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VTB applies for UK banking licence, selects core banking system

VTB Tower, Moscow

EXCLUSIVE: Russia’s second largest banking group, VTB, is looking to launch a retail banking business in the UK, Banking Technology understands. The bank has applied for a UK banking licence, to enable it to take retail deposits.

Top fintech stories this week – 8 September 2017

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Catch up on Banking Technology’s top five fintech stories of the week – all in one place!

Mambu’s core banking tech supports challenger bank N26

N26 runs on Mambu's core banking tech

Mambu has gone on the record about its core banking software project at N26, a German-based challenger bank. N26 is using Mambu’s flagship core system, provided on a Software-as-a-Service (SaaS) basis.

Abcul halts credit union migration to new core platform

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EXCLUSIVE: UK-based Association of British Credit Unions (Abcul) has suspended its plans to migrate its member credit unions onto its new tech platform, Banking Technology understands.

ERI and Swisscom team for hosted core banking tech and ops

Outsourcing

Switzerland-based core banking software provider ERI has joined forces with another domestic IT firm Swisscom to offer private-banking and wealth management outsourcing services to banks and financial institutions operating in the Swiss financial centres.

Avaloq maintains momentum with massive earnings rise

Avaloq gets new core banking customer in Switzerland

Avaloq has reported impressive earnings growth for the first half of 2017 due to investment in its banking suite and the “accelerating trend of the market” towards digital, Software-as-a-Service (SaaS) and transaction processing services. For H1 2017, the firm says compared to the same period last year, adjusted EBITDA increased 257% to CHF 36.3 million […]

SEFCU outsources core processing to Fiserv DNA

SEFCU swaps in-house legacy tech for Fiserv

SEFCU, a top-50 credit union in the US, is modernising its core processing software with Fiserv.

Mambu’s core banking tech to support lending business of Globe Telecom

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Banking software developer Mambu has inked a large deal with Fuse, the lending arm of Filipino financial technology firm Mynt. Mynt itself is a subsidiary of Globe Telecom, a Philippines-based telco.

Linedata acquires outsourcing firm QRMO

Linedata takes over QRMO

Linedata has expanded its outsourcing business into Asia with the acquisition of Quality Risk Management & Operations (QRMO), a provider of outsourced middle-office, shadow accounting and risk monitoring services to the asset management and securities industries.

Digiliti Money evaluates go forward strategy as founder quits and revenue falls

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US-based fintech Digiliti Money (formerly Cachet Financial Solutions) is pondering its future in the light of financial troubles and the resignation of its founder, chairman and CEO, Jeffrey Mack.

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