Jack Henry & Associates, Inc. (NASDAQ:JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its Jack Henry Banking^® division announced today that $2.5 billion-asset The National Bank of Indianapolis has migrated to the SilverLake System^® core to meet growing commercial and small business demand.

The National Bank of Indianapolis has experienced notable growth, and wanted to add more automation and streamline back-office processes to drive efficiencies. Because the bank found significant value in Jack Henry’s private cloud environment, it decided to keep this model and move to the SilverLake System core, beginning the migration at the pandemic’s onset. The National Bank of Indianapolis became Jack Henry’s first remote core migration in early 2020. 

Mark Bruin, president and CEO of The National Bank of Indianapolis, explained: “Migrations are a major commitment that require dedicated time and effort, which is why it’s so important to have a partner that is transparent about the process and works well with your team. We’ve enjoyed a successful long-standing relationship with Jack Henry due to their commitment to our bank’s needs and our cultural similarities, such as their service and commitment to employees and customers. We put our full trust in the process and people at Jack Henry as well as our own employees, making this remote migration one of our bank’s biggest internal successes to date. We look forward to leveraging the expanded functionalities our core now supports as we continue to grow.”

In addition to the new core, the bank also implemented the Banno Digital Platform™ to provide customers with more self-service options while maintaining personal service and human connections within the digital channel. Through the bank’s core-integrated chat service, Banno Conversations, customers will have a secure and authenticated channel to chat live with a bank representative. 

Bruin added: “We are not a mass-market bank; we are dedicated to making sure each customer has multiple points of contact at the bank to resolve their problems or needs through whichever channel they prefer. With Banno, we are providing modern digital tools that still support our high-touch approach to service. Being able to offer personal support at a customer’s moment of need – whether that happens digitally or in-person – is a key competitive differentiator.”

Stacey Zengel, senior vice president of Jack Henry & Associates and president of Jack Henry Banking, stated: “The National Bank of Indianapolis’ migration was not only a major success for the bank, but it also helped establish a template for how we managed all of the remote core conversions that came after. With its new core, the bank will benefit from added efficiencies and automation that allow it to scale more easily to meet growing business demand. Forward-looking institutions like The National Bank of Indianapolis are finding that offering a strategic mix of modern technology and human connection delivers an improved customer experience while enhancing its competitive position.” 

Commenting on sterling falling as the Bank of England expects inflation in excess of 3%, Olivier Konzeoue, FX Sales Trader at Saxo Markets, said: “The BoE chose to maintain accommodative measures in place, keeping the Benchmark Interest Rate at 0.1% and holding government asset purchases at GBP 875Bln, whilst outgoing chief economist Haldane was the only dissenter voting against keeping the bond-buying program unchanged (8-1 split on the topic).

“The MPC used similar rhetoric to that used by the US Fed of late, describing an expected peak in inflation in excess of 3% (versus 2.47% previously) as likely temporary in nature and flagged the uncertainty around the labor market outlook with close to 1.5 Million people still receiving wages through the furlough scheme. This justifies pushing back a potential 15Bps rate hike to August 2022, instead of June 2022, in order to avoid undermining recovery by a “premature tightening in monetary conditions”.

“GBP fell to session lows around 1.3906 after the announcement and hovers around the 1.3920 mark, whilst UK 10-year yields dropped 3Bps to 0.75% from 0.78%.”

The Independent Sustainability Agency Standard Ethics^[1] confirmed Fineco’s “EE+” rating for the second consecutive year – one of only two credit institutions currently awarded the most solid sustainability score .

Standard Ethics cited Fineco’s flexibility and a swift reactions to market challenges: characteristics which enabled the rapid implementation of ESG strategies in line with the international sustainability guidance from the UN, OECD and EU. Standard Ethics highlighted the development of adequate governance of sustainability tools, starting from FinecoBank's Board of Directors, representing best practice in terms of independence, professional pluralism and gender equality. 

