ITSS upgrades Temenos’ T24 core banking system at Suez Canal Bank
Banking software provider and integrator ITSS has completed the upgrade of Temenos T24 core banking system at Suez Canal Bank (SCB) in Egypt.
BankingTech
Core banking system & consultant selection at NRS Sacco in Kenya
A savings and credit co-operative society in Kenya, NRS Sacco, is looking to renovate its core software, and has issued a call for a new software provider. It is also looking to procure consultancy services to help it with system selection.
Sibos 2016: De-risking in Africa
Correspondent banking enables banks to access products and services which might otherwise be unavailable. By enabling cross-border transactions and access to overseas products, correspondent banking plays an important role in the global payments landscape, states Swift.
Top fintech stories this week – 7 October 2016
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Deutsche Bank pledges commitment to GTB and digital
“Transaction banking will undergo a change of character,” states the global banking giant.
AI at RBS for TLC
Royal Bank of Scotland (RBS) has installed advanced “human” artificial intelligence (AI) to help its staff answer customer queries. The bank says a two month trial has been “successful “and the AI, known as ‘Luvo’, is to be rolled out more widely to support employees, and perhaps bring some tender loving care (TLC) with it. […]
Bakhtar Bank opts for Oracle Flexcube core banking system
Bakhtar Bank, a wholly owned subsidiary of Azizi Bank in Afghanistan, has selected JMR Infotech to implement Oracle FSS’s Flexcube core banking system. Banking Technology understands that Flexcube will replace Malaysia-based Infopro’s ICBA, which had been in use since 2009. Azizi Bank also selected Flexcube as its core system. The deal was signed in 2014. Amer Khalil […]
Atom Bank opens doors to all UK customers
There’s nothing better than going all the way. Challenger bank Atom is now fully open for all customers in the UK. Atom initially launched with an “invitation only” phase, but as of today (6 October) anyone can download the Atom App, both in IoS and Android, and open an account. The App is available to […]
SIBOS Interview: How is digitisation and changing expectations driving change?
Erik Zingmark and Peter Hupfeld, Co-Heads of Transaction Banking, Nordea, talk about how a changing world is changing banking.
Bank of Lithuania and Revolut team up for payments
Bank of Lithuania, the country’s central bank and regulator, has signed a memorandum of understanding with UK-based payments and fintech start-up Revolut. Revolut intends to set up a financial institution in Lithuania and obtain a banking licence. Bank of Lithuania will provide Revolut with access to its managed payment systems enabling cross-border payments in euro. […]
SEB deploys IPsoft’s virtual agent, Amelia, for customer facing ops
SEB will be the first bank to use IPsoft’s cognitive technology for customer-facing operations in the Swedish language. The artificial intelligence (AI) solution, known as Amelia, will be integrated into the front-office set-up at SEB by the end of this year.
Relocation: technological and infrastructural risks
Cost savings are not the only thing to consider when relocating your business. Applications, systems, hardware and people are all being moved and a seamless transition is essential to ensure there is no downtime and no risk to your reputation or finances. Most people see international relocation as a cost-saving initiative but if that is […]
Idaho Central Credit Union opts for Alkami ORB platform
US-based Idaho Central Credit Union (ICCU) has launched on Alkami Technology’s ORB digital banking platform – integrating with ICCU’s Fiserv DNA core platform. The new platform offers features such as automated clearing house (ACH), wires, bill pay, external transfers, dual authorisations, entitlements and payment templates. Shannon Marshburn, ecommerce product manager at Idaho Central Credit Union, […]
Swift smart modules seek stronger security
Swift has published a series of eLearning modules as it ramps up its cybersecurity defences in the face of hacking threats. The SwiftSmart modules will help its customers operate their Swift environment “securely and in-line with best practice”. The move is also a “critical part” of its Customer Security Programme launched in May 2016. That […]
Avaloq locks on innovation with developer portal launch
Innovation gets more adoration as Avaloq is opening up to developers with a new portal activation. It says freelancers, start-ups, fintechs and banks will be able to innovate jointly using a dedicated online portal. Through this site, the developer community can commercialise technologies and share results within the community and the “entire Avaloq community”, which […]
IDFC Bank deploys new revenue management platform, SunTec’s Xelerate
Pricing and billing software specialist SunTec has implemented its flagship Xelerate platform at India’s challenger bank, IDFC Bank.
