First Data and Live Oak complete joint venture deal
First Data and Live Oak Bancshares announced they have closed the digital banking joint venture that was announced earlier this year. The new company, named Apiture, combines First Data’s and Live Oak Bank’s digital banking platforms, products, and services, delivering innovative technology solutions tailored for financial institutions.
With Live Oak’s cloud-based banking technologies, First Data’s digital banking solutions, and the combined research and development of two global leaders in financial services technology, Apiture will accelerate the delivery of new digital banking solutions to the market.
“With the agility of a startup, and the resources of First Data and Live Oak, Apiture will provide community and regional banks with technology that matches that of the world’s largest financial institutions,” said Chris Cox, President of Apiture and former Head of Digital Banking at First Data. “We decided to call the joint venture Apiture because of the focus we have on APIs and providing an open platform to deliver best-in-class solutions to this important market.”
Cooperative Bank of Oromia goes live on Temenos UniversalSuite
Temenos announces that Cooperative Bank of Oromia (CBO) has gone live with its UniversalSuite. As the bank increases its footprint in Ethiopia, this new technology will enable the bank’s growth strategy, supported by an agile core banking solution, powerful analytics, and a central platform to drive growth across all distribution channels. United System Integrators (USi) led the implementation of Temenos’ Core Banking platform at CBO.
Akalework Amde, Software Services Manager, USi noted: “CBO is the first bank of its size in the region to go-live on Temenos’ Core Banking platform with a “big bang” of 256 branches and 2.5 million customers migrating from its legacy system onto Temenos Core Banking. USi, adhering to Temenos’ implementation methodology, implemented Temenos’ Ethiopian model bank, successfully bringing the bank live in four and a half months”
Diebold signs UAE partnership agreement with Transguard
Transguard Group and Diebold Nixdorf announced a strategic partnership to provide financial institutions and retailers in the United Arab Emirates (UAE) with best-in-class services and technology. Transguard Group, a leading UAE business support and outsourcing provider, is now a certified Diebold Nixdorf solutions service provider across the UAE. This partnership will enable Transguard to provide authorized maintenance services to a majority of financial institutions across the UAE. As financial and retail markets converge and expand, the synergies created from the partnership successfully respond to consumers’ needs for convenient, secure and seamless transaction experiences.
“Our partnership with Diebold Nixdorf further accelerates our mission to deliver total business support solutions and to enable our customers to focus on their core business,” said Dr. Abdulla Al Hashimi, Chief Executive Officer, Transguard Group. “Together, we will be able to provide our customers with optimum convenience for their networks, ensure availability and enhance efficiency with a single point of contact from cash-in-transit (CIT) and maintenance services, to managed services. We are confident that the feedback from our customers will be very positive”.
Broadridge buys Summit Financial Disclosure
Broadridge Financial Solutions, Inc. (NYSE:BR) has acquired Summit Financial Disclosure, LLC, a full-service financial document management solutions provider.
Summit’s document composition and regulatory filing services will be integrated with Broadridge’s proxy voting and shareholder communications services to create an end-to-end solution that spans the entire corporate disclosure lifecycle from private funding, through capital markets transactions and ongoing communications to regulators and shareholders. Broadridge has a 30-year history of providing corporate issuer solutions including proxy voting, transfer agency, data, print, omni-channel delivery and annual meeting services.