Lorena Pelliciari, Chief Financial Officer and chairman of Fineco Sustainability Management Committee:

“We’re very satisfied about this result as it confirms Fineco’s ability to keep over time the high levels reached in sustainability, while accelerating in its path of growth. Being considered among the excellence of the banking sector not only for our swift answer to market challenges, but also for our governance, strengthens our effort for widening to more and more fields our principles of corporate ethics.”

The “EE+” rating is considered by Standard Ethics Rating a “very strong investment grade", assigned to sustainable companies with a low reputational risk and a strong long-term growth prospects. 

Fineco is a component of the Standard Ethics Italian Index, of the Standard Ethics Italian Banks Index, and is included in the FTSE4Good, in the Bloomberg Gender Equality Index and in the Nasdaq CRD Global Sustainability Index.  FinecoBank is also a signatory of the UN Principles for Responsible Banking – a single framework for a sustainable banking industry developed through an innovative partnership between banks worldwide and United Nations Environment’s Finance Initiative.

As the roll-out of 5G continues, Louise Lunn, Vice President, Global Analytics Delivery at FICO examines the challenge for banks and their partners

The comprehensive roll-out of 5G across the UK and the rest of Europe is due to be completed within the next five years. Many analysts, however, agree there’s already a notable lag behind North America and Asia, so banks in Europe must ensure they are ready to utilise the upgrade the moment it is complete.

5G’s arrival is expected to drive a predicted £495.4 billion in global business opportunities during the next decade. Of this, analysts expect around £159.2 billion worldwide will come directly from analytics and real-time automation, powered by the 5G data explosion. But the big question is whether the massive amounts of data created by 5G will swamp aging, legacy infrastructures of companies that don’t invest or innovate.t

All banks, lenders, financial services providers, telcos and fintechs can directly benefit from 5G’s adoption, as it will enable scaled-up connectivity to their customer base via even more devices. It’s predicted it will also set off an avalanche in the adoption of the Internet of Things (IoT), driving a surge in the number of connected devices – from smartphones, wearables and home appliances to sensors on all kinds of objects, be they public infrastructure or even clothes.

It’s also fair to say 5G is likely to have a direct impact on further empowering consumer-centric legislation like PSD2 (The Payments Services Directive 2), which is putting customers in the data driving seat by offering them a clear say in how personal information is shared and used by selected businesses. As a result, it will also become more important than ever for digital businesses to be able to plug into scalable machine learning and adaptable analytics platforms, as the use of third-party application programming interfaces (API) and third-party apps in driving the growing opportunities Open Banking offers consumers.

As connectivity continues to expand at an exponential rate, payment and ID verification technology will surge. As well as driving internet use generally, 5G’s high-speed bandwidth will enable a denser concentration of devices within a geographic area, but it will also be able to seamlessly link them.

Emerging 5G technology will also help to unlock a mass of insight and opportunities for a slew of industries. In banking, analysts predict remote intervention 5G will help support financial services to be even more precise with ongoing fraud analysis, monitoring of suspicious transactions, or sizeable data uploads to inform critical decision-making, thanks to super-fast connected devices.

But the challenge right now is to make sure systems are not only fit for purpose today, but future-proofed for tomorrow.  And there is a priceless opportunity to unleash the power of analytics and AI to drive smarter data-driven business decisions at scale – as long as ageing legacy infrastructure is upgraded as a matter of urgency.

Financial planning firm Metis Ireland has further expanded its team with three new hires, including a new Private Client Manager, a Client Services Associate, and a Client Services Executive.  

The latest round of appointments comes in response to growing demand from both new and existing clients, and follows an impressive period of growth for the business which now has more than €240 million in assets under management.

Bolstering the firm’s existing customer service-led offering and working alongside Metis Ireland’s national network of top-quality financial advisors, Susan Walsh, Eoin O’Brien and Kasia Preising join as Private Client Manager, Client Services Associate and Client Services Executive, respectively.

With offices in Dublin and Limerick, the latest expansion announcement follows a string of new hires for the business this year, including Dublin footballer Dean Rock who joined as a Client Services Associate, and Financial Planning Executive Kate Walley.

It also follows news that the firm has tripled the size of its Dublin office to accommodate their high aspirations for growth in the Capital.

