Big data is a promise. In theory, banks can now know more about every single one of their customers than ever before. There is a real opportunity for them to cement their customer relationships; to create targeted offers and personalised experiences that attract new, and retain existing, customers. UK’s retail banks have increasingly been using […]
Albilad Capital, the investment arm of Saudi Arabia’s Bank Albilad, is implementing IMSplus Custody, a specialist solution supplied by Profile Software. IMSplus Custody will support Albilad’s newly launched custodian services department. Albilad Capital operates according to Islamic finance principles and provides financing from equity and debt capital markets for a variety of sectors, including oil […]
Neptune, the open standards network for pre-trade indications in bond markets, has set up a new company, Neptune Networks Ltd, to run the utility. Neptune was formulated by Etrading Software and a group of 40+ banks and asset managers in H2 2014. The pilot production network went live in August 2015. Its supporters include Barclays […]
Standard Chartered says it plans to invest $3 billion in strengthening it technology, retail and private banking and wealth management operations. As part of this, $30 million will be invested over the next three years in Scope International, the bank’s global shared services centre in Malaysia. Scope International’s CEO Matthew Norris says that the subsidiary […]
Ewan MacLeod is heading to Nordea as co-head of its newly created “Group Digital” unit and is on the lookout for fintech companies, services and ideas to introduce to Nordea. MacLeod will be one of two chief digital officers at the Nordic banking group. The other one is Poul Raaholt, previously head of group IT […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Brexit: keep calm and carry on We assemble a panel of fintech and law specialists to discuss – with cool heads – the challenges and opportunities. Blockchain and Bitcoin round-up A round-up of key developments to save you […]
Advanced Payment Solutions (APS) has secured a credit licence from the UK’s regulator, Financial Conduct Authority (FCA). And whilst APS is not a bank, it competes with them. So is going through the pains for getting a banking licence really worth it, asks Rich Wagner, CEO and founder APS. We regularly see news of challenger finance […]
It’s hard to believe that it’s been just under two weeks since the UK narrowly voted in favour of Brexit. The pace of breaking news across the political and economic spheres has been brisk. In and amongst what is a great deal of uncertainty about the UK’s future relationship with the European Union, FinTech Futures, […]
Finnish fintech start-up Holvi has launched a debit card, Holvi Business MasterCard. It is available to customers in Germany, Austria and Finland. This follows on from the launch of a mobile banking app for iOS and Android last summer. Holvi, which was founded in 2011, provides entrepreneurs and SMEs with a range of financial and […]
ING and Belgian bank KBC have joined forces to launch a new, integrated mobile payments and loyalty platform in Belgium. This will combine ING’s payment app Payconiq with loyalty platforms Qustomer and KBC’s CityLife. Rik Vandenberghe, CEO ING Belgium, says the customer feedback it received about Payconiq and Qustomer “strengthens our conviction that as a […]
BNP Paribas Securities Services has become a direct securities participant to the US Federal Reserve through FedLine, its online financial services information and payment service. The company, a subsidiary of the BNP Paribas group, says this completes its direct connectivity to the US market on all securities instruments. BNP uses Torstone Technology’s post-trade securities and […]
APS Bank in Malta completes its major technology overhaul. The project has been successfully completed on time and on budget, states the bank’s management. The new platform is the ICBS system supplied by a Lebanese banking software vendor BML Istisharat. The solution is delivered on a hosted basis. This is the first project for BML […]
The UK is home to the world’s leading centre for financial services, and in recent years a thriving centre for fintech innovation. Elizabeth Budd, financial regulation expert at Pinsent Masons, urges the financial services industry to be vocal about the framework it needs to have in place to protect this status, and continue to do […]
The financial institutions have adjusted their service and relationship models by integrating digital interaction and communication tools for private banking customers, writes Alberto Cuccu, chief product officer at Objectway. In Italy, the digitisation of banking services has for many years been focused primarily on propositions aimed at retail customers (such as payment services or home […]
