Tradition, the interdealer brooking arm of Compagnie Financière Tradition, is poised to launch a new EU-regulated multilateral trading facility (MTF) for collateral and secured deposits. Dubbed Elixium, it will open for business in May this year. “Elixium has been developed to address the growing need for a transparent, open to all, peer-to-peer, regulated marketplace,” says Tradition. […]
A new mobile banking service in Denmark, Lunar Way, is gearing up for launch as it has secured a local partner, Københavns Andelskasse (Copenhagen Cooperative Bank). Lunar Way is itself not a bank, but is a provider of digital financial services, similar to Simple or Moven. Its model is to partner with established banks (that have […]
Swiss banking technology vendor NetGuardians has signed Swissquote Bank for its RiskGuardian solution. It will ensure data confidentiality compliance. RiskGuardian includes the NGScreener enterprise software platform along with predefined controls for specific regulations, such as the FINMA 2008/21 Appendix III regulation related to client confidentiality. Like with many of NetGuardians’ clients, Swissquote is a Tememos’ […]
Russia-based Sberbank has implemented Wolters Kluwer’s risk management solution, OneSumX, to streamline its treasury operations. OneSumX will enable the bank to perform dynamic simulation, market risk analysis and liquidity risk analysis, says the vendor. There was an extensive system selection, says Wolters Kluwer, with around 30 providers on the long list. Andrey Prudnikov, treasury director […]
Hargreaves Lansdown, a financial service company based in Bristol, UK, has gone live with Calastone’s funds settlement system, Calastone Settlements. Danny Cox, head of communications at Hargreaves Lansdown comments that “automatic matching of trades and the netting of settlement positions early in the day will improve the efficiency of our operational and treasury teams”. He […]
A search for fintech now returns nearly ten million results – astounding, when you consider the first searches were recorded in 2005. But how many of those results focus on, or indeed are sourced from fintech innovators in the truest sense of the word, asks Philippe Gelis, CEO and co-founder Kantox. The reality is that fintech is […]
Kasikornbank (Kbank), one of the largest banks in Thailand, says it is to spend THB 5 billion ($142 million) per year in a digital banking transformation project. Kbank, the country’s fourth-largest lender by assets (THB 2.5 trillion/$71 billion), says it has the largest share of the digital banking market with 38%. It is now looking […]
Infosys Finacle and software firm Onegini are partnering to integrate Onegini’s mobile security platform with Finacle banking solutions. Using this solution, Infosys says banks can offer customers an option to select “advanced” authentication methods, including fingerprint, facial, eye and voice recognition as well as multi-factor authentication for “added security” as they transact on devices. The […]
In a world where prudential regulatory rules are interlinked the old temptation to explore one regulatory development at a time is damaging. Regulatory reporting, and the technological systems behind it, need to adapt if we are to avoid past mistakes, writes Selwyn Blair-Ford, head of global regulatory policy at Wolters Kluwer. Here’s a scenario that […]
Mobile point-of-sale (mPOS) is revolutionising the POS terminal industry. In two years, the market is estimated to be worth $43 billion. By 2019, 46% of all POS terminals in 2019 are expected to be mPOS. Over the next four years, the market is poised to grow by 400%. This nifty infographics – courtesy of FIME – […]
The National Bank of Kyrgyzstan is inviting bids for the implementation of a new informational-analytical system (IAS). The submission deadline is 17 June 2016 and the bank says it has received a credit/grant from the International Development Association toward the cost of the financial sector development project. The project is conducted under the auspices of […]
Misys today is launching Misys FinCloud, a range of cloud solutions and “global cloud environment” for its clients. It is supported by “selected global and local infrastructure providers, systems integrators and solution partners”, including Rackspace and NTT Communications, Misys says. With Misys FinCloud “clients gain faster access to innovation through shorter and more predictable on-boarding […]
UK-based challenger bank Mondo is on a recruitment drive to find senior executives. Mondo, which positions itself as a “mobile first” bank, will be offering a contactless debit card paired with a mobile banking app to its customers. As part of this ambition to end the “tyranny of legacy banks” it is advertising for two […]
Morgan Stanley has brought blockchain back to earth, calling it a “double-edged sword” because while it helps banks reduce clutter, profits could fall or shift to new players. In its 31-page report, “Global Insight: Blockchain in Banking: Disruptive Threat or Tool?”, the company predicts blockchain’s “widespread potential to disrupt financial intermediaries” but says there are […]
Bank of Ireland, one of Ireland’s “big four” banking players, is looking to modernise its legacy software, Banking Technology understands. The bank’s current set-up is outsourced to Accenture, which manages its group technology and change division. The deal was signed in 2014, and around 200 staff transferred to Accenture from Bank of Ireland as a […]
