Category: Doing Business Overseas

Banco Santander Consumer Portugal selected OutSystems to power its ambitious digital transformation program in 2017. Working with OutSystems partner KPMG, the bank had replaced 70% of its core systems by the beginning of 2020. With a new agile IT architecture, the bank is now able to innovate at speed, to launch new channels and solutions…

Visa is expanding its integration with Square’s instant transfer feature into Canada. Square’s Canadian merchant clients can access their funds in real time, instead of waiting for the next business day. Instant transfers are enabled by Visa Direct, a VisaNet processing capability that facilitates real-time delivery of funds. One of the themes at FinovateFall earlier this…

Fintech is a broad industry, and with the breadth of its sub-sectors comes a large range of trends that change year after year. But with all of the new, hot trends to follow, it’s impossible for banks and fintechs to focus on everything at once. That’s why our team set out at FinovateFall earlier this…

The role of chief information officer (CIO) is changing amid the evolution of bank architecture, digital infrastructure and technology. “I think the role of the CIO has drastically changed over the last couple of years,” Ken Meyer, chief information and experience officer at Truist, said recently at Bank Automation Summit Fall 2022 in Seattle. “Our…

Truist is looking to leverage cloud capabilities through the adoption of new bank messaging standards and data analytics. With the impending adoption of ISO 20022 — an open global standard for sending digital payment messages and data between financial institutions (FIs) — cloud developers will be able to take advantage of the data that will…

This week’s post was inspired by “What happens when the bank robber is the bank,” an article posted by Chris Skinner last week. He’s talking about the situation in Lebanon where people are robbing their banks to get their own money. Let me start with a couple of stories. EminiFX was an online investment platform…

Seattle Bank is preparing to enter the banking as a service and embedded finance markets as part of its digital banking and post-core conversion strategy. The $752 million bank is exploring microservices, moving to the cloud and establishing vendor relationships with API-first, open-banking capabilities. The bank completed its core conversion to Finastra’s Fusion Phoenix in…

This week, Finovate Global takes a look at fintech developments in Egypt, specifically the story of Cartona. The company, just over two years old, is a B2B e-commerce marketplace that helps connect retailers with a curated network of suppliers and wholesalers. Cartona secured $12 million in Series A funding this summer, taking its total capital…

Klarna Bank AB, months after announcing major job cuts and taking a $39-billion hit to its valuation, is planning to restructure parts of its business further to suit a slower-growing, smaller operation, people familiar with the matter said. In a meeting this week, a manager in the internal engineering unit of the Swedish buy-now-pay-later company…

Financial institutions are looking to snuff out fraudulent banking transactions in real time as consumers increasingly fall prey to online scammers. To combat this, KeyBank’s robotic process automation (RPA) technology can automatically block bots using bots of its own that may attempt to carry out fake transactions. Consumers reported losing more than $5.8 billion to…