Fintech innovation could be getting a push as IBM has built and tested its most powerful universal quantum computing processors. IBM says this development opens up a range of possibilities within the fintech world. Namely, solutions to optimisation problems found in supply chains, modelling financial data, and risk analysis; making facets of artificial intelligence (AI) […]
SAP has launched a blockchain platform – “ready-to-use blockchain technology” – in the SAP cloud.
SAP has made a raft of announcements (and promises) at its annual Sapphire conference in Orlando, Florida. Bill McDermott, CEO of SAP, says the company continues to be committed to its “empathy” strategy unveiled last year and the time is now for “the urgency of action”. The vendor has unveiled its new SAP Leonardo platform […]
Australian bank Westpac has gone live with the first stages of its tech overhaul in Australia to move its core processes from its own premises and into the cloud. According to the Australian Financial Review, it “has already moved two core banking processes to the cloud since the end of March, and intends to have […]
How two key technologies – cloud and cognitive – can aid banking transformation.
The technology incubation activities of Japanese conglomerate Softbank show no sign of slowing after it pumped $502 million into UK cloud VR start-up Improbable, reports Telecoms.com (Banking Technology‘s sister publication). Virtual reality is fast becoming more than just a futuristic gimmick, with the likes of Facebook perceiving it as a new frontier of human interaction. […]
As Temenos is now setting its sights on US banks and FIs with assets over $1 billion, smaller community banks using Trinovus’ Trinisys core system need to find new providers. Trinisys will be sunsetted in June next year.
Apple Creek Bank, a $140 million financial institution with six branches in the US state of Ohio, is modernising its technology with Fiserv. The bank will implement the Precision core processing platform, delivered on a hosted basis, plus a host of auxiliary solutions from Fiserv.
Misys has announced the availability of its solutions for German retail banks in the cloud. Diebold Nixdorf will deliver infrastructure services out of its certified data centres in Germany.
Kansas-based CrossFirst Bank has implemented nCino’s Bank Operating System for its commercial loan process. nCino’s cloud-based solution is built on Salesforce.com. The vendor says it combines customer relationship management, loan origination, workflow, enterprise content management, business process management and instant reporting on a single platform. Amy Fauss, chief operating officer at CrossFirst Bank, says nCino’s […]
North East Small Finance Bank (NESFB), the first bank of its kind in the northeast of India, is gearing up for launch in early June. For its technology, it’ll be using an outsourced banking and payments platform provided by FIS.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
UnionBank of the Philippines (UnionBank) has selected IBM Cloud to build, deploy, run and manage new apps for its digital customer base. Through the IBM Bluemix cloud platform and IBM API Connect, UnionBank says it can create, manage, secure and run APIs that the bank has made available internally and run them externally for consumption. […]
New York-based LivePerson has rolled out the “first financial industry hybrid bots in the world” at the Royal Bank of Scotland (RBS), offering a service where humans and bots can team up in one conversation. With RBS continuing with branch closures and job cuts, and seeking a digital redress to a financial mess; the idea […]
It’s been expected for a while, but Verizon’s sale to IBM confirms the giant has officially given up on the cloud.
UK investment service Old Mutual Wealth (OMW) has terminated its £450 million tech revamp contract with International Financial Data Services (IFDS) due to rising costs. OMW says the costs of implementation – which entails platform delivery and outsourcing services – would have been “materially greater than those advised to the market” in October 2016 (see […]
Hamburger Sparkasse (Haspa), Germany’s largest savings bank, is modernising its front-to-back office technology with Finanz Informatik and Diebold Nixdorf.
Temenos is looking to conquer the core banking software markets of China and Japan.
Amazon Web Services (AWS), Google and Microsoft Azure have all reported healthy growth figures, with artificial intelligence (AI) forming the central role in the future of the platforms, reports Telecoms.com (Banking Technology‘s sister publication). Current market leader AWS has demonstrated another quarter of exceptional growth, though it is slowing ever so slightly. Let’s be clear, […]
Jack Henry’s subsidiary Symitar has set a new record with the addition of six new US credit unions to its Episys core processing system in one fiscal year. All of these credit unions have more than $1 billion in assets and Symitar says getting six new relationships in one fiscal year breaks its previous record […]
Panama-based Prival Bank is implementing a new core banking system, Temenos’ T24. It will be delivered on the Microsoft Azure cloud. Temenos says Prival Bank is its “first regulated wealth client in the cloud”. Go-live is scheduled for 2018. The contract was signed in late 2015, it is understood. T24 will support lending and deposits […]
Oracle has continued its quest to buy its way into the cloud game with the acquisition of ad tracking company Moat for a reported $850 million.
