Nordea brings Samsung Pay to customers in Sweden
Nordea has launched the beta version of Samsung Pay in Sweden. The bank’s customers can use this new payment service to make in-store payments with their mobile phones.
Europe
UK and Japan regulators partner for innovation
The Financial Services Agency of Japan (JFSA) and the UK’s Financial Conduct Authority (FCA) have exchanged letters on a co-operation framework to support fintech companies. This deal will provide a regulatory referral system for “innovator businesses” from Japan and the UK seeking to enter the other’s market. The authority that receives such a referral will […]
Fidor’s digital banking right shot for Van Lanschot
Dutch wealth management firm Van Lanschot has chosen Fidor’s digital banking solution for an upgrade of its payments software and infrastructure. As part of the agreement, Fidor will manage user and account data and will process Van Lanschot’s payments flows within its fidorOS (fOS) platform, which is built using open APIs. It will also modernise […]
BBVA automates UK risk and reg reporting with Wolters Kluwer’s OneSumX
BBVA’s subsidiary in the UK has opted for Wolters Kluwer’s OneSumX solution for regulatory reporting and liquidity risk management.
Digital bank bunq goes international with open API
Digital-only banking start-up, bunq, has expanded beyond its native Dutch market to Austria and Germany with the launch of its open API.
Robo-advice case study: Munnypot
Robo-advice has captured a lot of attention in the financial services sector of late, so it is great to find an institution that is putting it firmly into practice. Banking Technology talks to Munnypot, a recent arrival on the UK market.
Android Pay heads down Belgium way
Android Pay is now available in Belgium – becoming the tenth country in the world to get it. It can be used at more than 85,000 retail locations throughout Belgium that accept contactless payments. Its purchase button can also be seen in apps like Deliveroo, TransferWise and Vueling, with other unspecified apps on the way. […]
Accenture opens innovation studio in Latvia
Accenture has opened a “liquid studio” in Riga, Latvia to help its clients with innovation and software development cycles. At the studio, its clients don’t get wet or drunk but work alongside Accenture engineers to turn concepts into products, “taking days to achieve what used to take months”. Maksims Jegorovs, Accenture Latvia lead, says clients […]
Austria’s Raiffeisen revamps trade finance tech with Intellect
Five Austrian Raiffeisen regional banks and Raiffeisen Bank International will implement Intellect Design Arena’s digital trade finance platform as the group looks to standardise its operations. Raiffeisenlandesbank Niederösterreich-Wien, Raiffeisen-Landesbank Steiermark, Raiffeisenlandesbank Oberösterreich, Raiffeisen-Landesbank Tirol and Raiffeisenlandesbank Vorarlberg Waren- und Revisionsverband regristrierte Genossenschaft mit beschränkter Haftung and Raiffeisen Bank International (RBI, a large banking group in […]
Seconds out for Monzo tech
Mobile-only challenger bank Monzo has been hit by tech issues for the second time this week. As Banking Technology reported on 6 March, payment outages caused major problems to cardholders and fintech services provides in the UK and internationally – and Monzo was one of the affected firms reporting issues with their payment processor. Today […]
Wirecard brings mobile payment app boon to Apple Pay in Ireland
Wirecard has launched its mobile payment app boon with Apple Pay in Ireland – and the app is “independent from any bank or telecom operator”. After the initial launch to the UK, France and Switzerland, Ireland is the fourth market where people can use boon with Apple Pay. Georg von Waldenfels, EVP consumer solutions with […]
UBS launches SmartWealth digital platform in UK
UBS Wealth Management has launched its new digital platform, SmartWealth, to tap into “a new audience” in the UK. The banks says it’s the first of its kind in the country.
Payments: looking down the regulatory pipeline
In the immediate aftermath of the 2007/8 financial crisis, measures to promote better conduct and improve customer protection and the resilience of the financial system dominated the regulatory agenda. More recently, regulators in many countries have added competition and innovation objectives to their agenda.
