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O-Bank goes all-digital with Avaya’s tech

O-Bank goes all-digital

US-based tech company Avaya says it has helped O-Bank to become “Taiwan’s first, all-digital, online-only bank”.

SocietyOne tops $350m in loans

SocietyOne

Australian P2P lender SocietyOne has revealed it has issued more than $350 million in loans on its platform since 2012, reports Julie Muhn at Finovate (Banking Technology’s sister company). Additionally, the company has the highest number of current loans, setting a record for itself with $200 million in its books. “Our growth in 2017 underlines […]

Fujitsu to trial blockchain payments with three Japanese banks

fujitsu

Fujitsu will work with Mizuho Financial Group, Sumitomo Mitsui Financial Group (SMFG) and Mitsubishi UFJ Financial Group (MUFG) to conduct a joint field trial of a person-to-person (P2P) money transfer service using blockchain. The trial will begin in January 2018 and last for about three months. Fujitsu says it has already initiated development of the […]

DBS readies for IFRS 9 with Z-Risk Engine roll-out

DBS_Bank

Singapore-based DBS is deploying Aguais and Associates’ (AAA) Z-Risk Engine (ZRE) to generate future credit losses on the bank’s wholesale credit portfolio, as it complies with imminent IFRS 9 requirements. According to AAA, the new financial regulations, effective from 1 January 2018, call for banks and other lenders to deliver a regular, predictive point-in-time (PIT) […]

NAB gets down and under to overhaul SME business loans

NAB Logo

National Australia Bank (NAB) has unveiled a complete overhaul of its existing business standard loan form contracts that will “benefit” over 130,000 Australian business owners.

Infographic: the world’s most cashless countries

Cashless Infographic

What countries among the 20 largest economies are adapting quickest to using cashless systems like phones and contactless cards? New research (and nifty infographics) from global trading site Forex Bonuses reveals that Canada takes the top spot, narrowly edging out Sweden for the top position.

Top fintech stories this week – 6 October 2017

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

Singapore and Thailand mull digital payments alliance

Monetary Authority of Singapore

The Monetary Authority of Singapore (MAS) and the Bank of Thailand are in discussions about connecting their national digital payment systems as officials step up efforts to curb the use of cash, according to Bloomberg. The link would bring together Southeast Asia’s first national digital payment platforms, Singapore’s PayNow and Thailand’s PromptPay, says Naphongthawat Phothikit, […]

Singapore sets Phase 2 to stun for blockchain inter-bank payments

Singapore

The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) say that the consortium which they are leading has developed software prototypes for improved payments on blockchain. The prototypes included three different models for decentralised inter-bank payments and settlements with liquidity savings mechanisms. The project, conducted together with 11 financial institutions […]

Saxo Bank Securities in Japan warms to Torstone’s Inferno for regulatory reporting

Japan_flag

Japan-based Saxo Bank Securities has selected Torstone Technology’s Inferno to replace its legal ledger and comply with regulatory reporting requirements. It will initially use Inferno to improve its post-trade reporting processes and is looking to add additional features in future unspecified phases. Torstone says Inferno is a modular solution, giving organisations the “opportunity to incrementally […]

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