Japan Exchange Group (JPX) is building a real-time clearing solution for its listed derivatives market with the help of specialist provider Cinnober. Sweden-based Cinnober is providing JPX with its flagship Tradexpress clearing platform. JPX’s listed derivatives market is operated by the Osaka Securities Exchange (OSE) and cleared by the Japan Securities Clearing Corporation (JSCC). JPX […]
A quiet revolution powered by the force of data science has begun to deliver significant improvements in many areas including national security, business intelligence, law enforcement, financial analysis, healthcare and disaster preparedness. But are we ready to use the force in banking? Standard Chartered’s global chief innovation officer, Anju Patwardhan, explores the topic. Digital data […]
Banks and fintechs should collaborate rather than compete, leveraging their respective strengths to revolutionise the B2B payments space and create sustainable business models in today’s digital era. As the next stages of digital structural change continue to transform financial services, the focus of technological developments will shift. Most recent developments in business models have been […]
Barclays is leaving Africa as it looks to consolidate the group and increase shareholder returns after a 2% drop in full-year profit. The bank will sell its 62% stake in Barclays Africa Group Limited (BAGL) over the coming few years and then focus on two divisions – Barclays UK and Barclays Corporate and International. BAGL […]
As financial institutions across the board gear up for 2016, the year ahead poses some notably regulatory challenges. Not least among these is the impending Market Abuse Regulation (MAR) from the European Commission; there will also be further progress on MiFID II. On 3 July this year, an event will take place which will mark […]
As the European Commission finally confirms an implementation date for MiFID II, Volker Lainer of GoldenSource explains why now is the time for financial institutions adopting a quick fix approach to regulation to reconsider. After waiting and wondering, financial institutions finally have a firm date of January 3rd 2018 for MiFID II compliance. Whether this […]
German digital bank Number26 and TransferWise, a UK-based international money transfer platform, have teamed up to provide Number26 customers with direct “in-app” access to TransferWise’s service. Number26 co-founder and CEO Valentin Stalf says the company wants banking products to be “accessible to customers with one tap, creating a fintech hub inside the Number26 app”. The […]
Vietnam-based Techcombank has gone live with Misys’ FusionCapital software. The new platform – based on Misys’ FusionCapital Kondor product – supports treasury and capital markets (TCM) operations at the bank. The deal was inked in November 2014. Techcombank opted to work with Misys as it has offered “a configurable, fast and cost-effective analytics platform”, explains […]
Crealogix’s subsidiary Elaxy Financial Software & Solutions will roll out a hybrid consulting platform at Bankhaus August Lenz in Germany. The solution, developed in nine months, is ready for MiFID II (markets in financial instruments directive) and PRIIP (packaged retail and insurance-based investment products) regulations. It is also integrated into the bank’s online banking system […]
As established banks migrate to a digital era, new entrants in the German market are threatening to seize the moment. “We see a change in society; in the way that smart phone adoption feeds back into the way we run our business,” says Andreas Vollmer, chief IT architect of Commerzbank. “It is not just about […]
Kevin Mountford, CEO of PBF Solutions, examines the key steps that new entrants to the UK banking sector need to take to attract customers and drive deposits. Challenging is one thing, but gaining a firm foothold in the UK banking sector is another, especially as the number of new entrants grows. From 2013 to mid-2015, the […]
British Arab Commercial Bank (BACB) is looking to modernise its core software. It is believed the bank has settled for a new platform – Temenos’ T24. BACB is a London-based wholesale bank that specialises in trade finance and treasury services to Africa and the Middle East. The bank has been in the system selection mode […]
Distributed ledgers have a role to play in identity verifications, but there are potential pitfalls, state Professor Michael Mainelli and Vinay Gupta. They are increasingly touted as the answer to the identity problems plaguing finance and government. They may well be part of the answer, but more important is recognising they are only tools to help […]
The European Commission’s upcoming PSD II legislation will bring big changes to the payments landscape in Europe. Banking Technology talks to Jerry Norton, VP of financial services at CGI, to find out more. In October, the European Parliament gave its approval to the level one text of the Payment Services Directive II, which aims to further the […]
