UK public not ready for challenger banks as concerns around security halts technology adoption
- 5 years 10 months ago
- Banking
Challenger banks have all the ingredients for success, but public’s trust in technology is a significant barrier to widespread adoption, according to Fujitsu’s ‘Technology and the New Banking Customer’ report. The study, which spans the UK, Germany, Spain, Republic of Ireland and the Nordics, found that two-fifths (40%) of the British public don’t trust challenger banks at all and 77% admit to only banking with a traditional bank.
Ping An Bank Relies on MX.3 for All Capital Markets Activities
- 5 years 10 months ago
- Banking
Ping An Bank, a nationwide joint-stock commercial bank with $497 billion asset under management, has successfully gone live on Murex’s flexible and open MX.3 platform. The bank is now using MX.3 across asset classes for all its capital markets activities, from front- to back-office and risk management, eliminating the need for reconciliation across multiple IT systems.
ACI Worldwide to Deliver Universal Payments Technology Via Microsoft Azure
ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time
Askari Bank selects Finastra to power its trade finance business
- 5 years 10 months ago
- Banking
Last week at Finastra Universe Dubai, Finastra announced that Askari Bank, a leading commercial bank in Pakistan, has chosen its market leading trade finance solution, Fusion Trade Innovation, to digitalize its trade finance business. The solution will enhance the bank’s comprehensive digital trade capabilities via built-in workflow features and will improve services for its corporate and retail customers by providing a smart user interface.
Indonesia’s largest banking group picks the Avaloq Banking Suite to enhance its wealth management unit
- 5 years 10 months ago
- Banking
Jakarta-headquartered PT Bank Mandiri Tbk, the largest banking group in Indonesia in terms of assets, loans and deposits, has selected the Avaloq Banking Suite to run its USD14 billion AUM wealth management division. The mandate, which Avaloq won after a highly competitive tender process, further increases the Swiss fintech’s Asia-Pacific client base and comes after a number of high-profile regional client wins and expanded partnerships in 2019.
Online banking, payments and money transfers are TOP-3 fintech products used by P2P investors
- 5 years 10 months ago
- Banking, P2P Lending
These are the findings of the P2P platform Robo.cash based on a survey among European P2P investors. Respondents show positive attitude towards digital services in general, which in large part is due to the age aspect. Most of them are Millennials and Gen Z who have grown together with the digital environment.
Temenos announces partnership extension with Citi to support global fund services business growth
- 5 years 10 months ago
- Banking
Temenos (SIX: TEMN), the banking software company, today announced that Citi has extended its existing contract for Temenos Multifonds Global Accounting to drive operational excellence, reduce costs and deliver digital customer experiences for its global fund services business. Temenos’ platform and integrated operating model delivers localized accounting and reporting to underpin the management of Net Asset Value (NAV) production.
Unite Launches Campaign to Save Bank Branches
- 5 years 10 months ago
- Banking
Unite, the union which represents staff working in bank branches across the country, will today (Monday 18 November) launch a campaign to ‘Save Bank Branches’. Outside a high street bank branch staff will stage a photo opportunity to launch the campaign to oppose the ever increasing number of local branch closures. Research has found that two thirds of the UK’s bank branches have closed in the past 30 years. The event will be attended by current... more
UnionBank, UBX become first Philippine partners for the MAS Business Sans Borders
- 5 years 10 months ago
- Banking
The partnership with the Monetary Authority of Singapore (MAS) allows UBX’s SME platform, Sentro to be integrated in the Business Sans Borders (BSB) system enabling SMEs from both markets to discover cross-border business opportunities.
Standard Chartered Invests in Regtech Startup Silent Eight
- 5 years 10 months ago
- Wholesale Banking
Standard Chartered’s innovation, fintech and ventures unit, SC Ventures, has participated in a Series A funding round for regtech Silent Eight. The AI-powered anti-money laundering and counter-terrorism financing startup raised an oversubscribed US$6.2 million in the round, with OTB Ventures and Wavemaker Partners also participating. The capital will be directed at new hires, with plans to double its 50-strong global headcount by the end of Q1... more
Pay.UK Knocks Back Faster Payments Fees to Cover APP Fraud
- 5 years 10 months ago
- Retail Banking
Proposals by seven UK banks to levy a per transaction fee for for certain Faster Payment transactions as a means to provide a long-term, sustainable funding arrangement for the reimbursement of APP scam victims, have been knocked back by governing body Pay.UK following an industry-wide consultation.
Avaloq completes the acquisition of Derivative Partners
Avaloq, the leading cloud platform and service provider for banks, wealth managers and investment firms, has successfully closed the acquisition of Zurich-based Derivative Partners AG, the number one independent information and data provider for structured products and derivatives in Switzerland. The deal was first announced in July this year. Derivative Partners will continue to operate as an organizational entity, with all staff retained.... more
Banking Circle Lending has been named Best Alternative SME Lender in the £0-£250,000 category
- 5 years 10 months ago
- Banking
Banking Circle Lending has been named Best Alternative SME Lender in the £0-£250,000 category at the Credit Strategy Lending Awards. Announced at a ceremony during the Credit Strategy Lending Summit in London, the Lending Awards is the only awards programme which distinguishes and rewards individuals and businesses across the spectrum of Alternative Lending, Commercial Finance and Mortgage sectors. As such they celebrate and recognise... more
United Arab Bank chooses Finastra to power digital transformation
Finastra announced today, during Finastra Universe Dubai, that it has signed a transformative deal with United Arab Bank, a UAE-based bank that offers services to retail and corporate customers.
Visa and Georgia's TBC-Backed Neobank-Space Announce Strategic Partnership
Visa, the world’s leader in digital payments, and Space, the first fully digital bank in Georgia, today announced they have signed a partnership agreement to jointly develop innovative banking services and expand digital banking footprints in new geographies.
