Orange buys Groupama for 2017 mobile bank launch

Orange has made a significant stride in mobile banking by acquiring a majority stake in financial services firm Groupama, reports Tim Skinner at Telecoms.com. The French mobile operator has confirmed it has acquired 65% of Groupama shares, will be launching a 100% mobile banking service in early 2017. By acquiring Groupama, Orange will be gaining an extensive […]

National Bank Holdings calculates core software overhaul at $3.7 million

National Bank Holdings (NBH), a US-based holding company of a group of local community banks, has gone through a major technology overhaul with FIS. The group, which comprises three banks, has implemented FIS’s core banking system, IBS, online and mobile banking applications and a cheque imaging system, Check Image. In its latest quarterly results, NBH […]

MasterCard closes in on £1bn VocaLink acquisition

MasterCard is in “exclusive” talks with VocaLink over a £1 billion-acquisition, according to Sky News. Sky News says it has learned that 13 banks, which are shareholders in VocaLink, have “approved a period of exclusivity within which MasterCard can negotiate a takeover of the company”. Out of those banks, Barclays, HSBC, Lloyds Banking Group and […]

Fidelity Bank completes latest acquisition; IT conversion to follow

US-based Fidelity Bank will move its latest acquisition, American Enterprise Bank of Florida, onto its core banking system, Fiserv’s DNA, from FIS’s Horizon. American Enterprise Bank added $209 million in assets, $147 million in loans and $182 million in deposits to Fidelity Bank. It also brought two branches in Florida. The bank’s Horizon core banking […]

Lloyds to cut 625 jobs

Lloyds Banking Group is to cut 625 jobs – as it continues another wave of its 9,000 job reductions announced a few years ago. Lloyds says there will be a net reduction of 430 roles once the 195 new jobs it will be creating are taken into account. News of the planned redundancies was greeted […]

Masthaven receives UK banking licence; implements new core system

Masthaven Finance, a UK-based specialist mortgage lender, has joined the “challenger banks” rush and secured a banking licence. It plans to open for business this summer. The new bank will offer mortgages and savings products to retail customers who struggle to get service from mainstream banks and lenders. These products will include specialist mortgages and […]

UK’s Financial Conduct Authority selects Sopra Steria for new regulatory platform

Paris-based Sopra Steria has been selected by the UK’s Financial Conduct Authority (FCA) to deliver a new digital regulatory market data processing platform in an “exclusive” six-year contract. The new platform will support the FCA’s on-going regulation of firms, as well as encompassing new requirements under the forthcoming Markets in Financial Instruments Directive (MiFID II). […]

Top fintech stories this week – 22 April 2016

Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Corelation’s Keystone core system reaches 50 users All aboard for US-based credit unions. Citizens Bank plans core banking revamp with FIS Bank is also looking at a new mobile platform and middleware layer. Scotiabank invests millions of dollars […]

Temenos’ Q1 2016 software licensing revenue up 51%

Temenos has revealed IFRS (international financial reporting standards) total software licensing revenue of $38.9 million in Q1 2016; and non-IFRS total software licensing revenue of $39.2 million – up 51% from Q1 2015 on a reported basis and 53% in constant currencies. Temenos CEO David Arnott says this shows financial institutions “continue to embark on […]

Moni goes into receivership

UK-based payments firm Moni has gone into receivership. Moni says its business and assets are being marketed for sale; and joint administrators have been appointed. If people have queries or are “owed money”, Moni is directing them to an advisory service. The firm did offer a mobile payment app for iOS and Android – similar […]

Corelation’s Keystone core system reaches 50 users

US-based software vendor, Corelation, has onboarded 50 credit unions for its flagship Keystone core system. Keystone is a much newer system than most of its rivals, having hit the market just seven years ago. Corelation has also recently moved to a new head office in San Diego, California, to an office space four times bigger […]

Citizens Bank plans core banking revamp with FIS

US-based Citizens Bank is planning a core banking modernisation. The bank is looking for a programme director, to be based in Rhode Island, for the upgrade of its core banking platform and to implement a new mobile platform and middleware layer. Citizens, which was a wholly owned subsidiary of the UK’s RBS from 1998 to […]

Swift Business Forum London 2016: Open banking touches a nerve

Financial institutions are still nervous about APIs and security when the word “open” is discussed, was one theme from the Swift Business Forum London 2016. More than 1,300 delegates were packed into Tobacco Dock, London for the sixth edition of the one-day event. Yesterday morning’s sessions (20 April) were a mixed bag – “blockchain is […]

Viewpoint: The Gamification of Financial Services

Gamification is not new, but new entrants are showing that injecting the right mix of fun and rewards into financial education can reap dividends for consumers and financial services providers seeking to engage their customers.

Viewpoint: Fintech: The Great Equalizer

We’re bombarded daily with reports that fintech firms are poised to eat the banks’ lunch. The drumbeat is so loud and steady, it’s hard not to fall into the trap of thinking that banks’ best days are behind them. But, I believe the proliferation of fintech solutions presents a remarkable opportunity for small and midsize financial institutions.

When banks leave the front door open

Cyber attacks against the banking industry have soared in the last few years. And financial institutions now face 300% more attacks than any other industry. Comparatively with other industries, the financial services industry isn’t shy where it comes to cyber security investment and generally has a superior level of protection. But this attracts a more […]

Spring 2016 Pay Magazine Now Available

The digital edition of the Spring 2016 issue of Pay Magazine is finally here. Whether you’re a technology provider, a financial services company or a retailer, you have to reconcile consumers’ on-demand mentality with top-notch security and compliance at every consumer touch point. In this issue, we help you do just that.

Infosys’ Finacle core banking system gains first taker in Myanmar

Asia Green Development (AGD) Bank, one of the first commercially owned banks in Myanmar, is automating its ops with Infosys’ Finacle core banking system. This is Infosys’ first core banking system client in Myanmar. The system will support all main operations of the bank, front-to-back office, including online and mobile banking. Finacle will oust a […]

Bermuda Commercial Bank goes live with new core banking system, Temenos’ T24

Bermuda Commercial Bank (BCB) has gone live with Temenos’ T24 core banking system (R13). The bank has also implemented Temenos’ business intelligence and analytics tool, Insight, and an AML solution. Sofgen, a Switzerland-based specialist IT consultancy and integration firm (now part of Tech Mahindra), carried out the implementation. The project was 18 months in the […]