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Top fintech stories this week – 20 October 2017

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

BNP Paribas and EY explore private blockchain for treasury operations

BNP Paribas

BNP Paribas ALM Treasury and EY have completed a pilot demonstrating the use of blockchain to improve global internal treasury operations for the bank. The ALM Treasury department, which manages the bank’s internal ops, at the service of all three operating divisions of the group, carried out the pilot, tested internally this summer. According to […]

BNP Paribas selects SmartStream’s fees and expense management solution

Smartstream

The derivatives execution and clearing (DEC) business of BNP Paribas has implemented SmartStream Technologies transaction lifecycle management (TLM) Fees and Expense Management (FEMS) solution.

Cybersecurity: into the data breach

Cybersecurity

Cybersecurity has become a significant issue as attacks are increasing. In the new payments ecosystem, where third-party developers can directly interact with banks’ customers, data privacy and security become paramount, according to the World Payments Report 2017.

Hey big lender! Finastra, R3 and seven banks have blockchain plan

Blockchain

Finastra, R3 and seven banks – including BNP Paribas, BNY Mellon, HSBC, ING and State Street – are working together to create a blockchain-fuelled online marketplace for the syndicated loan market. Underpinned by Corda, R3’s distributed ledger technology (DLT) based platform, Fusion LenderComm exposes real-time credit agreement, accrual balances, position information and transaction data to […]

Gambit acquisition offers BNP Paribas robo-advisory opening

Gambit

France’s BNP Paribas Asset Management (BNPP AM) has acquired a majority stake in Belgium-based robo-advisory company Gambit Financial Solutions. BNPP AM says via the deal it will look to improve its advisory-guided or autonomous interfaces. Gambit will maintain its independence and become the preferred partner for robo-advisory solutions for BNP Paribas’ retail and wealth management […]

BNP Paribas exports nexo standards across 14 European countries

BNP Paribas

French bank BNP Paribas wants to help merchants “kiss goodbye” the costly, time-consuming and complex task of managing multiple, incompatible domestic acceptance systems. It plans to accomplish that for merchants in 14 European countries by deploying nexo’s acquirer payment acceptance messaging protocol.

Commerzbank and BNP Paribas part ways over lending JV

Private equity firms take over German payment services provider Concardis

Commerzbank and BNP Paribas have ended their Munich-based lending joint venture (JV), Commerz Finanz. The German bank says it has reached an agreement with BNP Paribas Personal Finance on the split-off of the business division holding the instalment loans brokered by Commerzbank from Commerz Finanz. Michael Mandel, member of the board of managing directors of […]

BNP Paribas fined $246m for FX misdemeanours

BNP Paribas

BNP Paribas has been hit with a $246 million fine by the US Federal Reserve System relating to past misconduct in its foreign exchange (FX) business. The Paris-based bank says it will pay the fine and has settled Federal Reserve allegations that it failed to keep its FX traders from using electronic chatrooms to manipulate […]

Fintech funding round-up: 17 May 2017

Funding concept with smartphone

Quickly following on from the cash flow glow of 15 May, here’s another fintech funding round-up. Features Additiv, BZ Bank, Symphony, BNP Parabis and IOTA. Zurich-based digital finance provider Additiv knows how to stay healthy as it has secured its first capital investment funding round of CHF 21 million ($21.3 million). The round was headed […]

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