UK-based high street bank NatWest (part of the RBS group) has trialled the BioCatch behavioural biometrics technology for business customers and is planning to pilot the solution for retail clients next year.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! FNZ to build new BPO centre EXCLUSIVE. For Société Générale’s private banking business Mizuho Bank gears up for new core banking system go-live Keen to modernise after large-scale system failures in 2011. Big three explore blockchain for consumer […]
Société Générale and Oberthur Technologies (OT) have teamed up to launch a new form of three-digital codes for improved card security. Following “successful” testing among more than 500 people, the solution – called OT Motion Code – replaces the three-digit security code usually printed on the back of the card with a mini-screen displaying a […]
ISITC Europe, a voluntary, non-profit organisation promoting operational efficiency, harmonisation and education in the capital markets space, will turn 25 years old on 26th January 2017.
The European Commission (EC) has set up a fintech task force as it looks to boost innovation in the region. Called the Financial Technology Task Force (FTTF), it brings together services responsible for financial regulation and for the “digital single market”, along with others dealing with competition and consumer protection policy. FTTF will be co-chaired […]
The “world’s first” peer-to-peer lender Zopa plans to launch a new digital-only bank in the UK. The application for a banking licence will be made to the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). The firm says the regulatory application process should take about 15-24 months. Jaidev Janardana, CEO of Zopa, says […]
There is little doubt that there is some very innovative work being carried out in the payments world. Digital technologies, including distributed ledger and artificial intelligence, are beginning to be applied to retail and corporate payments. But in the age of digital finance, a dinosaur of payments – cheques – persist.
OP Bank, Nordea and Danske Bank have launched a new real-time, multibank mobile payments platform in Finland. The platform was built by Tieto and Automatia (the latter operates the three banks’ shared ATM network).
SigFig, a San Francisco-based fintech start-up, is partnering with Wells Fargo to provide the bank’s clients with its robo-advisory tech and wealth management tools. A pilot version will be rolled out in H1 2017.
ClauseMatch and JWG have teamed up at the recent TechSprint event organised by the Financial Conduct Authority (FCA) to develop a new regulatory reporting solution.
FNZ, an investment management software specialist, is working on a major technology revamp at the UK-based private bank and wealth manager Kleinwort Benson, Banking Technology understands.
Where is India with the adoption of the eXtensible Business Reporting Language (XBRL) so far, and what is the outlook for the future?
Japan’s Mizuho Bank is going to move to a new core banking platform in early 2017, Banking Technology understands. The cost of the project is believed to be JPY 300 billion ($2.8 billion).
It’s blockchain infographics time!
Jordan Ahli Bank is live with new core banking software, Temenos’ T24. The go-live is a result of a four-year effort.
AmBank will be launching “a new phase of mobile banking very soon”, according to the bank’s new group CEO, Dato’ Sulaiman Mohd Tahir. The solution is provided by Backbase.
SETL, Deloitte and Metro Bank say they have completed “a series of firsts”. SETL provided a contactless smartcard for digitised payments (based on blockchain), Deloitte applied its Smart Identity blockchain ID system, and Metro Bank hosted a connected client account.
We take a look at the new EU reporting requirements for managing exposure to shadow banking. There are plenty of challenges ahead, not least for the systems that will need to be updated to ensure that firms are able to adequately cope with the new guidelines.
Our new series of thrillers – produced and directed by CustomerXPs and Banking Technology – narrate the tales of the fight between the forces of good (the Clari5 analytics and anti-fraud software) and the forces of evil. Based on real events and guaranteed to keep you on the edge of your seat!
South Korea’s Shinhan Bank is launching a Bitcoin remittance service between Korea and China, with Hong Kong as an intermediary. The service will be available in December.
City Union Bank (CUB) has become the first bank in India to introduce a robot to deal with customer queries. Called Lakshmi, the robot is based on the IBM Watson artificial intelligence (AI) engine.
Copenhagen Fintech, a collaborative venture between the Danish Bankers Association, Financial Services Union Denmark, and the City of Copenhagen, has officially opened for business.
Five Russian banks, including Sberbank and Alfa-Bank, have been hit by a major cyberattack, according to the country’s central bank and regulator, Bank of Russia.
US banking giant Citi is launching its own branded mobile wallet – Citi Pay – to take on rivals such as Android Pay, Samsung Pay and PayPal.
Cuscal, a major payments provider to Australia’s credit unions and smaller banks, has signed a deal with Apple to bring Apple Pay to its customers. The service will be available to nearly four million Australians that bank with 31 entities (which work with Cuscal).
Here is a boringly good guide to cryptocurrencies, courtesy of MBNA. It is not boring at all really!
UK-based Lloyds Banking Group is getting rid of further 49 branches and 665 jobs. The bank will offer services via mobile vans to the communities affected by the branch closures.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
The R3 consortium and ten of its member banks have developed a proof-of-concept (PoC) for a know your customer (KYC) registry “that addresses the challenges associated with satisfying KYC requirements and allows identities to be managed by their owners”.
The European Commission (EC) has pledged up to €400 million to the European Investment Fund’s (EIF) new fund-of-funds – for the money to be spent on start-ups in Europe, including in the fintech space. The EC will also look for three times more investment from institutional investors to make up to €1.6 billion available.
Wolters Kluwer has implemented its flagship OneSumX solution at Mizuho Bank’s subsidiary in the Netherlands. The solution supports risk calculations and multi-country regulatory reporting.
PayPal is bringing its users “an early holiday present” – the integration of Siri into PayPal.
Nordea has announced it now can handle the Swift MT798 messaging in a fully automated manner. MT798 facilitates corporate-to-bank (C2B) and bank-to-corporate (B2C) communication for the processing of documentary credits and guarantees.
Citi and Deutsche Bank have joined Neptune Networks, an open-standard network for bond pre-trade real-time AXE indications. The have also taken stakes in the venture and joined its board.
Parth Desai, CEO and founder of Pelican, discusses why artificial intelligence (AI) is already fact not a fantasy, but cautions that we need to be realistic about what can really be achieved on the journey to true AI adoption in transaction banking and payments.
Tesco Bank has refunded £2.5 million to 9,000 customers who had money stolen from their accounts by fraudsters over the weekend. It has also resumed “normal services” following the temporary suspension of online transactions from current accounts .
Swedish trading technology specialist Cinnober is spinning off its real-time clearing business into a separate subsidiary. Cinnober currently provides this service – known as “client clearing” – to large international banks and is keen to grow the business.
Israel’s Bank Leumi is gearing up for the launch of its new digital banking subsidiary, Pepper. It is expected to open its virtual doors for business before the end of 2016. The tech is provided by Temenos.
Italy’s largest retail bank, Intesa Sanpaolo, is working with Gemalto to deliver PIN codes to customers via SMS, web and mobile banking app. Gemalto describes the project as “the world’s first comprehensive e-PIN notification service”.
Intelligent Processing Solutions (iPSL), a UK-based cheque clearing firm owned by Unisys, plans to close down seven of its nine locations in 2018. This puts 600 jobs at risk, according to trade union Unite.