Commenting on the latest recruits Metis Ireland founder and Managing Director, Carl Widger, said the expansion of the team reflected the firm’s ‘ongoing commitment’ to providing an unrivalled service, centred around its core values of ‘acting with integrity and in the very best interests of clients’.

He added that the move would bolster the team’s national reach and allow the business to accommodate growing demand from individuals and business owners looking for wealth management and financial planning advice both in the immediate and longer-term future.

An experienced Financial Advisor with more than 15 years’ experience, Susan Walsh joins the company’s Limerick office in the role of Private Client Manager, bringing with her a myriad of qualifications and a wealth of knowledge as a Specialist Investment Advisor.

Her role will see her guide clients through their financial journeys, helping them to achieve their financial goals no matter how big or small.

Also based in Limerick and providing support to clients across the country, Eoin O’Brien - a University of Limerick graduate and a keen sports player - joins the team as a Client Services Associate, while Kasia Preising – a qualified financial advisor who specialises in data analysis in finance - joins as a Client Services Executive.

Carl Widger said: “We are delighted to have three incredibly talented and knowledgeable individuals joining our team, with each of them bringing a wealth of demonstrated experience to the table."

“It has been a particularly busy year for the Metis Ireland team, with recent events prompting many of our clients to review their financial status and their plans for the future."

“The arrival of Susan, Eoin and Kasia is indicative of our commitment to supporting those new and existing clients, and of our focus on building a national network of dedicated, innovative and ambitious team members who act with the upmost integrity in all that they do.”

After a year of lockdowns and financial uncertainties, Carl added that many clients are particularly engaged with the firm’s Metis LifePlan.

“Business owners in particular are really seeing the benefits of engaging with the Metis LifePlan, which gives them and their families a roadmap for financial independence, whilst allowing them to focus on running their business,” he added.

“In many cases, the difficulties caused as a result of the pandemic have encouraged people to take a step back and to assess what really matters most to them. We’re pleased to be in a position to help them put in place strong foundations to ensure they’re well equipped for whatever the future might hold.”

Established in 2014 Metis Ireland has a world-class reputation for its inspirational and innovative approach to providing financial planning advice to its clients.

Ivno, the London-based financial markets Tokenization company, and CloudMargin, creator of the world’s first and only collateral and margin management solution native to the cloud, today announced a new strategic partnership that leverages Ivno’s distributed ledger technology (DLT) and CloudMargin’s collateral management capabilities. The first-of-its-kind partnership will enable market participants to benefit from minimising transfer costs, settlement failures and cash trapped in transit whilst optimising liquidity via a wide range of Tokenization solutions. It will also deliver significantly improved operational and treasury efficiencies.   

The proposition combines Ivno's DLT Tokenization and CloudMargin's award-winning cloud-based collateral management platform. Market participants will have the ability to Tokenize cash, cash equivalent and high-quality liquid assets (HQLA) to use for collateral. This approach will give clients the ability to instantaneously record and immediately settle Tokenized asset transactions whilst maintaining a legal look-through to the underlying asset. In addition to optimising operational processes and intraday cash flow, clients will derive further benefit from real-time liquidity insight and the ability to post and receive collateral outside normal banking window cut-offs.

Ivno is a blockchain Tokenization software supplier to financial markets clients requiring innovative solutions to reconcile value transfer requirements instantly and securely. Its offering is specifically applicable to Tokenized assets and stablecoin use cases for value transfer. CloudMargin’s advanced collateral workflow and settlement functionality, combined with Ivno’s technology, will enable mutual clients to benefit from robust, secure, business-defining solutions for liquidity management and payment modelling.  

Aaron Grantham, CEO of Ivno, said: "Clients are now able to seamlessly combine the strength of CloudMargin's operational credentials with Ivno's immediate value transfer software for instant Tokenization and settlement. Working in partnership with CloudMargin will enable our shared clients to leverage the benefits of a world-class team and technology by providing a highly innovative solution which delivers tangible value to their business."

