Law firm Addleshaw Goddard (AG) is launching the AG Elevate programme – worth up to £500,000 – to support the UK fintech firms. The application process will open on 17th November 2016 – more established firms as well as start-ups are welcome to take part, AG says.
Wipro has unveiled its Open Banking API Platform as its “expects a large number of banks and financial institutions to adopt open banking initiatives to conform with evolving banking regulations, meet customers’ digital expectations, and stay ahead in an increasingly competitive fintech industry”.
Where do major US banks and FIs place their digital adverts and how much they spend on these? We look at the digital marketing habits of Citigroup, Capital One and Chase (data courtesy of Pathmatics).
Eight start-ups and scale-ups in wealth management, regtech, artificial intelligence (AI), payments, big data, blockchain and cybersecurity are to take part in SuperCharger FinTech Accelerator 2.0.
Byte Academy has unveiled its first international campus with programmes in fintech, data science and Python full-stack development. The new campus is based in Singapore, supported by Standard Chartered Bank, IBM, Thomson Reuters, Microsoft and the Insead business school.
India-based A.P. Mahesh Co-operative Urban Bank is looking to upgrade or replace its legacy core software technology provided by domestic vendor Infrasoft Technologies.
Kasikornbank (Kbank), one of the largest banks in Thailand, is exploring blockchain with IBM, “to save costs and speed up transactions”, the two companies say. The services will be launched in H1 2017, to certify the letters of guarantee (LCs).
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
There has been a tremendous amount of excitement and discussion about the potential of blockchain technology to transform the financial services industry and beyond. But the only thing that is clear at the moment is that there is still a lot of work to be done to implement wide scale use cases, clear up any regulatory uncertainly or barriers and educate institutions and employees about the technology and its potential.
Amidst tightening regulations, the latest hack of the Bitfinex Bitcoin exchange has highlighted ongoing difficulties for the sector. Bourn Collier, associate, and Oliver Yaros, senior associate at Mayer Brown International LLP, explore. A few years ago media reports in Britain drew attention to the unfortunate plight of James Howells, a Welsh IT worker who had […]
Digital banking start-up Tandem has started inviting its community of 10,000 “co-founders” to be its first customers. Tandem was formed in 2014 and is accessible online, via an app and through a UK call centre. It got its banking licence in November 2015 and says its focus is on helping people manage their money rather […]
BBVA says it is the first financial institution in Spain to launch online onboarding via mobile, which allows anyone to open an account in “just a few minutes”. A customer’s identity is verified through a selfie and a video call. Users can open an account at BBVA through their mobile phone by going to its […]
Regulatory technology (regtech) is winning the race to combat regulatory compliance exposure and mitigate conduct risk – especially in digital business environments. Join us for a webinar to debate this hot topic.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Weatherbys Bank live with new core banking system EXCLUSIVE. Oracle FSS’s Flexcube flexes its muscles. Mobile payments and European millennials Vocalink reveals millennials’ habits and perceptions. Japan rises to blockchain challenge with new consortium Launches with 42 member […]
Smith & Williamson, a UK-based investment, tax and accountancy services firm, is looking for a core processing system, Banking Technology understands.
Vocalink has unveiled its comprehensive research into the habits and perceptions of millennials when it comes to mobile payments. Turns out, this group is still waiting for the “Uber moment” of payments.
UK-based Weatherbys Bank is live with a new core banking system, Oracle FSS’s Flexcube, Banking Technology understands. The project started in 2015.
Citi has unveiled a new feature to let credit card members dispute certain posted charges directly within the Citi mobile app for iPhone in the US. It says it is the only major US credit card issuer to provide this feature on mobile, and the new feature is designed to provide “increased peace of mind” […]
Philippines-based BDO Unibank has signed a contract with its long-standing tech provider Fiserv for managed services support of the bank’s IT initiatives.
First Global Trust Bank (FGTB) had its licence cancelled by the UK regulators, Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA).
How would you respond if someone were to ask you: “What is the purpose of the bank branch?” For decades, the first answer may have been: “To allow customers to conveniently transact with the bank and manage their accounts”. This model has now changed drastically, and banks that still operate as they used to will very quickly yield to more forward-thinking competitors.
