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Under new norms, Indians can transfer money from one mobile wallet to another thus eliminating the need for customers to manage accounts on multiple platforms. The Reserve Bank of...

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Refinitiv, formerly the Financial and Risk business of Thomson Reuters, has announced that its financial and markets data will be integrated in Microsoft applications and services, including Microsoft Excel,...

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Fintech investments on the rise, sub-sectors such as blockchain attracting record levels of investor interest and artificial intelligence gaining traction. It’s all pointing to a great year for digital...

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Zenmonics has accepted a minority investment from FIS. The agreement represents the “natural evolution” of a “long and successful partnership” between the two companies. The investment enables Zenmonics to...

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The Financial Stability Board (FSB) has published a new report titled: “Crypto-asset markets: Potential channels for future financial stability implications”. The report sets out the analysis behind the FSB’s...

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CQG has announced a new partnership with Nasdaq Fixed Income (NFI). Under the agreement, NFI will provide the web-based CQG Desktop platform to NFI customers as the official front-end...

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The Abu Dhabi Securities Exchange (ADX) has launched its new integrated digital platform, ‘Sahmi’ which provides digital services for individual investors. Sahmi aims to manage investor relations by automating investors...

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Fiserv and DadeSystems announced today that they will collaborate to provide financial institutions with the capabilities and confidence needed to automate accounts receivables processing for businesses, with Fiserv serving as...

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World Bank Group’s International Financial Corporation (IFC) and Ant Financial have committed to take 10,000 fintech trainees under their wing for inclusion in emerging markets. The 10×1000 Tech, a...

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Murex’s MX.3 platform has been selected to support Al Rajhi bank’s evolving Islamic finance activities and to meet the demands of local and international regulators. With new regulatory demands,...

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UniCredit Bank Hungary and Alipay have signed an agreement, the first in the country, making the latter’s payment services available to Chinese visitors coming to Hungary from 2019. According...

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Bank of Beirut has implemented Wolters Kluwer’s OneSumX to provide its software for managing International Financial Reporting Standard (IFRS) 9. The implementation of the software is part of the...

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Blockchain banking firm BABB has successfully completed its equity crowdfunding through Crowdcube, raising more than £1,400,000 from 1,232 investors. The funds will be used to support BABB’s applications for...

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The cost of AML compliance across U.S. financial services firms equaled $25.3 billion per year, based on survey responses to a LexisNexis survey. The report shows that smaller firms...

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Walmart and PayPal are teaming up to provide financial services and products to customers via a cash in, cash out service. The service features an exclusive fee of $3...

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BNP Paribas has selected Earthport, charging it with providing ACH cross-border payment services. Damien Godderis, Head of Payment Networks – Payments and Receivables Cash Management, at BNP Paribas, said:...

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Santander has gone live on SWIFT’s global payments innovation (gpi) service in Spain, the UK, Argentina and Poland. The bank also plans to go live in Chile and Mexico...

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IBSVIEW

How does one present the best-fit solution for a Bank in the most effective manner? How does one ensure that the selection process is made objective, transparent and focused? CedarIBS has conducted several Core Banking Selection and implementation exercises. Based on our experience, we present 10 steps for effective selection of Core Banking systems.

So what does a typical core banking implementation typically entail? What does it take for a program to be successful – or at least ensure that the most common mistakes and pitfalls are avoided? Where do implementations tend to go wrong and how does one pre-empt it? While the questions and answers may be quite unending, this article looks to identify the seven phases of a typical core banking transformation

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Building a digital strategy for a bank is not just about getting the mobile banking app going or rolling out a marketing campaign. The true success in building a digital bank is in the ability to have the right proposition for the customer, building internal capabilities that can help in delivering the right digital experience – ensuring the transformation is embraced both internally and externally

