Latest news with #corebanking
Finextra
6 days ago
- Business
- Finextra
NS&I to replace legacy core banking system with SBS
NS&I (National Savings and Investments), the U.K.'s government-owned savings bank, and global financial technology company SBS today announced their work together to digitise NS&I's core banking and payments services. 0 The initiative is part of NS&I's Transformation Programme and its contract with Atos, a European digital transformation company, to modernise its banking engine. SBS's digital, cloud-native core banking platform will lay a foundation for new business efficiencies, product and service delivery, and customer experiences for NS&I. Organisations now realise the need to move faster than legacy on-premise infrastructure allows. European retail banks are accelerating their cloud investments, with spending projected to rise by 57.5% from 2025 to 30, reaching $12.6 billion according to a recent Celent report. Through its ongoing transformation programme, NS&I is proving how financial institutions can move beyond just aspirations to make fully digital, cloud-based services a reality organisation-wide. Working with Atos, IBM and Sopra Steria, NS&I is transforming and digitising its retail operations. Powering this digitisation on the back-end will be SBS's next-gen SBP Digital Core platform, which will replace NS&I's existing core system with a cloud-native infrastructure for all of its Retail banking and payments services. 'NS&I's transformation program will help to deliver the digital experiences that our customers expect, while still ensuring there is help and support for those who need it,' said Matt Smith, Chief Operating Officer at NS&I. 'Replacing our core system is a critical step in this evolution, and we look forward to continuing our work with SBS and Atos to bring it to fruition.' As one of the U.K.'s largest savings organisations, NS&I's internal infrastructure is responsible for not only upholding its 24+ million customer base, but also implementing savings rate changes and servicing the resulting interactions with customers. With on-premise and even hybrid cloud systems, this means maintaining the highest level of data storage at all times—even when it's not being used. By transitioning to SBP Digital Core, NS&I will benefit from the complete flexibility and scalability of AWS's cloud environment, enabling it to make data storage and other infrastructural adjustments as often as it needs to. Compared to legacy core systems that are not easily updated or modified, SBS's cloud and Software-as-a-Service (SaaS)-based alternative enables it to provide regular, automatic system updates, so there are no disruptions to banks' day-to-day operations. 'Cloud and SaaS transformation in the financial industry is not a matter of when, but how,' said Eric Bierry, CEO, SBS. 'NS&I's transformation program is evidence that it is possible for banks to execute this transformation—and doing so sets them up to drive otherwise unattainable efficiencies and experiences. We're thrilled to partner with NS&I on this journey.' SBP Digital Core is a cloud-native, composable core banking solution that leverages latest technology and data to allow banks to offer personalised and relevant banking experiences to their clients while complying with regulatory requirements. It is a part of SBS's larger retail banking offerings used by more than 1,500 banks across Europe, the Middle East and Africa. In addition to core banking, these offerings include deposits, payments, lending, reporting, open banking and more.
