Turn gaming into investing with Invstr’s newest app
Invstr, the social and investment game app, has launched a new product which will give UK members the ability to trade fractional shares.
Europe
Credit Kudos receives FCA authorisation to shake up credit bureau market
Credit Kudos, a challenger credit bureau, has received the green light from the UK’s regulator, Financial Conduct Authority (FCA), to operate as a credit reference agency.
Falcon plans to feather more nests with new digital platform
Zurich-based Falcon Private Bank has unveiled a new digital platform, Falcon Pulse, as it looks to boost its ambitions in wealth management. Main features will include an algo trader that daily rebalances a portfolio’s asset allocation to “optimise” performance as well as an idea generating tool that will screen market information to offer the “best […]
Crowdfunding platform OurCrowd moves into Spain
Israeli equity crowdfunding platform OurCrowd has furthered its global expansion by opening an office in Spain, reports Julie Muhn at Finovate (Banking Technology’s sister company). The company’s founder and CEO Jon Medved has identified Spain and the Iberian region as one of OurCrowd’s “priority markets” since Madrid is in the heart of Europe and a gateway […]
Cloudy with a chance of Microsoft for TSB’s digital banking
TSB has selected Microsoft 365 Enterprise and Dynamics 365 cloud solution as part of its digital banking revamp for its eight corporate centres and 550 branches. Microsoft 365 integrates Office 365, Windows 10, and Enterprise Mobility + Security into a solution to help the bank’s 8,500 employees. Dynamics 365 delivers a cloud-based suite of applications […]
Nordea and DNB unite in the Baltics as Luminor Bank
Luminor Bank is the new name and brand for the unified operations of Nordea and DNB in the Baltics region.
Evry in five-year, $18.7m card deal with Aktia Bank
Norway-based banking tech vendor Evry will provide Finland’s Aktia Bank with the “entire value chain for card payments”, including virtual debit and credit cards for the bank’s digital proposition, Aktia Wallet.
Telegram becomes the BotFather of Sberbank’s payments
News comes from Russia with love as Sberbank, the country’s largest bank, and Telegram, a messenger API, have partnered up to develop a payment solution for firms using Telegram bots.
Banco Santander makes Mioti move for IoT education
Banco Santander, through Santander Universities and Fundación Universia, will work with internet of things (IoT) institute Mioti to provide training grants and courses in the growing IoT sector. Madrid-based Mioti, “the first 100% IoT institute in Spain”, is a place for companies, entrepreneurs and start-ups to develop their ideas. Banco Santander becomes one of four […]
Curve integrates with Xero to automate expense reports
London-based startup Curve, a mobile app that enables users to spend from all their accounts with one card, is dangling a juicy carrot in front of small business owners and freelancers—it will handle their expense reports.
No excuses from Revolut after server issues
The last 24 hours for payments start-up Revolut haven’t been kind after its services went down due to a server failure. Not only was it painful for the engineers working to ensure the services are back up, but also painful to the customers who at the time couldn’t access their accounts. Revolut CEO, Nikolay Storonsky, […]
Banking Technology October 2017 issue out now
Oh brave new world! Where transparency reigns. The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
Luxoft Financial Services acquires Unafortis for new global Avaloq practice
Luxoft Financial Services is moving into the Avaloq implementation and consulting business with the acquisition of Unafortis, a Swiss wealth management consultancy firm.
