TONIK Selects Finastra’s Core Banking Solution to Power Southeast Asia’s First Pure-play Licensed Digital Bank
- 6 years 5 months ago
- Core Banking
Finastra announced today that TONIK, the first licensed digital-only bank in Southeast Asia, has selected Fusion Essence in the cloud to power its end-to-end core banking capabilities. The move will support TONIK as it launches its retail deposit and customer loans services in the Philippines, giving it agility and the ability to scale quickly.
Stratis Smart Contracts Challenge: Hackathon Winners Announced
- 6 years 5 months ago
- Blockchain
Stratis, an enterprise blockchain technology company, announces the winners of its latest hackathon, the Stratis Smart Contracts Challenge. Attracting nearly 200 participants and 13 high-quality submissions, the online hackathon produced a range of smart contract applications spanning finance, law, identity, trade, supply chain, charity, healthcare and gaming. US$10,000 First Place: Cirrus Swap
JCB expands its merchant network with Nets Group in Finland
- 6 years 5 months ago
- Payments
JCB International, Co., Ltd., the international operations subsidiary of JCB Co., Ltd., and Nordic-based payment service provider Nets Group, today announce the wider enablement of JCB payment acceptance by Nets merchants in Finland. This latest strategic expansion initially enables over 18,000 businesses across Finland to accept JCB payments through the Nets Merchant Services platform. This will provide JCB’s growing Russian and Japanese...
Finastra named best global trade finance software provider
- 6 years 5 months ago
- Trade Finance
Finastra has been named best global trade finance software provider by Global Finance at the Trade Finance Awards 2020. The accolade was announced at an awards ceremony held at the BAFT Global Annual Meeting in Frankfurt last week. It recognizes Finastra for its innovative technology in the trade and supply chain finance space.
Rabobank Invests in Digital Mortgage Broker Trussle
- 6 years 5 months ago
- Retail Banking
Rabo Frontier Ventures (RFV), the strategic investment fund of Rabobank, has contributed to a £7.5 million funding round in online UK mortgage broker Trussle The Dutch bank was joined by existing investors Goldman Sachs Growth, Finch Capital and BBVA-backed Propel Venture in backing the firm, which last raised £13.6 million in Series B financing in May 2018. Trussle is one of a new breed of fintech startups that uses proprietary automation and a...
JPMorgan and UK Aid Pump $15 Million into Catalyst Fund
- 6 years 5 months ago
- FinTech StartUps
JPMorgan has joined UK Aid in providing $15 million in support for Boston-based accelerator Catalyst Fund, which aims to back 30 fintech startups in Kenya, Nigeria, South Africa, India, and Mexico over the next three years.
Bank Cyberattack Could Hit Whole Financial System - NY Fed Research
- 6 years 5 months ago
- Cybersecurity
A cyberattack on a major US bank could have significant spillovers to other lenders, with serious implications for the whole financial system, according to research from the Federal Reserve Bank of New York. The report models how a cyberattack on a single large bank, a group of smaller banks or a common service provider can be transmitted through the wholesale payments network. The researchers estimate that a hit on a big five bank would affect...
Weak Passwords Caused 30% of Ransomware Infections in 2019
- 6 years 5 months ago
- Security, Authentication Technology
As one of the leading types of cyber-attacks, ransomware is expected to dominate cybercrime in 2020. According to PreciseSecurity.com research, weak passwords were one of the most common cybersecurity vulnerabilities in 2019, causing 30% of ransomware infections in 2019. Weak Passwords Are the Third Most Common Ransomware Cause Globally
Appian Announces Partnership with Celonis
- 6 years 5 months ago
- Artificial Intelligence
Appian (APPN) today announced a technology partnership and integration initiatives with Celonis, the market leader in AI-enhanced Process Mining and Process Excellence software, to unite Appian’s low-code application development platform with the powerful process mining technology of the Celonis Intelligent Business Cloud (IBC). The partnership will accelerate digital business process transformation and continuous process improvement for joint...
CaixaBank applies artificial intelligence to augment employee training
- 6 years 5 months ago
- Banking
CaixaBank has started to use artificial intelligence to improve the acquisition of new skills among its employees. The financial institution, chaired by Jordi Gual and with chief executive officer Gonzalo Gortázar, has launched a new version of Virtaula, an online training platform for its entire workforce, incorporating artificial intelligence to identify each employee's areas of interest and recommend courses tailored to their individual...
Open Banking Customer Numbers Surge
- 6 years 5 months ago
- Banking
Customer use of Open Banking in the UK has surpassed the one million customer mark for the first time, doubling in the past six months. The figures, generated by the Open Banking Implementation Entity (OBIE), only represent customers of the CMA9, the nine biggest current account providers in Great Britain and Northern Ireland. The doubling in customer numbers mirrors similar growth in third party service providers. Currently there are 204...
Australian Neobank Volt Makes Seamless Move From Series C to Series D Ahead of Planned IPO
- 6 years 5 months ago
- FinTech StartUps
With its sights set on an IPO later this year, Australian neobank Volt has closed a $70m Series C round and is now opening up a $50m Series D on a $285m valuation. The latest round lifts Volt’s total funding to $100 million in equity, and brings the challenger a step closer to a planned listing on the Australian Stock Exchange in late 2020. The neobanking startup, which recently launched its first deposit product, says the move to an immediate...
TSB to Create 100 IT Jobs at New Digital Banking Centre in Edinburgh
- 6 years 5 months ago
- Banking
TSB is to create 100 jobs at a new IT centre to be set up in Edinburgh as part of its digital banking strategy to avoid a repeat of its system meltdown. The new staff in Edinburgh will be IT specialists, data engineers and analysts. The bank has suffered online banking problems under a new system introduced in 2018, with 200 million customer temporarily losing access to their accounts in April of that year.
Former Standard Life Boss to Take Key Role on HSBC Board
- 6 years 5 months ago
- People Moves
Former Standard Life chief executive David Nish has today been named as senior independent director at banking giant HSBC. Nish, who has served on the board of the bank since 2016, will take over the role from Sir Jonathan Symonds next month. He will also become chairman of the group’s audit committee.
Cashaa Opens Broker Account for Crypto Businesses to Enforce New FCA Rules
- 6 years 5 months ago
- Cryptocurrencies
London-based crypto banking startup Cashaa is announcing the launch of a “Crypto Business/Broker” account to ensure crypto businesses/brokers are compliant with the FCA’s new rules for anti-money laundering and counter-terrorist finance and Fifth Money Laundering Directive (5AMLD).
