Mfinance concludes integration platform tender
Kenya-based banking tech provider and integrator NLS Banking Solutions has won the bid to supply an integration platform to Madison Finance Company (Mfinance) in Zambia.
Digital
UBS launches SmartWealth digital platform in UK
UBS Wealth Management has launched its new digital platform, SmartWealth, to tap into “a new audience” in the UK. The banks says it’s the first of its kind in the country.
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.
Banking Technology March 2017 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.
Atom Bank goes atomic with £113m funding plan
UK challenger bank Atom plans to raise almost £113 million in equity investment to support its ambitions for growth. As Banking Technology reported late last year, Atom opened for all customers in the UK. Its “invitation only” phase is over and people can download the Atom App, both in IoS and Android, and open an […]
Credit Suisse makes headway in digital space in Asia
Credit Suisse has launched two solutions in the digital space to keep up with consumer expectations: digital client on boarding for private banking and automated account aggregation and reporting.
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!
Bots and biometrics: The Mobile World Congress shows the future of payments
Bots, biometrics and wristbands stood out as examples of payments innovation this week at the annual Mobile World Congress in Barcelona. Judging by the product releases and displays, the future promises to involve more use of fingerprints in payments, and technology that allows quick purchasing from social media, reports Paybefore (Banking Technology‘s sister publication). Payment bots […]
Bots and Biometrics: The Mobile World Congress Shows the Future of Payments
Bots, biometrics and wristbands stood out as examples of payments innovation this week at the annual Mobile World Congress in Barcelona. Judging by the product releases and displays, the future promises to involve more use of fingerprints in payments, and technology that allows quick purchasing from social media.
Silvergate Bank overhauls front-to-back office tech with FIS
California’s Silvergate Bank has implemented a suite of systems from FIS in a major tech overhaul – from a new core banking system to branch, digital and mobile banking, compliance and risk. The new core banking platform – FIS’s Horizon – will let the bank “streamline” its third party systems, such as account opening and […]
Mastercard and Getir power payments bot for Facebook Messenger
Mastercard has teamed with Turkish mobile retail firm Getir to use its bot for the “first” Masterpass payments in Facebook Messenger. Customers search for Getir (think “get here”) in Messenger, chat with the bot in a “natural, conversational way”, and make a payment with Masterpass. Getir says users can receive a ten-minute delivery from its […]
Yellow Brick Road to revamp wealth management ops with Rubik
Australia-based banking tech provider Rubik has signed wealth management company Yellow Brick Road (YBR) for its scaled advice solution, Provisio.
Mastercard and Singapore’s transport authority test contactless cards while eying mobile payments
Mastercard and the Land Transport Authority (LTA) in Singapore have teamed up to launch a pilot programme enabling commuters to pay for transit fares using contactless payment cards through an account-based ticketing (ABT) system.
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.
Mastercard makes global mobile payments go Qkr
Mastercard says it will significantly expand the scope and capabilities of its Qkr with Masterpass mobile payment service. Not only is the technology set to debut in the US and five other countries, but it will now integrate with retail software provider Oracle, reports Banking Technology‘s sister publication Paybefore. At the Mobile World Congress in […]
Bank of Baroda launches fellowship programme to support fintech start-ups
Bank of Baroda, a public sector bank in India, has launched a fellowship programme to support fintech, rural, agricultural and financial inclusion start-ups.
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.
First new clearing bank in 250 years enters UK market, ClearBank
As first reported by Banking Technology, there is a newcomer on the UK challenger bank scene, ClearBank. The bank has now gone on the record about its focus and strategy. ClearBank will be a bank for banks, FIs and fintechs, i.e. a clearing bank, offering customers access to UK payment systems and core banking technology to support current account capabilities.
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 […]
Three US FIs in tech revamps
Credit Union of Southern California, Brazosport Teachers Federal Credit Union and Rosedale Federal Savings & Loan Association are undergoing tech modernisation.
Hiccup for HSBC online banking
HSBC’s online banking went down for several hours today (27 February) – with its business customers particularly affected. The bank tweeted about the issues earlier today. We're experiencing some issues with our online services, we're working to resolve this. Apologies for any inconvenience caused. — HSBC UK (@HSBC_UK) February 27, 2017 Customers trying to access […]
The Monday mindset: 27 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, our editor Tanya Andreasyan and deputy editor Antony Peyton look at what’s happened since they joined in February 2016. Like two Hollywood […]
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 […]
Goldfields Money signs for tech overhaul with Rubik
Australia-based banking tech provider Rubik (soon to be acquired by Temenos) has signed a new client, Goldfields Money. Rubik’s CEO Iain Dunstan says one more new customer will be announced “imminently”.
