NCR Corporation (NYSE: NCR), a global enterprise technology provider for the financial industry, today announced that New Jersey-based Provident Bank has selected NCR Digital Banking to support their digital strategy for customer growth and retention.

Provident Bank looked to improve the customer experience through better capabilities, a more intuitive design and easy integration with their core banking systems.  As recently reported in Magnify Money, NCR’s Digital Banking platform powers five of the top ten mobile banking applications in the U.S.

“I am confident that with NCR Digital Banking we are making the right choice for our customers, our employees and our shareholders,” said John Kamin, executive vice president and chief information officer of Provident Bank. “Our customers demand and deserve an engaging digital experience that, in turn, can provide the Bank a competitive advantage.”

Mr. Kamin continued, “The digital solutions a bank provides to its customers are critically important. Because your customers use these solutions throughout the day, brand loyalty can be won or lost based upon the customer experience provided. Provident Bank wants to provide our customers an engaging, best-in-class experience that can help them successfully navigate their financial lives. With NCR Digital Banking, we are confident this goal will be achieved.”

“Provident Bank has a well thought out strategy for how their digital solutions can augment their branch network and provide additional benefits and functionality to benefit their customers. We are thrilled that they chose to partner with NCR Digital Banking to help make that strategy a reality,” said Douglas Brown, senior vice president and general manager, Digital Banking at NCR. “We’re proud to win new clients, especially when they view NCR Digital Banking as a key component in realizing their strategic goals.”

Ameen Al-Iraq Islamic Bank for Investment and Finance (known as: Ameen Al-Iraq) has just signed for Path Solutions’ iMAL Islamic core banking platform in preference to other core banking systems for its new digital banking business in Iraq. The contract signing took place in Beirut, Lebanon.

The iMAL suite was selected ahead of other digital core banking platforms in a tough race to enable Ameen Al-Iraq to provide its customers with a world-class banking experience, equal or better than leading regional banks, while allowing a speedy response to market demands.

While the country began to emerge from decades of conflict and hardship, Ameen Al-Iraq was founded as an Islamic retail bank licensed by the Central Bank of Iraq. Headquartered in Baghdad, the bank offers a wide range of Sharia-compliant financial services for retail, corporate, and trade financing for local corporations and contracting companies, in addition to mobile banking services such as deposits, withdrawals, account transfers, bill payments and balance inquiry.

Announcing this, Kamal Suhail Abdulla, Chief Executive Officer, Ameen Al-Iraq Islamic Bank for Investment and Finance, said, “Our ambition is to quickly become a true banking partner for individuals, professionals and businesses, particularly through an equitable, ethical and mutually beneficial relationship. We want to contribute to the construction of a fair and equitable Iraqi financial system. And thus, we aspire to be a great niche bank by embracing modern Sharia-compliant banking. We selected iMAL so we could conform to the Islamic law, easily adapt to the dynamic and complex Iraqi banking landscape, and serve our customers’ financial needs in a secure manner. We are confident that with iMAL we can readily meet emergent regulatory and industry compliance requirements”.

Ameen Al-Iraq has chosen iMAL Islamic core banking platform for its open architecture, digitally-rich functionalities, an unmatched company track record of successful implementation projects across more than 100 sites worldwide, and longstanding partnerships with leading Islamic banks in the region. The depth and breadth of iMAL is expected to help the bank gain business agility, create competitive differentiation, and position it well to address the opportunities of the future.

Mohammed Kateeb, Group Chairman & CEO, Path Solutions said, “Islamic banks in Iraq have been quick to realize that banking tomorrow will look fundamentally different from today. The Iraqi market appears to have considerable potential with a relatively large number of Islamic banks. Ameen Al-Iraq is clearly pioneering a path in this segment with a perspective of future development on a regional scale, and we are proud to be their IT partner of choice in their exciting journey. We are delighted to welcome them to the large and growing iMAL family in Iraq and globally”.

Path Solutions’ iMAL will provide Ameen Al-Iraq a world-class open banking platform that is highly scalable, proven, flexible and low risk as they forge this new and exciting chapter in their history.

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that New York-based NBT Bancorp Inc. (NASDAQ: NBTB), the parent company of NBT Bank, is empowering employees to deliver digital banking services tailored to the needs of customers using technology from Fiserv.

