Mobile payments firm Rambus has teamed up with Eftpos, the Australian domestic debit network, to help support transactions with Apple Pay for users in Australia. Through integration with Rambus’ token service provider (TSP) technology, the firm says Eftpos is able to support Apple Pay. Chakib Bouda, CTO of the Rambus Payments Division, says: “This partnership […]
Sberbank and Swift have signed a memorandum of co-operation regarding the development and piloting of products created and promoted by Swift. With fintech hugs sweeping Sibos and the planet, the parties agreed to co-ordinate steps to assess the potential application of blockchain in interbank settlement platforms. In particular, Sberbank joined the international group of financial […]
JP Morgan, and Royal Bank of Canada (RBC) and Australia and New Zealand Banking Group (ANZ), have launched the Interbank Information Network (IIN) – using blockchain for the payments process. According to JP Morgan, processing global payments is very complex. Multiple layers of communication occur amongst payment participants to verify and process transactions. By using […]
Ensuring security on Swift’s network doesn’t have to be rocket science. Getting the basics right will help individual institutions and Swift’s community.
With new banking reform on the horizon, Amit Dua, president of Suntec Business Solutions, assesses why customers will improve their financial and life circumstances if heritage banks and young fintech firms find a way to combine their strengths.
The Liquidity Alliance group of central securities depositories (CSDs) has called for further participants in their distributed ledger technology (DLT)-based LA Ledger prototype for cross-border mobilisation of security collateral.
A variety of Spanish banking, energy and telecommunications companies have established Alastria, the “world’s first regulated national network based on blockchain”. The non-profit consortium will develop distributed ledger technology (DLT), which it believes is “set to become the new data exchange ecosystem”. As reported in May, the group created Red Lyra, the “first multisector technology […]
Pelican, a provider of artificial intelligence (AI) powered payments and financial crime compliance solutions for banks and corporates, has launched its Pelican Innovation Hub. The hub is not one in the traditional sense – i.e. a place for start-ups to turn up wearing jeans and get all creative. Pelican’s version is a partnership model as […]
IBM and eight banks have unveiled we.trade – the new name for their Digital Trade Chain shared platform using distributed ledger technology (DLT) for domestic and cross-border commerce. Since January 2017, a group of seven banks (Deutsche Bank, HSBC, KBC, Natixis, Rabobank, Societe Generale and UniCredit), together with IBM, have been developing the Digital Trade […]
In today’s (17 October) session at Sibos, API in financial services: the key to the future?, the discussion panel participants were in agreement on the following: if your want your API strategy to work, you’ve got to have a holistic approach to it across the organisation.
Broadridge Financial Solutions, Natixis and Société Générale say they have “successfully completed” a pilot project that leverages blockchain technology for bilateral repurchase, or repo, agreements.
The Bill & Melinda Gates Foundation has launched a new service created with in partnership with Dwolla, along with collaboration with Ripple, Crosslake Technologies, ModusBox, and Software Group.
BNP Paribas ALM Treasury and EY have completed a pilot demonstrating the use of blockchain to improve global internal treasury operations for the bank. The ALM Treasury department, which manages the bank’s internal ops, at the service of all three operating divisions of the group, carried out the pilot, tested internally this summer. According to […]
The question of whether – and in what form – banks will survive in the future depends largely on how the forces of changing customer behaviour, technology and regulation will play out on different types of banks.
Discussing the strategies banks can adopt to choose the right innovation partners.
We live in impatient times – everyone wants to be able to pay who they want when they want, instantly and regardless of location. The UK has had instant payments since 2008; Faster Payments volumes have exceeded all predictions and now exceed 135 million per month.
FIS and Citi Treasury and Trade Solutions are working together to enable real-time payments and cash management for their corporate treasury customers. Using the CitiConnect application programming interfaces (APIs), FIS has connected its Trax corporate payments factory to the suite of Citi Treasury and Trade Solutions – enabling integration with Citi’s core treasury management functionality, […]
Welcome to Sibos 2017 in Toronto – bringing together 8,000+ delegates from 150 countries. And this year we have a new (or the vintage new?) theme: data. Not the “big data” though (that everyone was talking about a few Sibos conferences ago), but just data.
IBM has teamed with Toronto-based firm Dream Payments – bringing its cloud and security capabilities to help the firm offer mobile point of sale solutions and business-to-business (B2B) payments.
Instant payments are set to be one of this year’s hot topics at Sibos. Last week, Swift and EBA Clearing announced that users of EBA’s instant payments system, RT1, will be able to access the platform via SwiftNet Instant, Swift’s instant payments messaging solution, from November 2018. Elsewhere, Australian consumers have been told they will be able to make instant payments from January next year.
