Cennox acquires Diebold UK & Ireland business
Following the ruling of the UK’s Competitions and Markets Authority (CMA), Diebold Nixdorf has shed some of its business. Diebold UK & Ireland has been sold to Cennox.
BankingTech
Simcorp acquires investment and portfolio management tech vendor APL Italiana for €35m
SimCorp has acquired a fellow wealthtech vendor, APL Italiana, for €35 million. APL Italiana specialises investment and portfolio management software for the Italian insurance market.
NatWest pilots AI compliance technology with Recordsure
UK-based high street bank NatWest is trialling Recordsure’s regtech recording and analysis solution “to improve and monitor the quality of information and advice provided during regulated customer conversations”.
Money20/20 Europe: a finale for financial inclusion
For the finale of the final day of Money20/20 Europe, financial inclusion was discussed with resolute optimism for a bright future.
Nets and Sthaler team up for finger-vein enabled payments
London-based biometric tech vendor Sthaler is working with Nordic payments provider Nets to introduce finger-vein enabled payments to the consumer market in Europe.
Association of Banks of Singapore launches PayNow mobile payments service
The Association of Banks of Singapore (ABS) has unveiled a new funds transfer service – PayNow – that requires only a mobile and identity card numbers to enrol.
Alipay comes to Spain with BBVA
BBVA has signed an agreement with Chinese tech giant Ant Financial to enable Chinese tourists to pay in Spanish stores using the Alipay mobile wallet. BBVA is the first Spanish financial institution to be working with Alipay.
InvestCloud brings fintech incubator to London
US-based InvestCloud is going to launch a fintech incubator and accelerator at its European headquarters in Soho, London. Dubbed InvestCloud Innovation Centre, it will enable start-ups and established firms to create wealth management solutions supported by the InvestCloud platform.
Money20/20 Europe: Asia in the ascendant
Denmark took a back seat at Money20/20 Europe as the lively fintech scenes in China and India fell under the spotlight with a wealth of information and stats.
Hong Kong gets its own fintech association, FTAHK
The Fintech Association of Hong Kong (FTAHK) has officially launched “to champion an open, inclusive and diverse fintech community in Hong Kong”.
Money20/20 Europe: regtech – from here to agility
The shift from analogues to digital – according to Michael Meyer, Middlegame Ventures, during a regtech discussion at Money20/20 Europe – a major European bank he spoke with files over 50,000 pages as part of its quarterley regulatory reporting.
Money20/20 Europe: advancing APIs to a happy place
The interest from the fintech community in APIs burns brighter than a thousand suns, but where will this technology and the spirit of open banking take us?
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.
Baxter Credit Union to launch video-only branches with Vidyo
Baxter Credit Union (BCU) is launching a network of unmanned, video-only branches this year, and will be using Vidyo’s cloud-based video collaboration technology.
Verizon jumps on the AI-security bandwagon
Verizon’s venture capitalist arm has started throwing its weight around the security arena, pumping cash into artificial intelligence (AI) start-up SparkCognition.
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.
Money20/20 Europe: is banking a dead cat?
What is the future of banking? Is it a giant menu from which customers (individuals and businesses) choose who is to provide what contingent upon well-informed choice and best value. Or is it a model where banks still rule from the centre, providing customers the simplicity of a range of products through a single provider. Putting aside whether or not this highly competitive state is possible, which is the future direction of banking?
Visa invests in paytech firm and bank Klarna
Visa is investing in Klarna, a Swedish payments and banking firm, and the two firms intend “to develop a future strategic partnership”.
Money20/20 Europe: PSD2 creates more questions than answers
The second Payment Services Directive (PSD2) is creating more questions and issues than the answers it ultimately should offer.
Challenger bank Monese goes pan-European with mobile current account
UK-based digital bank Monese has expanded its current account service to 19 countries in Europe, enabling customers to open bank accounts and “bank like a local”, even if they are not a local resident.
