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Northern Trust Donates $826,000 to Habitat In Its First Global Charity Trading Day

Northern Trust Donates $826,000 to Habitat In Its First Global Charity Trading Day

Northern Trust today announced its first global Charity Trading Day, benefiting global housing nonprofit Habitat for Humanity International, as part of the company’s global philanthropy strategy. The company will donate $826,000 to Habitat. In addition, Northern Trust employees and clients will volunteer through a company program in 2023 to support the nonprofit’s mission. The global effort, led…

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Greenwishing New ESG term is Just In Time

Greenwishing New ESG term is Just In Time

A new term from Charles Ashwanden, Asset Management and ESG Lead at Crux. He notes that more than one-third (702) of the world’s largest publicly traded companies have set net-zero targets, yet two-thirds haven’t made it clear how they plan to achieve that goal. many companies do not have visibility into their Scope 3 (or indirect) emissions – ingesting Scope 3 data to understand the…

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Temenos Experts on Open Banking's Impact on FIs and Fintechs

Temenos Experts on Open Banking’s Impact on FIs and Fintechs

Open banking is forcing banks to rethink their business models and decide whether they want to be manufacturers or distributors of financial products or both, said Kanika Hope, Chief Strategy Officer at Temenos. Europe is ahead of open banking regulations, so it was interesting to hear Hope and banking consultants and the tech lead at Blueshore Financial in Canada discuss the concept and what it…

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Advocate For The Poor For OCC?

Advocate For The Poor For OCC?

From today’s American Banker: By Brendan Pedersen     2 min readMehrsa Baradaran, a University of California, Irvine, professor and former banking lawyer, has worked hard to close the racial wealth gap and could further such goals as head of the Office of the Comptroller of the Currency, wrote 34 caucus members in a letter to President Biden.She’d be an interesting choice. While a lot of people…

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RIP Simple, the innovative banking site

RIP Simple, the innovative banking site

I was sorry to have to write about BBVA shutting down Simple, and Azlo. Josh Reich, a co-founder, said he was amazed at how complex American banking was compared to his native Australia, and it seemed designed to confuse users and drive up fees. The banking service certainly had its fans as I explain in my Forbes…

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Trulioo Makes The World Economic Forum Pioneers And CNBC Disruptor 50 Lists

Trulioo Makes The World Economic Forum Pioneers And CNBC Disruptor 50 Lists

Trulioo, a global identity verification company, has been selected as one of the World Economic Forum’s Technology Pioneers and was also named to the CNBC Disruptor 50 list for the second time.

Trulioo’s mission is to provide verifiable identities for everyone to advance financial inclusion while building trust online, the company’s release said. It can verify the identity of more than 5…

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Low-Code Can Compensate For Shortage Of Programmers In Financial Services

Low-Code Can Compensate For Shortage Of Programmers In Financial Services

The financial services industry needs to use low code development because it doesn’t have the time or the people to create services the old fashioned way, says Omar Arab, vice president of business development at Veritran. The company provides a low-code solutions to write front-end customer-facing apps. Its code runs at 50 banks with 40 million users and processes 10 billion transactions a year,…

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Helping Employees Avoid Late Fees, Bounced Checks And Pay Day Lending With Their Own Money

Helping Employees Avoid Late Fees, Bounced Checks And Pay Day Lending With Their Own Money

PayActiv gives workers access to the money they have earned without requiring them to wait two weeks for their paycheck, said Safwan Shah, the company’s CEO. It advances the money and then is reimbursed by the employer when checks or direct deposits are issued.

“It delivers access to affordable financial services at scale to a financially stressed community. We have two guard rails that are…

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N26 Is The First Of Three European Digital Banking Apps To Launch in US

N26 Is The First Of Three European Digital Banking Apps To Launch in US

N26, the first of the European digital banking apps to enter the U.S. market, is now opening up its mobile app to new customers. US residents can download the app directly from the Apple App Store and Google Play and apply for an N26 account and Visa debit card powered. Monzo has recently launched and Revolut is expected soon.

N26 attributes its fast in Europe to its “beautiful design and…

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DHS Updates U.S. Critical Infrastructures Including Payments And Securities Settlement

DHS Updates U.S. Critical Infrastructures Including Payments And Securities Settlement

The U.S. Department of Homeland Security last week released an update to its list of 16 critical infrastructures, which included financial services such as payments and clearing and settlement of securities.

“The Financial Services Sector-Specific Plan details how the National Infrastructure Protection Plan risk management framework is implemented within the context of the unique characteristics…

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Technisys - Ready With A Digital Banking Core For North & South America

Technisys - Ready With A Digital Banking Core For North & South America where banks are dissatisfied with current core banking providers.

North America has a newcomer in core banking — Technisys, originally from Argentina. It is implementing a digital first system at Alberta’s ATB in a new subsidiary bank called Brightside, and it recently raised a $50 million Series C investment round from Riverwood, a Silicon Valley fund.

Co-founders Miguel Santos, CEO and co-founder Adrián Iglesias, COO both came out of IBM Argentina while a…

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Z/Yen Group Designs New Index Linking Finance and Tech

Z/Yen Group Designs New Index Linking Finance and Tech

London’s Z/Yen group has developed a Smart Centres Index, designed to track the development of commercial and financial centres across the world in their support for and readiness for new technology applications.  Smart centres are cities across the world which encourage a high degree of innovation in business using new technologies.

The index is intended to help investors, governments, and…

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Ohpen Gets New Investment, Adds More Bank Clients

Ohpen Gets New Investment, Adds More Bank Clients

Ohpen, a banking tech firm in the Netherlands that was the world’s first cloud native core banking provider, has announced that its first and long time investor, the investment management firm Amerborgh, has sold part of its shareholding to NPM Capital, which now has a 35% stake.

“We have had Ohpen in sight as one of the most promising technology companies that we have seen in the past few…

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Pew Blasts CFPB For Reversal On Payday Lending

Pew Blasts CFPB For Reversal On Payday Lending

Midnight on the 15th ended the CFPB’s comment period on its proposal to rescind the payday loan rule to protect borrowers that it had finalized in 2017.Pew said the CFPB rule on payday ending could save consumers billions.

“Pew is deeply concerned that the Bureau’s proposal to rescind the ability-to-repay provisions it finalized in 2017 will harm consumers and dissuade lenders from providing…

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EDI Challenges Reference Data's Big Four

EDI Challenges Reference Data’s Big Four

A relative newcomer to the reference data business, Exchange Data International, is challenging the incumbents for what it terms anti-competitive practices. Specifically, EDI contends that the termination clauses in reference data contracts, which typically require users to return or delete their reference data, makes it difficult for users to change providers because they would have to re-create…

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SETL Clarification - Re-Org, Not Bankruptcy

SETL Clarification – Re-Org, Not Bankruptcy

From the esteemed Julia Streets:

SETL announces start of corporate reorganisation further to successful completion and approval of the regulated CSD development 

Roadmap to position business for strong financial future.

London 07 March 2019, In line with its 2018 strategic and operational plan, SETL the London based institutional payment and settlement infrastructure provider using…

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SETL Finances For Bankruptcy

SETL Finances For Bankruptcy

SETL, a UK firm which aimed to use blockchain technology to reduce settlement costs, has filed for bankruptcy, Finextra has reported.

Peter Randall, the founder of Chi-X, launched SETL in 2015 with with Anthony Culligan, an experienced hedge fund investor and CEO and founder of peer-to-peer bitcoin trading venue Roolo.

At the time, Randall told me that this could reduced settlement costs which he…