Fidor and Abu Dhabi Islamic Bank unveil digital bank
Abu Dhabi Islamic Bank (ADIB) has partnered with Fidor Bank to launch the region’s first “community-based digital bank”. Specifics are very thin on the ground as the bank will have “new services, features and [an] online community”, which will be available for existing and new customers to sign up to in the upcoming months. Can’t […]
Sonali Bank UK to go live with Intellect Design Arena’s core system “in near future”
Four years on since the start of the project, Sonali Bank UK is yet to go fully live with a new core banking system, Intellect Core Banking. The operations are “partially automated”, says software supplier Intellect Design Arena, but assures that all parties are committed to the project and will compete it in “near future”.
Avaloq core banking implementation at BHF-Bank put on hold
Avaloq’s implementation of its Avaloq Banking Suite at BHF-Bank in Germany has been put on hold due to differences in the interpretation of the contract. Avaloq tells Banking Technology that it is “not due to technical reasons” and it “continues to engage in conversations” with the bank. Philippe Oddo, chairman of BHF-Bank, adds that he […]
Bank of Ireland chooses Temenos for core banking revamp
Bank of Ireland has selected Temenos’ T24 core system, Temenos Connect for digital and Insight BI for analytics as part of its five-year €500 million revamp plans – aka Project Omega.
Queensland Country Credit Union in core banking overhaul
Australia’s Queensland Country Credit Union is replacing its core banking legacy systems and going digital with the help of local vendor Data Action (DA). Adelaide-based DA will be supplying its core banking and digital systems, DA CBS and DA Digital Banking respectively. At the front end, the credit union will get a new internet banking […]
ING axes 7,000 jobs in digital banking drive
Dutch bank ING is cutting 7,000 jobs as its push to digital banking goes full throttle. In its strategy update “Accelerating Think Forward”, CEO Ralph Hamers and other executives will introduce a number of initiatives – such as investing €800 million in digital transformation from 2016 to 2021. The bank says its programmes will also […]
HDFC Bank picks Backbase for digital banking revamp
India-based HDFC Bank has selected Backbase to deliver its new digital omnichannel banking platform, running both its online and mobile banking apps. The mobile banking app, digital banking portal, and web site will run on the Backbase Omnichannel Digital Banking Platform. Backbase will combine HDFC Bank’s existing core banking and back-end applications with its platform. […]
Can banking “catch” the Pokémon bug?
Pokémon Go has taken the globe by storm, capturing the hearts and minds of adults and children alike in their endeavours to “catch ‘em all” in the latest version of the popular computer game, which builds cutting edge augmented reality (AR) technology into its original gameplay. What can banks learn from it?
Loved up couples get the Simple Shared account touch
If you and your partner can never be apart or believe your love has more intensity than Romeo and Juliet, then keep holding hands and read on. US-based Simple, “a tech company, not a bank”, has launched the “Simple Shared” account. It’s a bit like a joint account, but people get two cards and one […]
apoBank evaluates Avaloq Banking Suite
Germany-based Deutsche Apotheker-und Ärztebank (apoBank) is considering the implementation of Avaloq’s flagship core banking system. The two parties have signed a contract to “analyse and elaborate how far the execution of the apoBank IT strategy can be based on the Avaloq Banking Suite”, Avaloq says. The bank – which primarily focuses on servicing the healthcare […]
Top fintech stories this week – 30 September 2016
Catch up on Banking Technology’s top five fintech stories of the week – all in one place – and all with a Sibos touch! Blockchain: be ready to ‘fail fast and fail cheap’ Wouldn’t it be better to succeed in the first place? Innotribe plots rise of new fintech hubs A tribe calling for a […]
Sibos 2016: Key highlights. Banking Technology editor on Good Morning Sibos TV
Tanya Andreasyan, Banking Technology’s editor, chats with Sibos TV hosts about the highlights and key themes of Sibos 2016, collaborative efforts within the industry to tackle cybersecurity threats, and the circles of the Brexit hell (we are now in circle one – Limbo).