Just a couple of months following the appointment of the new CIO at Harrods Bank, its chief executive – Peter Ball – leaves. Ball has moved to specialist lender Together, to head its retail division. Together has been ramping up its leadership team – over the last three months alone it has added Colin Kersley, […]
Banking software vendor Intrasoft International has launched its African subsidiary. Kenya-based Intrasoft International East Africa will sell and implement the vendor’s flagship core banking system, Profits, as well as auxiliary solutions for AML, call centres, e-signature and fingerprint identification. It will also provide software and services to the public sector. The project has been underway […]
As first reported by Banking Technology in early May, Phoebus Software has gained a new customer – UK challenger bank Atom. The five-year deal will see Phoebus’ lending software supporting Atom’s secured business lending and account servicing for Atom’s residential lending. The new platform will be used by the bank’s team to originate loans for […]
There are three options of a road ahead for the payments industry players: 1) to carry on as they are and watch their margins erode; 2) to transform into a utility; 3) to have a long hard look at their value chain. If you choose the latter – what do you see, asks Sapient Global Markets’ Leda […]
Bank of Khartoum (BOK) has opened its first international branch, underpinned by Path Solutions’ iMAL core banking system. The branch is located in Bahrain. Path Solutions is a long-standing tech supplier to the Sudanese bank, but says that iMAL “was chosen over competitors’ systems” for the BOK International project. BOK International focuses on products and […]
Three ex-Barclays workers have been found guilty of manipulating the Libor interest rate between 2005 and 2007. Jay Merchant was convicted unanimously at Southwark Crown Court in London of rigging the key financial rate. Jonathan Mathew and Alex Pabon were found guilty by majority verdict after a ten-week trial. They will be sentenced on Thursday […]
Banque Privée Edmond de Rothschild (EDR) is implementing a new core banking solution, Avaloq Banking Suite. It will be provided on a hosted basis by Avaloq, supporting EDR’s operations in Switzerland, Luxembourg and Monaco. Banking Technology understands that the contract was signed at the end of last year. EDR specialises in private banking and asset […]
Blockchain is disrupting the financial services (FS) industry. Deloitte recently called it one of the year’s most controversial and debated topics. Yet, despite the hundreds of millions being invested in blockchain technology by companies from all industries across the globe, there is still much confusion around how the technology works and the effects it will […]
JP Morgan has launched In-Residence, a new programme for fintech start-ups to use its facilities, systems and expertise. The company says it is inviting start-ups to sit “side by side” with its businesses to develop innovations that could “revolutionise” the sector. Sanoke Viswanathan, chief administrative officer of JP Morgan’s Corporate & Investment Bank, says this […]
Woman In Technology (W.I.T) Award recognises an outstanding contribution made by a female to the fintech industry. The W.I.T. Award celebrates the spirit of inclusion, diversity and creativity in the fintech industry Supported by a worldwide network of FemTechLeaders To be presented at the Banking Technology annual awards ceremony and gala dinner on 1 December. […]
Temenos has landed a major deal with Standard Chartered, to modernise the bank’s wealth management software across 30+ countries. The bank signed for Temenos’ WealthSuite, front-to-back office, which incorporates the vendor’s T24 system; Insight BI for analytics; Temenos Connect for channels; and the TripleA portfolio management software that stems from Odyssey Financial Technologies, a wealth […]
Nordea has set up a new “Group Digital” unit to drive its digital banking agenda forward. The unit will start to operate on 1 September and will be co-headed by Poul Raaholt, previously head of group IT at Nordea, and Ewan MacLeod, previously responsible for the retail digital transformation programme at Royal Bank of Scotland. […]