Finextra
6 days ago
- Business
- Finextra
Solidgate taps Tuum for global money movements
Tuum, a next generation core banking provider, is proud to announce its partnership with Solidgate, a leading payment processing and orchestration platform, to power Solidgate Treasury – a solution that gives online businesses global access to their funds, without the traditional bottlenecks. 0 This strategic collaboration allows global digital companies to seamlessly manage cross-border payments through business accounts and cards, simplifying global B2B transactions and providing faster, more secure services for rapid growth. At the core of Solidgate Treasury lies a strong, industry-leading infrastructure and direct connection to global transfer rails, such as SEPA and SWIFT. Tuum's cutting-edge core banking platform forms the backbone, providing Treasury with necessary, ready-to-go solutions to enable money movement via multiple channels, including global transfers, card payments, and direct integrations with leading service providers in the fintech world. 'We are excited to work with such a strong network of partners to make Solidgate Treasury happen,' said Andrii Stas, PM at Solidgate Treasury. 'Thanks to Tuum's ready-to-go solutions, we can ship multiple payment rails like SEPA, SWIFT, and services like mass payouts to cards and accounts to our customers in a very short period of time.' The ability to scale and handle high volumes of transactions is crucial for Solidgate. Tuum's proven track record of powering LHV's Banking-as-a-Service platform, which supports over 200 fintechs worldwide and processes 7% of all European Instant Payments, demonstrates its ability to scale alongside growing businesses. This made Tuum the perfect partner for Solidgate to launch Treasury and support increasing transaction volumes as its merchants scale their businesses globally. Tuum's modern, cloud-native architecture, built on microservices and API-first technologies, was a key factor in Solidgate choosing Tuum as its partner. Tuum's flexibility supports Solidgate's goals for innovation in the payments space, which allows it to introduce new services and ensure secure and efficient payout infrastructure for it's clients as they expand into new markets. 'At Tuum, our mission is to provide the technological foundation that allows our partners to innovate without limits,' said Miljan Stamenkovic, Chief Revenue Officer at Tuum. 'With Solidgate's ambition to introduce Treasury for its merchants, we're proud to deliver a platform that not only supports rapid product launches but also expands its capabilities through seamless integration with best-in-class providers. This collaboration demonstrates how our flexible, API-first architecture empowers businesses to meet current market demands and scale for future growth in the evolving payments landscape.'
Finextra
30-06-2025
- Business
- Finextra
Maib selects Tuum for digital transformation propject
Tuum, the next-generation core banking platform, has announced today a strategic partnership with maib in Romania, where Moldova's largest bank looks at establishing its digital banking presence with asset-light retail-only offering. 0 Tuum's SaaS core banking platform will serve as the foundation for maib's greenfield operations in Romania. Maib selected Tuum in Romania after a comprehensive evaluation of leading core banking providers. Tuum stood out for its modularity, modern architecture, and rare ability to support agnostic deployment. This feature, enabling in-country deployment where necessary, was a key differentiator, future-proofing maib European data residency compliance as it scales. Jurgen de Ruijter, Head Representative of maib's operations in Romania, stated: 'Maib's decision to partner with Tuum came after a comprehensive evaluation of leading core banking platforms. Tuum was identified as the most modern, modular, and technologically advanced platform, setting it apart from other next-generation core banking solutions. We believe this solution supports us in our endeavour to build the next generation fintech.' Miljan Stamenkovic, Chief Revenue Officer at Tuum, commented: 'This is a milestone partnership for Tuum and a powerful validation of our platform's leadership in the European core banking market. Maib's expansion into Romania is one of the most ambitious digital banking initiatives in the region, and we're proud to support it with a solution engineered for speed, scalability, and compliance. Our agnostic deployment capability was a decisive factor—proving once again that flexibility is key in enabling banks to move fast and scale smart.' This deal highlights Tuum's leadership in enabling established financial institutions to execute 'launch and expand' strategies with modern, cloud-native technology. It reinforces Tuum's role as a strategic partner for ambitious digital banking ventures across Europe.
