#abnasia: do you spend too much on your server cost and want to cut by half? – talk to ABN.

Migrating Thousands of Applications to the Cloud with Docker Enterprise

Société Générale is a French multinational bank that believes technology and innovation are key to enriching the customer experience and advancing economic development. The bank’s diverse application portfolio includes thousands of both monolithic and distributed applications.

Coventry Building Society chucks out Accenture from core banking project
Source: Bankingtech

The UK’s Coventry Building Society has decided to drop Accenture from its core banking project. As reported in June 2018, the society chosen Temenos’ T24 system for a digital revamp. That followed on from 2016, when Coventry BS embarked on a tech modernisation project and was looking for the new system.

Accenture was selected as implementation partner for the T24 project. Although another consultancy, Cognizant, helped with system selection.

FinTech Futures contacted the building society and it responded on the same day: “We’re currently reviewing the programme to ensure we deliver the right outcome for the society and its members. Product suppliers, Temenos and Iress, are engaged in this review but it’s not necessary for Accenture, in their role as systems integrator, to be involved at this stage.”

The society is the third largest in the UK, with total assets of more than £34.1 billion, 1.4 million members with savings accounts, and 350,000 members who are borrowers.

Coventry BS is a long-standing user of the Mortgage and Savings Suite (MSS) from Sopra Banking Software for its core processing; and FIS/Sungard’s Ambit Treasury Mangement/Quantum system for treasury operations, FinTech Futures understands.

Link:

Mizuho Bank prepares roll out of proprietary digital currency

Mizuho Bank is to launch its well-trailed proprietary digital currency in March, with the support of 60 regional domestic banks. Reports first surfaced in September of last year that a consortium of banks, led by Mizuho Financial Group and Japan Post Bank, had won support from the country’s central bank and financial regulator to launch the J Coin, an electronic currency to pay for goods and transfer money using smartphones.

According to the Nikkei Asian Review, merchants who support acceptance of the coin will be charged fees significantly lower than for credit card payments in a bid to spur adoption and uptake. To make use of the currency, users will download a dedicated app on their smartphone. Payments will be made using QR codes. The value of the digital currency will be fixed at 1 yen per unit, and will not fluctuate on the market, as virtual currencies such as bitcoin do.

Mizuho is not the only Japanese bank experimenting with its own currency. Mitsubishi UFJ Financial Group is also planning trials of its own MUFG Coin with around 100,000 account holders in Tokyo. Much like the J Coin, the proprietary currency is pegged 1:1 to the Japanese Yen, can be downloaded to smartphones and used for P2P funds transfers and for online shopping.

The flurry of activity comes as Japanese banks seek to cash in on the local population’s love affair with alternative cryptocurrencies and fight off the threat from Chinese dragons like Alibaba and Tencent.

Link: https://www.finextra.com/newsarticle/33156/mizuho-bank-prepares-roll-out-of-proprietary-digital-currency

Your bank doesn’t have an effective AML system? JP Morgan Chase was just fined with $1.6 for having a not efficient AML practice

Carmen Chu, executive director (enforcement and AML) of the HKMA, says: “A bank must have procedures that are effective for the purpose of carrying out its duties under the AMLO [Anti-Money Laundering and Counter-Terrorist Financing Ordinance].

https://www.bankingtech.com/2019/01/jp-morgan-chase-fined-by-hong-kong-regulator-for-money-laundering-fails/

Payment methods

Discover the preferred payment methods in key markets around the world.

North America

North America (the US, Canada and Bermuda) is home to over 357 million people with a total GDP of 19.6 trillion USD. There are currently 223 million people shopping online, with 30 million more new users expected by 2021.

Rumors say: Microsoft ditching their Edge browser to use Chrome.

The true story: Microsoft is not giving up on Edge.

Quite the opposite — as a result of the change Edge will probably become available for Macintosh and Linux. Microsoft is giving up on EdgeHTML, which is the rendering engine that Edge uses. All rendering engines do exactly the same thing: they produce a DOM (document object model) from an HTML string according to the HTML5 specification.

When Microsoft replaces EdgeHTML with Chromium, there will be no change in the user experience, except that all the Google fanboys will have no basis for whining. Not that they ever let facts slow them down.

Microsoft is not building a browser based on Chrome.

Chromium is not Chrome. It’s FOSS with a licence that removes Google’s legal and technical opportunities for sabotage, developed in the open. Using it makes it straightforward to port Edge to all the platforms for which Chromium is available.

New features appear first in Chromium, and the better ones eventually appear in Chrome. If Edge replaces EdgeHTML with Chromium, new features and bugfixes will consistently be available in Edge before they appear in Chrome.

So the outcome of this will be

• Cross platform availability of Edge
• Perfect compatibility with the tested scenarios
• Edge will be first to market with all the new toys
• Reduced development costs and lead times for Microsoft

Straight from Microsoft:
https://blogs.windows.com/windowsexperience/2018/12/06/microsoft-edge-making-the-web-better-through-more-open-source-collaboration/#lCWuVG2ItQOy1ikp.97