Obsidian and Arroweye reward consumers for shopping local with prepaid cards
Obsidian, a Colorado-based organisation that encourages consumers to shop local in their home community, has selected Arroweye Solutions for its Local First Card programme.
North America
Nymbus unveils digital banking platform, SmartDigital
Banking software start-up Nymbus has launched its digital banking platform – SmartDigital – offering open architecture and APIs to enable financial institutions to integrate with third-party applications.
Nacha’s American API payments dream pushes on
Nacha, the backbone for the electronic movement of money and data in the US, and its Payments Innovation Alliance (PIA), have named the first five APIs for their big payments push. The API Standardization Industry Group, created in spring 2017 and sponsored by Nacha’s PIA, is working to further efforts to standardise the use of […]
Infographic: the world’s most cashless countries
What countries among the 20 largest economies are adapting quickest to using cashless systems like phones and contactless cards? New research (and nifty infographics) from global trading site Forex Bonuses reveals that Canada takes the top spot, narrowly edging out Sweden for the top position.
Top fintech stories this week – 6 October 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Navient’s $155m acquisition shows the importance of being Earnest
US asset management firm Navient will acquire education finance company Earnest for $155 million in cash as it hunts out new markets. As part of Navient, Earnest will continue as a “distinct brand” and will be led by its current management team, including founders Louis Beryl and Ben Hutchinson. Navient says Earnest clients will continue […]
Voleo and Nasdaq to launch equity trading competition
Social investing platform Voleo has teamed up with Nasdaq to launch its Voleo Equity Trading Competition – with winning investors and investing teams getting $10,000 in real cash portfolios, reports David Penn at Finovate (Banking Technology‘s sister company). “The goals of the competition are to improve financial literacy, to break down the knowledge barrier, and […]
Three US credit unions added to Finastra client list
Three credit unions in the US have signed for the lending software from Finastra (formerly D+H Corporation and Misys). These are Central Florida Educators Federal Credit Union, TruMark Financial Credit Union and Evansville Teachers Federal Credit Union.
Snapsheet and KeyBank form virtual duet for insurance claims
Snapsheet, a virtual claims insurtech provider, is partnering with KeyBank for the launch of Snapsheet Transactions, a payment solution for insurance claims. Instead of insurance carriers sending claimants a cheque in the mail once a claim is settled, Snapsheet Transactions provides carriers a hub for issuing claims and expense payments. CJ Przybyl, president of Snapsheet, […]
Live Oak and First Data open up to digital banking with Apiture JV
International paytech firm First Data and a bank in North Carolina, Live Oak, have partnered to form a new digital banking joint venture (JV) called Apiture.
Bank of the West in major tech modernisation
EXCLUSIVE: Bank of the West, a large regional bank in the US and a subsidiary of BNP Paribas, is embarking on a major tech overhaul with Infosys, it is believed.
Blooom surpasses $1bn in assets under management
Wealthtech company Blooom says it has surpassed the $1 billion assets under management milestone.
Stockpile raises $30m to boost millennial stock ownership
Millennial-focused brokerage firm Stockpile has pulled in $30 million this week in a Series B funding round led by Fidelity.
Top fintech stories this week – 29 September 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
BBVA analyses urbanites for big data dynamite
BBVA has launched Urban Discovery, an interactive tool open to everyone that analyses the cities of Madrid, Barcelona and Mexico City through the prism of their commercial activity. The bank says the analysis led to the creation of new maps that redraw urban borders and identify the most touristic and residential areas or those where […]
What’s hot and what’s not in US fintech
Finovate (Banking Technology‘s sister company) teamed up with the Fintech Cocktail Club earlier this month to play another game of Fintech Tinder (otherwise known as hot or not), writes Julie Muhn. Here are the rules – we shouted out a list of 20 fintech trends and our cocktail-fuelled audience shouted their opinion on whether the […]
Swych seals Series A funding
Digital gifting platform Swych has closed its Series A round with a “major strategic capital investment” from UAE Exchange Group. The amount of the investment was undisclosed, reports David Penn at Finovate (Banking Technology‘s sister company). “Swych’s global gifting technology and vision fits well with our strategy to foster purpose-based money transfers,” UAE Exchange Group […]
Blue chips are down as Deloitte hit by cyberattack
Yet again, another fintech firm has been hit by a cyberattack. This time it’s Deloitte’s turn – with confidential emails and plans of some of its blue-chip clients compromised, according to the Guardian. The cybersecurity attack went unnoticed for months and the Guardian says it understands that Deloitte clients across all of its sectors – […]
Big banks back Canada’s $150m digital ID system
Canada’s big banks have joined the charge for a CA$185 million ($150 million) digital identity supercluster bid that plans to solve the identification challenges of the digital economy. According to IT World Canada, Royal Bank of Canada (RBC), Bank of Montreal, Scotiabank, CIBC, TD Bank and National Bank of Canada – are on board, along […]
P2P lender Prosper’s valuation stands at $550m with new funding
US peer-to-peer (P2P) lending firm Prosper has landed $50 million in a Series G funding round. The capital comes from Hong Kong-based FinEx Asia and LPG Capital and raises the San Francisco-based company’s total equity funding to $410 million.
Kasasa rolls out Kasasa Loans
Fintech and marketing services company Kasasa unveiled its newest offering, Kasasa Loans, which lets consumers pay ahead to reduce debt and take that extra money back if they need it.
