Core banking systems

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/Core banking systems

Southern Mass CU selects Corelation for core upgrade

With a laser focus on the future, Southern Mass Credit Union (SMCU) ($282 million assets; 14,237 members; Fairhaven, MA) has spent the last few years concentrating on strategic improvements, plans for growth, and implementing modern products and services.

Target2 experiences total system failure, Sepa payments delayed

/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.

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

/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

Temenos launches real-time Saas data platform for core banking

Temenos (SIX: TEMN), the banking software company, today announced the launch of Temenos Transact Data Hub, a real-time data platform that is integrated and embedded within Temenos Transact, the market leading core banking solution.

/Core banking systems

Taunton FCU to convert to Corelation's KeyStone

The last decade has witnessed considerable growth for Taunton Federal Credit Union ($215 million assets; 18,296 members; Taunton, MA), with steadily increasing assets and membership as well as an expanded footprint that has brought service to all of Bristol County, Massachusetts and the majority of Rhode Island.

/cloud

Hong Kong virtual bank WeLab is live with Temenos

Temenos, the banking software company, today announced that WeLab Bank, Hong Kong’s first homegrown virtual bank, has publicly launched using cloud-native Temenos Transact to provide a range of next generation digital services for customers to enjoy 24/7 from their mobile phones.

PeoplesBank launches digital-only bank

/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.

/retail

First Women's Bank picks Fiserv tech for launch

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced First Women’s Bank, a de novo institution in organization with a strategic focus on the women’s economy through small business lending and other financial services, has selected Fiserv to enable the bank’s launch in early 2021.

Curve taps Thought Machine for new credit product

/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.

/Core banking systems

GFT and Thought Machine forge partnership

GFT, a global IT services and software engineering provider driving the digital transformation of the world’s leading companies in financial services, insurance and manufacturing today announces a global strategic partnership with Thought Machine, the cloud native core banking technology firm.

/Core banking systems

Jordan Ahli Bank goes live with Temenos Infinity

Temenos (SIX: TEMN), the banking software company, today announced that Jordan Ahli Bank (“Ahli Bank”) has gone live with cloud-native Temenos Infinity to rapidly develop and deploy new digital and mobile banking experiences, helping it differentiate and drive customer growth in Jordan and the Middle East.

/startups

Italian challenger Flowe goes live with Temenos platform

Temenos (SIX: TEMN), the banking software company, today announced that Banca Mediolanum Group’s digital bank, Flowe, has gone live with Temenos Transact and Financial Crime Mitigation (FCM) delivered as SaaS.

/Core banking systems

Monese signs for Thought Machine's core banking package, Vault

Monese, the popular pan-European banking service that provides instant and localised mobile money accounts in 31 countries, today announces it will adopt Thought Machine’s cloud native core banking platform Vault.

NEC acquires Avaloq

/wealth

NEC acquires Avaloq

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

/people

Temenos appoints new US EVP

Temenos, the banking software company, today announced that Roger Klantschi has been appointed as Executive Vice President of Delivery, Americas, effective immediately.

/Core banking systems

First Independence Bank selects Finastra to replace legacy core

Finastra announced that First Independence Bank has selected its Fusion Phoenix core, Fusion Digital Banking, Fusion DepositPro and Fusion TotalTransact, as well as a number of other solutions, in order to provide its customers with a robust and fully digital banking experience.

/Core banking systems

Degroof Petercam to install Avaloq core engine

Degroof Petercam and Avaloq announce signing of agreement to implement Avaloq’s Software as a Service (SaaS) solution as Degroof Petercam’s new core banking system.

Alkami raises $140m

/cloud

Alkami raises $140m

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

/Core banking systems

CTCU ditches legacy core for Corelation aftre three-year search

After using the same core system for more than 40 years, Cooperative Teachers Credit Union (CTCU) ($114.2 million assets; 6,200 members; Tyler, TX) didn’t take their decision to switch to a new core processor lightly.

/people

Nymbus names Jeffery Kendall CEO

Nymbus, a leading provider of banking technology solutions, today announced the Board of Directors has appointed Jeffery Kendall to serve as the company’s Chief Executive Officer, effective October 1, 2020.

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