Banking


Understanding the role of virtual card provider

Your organisation’s satisfaction with its virtual card provider is the single most important factor determining the return you will receive on your investment. So when you choose a supplier, set your expectations high.

Ant Financial buys MoneyGram for $880 million

Alibaba’s affiliate Ant Financial is splashing out $880 million for money transfer operator MoneyGram International. This is Ant Financial’s first acquisition of a US-listed company.

IBM: AI needs more than just technology

Artificial intelligence (AI) on its own isn’t enough to compete – companies need industry-specific solutions to business problems. So said Martin Schroeter, IBM’s senior vice-president and chief financial officer, on the company’s quarterly earnings call.

Starling Bank First Digital Challenger to Join Faster Payments

U.K.-based Starling Bank has become the “first of the digital-only challengers” to join Faster Payments this week. The 13th direct participant of the Faster Payments Scheme, Starling says its customers will be able to see where their money is flowing and when in real-time, 24/7.

DeVere Group launches private bank

Financial adviser firm DeVere Group has unveiled its own private bank, DeVere Group Bank St Lucia. The company says the launch “has been facilitated” by the acquisition of St Lucia-based Arton Bank for an undisclosed sum. Arton Bank was set up and licensed in 2014 under the Offshore Banking Act 1996. Founder and CEO of […]

Daimler Financial Services buys PayCash Europe

Daimler Financial Services is acquiring e-payments services provider PayCash Europe, based in Luxembourg. This will enable Daimler to launch its own e-payments service under the Mercedes Pay brand.

UBS extends agreement with EPAM Systems worth $300m

The world’s largest wealth manager UBS has extended its long-standing agreement with EPAM Systems, a provider of product development and software engineering solutions. The agreement – worth over $300 million – “supports the bank’s strategic cost reduction programme”, according to EPAM.

Schroders in digital drive with Capriza

Global asset manager Schroders has selected Capriza’s enterprise mobility platform “to power its drive to digitisation”, according to the vendor.

HSBC to capitalise on tech innovation with technology advisory board

HSBC has appointed a technology advisory board of top-level specialists from around the globe as the banking giant is keen to capitalise on opportunities in artificial intelligence (AI), biometrics, blockchain and data science, combat cybercrime and leverage its global infrastructure.

Money rolls

Our new series of thrillers – produced and directed by CustomerXPs and Banking Technology – narrate the tales of the fight between the forces of good (the Clari5 analytics and anti-fraud software) and the forces of evil. Based on real events and guaranteed to keep you on the edge of your seat!

Automic Software now on Temenos Marketplace

Business automation software vendor Automic Software has inked a deal with Temenos to make its Automic Workload Automation available on the Temenos MarketPlace store.

Fintech funding round-up: 17 January 2017

They said it. We read it. We edited. A round-up of the latest funding efforts in the fintech and payments space. Featuring Kasisto, BillGO, Gumption Labs and Fraugster.

Video: Banking Technology Awards 2016

Our dazzling event gathered together over 260 banking and financial technology specialists from all over the world – recognising the excellence and innovation in the use of IT in financial services, and of course the people that make it happen! Join us at the 2017 awards, which will be held at a 5-star venue in London in Q4 this year.

Deutsche Bank bans texting and messaging apps on work phones

No more texting or using messaging apps such as WhatsApp on company issued phones, Deutsche Bank tells its employees. According to a memo issued by COO Kim Hammonds and chief regulatory officer Sylvie Matherat, the functionality will be switched off this quarter.

Putting trust in chatbots

Artificial intelligence (AI) interfaces and chatbots could be revolutionary for financial institutions – but only if they strike the right balance between human and machine interaction.

Top fintech stories this week – 6 January 2017

Catch up on Banking Technology’s top five fintech stories of the week – all in one place! The first weekly news round-up of 2017. Happy 2017! Let it be a year of discovery and success.

S&P sells QuantHouse to original founder

S&P Global is selling trading solutions provider QuantHouse to one of its original founders, Pierre Feligioni. “The time is right for QuantHouse to regain focus and flexibility to exploit growing market opportunities in North America, Europe and Asia,” Feligioni states.

MAIB in major core banking system upgrade

Moldova Agroindbank (MAIB), a universal bank in Moldova, has completed a major upgrade of its core software. The bank, a long-standing customer of Temenos, has moved from T24 R08 to R15.

Top five jargon winners in 2016

For some people in the world of fintech, they find comfort in the language of jargon. Pity these poor souls! Lost, confused and unable to communicate clearly and normally. Here are our top five jargon winners of 2016. You can avoid being on this list next year – just use English!  CIBC ends phase one […]