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STOP PRESS


News in brief BNP Paribas and its US subsidiary Bank of the West have partnered with the financial technology innovation


platform of Plug and Play, an accelerator for Silicon Valley startups, corporations and investors.


The banks have been announced as Plug and Play corporate partners in a move they hope will boost Silicon Valley scouting and engagement opportunities with new firms, technology monitoring, and learning expeditions. Plug and Play is in the midst of its third FinTech accelerator programme, providing support to 23 new entrants.


Artificial intelligence, data analytics, blockchain, wealth management are among the areas being targeted for the DBS


Accelerator programme, run by DBS Bank (Hong Kong) and NEST. The initiative launched last year. Applications for the second Accelerator are now open and companies can apply via: www.DBS-accelerator.com.


From the Vault, a 5,000-square foot workspace in Wan Chai, participants will be mentored by DBS Bank (Hong Kong) and NEST senior executives as well as other partners. DBS Bank (Hong Kong) CEO Sebastian Paredes says: “At the heart of the programme is our commitment to shape the future of finance by transforming how we operate and serve our customers through digital innovation. The success of DBS Accelerator shows that the FinTech startup ecosystem has a firm foundation in Hong Kong as a dynamic platform to foster talent, drive groundbreaking innovation and deliver tremendous opportunities for growth.”


Estonia’s Bigbank has chosen a Provenir cloud solution to overhaul its processing of credit and loans. The FI


operates in the Baltics, Nordics, Germany, the Netherlands, Austria and Spain. To remain compliant with regulations, Bigbank makes updates to risk models and policies, which can take up to four weeks. and quicker with Provenir as they won’t require IT development.


It says that changes will be simpler


“At Bigbank we recognise investment in technology can help us achieve our goals of delighting customers and growing market share. Our digital transformation is enabling us to innovate and be more agile in our delivery and processes. This helps us achieve excellent time to market for product developments and provide great customer service,” says Agur Jõgi, Chief Technology Officer, Bigbank. “The Provenir solution is an important element in this transformation. We’re pleased with how quickly we’ve been able to develop an end-to end efficient workflow; the interface is so visual that it is simple to design effective, transparent business processes.”


Volante Technologies has inked a partnership agreement with Payfessional, which will see its VolPay suite of payment integration and processing products delivered to the Turkish and regional financial markets.


Payfessional is an Istanbul-based firm that specialises in developing and implementing electronic payment processing solutions to businesses across the financial industry. VolPay Foundation will help its clients to meet both local and international payment flow integration requirements and adopt new or changing payment financial message standards. VolPay Channel will enable banks to on-board corporate payment flows quickly and sreduce time to revenue. VolPay Hub will result in faster take-on, processing and orchestration of new payment flows and allow real time, centralised control and visibility of payments and cash management.


Zurich-headquartered Appway has opened an office in London as it reports a rapid growth in demand for its products


and services in the UK. “Our new London office will help us better service our global clients operating in the UK with a 24/7 local market presence,” says René Hürlimann, Head of Sales in EMEA. “A permanent office in the heart of Europe’s banking industry will also enable us to adapt more quickly to market-specific regulations with our local team of experts.”


www.ibsintelligence.com © IBS Intelligence 2016


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