Banking

Saxo Bank announces H1 2018 results

Saxo Bank Group (“The Group”) reported a positive net profit of DKK 150 million for the first six months of 2018. In a period with low market volatility and the introduction of a new competitive pricing structure, operating income for the Group reached DKK 1.51 billion, a decrease of 0.3 per cent compared to the first half of 2017. Client collateral deposits continued to rise to DKK 110.4 billion representing an increase of 7 per cent compared... more Read more »

Industrial Bank Co., Ltd creates new Hong Kong Private Banking Business with Avaloq Banking Suite

Fuzhou-headquartered Industrial Bank Co., Ltd, one of China’s largest banking groups with total assets of CNY 6.09 trillion1, has selected Avaloq to provide a comprehensive front-to-back banking solution for its Hong Kong Branch private banking business. In conjunction with Avaloq’s premium implementation partner Orbium, the Avaloq Banking Suite was implemented in just six months. Read more »

Fast Blockchains as a Core of New Banking Technologies

It is no secret to anyone that the main banking systems around the world are eyeballing blockchain technologies as a potential panacea for the many issues that have been plaguing the industry. There are dozens of applications for blockchain and banking has always seemed to be one of the most promising directions for the technology’s application. Read more »

Compass Plus survey reveals consumers still don’t trust contactless payments

A survey conducted by Compass Plus, an international provider of retail banking and electronic payments software to processors and financial institutions, has revealed that despite 84% of consumers regularly making contactless payments, they are still not considered to be secure. Read more »

Banks scored on quality of service

From today (15 August 2018), banks must publish information on how likely people would be to recommend their bank – as well as its online and mobile banking, branch and overdraft services – to friends, relatives or other businesses. Read more »

Canadian credit unions trial Amazon Alexa service

Canada’s first-ever authenticated voice banking service using Amazon Alexa, launches from creator Central 1 today. Central 1 clients – Innovation Credit Union and Conexus Credit Union – are piloting the technology that allows customers to use their voice to command actions for their bank accounts, as if Amazon Alexa were a customer service representative.  In addition to being cutting-edge, the technology is revolutionary for those who may be... more Read more »

New FCA rules double pressure on traditional banks to provide seamless customer experience

Today the Financial Conduct Authority (FCA) has enforced new rules requiring providers of personal and business current accounts to publish information that will help customers to compare bank accounts from different providers.  Read more »

Intelenet Global Services: New FCA rules double pressure on traditional banks

Today the Financial Conduct Authority (FCA) has enforced new rules requiring providers of personal and business current accounts to publish information that will help customers to compare bank accounts from different providers. Read more »

World Wide Technology: FCA lays out new rules for banks on reporting operational and security incidents to customers

Increased visibility for customers means banks must ramp up risk mitigation On Wednesday 15th August, the Financial Conduct Authority (FCA) will enforce new rules requiring providers of personal and business accounts to publish information that will help current customers to compare bank accounts from different providers. Banks will have to report major operational and security incidents that have taken place and disclose whether 24-hour... more Read more »

National Bank of Egypt Partners with Finastra to Upgrades UK treasury and risk management operations

Finastra today announced that National Bank of Egypt (UK) Limited is deploying Fusion Treasury and Fusion Risk. The treasury and risk solutions will be tightly integrated with the bank’s existing Fusion Equation core banking system - helping the bank to deliver a more comprehensive and superior service. Read more »

Onpex moves into banking-as-a-service space

ONPEX a leading provider of multi-currency IBAN solutions, has launched its cloud-based Banking-as-a-Service.  The platform offers multiple tools such as IBAN issuing, Single Euro Payments Area (SEPA) and cross-border payments, as well as multi-currency management. Given the platform’s capabilities, businesses can build, configure and manage their own financial services. Read more »

Pakistan added to Emirates Islamic QuickRemit money transfer routes

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, today announced that its 60 second online fund transfer service ‘QuickRemit’ is now available for remittances to Pakistan.  The Bank has launched the service to coincide with Pakistan’s Independence Day.  Read more »

New Islamic core banking software deal for Path Solutions in Morocco

Path Solutions, a global leader in Sharia-based technologies to the Islamic financial services industry, has announced that it has signed a strategic partnership agreement with Attijariwafa Bank Group in Morocco. Under the terms of the agreement, Path Solutions will provide and implement its interest-free core banking platform iMAL across the 31 branches of Attijariwafa Bank participative subsidiary Bank Assafa, including Sharia-compliant... more Read more »

The Agricultural Bank of Sudan is now operating on ICS BANKS ISLAMIC from ICS Financial Systems

Khartoum, Sudan: The Agricultural Bank of Sudan, the first national Sudanese bank and is wholly owned by the Government, has gone live on  ICS BANKS ISLAMIC from ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions. Read more »

Q2 to Acquire Cloud Lending Solutions

Q2 Holdings, Inc. (NYSE:QTWO), a leading provider of secure, experience-driven digital banking solutions for community-focused financial institutions, has announced an agreement to acquire San Mateo, California-based Cloud Lending, Inc., a privately-held SaaS company that provides an integrated end-to-end lending and leasing platform. Through their platform, Cloud Lending helps lenders close more loans, generate more revenue and provide a better... more Read more »

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