Boston Firefighters CU in tech overhaul with COCC
Boston Firefighters Credit Union has outsourced its core processing to Connecticut Online Computer Centre (COCC).
Boston Firefighters Credit Union has outsourced its core processing to Connecticut Online Computer Centre (COCC).
California-based Kaiperm Diablo Federal Credit Union has selected Nymbus’ SmartCore core banking system as part of its technology revamp. Leslie Chan, chairman, board of directors, Kaiperm Diablo FCU, says: “Only Nymbus was positioned to deliver the technology innovation with the speed, agility and urgency we required.” SmartCore is supplied on a hosted basis, and will […]
Amazon is rumoured to be pondering the acquisition of Capital One. Banking Technology contacted both parties for a comment but received no response.
California-based SCE Federal Credit Union has chosen Jack Henry and its Symitar subsidiary’s Ease as an outsourced delivery model of the Episys core processing platform. SCE FCU, a $650 million-asset institution, chose outsourcing to give it “all of the benefits of Episys while alleviating the need to manage on-premise systems or hardware updates”. Dan Rader, […]
Australia-based banking software and services vendor Rubik Financial is to be taken over by Temenos. The deal is valued at $50 million.
San Francisco-based fintech start-up Zikher has unveiled its Software-as-a-Service (SaaS) platform for online lending as it targets small banks’ and credit unions’ business. Mortgage and loan applications are done online and take 15 minutes to fill out. Customers can access their application to get real-time information about their loan or mortgage and talk to a […]
UK challenger Metro Bank has accelerated a data project delivery, cutting provisioning time by 80%, following the deployment of the Delphix Data Virtualisation platform. The bank began working with California-based Delphix to enable it to deliver data to teams better. The idea was to integrate enterprise software into an existing IT stack. Delphix says its […]
US-based brokerage services provider Convergex has implemented Ancoa’s market surveillance platform to monitor all trading activity across its domestic and international cash equities and options businesses. It also monitors trading activity of “all lit and dark venues” including Millennium, Convergex’s proprietary applicant tracking system (ATS). The cloud-based deployment is running on Amazon Web Services (AWS), […]
Barclays is embarking on a major back office operations overhaul, with the creation of a standalone company, Barclays Services.
Synergy Research has released its latest findings for the global cloud computing market, painting a worrying picture for any challengers looking to cash in on the craze.
Canada-based St Stanislaus-St Casimir’s Polish Parishes Credit Union (Polcu) will move to a new core banking platform, Universa, supplied by local banking tech vendor Smartsolution.
Swiss-based Vontobel Asset Management has chosen SimCorp Coric to automate its client communications and fund reporting processes. Vontobel will deploy SimCorp Coric as a hosted solution via Microsoft Azure and the agreement will see the Coric solution replace in-house manual processes as well as an existing incumbent third-party solution. Stuart Keeler, managing director of SimCorp […]
Tech consultancy firm Capgemini is calling for start-up applicants for its InnovatorsRace50 competition – with the chance to win equity-free funding of $50,000. To celebrate 50 years since its launch, Capgemini’s InnovatorsRace50 wants entrepreneurs and “disruptive early-stage start-ups” to apply. The top five businesses, one from each theme, will win equity-free funding of $50,000 each. […]
India’s IT giant Wipro has teamed with and invested in supply chain finance platform Tradeshift to offer a cloud-based source-to-pay (S2P) business-process-as-a-service (BPaaS) solution. The partnership will provide digitalisation and automation in procurement, finance and accounting functions; and combines Tradeshift’s platform with Wipro’s integrated S2P services. Along with the partnership Wipro Ventures, the strategic investment […]
Wipro has acquired InfoServer, a provider of custom application development and software deployment services to banks, financial institutions and insurance companies in Brazil. India’s IT giant paid BRL 27.6 million ($8.7 million) for the deal.
While many traditional tech giants have been struggling to come to terms with the connected economy, SAP’s latest earnings indicate it is adapting well to the world of cloud computing.
Amsterdam-based banking software vendor Ohpen has gained approval from the UK’s Financial Conduct Authority (FCA) to carry out its regulated activities under its new British company, Ohpen Operations UK. Angelique Schouten, Ohpen UK’s CEO, says the approval means it can “deliver an alternative for financial services companies to digitalise and outsource their entire investments and […]
Delta Capita has been appointed as managed service provider to Credit Suisse EMEA Structured Products business. A number of existing Credit Suisse team will transfer to Delta Capita as part of the deal.
