Customers of Lloyds and Bank of Scotland have reported a host of payment processing problems as UK banks yet again fail to deliver banking services. In the repellent realm of Twitter, some users reported that wages weren’t paid at the end of the month. With the processing system down, bosses couldn’t pay their staff and […]
We did say there will be no quiet days. Coming straight after yesterday’s (29 November) action, we bring another payments round-up. Features Interac, nanopay, Remitr, ADGM, Nordea, Nets, Facebook and Amazon.
Quickly following on from Tuesday’s (28 November) funding round-up, here are more stories from a cash-drenched world. Features 1QB Information Technologies, FinTecSystems, Betalo, Nordea and Constellation Digital Partners. 1QB Information Technologies (1QBit), a quantum computing firm based in Vancouver, has closed a CA$45 million ($34.9 million) Series B round comprising equity and revenue contracts. This […]
Société Générale has unveiled plans to cut costs and push itself forward towards digital banking – translation: the closure of branches and job cuts in France by 2020.
The UK trade union Unite has revealed that Lloyds has informed staff it will be closing another 49 branches of the Halifax, Bank of Scotland and Lloyds, resulting in 99 job losses. Rob MacGregor, Unite national officer, says: “Having returned to profitability Lloyds needs to stop ignoring its corporate social responsibilities. Just over six months […]
FIS has unveiled Code Connect – an online gateway that allows its clients and third-party developers to access FIS APIs for use in developing and testing new solutions. With APIs more popular than free alcohol at a fintech conference, FIS joins the masses seeking to capitalise on the API fever. Code Connect includes more than […]
German digital account exchange provider FinReach has expanded into Austria and Spain – meaning its service is now used by over 500 banks in three countries. In Austria, FinReach has partnered with, amongst others, banking group Raiffeisen Austria, which includes 434 banks and has 1.7 million customers. In terms of the Spanish market, Self Bank, […]
Who can not get enough of top ten lists? This latest infographic shows the top ten benefits of the SEPA Instant Credit Transfer scheme.
To reap the real benefits of technology, treasurers should be thinking about an extended journey, not a day trip.
Technology is having a tremendous impact on the way communities shop so changes are more or less expected as we see these shopping mall operators push back on so many dire predictions being made about them. But can they change and yes, could these changes lead to a greater overlap with banking as it exists today? Do we even need differentiation between the two and yes, will they both be able to keep us satisfied when it comes to access to our cash?
It’s been a good year for banks as in a first since the launch in 2014, the (BoE) reveals that no bank needed to strengthen its capital position as a result of its latest stress test.
Sprechen Sie Deutsch? Switzerland’s PostFinance has unveiled a German language virtual assistant on its website – generating automatic replies to customers’ most frequently asked questions. PostFinance, keen to tap into the fintech zeitgeist for artificial intelligence (AI), says it’s the “first Swiss financial institution” to launch such a chatbot. It was developed by the IT […]
Nordea’s start-up and growth unit has unveiled a new partnership agreement with Nordic Business Angel Network (NordicBAN), a network of start-up investors in the Nordics and Baltics.
BehavioSec has partnered with identity management firm Crossmatch in a deal that will add keystroke capture to Crossmatch’s composite authentication platform, DigitalPersona, reports David Penn at Finovate (Banking Technology’s sister company). “We selected BehavioSec’s platform because they are singularly focused on behavioural biometrics and have well-established and proven technology that already serves more than 35 million end […]
Digital wallet provider Memento working with Icelandic bank Islandsbanki has deployed a new service to allows users to create money pools for others to chip in, privately or publicly.
Erste Bank und Sparkassen with its “George Go” app has become Austria’s first mobile payment wallet based on host card emulation (HCE) technology, powered by G+D Mobile Security’s Convego CloudPay solution.
Mastercard and Clydesdale and Yorkshire Banks (CYBG) have unveiled a seven-year agreement that allows for all CYBG debit, credit and commercial cards to use the Mastercard network.
BBVA, working in collaboration with Wave, performed the first blockchain-based international trade transaction between Europe and Latin America.
Blue Creek Credit Union (BCCU) in Belize is implementing a new core processing system, Universa, supplied by Canadian banking tech vendor SmartSolution.
In a move to attract the tech generation to branches, Singapore’s DBS has launched a “lifestyle space” providing freshly brewed coffee, interactions with humanoid robots and a virtual reality (VR) area for retirement planning.
