FIS and the Arkansas-based entrepreneur support organisation Venture Center have revealed the ten start-ups for their 2017 VC Fintech Accelerator, now in its second year. The 2017 programme received 295 applications from across the US and 39 other countries. The selected companies (all American, bar one) will participate in a 12-week programme designed to accelerate […]
As Temenos is now setting its sights on US banks and FIs with assets over $1 billion, smaller community banks using Trinovus’ Trinisys core system need to find new providers. Trinisys will be sunsetted in June next year.
Apple Creek Bank, a $140 million financial institution with six branches in the US state of Ohio, is modernising its technology with Fiserv. The bank will implement the Precision core processing platform, delivered on a hosted basis, plus a host of auxiliary solutions from Fiserv.
Delaware-based Dover Federal Credit Union has opted for the Episys core system for in-house processing from Jack Henry’s Symitar subsidiary. According to Symitar, Dover FCU’s chief innovation officer, Travis Frey, had encountered Episys at two prior credit unions, and was “confident in the flexibility and scalability of the system”. Frey says its core selection process […]
Pennsylvania-based AmeriChoice Federal Credit Union has launched a new online banking platform based on the Symmetry e-banking software from Wescom Resources Group (WRG).
KeyBank, Fifth Third Bank and JP Morgan Chase are funding and backing a new Ohio-based accelerator, Fintech71 – a nod to the cross-state highway I-71 connecting Ohio via its three largest cities, Cincinnati, Columbus and Cleveland. The accelerator will focus on growing entrepreneurial activity in Ohio and offer mentor and partnership options. Finalist teams will […]
Kansas-based CrossFirst Bank has implemented nCino’s Bank Operating System for its commercial loan process. nCino’s cloud-based solution is built on Salesforce.com. The vendor says it combines customer relationship management, loan origination, workflow, enterprise content management, business process management and instant reporting on a single platform. Amy Fauss, chief operating officer at CrossFirst Bank, says nCino’s […]
The clock is winding down for US Congressional lawmakers to repeal the Consumer Financial Protection Bureau’s (CFPB) final prepaid accounts rule under the Congressional Review Act (CRA), reports Paybefore (Banking Technology‘s sister publication). Under that law, Congress has until 9 May – 60 legislative days after the law was published in the Federal Register – to repeal […]
FinovateSpring 2017 in San Jose, US, concluded with its first ever panel discussion! “Our panelists will recap the key demos and help put the innovations on display into a broader context,” the conference organisers said.
Wished you were at FinovateSpring in San Jose but missed it? No worries – we’ve got it covered. A comprehensive overview of the two-day conference – session by session.
The US payroll card industry received high marks for its standards and its ability to “stretch beyond the basics” but got an average mark for its ability to provide additional services that “improve customers’ lives,” reports Paybefore (Banking Technology‘s sister publication). According to the first-ever “Payroll Industry Scorecard” from the Center for Financial Services Innovation […]
Two small credit unions in the US state of Maryland, Perry Point Federal Credit Union and Central Credit Union of Maryland (CCUMD) have merged.
Lehigh Valley Educators Credit Union has gone live with a new core processing platform, Keystone, supplied by Corelation. The Pennsylvania-based credit union stated its tech renovation project last year.
The US Consumer Financial Protection Bureau (CFPB) is the target of a bill that includes myriad changes to its responsibilities and structure, reports Paybefore (Banking Technology‘s sister publication). US representative Jeb Hensarling (Republican, Texas) has pulled the trigger, reintroducing legislation that has the Dodd-Frank Act squarely in its crosshairs. The act comprises major changes to […]
Connecticut-based Liberty Bank has chosen Geezeo’s retail and business financial management solutions for more data and insights for its customers. Geezeo is a white-label personal financial management (PFM) provider for banks and credit unions in the US. The bank will use “Responsive Tiles” – which offers digital money management features that can be integrated into […]
The power of payments keeps on driving revenue growth upwards for Fiserv – with some healthy Q1 2017 results. GAAP revenue for the company increased 5% in the first quarter to $1.39 billion, driven by 6% growth in its payments segment and 4% growth in its financial segment, compared to the first quarter of 2016. […]
Jack Henry’s subsidiary Symitar has set a new record with the addition of six new US credit unions to its Episys core processing system in one fiscal year. All of these credit unions have more than $1 billion in assets and Symitar says getting six new relationships in one fiscal year breaks its previous record […]
She witnessed the rise of electronic transactions and worked on the first shared ATM network card. Now this self-proclaimed pioneer woman has her sights set on prepaid and a mobile future.
