Core banking systems

549 articles tagged with this keyword

/cloud

EBAday 2020: Banks, fintechs or card networks, what will be disintermediated after cloud adoption?

While day one discussions centred around how open banking needs to reach a point where it is just accepted as a conventional way that consumers, corporates and banks can manage their accounts and make payments, panel sessions on the second day of EBAday 2020 focused on how the cloud and Payments as a Service (PaaS) can also act as an enabler for open banking, potentially cutting out rails that are currently acting as intermediaries.

/startups

Monument picks tech vendors to build bank for mass affluent

Monument, a new digital-first UK bank for the mass affluent, has brought in Mambu, Salesforce, Amazon Web Services, Persistent Systems and Accenture for its technology build.

/payments

Target2 experiences total system failure, Sepa payments delayed

A complete failure of all payment transactions within the Target2 system was experienced for several hours on Friday, with backup systems and contingency modules also initially unable to function.

/payments

From hypotheticals to reality: P27 cogs are well and truly turning

Regulatory, technical, logistic, connectivity, and political challenges aren’t enough to slow the progress of P27. During their latest NextGen Nordics webinar by Finextra, industry players from across the European payments landscape joined to discuss the key factors impacting the project at present.

/retail

PeoplesBank launches digital-only bank

Massachusetts-based PeoplesBank has enlisted cloud-based core banking provider Nymbus to help it launch a digital-only subsidiary called Zynlo.

/cloud

Curve taps Thought Machine for new credit product

Card consolidation app firm Curve has picked cloud-native core banking vendor Thought Machine to power a new credit and loan offering.

/wealth

NEC acquires Avaloq

Japan's NEC has acquired Swiss core banking vendor Avaloq for CHF2.05 billion.

/cloud

Alkami raises $140m

Cloud-based digital banking technology vendor Alkami has raised $140 million in a funding round led by D1 Capital Partners.

/people

Thought Machine names ex-HSBC COO Maguire chair

Cloud-native core banking provider Thought Machine has appointed former HSBC group chief operating officer Andy Maguire as chair.

/payments

ClearBank dances on the cloud’s silver lining thanks to Covid-19

For the latest feather in its cap, the cloud-based ClearBank became the first clearing bank to offer multi-currency bank accounts via API. Partnering with JP Morgan, ClearBank will offer clients the ability to move funds between accounts through an API-based connection to JPMorgan, but this is just one step in what promises to be a period of strong growth for the firm.

/inclusion

Finastra to prioritise tackling financial exclusion and SME funding issues

As part of its accelerated innovation mission and open cloud platform strategy, Finastra has set forth a plan to support nine million lives around the world and focus on resolving the SME funding gap, inequality in financial services and financial exclusion.

/retail

Ohpen acquires mortgage fintech Davinci

Dutch fintech Ohpen has acquired cross-border loan and mortgages Software as a Service (SaaS) provider Davinci.

/wealth

Avaloq stake suitors include ION and NEC - Bloomberg

ION, NEC and a host of private equity firms are in the running to buy Warburg Pincus's 45% stake in Swiss fintech house Avaloq, according to Bloomberg.

/cloud

Moov raises $5.5m for open source banking platform

Moov Financial, the US startup behind an open source embedded banking platform, has raised $5.5 million in a seed funding round led by Bain Capital Ventures.

/people

11:FS cuts Foundry jobs

Fintech consultancy 11:FS is making more job cuts, bringing its technology unit into the main business as it seeks to reduce costs in the face of tough market conditions.

/people

Westpac hires new IT head

Australian bank Westpac has appointed former ANZ technology chief Scott Collary to lead the consolidation of its technology and operations division.

/startups

Mission-driven US investors doubling down on financial health value propositions

Supporting financially stressed customers has become problematic as more and more people experience uncertain income reduction, triggered by the coronavirus pandemic. Emmalyn Shaw, managing partner at Flourish Ventures, a $500 million mission-driven and fintech-focused venture capital firm, highlights to Finextra Research that despite prolonged economic prosperity in the lead up to 2020, the majority of Americans were living month to month and only 29% of US consumers were financially healthy.

/payments

Capitalising on Eurosystem changes to bolster instant payments

The benefits of implementing a cohesive instant payments system are manifold and well documented. As evidenced by the incoming European Single Market Infrastructure Gateway (ESMIG) and the need to integrate interoperable systems across Europe, the ability to access infrastructure that facilitates instant payments is vital.

/startups

French SME banking startup Memo raises funds for launch

Memo Bank, a French digital lender targeting SMEs, is gearing up for launch after securing $23 million in funding.

/cloud

NCino files for IPO

Cloud-based core banking vendor nCino has filed with the US Securities and Exchange Commission for an initial public offering.