Avaloq Sourcing Switzerland, Avaloq’s business process outsourcing (BPO) subsidiary (previously B-Source), has migrated KBL Switzerland to the BPO platform of Banque Internationale à Luxembourg (BIL Suisse). The BPO solution is based on the vendor’s flagship core banking platform, Avaloq Banking Suite, and the migration took five months. BIL Suisse acquired the Swiss subsidiary of KBL […]
UK-based Genesis Investment Management, a long-standing customer of Simcorp, has implemented the vendor’s client communication and reporting solution, Coric. The system has been deployed on an outsourced basis, hosted on the Microsoft Azure cloud. According to Simcorp, the project was completed in four months. As the result, the client reporting efficiency has improved by more than […]
Nationwide Building Society has chosen Tech Mahindra, an Indian IT services company, to provide network and infrastructure services in a five-year partnership agreement. The building society’s ambition is to connect its UK retail operations, comprising around 700 branches to more than 15 million customers. It also plans new services in its branches, such as Nationwide […]
Swift’s Innotribe Start-up Challenge is to be unveiled in Latin America. The best fintech start-ups will be able to showcase their products at the Swift’s Latin American Regional Conference (LARC) this summer. Get your applications in! This is the first time the Swift innovation arm – Innotribe – has partnered with LARC, which will take […]
Veridian Credit Union, a $2.95 billion credit union in Iowa, is implementing Alkami Technology’s ORB platform for digital channels. The new solution will replace a legacy set-up, which includes a mobile banking offering from another US provider, Clairmail (now part of Monitise). Clairmail was selected by Veridian back in 2009. In 2012, the vendor was […]
Broadridge Financial Solutions has taken a minority stake and entered into an exclusive distribution and marketing alliance with Netherlands-based management consulting firm AMA Partners. AMA provides DirectorInsight, a platform offering data and analytical tools for the evaluation of corporate governance and executive compensation. Broadridge says the deal expands its data capabilities for corporations and institutional […]
Barclays and BlackBerry are bringing BBM, the mobile instant messaging service, to Pingit money transfers in the UK. BBM users can now make mobile payments to each other using Barclays’ mobile payment app Pingit. Matthew Talbot, SVP, BBM at BlackBerry, says to “exchange money was a logical extension” of BBM’s functions. Once a user has […]
HSBC is launching voice recognition and touch security services in the UK, which will be available to 15 million banking customers. Customers of First Direct, a division of HSBC, will be offered the biometric recognition system over the next few weeks, followed by HSBC’s in the summer. HSBC is not the first to do this […]
Dallas Capital Bank, a local, independent bank is adding mobile banking, digital banking and electronic payments to its customer service functions. The firm has begun integrating its bank’s new digital services with its existing FIS backend core and payments systems. It is also adding a suite of digital banking systems, from digital account origination to […]
Commerzbank has reported a quadrupling of profits on the back of digital growth, as European banks are balancing their investment in digital services with cost cutting initiatives. Stephan Engels, chief financial officer at Commerzbank, said that adoption of digital technology is proving invaluable in an earnings call with analysts on 12 February. He observed, “Due to […]
Banking Technology is delighted to announce the appointment of Tanya Andreasyan as Editor and Antony Peyton as Deputy Editor. Andreasyan brings a wealth of experience to the role having been working in the banking/financial services technology industry for ten years. She had previously worked at IBS Intelligence, a UK-based publishing house and analyst/consultancy firm focused on […]
Temenos’ earnings have risen by 23% for the full year (FY) 2015 on the back of 52% growth in total software licensing. Along with FY 2015, the vendor reported good results for the fourth quarter of 2015 – its IFRS (International Financial Reporting Standards) revenue was $168.4 million, up from $133.1 million in Q4 2014. […]
Goldman Sachs has launched a new FICC Systematic Market Making (SMM) unit. SMM will consolidate its e-trading assets and capabilities across FICC. The move was reported in an internal memo as reflecting changes in market structure and client needs. The memo, signed by several executives including group chief information officer Martin Chavez, says, “Our ability to […]
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
Markit has acquired systems integration software developed by JP Morgan. The provider of financial information services will make the software available to buy- and sell-side institutions seeking to integrate with major systems used in the syndicated loan market, including agent servicing platforms and Markit’s trade settlement services. Facilitating systems integration is an important step toward […]
Two online lending platforms – Spotcap and Credibly – have separately raised a total of £71.8 million in capital facilities, lending support to the sector’s prospects in the eyes of investors. Berlin-based, online lending platform Spotcap has raised €31.5 million (£23.8 million) in new funding led by international private equity firm, Finstar Financial Group, with participation from […]
Malaysia headquartered RHB Investment Bank (RHB) has implemented Fidessa as its trading platform across Asia. The system, managed by Fidessa throughout the region, provides algorithmic trading across all member markets, ‘intelligent’ indications of interest (IOIs) and a centralised order management system (OMS) with integrated middle-office to support RHB’s regional business. The ability to on-board a […]
Britain’s payment settlement system for the pound sterling is to be redesigned and rebuilt, Minouche Shafik, deputy governor for Markets & Banking at the Bank of England (BoE) has said in a speech given at the BoE to senior figure in the UK payments business. The twenty-year old Real-Time Gross Settlement System (RTGS), which settles […]
Americana Community Bank (ACB) is working with RAI Stone Group, the provider of the RAI Stone Analytics platform to supports its small-to-medium business (SMB) teams, which focus on organisations employing between one and 100 people. “Using this service is adding significant, measurable return-on-investment (ROI) that might have happened over time, sure. But we didn’t see […]
Cognitive computing specialist CustomerMatrix, a co-founder of forum Cognitive Computing Consortium, has closed US$10.5 million in Series-B funding. The investment, one in a series of investments in artificial intelligence-like technologies in 2016, was led by HSBC, with participation from Aster Capital, and existing investors Newfund and True Global Ventures. CustomerMatrix, which offers a predictive engine called […]
A total of 45 banks including Barclays, Citi, Deutsche Bank and many others have signed up to a new payments innovation initiative headed by Swift, which is due to launch early next year. Announced in December, the initiative aims to dramatically improve the customer experience in correspondent banking by increasing the speed, transparency and predictability of cross-border payments.