Banking Technology March 2017 issue out now
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
Atom Bank goes atomic with £113m funding plan
UK challenger bank Atom plans to raise almost £113 million in equity investment to support its ambitions for growth. As Banking Technology reported late last year, Atom opened for all customers in the UK. Its “invitation only” phase is over and people can download the Atom App, both in IoS and Android, and open an […]
DeVere enters international fintech space with Lithuania launch
Financial consultancy firm DeVere Group has taken advantage of Lithuania’s ambitions to attract fintech firms and set up a new office in the capital Vilnius. The Bank of Lithuania, the country’s central bank and regulator, recently issued an electronic money institution licence which made it possible for DeVere to establish its new subsidiary DeVere E-Money. […]
Bots and biometrics: The Mobile World Congress shows the future of payments
Bots, biometrics and wristbands stood out as examples of payments innovation this week at the annual Mobile World Congress in Barcelona. Judging by the product releases and displays, the future promises to involve more use of fingerprints in payments, and technology that allows quick purchasing from social media, reports Paybefore (Banking Technology‘s sister publication). Payment bots […]
PwC blockchain aims to win Oscar for London insurtech
PwC has created a working blockchain prototype for the London Market Target Operating Model (TOM) Innovation Exchange, as it seeks to use the tech for payments in the specialist insurance market. Completed over a six-week period, the proof of concept (PoC) focuses on “enhancing” interactions between multiple different London Market parties involved in a claims […]
Nordea preps for PSD2 with open banking portal
Nordea has released the first version of its open banking portal targeted towards external developers, as it gets ready for the Payment Services Directive (PSD2) requirements. Currently the site has “limited functionality” but unspecified pilot activities will be conducted through the portal during 2017, in advance of a full launch in Q1 2018. Jarkko Turunen, […]
Crypto Valley launch breathes life into blockchain and cryptography
Switzerland-based Crypto Valley Association has launched as the nation looks to boost its blockchain and cryptographic ecosystem. Headquartered in the Swiss canton of Zug, Crypto Valley is an independent, government-supported association which aims to foster the development of digital technologies in Switzerland and internationally. The association will support start-ups and established enterprises through policy recommendations, […]
Harrods Bank implements Temenos T24 core banking system
UK-based Harrods Bank is implementing a new core banking system, having abandoned the FIS Profile project, Banking Technology understands.
INTL FCStone launches world’s first web-based gold trading platform
INTL FCStone Inc’s London-based subsidiary has unveiled its physical trading platform for the global bullion market, PMXecute+. The precious metals division of INTL FCStone Ltd says PMXecute+ allows customers access to its global inventory and network of supply partners. It is also claimed to be the world’s first web-based gold trading platform. Barry Canham, global […]
Lemon Way takes on Stripe with new e-commerce payments solution
French fintech Lemon Way has launched an e-commerce payment solution across seven countries in Europe to rival Stripe.
WIR Bank launches new payment card for SMEs in Switzerland
Switzerland-based WIR Bank has launched a new payment card for domestic SMEs, with tech provided by SIX Payment Services. It combines the existing functions of the proprietary WIRcard and internationally accepted Visa’s V PAY debit card.
First new clearing bank in 250 years enters UK market, ClearBank
As first reported by Banking Technology, there is a newcomer on the UK challenger bank scene, ClearBank. The bank has now gone on the record about its focus and strategy. ClearBank will be a bank for banks, FIs and fintechs, i.e. a clearing bank, offering customers access to UK payment systems and core banking technology to support current account capabilities.
