Market News

Barclays is seeing its top executive Jes Staley facing a fine for an alleged breach of conduct he attempted to identify a whistleblower in 2016. The Financial Conduct Authority and Prudential Regulation Authority (PRA) claim this relates to a “requirement to act with due skill, care and diligence”. The bank says that regulators are not alleging that he acted with a lack of integrity or that he lacks fitness and propriety...Read More

A new report from Accenture has found that many banks have not invested in the capabilities to verify the validity and accuracy of their data. According to the report, Banking Technology Vision 2018, banks have always held a large volume of confidential data and are increasingly adding data from external, unstructured sources. However, while more than nine in 10 (94%) of the bankers surveyed said they are confident in...Read More

HSBC, Europe’s biggest bank, has today confirmed that it will no  longer provide project finance for new tar sands projects including the construction of any tar sands pipelines. This policy would exclude HSBC from providing project financing for the Keystone XL and Line 3 Expansion pipelines. HSBC also stated that its overall exposure to tar sands will reduce over time. HSBC’s move, disclosed in its new Energy Policy, is the...Read More

SC Lowy, an international banking and finance group specialised in fixed income, has acquired the remaining stake in Choeun Savings Bank in South Korea from Yuil PE, a private equity fund specialised in corporate restructuring buyout deals. The acquisition increases SC Lowy’s ownership of Choeun Savings Bank to 99.8% and represents a successful exit for Yuil, which initially co-invested alongside SC Lowy in October 2013. “The investment for the...Read More

nCino, the worldwide leader in cloud banking, today announced that it is collaborating with VASCO, a global leader in digital solutions including identity, security and business productivity, to integrate the eSignLive electronic signature solution into its Bank Operating System. “By incorporating new levels of automation into our product through key integrations like eSignLive, financial institutions can quickly increase loan volume and remove unnecessary manual work from their processes,” said...Read More

Fiserv, a global provider of financial services technology solutions, today announced SISCOOP, a cooperative providing services to credit unions in Mexico, will enable 26 credit unions to offer digital banking services using Fiserv technology. This landmark step marks the first time credit union members in Mexico will be able to access credit union services via digital platforms. SISCOOP will utilize DigitalAccess from Fiserv to enable these credit unions, including one of...Read More

A new report from Accenture (NYSE: ACN) has found that many banks have not invested in the capabilities to verify the validity and accuracy of their data. According to the report, Banking Technology Vision 2018, banks have always held a large volume of confidential data and are increasingly adding data from external, unstructured sources. However, while more than nine in 10 (94 percent) of the bankers surveyed said they...Read More

Continuing its leadership in the global movement toward real-time payments, global financial technology provider FIS announced today that it has leveraged its Open Payment Framework (OPF) to connect three leading Australian financial institutions to the country’s New Payments Platform (NPP). The NPP was cooperatively developed by Australian financial institutions to (more…)This content is restricted to site members. If you are an existing user, please log in. New users may...Read More

Checkout.com is the first payment solutions provider (PSP) to accept payments via mada, Saudi Arabia’s domestic payment network. The partnership will enable all mada cardholders and merchants to complete transactions online. With over one billion transactions routed through the mada network every year, this is expected to fuel e-commerce growth (more…)This content is restricted to site members. If you are an existing user, please log in. New users may...Read More

Temenos, the banking software company, announces that the audience of Innovation Jam London has voted Callsign the winner of the regional competition. The fintech was one of 10 contestants to showcase their solution to an audience of banking and technology leaders. Callsign will join the winners from the seven other regional heats for the final competition at the Temenos Community Forum, being held May 22-24. There they will have...Read More

CDC Group, the UK’s development finance institution, and Standard Chartered Bank have today announced the signing of a memorandum of understanding for a supply chain finance programme that will increase financing for SME suppliers in Africa and South Asia, thereby boosting economic growth and trade opportunities. The first countries to benefit from this scheme are expected to be Nigeria, Uganda, Ghana and Kenya. SMEs in the supply chains of...Read More

Mechanics Cooperative Bank has selected the Fusion Phoenix core banking system from Finastra, as well as a full suite of ancillary offerings, to provide its new technology foundation. The solution will bring together a wide-range of proven, specialized software into a single environment that is more easily managed in the (more…)This content is restricted to site members. If you are an existing user, please log in. New users may...Read More

AvidXchange, a fintech provider of accounts payable and payment automation for midsize companies, is pleased to announce that Dan Drees has joined the company as Chief Growth Officer, a new role created to facilitate ambitious and exciting growth. The Chief Growth Officer will have direct responsibility for the strategic direction, leadership and mentorship of the go-to-market organization on a worldwide basis. “The current team has done a fabulous job...Read More

Swedish fintech Tink today launches their API platform, granting developers in companies of all sizes, across any sector, access to Tink’s technology. This will allow developers to use Tink’s Account Aggregation and Categorisation products via a self-serving platform, empowering them to quickly build and launch customer centric products for their end users. While PSD2 will be taking full effect in the next 18 months, Tink already aggregates beyond PSD2...Read More

MFS Africa, a leading Pan-African FinTech company, today announced a $4.5m Series B funding round led by LUN Partners Group, a China-based global investment management group. Goodwell Investments, an Amsterdam based investment firm focused on financial inclusion, fintech and inclusive growth, as well as several angel investors completed the round. MFS Africa is the first African FinTech to receive funding from a China-based global investment management group. The investment...Read More