Utah-based Zions Bancorporation has gone live on TCS Financial Solutions’ Bancs core system with the transition of its consumer lending business over to the platform. The core transformation program, titled “FutureCore”, is divided into phases and consumer lending for the seven affiliate banks is the first phase to go live, with other phases to follow. […]
Sumitomo Mitsui Financial Group (SMFG) and Sumitomo Mitsui Banking Corporation (SMBC) are partnering with New York-based Entrepreneurs Roundtable Accelerator (ERA) for business development and tech innovation. According to Sumitomo Mitsui, ERA is New York’s largest and oldest tech accelerator, with 140 portfolio companies involved in a variety of markets. These firms have a combined market […]
Document capture and data analytics company Ephesoft landed $15 million in Series A funding from Mercato Partners. This marks the company’s first round of funding since it was founded in 2010, reports Finovate (Banking Technology’s sister company). “Mercato’s investment will help Ephesoft realise its vision of liberating meaning through machine learning technology,” says Ike Kavas, Ephesoft’s founder. […]
Junction National Bank (JNB) in the US state of Texas has signed to replace its legacy core banking software with iCore360 from Data Centre Inc (DCI). On the way out is the solution provided by Sharp BancSystems (SBS), now owned by Nymbus.
FitPay Inc, a US-based provider of payment, credential management and authentication platform services, is planning to offer prepaid capabilities on wearable and other devices connected to its FitPay Payment Platform.
Core banking software provider Finxact has made its Open Core API available through its sandbox for fun times in innovation. The firm says its API is transparent and granular, enabling banks to have full access to their customer data. Finxact adds that it is the first core banking provider to join the Open API Initiative. […]
Financial Resources Federal Credit Union in the US state of New Jersey has implemented Roostify’s mortgage technology platform.
Deutsche Börse will invest $10 million in New York-based Trumid Financial – a fintech firm offering an electronic trading network for corporate bonds. The $10 million gives Deutsche Börse a minority stake as an add-on to Trumid’s previously disclosed $28 million financing made earlier this year, and which included Chinese financial firm CreditEase. Hauke Stars, […]
After launching in 2016 in Singapore, Australia and Mexico, Citi Pay has arrived in the US.
India-based Infosys plans to open its next technology and innovation hub in North Carolina and hire 2,000 “American” workers in the state by 2021 – which is a dream within a bigger dream. This investment is part of its ambitions, revealed in May, to open four US hubs in the US and hire 10,000 “American” […]
First Data has completed its acquisition of US payments processor firm CardConnect for about $750 million in cash including the repayment of debt. As Banking Technology reported earlier, the Fintech Acquisition Corp acquired FTS Holding Corporation in July 2016 and renamed it CardConnect. At that time, it traded shares of CardConnect on Nasdaq at approximately […]
Wellspring Credit Union, a $48 million entity in the US state of Texas, has gone live with a new core processing system supplied by Utah-based tech developer FLEX.
Vantiv, a US-based payment processing and technology provider, and Worldpay, its counterpart in the UK, have reached “an agreement in principle on the key terms of a potential merger”.
A UK citizen living in New York is facing fraud charges brought by the US Securities and Exchange Commission (SEC) in relation to two bogus investment schemes.
Granger National Bank (GNB) in the US state of Texas has found a replacement for its legacy Tinisys core banking system, which is being sunsetted by provider Temenos/Trinovus.
How did BankMobile become the largest digital bank in the US? Luvleen Sidhu, the bank’s co-founder and chief strategy officer, shares the strategy.
Is PayPal’s investment in online lender LendUp a hint that the underbanked may not remain the underserved for long?
Baxter Credit Union (BCU) is launching a network of unmanned, video-only branches this year, and will be using Vidyo’s cloud-based video collaboration technology.
SnoCope CU, a small credit union in the US state of Washington, is revamping its core processing technology with CUProdigy. The new cloud-based platform will replace Fiserv’s Galaxy solution.
Venmo is planning to introduce a physical debit card to supplement its payments app.
