Apple Pay, Google Wallet, voice payment, payment in messaging apps, Bitcoin, merchant-led solutions, bank-owned solutions. Payment options — driven by a whirlwind of new technology and shifting consumer preferences — are changing. And banking executives are faced with sorting out if and how to respond with a mobile payment strategy that aligns to their banks […]
The UK’s existing Faster Payments scheme could be consigned to the slow lane as researchers at Royal Bank of Scotland (RBS) claim to have demonstrated blockchain supporting a new banking industry clearing system. In a ten-page technical paper, “Proving Ethereum for the clearing use case”, RBS’s innovation engineering team says it has created a clearing […]
TEB (Türk Ekonomi Bankası) in Turkey has launched a fintech programme and wants the nation’s entrepreneurs and start-ups to get in touch. Why? TEB says: “Because the day will arrive when a technology giant will come from Turkey too.” TEB will provide start-ups with its infrastructure, experience, financial support for their first project, and “even […]
Post-trade firms SIX Securities Services and Clearstream are partnering to potentially provide services to the Swiss and European markets. Both firms recently signed a letter of intent and are now focused on fleshing out the details that will lead to a memorandum of understanding targeted for mid-December. This signing will clear the way for a […]
Nordic payments firm Nets has successfully IPO-ed on Nasdaq Copenhagen Exchange the tune of DKK 30 billion ($4.5 billion).
Overly manicured beard. Check. Clothes that betray blatant narcissism. Check. Holier than thou attitude. Check. Welcome to the world of hipsters as HSBC is looking for office space in trendy tech-focused London neighbourhoods. According to Bloomberg, the bank is seeking to “bolster its fintech capabilities” and has hired real estate broker CBRE Group to find […]
National Australia Bank (NAB) says it has successfully transferred AU$10 ($7.6) – using Ripple’s blockchain tech – from Australia to Canada. It took ten seconds to process.
Allied Irish Banks (AIB) is believed to be in the market for new digital banking software. Banking Technology understands a number of vendors have done their demos for the bank, Infosys with its Finacle digital banking platform among them.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Harrods Bank in search of new core banking system EXCLUSIVE. The FIS Profile project is dead. Long live a new project! Deutsche Bank GTB builds new payments platform EXCLUSIVE. Dovetail to deliver? Misys unveils Platform-as-a-Service strategy Opens up […]
Tokyo Commodity Exchange (Tocom) has gone live on its new trading system – powered by Nasdaq’s Genium INET technology, as well as Nasdaq pre-trade risk and smarts market surveillance solutions.
Ukrainian start-up Attic Lab has revealed its lofty ambitions with the launch of an open source blockchain platform. The banking platform will offer the issuance of e-money and Attic Lab claims it will be a “full-fledged alternative” to systems like Visa and MasterCard. The company was founded in early 2016 with Sergey Vasilchiuk taking the […]
National Australia Bank (NAB) appears to be entering the final stages of its seven-year Oracle-based “NextGen” core banking overhaul. The bank originally planned to build an in-house mortgage origination platform, beginning with its digital banking subsidiary UBank. But that was scrapped – with the loss of AU$106 million ($81 million) – and Oracle FSS was […]
Deutsche Bank says it is building a new “state of the art” payments platform for its global transaction banking (GTB) business. It will be rolled out across the bank’s operations worldwide, supporting trade finance, securities and cash management businesses. The software is supplied by a specialist payments provider – Banking Technology understands this is Dovetail. […]
The FIS Profile core banking project is dead. Long live a new core banking project! UK-based Harrods Bank is back to market to find a new core banking solution, Banking Technology understands. It is understood to be in talks with a broad number of tech suppliers, including Temenos and Misys (the incumbent provider). The bank […]
Canadian start-up Finn.ai (formerly Payso) has teamed with ATB Financial for the “first ever banking chatbot” on Facebook Messenger. In an interview with Betakit, Finn.ai co-founder and COO Natalie Cartwright says it has been in talks with ATB since Q1 2016, and “after initial work had already begun on design and integration, the organisations are […]
We are pleased to unveil our Readers’ Choice Awards shortlist, as voted by our broad international audience of bankers and financial services professionals.
The technology era has come with its new aesthetic, economic models and philosophy about the meaning of value. It is not going away. And the people who thought economics was theirs to define and aesthetic and values were “hobbies” have a lot of catching up to do. That catching up is your hottest technology trend of 2017.
Budapest Bank, a payment cards issuer in the Hungarian market, has selected Italian firm SIA to create and implement a new payment cards management system. The agreement covers the migration of the full debit and credit cards portfolio of Budapest Bank to SIA’s card processing technology platform and the integration of the SIA solution to […]
Too many words can be absurd. A round-up of some key events in fintech funding. UK payments start-up Curve has announced a further tranche of fundraising taking its total investment to $5 million. The firm says this puts it on a “trajectory for a sizeable” Series A round by the end of December ahead of […]
The big four retail and commercial banks in South Africa – Standard Bank, Absa/Barclays Africa, FirstRand and Nedbank – have been upping their games in information technology (IT) expenditure.
