09 Jan

Market Intel 8.Jan.2018

Market Intel

2017 was a record year for London and UK fintech investment The UK is Europe’s leading country for global tech investors, with British tech firms attracting more funding than any other European country last year. London’s tech sector brought in the lion’s share of investment, with the capital’s tech firms raising a record ٠.45 billion. Read More

Banking sector continues to see robust growth in Oman The banking sector in Oman continued to witness reasonable growth in both credit and deposits. The combined balance sheet of conventional and Islamic banks (other depository corporations), taken together, provides a complete overview of the financial intermediation. Read More

UAE serves as financial hub for the Middle East, says Dubai International Financial centre (DIFC) official Raja Al Mazrouei, chief executive of the DIFC Fintech hive, says the UAE is taking a lead in the whole region by having the regulation, the funding, and the incubators for fintech. Read More

Largest fintech hub to open in Bahrain – According to consortium’s chairman , the hub would utilise its global network and integrated digital platform to help create an ecosystem where innovators and entrepreneurs can connect and collaborate with corporates, investors, regulators and other stakeholders. Read More

Sri Lanka’s central bank mulls rules for cloud computing, fintechSri Lanka’s central bank plans to introduce guidelines for the financial sector covering emerging technologies like cloud computing and ‘fintech’or financial technology, Central Bank Governor Indrajit Coomaraswamy said. Read More

EBL launches Bangladesh’s first AI-based banking chatbot – Eastern Bank Ltd (EBL) has become the first bank in Bangladesh to launch an artificial intelligence (AI) based chatbot. EBL’s Digital Interactive Agent (DIA) will communicate with customers via Facebook Messenger. Read More

Jordan Ahli Bank has become the first bank in Jordan to introduce a chatbot service – Rami Al-Karmi, chief innovation officer at the bank and CEO of Ahli FinTech (and also “Master Jedi”, according to his LinkedIn profile), is inviting users to test the bot and provide feedback. Read More

Client/Prospect Intel

Mashreq Bank Receives Nine Awards From Global Finance in London Mashreq Bank, the UAE’s leading financial institution was presented with nine awards at the Digital Bank Conference and Awards dinner hosted by Global Finance magazine in London, England. Read More

UK challenger banks: who’s who (and what’s their tech) (Updated) With so many new entrants trying to muscle into the UK banking sector, there is a comprehensive list of the known challengers to date and the technology they are using. Read More

Wall Street Systems takes European Central Bank (ECB) to court over tech deal with rival Openlink – Wall Street Systems, a long-standing supplier of its Wallstreet Suite treasury management software (TMS) to the ECB, filed a lawsuit in response to the bank’s decision to sign a new deal with another TMS provider, Openlink. Read More

Competition Intel

LuLu Exchange tackles AML with Fiserv tech stack Fiserv announced that LuLu Exchange, which provides cross-border remittance, currency exchange and other financial services for consumers and businesses, has selected Fiserv to enhance its financial crime prevention capabilities and enable its expansion into new markets. Read More

Sopra Steria Plans to Acquire German Firm BLUECARAT Sopra Steria plans to acquire 100% of the share capital of BLUECARAT, a German firm providing strategic IT Consulting, Agility, Cyber/IT Security and API Management. This proposed acquisition would strengthen Sopra Steria’s position in the German market. Read More

Natixis Chooses Guidewire Core and Digital Products – Natixis Assurances has selected Guidewire ClaimCenter®as its platform for claims management. The insurer has also chosen the Guidewire Digital application, CustomerEngage Account Management, to boost the digital experience of its customers. Read More

Symitar, Member Driven Technologies Expand Core Processing Partnership – Jack Henry & Associates’ Symitar®division announced the expansion of its partnership with Member Driven Technologies (MDT), a credit union service organization (CUSO). MDT provides credit unions with a private cloud alternative for core processing and IT needs. Read More

Motor City Community Credit Union in core banking tech revamp with Fiserv and Celero – Canada-based Motor City Community Credit Union (MCCCU) has signed to implement the DNA core banking platform from Fiserv. Fiserv’s local partner, Celero, will coordinate the migration to the new system. Read More

State Bank of Pakistan completes major core banking tech upgrade State Bank of Pakistan (SBP), the country’s central bank and regulator, has completed a major upgrade of its core banking software. The bank moved its currency and banking systems from Temenos’legacy platform Globus G11 to T24 R15. Read More

 

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