UK insurtech start-up Nimbla seeks SME market shake-up
Nimbla, a London-based insurtech start-up, has launched a platform offering UK SMEs credit control and single invoice insurance using cloud accounting, as well as underwriting rules agreed upon by Munich Re’s new business unit Digital Partners. The firm says it is looking to tap into the UK’s SME market that has a reported £5.8 billion […]
Top fintech stories this week – 29 September 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
IT services business AMS systems PSF acquired by Calligo
Calligo, a global cloud solution provider, has purchased AMS Systems PSF, a Luxembourg based IT services business that provides managed services and cloud infrastructure to the financial sector. Financial terms were not disclosed but the acquisition means big things for Calligo. Not only does it allow further expansion, but also access to AMS Systems’ technology […]
UK regulator unleashes new hub for sweet asset management
The UK’s Financial Conduct Authority (FCA) is setting up an asset management authorisation hub to support start-ups entering the lively market. In a speech at the “FT Investment Management Summit Europe 2017”, Megan Butler, executive director of supervision – investment, wholesale and specialist, FCA, says the hub will help start-ups as they move between pre-authorisation […]
Singapore payments start-up Instarem lands in Lithuania
Singapore-headquartered start-up Instarem has entered the European paytech arena and will now provide international money transfer services from Vilnius in Lithuania. The Bank of Lithuania has issued an approval for the electronic money institution (EMI) licence. As reported last year, the bank, the country’s central bank and regulator, promised to provide preliminary answers to financial […]
Mediterranean Bank live with new lendtech, Infosys Finacle
Mediterranean Bank in Malta has replaced its legacy lending solution with Infosys’ Finacle.
Italy’s first fintech hub comes to Milan
The Italian Ministry of Economy and Finance and the City of Milan have opened the “Milan Fintech District”, the country’s first hub dedicated to businesses in the financial industry. The hub is for start-ups, entrepreneurs, financial institutions, investors and universities to foster development and growth. Pier Carlo Padoan, Minister of Economy and Finance, says the […]
HSBC UK takes first step into open banking
HSBC UK is taking steps in a new direction with its first foray into open banking. Starting with the introduction of a new testing platform, HSBC Beta, this allows HSBC to get its feet wet before diving in with a fully fleshed out app for customers in 2018. Still, the testing platform won’t be no […]
SEB and Nasdaq working on blockchain prototype for Swedish mutual fund market
Swedish financial services group SEB and Nasdaq are working on a joint project to test a developed prototype for a mutual fund trading platform based on Chain’s blockchain ledger. The aim is to increase efficiency in the processing of purchases and sales of fund units and to create a unit ledger – an area which […]
Journalist refuses to leave fintech conference
For probably the first time in the generic and platitude-drenched world of fintech, a journalist is refusing to leave a conference. In the charming city of Amsterdam, at the end of the inaugural four-day show “If You’re API And You Know It, Keep It to Yourself for Once – 2017”; delegates, security and organisers were […]
HSBC and friends team up for integrated SME accounting
HSBC is expanding its existing bank feed services with the launch of a new online tool that enables SMEs to establish a data feed from their bank account to their accounting software. Its customers can now connect their bank accounts to their choice of accounting package – namely Xero, Sage and Intuit. Nadya Hijazi, global […]
BBVA analyses urbanites for big data dynamite
BBVA has launched Urban Discovery, an interactive tool open to everyone that analyses the cities of Madrid, Barcelona and Mexico City through the prism of their commercial activity. The bank says the analysis led to the creation of new maps that redraw urban borders and identify the most touristic and residential areas or those where […]
Deutsche Börse selects SmartStream RDU for regtech hub
Deutsche Börse Group has signed for the SmartStream Reference Data Utility (RDU), to use its managed service and tools for Deutsche Börse’s upcoming Regulatory Reporting Hub.
Commerzbank, KfW and MEAG simulate blockchain-based security transaction
Commerzbank, KfW Banking Group and MEAG, the asset manager of Munich Re and ERGO, have replicated a jointly traded euro commercial paper (ECP) in a blockchain environment.
American private equity firm makes $5.3bn offer for Nets
In response to media speculation, Nordic payments processor Nets has confirmed that it has received a DKK 33.1 billion ($5.3 billion) takeover offer. Evergood 5, a newly formed firm controlled by funds managed and advised by American private equity firm Hellman & Friedman, has made a recommended voluntary takeover offer to acquire Nets – offering […]
Europe’s top venture capital investors by country – CB Insights
CB Insights has mapped the top venture capital (VC) investors in Europe by country, based on number of portfolio companies the investor had backed. The research company analysed the most active investors in the last five years (2012-2017), including VCs, corporate VCs, growth equity firms and super angels.
