Core banking systems

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/Core banking systems

FIS tech to power India's first bank for women

India's first public sector bank for women opens its doors today, powered by technology from US fintech vendor FIS.

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Westpac lays out five-year plan for core platform refresh

Australia's Westpac has committed to a five-year programme to consolidate its core banking architecture to an upgraded real-time platform from Hogan Systems.

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Indian bank IT spending to hit new highs - Gartner

Indian banking and securities companies will spend 462 billion rupees (EUR5.5 billion) on IT products and services in 2014, an increase of nearly 9.8 percent over 2013 revenue of 421 billion rupees, according to Gartner

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DigitalPersona acquires core banking biometric outfit Identity Stream

US fingerprint authentication outfit DigitalPersona has acquired Georgia-based Identity Stream, which offers a turnkey biometric system for core banking users.

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Rotten core: Bank IT costs set for material increase

Banks operating ageing IT platforms can expect to experience a material increase in running costs over the coming years, only partially offset by the introduction of smaller cheaper-to-run branch outlets.

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Co-op writes off £148 million in IT costs as losses widen

The UK's Co-operative Bank has written off a further £148 million in IT costs as it ditches plans to implement a new core banking platform from Infosys.

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D+H closes $1.2bn Harland acquisition

Canadian financial technology firm Davis and Henderson (D+H) has completed the US$1.2 billion cash acquisition of US counterpart Harland Financial Solutions.

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Global core banking market to hit $10bn in 2017 - Celent

Global spending on core banking technology is set for steady, if unspectacular, growth over the next four years, breaking the $10 billion barrier in 2017, according to research from Celent.

/Core banking systems

Temenos launches social media monitoring and compliance tool

Swiss fintech vendor Temenos has unveiled SocialComply, a social media monitoring and compliance tool designed to help financial institutions engage with customers while managing the associated risks.

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Misys appoints Syed as CEO, Mesler as chief operating officer.

Misys has elevated president and COO Nadeem Syed to the post of chief exective officer, taking over from incumbent Bret Bolin, who becomes executive chairman.

/Core banking systems

SocGen private bank completes two-year project to migrate core banking system to the cloud

Luxembourg private bank Société Générale Bank & Trust has completed a two-year project to migrate its core banking system, comprising ten million lines of code, to a cloud computing architecture.

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Sainsbury's acquires full control of banking arm; hires FIS as core provider

UK supermarket chain Sainsbury's has confirmed its intention to assume full control of its banking operations and has hired US-based FIS as its chief technology partner.

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Bian signs PNC as first US bank member

The Banking Industry Architecture Network (Bian), an organisation working to establish a service-oriented architecture (SOA) standard in the finance industry, has signed up PNC as its first US bank member.

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Temenos targets US SaaS banking market through TriNovus acquisition

Temenos has acquired TriNovus in a move designed to help the Swiss core banking vendor break into the US software-as-a-service (SaaS) market.

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NAB installs new IT overhaul boss in search of A$800m savings

National Australia Bank has put a new face in charge for the next stage of its massive technology overhaul, which is designed to help make the bank annual savings of A$800 million within five years.

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Ex-COO Cullinane leaves Temenos

Former Temenos chief operating officer Mark Cullinane has left after nearly 10 years with the Swiss core banking vendor.

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Swisscom acquires Entris Banking IT outsourcing business

Swiss IT integration house Swisscom is to acquire the Entris Banking IT outsourcing business of RBA-Holdings, which provides services to 41 regional and savings banks across the country.

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Indian financial services IT spending to grow 12% in 2012 - Gartner

Indian banking and securities companies will spend 416 billion rupees on IT products and services in 2013, an increase of more than 12% on last year, according to Gartner.

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Fiserv buys Open Solutions

Fiserv has acquired rival fintech vendor Open Solutions for $55 million in a deal that also sees it assume around $960 million of debt.

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Temenos agrees edge IPK acquisition

Core banking vendor Temenos has signed a definitive agreement to buy edge IPK, a provider of user experience platform (UXP) software to the financial services industry. Financial terms of the deal were not disclosed.