Lending tech provider Nostrum acquired by Equiniti
Just a few days after Vantiv and Worldpay made merger and acquisitions headlines in the payments world, here come Equiniti and Nostrum with some M&A news of their own in the lending space.
LendTech
Puzzle no more with BNI Europa’s prompt consumer credit platform
Challenger Banco BNI Europa (BNI) has unveiled “Puzzle”, a digital and real-time credit approval process for the Portuguese market. Don’t be confused by the name, the bank says Puzzle is “simple, and non-bureaucratic”; and it even cites the Lending Club in the US, or Zopa in the UK by way of comparison. Puzzle offers credit […]
Just in case you need a reason: why participate in Banking Technology Awards?
This year’s Banking Technology Awards are taking place on 13 December in London and there are plenty of reasons why you and your team should be a part of this prestigious event. Besides having a good chance at winning, entering the Awards also allows you to: Make global headlines in the industry if your entry […]
Fintech funding round-up: 5 July 2017
Aw shucks, even more firms are getting big bucks. Following on from yesterday (4 July), here is another fintech funding round-up. Features Ohpen, MarketInvoice and Huddle Capital. Cloud-based core banking provider Ohpen has secured a €15 million Series B investment round led by private equity firm Amerborgh. The current investment round values Ohpen at €100 […]
PayPal makes strategic investment in online lender LendUp
Is PayPal’s investment in online lender LendUp a hint that the underbanked may not remain the underserved for long?
nCino wins first client outside US, OakNorth
UK challenger OakNorth Bank has deployed nCino’s Bank Operating System – the first financial institution outside of the US to use the platform. According to the pair, the bank “liked that” nCino was built on Salesforce.com, allowing it to extend its use of this customer relationship management (CRM) platform. Bank Operating System combines CRM, loan […]
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.
FinTech Australia releases fintech ecosystem map
Industry body FinTech Australia has released its first member ecosystem map, to show the nation’s “strengths and diversity”, particularly in wealth generation and lending. The map (see image below) lists 119 members of FinTech Australia, along with the nation’s key financial services regulators. Danielle Szetho, FinTech Australia CEO, says: “The broad range, depth and quality […]
Fintech funding round-up: 21 June 2017
Some people have got deep pockets, because the funding fun never ends. Our latest round-up features Soldo, Atom Bank, British Business Bank, BlackRock and Scalable Capital. Multi-user spending account, Soldo, has reported a Series A funding round of $11 million, led by Accel and includes participation from Connect Ventures, InReach Ventures, U-Start and R204 Partners. […]
Investors to the rescue for UK’s Co-op Bank?
The UK’s Co-operative Bank’s life may not be over just yet as it reveals it is in advanced discussions with existing investors over a rescue package. As reported in February, the bank was put up for sale – with the minority investor Co-op Group saying it is “supportive of the plan to find the bank […]
HSBC unveils £10bn fund for UK SMEs
HSBC has launched a £10 billion lending fund for SMEs in the UK as it looks to tap into this lively market. The bank says it continues to be open to lending, having approved 91% of small business lending applications in the last year. Ian Stuart, UK CEO, HSBC, says: “We want to put SMEs […]
Dutch regulator fines International Card Services €2.4m
The Netherlands Authority for the Financial Markets (AFM) is fining International Card Services (ICS), a wholly-owned subsidiary of ABN Amro, for excessive credit limits. In March 2017, ICS says it took the initiative itself and prepared a compensation plan for the clients concerned. ICS will pay the €2.4 million fine imposed by the AFM. Which […]
Fintech funding round-up: 2 June 2017
The money’s rolling in for fintech – as this round-up follows hot on the heels from 30 May. This latest report features Zopa, RateSetter and Niyogin Fintech. The plans of peer-to-peer (P2P) lender Zopa to launch a new digital-only bank in the UK are going well as it has completed a £32 million funding round […]
Fintech funding round-up: 30 May 2017
