Fidor adds a touch of Nutmeg to banking with Seedrs
Seedrs will be the sole equity finance provider in a new partnership with challenger bank Fidor.
Digital
Financial Resources FCU revamps online mortgage tech with Roostify
Financial Resources Federal Credit Union in the US state of New Jersey has implemented Roostify’s mortgage technology platform.
Interview: Nelson Holzner, AEVI – imagination will take you everywhere
Nelson Holzner, newly appointed CEO of AEVI, talks to Banking Technology about the importance of innovation and simplification, and addressing real-life problems with working solutions. “Do more” is AEVI’s motto.
Wirecard opens European POS to Chinese travellers with Tencent deal
Wirecard and Tencent are working together to give European retailers access to more than 938 million active WeChat and Weixin users by enabling QR code payments at the POS, reports Paybefore (Banking Technology‘s sister publication). The mobile payment solution, WeChat Pay, has more than 600 million active users, which is equivalent to nearly 40% of […]
Volkswagen finance arm invests in AutoGravity
Volkswagen’s finance arm, VW Credit, has agreed to make an equity investment of an undisclosed amount in auto financing platform AutoGravity.
Oman Arab Bank upgrades core banking system with Finastra
Oman Arab Bank (OAB), a long-standing customer of Finastra (formerly Misys), is implementing the Fusionbanking Essence core banking system. It will replace Misys’ Equation platform, in operation at the bank for over three decades.
Indian Domestic Networks Report Positive Growth
The National Payments Corporation of India is reporting positive momentum for transactions across its domestic payment networks for the fiscal first quarter of 2018. Its goal is to hit 11 billion transactions by the end of the fiscal year.
Aktia Bank finally live with Temenos T24 core banking system
Finland-based Aktia Bank has completed “the full-scale implementation” of its new core banking system, Temenos’ T24.
Kiwibank’s SAP core banking system overhaul faces delays and budget increase
New Zealand-based Kiwibank is progressing with its SAP core banking system overhaul but the project is running behind schedule and the costs are on the rise.
Citi Pay lands in US with Masterpass
After launching in 2016 in Singapore, Australia and Mexico, Citi Pay has arrived in the US.
Puzzle no more with BNI Europa’s prompt consumer credit platform
Challenger Banco BNI Europa (BNI) has unveiled “Puzzle”, a digital and real-time credit approval process for the Portuguese market. Don’t be confused by the name, the bank says Puzzle is “simple, and non-bureaucratic”; and it even cites the Lending Club in the US, or Zopa in the UK by way of comparison. Puzzle offers credit […]
Top fintech stories this week – 7 July 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Top five questions about using quantum-safe security in financial transactions
A wide range of technology-driven sectors will be affected by the advent of universal quantum computing many experts say will happen by 2026, but the financial industry has particular reason to be concerned.
Quantum of solace with Atos simulator launch
Prepare for cybersecurity impact! IT services corporation Atos has launched the “world’s first commercially available” machine-system capable of simulating up to 40 quantum bits (Qubits). The simulator, named Atos Quantum Learning Machine (Atos QLM), is powered by an ultra-compact supercomputer and a universal programming language. Its uses naturally extend far beyond fintech, such as for […]
Banking Technology July/August 2017 issue out now
Set sail for fintech! The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
More money misery for Monzo with £6.7m loss
Mobile-only challenger bank Monzo has reported a loss after taxation of £6.7 million in its latest financial results. For the year ended 28 February 2017, the firm’s directors do not recommend a final dividend. In fact, it has got worse compared to the 2016 full year results. There was also no final dividend because the […]
Just in case you need a reason: why participate in Banking Technology Awards?
This year’s Banking Technology Awards are taking place on 13 December in London and there are plenty of reasons why you and your team should be a part of this prestigious event. Besides having a good chance at winning, entering the Awards also allows you to: Make global headlines in the industry if your entry […]
Fintech funding round-up: 4 July 2017
There’s no lacking of backing. Our latest fintech funding round-up features Tide, Instarem and IntellectEU. UK-based mobile banking firm Tide, which launched in January, has raised $14 million in its Series A investment round. The round has been led by specialist fintech investor Anthemis, alongside Creandum, the Scandinavian fund that has backed companies including Spotify […]
Barclays online and mobile banking down again
Barclays Bank has been hit yet again by online and mobile banking glitches. Today (3 July), the bank reported the problem on Twitter saying it’s “aware of an issue with our online banking”. Hi Mark, we’re aware of an issue with our online banking and we’re working as fast as we can to put a […]
Case study: BankMobile – bank of the future NOW
How did BankMobile become the largest digital bank in the US? Luvleen Sidhu, the bank’s co-founder and chief strategy officer, shares the strategy.