When I first started travelling for my job, it wasn’t too afield. I was working in Australia so it involved trips to New Zealand, Singapore and not much more. However, in only a few years, my travel grew to where it became routine to visit the US, Germany and the UK, but with the aircraft […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Brexit threat to UK jobs at Visa Should I stay or should I go? Swift hackers steal $10m from Ukraine bank Massive attack. New challenger bank readies for launch in UK Atten-shun! UK military personnel, veterans and their […]
Panin Bank, a retail and business bank in Indonesia, has launched new digital banking products and services using Fiserv’s Mobiliti and Corillian Online. Ken Ng, director of retail banking, Panin Bank, says Fiserv has allowed it to develop an “innovative, feature-rich and integrated digital banking service that consumers have come to expect in the modern […]
The Services Family bank will cater for the UK military personnel, veterans and their families. Sopra Steria’s technology will underpin its operations. The digital bank is being created by The Services Family Ltd (TSFL), a financial services firm set up two years ago by two military veterans. It is going through a process of obtaining […]
Deutsche Börse is to provide the IT infrastructure for German private bank Donner & Reuschel, and will assume administration and hosting for its data centres. In addition to connecting to its own trading platforms, Eurex and Xetra, network connectivity will also be extended to bank end users and additional third-party providers. “Deutsche Börse provides our […]
India’s third largest private sector bank, Axis Bank, has launched a new innovation lab, becoming the first domestic bank to do so in India. Dubbed “Thought Factory”, the lab is aimed at accelerating the development of innovative technology solutions for the banking sector and is expected to work closely with the start-up community. Thought Factory […]
BookingBug says Yorkshire Building Society (YBS) has become “the first truly omnichannel mortgage provider” with its new system that enables booking appointments in branch, online, mobile and call centres. UK-based BookingBug specialises in appointment scheduling and event management software. The new system has centralised data across 3,000 staff in 200 branches at YBS, and cut […]
While the benefits of big data are well understood for compliance and fraud prevention, the technology can also deliver very useful insights into customer behaviour. Thanks to big data analytics, retail banks can monitor how customer behaviour evolves and any significant patterns that can inform which products to market and offer. In the UK, Lloyds […]
Fujitsu has built an accounting system that complies with International Financial Reporting Standards (IFRS) for the Central Bank of Myanmar. The Japanese firm says it has systemised journal entry, including functions for automatically generating accounting entries, and all sorts of forms. These were previously done manually by bank employees. This accounting system was built by […]
CTO Mark Hipperson, who was also the bank’s co-founder, has recently left Starling. Prior to moving to Starling, Hipperson was a long-standing GM at a UK-based IT consultancy firm, BJSS. Earlier in his career, he was head of technology at Barclays’ corporate banking division (1992-2000). According to FT, this was his comment on his departure: […]
Following an unsuccessful attempt to implement Third Financial’s Tercero platform and the subsequent market search, LGT Vestra has decided to keep its incumbent solution, JHC Systems’ Figaro. Figaro will continue to support front, middle and back office operations of the UK and Jersey-based wealth manager. The company was known as Vestra Wealth until recently. In […]
The London-based subsidiary of South Africa’s banking group, FirstRand Bank, is live with a new regulatory reporting solution. The software is supplied by specialist vendor AxiomSL and supports the bank’s production and submission of statistical reports required by the Bank of England (BOE). AxiomSL has been providing its BOE reporting solution to financial institutions in […]
US-based banking software heavyweight Jack Henry & Associates and its Symitar subsidiary are busy with a number of core software projects across the US. Jack Henry converted Georgia-based Bank of Newington and Wisconsin-based Cleveland State Bank to its Windows-based Core Director platform. Both banks decided to replace their previous core systems and multiple third-party vendor […]
Wells Fargo will launch real-time person-to-person (P2P) transactions in the US – for more than 17 million mobile customers. Beginning 1 August, the service will allow Wells Fargo’s customers to send funds in real-time at “no cost” to any customer of a bank that participates in the real-time service, which operates on Early Warning’s clearXchange […]
