the helm of the Network Branded Prepaid Card Association, Brian Tate talks about prepaid’s role alongside fintech in the next generation of payments innovation.
Square wants to be a bank, sort of
Mobile point-of-sale pioneer Square Inc. is applying for an Industrial Loan Company (ILC) charter to support the expansion of its lending business, the volume of which grew 68 percent year-over-year in Q2 to $318 million.
Fears about AI are a load of rubbish – Capgemini
Capgemini has roared into the artificial intelligence (AI) battle with new research which claims the human cost of automation is a myth, reports Banking Technology’s sister publication Telecoms.com. There might be a few people who will raise concern over such a claim, but in a survey of almost 1,000 organisations with revenues of more than […]
MoneyGram Expands MobilePass to 35,000+ Locations
The U.S.’s No. 2 remittance provider is expanding its MoneyGram MobilePass service to its entire U.S. network of 35,000 agent locations.
Former Citi Vice Chairman Lewis Kaden Joins Baton Systems Advisory Board
Baton Systems, an on-demand platform for clearing, settling and managing payments between financial institutions, has appointed former Citigroup Vice Chairman Lewis B. Kaden to its advisory board.
Fintech funding round-up: 7 September 2017
The fintech funding is on fire. Following on from yesterday’s (6 September) action, here’s another round-up. Features ABN Amro, Cloud Lending Solutions, Dataiku, EY and Innovate Finance. Amsterdam-based ABN Amro has made an undisclosed investment in US-based Cloud Lending Solutions (CLS) – the second by the bank’s Digital Impact Fund (DIF) and in line with […]
The future of cross-currency payments
The landscape of cross-currency (FX) payments is taking on a whole new look – creating challenges for corporate financial managers and the need for new banking solutions.
Fintech funding round-up: 6 September 2017
Wake me up when September sends a fintech funding round-up. Features Deutsche Börse, RegTek.Solutions, Finaeo and Now Money. Deutsche Börse and Illuminate Financial Management have co-led in a $5 million Series A funding round in RegTek.Solutions, a regulatory reporting solutions provider. As reported last month, the Regulatory Reporting Hub of Deutsche Börse launched a partnership […]
Lloyds Bank’s new bookkeeping service is a keeper
Lloyds Bank has launched a new service to help businesses manage their bookkeeping without manual intervention. Called Lloyds Bank Direct Bank Feed it allows clients to receive their statement information directly into their accounting software – “eliminating the need for businesses to manually input their bank statements and reduce the time spent reconciling accounts”. Steve […]
WhatsApp mulls business revenue stream
Facebook-owned IM service WhatsApp reckons it might finally be able to make some money by charging businesses for clever access to their punters, reports Telecoms.com (Banking Technology’s sister publication). Apparently quite a lot of people already use WhatsApp around the world to interact with shopkeepers and other relatively simple business transactions such as placing orders, […]
Nasdaq buys analytics provider eVestment for $705m
Nasdaq will acquire eVestment, a content and analytics provider used by asset managers and investment consultants, for $705 million funded through a mix of debt and cash on hand. According to Nasdaq, eVestment provides investors a database for both traditional and alternative strategies, including 2,800 individual data points on more than 74,000 investment vehicles. eVestment […]
Be honest about digital transformation, it’s a risky business – BT Security CEO
The risks are big, but the opportunities are even bigger; that’s why only the bravest are making the most of the digital economy to date.
Funding Circle Joins CFSI
Small-business lending platform Funding Circle has become a Financial Health Network member of the Center for Financial Services Innovation.
Winners’ Showcase: 2017 Pay Magazine – Awards Issue Is Here
The wait is over. The 2017 Pay Magazine – Awards Issue is here. In this special issue, you’ll find out more about the programs, companies and two individuals that walked away with top honors from this year’s competition.
Top 5 Best Challenger Banks: Spotlight Profiles
Our Top 5 Challenger Bank spotlight series is complete. Get to know the challengers—Cashplus, Varo Money, Revolut, Capital on Tap and Fidor Bank—looking to shake up the status quo with tech and a superior customer experience.
The Monday mindset: 4 September 2017
Fintech zeitgeist! This week Loraine DeBonis, editor-in-chief of Banking Technology’s sister site Paybefore, muses on all the money changing hands in the payments industry.
BCBS ponders implications of fintech developments, calls for public feedback
Basel Committee on Banking Supervision (BCBS) has published a report, “Sound practices: implications of fintech developments for banks and bank supervisors”, and is asking for public feedback until 31 October 2017.
Fintech: why commercial banks must follow retail banking’s lead
It’s been seen as the ultimate clash of cultures. The baseball cap and T-shirt versus the formal suit and tie; the young, quick-thinking fintech versus the risk-averse multinational corporate; David versus Goliath.
Banking Technology September 2017 issue out now
Welcome to fintech central! Good service operating on all lines. The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