R3’s Corda DLT platform tested for euro commercial paper issuance
Blockchain consortium R3 (which now describes itself as an “enterprise software firm”) and four of its member banks have created a prototype solution for issuance of euro commercial paper (ECP) on R3’s Corda distributed ledger technology (DLT) platform.
IBM and seven European banks team for SME trade finance blockchain project
A group of seven large European banks, Digital Trade Chain Consortium, have turned to IBM to build and host a new trade finance platform, based on IBM Blockchain powered by Hyperledger Fabric.
Mobile-only bank Pepper now live
Israel’s Bank Leumi has launched its new digital banking subsidiary, Pepper.
The rise of Islamic fintech, global opportunities for Bahrain
In its recent survey of the Islamic finance industry, S&P estimated that the sector’s total assets have now reached just over $2 trillion. Given that the modern version of Islamic finance is only decades old, this represents exceptional growth over a comparatively short period of time.
Analysis: MiFID II – the new transparency regime
Having been a fixture on the regulatory agenda for years, the go-live date for MiFID II is now rapidly approaching. On 3 January 2018, the second iteration of Europe’s Market in Financial Instruments Directive and Regulation will bring in sweeping changes to the financial markets on topics such as product governance and suitability, transaction reporting, commodities position limits and transparency.
Money20/20 Europe: let AI negotiate
Are trends eclectic for artificial intelligence (AI)? Perhaps not as the fintech world is getting more imaginative and calling for the machines to negotiate on behalf of less-than-objective humans. At this morning’s (26 June) sessions at Money20/20 in Copenhagen, the themes of AI use cases in financial services and fraud were discussed.
mBank moves into fintech vendor space with new digital banking system
Poland-based mBank has started to license its mobile and online banking system to other financial institutions outside Poland. The first taker is La Banque Postale (LBP) in France. The implementation will be carried out with the help of Accenture, mBank’s “strategic partner”. Alice Holzman, director of digital at LBP and lead of the bank’s New […]
The Monday mindset: 26 June 2017
Fintech zeitgeist! Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye. This week, Banking Technology’s editor Tanya Andreasyan looks at one bank that has managed to successfully converge its digital and “brick and mortar” journeys […]
Insurtech firm Clark and N26 launch digital insurance service
Clark, a German insurance robo-advisor, has inked a deal with mobile bank N26. Clark says its Bancassurance-API will help customers of N26 “to better understand their current tariffs and improve their insurance situation”.
Backbase scores fintech deal in Norway with SSF Bank
Norway’s Sparebanken Sogn Og Fjordane (SSF) Bank is modernising its digital banking tech with Backbase.
Starling Bank expands to Ireland, eyes “the whole world”
London-based challenger bank Starling has received a banking passport into Ireland. The bank says this is “its first step in its plans to provide services to European markets”.
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.
Venmo tests physical debit card
Venmo is planning to introduce a physical debit card to supplement its payments app.
Canadian robo-advisor Wealthsimple arrives in UK
Wealthsimple, a Canada-based online investment management service, is coming to the UK.
Starling Bank preps for future with new features
UK challenger bank Starling has launched a “Spending Insights” tool and an online community for its users – and it is setting out its future plans. Spending Insights is probably self-explanatory. It works in the app and the bank says it gives users ideas about where they can save money. It shows customers how much […]
ZineOne is the one for HDFC digital banking hub
India-based HDFC Bank has selected Silicon Valley start-up ZineOne to improve its digital banking offerings. The bank will deploy ZineOne’s Customer Interactions Hub (CIH), which will establish a single customer identity and “bring real-time, contextual, and omni-channel functionality” to interactions across businesses, applications and digital properties including web applications, mobile apps, digital wallets, website, kiosks […]
Banco de Mexico revamps risk management tech with Finastra’s Fusionrisk
Banco de Mexico, the country’s central bank, is replacing its legacy risk management software with Finastra’s Fusionrisk.
Top fintech stories this week – 23 June 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
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.
