Outsourcing

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Lifetri selects Caceis for outsourcing asset management middle and back office

The Dutch insurer Lifetri Group has selected Caceis for the outsourcing of the middle and back office of its asset management organisation.

/retail

Blackstone bids to take controlling interest in Mphasis

Blackstone (NYSE:BX) today announced that private equity funds managed by Blackstone have entered into definitive agreements to acquire a majority stake in Mphasis Limited (NSE: MPHASIS).

The Floor appoints former Citi exec Attar CTO

/people

The Floor appoints former Citi exec Attar CTO

The Floor, an Israeli AI-powered vendor management outfit for banks, has appointed former Citi executive Tsafrir Attar as chief technology officer.

/Outsourcing

M&G outsources middle office to State Street

State Street Corporation (NYSE: STT) today announced that it has been appointed by M&G Corporate Services Limited, part of M&G plc, (M&G) to provide outsourced middle office services.

/retail

Nationwide renews with TCS

Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, announced that it has renewed its strategic partnership and services footprint with Nationwide Building Society, the world’s largest building society and one of the largest savings and mortgage providers in the UK, to help strengthen the latter’s enterprise agility and operational resilience.

/regulation

DKB selects BearingPoint RegTech Factory and Abacus360 for regulatory reporting

Deutsche Kreditbank AG (DKB) will use the full-service offering of BearingPoint RegTech to meet its regulatory reporting requirements.

/wealth

SocGen Private Bank outsources international back office IT to Azqore

In a constant drive to improve the quality of service and user experience, Societe Generale signs with Azqore, a subsidiary of Indosuez Wealth Management, an agreement related to the execution of back-office operations and a large part of the IT services of Societe Generale Private Banking's international entities.

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

/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.

/regulation

BearingPoint unveils 'RegTech Factory'

BearingPoint RegTech, a leading international provider of innovative supervisory, regulatory and risk technology solutions (SupTech, RegTech and RiskTech), has launched an outsourcing solution for regulatory reporting that will diminish the cost of compliance for institutions.

TCS acquires 1500 employees from Prudential subsidiary to staff new tech centre in Ireland

/people

TCS acquires 1500 employees from Prudential subsidiary to staff new tech centre in Ireland

Tata Consultancy Services is to acquire the staff and select assets of Prudential's Irish IT subsidiary Pramerica Systems Ireland.

FSB highlights risks arising from bank outsourcing and third party relationships

/regulation

FSB highlights risks arising from bank outsourcing and third party relationships

The Financial Stability Board is attempting to develop a co-ordinated regulatory approach to the risks arising from bank outsourcing and third party relationships.

WEF executive: Traditional finance business model no longer working

/devops

WEF executive: Traditional finance business model no longer working

Simon Torrance, senior adviser at corporate innovation firm, Rainmaking, claims that the traditional financial services business model is no longer working.

/regulation

Rabobank clocks in to BearingPoint RegTech Factory

Cooperative Rabobank U.A. (Rabobank), a large bank in the Netherlands, has decided on outsourcing parts of their regulatory reporting processes to BearingPoint RegTech.

/Outsourcing

State Street and SimCorp form business partnership

State Street Corporation (NYSE: STT) and investment management solutions and service provider, SimCorp (OMXC25: SIM), today announced their intent to form a business partnership to provide a premier, fully integrated, front-to-back investment outsourcing solution for insurance firms in Europe, Middle East and Africa (EMEA).

Sibos 2020: What percentage of cross-border payments could be made in CBDCs?

/crypto

Sibos 2020: What percentage of cross-border payments could be made in CBDCs?

Delegates discussing central bank digital currencies (CBDCs) at Sibos 2020 agree that there is a long road ahead for global mass adoption to facilitate cross-border payments.

/retail

Digital credit platform in fundraising effort

Collaborative financing platform mozzeno raised € 3,000,000 from its existing and new shareholders.

/markets

KGAL outsources fund administration to Caceis

CACEIS Fonds Service GmbH took over the fund accounting for 16 closed-end special funds from KGAL Group (KGAL).

Metro taps Wipro for IT transformation

/retail

Metro taps Wipro for IT transformation

The UK's Metro Bank has inked a multi-year contract with Indian IT services giant Wipro to deliver and transform testing and environment management services.

/people

Etrading expands managed service offering

Etrading Software, the independent, global provider of technology-led solutions designed for financial institutions and industry initiatives, has today announced three new hires in its London office, as well as a new operational layer in Asia.

/wealth

Allfunds launches B2B sub-advisory platform

Allfunds, the leading independent wealthtech and fund distribution platform, has announced plans to launch an investment outsourcing and sub-advisory B2B solutions platform for banks, wealth managers and institutional investors. This new platform branded “Allfunds Investment Solutions” will be rolled out as of Q3.

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