Core banking systems

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Avaloq prepares for sale - Reuters

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Avaloq prepares for sale - Reuters

With its largest shareholder looking for an exit, Swiss fintech house Avaloq has begun exploring a sale or initial public offering, according to Reuters.

Money 20/20: The Chinese payments space is a critical enabler for e-commerce

/payments

Money 20/20: The Chinese payments space is a critical enabler for e-commerce

Shining the spotlight on Asia, key trends defining China’s place in the global e-commerce space are discussed in sessions at Money 20/20 USA’s Leadership Lodge, diving deep into how fintech firms are adapting to deliver broader, yet innovative services to support a diverse range of merchants with cross-border payments.

AI, cloud, blockchain and beyond: Changing the financial world individually and in tandem

/Core banking systems

AI, cloud, blockchain and beyond: Changing the financial world individually and in tandem

AI, cloud, blockchain and quantum computing form some of the pillars the much-discussed Fourth Industrial Revolution, with financial services watching on in anticipation of the disruption they promise in the years ahead.

Vista looks to sell stake in Finastra - Bloomberg

/retail

Vista looks to sell stake in Finastra - Bloomberg

Vista Equity Partners could offload a 50% stake in $10 billion financial technology outfit Finastra, according to Bloomberg.

Can AI detangle the spaghetti of banking systems?

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Can AI detangle the spaghetti of banking systems?

At Microsoft’s Future Decoded event in London, AI was the principal topic for discussion, with financial services no exception.

81% of banks would collaborate with fintech partners to execute digital transformation - Finextra

/payments

81% of banks would collaborate with fintech partners to execute digital transformation - Finextra

At EBAday 2019, hosted by Finextra in association with the EBA, it was revealed that 81% of banking executives would collaborate with partners to execute digital transformation most effectively.

Sibos 2019: How to innovate beyond open banking

/Core banking systems

Sibos 2019: How to innovate beyond open banking

Spotlight sessions at Sibos 2019 in London had one key message: change is the only constant in open banking. Lisa Robins, global head of transaction banking at Standard Chartered, kicked off afternoon keynotes at the Excel Centre by comparing how Shazam solves the problem of forgetting the name of songs to how open banking has disrupted the financial services industry.

Incumbents vs neobanks: Leverage new technology or risk crumbling

/Core banking systems

Incumbents vs neobanks: Leverage new technology or risk crumbling

Financial institutions are focusing heavily on digital transformation driving innovation, better customer experience and cost reduction as they shift gears from simply meeting regulatory and compliance needs to remain relevant in a digital world.

With AI and cloud, legacy systems no longer impede real-time intraday liquidity

/Core banking systems

With AI and cloud, legacy systems no longer impede real-time intraday liquidity

The BCBS28 monitoring requirement asks banks to gather, process and report on a significant amount of data on a monthly basis. Finextra spoke to industry experts Richard Morris, product manager, cash and liquidity management at SmartStream; Henrik Lang, head of global liquidity, global transaction services, Bank of America Merrill Lynch and Daniel Moon, a risk consultant with over 10 years of liquidity risk experience about how technology can prevent legacy systems from impeding the progress of real-time intraday liquidity.

Why financial institutions are modernising on cloud

/cloud

Why financial institutions are modernising on cloud

For financial institutions (FIs) leveraging the cloud, the earliest adoption was often the high-performance computing grid to support complex modelling. Gone were the days when limited capacity of on-premises grids meant that quants or actuaries had to wait for the compute resources they needed to run their models: across workloads, the cloud allows FIs to immediately scale up compute resources at peak times and scale down when demand dipped, paying only for what they use.

Ambitious P27 project grows team for next phase

/Core banking systems

Ambitious P27 project grows team for next phase

Nordic bank-backed P27 is undertaking a recruitment drive as it puts together the building blocks for a proposed 2021 go-live of its real-time, cross-border payment project.

AI and enhancing the human element in financial services

/ai

AI and enhancing the human element in financial services

At SIBOS 2019, industry experts will be discussing how the financial services sector is in the vanguard of deploying AI on a global scale and whether the technology will be a transformative force or has the potential to act as an existential threat.

Goldman Sachs tech head to step down

/Core banking systems

Goldman Sachs tech head to step down

The most senior technology executive at Wall Street firm Goldman Sachs is reported to be stepping down amid a clear out of senior partners, raising questions about the direction of Goldman's technology strategy

What are the benefits of being born in the cloud?

/cloud

What are the benefits of being born in the cloud?

An increasing number of challenger banks, neobanks and digital offshoots are being born in the cloud and the technology is now being used by traditional banks and new players alike for all IT needs. Banks that are born in the cloud are at an advantage because legacy players that are in the process of migrating to the cloud are struggling with application modernisation, data centralisation and security.

Temenos boosts US position through Kony acquisition

/cloud

Temenos boosts US position through Kony acquisition

Temenos has strengthened its hand in the US by agreeing to buy digital banking SaaS outfit Kony for $559 million and an earn-out of $21 million.

The Future of AI: Applications for banking business transformation

/ai

The Future of AI: Applications for banking business transformation

While artificial intelligence has established itself as a disruptive technology for decades, AI is at the peak of the hype cycle now and banks have started to apply this technology to transform traditional models of businesses.

Scaling for the next generation with APIs in the cloud

/cloud

Scaling for the next generation with APIs in the cloud

Today’s generation of consumers expect a digital-first experience from their providers. Whether they’re shopping online, streaming content or interacting with financial institutions, anything less than on-demand is no longer acceptable. However, when considering the US, retail banking is not yet fully digital, and customers must still visit a branch to fill out paperwork when opening an account.

How corporate bankers can leverage open APIs to innovate

/devops

How corporate bankers can leverage open APIs to innovate

Traditional banks are still not meeting the expectations of their customers because of the legacy core systems that most financial institutions are saddled with, preventing innovation.

Is RegTech encouraging a cloud revolution?

/cloud

Is RegTech encouraging a cloud revolution?

The deployment of new applications and the migration of core systems onto the cloud is in full swing, and financial institutions (FIs) could arguably soon be free of the legacy shackles that prevent them from moving forward into the age of digitalisation.

Finastra sells cloud-based core model to regional startup revverbank

/Core banking systems

Finastra sells cloud-based core model to regional startup revverbank

Revverbank, a Manchester-based new bank for regional businesses and savers in the UK, has selected Fusion Essence in the cloud to power its end-to-end core banking capabilities.

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