UK challenger “neo-bank” Pockit says it now has 100,000 customers, “nearly twice as many” as three of its rivals – Monzo, Atom and Tandem – “combined”. On its website, Pockit says it is a “prepaid MasterCard, not a bank”, so the term “neo-bank” may be worth scrapping or explaining. It’s been around for a while, […]
Deutsche Bank, Morgan Stanley, Nomura International and Societe Generale have teamed up to produce documentation for use in listed and unlisted repackaging transactions. According to the banks, repackaged products provide the investor exposure to the underlying credit of an issuer and are specifically designed for the investor’s risk-return needs. In addition, cash flows can be […]
Poland’s Ministry of Digital Affairs and its banking sector have launched a project, “From paper to digital Poland”, to boost the digitalisation of the nation’s public administration. With the project, Poles can use their banking ID and password to log in to the social insurance board, contact public administration offices or a local government’s site […]
The payments industry went just a bit blockchain bonkers at this year’s Sibos. Distributed ledger technology (DLT) was a hot topic throughout the week. This was quite astounding given there are very few examples of working blockchain or DLT use cases; most of the initiatives under way are proofs of concept.
Thomson Reuters is set to cut 2,000 jobs globally, taking a Q4 charge of $200-250 million as it aims to “streamline its business”. The restructuring will affect 4% of the Thomson Reuters global workforce across 39 countries and 150 locations.
The UK’s Financial Conduct Authority (FCA) wants more access to financial services and for fintech to show a greater understanding of the nation’s ageing population. In its 160-page “FCA Occasional Paper”, published today (1 November), the FCA looks at “barriers to bank accounts”, digital transformation and the growing grey brigade. Christopher Woolard, director of strategy […]
Credit Suisse is talking with an unnamed bank about a cost-sharing project around technology as it looks to make savings. In an interview with the Financial Times, Tidjane Thiam, the bank’s chief executive, says its idea is at the “proof of concept” stage – and hints it may use an investor day in December to […]
10x Future Technologies, the start-up founded by former Barclays CEO Antony Jenkins, is building a digital core banking platform for Virgin Money. It will be delivered in a cloud and will enable Virgin Money to unify its data platforms into a single infrastructure via 10x’s APIs, the vendor says. This new deal follows on from […]
Deutsche Bank is opening its data store to software developers from Germany and abroad as it looks for more digital solutions for its bank clients. Its site, developer.db.com, will from tomorrow (1 November) provide access to the bank’s proprietary development environment, allowing programmers to test their ideas for “digital services of the future”. The bank […]
Misys has signed a five-year enterprise license agreement with Deutsche Bank giving it “unrestricted access” to deploy Misys FusionBanking Lending and Misys FusionCapital solutions across the business. Misys’ FusionBanking Lending offering includes the Loan IQ back office platform for syndicated lending and the front-end that originates from Custom Credit Systems (CCS), a US-based provider of […]
Antony Jenkins, former CEO of Barclays, is back with a new company called 10x Future Technologies and launched a new core digital banking platform. As Banking Technology reported in June, Jenkins, who was sacked by Barclays in summer 2015 for failing to transform the bank quickly enough, set up 10X Future Technologies. At that time, […]
Financial crises are not new, but the global financial crisis of 2008 exposed the over-leveraged interconnectedness of our modern digital age. It reflected the failure of a laissez-faire economic and regulatory philosophy that had increasingly influenced policy circles during the past three decades; that banks could and should manage their own risk with little outside […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! HSBC Private Bank live with Avaloq Banking Suite EXCLUSIVE. It’s on in Switzerland and Luxembourg. European Association for Biometrics conference Eyes down for our event review. New challenger bank to launch in UK Hampshire Community Bank wants a […]
Cognizant has assisted KeyBank in implementing Oracle Banking Platform (OBP) from Oracle FSS as part of the bank’s tech revamp. Cognizant says it redesigned KeyBank’s core systems, applications, business processes and customer interfaces to “simplify transactions”. Vipin Gupta, EVP and CIO of Key Community Bank (KeyCorp’s division that includes retail, business and commercial middle market […]
The National Bank of Canada will cut 600 jobs as part of its restructuring plans and take a charge of $175 million in Q4. The charge includes severance payments to employees and the expense of moving premises. The bank says the restructuring will bring $120 million in annual savings. As of July this year, it […]
Algebra, Asia’s “first Shariah-compliant robo-advisor”, will be launched this December by Malaysia-based Farringdon Group Private Wealth Managers. It will be open to investors from across the globe, with a minimum investment of $200 per month. Funds will follow basic Islamic principles. For example, no stocks may derive income from gambling, alcohol, tobacco, pork products, adult […]
In an age of increasingly high consumer expectations, driven by ever increasing customer choice, the term “customer experience” has become more than a simple buzzword. Used as a key brand differentiator for all types of industries, it has emerged as a crucial tool in driving customer loyalty in the long-term. Irrespective of whether you are […]
As retailers across the country need to bring innovative customisation and convenience factors to their customers, credit cards are becoming an essential part of delivering value. Co-branded cards continue to play an important role in the retail landscape and can offer a unique point of distinction for retailers in today’s competitive environment.
A new challenger bank – Hampshire Community Bank – is gearing up for launch in the UK.
