Finextra Research: Latest fintech news, analysis, interviews, features and opinion by industry experts

Ulster Bank fined EUR3.5 million over IT meltdown

The Central Bank of Ireland has slapped a EUR3.5 million fine on Ulster Bank over IT governance failures that resulted in approximately 600,000 customers being deprived of banking services during a month-long period in 2012.

12 November 2014

News/Outsourcing

Capita wins Co-operative Bank mortgage contract

Capita has emerged as the preferred bidder for a 10-year, £325 million contract to run the mortgage book of the UK's Co-operative Bank.

11 November 2014

Company update/Outsourcing

Sparkasse Bremen renews outsourcing contract with Wincor Nixdorf Portavis

Wincor Nixdorf Portavis’s contract as IT outsourcing partner of Sparkasse Bremen is to be renewed for a further five years starting October 1, 2015.

23 October 2014

Company update/Outsourcing

Tieto wins EnterCard outsourcing contract extension

Nordic financial services company EnterCard extends its existing outsourcing agreement with Tieto.

16 October 2014

Company update/Outsourcing

Belgian Post outsources ATM management to Diebold

Belgian Post (bpost), the leading postal operator in Belgium, has implemented multi-vendor software from Diebold, Incorporated (DBD) across its network of 450 heterogeneous automated teller machines (ATMs).

30 September 2014

Company update/Outsourcing

Punjab National Bank inks five-year outsourcing deal with Aegis

Aegis Limited, a global outsourcing and technology services company, announced today that it signed a 5-year contract with Punjab National Bank (PNB), one of the largest nationalized banks in India with over 6,000 branches and a legacy of over 120 years.

30 September 2014

Company update/Outsourcing

SGSS launches outsourced wealth management platform in UK

Societe Generale Securities Services (SGSS) has launched a fully integrated Wealth and Investment Management outsourcing solution for the UK.

30 September 2014

News/Outsourcing

De La Rue named preferred bidder for BofE plastic banknote contract

As it prepares to move to plastic banknotes, the Bank of England has named De La Rue as the preferred bidder for a 10-year printing contract.

08 September 2014

Company update/Outsourcing

Cardtronics scores Co-op Food ATM operating deal

Cardtronics (CATM) today announced that its U.K.-based business is entering into a seven-year, exclusive agreement to operate approximately 1,800 ATMs located in Co-operative Food ("Co-op Food") stores across the U.K. Cardtronics will take on the operation of the ATMs no later than January 2016, upon expiration of the existing ATM contract.

02 September 2014

Company update/Outsourcing

Diligenta scores Friends Life contract

Diligenta, a leading Life and Pensions BPO provider in the UK, and a subsidiary of Tata Consultancy Services (TCS), the leading IT services, consulting and business solutions organization, today announced that it has secured a new multi-million pound, multi-year contract with Friends Life Management Services Limited (Friends Life) for its international operation.

19 August 2014

News/Outsourcing

London Stock Exchange partners Wipro to launch reconciliation utility

The London Stock Exchange has partnered with Indian IT services firm Wipro to launch a hosted reconciliation utility designed to eliminate the needs for firms to invest in technology, people and processes for tracking their outstanding transactions.

09 July 2014

News/Outsourcing

As cyber threat grows, EU regulators warn FS firms on IT budgets

Europe's financial institutions have been told by regulators that they must protect their IT budgets in order to guard against the growing threat of cyber attacks.

03 April 2014

News/Outsourcing

UBS to outsource fixed income platform to Murex and ION - Reuters

Swiss bank UBS is to outsource large parts of its fixed income technology infrastructure to Murex and ION, according to Reuters.

20 January 2014

News/Outsourcing

BBVA Compass to cut 600 jobs in outsourcing pact

BBVA Compass is to cut up to 600 jobs in the US after agreeing outsourcing deals with Xerox and Accenture.

10 January 2014

News/Outsourcing

IBM takes control of $1.3 billion ADTS business

IBM has taken a controlling stake in Associated Dexia Technology Services, which provides IT services to financial institutions formerly within the Dexia Group, including Belfius Bank, Belfius Insurance and Banque Internationale à Luxembourg.

09 December 2013

News/Outsourcing

Standard Chartered client bank statements found on hacker's laptop

The private banking statements of 647 high-net-worth clients of Standard Chartered Bank have been found on the laptop of a hacker busted by Singapore Police.

06 December 2013

News/Outsourcing

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.

19 November 2013

News/Outsourcing

Markit acquires DTCC corporate actions validation service

Financial data outfit Markit has acquired the assets of Global Corporate Actions Validation Service from the Depository Trust & Clearing Corporation (DTCC). Financial terms of the deal were not disclosed.

17 June 2013

News/Outsourcing

Deutsche Bank buys Xchanging out of JV

London-based back office processing provider Xchanging has agreed to sell its 51% stake in Xchanging Transaction Bank (XTB) back to partner Deutsche Bank for EUR40.5 million in cash.

15 May 2013

News/Outsourcing

LME terminates lucrative Xchanging contract

Xchanging has lost a £25 million per annum infrastructure servicing contract with the London Metal Exchange as the LME's new owners call time on a profitable eight-year relationship for the BPO provider.

30 April 2013