Bank of America Merrill Lynch has launched an automated US dollar cross-border cash pooling services for corporations operating in the Shanghai Free Trade Zone. ZF TRW, a division of ZF Friedrichshafen, manufacturers of automobile safety systems, has implemented the working capital solution and is serving as the pilot client.
Six out of 10 chief financial officers from mid-market and large corporate firms in the UK say they would like to see the same flexible payments technology in their business’ finances as they enjoy in their personal finances, according to a survey by HSBC.
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
If the global payments industry were to be designed from scratch, nobody would design the system which we have today. Yet distributed ledger technology has the potential to bring about dramatic change– if it can overcome the unanswered questions over to what extent the industry should collaborate or compete and whether there will be one model or many different ones, according to speakers and delegates at the European Payments Regulation conference in London on Wednesday.
RBS has awarded a contract to Hewlett Packard Enterprise for the implementation of a new image-based cheque clearing service in response to UK regulatory changes that require all cheques to be processed digitally by 2017, under HM Treasury’s Future Clearing Model.
Despite predictions over the last few years that banks were just a heartbeat away from adopting cloud technology, only 1% of banks are actually running core processing in the cloud today, according to a new report by Temenos.
Santander has launched a competition to support startups using distributed ledger technology in financial services. Through its subsidiary InnoVentures, the bank hopes to promote distributed ledger tools that could improve banking processes.
Standard Chartered is to invest $3 billion in “strategic opportunities” and its technology infrastructure as part of a wholesale reorganisation of the bank in the wake of a $139 million third-quarter loss. The restructuring will see 15,000 jobs – 17% of its workforce – go over the next three years.
Deutsche Bank is to shed 9,000 full-time staff and 6,000 external contractor jobs in its global technology and operations infrastructure as it sets out to “modernise its outdated and fragmented IT architecture” and improve control systems.
Cashfac Technologies, a specialist market leader in bank-to-corporate cash management solutions has launched Cashfac Analytics, a real-time data analysis and reporting module that enables banks and corporates to better understand their cash movements.
Banks should not kid themselves that they can simply appoint a ‘chief innovation officer’ and that will be enough to combat the threat posed by new technologies and the non-bank companies that are using them to steal business, warned panellists at the BBA conference in London on Thursday.
SIBOS Interview: Christian Westerhaus, Deutsche Bank
Hasty unilateral moves by individual countries could undermine the ability of financial institutions and markets to benefit from new regulations and weaken efforts to improve financial stability, delegates at the BBA conference in London heard yesterday.
Banks in the UK are increasingly shifting jobs away from London, with the result that while the overall number of banking jobs fell 0.5% between 2013-14, 77 local authorities in the UK saw the number of banking jobs grow faster than in London.
Erik Zingmark, Deputy Head of Transaction Products, and Head of Cash Management, Nordea
SIBOS Interview: Benoit Desserre, Global Head, Payments and Cash Management, Societe Generale
Erik Zingmark, Deputy Head of Transaction Products, and Head of Cash Management, Nordea
Bruno Prigent , Head of Securities Services and Mathieu Maurier, Global Head, Sales Management at Societe Generale
The London Stock Exchange Group is planning to launch a new interest rate derivatives venture called CurveGlobal, which initially aims to offer short term interest rate futures. Backed by several banks including Bank of America Merrill Lynch, Barclays, Citi, Goldman Sachs, JP Morgan and Société Générale, the new venture is part of the exchange’s long-held ambition to gain traction in the derivatives markets, which have historically been dominated by rivals in continental Europe.