US core banking software vendor Nymbus has teamed up with Geezeo, a white-label personal finance management (PFM) provider for banks and credit unions. Nymbus launched last year with a flurry of Star Wars-inspired quotes. It is looking to work with financial institutions (FIs) and compete with banking behemoths and the neo banks. The vendor sees […]
Paris-based Sopra Steria plans a tie-up with Cassiopae, a developer of specialised finance management software. Sopra Steria plans to acquire, through its subsidiary Sopra Banking Software, about 75% of KSEOP, Cassiopae’s holding company. The founder and his family, and certain managers including the current chairman of Cassiopae, Emmanuel Gillet, will retain about 25% of the […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Fiserv’s CUnify core processing system bags 25 US credit unions More good news for the US software vendor. IBM delivers blockchain-as-a-service for developers Code to joy… nearly 44,000 lines made available. Potential “merger of equals” between Deutsche Börse […]
In 2016, retail banks are facing up to their biggest challenge. A combination of new market disrupters, increased regulation and the continuing pace of technology change is set to transform the industry, shifting power firmly to the consumer. Natalie McLellan, director of financial services at consultancy firm Egremont, offers her insight. Many commentators argue that […]
Payment firms i2c and TIS have formed a strategic partnership to standardise prepaid payment solutions on the i2c processing platform. Under terms of the multi-year partnership, Japan-based TIS will adopt i2c’s cloud-based platform as its standard for prepaid card processing and expand its use to support credit and debit card payment processing in “key Asian […]
The UK’s Payment Systems Regulator (PSR) says banks should sell their stake in the nation’s payments infrastructure, VocaLink, to “help increase innovation and competition”. The PSR has published its provisional findings of its market review into the ownership and competitiveness of the infrastructure that supports the payments systems; Bacs, Faster Payments System (FPS) and LINK. […]
Bank Leumi (UK), based in London and part of the Bank Leumi Group, is replacing its existing corporate online banking system with Infosys’ Finacle e-banking solution. It will be interfaced to the bank’s long-standing core banking system, Misys’ Midas. The bank wants a system to “offer new products, provide additional functionality, and future-proof capabilities as well […]
HSBC in Germany will use Swift’s Value Added Network (VAN) solution to connect to Target2-Securities (T2S). VAN Solution enables T2S participants to connect to the new pan-European securities settlement platform for the exchange of business information in ISO 20022. Other banks and central securities depositories (CSD) that have signed with Swift for T2S connectivity include […]
EQ Bank, a new pure-play digital bank in Canada, has opened its virtual doors. It is underpinned by the front-to-back office software from Temenos. The bank is using Temenos’ T24 core banking system at the back-end and Temenos Connect for digital channels at the front-end. It is also using Insight BI for business intelligence and […]
This webinar will look at how real-time ubiquity and reach are crucial and collaboration is the winning strategy. As real-time continues to evolve, join us to discuss how it opens up opportunities.
Avaloq Sourcing Switzerland, Avaloq’s business process outsourcing (BPO) subsidiary (previously B-Source), has migrated KBL Switzerland to the BPO platform of Banque Internationale à Luxembourg (BIL Suisse). The BPO solution is based on the vendor’s flagship core banking platform, Avaloq Banking Suite, and the migration took five months. BIL Suisse acquired the Swiss subsidiary of KBL […]
Indiana-based Old National Bank has selected SS&C Technologies’ online customer foreign exchange (FX) trading portal. The move comes on the back of an increase in FX related activities at the bank, and it says it will use SS&C’s web-based solution to provide commercial, corporate and institutional customers with direct market access. The portal will deliver […]
UK-based Genesis Investment Management, a long-standing customer of Simcorp, has implemented the vendor’s client communication and reporting solution, Coric. The system has been deployed on an outsourced basis, hosted on the Microsoft Azure cloud. According to Simcorp, the project was completed in four months. As the result, the client reporting efficiency has improved by more than […]
Around the world, banks and central banks are pursuing options for real-time payments. Many countries already have faster payments solutions, and in the U.K. we’ve seen payments volume grow exponentially as it becomes easier to send and receive payments.
