Banking

Equifax: Open Banking primed for further progress after first year

Ahead of the one year anniversary of the implementation of Open Banking on 13 January 2019, Jake Ranson, Banking & Financial Institutions Expert and CMO at Equifax UK, believes both consumers and companies will benefit from the growing development and impetus of Open Banking in the year ahead: Read more »

Twelve months on, open banking poses a significant challenge to traditional banks

This Sunday marks the first anniversary of the Open Banking initiative which was designed to increase competition and ensure a better experience for account holders. The last year has seen a sharp rise in the number of new fintech start-ups entering the market, putting 35 per cent of the revenue of traditional banks at risk. Read more »

North American banks need to prepare for digital change, according to report released by Temenos

Changing customer behaviors and demands should be fueling change in the service and products retail banks are offering, according to an in-depth study released today by Temenos (SIX: TEMN), the banking software company.   Read more »

Emirates NBD announces VAT-based loan solution for SME customers

Emirates NBD, a leading bank in the region has announced the launch of a new VAT-based enhanced loan solution for small and medium-sized enterprise (SME) customers. The new loan program makes it easier for SMEs to apply for financing by providing copies of their VAT (Value Added Tax) returns filed with the UAE’s Federal Tax Authority to serve as validation of business turnover and income. Read more »

Blockchain Technology Backed Home Remittances from Malaysia to Pakistan Made Possible to Promote Financial Inclusion Inbox x

Telenor Microfinance Bank, in partnership with Valyou of Malaysia, has introduced Pakistan’s first blockchain-based cross-border remittance service, powered by industry-leading blockchain technology developed by Alipay, the online payment platform operated by Ant Financial Services Group (“Ant Financial”). Read more »

BOKIS and Nets Renew Agreement on International Payment Cards

BOKIS, a Danish banking collective, and Nets, a market leader in the payments industry, have extended their existing agreement on handling payments with international cards. The agreement ensures that regional and nationwide banks in the BOKIS association, comprising 40% of the Danish payment card market, can continue to benefit from an efficient and stable card infrastructure.  Nets will facilitate international payment card transactions for... more Read more »

Insurance and Banking Consultancies Find Significant Benefits When Switching to a Cloud Based XBRL Reporting Platform

UBPartner (www.ubpartner.com) announced today that usage of its XT Cloud Service has soared over the last 12 months. New figures show that around 150 insurance firms and banks are now using the service for both quarterly and annual reports, primarily for Solvency II and CRD4 reporting. Read more »

Monzo is prepping for a US launch

UK neobank Monzo has started to prepare for its launch in the US, according to sources familiar with the matter cited by TechCrunch. The neobank has already set up a small team in the US to help lay the groundwork of bringing Monzo to the country.  Business Insider Intelligence  Read more »

Linedata to transform the lending experience with Loansquare’s digital platform

Linedata (Euronext Paris: LIN) announces the acquisition of French start-up Loansquare, whose portal digitalizes relationships between borrowers and lenders. By acquiring Loansquare, Linedata enhances the end-to-end capabilities of its platforms and services for lenders. "I am delighted to start 2019 with the acquisition of Loansquare, says Anvaraly Jiva, Founder and CEO of Linedata. We are engaged in an ambitious process of enabling digital... more Read more »

Bendigo and Adelaide Bank Goes Live with Wolters Kluwer’s OneSumX for Regulatory Reporting

Bendigo and Adelaide Bank has completed its implementation of Phase 1 of Modernized Economic and Financial Statistical Reporting (EFS) using Wolters Kluwer’s OneSumX for Regulatory Reporting. EFS is an ambitious regulatory change program, managed by the Australian Prudential Regulation Authority (APRA). Read more »

SINNAD migrates processing business to new platform based on Compass Plus products

Compass Plus, an international provider of retail banking and electronic payments software to processors and financial institutions, has announced that SINNAD, a leading GCC third-party payment service provider based in Bahrain, has deployed a new processing platform built on TranzWare and TranzAxis.  Read more »

RHB Banking Group Chooses Kamakura for NSFR

Kamakura Corporation is pleased to announce that RHB Banking Group, (http://www.rhbgroup.com/), the fourth largest fully-integrated financial services organization in Malaysia, has chosen Kamakura Risk Manager to manage its Net Stable Funding Ratio (NSFR) requirements.  Read more »

CONSUMER FINANCIAL PROTECTION BUREAU SETTLES WITH USAA FEDERAL SAVINGS BANK

The Consumer Financial Protection Bureau (Bureau) today announced a settlement with USAA Federal Savings Bank, a federally chartered savings association headquartered in San Antonio, Texas. Read more »

iwoca adds Barclays and HSBC to Open Banking connections

iwoca, the UK’s fastest growing small business lender, today announces it has connected to Barclays and HSBC banks under Open Banking. This expands the number of Open Banking connections offered by iwoca to three, including Lloyds Bank, and will enable more than 60 percent of the lender’s customers to take advantage of the Open Banking service. Read more »

Leading US Company selects Temenos Core Banking Platform in the Cloud

Temenos (SIX: TEMN), the banking software company, today announced that PayPal, Inc. has selected Temenos T24 Core Banking. The Temenos T24 banking platform will run on Temenos Cloud and support several of PayPal’s businesses across multiple geographies, including the US, UK, Germany and Australia. This signing is important for Temenos as it highlights its momentum in the US market with banks and disruptors alike.    Read more »

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