banking

RBS to close 259 more branches amid shift to digital banking

Edinburgh-based Royal Bank of Scotland Group Plc has announced that outlets under both the NatWest and Royal Bank of Scotland brands will close in the middle of 2018 as the bank’s focus turns to digital banking. The closures are said to result in over 600 job cuts. RBS said it will use the savings to »

Accenture and Pivotal team up to help enterprises develop at startup velocity

Accenture, the global professional services company, and California-based software and services specialist Pivotal Software, Inc. have formed Accenture Pivotal Business Group (APBG) to help enterprises accelerate software development. The Group has already started working with companies in the banking and insurance sectors, and will aid migration of legacy applications to the cloud and speed-up cl... »

Capital One announces release of container orchestration platform

Earlier this week, Capital One Financial Corp. announced the beta release of Critical Stack, a container orchestration platform. The platform has been built by Massachusetts-based Critical Stack Inc, a computer and network security specialist acquired by the bank in 2016, and is compatible with open source container management systems. According to Capital One, the platform »

Integris Credit Union confirms successful core banking transformation

Validata, the UK-based application lifecycle management software provider, has announced that its suite of products has been deployed by Integris Credit Union in a successful core banking transformation to Temenos T24. Jeff Anderson, Vice President of IT at Integris Credit Union, said: “Validata helped us optimise project delivery for our testing and data migration phases, »

Canada to use blockchain for digital identification

In the first half of 2018, consumers in Canada will be able to sign up for a new digital-identity system developed by Toronto-based identity and authentication provider SecureKey Technologies Inc. The system is underpinned by IBM Corp.’s blockchain technology, and according to Greg Wolfond, CEO of SecureKey, consumers will be able to instantly prove who »

Leadership insight: Panaya CEO Jake Klein

Leadership insight: Panaya CEO Jake Klein

The $200m purchase of Panaya by Infosys has not been without controversy. Some Infosys shareholders complained about severance payments made to the former Panaya CFO following the 2015 deal. However, in its earnings report for the second quarter of 2017, Nasdaq-listed Infosys stated that the investigation it had commissioned had found no substance in accusations »

Nordea Bank cuts 6,000 jobs in digital bet

One week after Nordea Bank AB said it will cut 6,000 jobs in a digital bet, a key investor says the rest of the industry would do well to watch and learn. Sampo Oyj, Nordea’s biggest owner with about one-fifth of its stock, says digital adequacy is overtaking capital adequacy as a top consideration for »

Cryptocurrency remains unregulated in Singapore

Cryptocurrency remains unregulated in Singapore

Singapore doesn’t plan to regulate cryptocurrencies such as bitcoin, but will remain alert to money laundering and other potential risks stemming from their use, the head of the country’s central bank said. “As of now I see no basis for wanting to regulate cryptocurrencies,” Monetary Authority of Singapore Managing Director Ravi Menon has said. Rather, »

Ex-Barclays CEO Jenkins Bags $46 Million for His Fintech Startup

Now Jenkins has the opportunity to practice what he preaches. Today his fintech startup, 10X Future Technologies Ltd., announced it has raised 34 million pounds ($46 million) in a Series A round led by Ping An Insurance (Group) Company of China Ltd., a financial services firm in Shenzhen, and Oliver Wyman, a consulting firm owned »

SQS results for H1 hit by banking client loss

SQS results for H1 hit by banking client loss

SQS, the Cologne and London-listed software testing service provider, revealed on September 13 that the loss of a major banking client had contributed to the a decrease in revenues for the first half of 2017. The lost contract was worth €7.0m, SQS said, leading to a like-for-like revenue decrease of 3.9% to €160.1m, compared to »

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