Banking


Nomura Bank extends relationship with software provider Simcorp

Luxembourg-based Nomura Bank has singed a “large additional licence agreement” with investment software specialist Simcorp, according to the vendor. The bank went to market looking for a new software provider but concluded that staying with Simcorp would be the best option. The two companies have been working together since 2009. Simcorp’s CEO, Klaus Holse, comments […]

Backbase’s omnichannel platform gains new live site in Kazakhstan

Kazakhstan’s Halyk Bank has launched a new digital banking subsidiary, Altyn-i, underpinned by the Backbase omnichannel solution. Backbase interfaces to Altyn-i’s core banking system, CBS, from Colvir Software Solutions. The new bank aims to offer a full range of financial services. At present, it offers account opening, debit cards and payment services. Consumer loans, mortgages […]

Xceed and Reach Credit Unions to unite on Fiserv’s DNA core platform

California-based credit union, Xceed Financial, is merging with fellow Reach Federal Credit Union. The two entities will use Fiserv’s DNA core processing system as their centralised platform. It will be provided on a hosted basis. Xceed is already on the DNA platform, but has been using it in an in-house environment rather than outsourced. Reach […]

Top fintech stories this week – 15 April 2016

Catch up on Banking Technology’s top five fintech stories of the week – all in one place! EPC launches public consultation on SEPA instant payments scheme You’ve got until 10th July to submit your views. What do corporates want from their banks? Simplicity, standardisaion and automation. New core banking system selection in the Netherlands Amsterdam Trade […]

RBS to cut 600 jobs in UK

Royal Bank of Scotland (RBS) is cutting almost 600 jobs in its UK retail bank. British and Irish trade union Unite has reacted to the news. RBS will axe about 200 positions across London and the south east of England, with 400 jobs to go in the Midlands, east and the north of the country, […]

Will regulation be a blessing or a blow for Bitcoin?

The European Commission (EC) wants to update the fourth Anti-Money Laundering directive so that it also covers virtual currencies, such as Bitcoin. In the UK, the Treasury has followed suit by announcing plans to subject virtual currency exchanges to the same regulations as banks. This isn’t surprising. Gunnar Nordseth, CEO and co-founder of Signicat, muses over the possible […]

Infographics: Video banking – it’s on

Video banking has finally reached inflection point, according to Efma and Vidyo Inc. The two companies have carried out the research, “which uncovered massive support for video banking among financial organisations worldwide”. Nearly 80% of all banks surveyed plan to offer video-enabled banking services. Check out this nifty infographics (courtesy of Efma and Vidyo) on all […]

Building consumer trust – a major challenge for newcomer banks

The challengers aiming to take on the traditional high street banks are themselves facing an enormous obstacle if they are to disrupt the banking market significantly, observes Zehra Chudry, organiser of the “Challengers versus Legacy Banks” debate at PayExpo Europe 2016. This hurdle is building consumer trust. Not only must they offer powerfully attractive alternatives and improvements, they must also convince consumers […]

Volante Technologies makes inroads into Turkey via tie-up with Payfessional

Financial messaging and payment specialist Volante Technologies has inked a partnership agreement with Payfessional, a Turkey-based IT firm. The tie-up will see Payfessional offering Volante’s VolPay suite of payment integration and processing solutions to the Turkish banking market. Payfessional, which focuses on e-payment processing solutions for the financial services industry, will also market the solution […]

Bigbank overhauls credit processing with Provenir

Estonia-based Bigbank is modernising its credit decisioning and loan origination processes with Provenir. Provenir’s cloud-based solution will reduce time to market, improve efficiency and customer centricity at the bank, says the vendor. Agur Jõgi, chief technology officer at Bigbank, comments that investment in technology will help the bank to achieve the goals of “delighting customers” […]

Allied Irish Banks to modernise payments software with Dovetail

Allied Irish Banks (AIB) is set to modernise its payments platform. The bank has recently concluded a system selection to that effect. The new supplier is Dovetail, Banking Technology understands. The new payments hub will support high-value, low-volume payments as well as high-volume, low-value ones. Dovetail’s solution will replace the Global PayPlus (GPP) legacy platform […]

New core banking system selection in the Netherlands

Amsterdam Trade Bank (ATB), a European subsidiary of Russia’s Alfa Group, is looking for a new core banking system, Banking Technology understands. The bank is a long-standing user of Misys’ software, including Equation for core processing, Trade Innovation (TI) for trade finance, and Opics for treasury and capital markets. In 2010, Misys announced ATB’s successful […]

