Outsourcing

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/Sibos

BNY Mellon expands trade finance services with KeyBank

BNY Mellon today announced a significant expansion of its existing trade finance processing services relationship with KeyBank by implementing an enhanced and updated model that will offer a more robust client experience for KeyBank’s trade finance clients, while aiming to increase the efficiency of service delivery.

/payments

LBBW extends equensWorldline Sepa agreement

equensWorldline, a subsidiary of Worldline [Euronext: WLN], European leader in the payments and transactional services industry, announces the early renewal of its service agreement by Landesbank Baden-Württemberg (LBBW).

Dissecting AI hype and FOMO

/ai

Dissecting AI hype and FOMO

While artificial intelligence is transforming several industries, the financial sector has a lot to learn from specific case studies in non-banking areas such as health, travel and retail. To start at the beginning, despite the term AI having been bandied about with a number of different definitions, the actual definition is simple: technology that appears intelligent.

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.

/Outsourcing

Central counterparites highlight best practices for third party risk management

Since the G20 mandate, the critically important role of central counterparties (CCPs) in the global financial marketplace has been subject to heightened focus.

/wholesale

INTL FCStone to buy outsourced trading firm Fillmore Advisors

INTL FCStone Inc. (NASDAQ: INTL) today announced that it has executed a sale and purchase agreement to acquire outsourced trading firm Fillmore Advisors. This news follows-on from the announcement that INTL launched a Prime Brokerage division in April of this year – with Fillmore Advisors now becoming an extension of that offering. This transaction, which is subject to regulatory approval, is effective on closing.

/Outsourcing

Norway's SpareBank 1 selects Nets for open banking

Norwegian bank group SpareBank 1 announces it has selected Nets to provide its open banking infrastructure.

/Outsourcing

BNP Paribas: Institutional investors increasingly looking to outsourcing

A BNP Paribas Securities Services survey of asset managers and asset owners, conducted in partnership with Sionic, found that 21% of institutional investors are considering outsourcing their dealing function in the next 18 to 24 months.

Raphaels Bank fined £1.89m for outsourcing failures

/regulation

Raphaels Bank fined £1.89m for outsourcing failures

The UK's Raphaels Bank has been fined £1.89 million for outsourcing failures which left thousands of customers unable to use their payment cards on Christmas Eve 2015.

FI CISOs to ask for bigger cybersecurity budgets

/security

FI CISOs to ask for bigger cybersecurity budgets

Nearly three quarters of chief information and security officers at financial institutions plan to ask their firms for an increase in cybersecurity investments in the next year, according to a survey.

/retail

Sparkasse Hannover expands Diebold Nixdorf contract

Diebold Nixdorf (NYSE: DBD) today announced it has extended an existing self-service fleet management contract with Sparkasse Hannover and significantly expanded its scope of services with the savings bank.

/security

ProfitStars introduces managed security services suite

Jack Henry & Associates, Inc. (NASDAQ:JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry.

Barclays champions 5G, predicts £15.7 billion boost to UK economy per year by 2025

/Outsourcing

Barclays champions 5G, predicts £15.7 billion boost to UK economy per year by 2025

A new Barclays Corporate Banking report published today reveals that 5G could increase UK business revenues by a staggering £15.7 billion by 2025, despite industry leaders admitting they do not know enough about the benefits of the technology.

/retail

Commonwealth Bank & Trust signs for Jack Henry SilverLake System

Jack Henry & Associates, Inc. (NASDAQ:JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its Jack Henry Banking division announced today that it has partnered with Louisville, Ky.-based Commonwealth Bank & Trust to provide the support, services, and efficiencies the bank needs after surpassing $1 billion in assets.

EBA harmonises outsourcing rules

/regulation

EBA harmonises outsourcing rules

The European Banking Authority (EBA) has revised its guidelines on outsourcing in an effort to help financial institutions apply a single framework for all their banking, investment and payment activities and services.

Santander strikes $700m IBM deal to support biz transformation programme

/retail

Santander strikes $700m IBM deal to support biz transformation programme

IBM continues to rack up the financial services contract wins, scoring a huge $700 million global deal with Banco Santander, as well as agreements with ICBC Argentina and the card unit of Hyundai and Kia Motors.

MAS proposes tighter rules on bank outsourcing

/regulation

MAS proposes tighter rules on bank outsourcing

The Monetary Authority of Singapore is consulting on new proposals to expand its regulatory oversight of bank outsourcing arrangements.

/Outsourcing

New York Community Bancorp boosts digital capabilities with Fiserv

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that New York Community Bancorp, Inc., (NYSE:NYCB), the parent company of New York Community Bank, a $51.2 billion in assets financial institution based in Westbury, New York, will advance its retail banking and commercial lending capabilities by converting to a modern, real-time core platform and integrated suite of digital banking and payment solutions from Fiserv.

/retail

Guilford Savings Bank signs with Jack Henry Banking

Jack Henry & Associates, Inc. (NASDAQ:JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its Jack Henry Banking® division announced today that it was selected by Connecticut-based Guilford Savings Bank to meet the bank’s aggressive growth goals with a digital focus and added efficiencies.

IBM scores $260m deal with Bank of the Philippine Islands

/Outsourcing

IBM scores $260m deal with Bank of the Philippine Islands

The Bank of the Philippine Islands (BPI) is looking to boost its digital transformation through a $260 million, multi-year services agreement with IBM.

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