Misys goes gaming for banking tech
Misys is introducing gamification capabilities into its FusionBanking Essence Digital platform with Moroku’s GameSystem (also known as Gameo).
BankingTech
FirstOntario Credit Union swaps Fiserv’s Signature for Temenos’ T24 core banking system
Canada-based FirstOntario Credit Union has moved from its legacy Fiserv’s Signature core platform to Temenos’ T24. Validata, a specialist in enterprise software testing and release automation, assisted with the conversion process.
Will 2017 be the year financial services improve their UX?
2016 has been a big year for user experience (UX). The web, as a whole, became easier to use, apps became more intuitive, and services became a lot more engaging and purposeful. But could the same be said for financial services? Perhaps…
Emerging payments hot topic on social media, Mastercard study finds
Consumers are expressing interest in and enthusiasm for emerging payment methods in their social media conversations, according to a new Mastercard report. Paybefore (Banking Technology‘s sister publication) reports that Mastercard’s fifth annual Digital Payments Study analysed more than 3.5 million public interactions in 2016 between consumers on social media channels – including Facebook, Instagram and Twitter […]
IBM and Maersk first for cross-border supply chain on blockchain
Maersk and IBM have unveiled the “first industry-wide” cross-border supply chain solution on blockchain. According to IBM, 90% of goods in global trade are carried by the ocean shipping industry each year. Their new blockchain solution will do the usual things – help manage and track the paper trail of shipping containers across the world […]
The National Bank in Palestine live with Temenos T24 core banking system
Palestine-based The National Bank (TNB) has gone live with Temenos’ T24 core banking platform. The project has been underway since 2014.
Monzo, Revolut, Loot, U Account and other fintechs let down by payments processor
Payment outages have caused major problems to cardholders and fintech services provides in the UK and internationally. This is understood to be down to payments processor Global Processing Services (GPS).
Hellenic Bank to launch open APIs
Cyprus-based Hellenic Bank is readying the first project by its recently unveiled innovation lab – open application programming interfaces (APIs).
The big fight brewing over strong customer authentication
Late last year, Visa fired a volley – unlikely to be the last – over new rules that it and all providers of online transactions will soon need to follow as part of the EU’s revised Payment Services Directive (PSD2). It has some doom-laden predictions.
Banks not fine with $321bn paid in fines
Banks are stumbling along amidst the cumulative financial penalties of $321 billion handed out to them since the financial crisis. In a new report by the Boston Consulting Group (BCG) – “Global Risk 2017: Staying the Course in Banking” – it says “prudent operations will be required to avoid the errors of the past” and […]
Scotiabank completes blockchain trial with Alphapoint
Alphapoint, a San Francisco-based financial services infrastructure firm, has completed a blockchain proof-of-technology trial for Scotiabank, leveraging its Alphapoint Distributed Ledger Platform.
Top fintech stories this week – 3 March 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Race to patent Bitcoin tech heats up
The man who claimed to be Satoshi Nakamoto, the creator of Bitcoin, is now working on filing patents for the currency, according to Reuters. In a lengthy investigative report, Reuters says Craig Wright is “working with a fugitive online gambling entrepreneur to file scores of patents relating to the digital currency and its underlying technology, […]
Culture in investment banks is a ticking time bomb for employers
Recently I have been recruiting for a senior analyst position. We have reviewed over 40 CVs for a senior analyst position, and only two have been from women.
Survey smiles on worldwide payment schemes
Developing new services, adopting the latest technologies and collaboration are the top priorities among payment schemes worldwide, according to a new study.
Société Générale extends partnership with Lombard Risk to global markets
UK-based regtech and risk management vendor Lombard Risk has extended its “global strategic partnership” with Société Générale. The bank will roll out Lombard Risk’s collateral management system, Colline.
Nordea releases new automated FX handling tool
Nordea Cash Management and Nordea Markets have launched AutoFX, an automated FX handling tool. Nordea says it is the first bank in the Nordics to offer this type of solution. AutoFX was developed in collaboration with a “large Nordic customer in the media industry”, in an effort to help modern treasury functions automate their daily […]
Baloise to invest $50m in insurance and risk management tech start-ups
Switzerland-based insurance provider Baloise Group has forged an investment partnership with Anthemis Group, a digital financial services investment and advisory firm. Together, they will curate European and American tech start-ups developing insurance (insurtech) and risk management solutions, with a mandate is to invest CHF 50 million ($50 million).
DTCC steps up DLT trial for repo transactions
The Depository Trust and Clearing Corporation (DTCC) announced that the proof-of-concept to improve the netting process for repo transactions using distributed ledger technology (DLT) has been successfully completed.
Bank for International Settlements issues analytical framework on DLT
The committee on payments and market infrastructures at the Bank for International Settlements (BIS), an international financial institution owned by central banks, has issued an analytical framework on distributed ledger technology (DLT) in payment, clearing and settlement.