Malaysia’s largest bank, Maybank, has unveiled its facial and voice recognition authentication for its customers accessing their Maybank accounts using its Maybank2u app.
De Volksbank, a retail and SME bank in the Netherlands, has migrated over 122,000 investment accounts to Ohpen’s core banking platform.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Validata has inked a deal with a large US bank to deliver quality assurance for the bank’s Temenos T24 core banking transformation project. Banking Technology understands this is Commerce Bank.
UK-based challenger bank Starling is taking the battle to lenders after being granted a contract allowing for a big push into wholesale banking in Europe.
Canada-based Integris Credit Union has deployed Validata’s suite of products to support its transition to Temenos’ T24 core banking system.
Through increasing functionality and by consistently pushing boundaries, super apps could have the power to influence, shape and even redefine m-commerce of tomorrow. Tom Wood, co-founder and managing partner of experience design agency, Foolproof, shares his insight on the opportunities that super apps could bring to m-commerce.
ING Wholesale Banking has set out its plans to increase investments in data analytics and put more resources into Asia and the Americas. It’s very early days as its ambitions and goals offer no real specifics. Stats and timelines are like good service in shops in the UK – i.e. almost nowhere to be seen. […]
Standard Chartered and Axis Bank have unveiled a real-time cross-border payment service for corporates using Ripple’s distributed ledger technology (DLT) solution. This offering is now commercially available between Standard Chartered (Singapore) and Axis Bank India, and, accessible through Standard Chartered’s corporate digital banking platform, Straight2Bank. Himadri Chatterjee, president, transaction banking, Axis Bank, says by using […]
Commercial Bank of Ceylon (Combank), a long-standing user of Fiserv’s Signature core banking system, is now extending the vendor’s tech to the front office.
In an exclusive interview with payment specialist Volante Technologies, Nadish Lad, director – head of payments product, explains the firm’s foundation, vision and its key unique selling propositions (USPs).
From major crimes to KYC times. Our latest blockchain and Bitcoin round-up features Tether, Metal, Deutsche Bank and IBM. Digital currency firm Tether is feeling under the weather as it has reported that “funds were improperly removed from the Tether treasury wallet through malicious action by an external attacker”. The amount is a rather large […]
This is becoming a regular fixture in the UK, as yet again British banks are reporting online banking problems. In the latest glitch, customers of NatWest, Royal Bank of Scotland (RBS) and Ulster Bank have been hampered by the outage. The trio say they are “aware of some issues” with their online banking services. Customers […]
Digital sales and engagement firm Configo is taking its technology to the cloud. The company is making its Live Experience Platform – which gives FIs the ability to create customer-centric, personalised digital experiences – available as a Software-as-a-Service (SaaS) solution, reports David Penn at Finovate (Banking Technology’s sister company). Until now, Configo’s platform was installed on-premise. The new cloud […]
The Single Euro Payments Area (SEPA) Instant Credit Transfer (SCT Inst) scheme created by the European Payments Council (EPC) is now operational. As of today (21 November), the EPC says nearly 600 payment service providers (PSPs) from eight European countries are offering instant payment solutions based on SCT Inst. It was launched last year, with […]
Fenergo says its flagship Client Lifecycle Management (CLM) solution has been selected by BNP Paribas “as part of its global transformation project”.
Spanish bank IberCaja has implemented and integrated Meniga’s digital banking solution into its core systems for real-time customer data processing. According to Meniga, it is the first personal finance software provider that IberCaja has partnered with as part of its digital revamp. Victor Iglesias CEO at IberCaja, says the agreement is an “important milestone in […]
Wealthtech is coming to the UK high street as Royal Bank of Scotland (RBS) has launched a robo-advice service for around five million customers under its NatWest brand. The service will be available for clients with a minimum of £500 to invest. The total cost of advice, investment and platform fees will be at 0.95%. […]
Fiorano Software, a specialist in integration middleware and API management, has launched Fiorano PSD2, a solution enabling banks to comply with the European Union’s PSD2 regulations.
Namibia’s EBank has achieved digital transformation of services with Fiorano’s core banking integration. Fiorano Enterprise Service Bus seamlessly integrates EBank’s Temenos T24 core banking system with third party suppliers and channels facilitating its vision of financial inclusion.