It’s all go for money flow. Our latest fintech funding round-up, featuring NetGuardians, Banco BNI Europa, Raize and Wave. Swiss fraud prevention vendor NetGuardians has reported a Series C investment of CHF 8.5 million ($8.7 million). The investors in this round are Swisscom Ventures and Freemont Management. The financing will be used to fund NetGuardians’ […]
Blockchain and Bitcoin round-up: 24 May 2017
Cut to the chase with this brief blockchain and Bitcoin round-up. Features Waves Platform, Everex and Bitcoin’s price surge. Moscow-based Waves has launched its Euro gateway, which will allow users of the platform to deposit and withdraw Euros directly from within the lite client, holding and trading them directly from their Waves accounts as WEUR […]
Israel Discount Bank implements Linedata Capitalstream platform
Israel Discount Bank of New York (IDBNY) has chosen Linedata’s lending and leasing solution Capitalstream. IDBNY will use Linedata Capitalstream to manage its entire commercial lending origination process and ongoing account monitoring, implemented alongside Linedata Hosting to enable the rapid roll-out of the solution. Louis Turano, SVP of IT, IDBNY, says by implementing both solutions, […]
Great Southern Bank takes commercial lending to nCino cloud
Missouri-based Great Southern Bank has selected nCino’s Bank Operating System for a revamp of its commercial loan process. The bank has more than 100 offices in nine states, and has grown as a result of acquisitions and organic expansions over the past eight years. According to nCino, this growth prompted the bank to look for […]
Nucleus Software lends cloud solution to Essel Home Loans
India-based Essel Home Loans, a new housing finance subsidiary of Essel Finance, has opted for Nucleus Software’s FinnOne Neo Cloud for digitisation of its loan lifecycle. According to Nucleus, Essel Home Loans is keen to capitalise on the Government of India initiatives such as Pradhan Mantri Awas Yojana (PMAY) – which is designed to build […]
The View from Finovate
Payments compete for attention with “RegTech” while an overall lull in disruption suggests that fintech could be in the eye of a storm.
IBM heats up Chile’s financial sector with blockchain
IBM and Chile’s Santiago Exchange, the largest in the country, have teamed up to introduce blockchain across the country’s financial sector. The agreement makes the Santiago Exchange the “first stock market in Latin America” to apply IBM blockchain within its short selling system for securities lending. Built by IBM and Santiago Exchange, the solution is […]
Equifax forms new alliance to develop open banking products
Equifax, credit information provider Castlight and Oakbrook Finance, the owners of consumer loan brand Likely Loans, have teamed up to develop new products for the 2018 open banking initiative. Under open banking, Equifax says bank transaction data will play a crucial role in lending decisions. Lenders will have access to real-time and historic account and […]
Virgin Money walks away from Co-op Bank takeover talks
Virgin Money has withdrawn from a potential takeover of the UK’s Co-op Bank as the struggling lender prioritises talks with a group of hedge funds about a financial restructuring, according to Sky News. As Banking Technology reported in February, the Co-op Bank was put up for sale – with the minority investor Co-op Group saying […]
Fintech funding round-up: 15 May 2017
Brevity and celerity. It’s our latest fintech funding round-up for a quick fix – featuring Axoni, Citi, MarketInvoice, Banco BNI Europa, Alibaba and Qupital. Distributed ledger technology (DLT) provider Axoni has revealed that Citi has joined its Series A funding round, bringing the total amount raised to over $20 million. Citi joins a group of […]
Australia’s UBank unveils virtual assistant for home loans
UBank, a subsidiary of National Australia Bank (NAB), has launched RoboChat, Australia’s “first virtual assistant” for online home loan applications. RoboChat will guide customers through the online mortgage form by providing real-time input on questions like “what term do you offer on home loans?” and “do you offer redraws and how do they work?”. Lee […]
HSBC’s virtual platform for business borrowers goes global
HSBC is rolling out its virtual platform for business customers, LinkScreen, across its operations worldwide. The platform is already available in the UK, US and Mexico, with Canada, France and Hong Kong to follow in the coming months.
