EBL launches Bangladesh’s first AI-based banking chatbot
EBL Digital Interactive Agent will communicate with customers via Facebook Messenger.
Asia
TransferTo adds digital wallet to payments network via Cellum partnership
Cellum will offer money transfers via TransferTo’s cross-border mobile payments network.
Standard Chartered and Ant Financial buckle up for Belt and Road drive
They target expanding their fintech clout along the “Belt and Road Initiative” route.
NICE teams with Brightstar India
To support the launch of NICE Uptivity, a workforce optimisation solution for SMBs.
LienVietPostBank goes live on SmartVista paytech platform
Replacing its legacy Electra System with BPC Banking Technologies’ SmartVista platform.
Path Solutions beats ICS Financial Systems to core banking system deal in Iraq
Al-Rajih Islamic Bank, a greenfield bank in Iraq, has signed for the iMAL core banking system from Path Solutions.
Cisco buys cloud optimisation firm Cmpute.io
Looking to take some of the pain out of managing multicloud environments.
Standard Chartered and Axis Bank launch cross-border payments via Ripple
Standard Chartered and Axis Bank have unveiled a real-time cross-border payment service for corporates using Ripple’s distributed ledger technology (DLT) solution. This offering is now commercially available between Standard Chartered (Singapore) and Axis Bank India, and, accessible through Standard Chartered’s corporate digital banking platform, Straight2Bank. Himadri Chatterjee, president, transaction banking, Axis Bank, says by using […]
Commercial Bank of Ceylon in digital banking tech revamp with Fiserv
Commercial Bank of Ceylon (Combank), a long-standing user of Fiserv’s Signature core banking system, is now extending the vendor’s tech to the front office.
Three crucial questions for insurance’s digital future
Insurance is an industry at a turning point. Few could have predicted that “innovation” would become one of its watchwords, but as the digital revolution spurred on by insurtech gathers pace fundamental changes are beginning to take hold.
Nations Trust Bank launches lifestyle app FriMi with Daon’s biometrics tech
Sri Lanka-based Nations Trust Bank has launched a new mobile payments and lifestyle app, FriMi, using Daon’s biometric authentication platform, IdentityX.
Airtel Payments Bank live with new core banking system
Airtel Payments Bank, a start-up subsidiary of Indian telco Airtel, has gone live with its core banking system. This is understood to be Oracle FSS’s Flexcube.
Federal Bank opts for Intellect’s digital transaction banking platform
Federal Bank in India has selected Intellect Design Arena’s digital transaction banking (DTB) platform as part of its revamp. The system is powered by an omnichannel corporate banking exchange (CBX) portal with backend processors for collections and receivables, payables, account services and supply chain finance. Intellect says DTB will also augment the front end of […]
Top fintech stories this week – 10 November 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
ICICI Bank sets the tone for voice-based payments in India
ICICI Bank has unveiled India’s first voice-based international remittance service to enable non-resident Indians (NRIs) to send money to any bank in the country. With the new feature in its Money2India (M2I) app, an NRI customer can make a remittance to existing payees in India with a voice command to Apple’s virtual voice assistant, Siri. […]
Major Indian bank looks for fintech acquihire
A major financial institution in India is looking to make a fintech “acquihire” (an acquisition of a company primarily for the skills and expertise of its staff, rather than for the products or services it supplies).
Indian Overseas Bank signs for Nelito’s data archival and retrieval tech
Mumbai-based Nelito Systems has bagged a multi-country deal with Indian Overseas Bank (IOB) for its Findart data archival and retrieval solution.
Krungsri and IBM apply blockchain to related party transactions
Thailand-based Krungsri (Bank of Ayudhya) and IBM have completed a blockchain pilot project to streamline the bank’s contract management process across its offerings.
Mastercard, Bank Asia and a2i team for financial inclusion in Bangladesh
Access to Information (a2i, an innovation lab supported by the Bangladeshi government), Bank Asia and Mastercard have signed a tripartite memorandum of understanding (MoU) to facilitate financial inclusion in Bangladesh by making digital payment services accessible countrywide through the Union Digital Centres (UDCs).
Bank of Thailand selects SimCorp Dimension for investment management
Thailand’s central bank, Bank of Thailand, has selected SimCorp Dimension as its new investment management platform to support reserve management and monetary policy operations of its $226 billion reserves.
Panin Dubai Syariah selects ICS Banks core banking platform
Panin Dubai Syariah, an Islamic bank in Indonesia, has selected ICS Banks core banking platform from ICS Financial Systems (ICSFS) to replace its legacy tech.
Three reasons Asia is the perfect incubator for fintech innovation
A report released last year by EY and major Singaporean bank DBS declared China the “undoubted centre of global fintech innovation and adoption”. And China isn’t the only Asian country making waves in the fintech sphere. Overall fintech investments in the Asia-Pacific region reached $10.5 billion in 2016 – the highest amount witnessed to date since 2010, according to CB Insights data.
