Banking

Contego chosen by Open Banking to help kickstart retail banking revolution

Contego, the RegTech and compliance specialist, has been chosen by The Open Banking Implementation Entity (the ‘OBIE’), the body created by the UK’s largest personal and small business current account providers to create a better way to move, manage and make more of your money, to verify its users and to support the much-anticipated technological revolution that promises to give people greater control over their finances. Read more »

Bricks and Clicks Unite: Metro Bank Takes The Revolution Nationwide With Launch Of Current Accounts Online

Metro Bank, the revolution in British banking, has launched instant online account opening for its current account. For the first time, customers from across the UK can join the bank as current account holders from the comfort of their own home, office, coffee shops, sheds, hot tubs… Read more »

The research was carried out among 248 senior banking execs, from across the globe, as part of Temenos’ 10th annual banking survey, co-authored with Accenture.

Eight in 10 bankers see Open Banking as more of an opportunity than a threat and 62 percent would be prepared to distribute third-party products through their platforms and channels, according to Temenos’ 10th annual banking survey. The findings underscore banks’ willingness to change their business models to improve profitability, which emerged as the top concern in the survey. The report, ‘Searching for profitability in a fast-changing world’... more Read more »

Finastra establishes Future of Banking Center of Excellence in Hong Kong

Finastra, a Vista Equity Partners portfolio company, today announced the establishment of its Future of Banking Center of Excellence at Cyberport in Hong Kong. This strategic move is part of the worldwide program at Finastra to continue to build its innovation ecosystem and collaborate with strategic partners around the globe. Robert F. Smith, Founder, Chairman and CEO of Vista Equity Partners, joined the team in Hong Kong for the announcement.   Read more »

World Finance Digital Banking Awards 2017

As the last year has shown, banks have had little choice but to fully embrace the digital revolution. Today, consumers demand the utmost convenience - and they expect no less from their financial service provider. Financial institutions are, therefore, faced with the cloud's double-edged sword, and the accompanying security risks that come with it. Read more »

Milestone for FinReach – Postbank, Yet Another Major Bank Uses the Account Switch Service

In partnership with the Berlin-based software provider FinReach, Postbank today launches a quick and secure tool for its clients to switch their bank account in less than ten minutes. The Berlin IT-provider has already assisted the switch of thousands of accounts through its fully-digital service.    Read more »

Danske Bank and TechStart NI Reveal Open Banking Challenge

Entrepreneurs in Northern Ireland are being offered the opportunity to pitch for £60,000 of funding as part of a new competition launched today by Techstart NI and Danske Bank.  The aim of the Open Banking Challenge is to find great ideas that use the opportunities created by the new era of banking technology to create exciting new apps, products or services that will benefit consumers or businesses. Read more »

Bank of Lithuania Unveils Blockchain Sandbox

Domestic and foreign companies will soon be able to develop and test Fintech blockchain solutions in the regulatory and technological sandbox platform-service LBChain, which is to be created by the Bank of Lithuania.  Read more »

United Bank for Africa Launches Facebook Messenger Chatbot

Pan-African financial institution, United Bank for Africa (UBA), has today, changed the face of e-banking with the introduction of Leo, the UBA Chat Banker who enables customers make use of their social media accounts to carry out key banking transactions. At the official launch of Leo, UBA’s Chat Banker, which took place in Lagos on Thursday, customers of the bank were given a step by step demonstration on the novel way of delivering lifestyle... more Read more »

UK's Open Banking to Launch on 13 January 2018

The UK’s largest account providers are making it possible for customers to make the most of their financial data and easily and securely access services from a wide range of companies that better meet their needs. This is the first major milestone in a multi-year programme to open all payment products to a vibrant, innovative new market for financial services Open Banking for current accounts begins on 13 January with a managed roll-out which... more Read more »

The CEO of Pilatus Bank believes that the Premier Banking model adopted by many high-street banks in the Europe is failing

The mass-affluent segment in Europe is expanding. Far from being a homogenous group, the demographic profile of the mass-affluent includes baby boomers as well as millennials. Similarly, their liquid investable assets range from $100,000 to $1,000,000. Hamidreza Ghanbari, CEO of Pilatus Bank, believes that to assume that this group would have the same financial behaviours and goals would be a mistake. Read more »

Pilatus Bank COO Addresses the Challenges Banks Face in Their Quest for Digital Transformation

The reality is that fintech startups and challenger banks are threatening to make a major dent in the banking industry as a result of the emergence of digital technology. As an endless stream of new advanced digital products are being launched, consumers are constantly exposed to the latest technologies with their mobile phones, cars, and home appliances. It's only natural that they demand for their bank to reinvent and stay relevant. Banks, on... more Read more »

ACI Unveils Cloud-Based Omni-Channel Solution for Merchants

ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, today announced that its UP Merchant Payments solution is available in the cloud. Based on a multi-tenant architecture, it offers the scalability required to meet the channel growth needs of merchants now and into the future. Read more »

Arab African International Bank Wins Two Awards from World Finance

For its exceptional work, Arab African International Bank (AAIB) has been awarded the accolades of Best Banking Group and Most Sustainable Bank in Egypt, 2017, by World Finance magazine. When AAIB was established in 1964, it became Egypt's first Arab multinational bank. Today, it's the country's fastest growing bank in terms of both size and profitability. Read more »

Transferwise Launches Consumer “borderless” Account and Debit Card

Transferwise is moving another step closer to banking territory with the expansion of its “borderless” account and debit card for consumers. The accounts can hold cash in more than 20 different currencies and will initially role out to 1,000 users following its launch last year for businesses. The company is also launching its own debit card, with both new features expected to be widely available in the coming months. “Our mission is to make... more Read more »

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