Earthport and Ria Money Transfer join forces for remittances

Earthport, a UK-based cross-border payment network, and Ria Money Transfer, the world’s third largest money transfer company, have teamed up. Earthport will provide Ria with access to a global payment network. “Through a single, managed relationship with Earthport, Ria will gain access to over 60 domestic clearing schemes,” Earthport states. The solution “enables complete transparency”, […]

Monex implements new processing solution from Broadridge

Monex, one of Japan’s largest online trading brokers, is deploying a new platform for its domestic equity and investment trust processing business. The supplier is Broadridge Financial Solutions. Broadridge’s offering is JASDEC (Japan Securities Depository Centre, Inc) Processing Solution. Oki Matsumoto, CEO of Monex, says the new platform “will enable us to further improve our […]

M&A in investment management tech space: Linedata acquires Derivation

France-based Linedata has taken over fellow investment management software provider, Derivation. Derivation specialises in risk, analytics, and portfolio management solutions to institutional and hedge fund managers. It is based in the UK, employs 20 people and its pro-forma revenue for 2015 is £2 million (€2.5 million). The acquisition has now been completed. Derivation’s products will […]

Insights EMEA: what corporates want from their banks

The recent D+H conference in London has provided a platform to corporates to share their experiences of dealing with banks, vent their frustration, highlight the improvements and discuss the latest developments and the way forward. Unsurprisingly, the main themes were standardisation, automation and the reduction of complexity. The panellists – representatives of Hilton Worldwide, Ingersoll […]

Top fintech stories this week – 8 April

Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Money 20/20 Europe: Biometric identity, SMEs and final day’s sessions round-up Key highlights, what went well and what could be improved. Money 20/20 Europe: KYC/ID, commerce disruption and femtech round-up Valid points raised, key issues discussed. A must […]

Export Development Bank live on Temenos T24 core banking system

Sudan-based Export Development Bank (EDB) has gone live with its new core banking system, Temenos’ T24. The Islamic bank implemented R13 of T24 and has also got Temenos’ Insight Financials tool. The project was initiated three years ago, with the contract signing in Q1 2013. National Data Consultants (NDC), a regional implementation partner of Temenos, […]

Insights EMEA conference: corporate banks and their pains

At the D+H customer event in London, Insights EMEA, there has been a lot of talk about innovation, blockchain (of course) and where corporate payments are heading. Whilst D+H and its Global Transaction Banking Solution (GTBS, formerly Fundtech) unit are, understandably, promising their clients better solutions – so we won’t dwell on that – it […]

It’s time for payments infrastructures to change

There’s no doubt about it, fintech is a force to be reckoned with, and the UK has positioned itself convincingly as the global capital. Speaking at an event only last month, Economic Secretary, Harriett Baldwin, commented on how fintech is “helping normal people in their daily lives” by giving them extra choices when it comes […]

Fintechs, prepare for a wave of M&A

The financial services ecosystem is experiencing dramatic change, driven on the one hand by disruptive fintech models that are causing disintermediation of the financial incumbents, and on the other hand by rapid advances in technology that are disrupting the ancient, creaking core banking platforms. Fintechs, prepare for a wave of M&A, says FirstCapital’s CEO, Jason Purcell, as […]

Platformification: all together now

Platformification – what is it and why do banks need to know about it? Hans Tesselaar, executive director at Banking Industry Architecture Network (BIAN), explores the issue. When alternative fintech players first established themselves in the financial services industry, they raised their profile by collectively bashing the banks – positioning themselves as a more transparent, […]

New system selection for building society in the UK

Cardiff-based Principality Building Society is a step closer to selecting a new core processing system, Banking Technology understands. Principality’s current provider is Unisys Financial Services System (UFSS). It is understood that the building society has considered an upgrade of UFSS but decided against it. It is now evaluating offerings from a number of system suppliers. […]

Consumer payments: the contactless landscape

Nick Kerigan, managing director of future payments at Barclaycard, lends his expert view on the changing consumer payment landscape and maps the journey to contactless card payments and beyond. Kerigan leads the team that looks at payment and competitor intelligence, and is responsible for driving innovation across Barclaycard. Last year was a milestone in UK […]

Western Union launches digital B2B payments platform for SMEs worldwide, WU EDGE

Western Union Business Solutions has unveiled a brand new payments platform for SMEs, WU EDGE. The project has been 18 months in the making and is available to new and existing customers for free. WU EDGE is cloud-based, and is designed to be a single global payments tool for businesses worldwide. It will go live […]

