Standard Chartered and Axis Bank launch cross-border payments via Ripple


Standard Chartered and Axis Bank have unveiled a real-time cross-border payment service for corporates using Ripple’s distributed ledger technology (DLT) solution. This offering is now commercially available between Standard Chartered (Singapore) and Axis Bank India, and, accessible through Standard Chartered’s corporate digital banking platform, Straight2Bank. Himadri Chatterjee, president, transaction banking, Axis Bank, says by using […]

Airtel Payments Bank live with new core banking system


Airtel Payments Bank, a start-up subsidiary of Indian telco Airtel, has gone live with its core banking system. This is understood to be Infosys’ Finacle.

Federal Bank opts for Intellect’s digital transaction banking platform

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Federal Bank in India has selected Intellect Design Arena’s digital transaction banking (DTB) platform as part of its revamp. The system is powered by an omnichannel corporate banking exchange (CBX) portal with backend processors for collections and receivables, payables, account services and supply chain finance. Intellect says DTB will also augment the front end of […]

Top fintech stories this week – 10 November 2017

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

ICICI Bank sets the tone for voice-based payments in India


ICICI Bank has unveiled India’s first voice-based international remittance service to enable non-resident Indians (NRIs) to send money to any bank in the country. With the new feature in its Money2India (M2I) app, an NRI customer can make a remittance to existing payees in India with a voice command to Apple’s virtual voice assistant, Siri. […]

Major Indian bank looks for fintech acquihire


A major financial institution in India is looking to make a fintech “acquihire” (an acquisition of a company primarily for the skills and expertise of its staff, rather than for the products or services it supplies).

Deutsche Bank unveils first paperless import payment solution in India

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Deutsche Bank has launched the “first” paperless import payment solution in India with its TradePay system. TradePay uses the Reserve Bank of India’s (RBI) Import Data Processing and Monitoring System (IDPMS) to verify import payments by checking them against details made available by the client on the system, “eliminating the need for clients to share […]

India’s fintech valley gets pally with Mastercard for smart city plan


Mastercard has partnered with the Andhra Pradesh government in India to bring its digital payments into the Fintech Valley Vizag’s smart city plan. Under the agreement, Mastercard will help Andhra Pradesh in its ambitions to be a cashless society and develop the city concept. Mastercard president and CEO Ajay Banga says it can do this […]

Utkarsh Small Finance Bank goes live with Intellect’s core banking system


Utkarsh Small Finance Bank, a microfinance institution in India, has rolled out Intellect Design Arena’s core banking system. The bank received its licence last year, and according to Intellect, one of the key requirements for Utkarsh was to have a joint liability group solution that would enable it to provide group loans to the microfinance […]

AU Small Finance Bank in GST tech project with SunTec


A new bank in India, AU Small Finance Bank, is working with SunTec to automate the goods and services tax (GST) functionality with the vendor’s Xelerate revenue management system.