Collaboration accelerates data availability for lenders via Fusion LenderComm and Synergy DataLake

Finastra, the largest pure-play software vendor that serves the entire financial services industry, and AccessFintech, the data-sharing network optimizing workflow through collaboration, today announced that they have teamed up to bring greater data transparency, efficiency and industry-wide collaboration to the syndicated loan market.

Several honors and awards were recently bestowed on Path Solutions including the latest Best Islamic Technology Provider 2021 award from Islamic Finance news (IFN). For the first time in history, an Islamic banking software provider receives the most awards ever for its contribution to the growth of the Islamic financial services industry.

Judo Bank is now live on the nCino Bank Operating System platform, providing a single digital engagement experience for its customers and employees

JPay will pay $6 million in consumer redress and penalties

The Board of Banking Competition Remedies Ltd (BCR) today announces the results of the Capability and Innovation Fund Pool F grant process.

The Capability and Innovation Fund Pool F was open to organisations that meet the same eligibility criteria as previous Pool A, B, and C bodies, which can be found here.

The grants, which have a combined value of £12.5 million, are awarded as follows:

·       Awareness of net zero is becoming significant (at nearly 60%), although only around half of smaller businesses say decarbonisation or reducing environmental impacts is a near-term priority

·       35% of smaller businesses state cost as a barrier for reducing carbon emissions

·       11% of UK smaller businesses – equivalent to around 700,000 businesses – have accessed external finance to support net zero actions, and 22% say they are prepared to do so in the next five years

Currencycloud, the experts in simplifying business in a multi-currency world, have agreed to a strategic partnership with Plaid, open finance network and payments platform, that will deliver new joint solutions to make it easy for firms in the UK, including foreign exchange brokers, Fintech companies and banks, to operate in multiple currencies.

Until now, siloed systems and drawn-out mortgage processes have all led to a tedious journey for customers and employees alike. With millennials comprising 70% of first-time buyers in the UK, 57% of whom would likely choose a digital channel if applying for a mortgage today, digitalising mortgage journeys and overcoming the inefficiencies caused by banks’ siloed structures will be vital for banks to move into the 21^st century.

From 14 March 2022, Strong Customer Authentication (SCA) will become a mandatory requirement for online payments in the UK, meaning that consumers will no longer be able to check out using just their credit or debit card details. Instead, they will need to provide an additional form of identification, such as a PIN code, a fingerprint or a passcode sent to their mobile phone. 

Today consumers expect great digital experiences.  Financial institutions looking to meet these expectations are under more pressure than ever to innovate — while delivering seamless, frictionless, and secure services.