Banking Technology Magazine April 2022 issue out now
Cover story: WINDS OF CHANGE – Tackling the carbon cost of technology.
Welcome to the April edition of the Banking Technology Magazine, brought to you by FinTech Futures!
Core banking solutions have been in the spotlight over the last month, with a number of notable renovation projects and also M&A activity.
Yobota, a challenger core banking software vendor in the UK, has been acquired by local digital bank Chetwood Financial. The bank is among a handful of users of Yobota’s tech and says the acquisition will enable it to offer a full Banking-as-a-Service (BaaS) product.
In a similar move, another UK financial services player, Oxbury Bank, has acquired its core banking tech provider, Naqoda. Launched in 2021, agricultural bank Oxbury is the only known core banking tech client of Naqoda (which unveiled its core system in 2017). The acquisition comes hot on the heels of Oxbury’s Series C funding round, which closed recently at £31 million.
Meanwhile, in the US, banking tech heavyweight Fiserv has just completed the acquisition of Finxact, a start-up core banking system provider. Finxact came with a price tag of $650 million and around ten clients.
In Ireland, An Post (the state-owned provider of postal services) is looking for a banking platform service provider to support its current account offering.
In the UK, system selection is underway at the UK Infrastructure Bank (UKIB), a new government-owned ban. UKIB is looking for software to support the end-to-end banking process across loan origination, portfolio management, risk and compliance, treasury, and finance.
In Jordan, Al Rajhi Bank Jordan is embarking on front-to-back office modernisation with ICS Financial Systems (ICSFS) and its ICS Banks Islamic system. The selection was made following an international tender.
Waafi Bank in Malaysia and Union Bancaire pour le Commerce et l’Industrie (UBCI) in Tunisia tare implementing the Flexcube core banking software supplied by Oracle FS. The latter is the first taker of Flexcube in Tunisia.
We are also highlighting various core banking renovation projects from around the world in this issue’s Editor’s Choice section (see p7).
There’s lots more on the pages of this edition, including the top news, punchy opinions, food for thought, and expert analysis. We hope you find it interesting, informative and useful.
CLICK HERE TO READ THE FULL EDITION OF THE BANKING TECHNOLOGY MAGAZINE APRIL 2022