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September 2018 The definitive source of news and analysis of the global fintech sector | September 2018 www.bankingtech.com ELEMENTS OF FINTECH Pure in substance FOOD FOR THOUGHT Ecosystem is not a safe word EXCLUSIVE INTERVIEW: YVES TYRODE, BPCE A whole new digital strategy FINTECH FUTURES BT_AFS Transformation Partner_Final_Layout 1 8/20/2018 9:42 AM Page 1 IN THIS ISSUE Your Core Lending Transformation Partner With hundreds of implementations on time and on budget. Contents AFS System Capabilities •End-to-End Credit Processing NEWS 04 The latest fintech news from around the globe: •Scaleable & Agile the good, the bad and the ugly. •Mobile Enabled 17 Interview: Serena Smith, FIS Being at the heart of the exciting, changing •Real-Time world of payments. •Digital 18 PayTech Awards 2018 Celebrations, winners, photos – all the best bits! •RPA, ML & AI 22 Lendtech vendor spotlight: AFS Innovating and transforming the credit •Data Integrity process globally. •Cyber Security & Risk 23 White paper The state of IT incident response in financial services. •Web Services/APIs for Bank Ecosystem 30 Food for thought •And Much More Fellow bankers: “ecosystem” is not a “safe word”. 33 Spotlight: Sunrise Banks A US bank that is “social enterprise first”. AFS is where technological innovation meets financial services expertise, 34 Case study: Afghanistan International Bank offering the latest in core lending with advanced credit process Facing challenges far more extreme than most banks around the globe. management that is operational in multiple, large banks. We provide 38 Interview: Yves Tyrode, BPCE unique, industry-leading solutions with proven successes to help you On a mission to deploy a whole new digital strategy. transform your business to the next level and beyond. REGULARS 43 Appointments – the movers and the shakers. 43 Industry events – mark your calendars! AFS offers everything you’d expect from a state-of-the-art technology 44 Out of office – a slice of satire. partner—the agility of a fintech provider with the stability of a market leader for over 40 years. Learn more about how AFS is revolutionising lending. Call AFS at +43 (1) 714 1009 in Austria September 2018 | www.bankingtech.com | 01 www.afsvision.com Managing Director & Editor-in-Chief Tanya Andreasyan +44 207 551 9010 13 December 2018 | London Marriott Hotel Grosvenor Square [email protected] Deputy Editor Antony Peyton +44 207 551 9010 [email protected] Reporter Henry Vilar +44 207 017 5709 [email protected] Design & Production Manager Kosh Naran [email protected] Head of Sales Jon Robson +44 203 377 3327 [email protected] Business Development Manager Editor’s note David Wurie +44 207 017 5593 [email protected] Marketing Manager Irena Andrisevic Our editorial team often gets asked about incumbent banking heavyweights in their +44 207 017 5379 challenger banks, who they are, what respective geographies. We include banks [email protected] is it that makes them challengers and as well as non-bank (i.e. those without Subscriptions and Renewals whether they will succeed. Whilst we do a banking licence) providers of financial JOIN US FOR THE INDUSTRY’S MOST Tel: +44 207 017 5533 not have the crystal ball to answer the products and services that compete with Email: [email protected] latter (although we have some predictions high street banks. GLAMOROUS EVENT OF THE YEAR Subscription for one year: about potential winners and losers), we In the UK, Germany and Australia ■ £495 are happy to share our knowledge about an overwhelming majority of these are ■ €625 ■ $795 the newcomers on the global and regional digital-only entities. Hardly any challenger Now in their 19th year, Banking Technology Awards recognise excellence in the use banking scenes. After all, our reporters are – especially start-ups – in these countries of IT in banking and financial services, strive for innovation, and Subscription for two years: hunting high and low for fintech stories, bets on brick-and-mortar locations. ■ £800 happenings and developments all year In the US, however, the picture is professional contribution to the industry’s betterment. ■ €880 ■ $1,000 around across the globe! different. There are some digital-focused So, we have created a number of lists entities, but the majority of the “de novo” Book a table for you, your colleagues, partners and clients, and join us for a of challenger banks and banking services banks are community banks with physical fabulous black-tie event at London Marriott Hotel Grosvenor Square, providers and the technology they are presence, catering for local businesses using. You are most likely already familiar and individuals, and emphasising their a top-star venue in the heart of the UK capital. with the UK challenger bank list, but we ties to their respective location and the also now have similar lists for Germany, community. Will the recent opening Be a part of