Latest news with #cloudbanking
Finextra
12 hours ago
- Business
- Finextra
MuchBetter adds Temenos-powered business accounts
MuchBetter, the award-winning fintech innovator, has introduced a next generation business account offering, MuchBetter Business (MBB). 6 Built on an advanced, cloud-native core banking solution from Temenos, and supported by NatWest and SWIFT, MBB is designed to meet the needs of businesses in specialised sectors that face barriers to traditional banking access. MBB delivers a trusted, secure, and reliable alternative to legacy banking services. With access to operational accounts and dedicated safeguarding accounts—available in 35 currencies—the offering empowers businesses to operate globally with confidence. Key features include advanced web and mobile apps for seamless account management and payment approvals, customisable approval workflows for secure, role-based transaction control, global payment rails for UK, Eurozone, and international transfers, real-time FX execution with competitive rates, and accelerated digital onboarding with biometric ID&V and KYB compliance. The MuchBetter Business offering is designed with user experience and security at its core. Business users benefit from a clean, responsive interface that supports flexible payment approval workflows. Permissions can be tailored to define who can initiate and approve transactions, including multi-signatory rules for high-value payments. Notifications are delivered across web and mobile, enabling approvals on the go. While customers interact with the offering via the MBB Mobile and Web apps, it is underpinned by robust technology powered by Temenos SaaS. This comprehensive, scalable banking solution supports real-time transaction monitoring and processing, advanced financial crime prevention tools, treasury management, and efficient payment routing. All client funds are safeguarded with tier-one partner bank NatWest, ensuring security and regulatory assurance at every level. Temenos powers over 950 banks globally and is recognised for its expertise in SaaS banking. Its market-leading core banking suite and best-in-class modular solutions are transforming the banking industry by fostering digital excellence and innovation, helping financial institutions to thrive in today's increasingly dynamic markets. 'MuchBetter has made substantial investments in our banking platform to ensure that we provide our customers with the most reliable and secure services. says Gary Hill, CIO of MuchBetter. By partnering with Temenos as a globally trusted technology partner we offer our customers the reliability and performance trusted by major banking institutions across the globe. This ensures they have a smooth customer experience and peace of mind.' Mark Yamin-Ali, Managing Director, Europe, Temenos added: 'Congratulations to Gary, his team and the MuchBetter organization on the launch of their next-generation business account using Temenos SaaS. This is a great example of how Temenos partners with financial institutions to leverage the deep functionality, agility and scalability of Temenos SaaS to accelerate innovation and elevate customer experience.' MuchBetter's infrastructure is further strengthened by its direct membership with SWIFT, enabling secure, compliant cross-border payments, and its collaboration with a tier-one UK bank that provides safeguarding and FX services. With a rapidly expanding suite of B2B and B2C offerings, MuchBetter is building a full-service financial ecosystem that includes wallets, wearables, gateway services, and white-label payment solutions. The MuchBetter Business platform forms the foundation of this vision, allowing MuchBetter to serve both ends of the financial spectrum, from individual users to large multinational enterprises.