Hiccup for HSBC online banking
HSBC’s online banking went down for several hours today (27 February) – with its business customers particularly affected. The bank tweeted about the issues earlier today. We're experiencing some issues with our online services, we're working to resolve this. Apologies for any inconvenience caused. — HSBC UK (@HSBC_UK) February 27, 2017 Customers trying to access […]
The Monday mindset: 27 February 2017
Fintech zeitgeist! Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye. This week, our editor Tanya Andreasyan and deputy editor Antony Peyton look at what’s happened since they joined in February 2016. Like two Hollywood […]
RBS financial mess seeks digital redress
The Royal Bank of Scotland’s (RBS) poor financial results have led to its CEO calling for more cost reductions and a faster digital transformation. The bank reported an operating loss before tax of £4.08 billion for 2016 and an attributable loss of £6.95 billion, which included litigation and conduct costs of £5.86 billion, restructuring costs […]
Input Output goes to uni for blockchain lab
Input Output Hong Kong (IOHK), a blockchain architecture and development start-up, and the UK’s University of Edinburgh, have set up a blockchain technology laboratory within the university’s School of Informatics. The lab will bring together academics and students to collaborate on blockchain research and development with a focus on “industry inspired problems”. IOHK CEO and […]
bPay jewel in the crown for Barclaycard payments
Barclaycard has signed two new bPay partnerships to embed contactless payment technology in watches and jewellery in the UK. The agreements are also designed to complement bPay’s proprietary range – which comprises a wristband, fob, sticker and loop – and the existing partnerships that already see the technology, which is powered by Visa, embedded within […]
UK and Canada buddy up for fintech businesses
The UK’s Financial Conduct Authority (FCA) and Canada’s Ontario Securities Commission (OSC) have signed a new co-operation agreement to help fintech firms. The deal will enable fintech businesses in both countries to seek support from the financial regulators in each other’s market. It will also help reduce regulatory uncertainty and time to market for firms. Christopher […]
Brightstarr shines for Eurobank digital workplace dream
Eurobank, Greece’s third largest bank, has selected Brightstarr’s Unily hub as its digital workplace solution for that famous fintech trinity of innovation, communication and collaboration. Sotiris Sirmakezis, group chief digital and technology officer, says: “Unily’s combination of experience design and Microsoft expertise will help ensure Eurobank provides a great user experience that will ultimately improve […]
UK’s Community Savings Bank Association selects TCS Bancs core banking system
New challenger Community Savings Bank Association (CSBA) has chosen TCS Financial Services’ Bancs core banking system on the cloud for its member banks across the UK. Last year, Banking Technology was the first publication to report on CSBA joining the British banking market. The association, which is registered as a co-operative society plans to set […]
Starling Bank launches open banking hackathon
UK challenger bank Starling is to host its first hackathon, opening up its API to outside developers. According to Starling, the hackathon makes it the first UK licenced bank to launch a public API in keeping with the ambitions of the Second Payment Services Directive (PSD2) and the open banking initiative. Megan Caywood, chief platform […]
Digital gets a spurt with Natwest and RBS experts
To raise awareness about online and mobile banking and help customers use digital platforms, NatWest and Royal Bank of Scotland (RBS) say they aim to deploy a “TechXpert” at every branch in England, Scotland, and Wales. NatWest is part of the RBS group, and at 1,000 NatWest and 2,000 RBS branches, these experts will help […]
RateSetter gets Plum deal for investing
Plum, an artificial intelligence (AI) powered Facebook chatbot, has teamed with peer-to-peer investing platform RateSetter to encourage the UK to save more. Plum says its algorithm understands spending patterns, identifies income and bills and creates a unique profile for each one of its users. It calculates a small amount of money to save or invest […]
Blockchain and Bitcoin round-up: 22 February 2017
Jargon defeated. Unnecessary words deleted. A brief round-up. Featuring Adel, Bitfinex and crime. If something’s rotten in the state of Denmark, it’s going to get found out. Danish newspaper Berlingske has revealed that police stopped drug traffickers by tracing Bitcoin transactions. It’s not the first time great Danes have done good deeds. Last month, the […]
IBM and Northern Trust debut blockchain for private equity
IBM and financial services firm Northern Trust have launched the “first commercial deployment” of blockchain for the private equity market. The blockchain is based on the Hyperledger Fabric and is available for use for managing the administration of a private equity fund managed by Unigestion, a Switzerland-based asset manager with $20 billion in assets under […]
TSB picks Iress for mortgage tech upgrade
TSB has chosen Iress’ mortgage sales and originations (MSO) solution – with the first deployment due to be rolled out to TSB’s intermediary channel in the summer. Branch, telephony and digital will follow in a phased rollout at unspecified times. Ian Ramsden, mortgages director, TSB, says Iress is a “natural fit to support our technology […]
European Online Transaction Rule Revised after Payments Industry Complaints
After absorbing hundreds of complaints from the payments industry, the European Banking Authority will relax its pending customer authentication rules for online transactions. But given the rise in popularity of online shopping, the new threshold of 30 euros before two-factor authentication is required may not be enough to assuage industry concerns.
