IBS Journal February 2016


New digital bank in Canada, EQ Bank, launches on Temenos software


Canada-based Equitable Group has launched EQ Bank, a banking service based entirely online and on mobile. It is under- pinned by Temenos software: T24 for core banking, Temenos Connect for channels and Insight BI for business intelligence and analytics. The software is hosted by HP, which also aided in the implementation process. The fi rm has been an established partner of Temenos in Canada since the mid-2000s. The new venture is an off shoot of an established bank of the Equitable Group, Equitable Bank. EQ Bank, which off ers its fi rst product, the EQ Bank Savings Plus Account, will bring ‘convenient everyday banking to fi ngertips of our customers’, according to president and CEO of Equitable Bank,


Andrew Moor. The account will enable customers


to pay bills, transfer money to friends and family and earn interest.


Canada goes digital Tangerine, another digital-focused bank in Canada, has launched a new service de- signed to allow users to make transactions over web chat. The system, named Tangerine Secure


Chat, has been developed to alleviate con- cerns customers might have about talking about their bank details over the phone where others can hear them. New bank on the Canadian block Koho


has teamed up with Visa to off er prepaid cards. The cards will be issued by Peoples Trust, a Canadian fi nancial institution, with


Mastercard develops smart fridges and contactless payments with new partnerships


US-based Galileo providing transaction processing services. It has also recently launched the country’s fi rst online chat- based transactions (see p32). Canadian Imperial Bank of Commerce


(CIBC) has initialised a digital transfor- mation in a bid to cut more than CA$600 million in costs over a period of three years. This is despite the bank forecasting a 29% rise in annual profi t.


Alex Hamilton


In brief


Ford is set to introduce a new system through which drivers can make payments with their car. Fordpass, unveiled by CEO Mark


Fields at the North American Interna- tional Auto Show, is a new mobility system for every Ford owner. The platform enables users to


Mastercard has partnered with Samsung and Coin to bring payments to the Internet of Things (IoT). Its partnership with Samsung, named


‘Groceries’, links the Samsung smart fridge – essentially a fridge equipped with a tablet – with the ability to instantly purchase items you’re running low on. Shopping lists are approved using a PIN, while the fridge can (worryingly in this writer’s opinion) learn your family’s eating habits and make recommendations. The other partnership concerns Coin,


a fi rm that has recently found itself in hot water following failures to deliver on orders


26


of its all-in-one payment card. Despite being in the doldrums, Coin has


aimed to move into the wearables market, something Mastercard is keen to pounce upon. The new partnership is named ‘Com- merce for Every Device’ and will see Coin add payment functionality to a number of everyday items. The addition of payment capabilities,


says Sherri Haymond, senior vice-president of digital payments for Mastercard, ‘makes the products more useful for consumers and enhances the value device manufactur- ers can deliver to their customers’.


Alex Hamilton © IBS Intelligence 2016 www.ibsintelligence.com


talk to assistants and book and pay for parking spaces. The Fordpass mobile application, according to Fields, ‘aims to do for car owners what iTunes did for music fans’. Part of the Fordpass system is


Fordpay, a virtual wallet that has been partnered with parking companies Parkwhiz and Parkopedia to help customers in fi nding and paying for parking spaces. The launch also detailed the


planned release of Fordhubs – brick and mortar storefronts where users can investigate upcoming technology and services. The fi rst of these are set to open in New York, San Francisco and Shanghai.


Alex Hamilton


digital round-up news


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48