SIX picks IBM Watson for cybercrime fight


SIX Securities Services, Switzerland’s post-trade market infrastructure, will use IBM Watson for its new cognitive security operations centre (SOC). The new facility will be housed at SIX’s offices in Switzerland to provide localised cybersecurity services “tailored to the needs of the region”. Robert Bornträger, division CEO SIX global IT, says IBM is a “logical partner” […]

European Commission calls for fintech feedback

European Commission

The European Commission (EC) has unveiled its action plan for consumers and is asking for feedback on its fintech ambitions. The EC wants to prise open national barriers as only 7% of consumers currently buy financial services from another EU member state. Valdis Dombrovskis, vice-president responsible for financial stability, financial services and capital markets union, […]

Warburg Pincus buys stake in Avaloq

Avaloq gets new core banking customer in Switzerland

Private equity (PE) firm Warburg Pincus will acquire a 35% shareholding in Avaloq from existing shareholders – with the deal a first step towards a potential public listing. The transaction values Avaloq in excess of CHF 1 billion ($1 billion). Detailed financial terms are not being disclosed, but Francisco Fernandez, CEO at Avaloq, will retain […]

Branches to go in Alior Bank’s 2020 digital dream, but tech to get $100m investment

Alior Bank

Poland’s Alior Bank has unveiled its growth ambitions and number of branch closures over the next three years with its “Digital disruptor” strategy. In its 65-page report, the bank does the usual trick of praising itself and its disruptive qualities, calling itself the “largest ever start-up” in Central and Eastern Europe in the financial services […]

N26 mobile bank powers to 300,000 users

N26 goes pan-European

Berlin-based mobile bank N26 says its user base grew to more than 300,000 over the last year, tripling in size since the last announcement of 100,000 users in January 2016. As Banking Technology reported late last year, N26 took its business fully across 17 European countries, including Spain, Italy, Greece, Ireland and Slovakia. Before that […]

Poland’s mBank to invest €50m in fintech start-ups

mbank 2

Poland-based mBank will set up the “first” fund in Central and Eastern Europe that will specialise in developing and selling new technologies. The Polish bank says it has an ambition to influence digital transformation in the banking sector and its mAccelerator project will provide €50 million in investment to start-ups. mBank CEO Cezary Stypułkowski says […]

EquensWorldline bags Degussa Bank payments processing deal

EquensWorldline 1

Payments firm EquensWorldline, a subsidiary of Worldline, has secured a long-term contract to process all payments for Degussa Bank in Germany, starting Q2 2017. Degussa Bank will outsource its end-to-end payments processing to EquensWorldline. This includes SEPA processing, cross-border payments, high value payments, compliances services, investigations, archiving and a full channel service suite including Swift […]

Banco Sabadell in regtech project with AxiomSL


Risk management and regulatory reporting software vendor AxiomSL has been selected by Banco Sabadell.

SEB supports Samsung Pay in Sweden

Samsung Pay comes to Sweden

SEB is among the first banks in Sweden to offer Samsung Pay functionality to its customers.

Fortuna Banque to revamp front-to-back office tech with Temenos and Syncordis

Syncordis helped Temenos develop Luxembourg Model Bank version of T24

Luxembourg-based Fortuna Banque, a retail co-operative bank, is modernising its core banking and digital operations with Temenos. The project is being carried out by local system integrator Syncordis.