Fidelity Bank completes latest acquisition; IT conversion to follow

US-based Fidelity Bank will move its latest acquisition, American Enterprise Bank of Florida, onto its core banking system, Fiserv’s DNA, from FIS’s Horizon. American Enterprise Bank added $209 million in assets, $147 million in loans and $182 million in deposits to Fidelity Bank. It also brought two branches in Florida. The bank’s Horizon core banking […]

Top fintech stories this week – 22 April 2016

Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Corelation’s Keystone core system reaches 50 users All aboard for US-based credit unions. Citizens Bank plans core banking revamp with FIS Bank is also looking at a new mobile platform and middleware layer. Scotiabank invests millions of dollars […]

Moni goes into receivership

UK-based payments firm Moni has gone into receivership. Moni says its business and assets are being marketed for sale; and joint administrators have been appointed. If people have queries or are “owed money”, Moni is directing them to an advisory service. The firm did offer a mobile payment app for iOS and Android – similar […]

Swift Business Forum London 2016: Open banking touches a nerve

Financial institutions are still nervous about APIs and security when the word “open” is discussed, was one theme from the Swift Business Forum London 2016. More than 1,300 delegates were packed into Tobacco Dock, London for the sixth edition of the one-day event. Yesterday morning’s sessions (20 April) were a mixed bag – “blockchain is […]

Bermuda Commercial Bank goes live with new core banking system, Temenos’ T24

Bermuda Commercial Bank (BCB) has gone live with Temenos’ T24 core banking system (R13). The bank has also implemented Temenos’ business intelligence and analytics tool, Insight, and an AML solution. Sofgen, a Switzerland-based specialist IT consultancy and integration firm (now part of Tech Mahindra), carried out the implementation. The project was 18 months in the […]

Swift Business Forum London 2016: Blockchain – a reconciliation revolution

Blockchain is a revolution in reconciliation but not in payments, is one of the messages coming out of the Swift Business Forum London 2016. For the sixth edition of the show, more than 1,300 delegates were rammed and jammed into Tobacco Dock, London. This morning’s (20 April) sessions were dominated by warm-up speeches that praised […]

Nets and JCB partner for mobile payments in Denmark

Denmark-based Nets and JCB have teamed up for Nets to use J/Speedy, JCB’s contactless technology, for Dankort payments with smartphones. Nets will launch Dankort on the mobile in autumn 2016, and JCB is also aiming to accelerate its mobile payment implementation globally using host card emulation (HCE) technology. Jeppe Juul-Andersen, SVP at Nets with the […]

MasterCard and Western Union boost Bangladesh’s mobile money transfers

MasterCard, Western Union, Bkash, a mobile financial service (MFS) provider, and BRAC Bank have launched a new, international remittance receiving service in Bangladesh. The service – via Western Union’s global network – enables Bkash’s registered customers to use their mobile phones to receive remittances from abroad directly into their accounts or collected from a Western […]

FIS and The Clearing House to debut US real-time payments system

FIS and The Clearing House (TCH) are preparing to launch a pilot for a “first-of-its-kind” real-time payments system in the US. The pilot will initially focus on the bill payment use case, using FIS technology and operating via the TCH real-time payments platform. Already under development, the pilot will go live in the first quarter […]