The banks know they need to do better for their millions of UK customers, but the pressing question is how? One answer is to form partnerships with some of the fintech companies that are now gathering momentum as powerful players in the market. Can these potential competitors be the banks new best friends? Jurgen Hutter, […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! ECB goes to tender for new treasury management system After many years it’s time for a change. Microsoft unveils blockchain-based identity system Inspired by the United Nations’ ID2020 Summit on Identity. Student Loans Company puts IT contract with […]
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 […]
UK-based HPD Software has launched Aquarius Construction Finance aimed at lenders who fund construction sub-contractors. The company is targeting its module at finance providers who want to enter or expand into the construction sector, which it says is “traditionally a ‘no-go zone’ for commercial lenders”. Kevin Day, COO at HPD Software, says: “The construction sector […]
India-based IT heavyweight Tech Mahindra is spending £112 million on Target Group, a UK-based business process outsourcing (BPO) and software vendor. Target focuses on the lending, investment and insurance sectors, claiming around 50 financial institutions in the UK as customers. Among them are Yorkshire Building Society, Shawbrook Bank, Central Trust and Masthaven. It also works […]
Student Loans Company (SLC), a large government-owned lender in the UK, is believed to have halted its IT renovation project as it puts the contract with the supplier under review. SLC embarked on this massive project in early 2014 – awarding the contract to HCL. HCL bid jointly with Deloitte and Misys. HCL would be […]
Ipreo, a fintech firm headquartered in New York, and Misys have signed an agreement to integrate Debtdomain and Misys FusionBanking LoanIQ for syndicated loan arrangers and agents. Mutual clients of Debtdomain and FusionBanking LoanIQ have previously integrated the products, but this deal will be the “first” that is jointly developed and supported by both Ipreo […]
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 […]
Italy’s Banca Popolare di Sondrio and Helpline have implemented NICE’s Robotic Automation solutions for loan approvals and credit card fraud prevention. Banca Popolare di Sondrio, which has 350 branches across the country, decided to implement NICE Robotics to speed up its online loan and credit approvals process. As a result, NICE says average handle time […]
Lending Club’s chairman and CEO Renaud Laplanche has resigned following an internal review of sales of $22 million in near-prime loans to a single investor, in contravention of the investor’s express instructions. Shares in the US-based company fell by more than 20% today (9 May) as a result of the shock departure. Scott Sanborn will […]
Sanasa Development Bank in Sri Lanka is automating its front-office lending software. The bank is going to implement a new end-to-end platform for loan origination, mobile loan origination and collections. The bank issued a request for proposal (RFP) at the end of last year to find the new system and the supplier. The bidding process […]
Nissan Motor Acceptance Corporation (NMAC) will install a new leasing solution, Wholesale Floorplan Finance System (WFS), supplied by specialist vendor Sword Apak. It will be delivered on a Software-as-a-Service (SaaS) basis. NMAC was looking for a new solution “that would provide an outstanding level of service to dealers”, says Sword Apak. The company is also […]
Mike Lobanov, partner at Target Global, takes a look at the recent fluctuations in Lending Club’s share price to assess the impact on the peer-to-peer (P2P) industries. The P2P lending platform Lending Club is proudly the largest platform of its kind in the US. Founded in 2007, it successfully raised in excess of $390 million […]
Texas-based asset administrator, Virtus Partners, has gone live with new back office lending system, FusionBanking LoanIQ, supplied by Misys. The new platform supports full-service agency administration and bank portfolio loan administration. It covers SME, commercial and syndicated lending. The contract was signed in November last year. The implementation work took around three months and came […]
Explore how you can turn challenges into opportunities across five major use cases in consumer lending.
