Fintech, Finance, Technology, Banking Highlights – 31 January 2018
Finabank selects Temenos for end-to-end technology
Temenos (SIX: TEMN), the software specialist for banking and finance, announces that Finabank, the fourth largest commercial bank in Suriname, has signed for Temenos T24 Core Banking, Channels, Business Intelligence and Financial Crime Mitigation.
This combination will help propel Finabank’s efforts in business, retail and platinum banking, as part of Finabank’s objective to lead the financial services industry in Suriname.
Finabank is undergoing rapid expansion, tripling its assets within a three-year span. Finabank has opted to migrate to Temenos’ technology to support the bank’s continued growth and to provide enhanced services to its customers. The implementation will provide the bank with enhanced ease-of-use, such as an intuitive user interaction design, multi-lingual capabilities for its Dutch and English-speaking base, insight into customer data and a flexible architecture that allows for customization and integration. Key security features such as role-based authorization and the use of biometrics for customer and user identification ensure that the bank’s data will remain safe as it continues to innovate and modernize its approach. Paired with Temenos’ Financial Crime product family, the bank will have access to a range of fully automated, highly efficient and effective analytical modules, to quickly identify the likelihood that a financial crime has occurred and protect its customers. The project will be implemented over 18-24 months.
Maplin and Klarna allow Customers to Pay later or spread the cost over time
Klarna has announced a partnership with Maplin – the UK’s number one specialist technology retailer.
Maplin customers will now be able to use Klarna’s Pay later and Slice It services, allowing them to order online and receive the very latest Smart Home tech, security/CCTV products, top quality drones and so on, and then pay for them either at a later date or spread the cost over time. Pay later enables online and mobile Maplin customers making purchases of £200 or less to receive their products and pay for them 30 days later, with no interest or fees. They can touch, feel and see their chosen items to ensure they’re happy with them before parting with their money.
Alternatively, Maplin customers can choose Slice it at the checkout, which allows shoppers to spread the cost of purchases of £600 over equal monthly payments. Klarna’s consumer finance is significantly simpler than that of other providers – with only a 4-step application and real-time decisioning.
Maplin is one of the first retailers to adopt Klarna’s unique payment options to help their customers access not only physical products, but also services – such as security installation and maintenance.
SpherePay, Singapore’s Homegrown Mobile Payment App Raises Over USD 10 Million in Funding
SpherePay, Singapore’s homegrown mobile payment app, announced today that it has completed its fundraising exercise which saw the company raising over USD 10 million.
It has not disclosed the name of investors due to on-going developments. With this latest round of funding and the affirmation of its strategic partnership with oBike since last December, SpherePay is well-placed to be the top three payment platforms in Southeast Asia. It currently serves over five million users and has more than 10,000 merchants in the region.
Last year, SpherePay announced its strategic partnership with oBike, Southeast Asia’s largest bike sharing operator. In a move that is set to deepen its partnership, SpherePay will integrate oBike’s operating system into its app. This means that SpherePay will be able to support all services available on oBike’s app including its geofencing feature and crowdsourcing delivery service, oBike Flash.
“Since our inception last year, we have been making good progress to ensure that SpherePay will be one of the most highly utilised mobile payment apps in the region. Our completion of the recent fundraising coupled with the strategic partnership with oBike, are testament to the commitment and rapid development of SpherePay. This partnership with oBike saw an immediate acquisition of over 5 million users in South East Asia and we are putting together new features that will bring even greater benefits to all our users.” said Mr Joseph Chen, CEO of SpherePay.