Greater Wyoming Federal Credit Union has ditched its incumbent core software provider for Fiserv. The credit union has implemented Fiserv’s Portico core processing and digital banking system on a hosted basis.
Valley National Bank, a $23 billion regional bank holding company headquartered in northern New Jersey, is undertaking a widespread technology refresh to improve customer experience and profitability.
Morgan Stanley has unveiled an innovation lab with the aim of promoting diversity top of the agenda. According to the Financial Times, which has seen an application form, a four-month programme will begin in July and end in a symposium that will “expose companies to potential investors through showcase presentations”. The FT says any start-up […]
PayPal users in the US will soon be able to speed up money transfers to their bank accounts via eligible debit cards linked to their PayPal account. Bill Ready, EVP, COO, PayPal, says it expects that funds “will typically be available in your bank account in a matter of minutes, although some banks may take […]
Texas-based Lone Star Credit Union has become the 50th live site for the Keystone core processing system, supplied by Corelation.
Sandia Laboratory Federal Credit Union (SLFCU), the largest credit union in the US state of New Mexico, is modernising its front-to-back office technology with Alkami Technology and Corelation.
Rhode Island-based Citizens Bank is partnering with Bottomline Technologies to unleash a brand spanking new online and mobile banking platform for its commercial and business banking clients. The new digital banking platform offers a suite of cash management and payment services. The application features simplified transactions; integrated payment workflows; user personalisation with self-service capabilities; and […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Minnesota-based Affinity Plus Federal Credit Union has selected Fiserv’s Architect platform for a digital banking overhaul. The credit union will use Architect to help its online and mobile customers in branches, over the phone, and through digital channels. Dave Larson, president and CEO, Affinity Plus Federal Credit Union, says Fiserv has “the size and expertise […]
Payments services provider Circle is offering its customers in the US, UK and Europe the ability to send and receive money across borders with no fees and no mark-up on foreign exchange (FX) rates. The firm says it is “just like sending email or sharing photos” – meaning it’s “free and instant”. There will be […]
USAA, a banking and insurance provider that focuses on the US military personnel and their families, has made a “strategic investment” in machine intelligence software vendor CognitiveScale.
Glenmede Trust Company, a US-based investment and wealth management firm with $34 billion of assets under management, is consolidating its institutional and wealth operations on Charles River’s Investment Management Solution (IMS).
Florida-based Surety Bank is embarking on a core banking software overhaul with Nymbus. The bank will implement Nymbus’ flagship SmartCore system. The solution will be delivered in a private cloud.
More banks and credit unions have joined Zelle Network, a new peer-to-peer payments platform in the US.
California-based Redwood Credit Union (RCU) has launched a new mobile peer-to-peer payment solution, RCUPay. “RCU ends the IOU,” the credit union states.
California-based SafeAmerica Credit Union is building a new omnichannel banking platform with fintech start-up Bankjoy.
American Express Global Business Travel (GBT) has opted for SunTec’s Xelerate billing system for its corporate clients. According to SunTec, its platform can onboard new geographic regions and “weaves data locked in various legacy and modern billing systems” to create relevant offers for American Express GBT’s corporate clients. Michael Konstas, VP of billing strategy at […]
Argent Credit Union in the US state of Virginia has converted to a new core processing platform, Keystone from domestic software developer Corelation.
Private equity firm GTCR will buy Virginia-based Sage Payment Solutions (SPS) for $260 million. Chicago-based GTCR is acquiring SPS from the Sage Group, a provider of accounting, payroll and payment solutions headquartered in the UK. GTCR says it will work with SPS management to pursue organic growth and fund future acquisitions in the payment processing […]
IBM Security has launched fintech programmes and partnerships to overcome the projected 1.8 million-person cybersecurity worker shortage and boost its market share. As part of its initiative, IBM is sponsoring alternative education models such as Hacker Highschool and Pathways in Technology Early College High School (P-TECH). It is also looking to change traditional hiring models […]
