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Monzo and Starling Among Account Switching Winners
Monzo and Starling

Just five UK banks, two of them challengers, managed a net gain of customers in the third quarter of 2019, according to figures from the Current Account Switch Service.

Nationwide Building Society continues to have the largest net switching gain among the Current Account Switch Service’s 49 participant, putting on 25,355 customers in the quarter. Digital challenger Monzo gained 21,576, HSBC 17,204, Starling 7,075 and tiny ethical player Triodos 409.

In contrast, Halifax saw the biggest net loss, shedding 15,714, with NatWest losing 9,885 and Lloyds 8,076.

Thursday, January 23, 2020 - 12:05
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Financial IT
F-Secure UK awarded grant to research autonomous vehicle network security

Cyber security provider F-Secure has won a £25,000 grant to research the security of connected and autonomous vehicle (CAV) networks. The research will leverage F-Secure Consulting’s expertise in securing critical national infrastructure to help the company contribute to the integrity and trustworthiness of the emerging CAV ecosystem.

Thursday, January 23, 2020 - 12:01
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/news/cybersecurity/f-secure-uk-awarded-grant-research-autonomous-vehicle-network-security
Visa Takes 'Access To Cash' Programme Industry-Wide
Visa

Visa is taking its 'access to cash' programme industry-wide, working with partner banks to offer high street retailers in remote and rural locations a fee for processing cashback transactions over the counter.

The introduction of the UK-wide programme follows a year-long trial with Lloyds Bank, which offered rewards to retailers in return for providing cashback services.

The initiative comes in the wake of a backlash over the creation of 'cash deserts' in locations where bank branches have been closed and ATMs shut down.

Thursday, January 23, 2020 - 11:52
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/news/payments/visa-takes-access-cash-programme-industry-wide
Financial IT
Barclays announces new fintech partnership with insurance pioneer, Nimbla

In a high street banking first, Barclays has announced a partnership with Nimbla, a pioneer of single invoice insurance.

Barclays’ one million SME clients will have the opportunity to benefit from the partnership, with the new ability to take out insurance against individual invoices, rather than the whole book.

Thursday, January 23, 2020 - 11:52
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/news/insurtech/barclays-announces-new-fintech-partnership-insurance-pioneer-nimbla
Financial IT
BMO To Buy Clearpool
BMO To Buy Clearpool

Bank of Montreal has agreed to buy New York-based trading technology outfit Clearpool Group. Financial terms were not disclosed.

Founded in 2014, Clearpool has about 60 employees and over 100 clients, primarily US broker dealers who use its trading technology and execution services.

Once the deal goes through, BMO says Clearpool clients will maintain access to its technology and open architecture platform.

The unit will remain independent post-acquisition, with information barriers to secure clients' confidential information.

Thursday, January 23, 2020 - 11:49
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/news/trading-systems/bmo-buy-clearpool
Financial IT
Top five UK money transfer markets receive more than £10bn

New analysis reveals the top five money transfer markets for UK residents that account for nearly one third of the total sent home

New analysis by Paysend, the UK based fintech, reveals that just five markets account for nearly one third of the total money transferred home from the UK.

Paysend analysed the latest data from the World Bank. It shows that foreign workers, international students and expats in the UK send money to more than 130 countries worldwide.

Thursday, January 23, 2020 - 11:42
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/news/money-transfers/top-five-uk-money-transfer-markets-receive-more-ps10bn
Financial IT
Blockchain Life 2020 welcomes 5000 participants and leading companies of the industry on April 22-23 in Moscow

The biggest event on blockchain, cryptocurrencies, and mining in Europe is taking place at an innovative venue — Music Media Dome

On April 22-23 Blockchain Life 2020 brings together 5000 participants from 70 countries. Among them: businessmen and entrepreneurs, investors, miners, blockchain developers, founders of the innovative startups, government officials and everyone who wants to know more about one of the most promising sphere. 

Thursday, January 23, 2020 - 11:02
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/news/blockchain/blockchain-life-2020-welcomes-5000-participants-and-leading-companies-industry-april
Financial IT
Why increasing cost pressures mean banks need to put their ‘head in the cloud’

It’s true that banks are having to do more with less budget. Recent headlines have demonstrated we’re currently operating in an increasing cost pressured environment. The solution for some banks has been to cut costs through staff reductions – but is this always the right answer?

Thursday, January 23, 2020 - 10:50
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Open Banking Platform Tink and BNP Paribas Announce Strategic Partnership in Europe

Open banking platform Tink and BNP Paribas today announce an extension of their partnership in Europe. In addition to Tink’s existing partnership with BNP Paribas Fortis — the retail network of BNP Paribas in Belgium — Tink is now also entering a partnership with the Italian retail network of BNP Paribas, Banca Nazionale del Lavoro (BNL). As part of the partnership, BNL will start implementing Tink’s solutions for account aggregation, payment initiation and personal finance management. 

Thursday, January 23, 2020 - 10:43
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/news/open-banking/open-banking-platform-tink-and-bnp-paribas-announce-strategic-partnership-europe
Financial IT
PeoplesBank Selects NYMBUS SmartMarketing™ & SmartOnboarding™ Platform

NYMBUS, a provider of the world’s most advanced financial services platform, today announced 

Thursday, January 23, 2020 - 10:40
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/news/banking/peoplesbank-selects-nymbus-smartmarketingtm-smartonboardingtm-platform
Financial IT

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