USAmeriBank (formerly Aliant Bank), a $3.8 billion bank operating in the US states of Alabama and Florida, is building a new payments hub for its domestic and international wire transfers.
California-based core banking software vendor Corelation has added three more customers to its list. These are Blue Eagle CU, Brazos Valley Schools CU and Long Beach City Employees FCU.
It’s official. The US Consumer Financial Protection Bureau (CFPB) is pushing back the effective date of its final rule on prepaid accounts until 1 April 2018 – six months after the originally scheduled implementation date of 1 October 2017.
Plastc, a US fintech start-up that created a card that could digitally hold 20 credit or debit cards, is filing for bankruptcy.
SouthEast Bank, a $1.2 billion financial institution in the US state of Tennessee, is implementing Fiserv’s DNA core banking system and a range of auxiliary solutions from the vendor.
Prepaid complaints to the Consumer Financial Protection Bureau (CFPB) in the US hit 2,500 in 2016, accounting for about 0.9% of the 291,400 complaints in agency’s latest Consumer Response Annual Report.
The recent performance of Zelle Network, the peer-to-peer (P2P) payments platform with the funny name, is no laughing matter for competing P2P providers.
Aaron Cutler, partner, and Loyal Horsley, associate at Hogan Lovells, examine the state-level fintech regulation, proposed legislative solutions, and provides a brief overview of international regulation.
US-based Silicon Valley Bank (SVB) has launched new APIs to let its clients programmatically open bank accounts, and send payments using a credit card network and via the automated clearing house (ACH) network. Dan Kimmerling, director, API banking at SVB, says its goal this year is to “develop a broad array of APIs” and wants […]
Two small banks in the US state of Ohio, Southern Hills Community Bank and Ripley Federal Savings Bank, are to merge. The consolidated entity (with the assets of $150 million) will outsource its core processing operations to Connecticut Online Computer Centre (COCC).
Coca-Cola Credit Union in the US state of Georgia is modernising its online and mobile banking with Bankjoy, and its back office tech with Corelation.
Addressing the views of the Department of Treasury, the CFPB, and the SEC on the regulation of the fintech industry in the US.
Two federal credit unions in the US, People First in Pennsylvania and Greater Alliance in New Jersey, have converted to new core processing software. Both are now live on the Keystone platform supplied by domestic vendor Corelation.
North Carolina-based North State Bank has gone live with nCino’s Bank Operating System to centralise and automate its commercial loan process. nCino’s cloud-based solution is built on Salesforce.com. The vendor says it combines customer relationship management, loan origination, workflow, enterprise content management, business process management and instant reporting on a single platform. Last month, Valley […]
US-based Silicon Valley Bank (SVB) and First Data are calling on US start-ups to apply for their latest Commerce.Innovated accelerator programme. The four-month virtual programme provides participants with operational mentorship from the pair’s respective networks. Reetika Grewal, head of SVB’s payments strategy and solutions group, says its “small class size allows us to work closely […]
Cachet Financial Solutions is working with Central Bank of Kansas City (CBKC) to bring mobile-optimised prepaid programmes to community banks. The two companies have also teamed with Rebar Interactive to provide Select Mobile Money-Express, a platform that includes a Mastercard-branded prepaid card.
Wells Fargo and data aggregation provider Finicity have signed a deal that provides an API-based method for sharing Wells Fargo customer information with the financial apps and services that Finicity supports.
An overview of the current fintech regulation in the US by the prudential regulators: the OCC, the FDIC, and the Federal Reserve.
Iroquois Federal Savings & Loan Association, a $580 million entity in the US state of Illinois, is modernising its front-to-back office technology with Fiserv.
Valley National Bank, a $23 billion financial institution in New Jersey, is implementing nCino’s Bank Operating System for commercial lending.
Wells Fargo will pay $110 million to settle a class action lawsuit brought by US consumers over a scandal about fake accounts its employees set up for customers without their knowledge. But the trouble continues for the bank, which has received a dim evaluation from a federal regulator.
US-based tech provider FLEX has moved eight credit unions to its core processing software over the last year and made inroads “into the warmer climes of Hawaii”.
