Mortgage tech provider PCLender acquired by Fiserv
Fiserv has acquired PCLender, a US-based provider of “simple, elegant, internet-based mortgage solutions for community banks, credit unions and mortgage bankers”.
Outsourcing
Everyday Loans automates IFRS 9 compliance with Jaywing
Everyday Loans, a UK-based provider of “loans for bad credit”, has signed for Jaywing’s Horizon solution for IFRS 9 modelling and provision calculation.
UK fintech start-up DueCourse goes into administration
UK-based DueCourse, a cloud-based invoice financing start-up, has run its course with the revelation that it has gone into administration. The bad news comes less than a year after it received £6.25 million in funding from investors, including the founders of TransferWise, and non-fintech firms such as LinkedIn, Zoopla and Lovefilm. According to online publication […]
Cantilan Bank pioneers cloud-based core banking software in Philippines
Cantilan Bank is set to become “the first bank in the Philippines to use cloud-based core banking technology in its operations”.
Blockchain and Bitcoin round-up: 25 July 2017
Don’t expect silence or tumbleweeds blowing down the street in the world of blockchain and Bitcoin. Our latest round-up features Microsoft, LedgerX and Bank of America Merrill Lynch. Microsoft is introducing enterprise smart contracts as it delves deeper into the blockchain arena. This announcement, in a long blog post, follows on from last year’s launch […]
Google makes loads of money, but cloud is real story
Googlers are still swimming in cash as the latest quarter brought in $26.01 billion, and not even a $2.74 billion fine from the European Commission could dampen the mood at this party, reports Telecoms.com (Banking Technology‘s sister publication). The uplift in revenue, accounting for a 21% year-on-year boost, should not really come as a huge […]
Banking Technology and FemTechGlobal looking for inspiring women in fintech
Do you know any special women in technology who have made a huge contribution to fintech? Then we want to know! Banking Technology and FemTechGlobal, a global diversity and inclusion organisation, are again on the look-out for all amazing women who deserve the Woman In Technology (W.I.T.) Award, part of Banking Technology’s 2017 annual Awards show. […]
Germany’s National Bank overhauls IT infrastructure with Atos
Germany-based National Bank has selected Atos for a five and a half year contract to revamp its IT infrastructure. The contract includes data centre, server, mainframe, database and storage services. Atos will deliver the operation and maintenance of the internet and application servers; and be responsible for creating customised security solutions. Thomas Stephan, head of […]
New payments bank launched in India, Fino Payments Bank
India has seen the launch of its fourth payments bank, Fino Payments Bank. For its core banking system, the bank uses Profile from FIS, delivered on a hosted basis.
Azure leads the charge as Microsoft continues its resurgence
Microsoft has put in another solid performance with quarterly revenues standing at $24.7 billion, a 9% boost year-on-year, and full-year revenues of $89.95 billion, reports Telecoms.com (Banking Technology‘s sister publication). While the More Personal Computing unit, which for devices and gaming etc declined once again, the success of the more potent business units more than […]
Oracle expands on-premise public cloud offering – sounds weird right?
Oracle has continued its journey into the cloud, expanding an interesting proposition to target the data sensitive and paranoid.
No silver lining for IBM cloud revenues
Despite a big push in its cloud-coated ambitions, IBM has revealed a drop in revenues for its technology services and cloud platforms. For its Q2 2017 results, revenues for this largest part of its business (including infrastructure services, technical support services and integration software) was $8.4 billion, down 5.1%. However, in its “strategic imperatives”, IBM […]
Fintech funding round-up: 18 July 2017
You’ve come to the right section for cash injection. Today’s fintech funding round-up features Contego, Privitar, Form3 and Barclays. Maven Capital Partners, a UK private equity house, has led the £3.5 million investment in Contego Fraud Solutions to support its growth plans. Maven is putting in £1.8 million, NVM Private Equity is investing £1.5 million, […]
Turnkey Lender raises $2m in Series A funding
In a round led by Vertex Ventures, the venture capital wing of Temasek Holdings, Turnkey Lender has picked up $2 million in funding, reports Finovate (Banking Technology’s sister company). The Singapore-based company specialises in loan management technology, delivered over the cloud, that automates all stages of the lending life cycle – from application processing to collections […]
Ephesoft earns $15m investment from Mercato Partners
Document capture and data analytics company Ephesoft landed $15 million in Series A funding from Mercato Partners. This marks the company’s first round of funding since it was founded in 2010, reports Finovate (Banking Technology’s sister company). “Mercato’s investment will help Ephesoft realise its vision of liberating meaning through machine learning technology,” says Ike Kavas, Ephesoft’s founder. […]
Analysis: outsourcing to the cloud – EBA’s recommendations
The European Banking Authority (EBA) recently opened a consultation on its draft recommendations for financial institutions outsourcing to cloud service providers across all cloud-related domains including infrastructure, platform and software as a service.
Just in case you need a reason: why participate in Banking Technology Awards?
This year’s Banking Technology Awards are taking place on 13 December in London and there are plenty of reasons why you and your team should be a part of this prestigious event. Besides having a good chance at winning, entering the Awards also allows you to: Make global headlines in the industry if your entry […]
Regtech: features that make data work harder and smarter
There is far more to regtech than regulatory technology, or at least there can and should be. Regtech, as it is coming to be understood, must be something qualitatively different from what it’s replacing and not just a faster and better version of the same thing.