Finextra
26-06-2025
- Business
- Finextra
Innovation Norway selects Mabu and Knowit for core banking
Innovation Norway has selected Knowit and Mambu to modernise its core banking platform, marking a significant milestone in the digital transformation of public financial services. 0 The new solution, powered by Mambu's cloud-native technology and seamlessly integrated to the Norwegian financial systems by Knowit, will optimise Innovation Norway's loan, grant, and guarantee functions, enabling greater efficiency and scalability for the organisation and the businesses it supports. As Norway's government-owned national development bank, Innovation Norway plays a pivotal role in supporting innovation and business development across all counties in the country. To support the needs of its customers, Innovation Norway requires a replacement for its legacy banking solution, which currently handles critical functions related to loans, grants, and guarantees, including loan origination, product configuration and setup, funding management, credit processes, and case management. 'Innovation Norway plays an important role as an industrial bank supporting Norwegian companies by offering the full range of financing solutions: risk loans, market loans, guarantees and grants. We are looking forward to further improve our services together with Knowit and Mambu to build a financial platform that will serve our customers in years to come,' says Leon Bakkebø, EVP Banking & Financing at Innovation Norway. The new core banking solution will streamline manual processes, enhance data quality, and enable improved real-time insights. These advancements align with Innovation Norway's objectives of fostering greater digitalisation and operational efficiency. Knowit, serving as the primary system integrator, will ensure smooth implementation and integration of the new platform within Norway's financial ecosystem 'We're proud to support Innovation Norway realise its digital transformation goals. Together with Mambu we are delivering a solution that will automate processes, improve data management, and provide real-time insights, empowering Innovation Norway to better serve Norwegian businesses. We already have extensive experience in implementing and modernizing financial solutions in the Nordic region, and have, among other things, a similar project for the Norwegian Public Service Pension Fund (SPK), where delivery is expected to be in place shortly,' says Jan Georg Lehmann, Chief Commercial Officer at Knowit Financial Solutions. 'Many established institutions are locked into legacy environments making it incredibly challenging to adapt to new consumer and market demands. We are excited to partner with Knowit to deliver a modern, cloud-based banking solution to Innovation Norway. Our platform offers the flexibility and scalability needed to future-proof Innovation Norway's operations, while driving innovation in key areas like loans, grants, and guarantees. This collaboration is an important step towards empowering Norwegian businesses for the future.' says Jorno Levels, Commercial Lead Nordics & Baltics at Mambu. The project spans four years, with an option for annual extensions up to eight years. The agreement was signed this week and the work to develop and improve the financial platform has already started.
Yahoo
25-06-2025
- Business
- Yahoo
League Data successfully migrates 37 Atlantic credit unions to cloud-based modernized banking platform in 15 months
- This "first of its kind" core banking transformation streamlines operations, delivers personalized services and provides future-positioned solutions for credit unions HALIFAX, NS, June 25, 2025 /CNW/ - League Data, the centralized CIO and trusted technology partner of Atlantic credit unions for over 50 years, has successfully completed 37 conversions to the Mambu cloud-based core banking platform. With the final conversion of Mosaik Credit Union (June 13-15), League Data and its partners have accomplished this major digital transformation in just over a year. This accomplishment showcases a first of its kind core banking transformation of unprecedented scale in the Canadian financial sector and will future-proof the Atlantic Credit Union System for an evolving financial services landscape. "It's been a remarkable experience to lay the foundation for a more agile and scalable banking ecosystem. We have set a new benchmark for transforming core banking in a way that directly benefits members — making their financial lives simpler and smarter," says Alfred Arsenault, CEO at Provincial Credit Union & Board Chair for League Data. Collaboration was a central pillar in achieving this milestone as industry leaders such as AWS, Mambu, MuleSoft, Everlink, Central 1 and Persistent brought deep expertise to support this large-scale transformation. "This endeavor demonstrates what's possible when an entire ecosystem moves forward together with shared purpose and trust. I would like to thank all the credit unions and our partners who made this accomplishment possible. We are excited to start this new phase of modernization and build the momentum for a revolutionized credit union system," said Chad Griffin, CEO, League Data. The achievement was made even more meaningful as League Data marked its 50th anniversary this year in April. For five decades, League Data has empowered credit unions to better serve their members through cutting-edge and critical technology solutions for everyday banking. With the successful completion of this initiative, League Data will focus on opportunities to collaborate further with credit unions across the country. With a firm belief that together, the cooperative system is stronger and increased collaboration will create more opportunities to share knowledge and learn from one another. This new collaboration will explore financial technology solutions to grow the Canadian credit union system towards a viable future. All through cooperative values. About League Data As the centralized Chief Information Officer (CIO) for the Atlantic Credit Union System, League Data Ltd. provides technology leadership in the area of banking solutions, aligned with regional and national credit union system initiatives that support member growth and system efficiencies. League Data provides over 50 seamless, fully integrated technology solutions from key vendors to deliver a member-first experience while meeting the evolving banking needs of both credit unions and their members. SOURCE League Data Ltd. View original content: Sign in to access your portfolio
