Banking

UniCredit to Axe 8000 Jobs

Italy's UniCredit says it will cut 8000 jobs and close 500 branches over the next three years as part of a programme to boost shareholder value. The bank's 'Team 23' programme aims to increase net profit to EUR5 billion by 2023 and enable it to return EUR8 billion to shareholders through buybacks. To help achieve this, there will be major job cuts and branch closures in Italy, as well as some in Germany and Austria. Meanwhile UniCredit has set a... more Read more »

Yolt Chief Moves Back to ING

Frank Jan Risseeuw, CEO of account aggregation platform Yolt, is moving across to ING to take charge of the Dutch bank's 'Model Bank' strategy. One of the cornerstones of ING’s Think Forward Strategy projects, Risseeuw will lead the integration of four ING Retail countries to a new single banking platform. Read more »

Deloitte Predicts 'Japanification' of Banking in 2020s

Leaders of banks need to look beyond banking in anticipation of disruption to their industry in the next decade, according to Deloitte. In its '2020 banking and capital markets outlook' report, the Big Four firm highlights its forecasts for financial services in the next year and beyond. Deloitte's broad prediction for the next decade is that of a consolidated industry with fewer banks existing in ten years' time. Fintechs will become mainstream... more Read more »

CEO of Yolt moves across ING after four years of building award winning open banking scale-up

Today Yolt announces that its Chief Executive Officer, Frank Jan Risseeuw, will leave the company after building the brand from an innovation concept to the market leading, award-winning personal finance app, available in three markets in Europe. In his new role, Frank Jan will move to Madrid to lead another of ING’s ambitious change programmes, which will include integrating four of ING’s Retail countries into a new scalable banking platform. Read more »

Path Solutions tops the Islamic Finance category in bobsguide Software Rankings 2019

Path Solutions, a worldwide provider of Islamic software solutions and services ranked first for the second year in a row in the annual bobsguide Software Rankings’ Islamic Finance category. The bobsguide Software Rankings are reflective of the power of technological advancement in a vibrant fintech ecosystem. bobsguide tabulated nominations from across the globe in 36 categories. Path Solutions won over every other entrant in the Islamic... more Read more »

Integral FX ADV down 6.6% MoM in November

Integral, the technology partner trusted by leading banks, brokers, and asset managers to help them outperform their competition in the foreign exchange market, reported today average daily volumes (ADV) across Integral platforms totaled $34 billion in November 2019. No other platform reaches as many, as varied, and as comprehensive a set of FX products and participants as Integral OCXTM. Banks, brokers, and asset managers now share direct... more Read more »

Nomura Expands Pico Relationship to Accelerate Growth of Global FX and Rates Businesses

 Nomura, Asia’s global investment bank, has selected Pico, a leading provider of technology services for the financial markets community globally, to build, host and manage a new platform supporting its latest innovation programs in foreign exchange (FX) and rates trading businesses.     The Nomura FX trading platform is co-located in data centres based in New Jersey (NY4), London (LD4) and Tokyo (TY3). With more efficient processing, Nomura’s... more Read more »

Wolters Kluwer Survey Points to Substantial Risk and Compliance Concerns for U.S. Lenders

Notable regulatory compliance and risk challenges remain high in a number of key areas for U.S. banks and credit unions. That’s according to results of Wolters Kluwer’s eagerly anticipated 2019 Regulatory & Risk Management Indicator survey. Read more »

Canadian Neo Bank Koho Extends Series B by C$25 Million

Drive Capital and National Bank of Canada have invested C$25 million in Canadian neo banking startup Koho. The new funding is an extension of the startup's earlier $42 million fundraising round led by Portag3 Ventures. Billed as an alternative to a traditional banking experience, Koho users are furnished with a reloadbale Visa card and and a mobile app which offers real-time insights into money management, instant cashback, round-ups, and... more Read more »

Monzo Hires Visa's Anil to Lead US expansion

UK digital bank Monzo has hired Visa's global head of payment products and platforms, TS Anil, to lead its push into the US. Anil, a 25-year financial services veteran with stints at Standard Chartered, Citi and Capital One behind him, will join Monzo as US CEO early next year. Monzo launched an initial beta roll-out in the US in August, working with 1000 customers to gather feedback on what it says will be a bespoke product for the American... more Read more »

Citibank Launches One-stop Mobile Account Opening Service

Citibank is launching its one-stop Mobile Account Opening Service, which allows new clients to open bank account1 (Citibanking, Citi Priority or Citigold Account) and investment accounts in one go through Citi Mobile® App at anytime and anywhere. The account application can be completed in a minimum of 10 minutes2. Once the application is completed and approved, the new bank account can be used immediately on the same day. Clients no longer have... more Read more »

The Avaloq Banking Suite enhances the user experience of Maybank Premier clients in Singapore

The Avaloq Banking Suite has been adopted by Maybank Group, South East Asia’s fourth largest bank by assets, to serve Maybank Premier clients in Singapore. The implementation, which went live successfully within the bank’s timeline on 25 November 2019, will provide the Maybank Premier segment with significantly enhanced system capabilities, delivering investment product features for affluent clients while upgrading the risk management and... more Read more »

Zopa Closes in on £130m Capital Injection for Bank Push

UK peer-to-peer lending outfit Zopa is set to secure £130 million in funding, enabling it to meet regulatory capital requirements for its foray into banking. As first reported by Sky News, an entity linked to IAG Capital Partners, a US-based fund, and its UK investment vehicle Silverstripe is on the verge of taking a majority stake in Zopa. The expected funding comes just days before Zopa's banking license-with-restrictions expires a year after... more Read more »

Norway’s Bank Branches Equipped with Keesing Solution to Streamline Onboarding of Customers.

Keesing Technologies is happy to report that, together with trusted partner Risk Information Group (RIG), it has been able to implement AuthentiScan, its customer onboarding and identity proofing solution in over 96% of all physical bank branches in Norway. Furthermore, the solution is rapidly gaining ground in Sweden, Denmark and Finland. Read more »

Path Solutions tops the Islamic Finance category in bobsguide Software Rankings 2019

 Path Solutions, a worldwide provider of Islamic software solutions and services ranked first for the second year in a row in the annual bobsguide Software Rankings’ Islamic Finance category. The bobsguide Software Rankings are reflective of the power of technological advancement in a vibrant fintech ecosystem. bobsguide tabulated nominations from across the globe in 36 categories. Path Solutions won over every other entrant in the Islamic... more Read more »

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