Sibos 2016: What awaits us? Banking Technology editor on Good Morning Sibos TV
Tanya Andreasyan, editor of Banking Technology, talks to Sibos TV hosts about various collaborative efforts within the financial services industry, innovation and disruption, and banks’ newly-found love for fintechs. Hug a fintech!
Daily News at Sibos top photos and captions – Day 4
Top pics and captions from Swift’s Sibos 2016 conference in Geneva! A compilation from day 4.
Daily News at Sibos 2016 – Day 4
Read our fourth and final Daily News at Sibos edition of the Sibos 2016 conference in Geneva – all the latest news and analysis from Swift’s premier event of the year. Free to read online or pick up a complimentary print copy if you are at Sibos!
Ericsson rolls out mobile remittance in emerging markets
Ericsson has joined forces with HomeSend, a joint venture between Mastercard, eServGlobal and Bics that focuses on mobile money remittances in emerging markets. Ericsson’s digital wallet, Ericsson Wallet Platform, is now HomeSend Certified. The product has access to HomeSend’s network of money transfer operators, cash agents and banks in more than 200 countries. Peter Heuman, […]
Sberbank goes blockchain with Hyperledger Project
Sberbank and the Linux Foundation have entered into an agreement on the bank’s participation in the Hyperledger Project. The deal was signed at the Sibos conference in Geneva and Lev Khasis, first deputy chairman of the executive board of Sberbank, said the new development with Hyperledger, and its open source platform based on blockchain, offered “access to […]
Digitising Azerbaijan
The International Bank of Azerbaijan has partnered with Backbase to implement its omnichannel digital banking platform. With the platform, the bank will be able to provide its products and services to customers through multiple channels synchronously, creating a single multimodal touch point. The contract was signed yesterday onsite at Sibos at Backbone’s booth, between Jouk […]
Sibos 2016: collaboration will energise ISO 20022
To drive ISO 20022 adoption, the industry is calling for collaboration and for those with the ‘right stuff’ to lead the way. A panel yesterday, ISO 20022 market practice developments, gave a global view of the status of ISO 20022 in the payments and securities markets. Gerard Smith, director collateral services at LCH.Clearnet, said the […]
Blockchain: be ready to ‘fail fast and fail cheap’
Correspondent bankers have been advised to “fail fast and fail cheap” when it comes to blockchain technology. During the Blockchain and correspondent banking – The way to go? session yesterday, a panel explored the possible use cases and barriers to adoption of blockchain technology – one of the most talked about technologies at this year’s […]
Meeting hackers head-on
Online hacks are rapidly replacing the bank heists of old. With banks increasingly at risk, early threat detection is imperative. Eleonore Fournier-Tombs* explains how banks can protect themselves. In a climactic conclusion to an insider threat story that has been developing since 2015, Morgan Stanley agreed to pay a fine of $1 million to the […]
Innotribe plots rise of new fintech hubs
A decade ago, cities fought to be financial hubs; today they fight to be financial technology (fintech) hubs. While London, New York and Silicon Valley claim strong status as fintech hubs, Sibos has proved that there are plenty of emergent centres snapping at their heels. Innotribe’s Startup Challenge, which brings fintech companies to the attention […]
Financial technology: gathering speed
Financial regulators globally are putting pressure on financial institutions to move to real-time solutions in both retail and wholesale banking. Advances in technology and a desire by regulators to reduce risks in the financial system are driving the trend. Discussions about real time technology and solutions span the banking world at this year’s Sibos. While […]
Blockchain and DLT a slow burn for CSDs
Blockchain innovation for central securities depositories (CSDs) is a slow burn and one that can divide opinion. During the Innovation in CSD space: What about distributed ledger technology? session yesterday, some panellists argued that the technology would hail the end of CSDs while others said there would be no revolution, just a “natural evolution” of […]