NBT Bank selected the single-platform Architect™ from Fiserv to enable a consistent digital banking experience across online, mobile and tablet devices. Architect also supports the bank’s branch of the future initiative, as customers will be able to try out new digital services in-person via the platform.

“A lot of companies today talk about mobile first, but we prefer to focus on the user,” said James Terry, senior vice president and director of systems development at NBT Bank. “We want to deliver the experience the customer is looking for—whether that is on their own digital device or in person at one of our branches. The goal is to give customers the freedom to bank how they want and create a deeper connection with them as a result.”

Architect features a software development kit (SDK) that allows financial institutions to differentiate by creating tailored offerings that cater to their target customers. The SDK was an important factor in the bank’s selection of Architect because it will enable NBT Bank employees to develop and implement new capabilities, fulfilling the bank’s commitment to continuing to expand digital service options.

“To meet the needs of our customers, we have to deliver new capabilities faster. We are at a point where we can no longer rely on an out-of-the-box solution,” said Michael Longo, assistant vice president and systems development manager at NBT Bank. “Moving to Architect is a catalyst in our transition from a project management focus to a development focus, because it will empower our team to deliver the best-in-class user experience and functionality our customers have come to expect.”

In addition to enabling the customer experience through digital banking and in branches, NBT Bank views technology as a key aspect of the employee experience. The bank believes the move to Architect will help attract and retain skilled employees. Employees will have the tools they need to act on customer feedback, and more in-house development work will lead to new career paths. Architect will also facilitate operational efficiency through increased automation of the bank’s current processes.

“NBT Bank recognizes that we need to evolve with our partners to meet the needs of customers,” continued Terry. “Fiserv is listening to us and is delivering the technology we need to make that possible. When we invest in technology, it’s with the customer at heart.”

In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.

Accelya, the leading provider of financial, commercial and analytics solutions for airlines today announces the launch of Accelya Payment Gateway – a platform that offers fast and reliable global payment acceptance, powered by Mastercard.

For any online retailer, adding a new payment method involves a high level of complexity in terms of working and ensuring reconciliation with multiple vendors and systems. This can mean a long time-to-market to add new forms of payment – resulting in loss of opportunity and, in certain cases, massive revenue leakage as airlines are unable to reconcile and account for these transactions at the ticket level.

‘With the upsurge of new payment methods around the world, airlines are struggling to deliver a seamless payment experience to their customers. While e-commerce teams may require a new payment method to be integrated, too often finance and IT teams are unable to support their plans. With the launch of Accelya Payment Gateway, airlines can now manage their complete payments lifecycle across all sales channels from the moment a booking is made, right through to the revenue being accounted, all through one airline exclusive solution,’ says Neela Bhattacherjee, EVP – Financial Solutions, Accelya.

Built for the airline industry, the Accelya Payment Gateway combines Mastercard Payment Gateway Services’ reliable and secure payment technology for merchants with Accelya’s deep understanding of the airline financial ecosystem, to create a highly scalable and resilient platform designed specifically to manage the complexities airlines face with payment processing and financial reconciliation. The new platform offers advanced payment processing that also keeps pace with emerging technologies like today’s e-wallets and network tokenisation.

‘Online shopping continues to grow and it is important that airlines can streamline their operations whilst offering consumers a frictionless payment experience,’ saysDavide Messina, Senior Vice President, Mastercard Payment Gateway Services.  ‘The combination of our reach, advanced payment processing and security with Accelya’s understanding of the industry will offer airlines an unprecedented partner in how they’ll be able to manage the payments experience.’

The Accelya Payment Gateway integrates into the existing Accelya Payments Solution portfolio which provides a 360º view of payments such as CardClear, for aggregation and billing; Payments Reconciliation, that provides transaction level control of every payment received to identify missing payments  and Chargeback Management, a dynamic, outsourced service that centralises the airlines chargeback process. Together the end-to-end solution enables airlines to drive revenue, reduce costs and maintain compliance.

Accelya has long been a trusted partner to airlines for their journey to success. The launch of the solution will help airlines move one step closer to their ultimate destination –a superior customer experience.

