FinTech


Riding the payments roller-coaster

UK banks are still in “a difficult place” as they face economic uncertainty, increased cost and competitive pressures, complex regulations and rapid technological changes – but the changes that are happening in the payments industry offer scope for them to reclaim the initiative and deploy innovative solutions.

Netherlands’ Rabobank draws on outsourced IT “knowledge”

Dutch cooperative Rabobank has increased its outsourcing of banking software development and testing, via a five-year deal with technology specialist Cognizant that the cooperative hopes will provide it with the benefits of stronger technology.

Regional differences colour IT spending priorities

Total bank IT spending across North America, Europe, and Asia-Pacific will grow to $179.2 billion in 2013, an increase of 3.4% over last year according to research and consulting firm Celent.

Unlocking the potential of Big Data

At the centre of the national crisis sits a banking industry tarnished in the public’s eyes by poor performance, excessive pay and the ongoing need for state support. Just where does the industry go from here and how does it start to rebuild trust?

Lloyds slashes another 940 jobs as cuts deepen

Lloyds Banking Group is to cut 940 more jobs, the latest in a series of savage headcount culls at major financial institutions. Separate announcements earlier this week confirmed 200 human resources jobs would be axed, and a further 175 cuts made in the Halifax branch network.

CGI in mobile alliance with Monitise

CGI, which recently acquired UK software house Logica, has formed a partnership with mobile banking and payment specialist Monetise to offer joint services for banking and payments companies using the Monitise platform.

Broker back-ends still outpaced by trading technology

Too many brokers are still using outdated methods such as email and telephone to confirm trade matches, undermining the advantages gleaned from high-performance trading technology, according to a new study by financial research firm Aite Group.

Nasdaq OMX expands and regroups technology business

Nasdaq OMX is to combine its market technology and corporate solutions businesses, in a move that it says will help the firm provide more transparency to customers and a stronger business proposition.

Trendy techs top CIO priority lists for 2013 says Gartner study

Faced with flatlining IT budgets, global CIOs must better exploit the business potential of technology to achieve results – currently they realise only 43% of that potential says Gartner. Top of the priority list is what the research firm calls ‘digital technologies’. In this it includes mobile, analytics, Big Data, social media networking and cloud, […]

The African banking evolution: High-Street banking on your doorstep

Mobile phones may have revolutionised the way of life of the African population, but when it comes to mobile banking there are a variety of technologies circulating which each provide precise services and levels of connectivity and functionality, writes Simon Pont, chief executive of ECR Retail Systems.

Payments Council pushes mobile payments back another year

The UK Payments Council has announced that the introduction of its planned Mobile Payments Service has been pushed back until “spring 2014” – a year after its previously expected introduction, and two years after Barclays broke from the rest of the UK banks and launched its Pingit service. The delay comes despite commitments from financial […]

The irresistible rise of digital banking

The banking industry, integral to our commercial and personal lives, has always evolved with the times to embrace new challenges and consumer attitudes. Technology plays an obvious and increasingly important role in this evolution.

Social media trading goes live on DCM

Online trading service DCM Capital has released a trading platform with a social media sentiment feed, allowing traders to incorporate information from channels such as twitter and Facebook into their trading decisions.

Moscow draws closer as TMX Atrium opens new trading link

Investors looking to trade in Russia can now take advantage of a new high-speed route from Frankfurt to Moscow, built by technology and connectivity provider TMX Atrium. The idea behind the new link is to provide access for clients that need low-latency access to the Russian market, which currently represents the world’s sixth largest economy, […]

Wall Street Systems acquires IT2 Treasury Solutions

IT2 Treasury Solutions, a UK company that provides treasury management software and services for large corporations and small and mid-sized financial institutions, has been sold to Wall Street Systems, a subsidiary of trading technology provider ION Trading.

Bank AlJazira upgrades Saudi data centres with Siemon

Bank AlJazira has commissioned infrastructure specialist Siemon to supply the IT infrastructure for new data centres across Saudi Arabia as part of its strategy for growth and to secure technical advantage. Siemon was selected as the supplier of choice in a competitive tender with two other industry-leading manufacturers. According to Ahmed Al Hassan, head of […]

Mobile banking to hit 1 billion users by 2017

As uptake of mobile banking services is predicted to reach 1 billion by 2017, banks are starting to view the mobile channel as an indispensable revenue stream, according to Nitin Bhas, senior analyst at telecoms research firm Juniper Research.

IT pros willing to back the bankers

The finance sector has been plagued with bad press over the past five years, with little respite for those in the industry, but despite the issues faced by the sector, 59% of IT jobseekers would still consider entering the industry, writes Richard Nott, website director at CWJobs.co.uk.

ConvergEx targets “dark” Asia Pacific capital markets

Western investment firms looking to trade in Asia Pacific should not rely on algorithms that have been ported from the US or Europe, according to William Capuzzi, president of trading technology company ConvergEx’s global execution business – instead, they should adopt dedicated tools built from the ground up.