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.
RBS financial mess seeks digital redress
The Royal Bank of Scotland’s (RBS) poor financial results have led to its CEO calling for more cost reductions and a faster digital transformation. The bank reported an operating loss before tax of £4.08 billion for 2016 and an attributable loss of £6.95 billion, which included litigation and conduct costs of £5.86 billion, restructuring costs […]
Isbank partners with PPRO for cross-border payments
Turkey’s largest bank Isbank is partnering with PPRO Group for cross-border payments in more regions. The deal means the bank can offer e-commerce merchants 13 local alternative payment methods worldwide. Isbank says it can now also extend access to real-time online banking payment methods and e-wallets in more than 25 countries in Europe, Asia and […]
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 […]
Brightstarr shines for Eurobank digital workplace dream
Eurobank, Greece’s third largest bank, has selected Brightstarr’s Unily hub as its digital workplace solution for that famous fintech trinity of innovation, communication and collaboration. Sotiris Sirmakezis, group chief digital and technology officer, says: “Unily’s combination of experience design and Microsoft expertise will help ensure Eurobank provides a great user experience that will ultimately improve […]
Bank of America zooms in on Zelle for mobile banking
Bank of America has chosen the person-to-person (P2P) Zelle service within its mobile banking app as part of its digital drive. Zelle will let clients send, receive and request money, allowing them to use the existing contacts on their mobile device to transfer money to (or request money from) “almost anyone within minutes, regardless of […]
Mogo’s new prepaid product taps into growing Canadian market
Mogo, a Canada-based fintech firm, has launched what it describes as the country’s first prepaid digital spending account managed through a mobile app, reports Banking Technology‘s sister publication Paybefore. The debut of the Mogo Spending Account and the Mogo Platinum Prepaid Visa comes amid robust growth in prepaid transactions in Canada. The full-service GPR card […]
Need for human connection in digital banking
Technology may rule the world, but human connection is still king.
Digital gets a spurt with Natwest and RBS experts
To raise awareness about online and mobile banking and help customers use digital platforms, NatWest and Royal Bank of Scotland (RBS) say they aim to deploy a “TechXpert” at every branch in England, Scotland, and Wales. NatWest is part of the RBS group, and at 1,000 NatWest and 2,000 RBS branches, these experts will help […]
Mahindra Comviva brings its payments to rural India
Mahindra Comviva has launched Payplus Aadhaar Pay, a merchant payment acceptance solution, as it targets the rural areas of India. The Aadhaar infrastructure, created by the Unique Identification Authority of India (UIDAI), onboards customers and provide them with online services. UIDAI collects the biometric and demographic data of residents, stores them in a centralised database, […]
Mogo’s New Prepaid Product Taps into Growing Canadian Market
Mogo, a Canada-based fintech firm, has launched what it describes as the country’s first prepaid digital spending account managed through a mobile app. The debut of the Mogo Spending Account and the Mogo Platinum Prepaid Visa comes amid robust growth in prepaid transactions in Canada.
European Online Transaction Rule Revised after Payments Industry Complaints
After absorbing hundreds of complaints from the payments industry, the European Banking Authority will relax its pending customer authentication rules for online transactions. But given the rise in popularity of online shopping, the new threshold of 30 euros before two-factor authentication is required may not be enough to assuage industry concerns.
Payments round-up: 21 February 2017
One is the loneliest number that you’ll ever do… so three stories in one will do better. Here’s a round-up of key events to save you time. Featuring Macquarie Bank, Apple Pay and more. The European Banking Authority (EBA) has relaxed its planned rules for increasing choice in how consumers pay for services and products […]
Valiant Bank chooses Backbase for digital banking overhaul
Switzerland’s Valiant Bank has selected the Backbase Omnichannel Banking Platform for its banking systems upgrade. The platform will help the bank drive “customer engagement” and “increase manageability across its different channels”. Matthias Häfner, head of digital banking at Valiant, says it chose Backbase “due to its expertise in providing a single omnichannel platform, which will […]
Visa opens new innovation centre in London
Visa has unveiled its latest and largest innovation centre in London, located at its European headquarters in Paddington Basin. The 1,000+ square metre space will let Visa staff work side-by-side with financial institutions, merchants and other partners to develop new payment solutions. Rajesh Agrawal, London’s deputy mayor for business, says “as a successful fintech entrepreneur […]
