MasterCard and Berlin-based SolarisBank have teamed up to bolster their digital banking ambitions. SolarisBank has got principal membership status, and will now operate at MasterCard’s “highest issuer level”, with access to its entire product portfolio. Dr. Andreas Spengel, vice-president at MasterCard, says it is “excited by the outlook of working together with a young, visionary […]
Digital banking software vendor Backbase has teamed up with Mitek, a mobile capture and identity verification specialist. Mitek’s OCR and document validation capabilities are now available through the Backbase Open Banking Marketplace.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
“Transaction banking will undergo a change of character,” states the global banking giant.
There’s glee and a spending spree for HSBC as over $100 billion in mobile payments have been made by its corporate customers. The bank says the $100 billion sum was authorised globally through the HSBCnet mobile corporate banking platform since its launch in 2011. The total transaction value of mobile payments has more than doubled […]
Pokémon Go has taken the globe by storm, capturing the hearts and minds of adults and children alike in their endeavours to “catch ‘em all” in the latest version of the popular computer game, which builds cutting edge augmented reality (AR) technology into its original gameplay. What can banks learn from it?
The International Bank of Azerbaijan has partnered with Backbase to implement its omnichannel digital banking platform. With the platform, the bank will be able to provide its products and services to customers through multiple channels synchronously, creating a single multimodal touch point. The contract was signed yesterday onsite at Sibos at Backbone’s booth, between Jouk […]
CLS Group has started building a payment netting service, using existing message protocols and distributed ledger technology (DLT), which will be open to all FX market participants – not just CLS members –and will also enable CLS members to net some FX trades that are currently settled outside the CLS settlement service.
Innotribe’s Industry Challenge – the results of which have been just unveiled – was all about blockchain and disruptive technologies. Three star-ups won the challenge to introduce blockchain to the securities sector: SmartContract, Rise and Coin Sciences.
It’s a fintech double as Equiniti has developed a digital banking platform and launched a mobile biometric authentication and identity lifecycle solution.
In the aftermath of the financial crisis, transaction banking was considered a reliable source of income for global banking groups. But nearly a decade on, multiple factors are putting pressure on transaction banks’ revenues. This year’s World Payments Report suggests banks increase their investments in digital solutions to offer more compelling propositions to their corporate treasury clients.
Canada is one of many countries around the world striving to make payments fast, frictionless and data rich. The country’s approach to payments system modernisation is rooted in collaboration and research, with an eye to the international experience and a deep dive into the needs and capabilities of the Canadian market, including an investigation into blockchain and cryptocurrencies.
ACI Worldwide and Vocalink have joined forces “to offer a complete end-to-end immediate payments solution to launch a domestic or regional immediate payments network”. The partnership will combine Vocalink’s Immediate Payments System (IPS) offering for central payment infrastructures and ACI’s UP Immediate Payments solution for banks and financial institutions.
Udayan Goyal’s vision for the future of money revolves around seamless, instant micropayments being made continuously between autonomous apps and services all triggered by thoughts and actions of humans as they go about their daily lives.
Digital innovation has the potential to radically transform the payments arena, through solutions that enhance end-to-end speed, efficiency, transparency, security and cost effectiveness. Anthony Brady, global head of business strategy and market solutions, treasury services at BNY Mellon, discusses how banks are being spurred to drive forward new technology initiatives – with collaboration at their core – to deliver an enriched global real-time payments experience to clients.
Start-up Form3 Financial Cloud will offer payment and core banking solutions through a Software-as-a-Service (SaaS) delivery model. These are the Dovetail payments system and a new core banking system recently launched by Thought Machine.
The tectonic plates of the banking sector are shifting faster than ever. High street banks are under stress from the massive competitive threats generated by their leaner, technology-driven fintech rivals and challenger banks. These fintech companies are finding success simply by being more efficient or by taking advantage of emerging and highly effective technologies such […]
Apple Pay, Google Wallet, voice payment, payment in messaging apps, Bitcoin, merchant-led solutions, bank-owned solutions. Payment options — driven by a whirlwind of new technology and shifting consumer preferences — are changing. And banking executives are faced with sorting out if and how to respond with a mobile payment strategy that aligns to their banks […]
National Australia Bank (NAB) says it has successfully transferred AU$10 ($7.6) – using Ripple’s blockchain tech – from Australia to Canada. It took ten seconds to process.
We are pleased to unveil our Readers’ Choice Awards shortlist, as voted by our broad international audience of bankers and financial services professionals.
