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Banking industry news stories

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Banking industry
Big tech, cloud adoption accelerating in banking sector - report
Cloud adoption in banking is accelerating as banks ramp up digital services, according to a new report from the Economist Intelligence Unit.
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Digital Transformation
Artificial intelligence to power the banks of the Future - Google
A new report shows AI will power personal customer experiences in the digital financial revolution.
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Banking industry
The next 5-10 years will make or break APAC banks, report finds
“Digital transformation can’t be viewed as a long-game anymore, and in fact three in five APAC banks believe they will cease to exist within the next five to ten years if they don't change the way they operate. That’s a very sobering statistic."
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Kiwibank
Unplanned outages cause Kiwibank to go offline for second time in three days
The latest issue comes after planned maintenance on Kiwibank’s IT systems in the early hours of Sunday morning.
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Payment innovation
Failed payments costing Asia Pacific organisations more than $41b every year - Accuity report
The study also found that 60% of respondents are losing customers because of failed payments.
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Banking industry
Banking CFOs need to step up efforts in ESG, automation and crypto support - Accenture study
The role of the banking CFO is changing - and disruption management will be key to their success.
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Payment gateways
Forter doubles revenue in 12 months, raising $300 million for a $3 billion valuation
Forter has doubled its revenue in the last 12 months, raising $300 million for a $3 billion valuation.
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Cryptocurrency
New Bitcoin indicator series from State Street
State Street Corporation has launched its new Bitcoin Indicator series, aiming to measure the popularity of Bitcoin and its impact on traditional markets. 
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Cloud Banking Solutions
Mambu launches Sharia-compliant banking platform
Mambu states that 1.8 billion Muslims are being underserved in the banking market, in part due to a lack of Sharia-compliant solutions.
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Cloud Banking Solutions
Technology decisions can make or break a digital bank
Adapting to change used to be a bank’s biggest liability. Now it can be its biggest asset.
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Digital Transformation
APAC banks race to revitalise innovation initiatives as pandemic reveals digital gaps
Banks are going back to the drawing board on their digital transformation programmes.
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SaaS
SaaS banking 'unicorn' Mambu eyes APAC expansion
This latest funding round was backed by TCV, which is a capital investment firm that has backed the likes of Airbnb, Expedia, LinkedIn, Netflix, and Zillow.
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Economist Intelligence Unit
New report shows perceptions of challenger and traditional banks
"The new report, which analyses online conversations, reveals that in the battle for consumers, challengers and incumbent banks will need to meet customers demands for financial empowerment, enhanced digital experiences as well as safety and security."
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Open source
ANZ Bank named winner of Red Hat awards for APAC region
ANZ Bank has been named the winner for the A/NZ region in the digital transformation and cloud-native development categories at the Red Hat APAC Innovation Awards 2020.
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Robotic Process Automation / RPA
AI in the finance sector - and how it will revolutionise banking
With the bar to success set so much higher amid lockdowns, innovation is almost essential, and one of the clearest paths to innovating a business model is through AI.
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Data
Ping Identity empowers open banking adoption with additions to CDR sandbox
The new CDR versions establish the groundwork for concurrent consent, which enables a data holder to simultaneously have multiple data sharing arrangements with an individual customer.
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Cloudera
Bank Mandiri teams up with Cloudera to better serve customers post COVID-19
"Cloudera’s data platform has assisted Bank Mandiri in handling the complexities of data management and supporting multi-function analytics amidst changing situations."
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Gartner
Banking and securities IT spending down, Gartner forecasts 2021 rebound
“With a better understanding of the impact of COVID-19, banks and securities firms are now accelerating automation initiatives, such as customer-facing chatbots, robotic process automation (RPA) and end-to-end account origination solutions."
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Microsoft
Standard Chartered Bank moves to cloud-first future with Microsoft
"To realise our digital ambitions, Standard Chartered has chosen Microsoft as a strategic partner and this partnership marks a major milestone for the bank in adopting a cloud-first approach."
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Digital Transformation
Backbase and Mambu partner to continue to evolve banking industry
“Mambu and Backbase are united in our goal to transform the banking industry. We enable banks to break free from legacy applications and successfully compete in a digital-first world."
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Financial services organisations
Virgin Money teams with Temenos & Deloitte Digital to launch new bank
“We are working with Virgin Money and Temenos to imagine, make and run the bank of the future."
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Payment gateways
Kiwibank to stop accepting cheques
Kiwibank will no longer accept cheques as cheque use declined and customers moved to faster, safer and cheaper ways to pay and get paid.
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Cloud
Bankwest develops first third-party API for Lendi integration
The bank says it rapidly developed the API as part of its transformation to an agile operating model, with squads dedicated to the integration and the underlying technology platform.
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Artificial Intelligence
NZ's financial sector primed for AI, research finds
New Zealand urgently needs to increase its focus on the core foundations needed to operate in an AI enabled future.