Banking

Al Baraka Bank Sudan transforms into an intelligent bank with iMAL*BI

Path Solutions, the market-leading provider of Sharia-compliant digital solutions to the financial services industry, today announces that Al Baraka Bank Sudan (“BBS”), a subsidiary of the strategic Bahraini multinational banking corporation Al Baraka Banking Group, has successfully completed the implementation of its new Business Intelligence solution on March 13th. Read more »

Judo Bank joins elite unicorn club

Judo Bank has raised $230 million in fresh equity at a post-money valuation north of $1 billion, lifting it into an exclusive club of local unicorns and showing the support of existing investors despite the risks COVID-19 present to business banking. Read more »

FAB Switzerland renews its long-term contract with Avaloq to continue the growth of its business

The Swiss subsidiary of First Abu Dhabi Bank (FAB) has selected Avaloq’s business process as a service (BPaaS) solution for a further long-term contract to support the institution’s strong growth ambitions. The bank, which awarded the contract to Avaloq after a highly competitive tender process, has been working with the company since 2007 and was its first private banking client in Geneva. Read more »

Nearly 70% of small businesses will be cashless

Research carried out by 3Gem for Amaiz, the business banking app, has revealed that 50% of small businesses have either become cashless or plan to as a result of Covid-19.  Of the rest, over 18% already only took card and just 21% of small businesses have no plans to go cashless.  Read more »

Tunisia’s Largest and Oldest Microfinance Institution Powers SME Banking and Supports Financial Inclusion with Temenos

Temenos (SIX: TEMN), the banking software company, today announced that Enda Tamweel (Enda) has gone live with cloud-native, cloud-agnostic Temenos Transact, the next generation core banking product. Delivering the most complete, richest functionality and advanced cloud technology, Temenos Transact provides Enda with agility, lowered total cost of ownership (TCO) and the scalability to fulfill its objective of contributing to the financial... more Read more »

Addition Financial partners with Backbase to provide personalized experiences to their members across all lines of business

Leading digital-first banking software provider, Backbase, today announces that Lake Mary, Florida-based credit union, Addition Financial, has selected its omni-channel platform to optimize its user experience. Partnering with Backbase will provide Addition Financial the technology to innovate and differentiate from its competitors, allowing it to offer outstanding digital services for retail and business banking members. Read more »

British Business Bank announces new lenders under the bounce back loan scheme for smaller businesses

Today the British Business Bank has announced that it has approved three new lenders for accreditation under the Bounce Bank Loan Scheme. The scheme is intended to target small and micro businesses in all sectors, with loans from £2k up to 25% of the business’ turnover with a maximum loan of £50k. Read more »

Countingup raises £4m to accelerate banking and accounting for small businesses

Countingup, the business current account that automates your accounting, has received the backing of leading fintech investors. The London-based startup has raised £4m in a bridge round of financing led by ING Ventures with co-investment from Triple Point, CVentures and BiG Start Ventures. All are backing the company’s vision to be the one financial hub for 1m small businesses. In the two years since Countingup launched, it now boasts more than... more Read more »

Conferma Pay and Visa to launch Virtual Card Payments Globally via Mobile App

Fintech leader Conferma Pay has teamed up with Visa to integrate Visa virtual cards in the Conferma Pay mobile app. This solution is now globally available to Visa’s commercial bank clients, allowing them to bring the Conferma Pay app to their corporate customers as part of Visa’s broader technology offering. Read more »

Tata Consultancy Services’ SaaS Banking Solution will Provide the Bank with a New Digital Core to Leverage Ecosystems, Launch New Services and Grow its Customer Base

Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting, and business solutions organization, announced that Continental Bank in the US has selected TCS BaNCS™ Cloud for Banking to digitally transform its business. Read more »

Temenos Awarded the Highest Status in Aite’s Matrix Evaluation of Investment and Fund Accounting Systems

Temenos (SIX: TEMN), the banking software company, today announced that the Temenos Multifonds Global Accounting product has been awarded ‘best in class’ status in Aite Group’s Matrix Evaluation of Investment and Fund Accounting Systems. Read more »

British Business Bank announces nine new lenders under the Coronavirus Business Interruption Loan Scheme

Today the British Business Bank has announced that it has approved nine new lenders for accreditation under the Coronavirus Business Interruption Loan Scheme (CBILS), bringing the total number of CBILS lenders to over 60. New lenders Assetz Capital, Atom bank, Ebury, Fleximize, Investec, Social Investment Business, Tower Leasing, Ultimate Finance and White Oak UK, will be able to provide financial support to smaller businesses across the UK that... more Read more »

Leading Bank in the Dominican Republic Selects Temenos to Power its Digital Transformation

Temenos (SIX: TEMN), the banking software company, today announced that BHD Leon has chosen to implement Temenos Transact, the next generation core banking product, as part of its digital transformation program. The implementation will be conducted in two phases, migrating business lines across retail, SME, corporate and wealth management sectors from a legacy system to Temenos’ cloud-native, API-first microservices-based platform. Read more »

Atom bank continues to support businesses through Coronavirus Business Interruption Loan Scheme (CBILS)

Atom, the UK’s number one rated bank on Trustpilot, has today announced that it has been approved for accreditation as a new lender by the British Business Bank to offer secured loans through the Government-backed Coronavirus Business Interruption Lending Scheme (CBILS). Atom will be offering eligible businesses secured loans from £100,000 up to £5m through the 200+ independent brokers that are registered to work with Atom. Read more »

Nordic fintechs Rocker and Enfuce team up to enable cutting-edge neobank build-up

Rocker, the Swedish neobanking pioneer, has selected Enfuce– Finland’s largest fintech startup – as partner for card issuing and payment processing. The collaboration enables Rocker to issue VISA prepaid cards easily and securely. Read more »

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