Tagged: banking

May 10, 2022 @ 2:42 pm By Omar Faridi  |  

COMO, an international automated paytech, has chosen SAP Fioneer’s Cloud for Banking (C4B) application. This partnership will “allow COMO’s customers immediate access to rich core banking functionality, while enabling real-time payment transactions and reducing costs by up to 60% for corporates.” The C4B system and… Read More

May 9, 2022 @ 2:49 pm By Omar Faridi  |  

Flagstone, the United Kingdom’s Cash Deposit Platform, has announced the addition of two non-executive directors to its Board of Directors. The additions, designed to increase the depth of experience on the board, also “reflect the company’s commitment to ensure diversity of thought is encouraged across… Read More

May 6, 2022 @ 5:47 pm By Omar Faridi  |  

SaaScada, the Cloud native Core banking platform provider, recently announced it has secured £2.5 million in seed funding “from over ten investors – including leading figures from the banking and private investment sectors.” The SaaScada Cloud native platform “allows Fintechs and challenger banks to launch… Read More

May 4, 2022 @ 11:41 pm By Omar Faridi  |  

Simplii Financial has launched a new online and mobile banking feature for clients, “enabling recurring and future-dated Interac e-Transfer® transactions to be set up or scheduled up to five years into the future.” Vineet Malhotra, Head, Simplii Financial, stated: “Our clients have been asking for… Read More

May 3, 2022 @ 10:02 pm By Omar Faridi  |  

Open Financial Technologies has reportedly acquired $50 million in capital via a Series D funding round that was led by IIFL Finance. Existing investors Tiger Global, Temasek and 3one4 Capital have also made contributions to  Open Financial Technologies latest investment round. Neobanking platform Open Financial… Read More

May 1, 2022 @ 6:18 pm By Omar Faridi  |  

ICICI Bank (BSE: ICICIBANK, NYSE:IBN) announced that it has introduced India’s “first” comprehensive digital ecosystem for all MSMEs in the country, “including customers of other banks.” The ecosystem “has three pillars: i) enhanced banking services for existing customers, ii) a bouquet of banking services to… Read More

April 30, 2022 @ 1:03 pm By Omar Faridi  |  

JS Bank, a leading commercial bank operating in Pakistan, has enhanced its Core Banking platform with assistance from IT firm NdcTech (as the implementation partner for the upgraded system). This deployment is a key part of JS Bank’s overall strategy to rebuild its tech and… Read More

April 29, 2022 @ 8:14 am By Omar Faridi  |  

Varo Bank, N.A., which claims to be the first all-digital, nationally chartered bank in the US, has announced the appointment of Spencer Rascoff, Co-Founder and former CEO of Zillow to Varo’s Board of Directors. Rascoff joins Varo’s Board to continue “to scale Varo, a one-of-a-kind… Read More

April 28, 2022 @ 10:36 pm By Omar Faridi  |  

Klarna, a global retail bank, payments, and shopping service, announced its expanded partnership with cross-border e-commerce provider Global-e (Nasdaq: GLBE). Via this partnership, merchants selling to Canada through Global-e’s cross-border e-commerce platform, “including notable brands such as Reformation, SKIMS, Fenty Beauty, Rimowa, Versace, Marc Jacobs,… Read More

April 28, 2022 @ 2:50 pm By Omar Faridi  |  

Jack Henry & Associates, Inc. (NASDAQ:JKHY) announced that North Jersey Federal Credit Union (NJFCU) selected Symitar in order “to host its core in the Jack Henry private cloud and help enable its new technology strategy.” One of the key drivers of the core conversion was… Read More

April 28, 2022 @ 8:25 am By Omar Faridi  |  

Over 8 million current accounts have reportedly been switched since a service making it a lot easier for clients to swap their banks or building society was introduced. The Current Account Switch Service (Cass) was introduced back in 2013 in order to remove all the… Read More

April 27, 2022 @ 4:56 pm By JD Alois  |  

LendingClub (NYSE:LC) a digital bank with a focus on providing consumer snd commercial credit, has reported Q1 2022 earnings. According to the Fintech, revenue was reported at $289.5 million growing 174% year-over-year. Loan originations grew by 117%. Net income came in at $40.8 million compared… Read More

April 27, 2022 @ 2:07 pm By Omar Faridi  |  

Personetics, which claims to be the leading provider of financial data-driven personalization, customer engagement, and advanced money management capabilities for financial institutions, recently announced the launch of Sustainability Insights. This offering, included within the Personetics engagement platform, will help banking institutions meet growing customer demand… Read More

April 26, 2022 @ 8:11 pm By Omar Faridi  |  

The Federal Court in Australia has reportedly ordered Westpac to pay penalties in the amount of $113 million “for widespread compliance failures across multiple businesses, including Westpac’s banking, superannuation, wealth management and insurance brands.” Justice Beach recently handed down his decision “in the last of… Read More

April 26, 2022 @ 1:27 am By Omar Faridi  |  

Retail banks are currently “lagging” in their ability to offer “true” omnichannel experiences, as customers pivot to competitors that “offer more personalized experiences.” This, according to the latest World Retail Banking Report 2022 (WRBR) released by Capgemini and Efma. As noted in the update, 75%… Read More

April 25, 2022 @ 10:32 pm By Omar Faridi  |  

WeLab Bank, the virtual bank dedicated to “curating intelligent banking experience,” has reportedly become the “first” digital bank in Hong Kong licensed “to offer digital wealth advisory services.” Having obtained the Type 1 (Dealing in securities) and Type 4 (Advising on securities) licenses from the… Read More

April 24, 2022 @ 4:43 pm By Omar Faridi  |  

Tintra PLC, the Regtech firm building a global, borderless banking infrastructure to democratize payments for emerging markets, recently announced share issue details of the “latest receipt of a $2 million private funding round, valuing the company, in the private market at least, at $100 million,… Read More

April 24, 2022 @ 2:37 pm By Omar Faridi  |  

Evolve Bank & Trust and Bond Financial Technologies, Inc. are pushing the boundaries of embedded finance “to bring innovation to companies that want to offer financial products to their customers.” Evolve and Bond enable entrepreneurs “to build and launch innovative financial solutions at scale.” Hank… Read More

April 24, 2022 @ 9:34 am By Omar Faridi  |  

Dreams, the financial wellbeing platform and “leader” in engagement banking solutions, recently announced the appointment of Russell Prince-Wright, Jason Curtis and Peter Hedlund, to join Dreams’ senior management team “as Regional Directors and drive the company’s B2B expansion.” Collectively, Russell, Jason and Peter “bring more… Read More

April 22, 2022 @ 9:47 am By Omar Faridi  |  

Neobank MyInvestor has reportedly reached €2 billion in volume, which “doubles the 1 billion euros registered in March 2021, consolidating its position as the largest Spanish fintech by volume.” Now serving more than 110,000 customers, MyInvestor also has “an investment balance (funds, plans and portfolios)… Read More