Nationwide Building Society has chosen Tech Mahindra, an Indian IT services company, to provide network and infrastructure services in a five-year partnership agreement. The building society’s ambition is to connect its UK retail operations, comprising around 700 branches to more than 15 million customers. It also plans new services in its branches, such as Nationwide […]
Over the last few years, technology infrastructures have become increasingly complex and expensive to manage. At the same time, IT budgets have been cut, leading to companies finding it hard to provide and maintain IT infrastructures. Dana Brants, head of services at Swift, looks at what companies can do under the circumstances. Due to costs, […]
Swift’s Innotribe Start-up Challenge is to be unveiled in Latin America. The best fintech start-ups will be able to showcase their products at the Swift’s Latin American Regional Conference (LARC) this summer. Get your applications in! This is the first time the Swift innovation arm – Innotribe – has partnered with LARC, which will take […]
Temenos is refinancing its existing banking facilities to the tune of a $500 million new facility. The Swiss software vendor says it has “taken advantage of current market conditions to lock in low-cost long term financing” through a new $500 million banking facility, consisting of a five-year revolving credit facility which expires in 2021. The […]
Join us for this complimentary webinar as our panel of industry experts discuss faster payments initiatives globally, with a focus on key issues and considerations for financial institutions and corporates alike, including: managing cross-border payments, faster Payments models, the legal framework, payments risk & anti-money laundering.
Veridian Credit Union, a $2.95 billion credit union in Iowa, is implementing Alkami Technology’s ORB platform for digital channels. The new solution will replace a legacy set-up, which includes a mobile banking offering from another US provider, Clairmail (now part of Monitise). Clairmail was selected by Veridian back in 2009. In 2012, the vendor was […]
Broadridge Financial Solutions has taken a minority stake and entered into an exclusive distribution and marketing alliance with Netherlands-based management consulting firm AMA Partners. AMA provides DirectorInsight, a platform offering data and analytical tools for the evaluation of corporate governance and executive compensation. Broadridge says the deal expands its data capabilities for corporations and institutional […]
Fiserv has revealed that 25 US credit unions, with approximately $2.5 billion in assets and 250,000 members collectively, have committed to its CUnify account processing platform. Five of these credit unions are new core processing clients of Fiserv, and will be converting to CUnify in the course of 2016. CUnify is a core platform used […]
Libya-based Aman Bank has gone live on Oracle FSS’s Flexcube core banking system – with Oracle’s long-standing integrator JMR Infotech carrying out the implementation. The bank has ditched its legacy system iBank, from Tunisia-based Idee, and Rui Cupertino, deputy chairman at Aman Bank, expects the new system to “deliver significant improvements” and describes it as […]
Iranian banks are being reconnected to Swift’s international payments system after a four-year hiatus. Following the lifting of economic sanctions last month under the nuclear deal with world powers, Iran’s Central Bank and 15 other banks have restored access to Swift. The Central Bank says: “The on-boarding process including administrative and technical measures for all […]
In its latest report “Breaking Down Buy Side Barriers: Achieving Alpha through Agility,” analyst firm TABB Group has found that investment managers are struggling to cope with trade life cycle errors as a consequence of technology failure. Support for all asset classes and security types, multiple currency transactions, geographical locations and asset allocation strategies is […]
Matthew Blanchard, Head of Incentive Compensation, IBM UK&I, explains to Banking Technology why automation is necessary and how firms can improve their bottom line.
