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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.

Abcul perseveres with Model Credit Union project

Mark Lyonette, Abcul

The Association of British Credit Unions (Abcul) says it is making progress with its Model Credit Union initiative, to modernise the tech and operations of its members. Three credit unions are now live with new core and mobile banking software.

BBVA writes down $89.5m for Simple in three years since $117m acquisition

Image source: Simple

BBVA Compass has unveiled a “goodwill impairment” charge of $60 million in its latest financial results, attributed to its direct banking service subsidiary, Simple. BBVA bought Simple in 2014 for $117 million. It has since written down $89.4 million.

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