Airtel Payments Bank, India’s “first” payments bank, has started national operations with services now live across the country. As Banking Technology reported in July 2016, telecoms giant Airtel was planning its own bank. It says it is a “fully digital and paperless” bank, and from today (12 January), over 250,000 neighbourhood Airtel retail stores across […]
HSBC will unveil a new payment app in Hong Kong in early 2017 aimed at millennials and offering a social aspect in addition to just payments. Called PayMe, it is “available to everyone in Hong Kong”, regardless which local bank the customer uses. However, the small print says it is only eligible to users with […]
The bustling UK challenger bank scene has grown by another addition, ClearBank. It is a brainchild of Nick Ogden, founder and former CEO of WorldPay.
Mobile-only challenger bank Monzo has revealed some witty conversations between its banking customer support team and customers. In an amusing blog post, the bank says its customer support team of around 17 people manage hundreds of queries on a daily basis in as “close to real-time as possible”. Some of these conversations struck a chord […]
FinTech Hive, to be housed at the Dubai International Financial Centre (DIFC) in Dubai’s Central Business District (CBD), is set to launch this quarter. Accenture runs fintech innovation labs in New York, London, and Hong Kong; and has been tasked with setting up and operating the accelerator. Aimed at providing better financial services technology to […]
India-based HDFC Bank is about to introduce its first “humanoid” branch assistant – Ira. The human-sized robot was built together with artificial intelligence (AI) company Asimov Robotics.
Commerzbank has developed the first digitalisation platform for small- and medium-sized enterprises (SMEs). Called “#openspace”, and located in Berlin-Schöneberg, it offers long-term co-operation between SMEs, “innovation partners”, and start-ups with the objective of “tackling the challenges posed by the digital future together”. Holger Werner, CEO and founder of #openspace, says “digitalisation dominates the media, sciences, […]
SunTrust Bank in Nigeria has renewed the contract with banking software vendor ICS Financial Systems (ICSFS) for its ICS Banks core banking system.
I was recently asked who the biggest winner would be to emerge post-PSD2, the banks or the fintech firms. If we ignore for a moment that the biggest winners are clearly you and I, the end consumer of these services, it did reveal an interesting thought process and dynamic at play.
Municipal Credit Union (MCU), a $2.5 billion credit union in New York, is implementing a new digital payments platform supplied by Payveris.
Capital One Spark Business has announced “strategic partnerships” with two fintech companies, Bill.com and Gusto. The aim is “to build and deliver better financial management, HR and cash flow tools designed for small businesses”, Capital One says.
Washington-based Industrial Credit Union has converted to a new core banking system, Keystone from Corelation.
Postfinance, the fifth largest retail financial institution in Switzerland, has suffered a 24-hour outage on its online banking service – and doesn’t know the exact cause. About 1.7 million customers were affected by a total loss of electronic banking on Sunday and Monday morning (8/9 January). On Monday afternoon, things were back to normal as […]
Malta’s Izola Bank has chosen Munich-based Finex Solutions to overhaul its digital banking services for retail and corporate customers. The bank will use the Finex Excellence Digital Banking solution, which supports internet, tablet and mobile banking. Andrew Mifsud, CEO of Izola Bank, says it has already “successfully implemented a mobile token solution provided by Finex” […]
Norway-based banking software provider Evry has signed a new five-year agreement with a domestic banking group, Fana Sparebank, to modernise its core banking and payments tech.
Australia’s ME Bank has signed a five-year deal with tech consultancy firm Capgemini to manage its core banking functions. ME Bank says it will still look after the design and security elements of the Temenos’ T24 core banking system, while Capgemini will provide a managed service for its infrastructure. In an interview with the Australian […]
Virgin Money plans to launch a digital bank – VMDB – and is now recruiting for a head of customer experience. As Banking Technology reported in November, 10x Future Technologies, the start-up founded by former Barclays CEO Antony Jenkins, is building a digital core banking platform for Virgin Money. The latter also signed a long-term […]
A group of senior executives in India’s digital sector are looking to create a group of chief digital officers (CDOs) or equivalent in the country.
Centenary Bank in Uganda has gone live with a new core banking platform, Profits, supplied by Intrasoft International.
Artificial intelligence (AI) interfaces and chatbots could be revolutionary for financial institutions – but only if they strike the right balance between human and machine interaction.
Banking Technology explores a less known – but a noteworthy – destination for fintech in Europe, Lithuania, and its capital Vilnius. Whilst it is realistic that it cannot compete with the European Goliaths such as London or Paris, it wants to carve its own niche in the fintech space, and has quite a lot to offer.
State Bank of India (SBI) is working on its own digital bank – SBI Digi Bank – which it plans to launch in the next three to six months.
Strategic, credit, operational and compliance risks remain “top concerns” for the financial services industry in the US, according to the latest report by the Office of the Comptroller of the Currency (OCC).
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! The first weekly news round-up of 2017. Happy 2017! Let it be a year of discovery and success.
S&P Global is selling trading solutions provider QuantHouse to one of its original founders, Pierre Feligioni. “The time is right for QuantHouse to regain focus and flexibility to exploit growing market opportunities in North America, Europe and Asia,” Feligioni states.
Idea Bank in Poland has launched “the world’s first pay-as-you-drive” car loan model – Happy Miles – with the payments calculated according to the travelled distance. A GPS device installed in the vehicle automatically sends the information about the distance covered to the lender.
Moldova Agroindbank (MAIB), a universal bank in Moldova, has completed a major upgrade of its core software. The bank, a long-standing customer of Temenos, has moved from T24 R08 to R15.
For some people in the world of fintech, they find comfort in the language of jargon. Pity these poor souls! Lost, confused and unable to communicate clearly and normally. Here are our top five jargon winners of 2016. You can avoid being on this list next year – just use English! CIBC ends phase one […]
MVB Bank, a $1.4 billion community bank in West Virginia, has signed for a new core banking system, Jack Henry’s Silverlake.
Pakistan-based Samba Bank Limited, a subsidiary of Saudi Arabia’s Samba Financial Group, has gone live with new core banking software, Temenos’ T24 (R15).
Infosys’ flagship core banking offering, Finacle, is live at Sunrise Bank in Nepal. Finacle ousted Temenos’ T24 core banking system (installed at the bank six or so years ago).
The Competition and Markets Authority (CMA) has found that Mastercard’s acquisition of VocaLink gives rise to competition concerns.
Nigeria-based Keystone Bank has selected the FraudGuardian solution from NetGuardians for protection from online banking fraud.
Turicum Private Bank in Gibraltar is live with new core banking software, Temenos’ T24. The system is delivered on Microsoft Azure cloud.
TBI Bank is implementing Provenir Cloud “for rapid risk decision-making and streamlined processing of customer applications”.
Look back at some of the top-read feature articles on all matters fintech published by Banking Technology in 2016.
Establishing if someone is who they say they are in today’s virtual world is a major headache for banks and fintechs, thanks to the strict regulations they operate under and the difficulty in providing non-physical, verifiable forms of identity.
Monese, a mobile-only bank founded by Norris Koppel, an Estonian expat in London, has raised $10 million in Series A funding round as it looks to go pan-European.
ICICI Bank goes for Twitter, while HDFC Bank banks on Facebook Messenger.
Bank Clearly, a new digital banking service, is being set up in the UAE. Clearly will offer account opening “in seconds, completely online”.