Malawi Savings Bank (MSB) and FDH Bank will unite, resulting in 250 job cuts and a major core system upgrade. Sobhuza Ngwenya, group head of marketing at FDH, says that the core business strategy of the merged entity “towards achieving the top bank status” will be technology-driven. However, no branches are expected to close. FDH […]
Biometric security in the financial services sector has finally reached the tipping point many have been anticipating since Apple launched its fingerprint recognition technology one whole iPhone generation ago. We recently saw the first of the major banks to announce that both fingerprint and voice recognition technology will be viable account login options for millions […]
National Bank Holdings (NBH), a US-based holding company of a group of local community banks, has gone through a major technology overhaul with FIS. The group, which comprises three banks, has implemented FIS’s core banking system, IBS, online and mobile banking applications and a cheque imaging system, Check Image. In its latest quarterly results, NBH […]
US-based Fidelity Bank will move its latest acquisition, American Enterprise Bank of Florida, onto its core banking system, Fiserv’s DNA, from FIS’s Horizon. American Enterprise Bank added $209 million in assets, $147 million in loans and $182 million in deposits to Fidelity Bank. It also brought two branches in Florida. The bank’s Horizon core banking […]
Lloyds Banking Group is to cut 625 jobs – as it continues another wave of its 9,000 job reductions announced a few years ago. Lloyds says there will be a net reduction of 430 roles once the 195 new jobs it will be creating are taken into account. News of the planned redundancies was greeted […]
Masthaven Finance, a UK-based specialist mortgage lender, has joined the “challenger banks” rush and secured a banking licence. It plans to open for business this summer. The new bank will offer mortgages and savings products to retail customers who struggle to get service from mainstream banks and lenders. These products will include specialist mortgages and […]
US-based software vendor, Corelation, has onboarded 50 credit unions for its flagship Keystone core system. Keystone is a much newer system than most of its rivals, having hit the market just seven years ago. Corelation has also recently moved to a new head office in San Diego, California, to an office space four times bigger […]
Cyber attacks against the banking industry have soared in the last few years. And financial institutions now face 300% more attacks than any other industry. Comparatively with other industries, the financial services industry isn’t shy where it comes to cyber security investment and generally has a superior level of protection. But this attracts a more […]
Asia Green Development (AGD) Bank, one of the first commercially owned banks in Myanmar, is automating its ops with Infosys’ Finacle core banking system. This is Infosys’ first core banking system client in Myanmar. The system will support all main operations of the bank, front-to-back office, including online and mobile banking. Finacle will oust a […]
Bermuda Commercial Bank (BCB) has gone live with Temenos’ T24 core banking system (R13). The bank has also implemented Temenos’ business intelligence and analytics tool, Insight, and an AML solution. Sofgen, a Switzerland-based specialist IT consultancy and integration firm (now part of Tech Mahindra), carried out the implementation. The project was 18 months in the […]
Blockchain is a revolution in reconciliation but not in payments, is one of the messages coming out of the Swift Business Forum London 2016. For the sixth edition of the show, more than 1,300 delegates were rammed and jammed into Tobacco Dock, London. This morning’s (20 April) sessions were dominated by warm-up speeches that praised […]
Payments UK’s new service – Standards Collaboration Framework – offers institutions support in the implementation of industry standards. The first taker has already been onboarded. This is Faster Payments Scheme Limited (FPSL). Payments UK says the customer “will use the central, well-maintained ‘library’ to simplify how its industry stakeholders access and receive notifications about updated […]
ISO 20022 Registration Management Group, the senior global registration body, has approved the ISO 20022 message guidelines – they have now been published. The new guidelines were developed by the ISO Real-Time Payments Group (RTPG) and facilitated by Payments UK, the representative of the country’s payments industry. Payments UK describes this development as “an important […]
US-based banking software vendor, Jack Henry & Associates, is shedding its deposit automation business, Goldleaf Enterprise Payments (formerly Alogent Corporation). The buyer is Battery Ventures, a US/Israeli venture capital and private equity firm. The company is regaining is former name – Alogent. Alogent’s back office software focuses on electronically capturing, processing and analysing cheque data […]
Here are ten facts you (possibly) did not know about mobile banking. But now you do, with the help of this nifty infographics, courtesy of Shinobicontrols.
