IBSI Announces Subscription Flexibility !
IBS Journal now starts at £9 per issue, and custom Reports at 40% off
READ MORE
Market News
IBS Intelligence has been keeping its finger firmly on the pulse of the global banking and financial services technology industry for over 25 years. We cover what is really going on – the good, the bad, the lessons, the mistakes and the masterstrokes. Our journalists regularly talk to banks and financial institutions about their projects, experiences and strategies; we drill down into the activities and plans of the suppliers; and we ensure that our readers are kept fully informed on all the latest news, developments and trends across the fintech space worldwide. Every word is written by our journalists, with no advertorial or marketing hype.
In addition to all the latest stories, the Market News section has an extensive archive of articles dating back to 2010.
10 years since the great banking crisis of 2008, Brits still distrust major banks, and don’t think they’re punished severely enough. 66% of adults in Britain have little to no faith that banks are working to the best interests of their customers. The poll of 2,250 adults by YouGov on behalf of campaign group Positive Money has demonstrated how banks still leave a lot to be desired in the...Read More
According to a Reuters report, Amazon is sounding out some of Europe’s top insurance firms to find out if they would contribute products to a UK price comparison website. This would be a major step by the US online retail giant into the region’s financial services market and one which has been much feared. Three industry executives told Reuters they had held talks with Amazon about the possible launch of...Read More
Fosun and Fosun Hani Securities Limited have announced a strategic investment of $5 million into Israeli fintech company The Floor. This marks Fosun’s second fintech investment in the State of Israel, and Fosun will join the Board of Directors of The Floor. The Floor is headquartered at the Tel Aviv Stock Exchange (TASE) and operates a branch in Hong Kong. Founded in 2016, The Floor’s long term vision is...Read More
The U.S. Court of Appeals for the Federal Circuit reversed the decision issued by the International Trade Commission (ITC) against Diebold Nixdorf in a patent dispute against Nautilus Hyosung. The Federal Circuit agreed with Diebold Nixdorf that Hyosung’s sole remaining patent in its case against the company is “invalid and unenforceable”. The patent found to be invalid, U.S. Patent No. 8,523,235, relates to certain automated teller machines (ATMs) with...Read More
Bittrex will act as the preferred digital asset exchange for Ripple’s xRapid transactions in USD. In addition, Bitso and Coins.ph will be preferred for Mexican Pesos and Philippine Pesos, respectively. “Bittrex is one of the biggest names in digital asset trading in the U.S. The same goes for Bitso in Mexico and Coins.ph in the Philippines. That makes today’s announcement an important development for xRapid,” said Cory Johnson, Chief...Read More
Industrial Bank, one of China’s largest banking groups with total assets of CNY 6.09 trillion, has selected Avaloq to provide a comprehensive front-to-back banking solution for its Hong Kong Branch private banking business. In conjunction with Avaloq’s premium implementation partner Orbium, the Avaloq Banking Suite was implemented in just six months. The solution is already live and will allow Industrial Bank Co., Ltd Hong Kong Branch to provide its...Read More
Path Solutions, a provider of Islamic banking software systems has topped IBS Islamic Sales League Table (ISLT) 2018. This marks the sixth consecutive year, nine times in total in which Path Solutions holds on again to the No. 1 spot on this iconic international list. IBS Intelligence has unveiled that not only Path Solutions has been recognised as a winner in its primary line of business, being the vendor...Read More
RBS’ annual Disrupt conference is today (Thursday 16 August) welcoming a range of world-leading tech pioneers, including the founder of the world wide web, Sir Tim Berners-Lee, to Edinburgh to discuss how technological innovation can be harnessed to address social needs. The event, now in its second year and dubbed Disrupt 2.0, will hear from an expert at a company breaking new ground in advanced life-like AI, the CEO...Read More
UK tech firm CreditLadder is one of three Fintech companies to win through to the final of HM Treasury’s Rent Recognition Challenge (RRC), announced by Chancellor Philip Hammond in his Autumn budget statement. The RRC was launched to help develop applications that will help renters boost their credit scores, improve their creditworthiness and their chances of getting on the housing ladder. CreditLadder already offers its services to thousands of...Read More
Axoni, has completed a $32 million Series B financing round led by Goldman Sachs and Nyca Partners, bringing the firm’s total funding to date above $55 million. The financing round also included participation from Andreessen Horowitz, Citi, Coatue Management, Digital Currency Group, F-Prime Capital, Franklin Templeton Investments, J.P. Morgan, NEX Group, Wells Fargo, and Y Combinator. Axoni will use the latest round of financing to enhance its data synchronization...Read More
ONPEX a provider of multi-currency IBAN solutions has launched its cloud-based Banking-as-a-Service. The platform offers multiple tools such as IBAN issuing, Single Euro Payments Area (SEPA) and cross-border payments, as well as multi-currency management. Given the platform’s capabilities, businesses can build, configure and manage their own financial services. ONPEX recognised a gap in the current product offering of traditional banks and other payment service providers (PSPs). These traditional players...Read More
Open banking firm Deposit Solutions has announced the closing of a $100 million funding round today. The round was led by private equity firm Vitruvian Partners. Vitruvian was joined by Kinnevik and existing shareholders including Deposit Solutions’ first institutional shareholder e.ventures. It values the company at $500 million. Dr. Tim Sievers, CEO and founder of Deposit Solutions said: “We are delighted to welcome Vitruvian and Kinnevik as new shareholders....Read More
Intapp, has announced the acquisition of DealCloud, a firm which specialises in CRM and deal management for investment banking and private equity firms. DealCloud’s previous investors include FINTOP Capital, Hamilton Lane and Cultivation Capital. This new acquisition continues Intapp’s mission to create “a vertical industry platform for the professional services sector”. DealCloud will strengthen Intapp’s financial services presence. Together, Intapp and DealCloud’s offerings will provide “a comprehensive, cloud-based client life...Read More
Scotiabank has reached an agreement to acquire Banco Dominicano del Progreso, a bank with operations in the Dominican Republic. Scotiabank’s common equity tier one capital ratio will be impacted by approximately 10 basis points. The transaction is not financially material to Scotiabank. This move reinforces the Bank’s commitment to gain greater scale in economically stable markets with strong growth prospects and should help boost profitability even further over the...Read More
Technology continues to drive innovation in the commercial payments sector, according to a recent survey of finance and treasury professionals conducted by TD Bank. Real-time payments is leading change, as nearly half of respondents (42 percent) cited integration of these capabilities within online banking as the technological innovation that will have the greatest positive impact on the industry over the next three to five years. Payments professionals also predict...Read More
