SnoCope CU, a small credit union in the US state of Washington, is revamping its core processing technology with CUProdigy. The new cloud-based platform will replace Fiserv’s Galaxy solution.
Venmo is planning to introduce a physical debit card to supplement its payments app.
Banco de Mexico, the country’s central bank, is replacing its legacy risk management software with Finastra’s Fusionrisk.
Greater Wyoming Federal Credit Union has ditched its incumbent core software provider for Fiserv. The credit union has implemented Fiserv’s Portico core processing and digital banking system on a hosted basis.
Valley National Bank, a $23 billion regional bank holding company headquartered in northern New Jersey, is undertaking a widespread technology refresh to improve customer experience and profitability.
Morgan Stanley has unveiled an innovation lab with the aim of promoting diversity top of the agenda. According to the Financial Times, which has seen an application form, a four-month programme will begin in July and end in a symposium that will “expose companies to potential investors through showcase presentations”. The FT says any start-up […]
PayPal users in the US will soon be able to speed up money transfers to their bank accounts via eligible debit cards linked to their PayPal account. Bill Ready, EVP, COO, PayPal, says it expects that funds “will typically be available in your bank account in a matter of minutes, although some banks may take […]
Texas-based Lone Star Credit Union has become the 50th live site for the Keystone core processing system, supplied by Corelation.
Sandia Laboratory Federal Credit Union (SLFCU), the largest credit union in the US state of New Mexico, is modernising its front-to-back office technology with Alkami Technology and Corelation.
Rhode Island-based Citizens Bank is partnering with Bottomline Technologies to unleash a brand spanking new online and mobile banking platform for its commercial and business banking clients. The new digital banking platform offers a suite of cash management and payment services. The application features simplified transactions; integrated payment workflows; user personalisation with self-service capabilities; and […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Minnesota-based Affinity Plus Federal Credit Union has selected Fiserv’s Architect platform for a digital banking overhaul. The credit union will use Architect to help its online and mobile customers in branches, over the phone, and through digital channels. Dave Larson, president and CEO, Affinity Plus Federal Credit Union, says Fiserv has “the size and expertise […]
Payments services provider Circle is offering its customers in the US, UK and Europe the ability to send and receive money across borders with no fees and no mark-up on foreign exchange (FX) rates. The firm says it is “just like sending email or sharing photos” – meaning it’s “free and instant”. There will be […]
USAA, a banking and insurance provider that focuses on the US military personnel and their families, has made a “strategic investment” in machine intelligence software vendor CognitiveScale.
Glenmede Trust Company, a US-based investment and wealth management firm with $34 billion of assets under management, is consolidating its institutional and wealth operations on Charles River’s Investment Management Solution (IMS).
Florida-based Surety Bank is embarking on a core banking software overhaul with Nymbus. The bank will implement Nymbus’ flagship SmartCore system. The solution will be delivered in a private cloud.
More banks and credit unions have joined Zelle Network, a new peer-to-peer payments platform in the US.
California-based Redwood Credit Union (RCU) has launched a new mobile peer-to-peer payment solution, RCUPay. “RCU ends the IOU,” the credit union states.
California-based SafeAmerica Credit Union is building a new omnichannel banking platform with fintech start-up Bankjoy.
American Express Global Business Travel (GBT) has opted for SunTec’s Xelerate billing system for its corporate clients. According to SunTec, its platform can onboard new geographic regions and “weaves data locked in various legacy and modern billing systems” to create relevant offers for American Express GBT’s corporate clients. Michael Konstas, VP of billing strategy at […]
With MiFID II in mind, Royal Bank of Canada (RBC) has teamed with Commcise for a service that lets research funds be held in a segregated research payment account (RPA) established in the name of a buy-side client. Commcise’s technology will provide a broker-neutral, independent and un-conflicted platform to help management of the research payment […]
Canada’s banking group CIBC, fintech firm Borrowell and Equifax Canada have unveiled a free credit score for mobile banking users – a “first for a major Canadian Bank”. The credit score is accessed through the CIBC mobile banking app, and clients can get their Equifax credit score which will be updated quarterly, allowing them to […]
Argent Credit Union in the US state of Virginia has converted to a new core processing platform, Keystone from domestic software developer Corelation.
