Digital


SIA partners with Raphaels Bank for payments

Italian payments firm SIA has teamed with Raphaels Bank to develop and launch payment solutions in the UK and across Europe. As part of the agreement, UK-based Raphaels and SIA will offer SEPA payments services to clients through the bank’s “indirect participation” in the SEPA Credit Transfer and SEPA Direct Debit schemes. Cristina Astore, head […]

Nucleus Software launches mobile lending solution in Australia

Nucleus Software has released its mobile loan self-sourcing solution – mApply – for the Australian market. The firm says mApply helps banks digitise their loan origination lifecycle. Customers and mortgage brokers can view pre-approved loan offers from a bank, select the best offer and submit a paperless loan application “within minutes” and “without any need […]

Banking Technology June 2016 issue out now

The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.

PayPal files Bitcoin payment patent

PayPal has filed a US patent application for a modular payment module that accepts Bitcoin and other digital currencies. The application names Bitcoin, Litecoin and Dogecoin; and sets out the physical characteristics of the module. It says: “The module includes a chassis which has a modular device connector. A payment database in the chassis stores […]

Clever banking with artificial intelligence

As banks, financial services providers and brands predict and plan for the way consumers will manage their money in the future, artificial intelligence (AI) is high on the business development strategy for 2016 and beyond. Gideon Hyde, co-founder of Market Gravity, explains how and why artificial intelligence (AI) could hold the key to standing out […]

Licence rejection sees PayPal quit Turkey

PayPal is suspending business in Turkey from 6 June as it has failed to get a new licence for its services. The US company says the decision will affect “tens of thousands of businesses and hundreds of thousands of consumers”. PayPal did issue two separate statements to TechCrunch. The first was very similar to the […]

Standard Chartered unveils mobile and online banking in Africa

Standard Chartered is bringing its mobile and online banking platform to eight countries in Africa. After the roll-out to Botswana, Ghana, Kenya, Nigeria, Tanzania, Uganda, Zambia and Zimbabwe in the first half of 2016, the bank will launch fingerprint recognition technology in these markets later in the year. Karen Fawcett, Standard Chartered’s CEO for retail […]

Swedbank launches digital banking unit

Swedbank has restructured its management team and launched a digital banking group. The new “Group Function Digital Banking” will be responsible for digital sales support, development and innovation. The bank is looking for a permanent head of digital banking. Birgitte Bonnesen, president and CEO of Swedbank, says the changes are a “natural step” and meet […]

Reserve Bank of India pushes for ATM revamp

The Reserve Bank of India (RBI) plans an overhaul of the country’s ATMs to enable the processing of EMV chip and PIN cards by 2017. The RBI says while India’s POS infrastructure accepts and processes EMV chip and PIN cards, the ATM infrastructure, “on the whole”, continues to process card transactions based on data from […]

Top fintech stories this week – 27 May 2016

Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Swift hacks sees 12 more banks under attack A fast moving chain of events. High five for Apple Pay in Singapore Big banks onboard include OCBC and Standard Chartered. NYSE launches new trading tech platform, NYSE Pillar The […]

OakNorth Bank heads to the cloud with Amazon

OakNorth says it has become the “first cloud-based bank” in the UK, eight months after launching. The bank, which provides loans of between £1 million to £15 million to “entrepreneurs and fast-growth” businesses, has been working with Amazon Web Services (AWS) and the UK’s Financial Conduct Authority (FCA) for six months on policies related to […]

Invisible apps: removing friction from the online banking experience

A new stage of interactive banking is here. Santander recently announced a new app that will let consumers speak to their phone about their spending habits. Lloyds announced a video interview mortgage service, allowing customers to apply without setting foot in a branch. And HSBC released an app which replaces a pin number for voice biometrics. This […]

BBVA teams with Red Hat for digital banking drive

BBVA is partnering with Red Hat to speed up innovation and digital banking growth. The agreement, which turns Red Hat into a “priority partner” for BBVA, is part of a series of alliances that BBVA is aiming to forge. Earlier this year, it signed an alliance with Cisco, also allowing it to become a “priority” […]

High five for Apple Pay in Singapore

Apple Pay support is expanding beyond American Express to Visa and MasterCard credit and debit cards from five of Singapore’s major banks. The big banks include POSB, DBS, OCBC, Standard Chartered and UOB. This latest deal is a significant development for Apple as it now has more than 80% of the Visa and MasterCard credit […]

Swift strikes back over three hack attacks

Swift has unveiled a five-part plan to reinforce security across its network after three hacking incidents. The attacks comprised a $101 million cyber heist in Bangladesh; Vietnam’s Tien Phong Bank stopping an attempted wire fraud; and Ecuador’s Banco del Austro losing around $9 million. At the 14th annual European Financial Services Conference in Brussels, Swift […]

The switch from analog to digital banking is not just about new tech – part 2

Art Gillis, a seasoned banking technology consultant (working in the computer industry since 1958 – and listed as a top 25 tech consultant by the American Banker) and author, pulls no punches in this opinion piece. Digital technology evangelists, read it at your peril. This is Part 2 of Art’s article. Click here to read […]

Commerzbank chooses Infosys for investment banking tech revamp

Financial systems vendor Infosys has been awarded a five-year contract with Commerzbank to remodel its investment banking IT architecture. Along with the remodel, Infosys will improve IT processes and evaluate a potential post-trade processing utility. The later would then “focus on the clustering of trade processing platforms across various product types”. Stephan Müller, group CIO, […]

Fintech vendor APS Financial gets UK credit licence

Advanced Payment Solutions (trading as APS Financial) has secured a credit licence from the UK’s Financial Conduct Authority (FCA). This development allows APS to carry out consumer credit lending (including high-cost short-term credit lending) to its customer base of micro SMEs, sole traders and consumers. Rich Wagner, CEO and founder, APS Financial, says: “This credit […]

HSBC India halves branch network

HSBC India is closing 24 branches across the country due to the rise in digital banking. Following a “strategic review” of its retail banking and wealth management business in India, it says it will move from 50 branches across 29 cities to 26 branches across 14 cities. HSBC India says: “This change reflects changes in […]