Entersekt today released further results from its recent online survey conducted by The Harris Poll among over 1,300 US adults who use banking apps once a month or more often (regular banking app users). The mobile-first fintech provider commissioned the independent market research firm to better understand US consumer attitudes towards mobile app-based banking and payments.

Data from the Federal Reserve among others show a significant slowing of mobile banking adoption in recent years, falling short of online banking usage rates even as smartphones approached saturation point and financial institutions of all sizes launched app-based services. The industry has responded with a change in strategy, analysts say. There’s more interest in designing cross-channel customer journeys – “hybrid experiences” – now than during the years of double-digit growth in mobile user numbers. Banks continue to bring more of their traditional offerings onto their apps, but the emphasis is less on ticking boxes than on deepening engagement and moment-to-moment relevance by making the best use of channels’ particular strengths.

Success during this period of rapid change rides on innovative thinking rather than an appeal to the tried and tested. Entersekt’s survey found that nearly three-quarters (71%) of regular banking app users would increase use of their banking apps if they offered a greater range of innovative, tech-savvy services, while over half (59%) would do the same if their apps were easier to use.

“The essence of digital channel innovation lies in empowering the consumer to do more through greater security,” said Sherif Samy, SVP North America at Entersekt. “Mobile banking is widely used in the USA, but financial institutions can still increase adoption and usage significantly through customer-centric, channel-appropriate digital product development.”

Great digital customer journeys start early, even before individuals sign up as clients. US banks and credit unions are giving attention to remote account opening, and Entersekt found it could be an early deal breaker. Over three in four regular banking app users (77%) say they would be more likely to choose a bank offering mobile account opening than one that does not. Interestingly, those on the cusp of Generations X and Y (those aged 35–44) value remote enrollment more so than their younger and older counterparts do (86% against 78% aged 18–34 and 73% aged 45+).

For more insights like these, download a complimentary copy of Entersekt’s illustrated survey report from its website.

Kantox, a leader in FX management solutions for businesses, has just closed its second venture debt financing deal with Silicon Valley Bank (SVB), the bank of the world’s most innovative businesses, enterprises and their investors.

The €5 million loan package is the second deal agreed between Kantox and SVB, with the first announced in December 2017. The new financing agreement underscores the appeal of Kantox’s growth story and SVB’s track record of investing in disruptive companies.

Philippe Gelis, CEO and co-founder at Kantox said, “We have a very strong relationship with Silicon Valley Bank and are happy to have them support Kantox again with more venture debt. This investment will contribute to our ongoing growth trajectory as we continue to bring more technology to the FX market.”

Craig Fox, Vice President at Silicon Valley Bank’s UK Branch added, “We appreciate the opportunity to work closely with Kantox to support its continued growth. Kantox is one of the most innovative and exciting Fintech companies coming out of Europe. The team at Kantox is building a market-leading, fully integrated platform to facilitate the seamless management of micro FX exposures, which is an area that presents considerable growth opportunities.”

Kantox’s success has been driven by its currency management and payment solutions, including its award-winning automated micro-hedging solution, Dynamic Hedging, which was recently named Best Risk Management Solution by Treasury Management International.

The company has appeared on the Deloitte UK Technology Fast 50 list each year since 2016 and was also named one of the fastest-growing Top 250 fintech companies globally by CB Insights. Over 3,500 clients in 25 industries have already exchanged more than €8.6 billion with Kantox.

Singapore Airlines has partnered with Adyen, the payments platform of choice for many of the world's leading companies, to ensure a frictionless payments experience for customers when they book online or in-app. Working with Adyen, Singapore Airlines has enjoyed an increase in authorization rates, flexibility on fraud risk management and richer data insights, resulting in a more seamless payment experience for its customers across the globe.

In line with Singapore Airlines' vision to be the world's leading digital airline, the partnership will center on Adyen's solutions to optimize the payments process. This includes the use of Adyen's direct credit card acquiring capabilities which eliminates the need to run payments across multiple third-party platforms, increasing Singapore Airlines' already healthy payment authorization rate by leveraging Adyen's RevenueAccelerate. Singapore Airlines can identify legitimate customers as the solution taps on Adyen's global, cross-industry data network to block fraudulent transactions, leaving the genuine travelers unhindered. This unlocks more revenue for Singapore Airlines and creates a frictionless experience for customers.