the celebrations! Australia and the US. All four are available up of the national bank charters to © Banking Technology 2018 All rights reserved; Banking Technology material on our website, and we’ll also be including non-depository fintech firms (see p8) may not be reproduced in any form without them in the upcoming editions of the change the trend? Keep an eye on our US the written permission of the publisher. Banking Technology magazine. challenger bank list to find out!b t Banking Technology is published ten times a year We endeavour to keep the lists as www.bankingtech.com/awards comprehensive and up-to-date as possible, Address but if you have any suggestions or updates, Maple House 149 Tottenham Court Road please do get in touch with our editorial Get in touch to find out more and book your seat: London W1T 7AD team. After all, it is a two-way conversation UK – we are keen to talk with our readers, not Jon Robson Printer talk at them… Hobbs the Printers Ltd So what makes a challenger? As a rule, e: [email protected], t: +44 (0)203 377 3327 Hampshire, UK it is a start-up (or a young entity), although Tanya Andreasyan ISSN 0266-0865 in some cases it can be a more established Editor-in-Chief www.bankingtech.com financial institution, that is taking on the Banking Technology For general queries, please contact: [email protected] @FinTech_Futures September 2018 | www.bankingtech.com | 03 #BankingTechAwards NEWS NEWS Five Degrees US Bank to sell card processor Elan Kenya’s Equity Group turns Al Baraka Bank buys core banking US Bank is looking to offload its card banking sectors for credit unions and Finserve subsidiary to fintech processor business Elan, with Finastra, FIS community banks. Finastra is, of course, Lebanon kicks off provider Libra and Fiserv believed to be in the final bid. the result of Misys and payments firm D+H Kenya-based Equity Group has taken its suite of digital tools for mobile banking core revamp Elan provides card processing services merging. mobile virtual network operator (MVNO) through the app. Dutch digital banking technology firm Five to 1,800+ US banks. This includes payments FIS hasn’t been in a buying mood Finserve into the magical realm of fintech. Finserve has already integrated with Al Baraka Bank Lebanon, part of the Al Degrees has acquired Libra, a provider of services, credit card issuing, prepaid card recently. But its payment capabilities are Finserve, which has already been active companies like Alipay and WeChat. Baraka Banking Group (ABG), is embarking core banking systems in Iceland. solutions and ATM and debit card processing. well known. Last year, US-based Fifth under the trading name Equitel, will now Mwangi says it controls 60% of the on a core banking system conversion. According to Five Degrees, Libra adds It also provides transaction processing, Third Bank chose FIS to enable real-time operate as an autonomous commercial country’s market share in merchant The bank focuses on Islamic financial value for its prospects and customers through terminal driving and monitoring and payments (RTP) for its customers through enterprise, delivering solutions to Equity banking and payments. services and has seven branches in its offering of core banking solutions in the support services for more than 34,000 the Clearing House’s (TCH) payments Group and other firms if they show an For the relaunch, Finserve unveiled two Lebanon. field of securities and loans. Libra employs ATMs across the US and supports more system. interest. solutions, the Jenga Payment Gateway and As reported last year, Bahrain-based over 40 staff, who also specialise in the same than 13 million ATM and debit cards. For Fiserv, it made a big acquisition last Equity Group CEO and MD Dr. Jenga APIs. ABG signed to implement the iMAL core technology stack as Five Degrees. Finastra, FIS and Fiserv have all been year when it bought payments software James Mwangi says: “Thanks to fintech The gateway supports businesses in banking system from Path Solutions at “It is the ambition of Five Degrees to busy in paytech and bankingtech – and vendor Dovetail. innovations by Finserve, 97% of all processing payments in the “crowded” East four of its 15 international subsidiaries. expand internationally and achieve a global the deal would naturally strengthen their Banking Technology contacted US Equity transactions are now outside the African payment space. It consolidates all According to Path, these comprise the market leadership position in digital banking,” payments capabilities and deal a blow to Bank, Elan, Finastra, FIS and Fiserv for branch [and] we have taken a deliberate payments to the Jenga platform and presents Bahrain headquarters, Lebanon, Egypt and says Martijn Hohmann, CEO of Five Degrees. any rival. comments. Finastra, FIS and Fiserv offered strategy to make Finserve an independent one integration platform to businesses.
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