Distributed ledger specialist Digital Asset Holdings has acquired a small Swiss start-up, Elevence Digital Finance. Elevence’s niche is a modelling language for determining rights and obligations in blockchain collaboration agreements. Its takeover provides Digital Asset with a new, verifiable way for parties involved in a transaction to independently prove updates to a distributed ledger while […]
The new e-learning platform will administrate, document, track, report and deliver a broad catalogue of digital courses and social learning. It is an interactive, cloud-based service. To start with, SwiftSmart will support a subset of Swift’s existing training portfolio, which consists of 100+ courses. The full portfolio will be available by 2017. The initiative is […]
UK-based specialist financing company, Private & Commercial Finance Group (PCFG), has concluded its software selection, Banking Technology understands. The company applied for a banking licence in 2013/14 and was known to be in system selection mode in mid-2014. The selection process was run by consultancy firm Sofgen. Banking Technology understands that it has now finalised […]
As I waited today for the barista to fill my coffee order I picked up the local newspaper; jumping right off the page was the headline, “9 Businesses that are still cash only”! (This was a reference to an article by Laura Woods on the Go Banking Rates website on 2 April 2016.) Of course, […]
The new partnership between private banking software vendor ERI and tech consultancy firm Capgemini will see the launch of a shared services centre for private banks and wealth managers in Europe. ERI will provide its flagship core banking system, Olympic, whilst Capgemini will bring to the table its expertise in infrastructure and application management services […]
Doing more with less is an important goal for any business. In the world of banking, an increasingly complex market is driving firms to uncover new ways to deliver cost efficiencies, writes Peter Gould, associate partner at Orbium. Growing competition from specialist providers continues to disrupt the traditional banking model. These firms are using new […]
Canada’s Scotiabank named key components of its technology and operations strategy at the recent annual meeting of shareholders. These (unsurprisingly) focus on digital transformation, technology investment and the simplification of its organisational and operating models, as the nature of work and roles change. Brian Porter, president and CEO of Scotiabank, said that “a comprehensive change […]
CIMB Group is celebrating the completion of a major core banking project – to unify its regional operation on a single platform, One Platform (1P). The project spans four countries: Malaysia (where the group’s headquarters are based), Indonesia, Singapore and Thailand. Silverlake Axis, Accenture, IDS Scheer and IBM were the main technology partners. Silverlake’s core […]
US-based developer of CRM and BPM software, Pegasystems, has acquired OpenSpan. The acquisition, says Pegasystems, “brings robotics, analytics and case management together to enable more productive employees and better customer experience”. OpenSpan, based in the US state of Georgia, specialises in robotics process automation and workforce analytics software. The company says it is currently running […]
New Zealand’s central bank, Reserve Bank, is implementing Numerix’s Oneview for trade valuation and risk management analytics. The system will support risk pricing and risk analytics, market standard trade valuation, and position and collateral management. “We are improving our technology and analytics capability in our domestic and foreign market operations,” says the bank’s deputy governor, […]
