The four things that will make or break bank risk management
What will make or break bank risk management? Victoria Chatterton, strategic director of RiskMinds, gives the lowdown.
BankingTech
Improving operational efficiency through digital transformation
With increasingly demanding customers, and competition from fast-growing fintech companies, banks are facing new pressures to digitise their offerings. Developing new software is key, but finding a reliable means to quantify the productivity of software teams and quality of code is increasingly difficult. How can banks be sure they are getting a reasonable output from the large investments they make in software engineering?
Analysis: the trend toward best practice in institutional FX settlement
Marisa Kurk, senior managing director and COO of Mesirow Financial Currency Management group, explores best practices in foreign exchange (FX) settlement.
R3 and TradeIX plan open account trade finance DLT network
Enterprise software firm R3 and trade finance specialist TradeIX are developing an end-to-end open account trade finance business network which will be powered by TradeIX and R3’s Corda distributed ledger platform. The initiative is a joint undertaking between the duo, and 12 financial institutions including Bangkok Bank, Barclays, BBVA, Bladex, BNP Paribas, Commerzbank, CTBC Bank, […]
SunTec Xelerates its open banking ambitions
SunTec has unveiled its out-of-the-box open banking solution, offering preset configurations and definitions, through its Xelerate billing system. With the rise of open banking, SunTec wants to join the throng looking to prosper in a very competitive and crowded market. The firm says banks can use the layer to get business value from their APIs […]
White paper: From traditional bank to marketplace bank
Many industries have already been technologically disrupted. Financial services and banking won’t be any different. New digital banking platforms will emerge with an automated, compliant core and a connection layer for all kinds of third party services to tap into. This is API banking, or marketplace banking.
Cashplus Expands with £30 Million Debt Facilities Led by RBS
Cashplus, a London-based alternative financial services provider—and Top 5 Best Challenger Bank—has announced two new, three-year funding arrangements totaling £30 million (US$40.52 million). The company will use the credit to expand its lending products for SMEs.
Banks going Kodak
When was the last time you visited a bank branch? While the rise of the internet, banking shifted the customer interaction from the branch to the web, the business was still owned and run end-to-end by the bank and at lower cost. For a few years now, the landscape has altered significantly bringing Kodak to […]
How millennials are shaping the future of payments
For the millennial generation, paying for a latte using a contactless card, transferring money to a family member or friend online or buying a pair of trainers with “one click” has become the norm. This generation has not only shaped and driven the payments revolution, but is also playing an active role in developing a lot of the payment technologies emerging today.
Digiliti Money plans to delist from Nasdaq
Digiliti Money (DGLT), which is in merger negotiations with Urban FT, is planning to delist from the Nasdaq, according to its most recent SEC filing.
Top fintech stories this week – 22 September 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Santander International in digital banking revamp
EXCLUSIVE: Santander International is embarking on a tech project to modernise its online and mobile delivery channels.
ICSFS signs new core banking system deal in Iraq with Al-Thiqa Islamic Bank
Al-Thiqa Islamic Bank, a banking start-up in Iraq, has opted for the ICS Banks Islamic system from ICS Financial Systems (ICSFS).
Corporate banking: work smarter, not harder. On user self-onboarding
Why would a bank let their corporates indulge in setting up system privileges online – without keeping close tabs on the process? Here’s why.
Digiliti Money Filing Reveals Deal Progress
Digiliti Money (DGLT) may have gotten knocked down, but it’s not out. And neither is a revised bid from prospective buyer Urban FT.
Has the face of payments changed forever?
Marieke Flament, European MD at Circle, discusses how technology is transforming the global payments landscape.
STACK Taps Mastercard Prepaid for Challenger M-Banking App
There’s a new fintech challenger in town. Toronto-based STACK announced its partnership with Mastercard two weeks ahead of the beta launch of its mobile financial services app and companion prepaid card.
National Bank Investments signs for FactSet’s risk management tech
National Bank Investments (NBI), a subsidiary of National Bank of Canada, has opted for FactSet’s multi-asset class risk model, workstation, and analytics suite as its investment risk management and manager due diligence system.
Q2 launches CardSwap with Chime Banking
Digital banking technology company Q2 Holdings Inc. took the Finovate stage to demo its CardSwap technology.
R3, RBS and UK regulator build regtech prototype for mortgages
Enterprise software firm R3, the UK’s Financial Conduct Authority (FCA), RBS and another unnamed bank have built a prototype application for regulatory reporting of mortgage transactions on R3’s Corda distributed ledger technology (DLT) platform. The application is also able to generate automated delivery receipts for the regulator when a mortgage is booked. The application was […]
Santander revamps corporate client onboarding with Fenergo
Client lifecycle management (CLM) software vendor Fenergo has landed a deal with Santander Global Corporate Banking – to revamp its client onboarding process. Fenergo CLM will be rolled out to Santander’s operations in Europe, Asia and the Americas, across multiple business lines.
Payments: where have all the correspondents gone?