Simon Millington, Global Head of Business Development at CloudMargin, said: “CloudMargin has always strived to be at the forefront of modern technology initiatives within collateral management. We believe that Ivno’s Tokenization technology represents a practical application of blockchain technology to solve settlement challenges within collateral management; it offers a compelling use case that gives firms a centralised, secure ledger where all parties – counterparties and their respective custodians – have access to the same information to settle instantly, thereby accelerating the settlement process. We are excited to work with Ivno to begin delivering this unprecedented service to the industry.”  

CloudMargin and Ivno have successfully completed initial testing on the initiative and validated workflows for secure settlement between the two technology providers. The partners are now seeking firms aiming to gain benefits from the compression of their settlement cycles to be part of the larger proof-of-concept.

Nium today announced that it has expanded its global payments network by adding a new corridor into one of Europe’s biggest economies - Poland. Nium customers around the world will now be able to send money to Poland in its local currency - PLN (Polish Zloty), with the offering being extended to their end-users as well. PLN payments will reach beneficiaries in as little as 30 minutes and the service can be used for all local currency banks accounts.

Poland has grown into a leading European manufacturing hub in the past years, best illustrated by the increasing number of new projects and investments it has attracted. According to a recent article, Asian companies have chosen to relocate production plants from Asia to Poland to diversify business activity and shorten supply chains. At the same time, Western firms have set up factories in Poland to bring down operating cost. The country was also named “South Korea’s gateway to the European Union”, witnessing an increasing amount of investment from the Asian powerhouse in recent years.

Nium’s network expansion into Poland will enable a faster and more convenient payments flow for its customers. It will help businesses overcome the complexity of sending local payments into Poland and open pay-outs into the country to facilitate B2B transactions, as well as B2C, C2C and C2B.

“Poland’s economy is expected to grow at a steady pace this year, as post-pandemic business booms.  We see more funds flowing into the country, whether for investment purposes or to pay vendors and suppliers. All funds transferred into Poland can be initiated in any of the 60+ source currencies currently offered through our pay-out platform and recipients will receive the money in the local currency”, says Frederick Crosby, Nium Chief Revenue Officer. 

Part of Nium’s European expansion, payouts in all non-EUR local currencies will also be made available to other CEE countries such as: Bulgaria (BGN), the Czech Republic (CZK), Hungary (HUF) and Romania (RON).

Länsförsäkringar has integrated Meniga’s cutting-edge personal finance management (PFM) solution into its own digital banking platform to help drive customer engagement, boost loyalty and dramatically improve the overall user experience of its customers across Sweden.

 Meniga, the global leader in personal finance banking solutions, has announced a partnership with Länsförsäkringar, one of the largest financial institutions in Sweden, to launch a new Personal Finance Management (PFM) solution.

As part of the agreement, Länsförsäkringar has integrated Meniga’s cutting-edge PFM solution into its own digital properties to help drive customer engagement, boost loyalty and dramatically improve the overall user experience of its customers across Sweden. The partnership with Meniga also marks a significant step in Länsförsäkringar’s broader vision of digitalising its entire offering and integrating all of its services - banking, personal lending and insurance - within one, easily accessible, solution. 

Länsförsäkringar’s new solution harnesses Meniga’s data management platform as the foundation for providing its customers with access to real-time data on their spending behaviour, and helping them better understand and manage their finances.

Acting as a personal finance advisor and an easy-to-use tool for everyday banking, the solution consists of several features designed to make the user experience as interactive and immersive as possible, including:

• Enhanced budgeting and financial planning capabilities 

• Categorised and enriched transactions, as well as savings goals and a full overview of transaction history

• Extensive insights and reports offering a seamless overview of a customer's financial life

• Practical search capabilities for specific transactions

Länsförsäkringar’s new digital banking solution is available in Sweden via iOS and Android app stores. 

Georg Ludviksson, CEO & co-founder of Meniga, comments: 

“We are extremely excited about joining forces with Länsförsäkringar. Partnering with such a reputable bank will no doubt prove instrumental in further cementing our position as the go-to digital banking solutions provider in the Nordics. Having worked assiduously with Länsförsäkringar to create an outstanding and first-class personal finance management experience for their customers, we are also very pleased to have been able to assist them during a time when so many people are in need of support and looking to take control of their finances.”