South Korean banks sue US electronics retailer Newegg
Four South Korean banks, including Bank of Korea, Keb Hana Bank, Nonghyup Bank and Kookmin Bank, have filed a lawsuit against online US consumer electronics retailer, Newegg.
Avaloq signs core banking tech deal with Bank of Asia
Bank of Asia, a start-up digital bank in the British Virgin Islands focused on companies that have ties to Asia, has signed for the Avaloq Banking Suite core platform.
International Islamic Bank live with new core banking system
International Islamic Bank (IIB), a greenfield bank in Iraq, has gone live with the ICS Banks core banking system from regional developer ICS Financial Systems (ICSFS).
Meezan Bank in core banking system upgrade with NDC and Temenos
Meezan Bank, the largest Islamic Bank in Pakistan, has upgraded its core banking system, Temenos’ T24, to release 16.
Old world aces new world
With sizeable market shares, China’s mobile payments giants Alipay and WeChat Pay are seeking international expansion. What’s next for the tech giants?
Deutsche Bank unveils first paperless import payment solution in India
Deutsche Bank has launched the “first” paperless import payment solution in India with its TradePay system. TradePay uses the Reserve Bank of India’s (RBI) Import Data Processing and Monitoring System (IDPMS) to verify import payments by checking them against details made available by the client on the system, “eliminating the need for clients to share […]
Standard Chartered gets personalised for investment ideas in Asia
This time it’s personal. Standard Chartered has launched a digital wealth management tool that can customise investment ideas in a lively and rapid manner. Called Personalised Investment Ideas (PII), the idea is to help “priority banking” clients respond faster to market opportunities with automated investment ideas based on considerations such as their risk profile and […]
Fintech funding round-up: 13 October 2017
Mongolia gets a mention in this concise fintech funding round-up. Features OakNorth Bank, AND Global and TransFICC. UK challenger OakNorth Bank has secured £154 million investment as it looks to lend a further £1.5 billion to businesses in the country in 2018, and then attempt to move on globally. The funding came from the Clermont […]
India’s fintech valley gets pally with Mastercard for smart city plan
Mastercard has partnered with the Andhra Pradesh government in India to bring its digital payments into the Fintech Valley Vizag’s smart city plan. Under the agreement, Mastercard will help Andhra Pradesh in its ambitions to be a cashless society and develop the city concept. Mastercard president and CEO Ajay Banga says it can do this […]
Utkarsh Small Finance Bank goes live with Intellect’s core banking system
Utkarsh Small Finance Bank, a microfinance institution in India, has rolled out Intellect Design Arena’s core banking system. The bank received its licence last year, and according to Intellect, one of the key requirements for Utkarsh was to have a joint liability group solution that would enable it to provide group loans to the microfinance […]
AU Small Finance Bank in GST tech project with SunTec
A new bank in India, AU Small Finance Bank, is working with SunTec to automate the goods and services tax (GST) functionality with the vendor’s Xelerate revenue management system.
Zarai Taraqiati Bank in new core banking system search
Zarai Taraqiati Bank Limited (ZTBL), a development bank in Pakistan, is looking for a new core banking solution for its conventional and Islamic banking operations.
Fintechs – friends or foes?
Visa employees have a saying that “cash is our biggest competitor.” Mightier threats, however, are looming.
CFTE Supercharger-s fintech learning in Asia
The Centre for Finance, Technology and Entrepreneurship (CFTE) has teamed up with SuperCharger, a fintech accelerator in Asia with offices in Hong Kong and Malaysia, to help its students learning with CFTE. UK-based CFTE cites SuperCharger’s accelerator programmes – which offer a B2B sales focus, closing 14 commercial proofs of concept (PoCs) in 12 weeks […]
Seylan Bank to swap legacy trade finance tech for Finastra’s Fusionbanking Trade Innovation
Sri Lanka’s Seylan Bank is modernising its trade finance technology with Finastra’s Fusionbanking Trade Innovation system. On the way out is the legacy China Systems’ Eximbills system, Banking Technology understands.
TerraPay Partners with Bux for Mobile Money Transfers to India
TerraPay, a mobile payments switch, has partnered with bux, a mobile app money transfer service, to enable instant cross-border money transfers from Australia, Hong Kong, the U.K. and Europe to India.
Bank of Baroda teams with Amazon for SME lending
India’s second largest bank, Bank of Baroda, has got itself an “exclusive” micro lending partnership with Amazon. The bank says through this partnership it is running a process for underwriting Amazon sellers “who would traditionally not be able to procure a line at formal financial institutions”. The deal is part of the bank’s ambitions to […]
Nainital Bank to launch new digital venture, searches for consulting and tech partner
India-based Nainital Bank is gearing up to launch a new digital venture. It has recently gone to market to find a consulting and implementation partner to help it design, build and launch this venture as well as service it post-launch.
