Core banking systems

549 articles tagged with this keyword

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Money 20/20 Asia Q&A: Barclays’ John Stecher on fintech/banking co-opetition

John Stecher, chief innovation officer at Barclays, joined industry leaders at Money 20/20 Asia in Singapore to discuss the relationship traditional banks have with fintech challengers and technology companies. Ahead of the panel session, Finextra spoke to Stecher about how the ongoing evolution from competition to co-opetition between fintech startups and incumbents, as new players realise that because of a range of different factors, it is difficult to replace incumbent banks.

/Core banking systems

Money 20/20 Asia: Confronting the open banking monster

Money 20/20 Asia day two kicked off with a discussion on open banking and how regulatory mandates and open API guidelines are driving this initiative in this region. With Asia learning lessons from early adopters in Europe, panel sessions highlighted what the challenges are for banks and regulators.

/Core banking systems

Ant Financial launches core banking product

Ant Financial is furthering its ambitions to become a strategic technology supplier to the traditional baking industry, unveiling a new core banking platform co-developed with Hoperun Information Technology.

/Core banking systems

Temenos acquires data analytics firm hTrunk

Swiss core banking vendor Temenos has reached an agreement to acquire Indian data analytics startup htrunk.

/Core banking systems

Raiffeisen buys out Avaloq from JV following IT platform rollout

Following the completion of a major project that saw hundreds of sites moved to a new core platform, Raiffeisen Switzerland has decided to buy out its partner in the project, fintech firm Avaloq.

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Temenos backs platform to drive faster fintech procurement

Temenos, Cisco and Deloitte Luxembourg are among a group of companies setting up a due diligence, connectivity and testing platform to help the financial services industry in its efforts to work more effectively with fintech firms.

/Core banking systems

Finxact raises $30 million to redefine the core banking market

The American Bankers Association (ABA), Accenture Ventures, and SunTrust Bank have joined in a $30 million financing round for SaaS-based core banking startup Finxact.

/Core banking systems

Lloyds consults on plans to move customer accounts to new core

Lloyds Bank is looking at a £750 million annual saving in tech spend as it plots a move to a new core banking platform from tech startup Thought Machine.

/Core banking systems

Cognizant to acquire Finnish bank-backed Oy Samlink

Cognizant is to acquire bank-owned Finnish IT supplier Oy Samlink as part of a programme to implement a shared core banking platform for three of the country's savings banks.

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Fiserv agrees $22bn First Data acquisition

Fiserv has struck a $22 billion, all-stock deal to buy First Data, creating a payments and fintech behemoth.

/Core banking systems

Challenger bank Chetwood gets UK banking licence

Chetwood Financial, which is backed by UK hedge fund Elliott Management, is the latest challenger bank to be granted a full UK banking licence.

/payments

Handelsbanken Finland hands Evry £60 million contract for IT overhaul

Nordic software house Evry has won a £60 million contract for the implementation of new core banking and payment systems at Handelsbanken in Finland

/Core banking systems

IBM teams up with Thought Machine to hawk cloud-based core banking system

Thought Machine, the core banking startup set up by a gaggle of former Google engineers, has inked a global implementation partnership deal with IBM, gaining a heavyweight partner in its efforts to win over big clients.

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Accenture buys Intesa Sanpaolo's stake in Italian bank tech vendor

Italian banking group Intesa Sanpaolo has sold its majority stake in financial services technology firm SEC Servizi Spa to Accenture. Financial details of the deal were not disclosed.

/Core banking systems

Atom Bank signs up with Thought Machine

Digital-only Atom Bank is to entrust its next generation of personal and business banking products to core banking startup Thought Machine

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Banks must mimic edge computing implementation of tech giants - Gartner

At this year’s Gartner IT Infrastructure, Operations & Cloud Strategies Conference, research vice president and agenda manager Bob Gill from the advisory firm suggested that banks in need of improving customer experience must look at what the big tech players are doing.

/Core banking systems

Nordics P27 initiative could drive common infrastructure for direct debits

E-invoicing and direct debits stand to be transformed as a result of the P27 initiative, as well as the promotion of healthy competition among banks for new products and services, according to panellists at Finextra's NextGen Banking Nordics annual conference in Stockholm

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Lloyds invests in cloud-based core banking startup Thought Machine

Lloyds Banking Group has paid £11 million for a 10% stake in core banking developer Thought Machine as part of a strategic partnership designed to accelerate the UK lender's digital transformation plan.

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Westpac bets the bank on cloud computing

Australia's Westpac is expecting big returns from a $500 million investment in a new cloud computing hub, despite posting flat profits for the full-year 2018.

/startups

South Africa's app-only Bank Zero gets license

Bank Zero, a digital-only South African bank co-founded by former FNB chief executive Michael Jordaan, has begun alpha testing its app after securing a mutual banking license.