Finextra
5 days ago
- Business
- Finextra
MyTu integrates Apple Pay
MyTU, a fully automated, AI-native and cloud-first digital bank, has introduced Apple Pay integration, a safer, more secure and private way to pay that helps customers avoid handing their payment card to someone else, touching physical buttons or exchanging cash — and uses the power of the iPhone to protect every transaction. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. This addition follows the earlier launch of Google Pay and becomes a part of a broader update to the myTU app, which also includes instant card issuance, token management, and improved digital wallet support. With this integration, customers simply hold their iPhone or Apple Watch near a payment terminal to make a contactless payment. Every Apple Pay purchase is secure because it is authenticated with Face ID, Touch ID, or device passcode, as well as a one-time unique dynamic security code. Apple Pay is accepted in grocery stores, pharmacies, taxis, restaurants, coffee shops, retail stores, and many more places. Customers can also use Apple Pay on iPhone, iPad, Apple Pay and Mac to make faster and more convenient purchases in apps or on the web in Safari without having to create accounts or repeatedly type in shipping and billing information. The updated myTU app supports instant issuance of virtual cards, allowing users to begin spending within minutes, without the need to wait for physical cards. Users can also replace cards without disrupting recurring payments by maintaining merchant tokens and block tokens to halt specific merchant transactions that are ideal for managing online subscriptions. Tomas Navickas, CTO and Co-founder of myTU, said: 'As an AI-native and cloud-first bank, we focus on building services that reflect how people actually live and work today. The integration of Apple Pay is part of our commitment to practical, customer-focused banking solutions. It simplifies everyday payments and complements our wider effort to give clients more control, faster access, and better security in managing their finances. This is a natural step in our evolution toward a more digital and efficient banking experience.' The upgraded myTU app also supports merchants that use tokenized billing, helping to maintain continuity even when card details change. For users, this means services such as streaming subscriptions or memberships can continue uninterrupted after a card update. For those who still prefer a plastic card, myTU app allows them to order one separately, only when needed. This separation of virtual and physical card issuance reflects a shift towards more flexible and digital first banking.
Finextra
7 days ago
- Business
- Finextra
Mambu unveils Mambu Payments
Today, global cloud banking leader Mambu unveils Mambu Payments, expanding its composable banking platform to include modern, end-to-end payment capabilities. 0 Following its acquisition of payments technology provider Numeral in December 2024, this marks a significant step forward in Mambu's mission. The launch of Mambu Payments means Mambu is poised to help financial institutions modernise core infrastructure and accelerate innovation across the entire banking stack, spanning lending, deposits, and payments. Modernising payment infrastructure is a strategic priority for financial institutions facing regulatory pressure, the rise of instant payments and industry-wide shifts like ISO 20022, and increasing customer expectations for speed and reliability. Yet many are still constrained by fragmented legacy systems that hinder innovation and scalability. Mambu Payments addresses this challenge with advanced, composable capabilities that integrate seamlessly into any core banking ecosystem. Acting as a universal gateway, it connects institutions to a growing network of pre-integrated clearing systems, partner banks, and payment schemes, while enabling end-to-end automation through a modern payments hub. Mambu Payments is quickly gaining traction - longstanding Mambu customers are building on years of successful collaboration on their core banking and expanding their partnership with Mambu to modernise their payments including Western Union, INDEXO Bank and BCB Group. 'Mambu Payments brings the same qualities that made Mambu's cloud banking platform the core of choice for forward-thinking financial institutions: cloud-native, API-first, and composable,' said Mark Geneste, Chief Revenue Officer at Mambu. "Mambu supports more than 260 financial institutions globally, helping them to modernise and migrate from legacy technology to future-proof solutions. Financial institutions can now choose to start with deposits, lending, or payments and easily expand across the platform as their needs evolve.' 'We wanted our customers to get the best of both worlds,' said Édouard Mandon, VP Payments at Mambu. 'Composability where it matters and an integrated solution with end-to-end workflows where it drives value and reduces friction. That's why we built the native integrations between our payments, lending, and deposit modules the way we did — to give customers the flexibility to choose their own path.'