USAmeriBank (formerly Aliant Bank), a $3.8 billion bank operating in the US states of Alabama and Florida, is building a new payments hub for its domestic and international wire transfers.
IBM has reported a mixed bag of results for the first quarter of 2017, with the strategic imperatives offerings up but overall revenues down 2% to $18.2 billion, reports Telecoms.com (Banking Technology‘s sister publication). While another quarter of decline is nothing new to report for Big Blue, what might be worrying for the team is […]
Two small banks in the US state of Ohio, Southern Hills Community Bank and Ripley Federal Savings Bank, are to merge. The consolidated entity (with the assets of $150 million) will outsource its core processing operations to Connecticut Online Computer Centre (COCC).
The cybersecurity wars of the future will be fought by good artificial intelligence (AI) bots and bad ones, with the rest of us just watching to see who wins.
Financial services provider Aegon is partnering with core banking engine provider Ohpen to develop a new platform for its Dutch services. The platform will be used for the administration and distribution of its savings, pension and investment products. The firms say they are merging their domain knowledge within pensions and technology. Aegon will plug into […]
North Carolina-based North State Bank has gone live with nCino’s Bank Operating System to centralise and automate its commercial loan process. nCino’s cloud-based solution is built on Salesforce.com. The vendor says it combines customer relationship management, loan origination, workflow, enterprise content management, business process management and instant reporting on a single platform. Last month, Valley […]
UBS is selling its risk and performance analytics service, UBS Delta, to StatPro Group, a provider of cloud-based portfolio analysis and asset pricing services for the global asset management industry.
Consorsbank, part of BNP Paribas Germany, has implemented fintech incubator FinLeap’s digital account exchange service, FinReach. Bank users who want to move accounts to Consorsbank can do so in “a matter of minutes” and it is all done completely online. Customers will be shown all the credit transferees – and can choose who is to […]
Valley National Bank, a $23 billion financial institution in New Jersey, is implementing nCino’s Bank Operating System for commercial lending.
Axion Swiss Bank has fully replaced its legacy tech – ERI’s Olympic core banking system – with Avaloq Banking Suite.
Oracle is exploring the feasibility of buying consultancy giant Accenture, and has hired specialists to that effect, it is understood.
Wisconsin-based mutual savings bank PyraMax has chosen Fiserv to modernise its retail banking operations. The bank will move to the DNA account processing platform and add integrated mobile, online and branch banking solutions, including palm-vein biometric authentication. The software will be supplied on an outsourced basis, from a Fiserv data centre. Richard Hurd, CEO and president, […]
Barclays has chosen smart document management provider ClauseMatch for handling policies and standards in one place with a new online editor. London-based ClauseMatch, a 2014 graduate of the inaugural Barclays accelerator programme, will provide its editor to the bank. This tool turns a “fragmented workflow” of Word documents, PDFs and e-mails and replaces them with […]
Deutsche Bank has opened an innovation lab in New York, its fourth globally. The lab is part of its five-year plan for €1 billion investment in digital initiatives. It is sited in Lower Manhattan’s Fulton Center and will explore new technologies focused on several areas, including artificial intelligence, cloud technology and cybersecurity. Elly Hardwick, head […]
VA Desert Pacific Federal Credit Union and East Idaho Credit Union have entrusted their core processing operations to Symitar Ease, supplied by Jack Henry’s subsidiary Symitar.
The last couple of months have been relatively quiet for the major cloud players, though it looks like the lurking pricing war is just beginning to heat up, reports telecoms.com (Banking Technology‘s sister publication). Speaking at IBM InterConnect in Las Vegas, the team announced a horde of new offerings, as well as a number of […]
IBM has unveiled its new release of IBM Blockchain, the “first” enterprise-ready blockchain service based on the Linux Foundation’s Hyperledger Fabric version 1.0. The service enables developers to build and host production blockchain networks on the IBM Cloud, and is underpinned by the IBM server LinuxONE. This development follows on from late last year when […]
IBM has unveiled its IBM Cloud for Financial Services for creating finserv apps. Users will get access to APIs, data and content to build and monetise cognitive-enabled apps for fintech firms, banks, wealth management firms and insurance companies. Initially available in beta, developers will also have the ability to build in customer insights, regulatory compliance […]