Aperio Group, $16 billion investment manager in California, has selected investment management software from Linedata.
BNP Paribas Securities Services has teamed up with Calypso Technology to bring to market “a full, end-to-end post-trade services offering across asset classes” for investment banks.
Target Group, a UK-based business process outsourcing (BPO) and software vendor, has purchased the operating business of Commercial First, a provider of commercial and residential mortgage servicing, due diligence and property valuations. Commercial First, also based in the UK, provides clients with services in the real estate lending market ranging from loan administration through to […]
DH Corporation (D+H) is now offering banks a cloud-based testing environment to simulate connectivity to The Clearing House’s (TCH) real-time payments system. D+H says it is the first payments hub vendor to provide banks in the US “easy and low-risk” access and with “minimal investment”. It offers an optional open API layer, where banks can […]
California-based InvestCloud has acquired Babel Systems in London for $20 million. Babel provides a modular and API-based trade and accounting platform, while InvestCloud has over 660 clients with “accounting needs served by legacy accounting systems that were designed in the last century”. This acquisition links InvestCloud’s digital platform with Babel’s capabilities. InvestCloud will also continue […]
Australia’s ME Bank has signed a five-year deal with tech consultancy firm Capgemini to manage its core banking functions. ME Bank says it will still look after the design and security elements of the Temenos’ T24 core banking system, while Capgemini will provide a managed service for its infrastructure. In an interview with the Australian […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! The first weekly news round-up of 2017. Happy 2017! Let it be a year of discovery and success.
MVB Bank, a $1.4 billion community bank in West Virginia, has signed for a new core banking system, Jack Henry’s Silverlake.
Turicum Private Bank in Gibraltar is live with new core banking software, Temenos’ T24. The system is delivered on Microsoft Azure cloud.
TBI Bank is implementing Provenir Cloud “for rapid risk decision-making and streamlined processing of customer applications”.
We are constantly connected to the cloud (iPhone, DropBox, Google Drive just to name a few) and yet, in financial services, the adoption has been tremendously slow. In part, this is due to a lack of guidance from regulators, especially where cloud-based regulation technology is concerned. But finally there is forward progress.
Arab Bank (Switzerland), a private bank in Geneva, has signed a long-term deal with Avaloq for the vendor’s complete business process outsourcing (BPO) services.
Drooms, a provider of virtual data rooms, has agreed a deal to acquire DealMarket with effect from 1 January 2017 to boost its service portfolio for the entire asset lifecycle. Zurich-based DealMarket has developed a cloud-based software package for private equity investors, family offices and corporate finance experts, allowing them to manage the deal flow […]
Amsterdam-based banking software vendor Ohpen has signed a long-term outsourcing agreement with Dutch state-owned bank SNS to deliver its business process outsourcing (BPO) solutions to support the investment propositions of ASN Bank, BLG Wonen, RegioBank and SNS. The services, underpinned by Ohpen’s Microsoft.Net-based core banking platform, will start by the end of 2017. Ohpen CCO […]
Amazon Web Services (AWS) has announced a new availability zone in London which indicates all is not well in the UK following Brexit, reports Jamie Davies at Telecoms.com. The new data centre creates the 16th availability zone worldwide for the public cloud leader, and is the first available in the UK. To date, customers in the […]
Oklahoma-based Mabrey Bank has migrated its IT infrastructure and core processing to an outsourced delivery model with US-based banking software heavyweight Jack Henry. The bank moved its IT infrastructure to the cloud computing environment, Gladiator Hosted Network Solutions, and then migrated its CIF 20/20 core processing system to JHA OutLink Processing Services. Carlisle Mabrey, IV, […]
UK-based challenger bank Metro Bank has moved its IT infrastructure to a Rackspace managed cloud solution. Rackspace says this has reduced the bank’s close-of-business processing time by 50% and report production time by two-thirds.
India-based core banking tech provider TCS Financial Solutions has gained its third live site among the UK credit unions for its Bancs core banking system, London Mutual Credit Union.
Amazon Web Services (AWS) has launched Financial Services Competency to certify its partners that specialise in the financial services space.
Myanmar-based Myanma Apex Bank (MAB) has selected JMR Infotech as its core banking managed services provider. For its core banking system MAB uses Oracle FSS’s Flexcube.
DBS Bank will automate its business spend management with Coupa Software’s cloud-based platform.
It’s infographics time! A great compilation of fintech companies, showing how we’ve gone from graph paper to personal data algorithms – and everything in between.