Finextra
14-05-2025
- Business
- Finextra
Banks Are Asking the Wrong Questions About Core Modernization: By David Feuer
In the early 2000s, Netflix offered Blockbuster an opportunity to integrate its online DVD rental model for $50 million. Blockbuster, bullish on its retail dominance, dismissed the offer, scoffing at the idea that digital and mail-based rentals could compete with its physical footprint. Blockbuster became a relic, while Netflix grew into a $433 billion global company. 25 years later, banks are falling into a similar trap by asking the wrong questions. The Lesson: Blockbuster asked questions about optimizing its existing model, while Netflix asked, "What will the future of entertainment look like?" If we learned anything from The Innovator's Dilemma, those who ask questions about the future—rather than optimizing for the present—are the ones who shape it. This mindset is one of the biggest keys to the future of financial services. And nowhere in financial services are future-focused questions more important than in the move to a cloud native banking architecture. What questions should bankers be asking about core infrastructure? In short, you shouldn't. Most banks are still far too focused on asking the 'today' questions instead of 'tomorrow' ones. Yes, you need an understanding of cloud architecture and what capabilities will enable you to successfully design applications, but if you're in the weeds on hardware, databases, or networks, you are focusing on the wrong thing. Recently, a banker asked me 'What database are you on?' It's really the wrong question. It's wrong because it focuses on the siloed business applications or databases, and not the higher-level business logic and capabilities that can work across systems in an organization. This idea is taking hold in other areas too. Banks can take a note from Microsoft CEO Satyya Nadella's recent comments that SaaS as we know it is about to be displaced by AI agents. He explains that, as AI is able to oversee rules and apply logic across many databases and apps, SaaS will still have a role, but it will take a back seat to AI. Banks can apply this mindset to focus on the strategy and outcomes they want to enable, allowing the tools to fade into the background. The real questions should sound more like this, 'How can we use the cloud to deliver better, faster, and more accessible services to our customers?' 'How do we integrate more seamlessly into our customers' lives? 'How do we deliver more timely, relevant services?' Just like the Blockbuster-Netflix example, most industries have moved beyond this IT-centric thinking, to transformative future-thinking results. The infrastructure should follow from these questions, not the other way around. Core banking modernization shouldn't be about the plumbing. It should be about water. In other areas, bankers are already embracing this mindset, adopting a SaaS model. They're not asking Salesforce or their BPO provider what database they're running, because it doesn't matter. These providers are managing the software for banks, and the focus isn't on the software itself; it's on the experiences and outcomes they deliver. In these scenarios they're already starting with customer outcomes and working backward, designing solutions that evolve as needs change. When we apply this thought process to core banking capabilities, technical details like microservices and modular architecture can be abstracted away. The user only cares about the service, and they can focus on things like the agility to quickly integrate new features, scale services, and adapt to real-time customer demands. What will the future of banking look like? The questions we should all be asking. Instead of asking about databases or other IT-centric questions, bankers can start by asking cloud-native providers how they handle customer behaviors in a 24/7, always connected payments world: scalability, peak traffic and resilience. They can move away from focusing on transactions and toward experiences and relationships. They can ask, 'How can cloud providers help me become relevant and available in my customers flow?' Questions like: 'How can we embrace more 'micro-moments' to integrate further into customers' lives?' also set the conversation in the right direction. Why? The more moments you capture, the more insights you gain, and the more meaningful engagement you'll get from your customer. Modernization isn't about processing transactions faster. It's about creating meaningful relationships with customers, often through these micro-moments—those small but impactful interactions where a bank can anticipate and meet a customer's needs in real time. These moments, powered by data and technology, are where trust and loyalty are built. What does this look like in practice? Bankers who are shaping the future are driving toward goals like these: Proactive Engagement: Using real-time data to anticipate customer needs and provide solutions before problems arise, such as reminding a customer about an upcoming bill or suggesting a way to optimize their savings. Analyze what the users can't. Personalization at Scale: Moving beyond generic offerings to create tailored experiences and offers for each customer. This could mean customizing financial advice, product recommendations, or even credit terms based on individual behaviors and goals. Don't make your customers work to find the data relevant to them. Life-Integrated Finance: Embedding financial services into everyday digital life, such as budgeting tools integrated into e-commerce platforms or rewards and gamification tied to financial planning, banks have an opportunity to make their services indispensable. Go where your customers are, even in the digital world - don't force them to go to you. Accessibility for All: Thinking beyond traditional banking customers. How can your bank design products that serve gig workers, small businesses, or the underbanked? Ensure you are serving the next generation of customers. The Way Forward Banks don't need just another round of incremental upgrades. They need to ask new questions to shape the future of their business and the industry. This means embracing adaptability over rigidity and focusing on customer outcomes rather than internal systems. It's not enough to ask, 'How do we modernize our infrastructure?' We need to ask, 'How do we modernize the experience of banking?'
