Lending Club’s chairman and CEO Renaud Laplanche has resigned following an internal review of sales of $22 million in near-prime loans to a single investor, in contravention of the investor’s express instructions. Shares in the US-based company fell by more than 20% today (9 May) as a result of the shock departure. Scott Sanborn will […]
Fiserv has reported adjusted revenue of $1.25 billion in the first quarter of 2016 compared with $1.19 billion in Q1 2015, an increase of 5%. Its financial results reveal nothing specific about the word “profit”, but a Fiserv spokesperson says: “We do disclose our profit in our earning results. We reported adjusted earnings per share […]
Nucleus Software’s net profit after tax decreased in the financial year (FY 2016), from INR 647 million ($9.7 million) in the previous year to INR 325 million ($4.8 million). For the period ending 31 March 2016, revenue dipped from INR 3.48 billion ($52.2 million) compared to INR 3.53 billion ($53.03 million) in FY 2015. Vishnu […]
Intellect Design Arena is still not making a profit and has reported a loss before tax of INR 258.9 million ($3.9 million) for the full year (FY) 2015-16. This is an improvement on last year, when it reported a loss before tax of INR 812.3 million ($12.2 million) for the period ending 31 March 2015. […]
FIS has revealed its first quarter revenue in 2016 increased to $2.2 billion from $1.6 billion in Q1 2015. Organic revenue growth was 4.2% in the quarter. Adjusted EBITDA increased to $637 million in Q1 2016, from $589 million adjusted combined EBITDA in the prior year’s quarter, while the adjusted EBITDA margin was 28.2%. Gary […]
MasterCard’s net income in the first quarter of 2016 was $959 million, a decrease of 6%, or 2% on a currency-neutral basis. On top of this, its earnings per diluted share of $0.86 was down 3%, or up 1% on a currency-neutral basis, versus the year-ago period. The company says this was “as expected” and […]
Banking software vendor Avaloq has reported a “record” financial year in 2015 with a turnover of almost CHF 500 million ($518 million). The Swiss vendor says it has won 11 new customers, and is now working with 450 banks and wealth managers worldwide. New customers include China CITIC Bank International; Crestone, the former wealth management […]
Temenos has revealed IFRS (international financial reporting standards) total software licensing revenue of $38.9 million in Q1 2016; and non-IFRS total software licensing revenue of $39.2 million – up 51% from Q1 2015 on a reported basis and 53% in constant currencies. Temenos CEO David Arnott says this shows financial institutions “continue to embark on […]
Tata Consultancy Services’ (TCS) full year (FY) 2016 revenues and net profit rose – boosted by growth in its banking, financial services and insurance (BFSI) operations. Natarajan Chandrasekaran, CEO and MD, TCS, says its core portfolio “performed strongly in a seasonally weak 4th quarter driven by strong volumes led by growth in BFSI, retail and […]
Financial systems vendor Infosys has revealed its revenue for the full year (FY) 2016 of $9.5 billion, an increase of 9.1% in US dollar terms; and 13.3% in constant currency terms. Q4 revenue was $2.4 billion – a rise of 1.6% quarter on quarter in US dollar terms, or 1.9% in constant currency terms. For […]
Temenos has reported a total software licensing growth of 45% for 2015 on the back of new deals and acquisitions. In its 152-page “Annual Report and Accounts 2015”, the Swiss software vendor also revealed a rise in non-IFRS (International Financial Reporting Standards) revenue of 19.2% – moving from $468.7 million in 2014 to $559 million. […]
Temenos is refinancing its existing banking facilities to the tune of a $500 million new facility. The Swiss software vendor says it has “taken advantage of current market conditions to lock in low-cost long term financing” through a new $500 million banking facility, consisting of a five-year revolving credit facility which expires in 2021. The […]
Payments provider Ingenico Group has reported a revenue of €2.197 billion in its full year (FY) 2015 results – a rise of 14% on a comparable basis. For the period ended 31 December 2015, it says revenue was also up 37% on a reported basis, and adds that the US is now its number one […]
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 […]