Starling Bank seeks £40m funding for overseas expansion
UK-based challenger bank Starling is asking its investors for another £40 million in funding as it looks to grow its business overseas, according to Sky News. Sky News says it understands that Starling, which got its banking licence last year, has appointed Quayle Munro, an advisory firm, to oversee the fundraising. As reported by Banking […]
UK watchdog approves Cardtronics purchase of ATM provider DCP
Cardtronics’ $460-million purchase of rival ATM provider DirectCash Payments (DCP) has finally been approved by the UK’s Competition and Markets Authority (CMA). Back in May 2017, Cardtronics had to offer undertakings due to competition concerns, and initially didn’t. The CMA said at the time: “As Cardtronics has not offered these undertakings, the CMA will now […]
Fintech funding round-up: 22 September 2017
There was a round-up yesterday because fintech funding won’t go away. More action featuring Tuition.io, Apiax and Etch. Tuition.io, a US-based employer-funded student loan repayment assistance platform, has announced a $7 million Series B funding round led by Wildcat Venture Partners with participation from existing investors Mohr Davidow Ventures and MassMutual Ventures, the corporate venture […]
Swift gives final wave to four more CSDs on T2S
Swift has announced the migration of Iberclear (Spain) and the Baltic central securities depositories (CSDs) of Estonia, Latvia and Lithuania and their respective communities to live operations on Target2 Securities (T2S) using its value added network (VAN) solution. The migration marks the end of the T2S migration plan, which started back in June 2015. Since […]
Bankart and Nets to deliver new payments infrastructure to Slovenian banking sector
Bankart and Nordic payments processor Nets will provide the Slovenian banking sector with a new payments central infrastructure to handle both SEPA Credit Transfers (SCT) non-urgent and SCT instant credit transfers. The duo has signed an agreement where Nets will deploy and operate an instant payments solution for Bankart via Nets’ RealTime24/7 solution. The latter […]
Game, FactSet and match for Banco Santander Totta’s new online broker
FactSet, a US-based provider of financial information and analytics software to the investment management industry, has developed a new online broker offering for Banco Santander Totta in Portugal. The broker portal comes with an embedded trading functionality and a portfolio application. According to FactSet, the bank’s new web presence offers a “clear design with intuitive […]
Report: Fintech outside London
Reading the UK news you might think fintech innovation only comes from limelight-hogging London, but that isn’t the case. There are obviously other rival global centres of innovation like Berlin or Stockholm, but many other regional UK fintech hubs exist too. The Fintech outside London report looks at UK fintech firms working outside of the so-called […]
European Commission plans reform to get fintech to perform
The European Commission (EC) is proposing reforms to pave the way for further financial integration and a full capital markets union – with a handy boost to fintech included. President Jean-Claude Juncker, in his State of the Union Address, underlined the importance of the capital markets union and the EC’s plan to “promote jobs, growth […]
Ex-Barclays CEO’s start-up gets backing from China’s Ping An
10X Future Technologies, the start-up founded by ex-Barclays CEO Antony Jenkins last year, will announce this week that it has raised more than £30 million in funding from Ping An Insurance and management consulting firm Oliver Wyman, according to Sky News. The deal will speed up 10X’s expansion, and is good news for Jenkins’ ambitions. […]
It looks like no-one cares about data protection regulations
It doesn’t matter if they were given more than two years to get ready, with six months to go until the EU GDPR deadline, it’s going to be a sprint finish for a worryingly large number of companies, reports Telecoms.com (Banking Technology’s sister publication). That’s the view of law firm Blake Morgan. After conducting a […]
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.
