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News/Transaction banking
UK challenger bank OakNorth is reporting $10.6 million in profit in its second year of operation, moving into the black from a £2.4 million loss in 2016.
21 March 2018
Welcome to Finextra's live coverage of the Swift Business Forum Canada 2018 in Toronto. This event will focus on important issues affecting the financial industry, exploring how far, and how fast, the transformation of financial services will take place in Canada and beyond.
Belgium-based KBC Bank has launched an online platform where its business clients can network with thousands of other companies from around the world.
09 March 2018
Banking co-operative Swift has published the final results from its DLT proof of concept for Nostro reconciliation. While the PoC proved a resounding success, just don't expect a working solution anytime soon.
08 March 2018
Innovations in technology and practitioner insights into payment trends will top the agenda at EBAday 2018, Europe's leading payments and transaction banking conference, which is being staged this year at the ICM-Internationales Congress Centre in Munich.
02 March 2018
Credit Suisse and ING have executed a live collateral swap with full legal exchange of contracts and settlement taking place over R3's Corda blockchain platform.
01 March 2018
Germany's Degussa Bank is to use a white-labeled direct API-based connection to local fintech startup Giromatch to provide clients with faster loan decisions and flexible re-payment terms.
21 February 2018
Marco Polo, a blockchain-based platform for open-account trade finance created by TradeIX and R3 in collaboration with leading global banks, is to move into a live pilot phase following a successful six month proof of concept.
Citi Ventures and PNC have made strategic investments in business-to-business payments and receivables software provider HighRadius. Terms were not disclosed.
15 February 2018
ABN Amro Clearing services is to offer a blockchain-based alternative to escrow accounts for money-management organisations that need to segregate and lock up client funds during the course of a transaction.
Cross-border payments network Earthport is betting on a market upturn driven by distributed ledger technology after reporting a doubling of losses for the six month period ended 31 December 2017.
ION Investment group is to acquire Openlink Financial, continuing a treasury management investment buying spree which has seen it swallow up IT2, Financial Software Systems and Wall Street Systems.
05 February 2018
Bank of America Merrill Lynch has partnered with PayPal to enable business clients to make cross-border payments in local currencies with just an e-mail identifier.
01 February 2018
Finastra has acquired Geneva-based eFX supplier Olfa Soft to capitalise on an ongoing shift to automated machine-to-machine electronic trading in currency markets.
30 January 2018
Having successfully tested the use of blockchain technology in oil trading last year, ABN Amro, ING and SocGen have completed a first agricultural commodity trade using their Easy Trading Connect prototype.
22 January 2018
Standard Chartered has created a new business unit, SC Ventures, to invest in promising fintech startups and accelerate innovation initiatives across the group.
17 January 2018
Banking cooperative Swift has signed an MoU with seven central securities depositaries (CSDs) to explore how distributed ledger technology (DLT) can be used to improve post-trade processes such as corporate actions, proxy voting and trade processing.
16 January 2018
The largest commercial bank in Russia, Alfa Bank, is developing a new digital cash service where all transactions will be transmitted and cleared via the blockchain.
15 January 2018
The industry body set up to promote the fintech sector in Scotland has named Stephen Ingledew as its first chief executive.
12 January 2018
As Finextra pulls the shutters down on 2017, we take a look back at our most popular news stories, videos, and community engagement activities over the course of the past year. The site will re-open for business on 2 January 2018.
22 December 2017
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