Fintech funding round-up: 30 June 2017
A handy round-up of who’s investing in what in the fintech space. Featuring Revolut, Tango Card and ClauseMatch.
nCino wins first client outside US, OakNorth
UK challenger OakNorth Bank has deployed nCino’s Bank Operating System – the first financial institution outside of the US to use the platform. According to the pair, the bank “liked that” nCino was built on Salesforce.com, allowing it to extend its use of this customer relationship management (CRM) platform. Bank Operating System combines CRM, loan […]
Nominate your projects for Banking Technology Award!
Banking Technology is on the lookout for all the best FinTech projects of the year! Recognising excellence, innovation and the use of IT in banking and financial services, the Banking Technology Awards will be taking place on 13 December in London. Think your achievements deserve a special recognition? Or know projects that do? Nominate today […]
Bank of America signs for Oracle ERP
Bank of America is rolling out Oracle’s cloud-based ERP system and financial applications for its international general ledger and broker-dealer systems.
SnoCope Credit Union to save $100,000 per year with core tech conversion
SnoCope CU, a small credit union in the US state of Washington, is revamping its core processing technology with CUProdigy. The new cloud-based platform will replace Fiserv’s Galaxy solution.
More jobs to go from RBS in UK to India
Job-cutting spree continues at the Royal Bank of Scotland (RBS) – 443 jobs are to go from its business loans department. Many of these will be moved to India.
Greater Wyoming FCU outsources core, digital and cards tech to Fiserv
Greater Wyoming Federal Credit Union has ditched its incumbent core software provider for Fiserv. The credit union has implemented Fiserv’s Portico core processing and digital banking system on a hosted basis.
Case study: Valley National Bank – cloud atlas
Valley National Bank, a $23 billion regional bank holding company headquartered in northern New Jersey, is undertaking a widespread technology refresh to improve customer experience and profitability.
Who is the greatest fintech leader of 2017?
This year’s Banking Technology Awards are taking place on 13 December in London and once again we will be recognising individuals for leading and playing an instrumental role in devising and/or delivering the technology strategy to support the key business objectives of an organisation. The Tech Leadership Award category is open to all industry participants worldwide – those […]
Spain’s first fully digital bank Openbank in major transformation
Openbank, a subsidiary of Spain’s banking giant Santander, has undergone an enterprise-wide overhaul, from products and services, to technology, to corporate culture, to new branding.
Banking Technology Awards 2017 now open for entry!
Know any innovative products, inspirational projects, skilled teams or visionary leaders that deserve a special recognistion this year? Nominate them for a Banking Technology Award!
Finastra heads to IBM cloud for digital banking
Fintech titan Finastra is turning to IBM to power its banking operations with cloud and cognitive technologies. As reported yesterday (14 June), Misys and DH Corporation (D+H) joined forces to create Finastra, the third largest financial services technology company in the world. With Finastra now officially alive and kicking, it’s wasted no time in showing […]
Glenmede Trust Company implements Charles River IMS platform
Glenmede Trust Company, a US-based investment and wealth management firm with $34 billion of assets under management, is consolidating its institutional and wealth operations on Charles River’s Investment Management Solution (IMS).
Surety Bank to swap legacy core banking system for Nymbus’ SmartCore
Florida-based Surety Bank is embarking on a core banking software overhaul with Nymbus. The bank will implement Nymbus’ flagship SmartCore system. The solution will be delivered in a private cloud.
Avaloq Community Conference 2017: embracing blockchain and Bitcoin innovation
Swiss core banking software vendor Avaloq is prepared to tap into the potential of blockchain and Bitcoin over the next 12 months as it seeks to experiment and innovate more in these areas.
Fiserv sets sights on mobile payments tech vendor Monitise
US tech giant Fiserv has offered to buy Monitise, a UK-based mobile payments software and solutions provider. The cash offer to acquire is at 2.90 pence per share – valuing Monitise at approximately £70 million.
Case study: Amsterdam Trade Bank – Amster-can
A bank-wide replacement of its main business applications is ambitious enough but it is just the starting point for Amsterdam Trade Bank (ATB), as it seeks to harness new technologies, adopt a new culture and digitise its business.
Europe has another go at getting more access to private data
An inevitable consequence of the recent spate of terrorist incidents has been calls for greater access to private data and now the European Commission has joined in, reports Telecoms.com (Banking Technology‘s sister publication). According to a Reuters report the European Union (EU) wants to make it easier for authorities to get hold of private data […]
Top fintech stories this week – 9 June 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Mizuho goes open banking on IBM cloud
Mizuho Bank has opted for a suite of IBM services to power its open banking ambitions in Japan. The bank will use IBM’s FinTech API solution, API Connect on the IBM Cloud and IBM DataPower Gateway. The shift to API banking is a common theme for many in fintech at present. According to IBM, the […]
Maybank launches fintech sandbox
Malaysia’s largest bank, Maybank, has unveiled its fintech sandbox to let ASEAN start-ups develop and test new ideas. As the “first in ASEAN”, the Maybank FinTech Sandbox offers a place “free of charge” to help developers throughout the region. The bank is keen to tap into ideas around cloud, the internet of things (IoT) and […]
Oracle taps into AI buzz to calm security fears
Oracle has announced a number of updates to its security portfolio focusing on leveraging the buzz surrounding machine learning, artificial intelligence (AI) and contextual awareness technologies.
