The next 20 years will see the world go from 20,000 “analog” banks to no more than several dozen “digital” institutions -Francisco González, BBVA Chairman

These days, “digital transformation” tops the list of mission-critical issues for banks. Most have been on this journey for years now, but are only halfway there and struggling. This is unsurprising given the breakneck pace of emerging trends such as Internet of Things, mobile ubiquity and wearables, combining to create a new and unfamiliar set of customer behaviors and expectations. 

To enable faster product development, greater process automation and higher-quality interactions with its North American insurance clients, Fidelity Life Association (fidelitylife.com) has selected Concentrix Corporation, a wholly owned subsidiary ofSYNNEX Corporation (NYSE: SNX), to process insurance claims and

Tunis International Bank (TIB), the first bank established in Tunisia under the non-resident banking regulations and a member of Burgan Banking Group, the regional banking arm of Kuwait Projects Co. (KIPCO), went live on ICS BANKS® from ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions.

Capgemini and IGATE today announced that they have entered into a definitive merger agreement under which Capgemini will acquire IGATE for a cash consideration of $48 per share. The transaction will amount to $4.0 billion and is expected to be immediately accretive to Capgemini’s normalised Earnings Per Share (EPS)[1].

Trayport today announced the results of its latest market participant survey. The survey was sent to over 50 companies including small and large trading firms and some of the industry's largest utilities.

Capita announces today it has launched Pay360, a new simple and flexible customer payment service, allowing any size of organisation to take card payments how and where they choose. The service is designed to make taking payments simple and easy and works with all face-to-face, online and telephone payment channels to help businesses improve cash flow, enhance customer service and strengthen their proposition; ultimately increasing their competitive edge.

 A comprehensive study published by Omgeo, a wholly owned subsidiary of The Depository Trust & Clearing Corporation (DTCC) and the global standard for institutional post-trade efficiency, reveals that 80% of respondents believe T+2 will become the global standard for settlement cycles within 10 years.

At the PayForum event, Sopra Banking Software, a global leader in software and services for banks and financial institutions, has won a PayForum Award 2015 for the multi-service HeliPay platform it jointly developed with Axway.

The overwhelming majority of banks, retailers and billing organisations worldwide are currently investing or planning to invest within the next two years into new payment technologies and infrastructure, a global survey by payments provider ACI and Ovum has revealed. Investment is driven by changing consumer behaviour as well as new market entrants threatening to disintermediate the existing payments supply chain. However, concerns over security as well as increasing choice and complexity are major hurdles when it comes to making investment choices, the research has found.