AutoGravity teams up with Hyundai Capital America
Thanks to a new partnership between AutoGravity and Hyundai Capital America, California car buyers using AutoGravity have new financing options when looking to buy a Hyundai, Kia or Genesis vehicle.
Fintech funding round-up: 22 September 2017
There was a round-up yesterday because fintech funding won’t go away. More action featuring Tuition.io, Apiax and Etch. Tuition.io, a US-based employer-funded student loan repayment assistance platform, has announced a $7 million Series B funding round led by Wildcat Venture Partners with participation from existing investors Mohr Davidow Ventures and MassMutual Ventures, the corporate venture […]
FinovateFall 2017: a look back at the four-day flow
Adding a pair of discussion days to Finovate’s traditional demo days format, has made it that much easier for FinovateFall attendees to answer the question perennial post-conference question: “So. What did you think?”
Digiliti Money plans to delist from Nasdaq
Digiliti Money (DGLT), which is in merger negotiations with Urban FT, is planning to delist from the Nasdaq, according to its most recent SEC filing.
Malauzai’s digital banking does the business for Somerset Trust
Courtesy of its partnership with Malauzai, Somerset Trust Company is extending its digital banking service to its business customers. The West Pennsylvania-based community bank will use the same MalauzaiOne digital banking platform it rolled out to retail customers last year, giving business users digital access to their accounts and ways to manage payments and receivables, reports […]
Sun Life looks for life with fintech start-ups
With the unveiling of its new corporate headquarters at One York Street in Toronto, Sun Life Financial has made it loud and clear it’s on the prowl for fintech start-ups. The super-shiny, 35-storey, 800,000 square foot office tower, is a mighty site/sight and will offer connection to Toronto’s Union (railway) Station and PATH network (i.e. […]
Gulf Coast Bank & Trust turns to nCino for cloud-based lending
Louisiana’s Gulf Coast Bank & Trust has gone live with nCino’s cloud-based Bank Operating System, “increasing the efficiency and speed” of the commercial loan process. According to nCino, Gulf Coast Bank & Trust, a 113-year-old bank with branches throughout southeastern Louisiana, identified the need to replace numerous siloed systems with a solution that would automate […]
JP Morgan Chase goes in for the Bill for digital payments platform
JP Morgan Chase has teamed with Bill.com, the largest digital business-to-business (B2B) payments network in the US, for its new paytech platform. This B2B solution, to be rolled out next year, will be integrated into Chase’s digital platform for businesses, used for online and mobile solutions. Andrew Kresse, CEO of business banking at JP Morgan […]
Amplify Credit Union to swap legacy core processing tech for Fiserv DNA
Amplify Credit Union is converting from its legacy core processing software provider to Fiserv and its DNA platform. DNA will become the credit union’s “new foundation for its member-centric technology strategy”, Fiserv says.
Infographic: same-day ACH debits steps for success
Nacha, the backbone for the electronic movement of money and data in the US, has launched the same-day automated clearing house (ACH) debit transactions with its ACH Network.
EU-US Privacy Shield faces its moment of truth
While you were tucking into your ham sarnie European Commission Věra Jourová touched down in the US to start the first annual review of the EU-US Privacy Shield, reports Telecoms.com (Banking Technology’s sister publication). It’s the reason why the internet giants of Silicon Valley can do business in the European bloc, or at least the reason […]
Equifax breach fallout far-reaching
The fallout from Equifax’s data breach, which compromised personal data of 143 million US consumers, continues with an investigation by the US Federal Trade Commission (FTC) and Mastercard and Visa warning issuers that more than 200 million cards are at risk.
Finastra goes on a job cutting spree
EXCLUSIVE: Finastra, which emerged earlier this year from the combination of two banking tech vendors, D+H Corporation and Misys, has made a number of job cuts across its operations.
Top fintech stories this week – 15 September 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Royal Bank of Canada pilots AI-powered finance guide
Royal Bank of Canada (RBC), with the help of Personetics Cognitive Banking’s applications, will deliver two new services this autumn that provide AI-powered financial guidance and an automated savings programme through the bank’s mobile app. The development follows on from last month, when RBC unveiled these two digital services – called NOMI Insights and NOMI […]
LarrainVial finally goes live with Temenos’ T24 core banking system
Chile-based LarrainVial has implemented Temenos’ T24 platform – seven years on from signing the contract – as it seeks growth throughout the Americas including in Chile, Colombia, Peru, and the US.
FinovateFall 2017: Best of Show winners revealed
The seven companies that earned not just the admiration of FinovateFall 2017 attendees, but their votes for Best of Show, as well, have been revealed, reports David Penn at Finovate (Banking Technology’s sister company). With more than 70 companies demonstrating their technologies live on stage over the course of two days, some diversity in theme […]
Fintech accelerator round-up: 13 September 2017
Around the world, the calls for start-ups ring loud and clear. Our fintech accelerator round-up features F10, Commerce.Innovated and Huge Thing. F10, a Swiss incubator and accelerator, is calling for applications from start-ups in fintech, regtech, and insurtech for its P2 programme. Applications close on 15 December. The P2 programme will start on 5 March […]
New deals and go-live for Corelation’s Keystone core banking system
Western Vista, a credit union in the US state of Wyoming, has converted from its legacy tech to a new core processing platform, Keystone. The system is supplied by domestic vendor Corelation.