IBM, KlickEx Group, a regional financial services company, and Stellar, a non-profit organisation that supports an open source blockchain network, have unveiled a new regional cross-border payments solution using IBM’s blockchain technology to provide clearing and settlement of trades on a single network in real time.
Data aggregation and insights company Finicity has integrated with risk mitigation firm DataVerify to offer mortgage lenders real-time borrower asset verification.
Microsoft and Amazon Web Services (AWS) have teamed up to launch an open-source, deep learning library called Gluon which will make machine learning (ML) more accessible to a wider range of developers, reports Telecoms.com (Banking Technology’s sister publication). That will be the key to winning the machine learning race. Not making the most complex and […]
The State Bank of Mauritius, SBM Group and SALT, creator of a blockchain-backed loan platform, have entered into an exploratory relationship to use blockchain assets as collateral for lending services. SALT, which stands for Secured Automated Lending Technology, says it offers risk mitigation software which allows financial entities, like SBM, to participate in this new […]
Colorado-based P2Binvestor (P2Bi), a marketplace lending platform, has unveiled its bank partnership programme to let organisations access capital. Krista Morgan, CEO of P2Binvestor, says it’s “enabling banks to lend to businesses they otherwise wouldn’t be able to due to strict lending standards”. P2Bi’s strategy is to “build a lending relationship with banks at an earlier […]
It turns out, banks can gain a lot from business tools. That’s probably why business solutions company Vasco and financial services software company Finastra teamed up.
Instant payments and real-time authentication checks are coming to business clients of Nordic software provider Emric – courtesy of a new partnership with Trustly.
Innovative technologies are increasingly sparking enhancements to trade processes. BNY Mellon Treasury Services’ Dominic Broom, global head of trade business development, and Joon Kim, head of global trade product, discuss how the industry – with banks at the helm – can drive forward new capabilities and help to support trade growth through digitalisation.
Canada’s La Caisse de dépôt et placement du Québec and Desjardins Group have set up an investment fund dedicated solely to the fintech sector and to artificial intelligence (AI) applied to finance.
With a pair of newly-announced deals, Baker Hill continues to deliver what company president and CEO John M. Deignan calls “the cutting-edge technology and comprehensive analytical intelligence our clients need to compete and win in today’s lending environment”. David Penn at Finovate (Banking Technology‘s sister company) reports that Baker Hill has partnered with Allied Solutions, which will refer […]
Payment services are all the rage this week, here’s a rundown with this week’s round-up. Featuring Paynear, GoSwiff, BBVA, Omnia Pay and Huawei.
Mastercard has partnered with the Andhra Pradesh government in India to bring its digital payments into the Fintech Valley Vizag’s smart city plan. Under the agreement, Mastercard will help Andhra Pradesh in its ambitions to be a cashless society and develop the city concept. Mastercard president and CEO Ajay Banga says it can do this […]
Fujitsu will work with Mizuho Financial Group, Sumitomo Mitsui Financial Group (SMFG) and Mitsubishi UFJ Financial Group (MUFG) to conduct a joint field trial of a person-to-person (P2P) money transfer service using blockchain. The trial will begin in January 2018 and last for about three months. Fujitsu says it has already initiated development of the […]
Earthport, a cross-border payments service provider, has been appointed by Swiss Euro Clearing Bank (SECB), a clearing hub for Swiss banks, to provide Swift processing services.
Identification technology company Tascet is partnering with Secured2 to launch a new data security offering. The product, Algo5, aims to protect data against both internal and external breaches, hacks, and disasters, reports Julie Muhn at Finovate (Banking Technology‘s sister company). The new data storage solution combines Tascet’s SuperToken, which verifies a user’s identity, with Secured2’s Beyond Encryption, […]
Blockchain funding, Pubcoin blockchain rewards programme, network and technology sharing and platform test launching. Our latest blockchain and Bitcoin round-up features Anryze, Leanpub, MicroMoney, Karma and Zilliqa.
UK based insurer Aviva confirms that it’s acquired a majority stake in robo advisor, Wealthify.
Banking software provider Temenos has teamed up with Mulesoft, a platform provider for building application networks. The move is intended to break down barriers to the open banking initiative by facilitating API connections, reports Julie Muhn at Finovate (Banking Technology’s sister publication). As a part of the partnership, Temenos will develop a core banking adaptor […]
This is a moment to celebrate 20 years of independence during which the Bank of England has been a stabilising force for the UK economy, inspiring others in the world of central banking.
The Monetary Authority of Singapore (MAS) and the Bank of Thailand are in discussions about connecting their national digital payment systems as officials step up efforts to curb the use of cash, according to Bloomberg. The link would bring together Southeast Asia’s first national digital payment platforms, Singapore’s PayNow and Thailand’s PromptPay, says Naphongthawat Phothikit, […]