Santander and Kabbage team for SME funding innovation

Santander and Kabbage are piloting an online tool to give UK small and medium sized enterprises (SMEs) access to same day funding. Announced today (4 April) at Money 20/20 in Copenhagen, SMEs can get access to new working capital of between £500 and £100,000 via an online process. At a media briefing, Sigga Sigurdardottir, chief […]

Reference data management: utility is the future

So here is a major headache for the treasury and capital markets industry: the cost line remains dead flat but the revenue line has dropped off the cliff. Utility is the answer to the market woes, strongly believes Philippe Chambadal, CEO of SmartStream Technologies. He talks to Tanya Andreasyan about SmartStream’s initiative in this space. […]

Keeping up in a Faster Payments world

Faster payments is one of the more pervasive topics in almost any global payments conversation. And if you look at key countries like Singapore, the US, and Australia, it may seem to be more than just talking. Additionally, many countries are improving their infrastructure to clear payments in the same day or already have domestic […]

Banking Technology April 2016 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.

New competition or new regulation: which is the bigger challenge for banks?

One of the most talked about issues in retail banking today is the emergence of the new entrant, or “challenger”, bank. “New” banks are being spun off from existing institutions and more than twenty organisations having applied for, or received, a banking licence over the past twelve months or so. Banking is becoming an ever […]

Blockchain: why smart contracts need shrewder people

“I’ve forgotten – woe is me! What the magic word may be.” Johann Wolfgang von Goethe, The Sorcerer’s Apprentice (1797) How smart is your code? So-called “smart contracts” are science fiction realised. Executable pieces of code stored on a mutual distributed ledger for future execution bind people and payments to actions and outcomes. Computer scientist […]

Online banking 2.0 with API

When you think of the new era in banking — let’s call it “Banking 2.0” — what do you see? Is there something revolutionary such as totally virtual branches or no paper money at all? It’s hard to tell how Banking 2.0 will exactly look like, especially with virtual reality (VR) sets going mainstream, but […]

Harrods Bank gets new CIO, but core banking overhaul in question

Will Simon Bateman, the new CIO of London-based Harrods Bank, restart the bank’s long-suffering core banking software overhaul? Bateman moves from another UK-based bank, Aldermore, where he spent around three years, first as transformation and change director and then as head of IT for the savings business line. Aldermore, a small domestic bank focused on […]

KeyCorp and First Niagara merger – software revamp on the cards?

As US-based KeyCorp prepares to take over its rival First Niagara to create the country’s 13th largest bank, Banking Technology muses what this might mean for the fintech market. A major system selection perhaps, as both banks are currently using dated systems? KeyCorp and its banking subsidiary, KeyBank, hope to finish acquiring First Niagara by […]

Virtual account management: time to reap SEPA

Virtual account management (VAM) holds great promise for corporates to centralise and reduce bank accounts. Banking Technology‘s payments expert, Heather McKenzie, explains. One of the promises of the single euro payments area (SEPA) was that it would enable more efficient cash management infrastructures for the euro. In a 2014 study, Economic analysis of SEPA, PWC predicted a […]

Swiss banks and SIX plan national mobile payments platform

Exchange group SIX and Switzerland’s five largest banks are in talks over a joint mobile payments platform for the country. SIX, retail chains Migros and Coop, and telecoms company Swisscom are planning to create a standardised digital payment system for consumers in Switzerland. A joint statement from the banks – UBS, Credit Suisse, Raiffeisen, PostFinance […]

FATCA and CRS survey: how ready are you?

With the new era in global tax reporting, Thomson Reuters is conducting a survey to gauge the level of the industry’s readiness for FATCA and CRS. Evolving global regulations around tax transparency are challenging organisations around the world to implement new procedures. Are you ready? We are calling on you to help us create a […]

Splitska Banka live with Comarch’s SB SmartNet banking system

Croatia’s Splitska Banka has gone live with SB SmartNet, a new internet and mobile banking system provided by Polish IT specialist Comarch. SB SmartNet, based on Comarch’s Smart Finance solution, will give Splitska’s retail customers access to account information as well as a multitude of transactional services. The mobile version is designed for iOS and […]

Infographics: global fintech landscape

Want to see the global fintech landscape summed up in an easy on the eye and effortless to digest infographics? You have come to the right place – this excellent infographics has it all, from the hottest start-ups today and those to watch in 2016 to the most supportive countries and governments as well as top investors. […]