BankingTech - FinTech Futures

BankingTech

Seen it all before

All banks are the same, but in profoundly different ways.

White paper: How top companies are better mitigating fraud & enhancing CX with Phone-Centric Identity

Nine of the top ten banks use Phone-Centric Identity to mitigate fraud. Do you?

White paper: Data’s evolution in the cloud – financial services’ long-time data advantage

New research by The Economist about the banking industry’s attitudes, progress, and aspirations for leveraging data.

SaaScada Paul Payne

Core banking firm SaaScada hires Paul Payne as new CTO

New core provider on the block builds out executive team.

Lloyds and Mastercard sign open banking payments partnership

The new platform, PayFrom Bank, utilises Mastercard’s Payment Gateway technology.

Unlocking the benefits of cloud

Migrating operations to the cloud is a challenge for even the most digitally focused organisation.

Commerzbank to write off €200m after scrapping outsourcing project with HSBC

The bank cites implementation risks and changed market conditions as the reasons behind its decision.

Sandro Bucchianeri

Former Absa exec joins NAB as new chief security officer

Sandro Bucchianeri announced his departure from Absa at the start of the month.

Fintechs will be at the heart of the next wave of security wars

Hackers are rapidly adapting their tactics to target features of modern fintechs.

Tesco Bank

Tesco Bank set to close all personal current accounts by November

Bank to close all 213,000 existing accounts as many show “limited activity”.

Starling makes Fleet Mortgages its first acquisition with £50m deal

UK challenger looks to expand into mortgages as an asset class.

UK government plans further sale of state-owned NatWest shares

NatWest plans to be fully private by 2026.

Russian central bank asks exchanges to avoid cryptocurrency firms

Bank of Russia asks stock exchanges not to list crypto-adjacent companies.

Bank of Ireland to acquire Davy in €440m deal

Davy is also selling Davy Global Fund Management and its shareholding in Rize ETF to other third parties.

ICYMI funding round-up: Credit Fair, Plooto, Xclaim, Weavr & more

Another batch of funding rounds that might have flown under your radar.

Dear Luc: What’s the deal with embedded finance?

This week some writes in to ask: how can I get on the embedded finance bandwagon?

Santander UK launches cash management platform with Infosys Finacle

Santander Global Connect will roll out in phases through the year.

Revolut

Revolut picks Equifax as UK data and analytics provider

Revolut’s app is now powered by Equifax cloud-based data in both the UK and US.

afterpay

Afterpay to launch lifestyle app Money on Westpac tech

BNPL firm aims to make Money a primary account for users.

Open banking myths

We are still at the start of the journey with open banking and have yet to see its full potential.

UBS pays $8m to settle SEC compliance charges

US regulator found failings in the bank’s handling of exchange-traded products.

The time before things happen

Imagining and creating things is hard, but you don’t have to do it all yourself.

Cambridge Savings Bank launches new digital banking solution

Ivy Bank will act as a digital-only division of CSB.

Alex

Australian fintech Alex secures banking licence from APRA

It’s the first licence to be handed out by APRA in 18 months.

OneFamily goes live with iPipeline’s SSG Digital

UK-based OneFamily seeks more flexibility and adaptability.

Nomo launches as UK’s newest Islamic digital bank

The new challenger is a subsidiary of Kuwait-based Boubyan Bank.

New banking service Dion.Money plans August launch in the UK

Fledgling challenger to run paid-for accounts and offer “personalised” service.

How COVID-19 has accelerated the use of digital banking solutions in Africa

The past year has seen a clear trend towards the adoption and acceleration of digital banking products.

Finnovex Southern Africa – 27th and 28th July 2021

The event, being organised by Exibex, will be held virtually.

ECB agrees to move forward to investigation phase of digital euro project

Work will now focus on functional design and prototyping and will involve focus groups.

Classic product placement has had its day

Product placement is easily recognised by the customer and viewed negatively.

AI and machine learning spearheading rapid change in data reconciliations

The industry is moving towards Reconciliations-as-a-Service, says SmartStream’s Robin Hasson.

Video: fintech news pick of the week – Revolut, Lunar and the UK fintech sector

Our top pick of news from the world of finance and tech in bitesize video format, twice a week.

M1 Finance

M1 Finance secures $150m in SoftBank-led funding round

The firm claims the investment now takes its total valuation to $1.45 billion.

White House backs US open banking reform

The Biden Administration is looking to tackle the slow progress of open banking in the US.

What the hell happened to help?

Banks could do more to provide financial education, guidance and advice to customers.

Railsbank lands $70m investment to drive global expansion

The round follows a $37 million fundraise in November last year.

Fifth Third Bank picks FIS to power digital transformation

The bank will deploy FIS’s Modern Banking Platform (MBP) and Unity Wealth Platform.

State of play: digital banking platforms

Selecting the right digital banking platform is a lengthy process that requires careful consideration.

This is not a drill

Make sure you don’t write yourself out of your own story, as life happens.

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