"For Singapore Airlines, best-in-class customer service begins with the booking," said Warren Hayashi, President of Adyen, Asia-Pacific. "At Adyen, we have seen that payments data can be the jet fuel that powers global expansion for airlines.  Payments data remains a valuable resource for companies who seek to understand their customers better and improve revenue. We are pleased to partner with Singapore Airlines to power seamless payments experience for travelers regardless of location, device or payment method." 

Econocom UK & IRL, a leading provider of digital transformation solutions, has appointed Keith Richardson as its new Director of Corporate Relationships. The appointment is part of the company’s ongoing commitment to the UK and follows an eight per cent year-on-year revenue growth for the Econocom Group.

Richardson has more than 40 years’ experience of working in the retail and banking industries. Prior to joining Econocom, he ran Lloyds’ Retail Coverage Team as Managing Director for over 11 years, growing the business within his client base by more than tenfold. Keith joined Lloyds Bank in 2007, having spent the previous 28 years at Tesco PLC, creating its treasury team in the early 1980s and supporting its international expansion in central Europe and Asia. He also set up the Asia treasury operation in Hong Kong in 2000.

Richardson assumed his new role at Econocom in March 2019 and is reporting into the company’s Managing Director for UK & IRL, Chris Labrey.

Richardson says: “I’m thrilled to have joined Econocom UK at such a pivotal stage in its expansion. Increasingly, organisations are looking for flexible and intelligent ways to deliver digital transformation to both their customers and staff without using capital expenditure. Econocom’s as-a-service model provides an elegant way to deliver on this and help companies manage their assets more efficiently.”

Labrey says: “Keith is very highly respected within corporate and banking circles and we are delighted to welcome him to our UK team. Organisations are increasingly turning towards us as the finance provider of choice for their technology investments, but it’s critical that we keep our customers front-of-mind as we grow. Keith brings considerable experience and an invaluable understanding of the challenges that retail and banking organisations face and will play an essential role in supporting these relationships, ensuring we continue to drive value for our customers.”

Richardson’s appointment is the first of a number of strategic new hires for Econocom as the company seeks to double its sales team in response to growing demand for its services. Both Matthew Joseph and Oliver Watts joined the Econocom sales team this month to manage customer relationships and push the Econocom mobile-as-a-service solution to the market.

PPRO Group, with its co-founders, is pleased to announce the set-up of the European Third-Party Provider Association (ETPPA), a new entity that strengthens Third Party Providers’ (TPP) interests around the second Payment Services Directive (PSD2). The ETPPA formalises the existing Future of European Fintech (FoEF) coalition into an official non-profit TPP trade association.

The FoEF was originally created to unite forces in requesting changes to the European Banking Authority’s (EBA) first draft of the PSD2 Regulatory Technical Standards (RTS) in February 2017, on the provisions governing strong customer authentication and secure communication between TPPs and banks, which was interpreting PSD2 very much against the interests of Fintechs in general, and jeopardising the business of TPPs in particular.

Several FoEF members represented the TPP interest at the European Commission’s API Evaluation Group and FoEF was also invited to take the vacant Payment Initiation Service Provider (PISP) seat at the ERPB (Euro Retail Payments Board - a high-level body chaired by the European Central Bank, gathering the supply and demand sides of European retail payments) as a guest until a formal representation has been established.

Ralf Ohlhausen, Executive Advisor at PPRO commented: “We are delighted to strengthen our position with the launch of the ETPPA, and we encourage all bank-independent TPPs and Fintechs with a significant interest in the PSD2 arena to join us, to bolster our efforts in supporting TPP interests vis-à-vis banks, as well as national and European authorities. 

“A crucial aspect of PSD2 is the abolition of the monopoly that banks have over accessing their customers’ account data. This will allow consumers to unlock their data and obtain a wide range of value-added services. It will strengthen the position of financial start-ups, as well as promote the development and use of innovative online and mobile payments and account information services.”

The ETPPA organisation has been setup lean and mean to make membership very affordable and divided into voting and non-voting members to allow different levels of engagement.

More information about the ETTPA can be found at www.etppa.org.