Commerce Bank (Commerce), a wholly owned subsidiary of Commerce Bancshares, Inc. (NASDAQ: CBSH), and Temenos (SIX: TEMN), the software specialist for banking and finance have announced that they have signed an agreement in which Temenos will provide to Commerce its world-class core deposit banking system. With Commerce’s selection of the Temenos platform, the bank will acquire a new, innovative, real-time core processor to drive strong customer relationships and faster speed-to-market of consumer and commercial products.

2016 was one of the most dynamic years yet for the global payments industry. It was the year we witnessed increasing levels of payments innovation, not just within the mature banking and payment sector of the Western world, but from all corners of the globe. This innovation was – and will continue to be – driven by the demand for greater convenience and the trend towards integrated payments and increased collaboration in the sector.

Technology will continue to be one of the biggest disrupting forces in the banking and finance sector in 2017, with innovations such as blockchain, chat bots, robo-advice and virtual reality finally breaking through. In 2016, we saw the time it takes to go from breakthrough technology to mass market application reducing as technology disruptors reshaped big business practice, and this breakneck pace doesn’t show signs of abating as we enter a new year.

 FIS^™ (NYSE: FIS), a global leader in financial services technology, and PayPal (NASDAQ: PYPL) have partnered to increase customer engagement and drive incremental digital spend with FIS’ banking partners.

Avelacom has completed a new segment of DWDM network, designed to be the lowest latency route between London – Moscow. The project includes deploying 900 km of terrestrial fibre and three new points of presence (PoPs) across Europe: in Amsterdam, Bremen and Helsinki. The backbone is connected to Cinia’s C-Lion cable in the Baltic sea and Avelacom’s fiber network in Russia. The latest update helps to achieve sub-35 millisecond latency (round-trip delay) London to Moscow. London – Moscow has always been one of Avelacom’s flagship routes.

Potential uses of blockchain have been debated in the insurance industry; product launches have been few. However there is hope: PwC predicts a 5 to 10 billion US dollars cost saving opportunity in a recent report and insurers are banding together.

B3i Initiative

Adrian Black, Founder and CEO of Contego, speaks with Financial IT about KYC and biometric verification at FinTech Connect Live 2016.

Adrian Black, Founder and CEO of Contego, speaks with Financial IT about KYC and biometric verification at FinTech Connect Live 2016.

Rasmus Groth, Founder of  Veridu, speaks about fraud detection and KYC at FinTech Connect Live 2016 in London.

Target Group, the financial services outsourcing and software provider is delighted to announce the signing of a new two year contract with the DVLA for their award winning payments system.