The technology era has come with its new aesthetic, economic models and philosophy about the meaning of value. It is not going away. And the people who thought economics was theirs to define and aesthetic and values were “hobbies” have a lot of catching up to do. That catching up is your hottest technology trend of 2017.
Following the launch of Misys’ applications in the cloud – FinCloud – earlier this year, the banking software vendor has unveiled its new Platform-as-a-Service (PaaS) strategy, FusionFabric.cloud. It will be commercially available next year.
A new open ecosystem – where banks can enable third parties to develop mobile banking apps and cash management solutions for them – has many advantages over the previous closed world, where everybody tried to do everything themselves. The key to successful “opening up” is to provide a standard interface, such as a smart phone to a bank account, that is accessible to third parties whilst retaining the necessary control.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Online search is a vital source of traffic generating around 14% of traffic to global banking sites, according to digital market intelligence agency SimilarWeb. So what are the most searched keywords in the global online banking industry and who is winning this important traffic?
Finovate – now ten years old (or young) – has celebrated its anniversary with over 1,600 attendees at its New York show. Banking Technology was a media partner, and FinTech Futures Series, Banking Technology’s sister company, took part in the event.
While it sounds like something for which you’d need to visit a doctor, Swift’s HVPS+ will likely be a talking point during the payments industry panels at this month’s Sibos. Announced in mid-August, the high-value payments system task force is an important component of Swift’s ISO 20022 harmonisation initiative. A number of central banks, market infrastructures and banks from around the world are members of the task force.
“Give me a solid foundation to stand on, and I will move the Earth.” I am still looking for cement trucks that are pouring foundations – virtual or otherwise – for the new normal of banking, but I can’t find them. Bankers are really confused as to how to succeed in their own business. But like Johnny Lee, I might have been lookin’ in all the wrong places.
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
Following a joint project with O2 to create Germany’s first mobile-only, full-service bank account, GFT Technologies and Fidor have entered a broader “strategic innovation partnership”. The focus is on developing mobile financial and banking apps, and marketing/selling Fidor’s proprietary technology, Fidor Operating Systems (fOS).
Facebook has announced its Messenger bots can now accept payments natively, without redirecting users to external sites. The announcement was made by David Marcus, head of Facebook Messenger, at the TechCrunch Disrupt conference in San Francisco, as he unveiled the launch of the Messenger platform v1.2.
UnifyID, a California-based fintech start-up, has brought to market its flagship identity and authentication platform. The proposition is “holistic implicit authentication”, i.e. it leverages the individual’s uniqueness to identify and authenticate the person by combining a number of biometric authentication features, analysing the patterns and utilising the machine learning technology.
Digital banking software specialist Backbase has launched a new customer onboarding solution, which promises a complete “streamlined, omnichannel onboarding process” in just 60 seconds.
Banks and fintech companies need to collaborate to succeed, argue Saxo Bank’s global COO, Søren Kyhl, and Stig Tørnes, head of business management. And that requires a change of mindset on both sides, the sooner the better. Fintech has become the buzzword for a diverse group of companies whose ambition is to bring efficiency to financial […]
Fintech start-up Clinc says it has created “the world’s first” open source platform for building artificial intelligence (AI) and deep learning-based personal assistants. Clinc calls it “the financial genie” or “Finie”. It is pitched to banks, financial institutions and personal finance managers. The solution was developed by a group of professors at the University of Michigan, […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Barclays and Wave pioneer blockchain trade finance transaction What is a fintech day without blockchain? UK challenger banks: who’s who The list has been updated. US credit union consortium plots blockchain use Watch out R3. Smile and an […]
Our rejuvenated Banking Technology Awards have received an unprecedented amount of entries this year – from banks, financial institutions, fintech firms and individuals worldwide – and we are happy to reveal the shortlisted candidates. Now in their 17th year, Banking Technology Awards recognise and reward excellence and innovation in the use of IT in financial […]
HSBC business customers can now open accounts using “selfie” verification, giving them the option to complete ID security checks on their mobile device. It says ID verification can be completed in a “few clicks” on an Apple or Android device. Once the initial headshot or selfie of a customer is captured, it is then assessed […]
Time flies, so we’ve devised a quick fix. Here’s a round-up of key events in the payments space. In China, Qilong and Shenzhen Qianhai Exce-card Technology (SQEC) have formed a strategic agreement to co-ordinate with banks to issue China Union Pay audio bank cards. The latter make sounds when the buttons on the cards are […]
Apple’s developers are previewing new Siri integrations for payments – such as asking it to send a secure payment without ever opening an app. The firm says with the introduction of SiriKit for developers, messaging apps can now tap into the “power” of Siri. Siri can be used to make a quick payment using Square […]
