Cloud-computing solutions can help significantly to reduce banking costs in Africa
More than 700 million Africans lack access to a bank or mobile money account and only 41% of Africans are financially included. This is due to the high cost of providing financial services in Africa which forces many financial services providers to remain focused on serving wealthier customers.
Yemen’s Fastest Growing Bank Selects Temenos
- 4 years 10 months ago
- Open Banking, Banking
Temenos (SIX: TEMN), the banking software company, today announced that Yemen-based, Al Kuraimi Islamic Bank (KIB), has selected Temenos Infinity and Temenos Transact to replace its legacy IT systems and deploy a single, cloud-native, cloud-agnostic digital banking platform to underpin its banking operations. KIB is one of the Yemen’s top 5 banks, with 1.2 million customers and it aims to reach 5 million customers by 2023.
Jumhouria Bank of Libya goes live on SmartStream for reconciling payments
SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, today announced that Jumhouria Bank, the biggest bank in Libya, has successfully gone live on SmartStream’s solution for the reconciliations of cash payments - the first of a two phase implementatio
Promentor Finans Taps LeanDev's Banking Platform
- 4 years 10 months ago
- Banking
The fast-growing credit market company Promentor Finans expands its business and offers private individuals and companies savings accounts with a state deposit guarantee.
Low-code technology boosts the growth of specialist bank
- 4 years 10 months ago
- Banking, Infrastructure
Hampshire Trust Bank (HTB) is a digitally-focussed specialist bank staffed by experts that enable UK businesses to realise their ambitions. Primary operations include development finance, specialist mortgages and specialist business finance (including wholesale, block-discounting, structured asset finance and classic cars). HTB also provides award-winning savings accounts to individuals and businesses. With an ambitious growth target in mind,... more
Coronavirus Large Business Interruption Loan Scheme to Open on Monday
The Chancellor of the Exchequer today announced details of the Coronavirus Large Business Interruption Loan Scheme (CLBILS). Delivered by lenders accredited by the British Business Bank, the new scheme provides finance to mid-sized and larger UK businesses with turnover above £45m (the upper limit for the existing smaller-business focused CBILS).
ADIB is the first Islamic Bank to use Blockchain technology for trade distribution
- 4 years 10 months ago
- Blockchain, Islamic Finance
Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has become the first Islamic bank to successfully execute trade finance distribution transactions using Blockchain technology. The cross-border transactions, which were completed with multiple based banks, were made possible through ADIB's partnership with TradeAssets, a trade finance e-marketplace powered by Blockchain technology to help digitize the traditional processes... more
Funding Circle Accredited Under the Coronavirus Business Interruption Loan Scheme
Funding Circle, the small business loans platform, has today been approved for accreditation by the British Business Bank under the Coronavirus Business Interruption Loan Scheme (CBILS), term loan variant. Funding Circle expects to open CBILS applications within the next week once it has completed the required legal and operational approvals with the Bank.
Sopra Banking Software Releases Cassiopae V4.7 as Scheduled
- 4 years 10 months ago
- Alternative Finance
Sopra Banking Software released on March 31 Cassiopae V4.7, a leasing and lending application, which is part of the company’s Sopra Financing Platform. The company met the ambitious release date announced ten months ago. The new release, Cassiopae V4.7, includes an enhanced digital portal for dealers and merchants, credit card processing via electronic payment partners, revolving credit for individuals, and improvements in the management of real... more
Santander launches PagoFX in the UK to offer fast, secure and low-cost international transfers with no fees for two months
- 4 years 10 months ago
- Banking
Banco Santander today announced the launch of PagoFX, a low-cost international money transfer service, in the UK. This new service, available via a mobile app, allows UK residents with a debit card issued by any UK bank or financial entity to seamlessly and quickly send money abroad from their smartphone with low costs, bank-level security and customer support via in-app chat, web and e-mail. In light of the ongoing coronavirus pandemic,PagoFX... more
Auriga acquires the award-winning ATM cybersecurity solution Lookwise Device Manager from leading managed security services provider S21sec
Auriga, a leading supplier of technological solutions for the omnichannel banking and payments industries, announces the acquisition of Lookwise Device Manager (LDM), a modular security platform and cybersecurity business unit from S21sec, a leading European managed security services player. S21sec is part of Sonae IM’s portfolio, a corporate venture capital firm investing in cybersecurity, retail and telecommunications technology companies.
Appian helps banks automate lending for UK COVID crisis
- 4 years 10 months ago
- Banking
Appian today announced an application built on its Low-Code Automation Platform to support accredited lenders across the UK to manage the Coronavirus Business Interruption Loan Scheme (CBILS) applications from businesses, as well as the anticipated Coronavirus Large Business Interruption Loan Scheme (CLBILS). The new loan application can automate and check eligibility, process and verify required supporting documents, and make lending decisions... more
Allica Bank launches a (1.49%) 12-month fixed term deposit account for retail savers
- 4 years 10 months ago
- Banking
Allica Bank – the business bank that seeks to empower small and medium sized businesses – has today announced the launch of its first deposit account, for retail savers. The FSCS protected accounts will offer a 1.49% rate of interest, fixed for 12 months. Accounts can be opened online and managed through the bank’s internet banking platform and secure messaging service.
Hong Kong’s First Virtual Bank Selects Wolters Kluwer’s OneSumX for Regulatory Reporting
- 4 years 10 months ago
- Banking
ZA Bank, the first virtual bank in Hong Kong, has chosen Wolters Kluwer’s OneSumX for Regulatory Reporting as its regulatory reporting software. OneSumX for Regulatory Reporting combines bank data into a single source of data to ensure consistency, reconciliation and accuracy and includes Wolters Kluwer’s Regulatory Update Service. This unique service is maintained by Wolters Kluwer experts who actively monitor regulation in 30 countries.
Meniga continues successful collaboration with UniCredit to launch enhanced version of the Smart Banking app in the Czech Republic
- 4 years 10 months ago
- Banking
Meniga (www.meniga.com), a leading provider of digital banking technology, has partnered with global banking and financial services company, UniCredit, to launch an enhanced version of the popular Smart Banking app in the Czech Republic. The development of the new Smart Banking app follows Meniga’s and UniCredit’s collaboration on the successful launch of the Mbanking app, in Serbia in 2019.
