Fintech, Finance, Technology, Banking Highlights – 21 November 2017
ABN Amro opens developer portal
ABN AMRO has launched the first version of its Developer Portal, with a series of commercial APIs (Application Programming Interfaces). By working together more closely with external developers, the bank will accelerate innovation and further improve the services for its clients.
Application Programming Interfaces (APIs) have evolved over the past few years, going from internal integration tools to digital building blocks that connect organisations. Developers can use them to create valuable client experiences, innovations and new business models. Again and again, companies such as Apple, Spotify and Dutch railway operator NS show that providing strategically selected services to third parties can add a great deal of client value – for example, Google Maps uses the NS API to show departures in real time.
Bamboo leads $7 million round in credit scoring startup First Access
Bamboo Capital Partners (“Bamboo”), a leading impact investment private equity firm delivering social and financial value, has led the $7m Series A investment round in First Access, a cutting-edge fintech company that offers a smart data platform for analytics and credit scoring to lending institutions in emerging markets.
The Series A investment supports the launch and continuous development of the platform, as well as the strengthening and growth of product, sales and client success teams. The fourth-generation First Access platform is now live for select financial institutions. This will be extended across other regions early next year.
Following the investment, Bamboo will also appoint Christian Ruehmer to the First Access Board of Directors. The transaction was led by Bernhard Eikenberg and other participants in the investment round include both new and long-time First Access partners, including: The Social Entrepreneurs’ Fund, Impact Engine, 500 Fintech, Colle Capital, and private investors.
Nations Trust Bank implements biometric tech from Daon
Nations Trust Bank of Sri Lanka and Daon together announced today that Nations Trust Bank launched the Mobile Banking app and FriMi, its new mobile banking, payments & lifestyle app, using Daon’s IdentityX platform capabilities for biometric authentication.
“In keeping with our commitment to providing progressive and convenient financial services, we chose to partner with Daon to provide our customers with the best user experience possible, while deploying a secure and scalable solution,” said Thilak Piyadigama, COO, Nations Trust Bank. “Users have responded favorably to our apps and their capabilities. We are happy to report that adoption rates are ahead of expectations.”
Garmin applies FitPay to contactless payment watch
Garmin International, Inc. (NASDAQ: GRMN) and Fit Pay, Inc., a wholly owned subsidiary of NXT-ID, Inc. (NASDAQ: NXTD), today announce that the Garmin PayTM contactless payment feature is now live on Garmin’s vívoactive 3 smartwatch and available to cardholders of issuing banks supporting the new service.
The new feature on Garmin’s latest smartwatch enables consumers to make highly secure contactless payments at near-field communication-enabled (NFC) point-of-sale (POS) retail locations, adding a powerful new capability to one of the most complete smartwatches on the market for the active consumer.
“With Garmin Pay, vívoactive 3 wearers now have the freedom to leave their phone and wallet at home when they go to run or work out, and still be able to make purchases wherever their day takes them,” said Dan Bartel, Garmin Vice President of worldwide sales. “The vívoactive 3 is an indispensable tool for any active lifestyle and we appreciate the support that card issuing banks have provided to make this exciting new feature available to their cardholders.”