CrossFirst Bank goes live on nCino Bank Operating System
Kansas-based CrossFirst Bank has implemented nCino’s Bank Operating System for its commercial loan process. nCino’s cloud-based solution is built on Salesforce.com. The vendor says it combines customer relationship management, loan origination, workflow, enterprise content management, business process management and instant reporting on a single platform. Amy Fauss, chief operating officer at CrossFirst Bank, says nCino’s […]
Flender the lender seeks splendour with UK launch
Peer-to-peer lending start-up Flender is seeking to get €1 million in funding and is targeting a UK launch after getting full authorisation from the Financial Conduct Authority. As Banking Technology reported last year, Flender launched its crowdfunding campaign on 21 November 2016, to raise £500,000 in exchange for 10% equity in the firm. The firm […]
HF Group live with new core banking system, Intrasoft’s Profits
Kenya-based mortgage lender Housing Finance (HF Group) has gone live with a new core banking system, Profits, supplied by Intrasoft International.
Game’s on for Sovcombank credit scoring
Russia-based Sovcombank hopes to attract more young people looking to get their first credit card by “gamifying” the credit application process. The project has been carried out with Entrepreneurial Finance Lab (EFL), which developed a new survey-based credit scoring model, and FICO, which handles marketing.
Innovation spotlight: North American FIs going social
As banking continues to go digital, online innovators and niche players in North America are getting personal by adding social activities to their customer services.
Unauthorised transactions vex US prepaid consumers – CFPB’s latest report
Prepaid complaints to the Consumer Financial Protection Bureau (CFPB) in the US hit 2,500 in 2016, accounting for about 0.9% of the 291,400 complaints in agency’s latest Consumer Response Annual Report.
North State Bank goes live on nCino Bank Operating System
North Carolina-based North State Bank has gone live with nCino’s Bank Operating System to centralise and automate its commercial loan process. nCino’s cloud-based solution is built on Salesforce.com. The vendor says it combines customer relationship management, loan origination, workflow, enterprise content management, business process management and instant reporting on a single platform. Last month, Valley […]
UK challenger Redwood gets banking licence
Redwood Bank, a new UK-based SME challenger, has secured a banking licence following approval from the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA). As Banking Technology reported in October last year, Acorn Financial Partners (AFP) submitted a banking licence application. Now that it has authorisation, AFP is called Redwood Bank. Redwood says it […]
Woes for Wonga with data breach
UK-based payday loan company Wonga says there may have been illegal and unauthorised access to the personal data of some of its 270,000 customers. In a statement, the firm says information stolen may have included one or more of the following: name, e-mail address, home address, phone number, the last four digits of a card […]
O-Bank goes digital in preparation for IPO
O-Bank (formerly Industrial Bank of Taiwan), is keen to transform itself into “a nimble and digitally-focused boutique lender” as it gears on for an IPO.
R3, HQLAX and five banks build collateral lending solution on blockchain
Distributed ledger technology (DLT) consortium R3, together with five of its members and financial resource management specialist HQLAX have built a collateral lending solution for liquidity transfers. The solution is based on R3’s flagship platform, Corda, and is “an operating model for a digital collateral receipt (DCR) lending marketplace”.
Fintech funding round-up: 4 April 2017
The world is not short of money… for some. Our latest fintech funding round-up features Aeries Financial Technologies, CASHe, Perfios and Ayopop. There’s never a shortage of fintech news in India. Aeries Financial Technologies, which owns the app-only lending platform CASHe, has raised $3.8 million in Series A funding from an investor group led by […]
Blockchain and Bitcoin round-up: 31 March 2017
Boiled down and brief. The best bits of blockchain and Bitcoin in one round-up. Features Waves Platform, Ripple and Synaps Loans. Fresh from its ZrCoin commodities deal success, the blockchain Waves Platform is launching its decentralised exchange (DEX) and leased proof-of-stake on the Bitcoin network mainnet. DEX can be accessed via a full node or […]
Fiserv makes some noise in Illinois with core banking tech revamp
Iroquois Federal Savings & Loan Association, a $580 million entity in the US state of Illinois, is modernising its front-to-back office technology with Fiserv.
Valley National Bank takes commercial lending to the cloud
Valley National Bank, a $23 billion financial institution in New Jersey, is implementing nCino’s Bank Operating System for commercial lending.