Private equity firm GTCR will buy Virginia-based Sage Payment Solutions (SPS) for $260 million. Chicago-based GTCR is acquiring SPS from the Sage Group, a provider of accounting, payroll and payment solutions headquartered in the UK. GTCR says it will work with SPS management to pursue organic growth and fund future acquisitions in the payment processing […]
IBM Security has launched fintech programmes and partnerships to overcome the projected 1.8 million-person cybersecurity worker shortage and boost its market share. As part of its initiative, IBM is sponsoring alternative education models such as Hacker Highschool and Pathways in Technology Early College High School (P-TECH). It is also looking to change traditional hiring models […]
The results from phase two of Canada’s plan for a blockchain-powered interbank payment system reveal that it still faces many obstacles. The Bank of Canada, Payments Canada, R3 and seven commercial banks, have disclosed their report from Project Jasper, an experimental wholesale interbank payment system. First launched in 2015, the results so far show that, […]
Android Pay is set to launch in Canada on 31 May, according to sources that gave news site MobileSyrup internal documents. MobileSyrup says there are still a number of questions that need to be answered regarding the payment service, “including specific bank partners and how setting up the payment platform with a Canadian debit and […]
FIS will sell off its majority ownership stake in Capco to private equity investment firm Clayton, Dubilier & Rice (CD&R), establishing Capco as an independent company. FIS will sell approximately 60% equity interest in Capco, the public brand for its management consulting offering, and receive net cash proceeds of $477 million. Upon closing, FIS will […]
Israel Discount Bank of New York (IDBNY) has chosen Linedata’s lending and leasing solution Capitalstream. IDBNY will use Linedata Capitalstream to manage its entire commercial lending origination process and ongoing account monitoring, implemented alongside Linedata Hosting to enable the rapid roll-out of the solution. Louis Turano, SVP of IT, IDBNY, says by implementing both solutions, […]
Missouri-based Great Southern Bank has selected nCino’s Bank Operating System for a revamp of its commercial loan process. The bank has more than 100 offices in nine states, and has grown as a result of acquisitions and organic expansions over the past eight years. According to nCino, this growth prompted the bank to look for […]
Our Community Credit Union (OCCU), a $328 million institution in the US state of Washington, has selected BankBI’s financial and banking performance software.
Android Pay users on Google Chrome mobile web can now pay online using their PayPal account and their fingerprint – without needing to enter in their username or password. As reported last month, Google inked several deals with PayPal (and banks) to advance its Android Pay, and this latest partnership expands it even more. Bill […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Payments Canada has revealed the ten paytech, artificial intelligence (AI) and regtech start-ups who will compete at its “Dragons’ Den-style competition” in Toronto. Called the FinTech Cup, a collaboration between Payments Canada, 500 Startups, and the Digital Finance Institute, it wants to help innovation, find talent, and drive funding for the finalists. Money on offer […]
Wells Fargo has selected two new companies – ProxToMe and Uniken – to join its Wells Fargo Start-up Accelerator.
Crosstown Civic Credit Union, a 31,000-member institution in Winnipeg, Canada, is modernising its digital banking delivery channels with Central 1 Credit Union. Crosstown Civic CU is implementing Central 1’s MemberDirect platform, provided on a hosted basis.
North Carolina-based Coastal Federal Credit Union and eight partners have unveiled Constellation Digital Partners – an organisation offering the “first and only” suite of digital financial services dedicated solely to credit unions. The creation of the firm and its platform is the result of a three-year long R&D effort, which culminated in the filing of […]
Ohio-based First National Bank of Pandora has selected Fiserv’s Premier core account processing platform for a front-to-back office technology overhaul. The bank has also chosen Retail Online and Business Online from Fiserv for consumer and business online banking, Mobiliti for mobile banking, CheckFree RXP for electronic bill payment, and Web Hosting and Design Services. Todd […]
Digital money transfer service WorldRemit is now available in the US and it is targeting the nation’s migrant market with its mobile money services. The firm wants to tap into the $135 billion US remittance market (the global market is $600 billion) – and says mobile money lets people in emerging market economies send and […]
Moneycorp in the UK has signed an agreement to acquire US-based payments firm Commonwealth Foreign Exchange (Commonwealth FX). The acquisition, subject to regulatory licensing approvals, will allow Moneycorp to “extend the geographical reach of its payments platform”. Nick Haslehurst, chief financial and operating officer at Moneycorp, says it sees “huge potential in the US among […]
