Banking tech vendor Ohpen acquires FYNN Advice for implementation capabilities boost
Core banking tech vendor Ohpen has acquired a fellow Dutch fintech firm, FYNN Advice, which specialises in core banking software implementations.
BPO
Webhelp acquires regtech firm GreenPoint
Webhelp, a Paris-based customer experience and business process outsourcing (BPO) firm, has acquired fellow French tech company GreenPoint.
ERI and Swisscom team for hosted core banking tech and ops
Switzerland-based core banking software provider ERI has joined forces with another domestic IT firm Swisscom to offer private-banking and wealth management outsourcing services to banks and financial institutions operating in the Swiss financial centres.
Commerzbank processes first BPO live transactions in Austria
Commerzbank has processed the first bank payment obligation (BPO) transactions in Austria, covering the import of bus components from Germany and Italy. The buyer, a customer of Commerzbank Austria, is TAM-Europe, located in Slovenia. The suppliers are MAN Truck & Bus, headquartered in Munich, and ISAF Bus Components, an Italy-based supplier and customer of UniCredit. […]
Axion Swiss Bank live with Avaloq Banking Suite
Axion Swiss Bank has fully replaced its legacy tech – ERI’s Olympic core banking system – with Avaloq Banking Suite.
Arab Bank Switzerland ditches FIS/Sungard core system for Avaloq BPO
Arab Bank (Switzerland), a private bank in Geneva, has signed a long-term deal with Avaloq for the vendor’s complete business process outsourcing (BPO) services.
SNS Bank selects Ohpen for BPO core processing services
Amsterdam-based banking software vendor Ohpen has signed a long-term outsourcing agreement with Dutch state-owned bank SNS to deliver its business process outsourcing (BPO) solutions to support the investment propositions of ASN Bank, BLG Wonen, RegioBank and SNS. The services, underpinned by Ohpen’s Microsoft.Net-based core banking platform, will start by the end of 2017. Ohpen CCO […]
FNZ to build new BPO centre for Kleinwort Benson, SG Hambros and Société Générale’s private banking business
FNZ, an investment management software specialist, is working on a major technology revamp at the UK-based private bank and wealth manager Kleinwort Benson, Banking Technology understands.
Commerzbank and UniCredit complete first BPO live transaction in UK
Commerzbank London and UniCredit have “successfully” processed the first UK Bank Payment Obligation (BPO) live transaction. The banks say with the backing of the ICC Banking Commission and Swift, there has been a “growing demand for, and an increasing number of”, BPO transactions, as a “proven” digital settlement tool. Raphael Barisaac, global head of trade […]
UK BPO and fintech provider Target Group acquired by Tech Mahindra
India-based IT heavyweight Tech Mahindra is spending £112 million on Target Group, a UK-based business process outsourcing (BPO) and software vendor. Target focuses on the lending, investment and insurance sectors, claiming around 50 financial institutions in the UK as customers. Among them are Yorkshire Building Society, Shawbrook Bank, Central Trust and Masthaven. It also works […]
Clearing the path to BPO adoption for international trade finance banks
The release in 2013 of Universal Rules for Bank Payment Obligation by the International Chamber of Commerce effectively endorsed and formalised the structure for international trade finance processes. Despite this, the volume of completed BPO transactions remains low
New Bank Payment Obligation standards launched by Swift
Swift and the Banking Commission of the International Chamber of Commerce have introduced new legal and technology standards for the new Bank Payment Obligation payment instrument. The BPO allows buyers and suppliers to secure and finance international trade transactions. It provides the benefits of a letter of credit in an automated and secured environment, and […]