At the recent G20 meeting in Germany, Financial Stability Board (FSB) briefed leaders on its efforts to arrest the decline in correspondent banking relationships. FSB also presented the results of a survey of more than 300 banks in 50 countries, supplemented by Swift payments data, which showed that the number of correspondent banking relationships continues to decline globally.
Fintech funding round-up: 11 September 2017
Money is the honey keeping fintech sweet. Our latest funding round-up features Linxo, Rubique and TNG. French start-up Linxo, which offers a budget management app, has raised €20 million from Crédit Agricole, Crédit Mutuel Arkéa and MAIF (a mutual insurance firm) – bringing the funds raised since its launch to €23.2 million. MAIF is a […]
The Monday mindset: 11 September 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, Tim Rogers, engineer at London-based start-up GoCardless, asks do we need to kill screen scraping? If you work in this industry you’ll […]
The future of cross-currency payments
The landscape of cross-currency (FX) payments is taking on a whole new look – creating challenges for corporate financial managers and the need for new banking solutions.
Lloyds Bank’s new bookkeeping service is a keeper
Lloyds Bank has launched a new service to help businesses manage their bookkeeping without manual intervention. Called Lloyds Bank Direct Bank Feed it allows clients to receive their statement information directly into their accounting software – “eliminating the need for businesses to manually input their bank statements and reduce the time spent reconciling accounts”. Steve […]
Overcoming board-level cybersecurity obstacles in the financial services industry
Today’s financial services institutions are challenged to keep pace with changing and covert cybersecurity threats. Since financial institutions are among some of the most appealing targets for hackers, it is critical for these organisations to remain extra vigilant about securing confidential information.
Be honest about digital transformation, it’s a risky business – BT Security CEO
The risks are big, but the opportunities are even bigger; that’s why only the bravest are making the most of the digital economy to date.
BCBS ponders implications of fintech developments, calls for public feedback
Basel Committee on Banking Supervision (BCBS) has published a report, “Sound practices: implications of fintech developments for banks and bank supervisors”, and is asking for public feedback until 31 October 2017.
Fintech: why commercial banks must follow retail banking’s lead
It’s been seen as the ultimate clash of cultures. The baseball cap and T-shirt versus the formal suit and tie; the young, quick-thinking fintech versus the risk-averse multinational corporate; David versus Goliath.
Banking Technology September 2017 issue out now
Welcome to fintech central! Good service operating on all lines. The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
Fiserv completes takeover of Monitise
US tech giant Fiserv has completed its acquisition of Monitise, a UK-based mobile payments software and solutions provider.
E-book: Top 5 challenges of digital transformation and how to tackle them
Get practical advice for overcoming the top 5 challenges of digital transformation, revealed by research in over 1000 enterprises around the globe. Are you struggling with inflexible legacy technologies? Or a lack of collaboration between business and IT teams? You’ll find the answers here. Download your copy of the Bizagi e-book to see: The 5 most […]
Artificial intelligence round-up: 31 August 2017
Where’s the humanity? Well, not here as this is an artificial intelligence (AI) round-up. Features Royal Bank of Canada, Emirates NBD, and the ten greatest threats to mankind. Royal Bank of Canada (RBC) has announced a pilot launch of two digital services based on AI that offer insights about client’s financials and an automated savings […]
Fintech: beware the fake news
In every aspect of life, sentiment overshoots. We overbuy and oversell securities. The political pendulum swings from left to right. Shops run out of ultra-fashionable goods only to heavily discount excess stock a couple months later. Ben Robinson, chief strategy officer at Temenos, explains how this is not a new phenomenon, but has got worse […]
Top 5 Best Challenger Banks: Fidor Bank
Our final spotlight article for our Top 5 Best Challenger Banks list is the only actual bank in the bunch. See how Germany-based Fidor Bank stacks up against the high street banks and its nonbank competitors.
Webinar: Lessons learned from the first year of CRS reporting obligations
Financial institutions face unprecedented data management and compliance challenges as they continue to grapple with multiplying CRS and FATCA (AEOI) related global tax transparency regulations. A year on from our first FATCA and CRS survey, Thomson Reuters and Banking Technology joined forces to survey the industry – to assess the challenges faced by financial institutions […]
Digiliti Money and Urban FT in “advanced” acquisition talks
Prospective buyer Urban FT Inc. confirmed on Aug. 25 that it’s in “advanced negotiations” with Digitili Money regarding a “potential transaction that will see DGLT stave off potential bankruptcy proceedings.”
Top 5 Best Challenger Banks: Varo Money
“There’s a reason that the bank of the future hasn’t been created yet—it’s extremely difficult,” says Top 5 Best Challenger Bank Varo Money. See if you think they’ve got what it takes to rise to the challenge.
Banking Technology Awards entry deadline extended
Due to high volume of requests, the deadline to enter Banking Technology Awards is being extended. The final chance to enter the Awards is now Friday, 8 September 2017. Nominate projects, products, services or partnerships for a Judged Award or tell us about inspirational people by nominating them for a Leadership Award. Full details on […]