JP Morgan Chase and InvestCloud, a California-based fintech firm, are partnering to develop digital capabilities for individual investors at both the JP Morgan and Chase franchises. JP Morgan has also made an equity investment in InvestCloud, but hasn’t revealed the figures. This investment is just one part of JP Morgan’s three-year $300 million digital strategy […]
Hey! You! Get onto my cloud. This was the main message from the Misys Connect Forum in London as the vendor held a one-day conference of panel debates, Q&As, presentations and demos. At yesterday’s (20 September) event – “the largest Misys conference ever” with 600 attendees – at The Mermaid in Blackfriars, the morning began […]
What were the most popular mobile banking apps (on Android) in India in August 2016? We reveal the stats for the top ten apps in India, ranked taking into account two engagement metrics – current installs and active app users.
A new challenger has joined the UK’s banking market, Community Savings Bank Association (CSBA). The association is working with an established bank, Airdrie Savings Bank, to set up a UK-wide network of independent, customer-owned, regional banks. These banks will support local communities and businesses.
34 microfinance entities in Nepal have joined forces to set up a fintech company – Nepal Finsoft – to build and maintain a shared core banking platform.
Following the launch of Misys’ applications in the cloud – FinCloud – earlier this year, the banking software vendor has unveiled its new Platform-as-a-Service (PaaS) strategy, FusionFabric.cloud. It will be commercially available next year.
Financial services IT consultancy Synechron has launched six blockchain applications in the cloud, enabling financial institutions “to be up-and-running on a blockchain network or in a ‘sandbox’ environment within weeks”. Synechron says its offering comes with consulting services on the functional and technical side, training programmes as well as the UX design. The applications use […]
What were the most popular mobile banking apps (on Android) in the US in August 2016? We reveal the stats for the top ten apps in the US, ranked taking into account two engagement metrics – current installs and active app users.
The full authorisation by Financial Conduct Authority (FCA) covers all of AvantCredit’s credit and lending operations and includes permissions for credit broking, debt collection and debt administration.
East West Bancorp is implementing SS&C’s integrated risk and finance solution, Evolv, to manage reserving under current US GAAP and new CECL accounting standards. The solution is delivered in the cloud. The contract was signed with Primatics Financial, a subsidiary of SS&C. “Preparation for CECL is critical for our business,” Sharon Cheung, controller at East […]
Standard Chartered and SuperCharger are inviting applications from start-ups for its SuperCharger Fintech Accelerator 2.0. For the second year running, SuperCharger says it offers access to market entry resources, mentors, technology advice from industry experts and joint venture opportunities. The selection panel is looking for start-ups for supply chain and trade finance, wealth management, distributed […]
Commerzbank has processed its first transaction settled by a bank payment obligation (BPO) between Germany and China. The BPO covers the export of chemicals between Commerzbank’s customer (the buyer), Trigon Chemie in Germany. The seller is an unnamed customer of Industrial and Commercial Bank of China in Beijing. Trade business between the two was previously […]
Deutsche Bank is partnering with start-up accelerator Axel Springer Plug and Play to select, develop and finance up-and-coming firms from sectors such as banking and insurance. Deutsche Bank will be an exclusive Axel Springer Plug and Play partner – the latter a joint venture between the media company Axel Springer and California-based Plug and Play […]
Standard Chartered, National Australia Bank, Mizuho Financial Group, BMO Financial Group, Siam Commercial Bank and Shanghai Huarui Bank are the latest banks to join Ripple’s blockchain-powered network for cross-border payments. “2016 has proven to be the year where the most forward-thinking financial institutions are actually using blockchain technologies for payments and settlement rather than as […]
UniCredit will launch “Buddybank”, a bank project exclusively designed for smartphones, in early 2017 in Italy. Buddybank will offer current accounts, credit/debit cards and “contextual” and instant personal loans, as well as a 24/7 concierge service, accessible via chat and phone, that “can help with everyday tasks such as restaurant reservations, taxi booking and travel […]
Six start-ups have signed contracts with Barclays after using its New York accelerator programme to showcase their innovations. After thirteen weeks of product development, mentoring and networking, the demo day in New York marked the culmination of the second class of the Barclays Accelerator. In total. ten teams were selected from a pool of nearly […]
What were the most popular mobile banking apps (on Android) in the UK in August 2016? We reveal the stats for the top ten apps in the UK, ranked taking into account two engagement metrics – current installs and active app users.
The Bank of England (BoE) has published a consultation paper on the next generation real-time gross settlement (RTGS) service. On the way out is the bank’s legacy 20-year old platform. The BoE is calling on the payments industry specialists to get in touch.
Having gone through an unprecedented number of high-quality entries for our Tech Leadership and IT Team of the Year Awards, and for our newly-launched Woman In Technology (W.I.T.) Award, we are pleased to unveil the shortlists.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