Mobile: the banking industry’s biggest ultimatum
An app is no longer a “nice to have”. As consumers expect businesses to engage with them at the right time, in the right manner, and over the right channel, a bank’s mobile app will be a crucial first point of contact for many customers. But it’s important to remember that an app by itself is not some wonder-cure that will instantly give a financial organisation perfectly satisfied customers.
Santander employs IBM for employee digital boost
IBM’s MobileFirst for iOS apps will be used by Santander as the bank looks to revamp its digital banking services and help its employees work better. The custom-built, native apps made for iOS will be rolled out across more than 11,000 iOS devices, and will be used by Santander’s commercial network employees, including those supporting […]
Infographics: the biggest bitcoin crashes in the last decade
Bitcoin underwent a lot of ups and downs in its brief history. This nifty infographics (courtesy of Investoo.com) offers a lowdown on major crashes during the early years of this digital currency experienced by Bitcoin traders.
Barclays’ banking takes weekend off
Customers at Barclays Bank suffered a worrying weekend due to problems with cash machines, debit cards and phone banking. At 2pm (UK time) on 25 February, Barclays become aware of the issues and advised customers to use other banks’ cash machines. The customers would probably have worked that out for themselves. Technical issues are affecting […]
ITSS delivers Temenos’ T24 core banking system to SAFA Bank
SAFA Bank, a new Islamic bank in Ramallah Palestine, has gone live on the Islamic version of Temenos’ T24 core banking system. The project was delivered by the vendor’s partner ITSS Global.
Cybersecurity: computers or humans – where does the threat lie?
Digitalisation plays a key role in the fight against payment fraud. Yet Commerzbank’s cybercrime specialists in cash services show that even in this technologically advanced environment, security threats persist. Companies must take steps to ensure that human beings – as well as computers – are protected against crime.
Top fintech stories this week – 24 February 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! IBM and Northern Trust debut blockchain for private equity Uses the Hyperledger Fabric. Visa opens new innovation centre in London It’s the latest and largest one. Digital gets a spurt with Natwest and RBS experts Every branch gets […]
Fintech funding round-up: 23 February 2017
Let’s put the fun in funding by keeping it mercifully brief. A round-up of key events. Featuring Tala, Nymbus and Monzo. US micro-loan start-up Tala (formerly InVenture), led by founder and CEO Shivani Siroya, has raised $30 million in Series B funding. The money will support its expansion plans in South Asia and Latin America. […]
Need for human connection in digital banking
Technology may rule the world, but human connection is still king.
ING and Société Générale oil up on blockchain
ING and Société Générale have used blockchain to carry out a live oil trade between parties with Mercuria, the global commodity trading group. The platform, called “Easy Trading Connect”, is designed for paperless trading and aims to digitalise and standardise commodity transactions in order to “increase speed and efficiencies” in the trade process. The prototype […]
Europe and Asia fuel Temenos earnings rise
Banking software vendor Temenos has reported total software licensing growth of 21% and earnings growth of 20% in its full year 2016 results. The vendor is in a vivacious mood, saying it saw growth across all geographies, with Europe and Asia “particularly strong”. Non-IFRS total software licensing revenues in FY 16 were $256.2 million. Total […]
The Monday mindset: 20 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 we welcome the views of Richard Stevenson, CEO, Red Box Recorders, on the future of banking. Real-time converge, capture and analyse! This […]
How to make a success out of blockchain
There is pressure for CEOs to decide how distributed ledger technology (DLT) fits into their business strategy. Regulators also recognise that blockchain could advance their own processes. So what is all the excitement about? Blockchain is an exciting innovation but the technology has flaws…
White paper: data science for banking and insurance
The disruptive threat is real, but the battle is not lost. Download this white paper for practical advice on surviving and thriving in the era of internet giants and fintech start-ups.
Top fintech stories this week – 17 February 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Mobile payments in the age of the customer
The mobile payment market is getting more congested every day. For banks, it’s the most frequent touchpoint – one that can help (re) establish everyday relevance and drive engagement. How can banks develop their strategy and prioritise the capabilities that will help them remain valuable to their customers?
Swift’s global payments innovation initiative now live
Major global transaction banks are now live with Swift’s global payments innovation (gpi) initiative.
Mobile money: the state of play
With mobile money technology widely available, and so many citizens having access to a mobile phone, how many are actually banking in this way? What are the benefits available to them when using mobile money? And what does the future hold for this fintech innovation?
Hellenic Bank unveils innovation lab
Hellenic Bank has opened an innovation lab in its home city of Nicosia, Cyprus.
The Monday mindset: 13 February 2017
Fintech zeitgeist! Welcome to our new series of brief reports. 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 we welcome the views of our editor Tanya Andreasyan. Dear PR, we know you […]