Orange puts bank on hold as it struggles to get it right
Orange has put the brakes on its ambitious plans to venture into the world of mobile banking after finding the proposition doesn’t quite meet the standards.
Fintech funding round-up: 30 June 2017
A handy round-up of who’s investing in what in the fintech space. Featuring Revolut, Tango Card and ClauseMatch.
PayPal makes strategic investment in online lender LendUp
Is PayPal’s investment in online lender LendUp a hint that the underbanked may not remain the underserved for long?
Top fintech stories this week – 30 June 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
P2P Is Gaining Steam, but Security Concerns Remain
Consumers prefer to use P2P payments for retail purchases, paying back relatives and friends, and settling bills—but not so much for contributing to group gifts or paying housing costs, according to a new report from NerdWallet. It also found that that while only 35 percent of U.S. consumers use such P2P products as Venmo, PayPal and Square Cash, 63 percent are interested in the payment technology.
Money20/20 Europe: a finale for financial inclusion
For the finale of the final day of Money20/20 Europe, financial inclusion was discussed with resolute optimism for a bright future.
Nets and Sthaler team up for finger-vein enabled payments
London-based biometric tech vendor Sthaler is working with Nordic payments provider Nets to introduce finger-vein enabled payments to the consumer market in Europe.
Association of Banks of Singapore launches PayNow mobile payments service
The Association of Banks of Singapore (ABS) has unveiled a new funds transfer service – PayNow – that requires only a mobile and identity card numbers to enrol.
Alipay comes to Spain with BBVA
BBVA has signed an agreement with Chinese tech giant Ant Financial to enable Chinese tourists to pay in Spanish stores using the Alipay mobile wallet. BBVA is the first Spanish financial institution to be working with Alipay.
InvestCloud brings fintech incubator to London
US-based InvestCloud is going to launch a fintech incubator and accelerator at its European headquarters in Soho, London. Dubbed InvestCloud Innovation Centre, it will enable start-ups and established firms to create wealth management solutions supported by the InvestCloud platform.
Money20/20 Europe: advancing APIs to a happy place
The interest from the fintech community in APIs burns brighter than a thousand suns, but where will this technology and the spirit of open banking take us?
Nominate your projects for Banking Technology Award!
Banking Technology is on the lookout for all the best FinTech projects of the year! Recognising excellence, innovation and the use of IT in banking and financial services, the Banking Technology Awards will be taking place on 13 December in London. Think your achievements deserve a special recognition? Or know projects that do? Nominate today […]
Money20/20 Europe: is banking a dead cat?
What is the future of banking? Is it a giant menu from which customers (individuals and businesses) choose who is to provide what contingent upon well-informed choice and best value. Or is it a model where banks still rule from the centre, providing customers the simplicity of a range of products through a single provider. Putting aside whether or not this highly competitive state is possible, which is the future direction of banking?
Flywire Snags PayPal for Cross-Border Payments
Cross-border payments and receivables specialist Flywire has added PayPal to its platform as a funding option, enabling businesses, students and patients to fund cross-border payments via PayPal accounts. PayPal now is available as a payment method for Flywire users in the U.S., Canada, U.K. and European Union, Flywire said.
Challenger bank Monese goes pan-European with mobile current account
UK-based digital bank Monese has expanded its current account service to 19 countries in Europe, enabling customers to open bank accounts and “bank like a local”, even if they are not a local resident.
R3’s Corda DLT platform tested for euro commercial paper issuance
Blockchain consortium R3 (which now describes itself as an “enterprise software firm”) and four of its member banks have created a prototype solution for issuance of euro commercial paper (ECP) on R3’s Corda distributed ledger technology (DLT) platform.
Mobile-only bank Pepper now live
Israel’s Bank Leumi has launched its new digital banking subsidiary, Pepper.
Money20/20 Europe: let AI negotiate
Are trends eclectic for artificial intelligence (AI)? Perhaps not as the fintech world is getting more imaginative and calling for the machines to negotiate on behalf of less-than-objective humans. At this morning’s (26 June) sessions at Money20/20 in Copenhagen, the themes of AI use cases in financial services and fraud were discussed.
mBank moves into fintech vendor space with new digital banking system
Poland-based mBank has started to license its mobile and online banking system to other financial institutions outside Poland. The first taker is La Banque Postale (LBP) in France. The implementation will be carried out with the help of Accenture, mBank’s “strategic partner”. Alice Holzman, director of digital at LBP and lead of the bank’s New […]
The Monday mindset: 26 June 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, Banking Technology’s editor Tanya Andreasyan looks at one bank that has managed to successfully converge its digital and “brick and mortar” journeys […]