IT outsourcing and offshoring is imperative for organizations due to rapid changes in technology, diverse skill requirements and the scale of teams required to deliver large programs. The business case for IT outsourcing has moved far beyond just labor arbitrage. Businesses can no longer hope to deliver all the required services in-house. We look at the factors that are likely to drive the next wave of adoption of IT outsourcing, business process outsourcing and shared services

While bank performances tend to get typically measured by the growth of asset book or net profit, a holistic assessment of the bank’s performance needs to be based on measuring both, financial and non-financial performance – which is the true essence of a Balanced Scorecard

Why do IT projects tend to face difficulties through its implementation life cycle? Is it because it is too technical? Is it because we don’t have the right people? Is it because the solution itself is not what a company should be looking at in the first place? It is important to define the foremost objective from a return of investment standpoint. The article analyzes the various determining factors that govern a serious IT investment

It is estimated that over 60% of technology transformation projects fail to meet budgets or timelines. Good program management is an integral part of a successful transformation, and this is not an area that banks can afford to ignore. After all, there are projects that are always ongoing, and each one of them has a cost and a benefit embedded. So what are the five key tenets of a successful program management framework?

What are the priorities for CIOs and CTOs these days? What are the technologies to invest in today and what are the ones to keep an eye on for the future? What do new buzzwords like cloud, digital, analytics, mobility and big data mean to the new banking technology architecture and where is the impact mostly felt?

Across the globe, banks and financial institutions tend to focus much of their energy on selecting multiple service or solution providers, and these selection processes are governed largely by two important principles: the degree of detail required in the solution/service that is being procured and the timeframe in which the selection needs to be accomplished. A bank’s choice of vendor typically falls into one of four models, and the article looks at these models in greater detail

Good management is about 90% planning and 10% execution. As they say, if you fail to plan, you are planning to fail. A plan to be implementable has to be both comprehensive and comprehensible

A bank’s IT strategy is only as good as its implementation and adoption, a case of designing a good IT roadmap aligned to the strategy, but also a direct result of how disciplined the bank is in implementing its day-to-day functions. Laid out here are four simple steps, the approach to defining and adopting an IT scorecard for the bank, to help drive best-in class IT strategy

The life cycle of the core banking system platform consists of two distinct phases – implementation and post implementation.  The operating model of Core Banking CoE needs to adapt to the unique challenges at each stage of the life cycle of the platform.  This article highlights the best practices for core banking system implementation at each phase

Technology serves as a critical backbone for running of an established enterprise, be it front end operations, planning and forecasting, inventory control or just the back office functions of Financials and HR.  Yet, deciding on the right IT infrastructure for the organization is a challenge for IT managers, for neither an over-sized, under-utilized application, nor a misfit system that does not meet basic requirements of business is welcome. So how does one go about getting the right IT fitment?

The greatest effort in change management is in comprehending the change itself. We deal with change within an organization at three levels, based on the context and impact that it trends to create. This is reflected by the depth of change it brings in the organization, the time-span that this change tends to be absorbed across the enterprise, and the effort it takes to bring in this change. The article looks at these three levels in more detail

Organizations invest significant effort in selecting technology systems that meet the functional, technical and financial criteria. However, since most systems need to be customized to specific requirements of the organization, the effectiveness of requirement definition is a critical determinant of a successful system roll-out. This article describes an approach for ensuring that requirement specifications accurately reflect expectations of end-users

While the selection of a core banking system is a science in itself, it would be only fair to say selecting an Islamic core banking platform is a shade more complex – both from the standpoint of defining the expectations clearly, and making the right choice of an application that best meets the requirement. How does one go about determining the best fit solution for the bank?

The first rule for successful technology transformation is understanding the need for change. The biggest challenge in change management is in comprehending the change itself. While people are expected to resist change, in most circumstances, the reality is that the quantum and quality of large technology transformations is not fully appreciated till the enormity daunts – and that is usually much later, after embarking on the journey. The article dwelves into the 4 tenets that are imperative for successful transformation

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