Luxembourg-based fund administrator Alter Domus has selected Swiss core banking vendor Temenos and its Multifonds platform to support the expansion of alternative investments to retail investors. Alter Domus picks Temenos’ Multifonds platform With the European Commission’s European Long-Term Investment Fund (ELTIF 2.0) regulations coming into play earlier this year, the investment firm says it wanted to quickly implement a platform “that could manage a significant increase in transaction volumes” and automate and streamline its investment operations. Having come into force at the start of th ..read more

Temenos says it has completed a “thorough independent external review” into previous allegations of client dissatisfaction and accounting irregularities made in a report by Hindenburg Research earlier this year, with the now published review determining “that Hindenburg made a series of inaccurate and misleading allegations about Temenos and its accounting, products, and client relationships”. Temenos completes independent review of Hindenburg Research allegations First released back in February, Hindenburg Research says its report followed a four-month investigation into Temenos ..read more

Swiss banking software provider Avaloq has announced that its co-CEO, Thomas Beck, is retiring and will therefore be stepping down from his position at the company following a three-year tenure, effective immediately. Avaloq’s new group CEO Martin Greweldinger (left) and outgoing co-CEO Thomas Beck (right) Avaloq has confirmed that its other co-CEO, Martin Greweldinger, will now assume the position of sole group CEO. The Zurich-headquartered enterprise says that Beck will provide support to Greweldinger in a senior advisory capacity during the transition period. The pair became co-CEOs of th ..read more

UBS SuMi Trust Wealth Management Company, the joint venture between Swiss banking giant UBS and Tokyo-headquartered Sumitomo Mitsui (SuMi) Trust Holdings, is set to acquire the Japanese wealth management business of Credit Suisse. UBS SuMi Trust Wealth Management Company to acquire Credit Suisse WM business in Japan The joint venture was launched by UBS and SuMi Trust in August 2021 and is one of five business entities UBS operates in Japan, alongside UBS Japan Securities, UBS AG Tokyo Branch, UBS Asset Management (Japan), and UBS Japan Advisors. The terms of the purchase have not been ..read more

The Bank for International Settlements (BIS) has announced plans for a public-private partnership between several central banks and the private financial sector to explore the potential benefits of tokenising cross-border payments, labelled Project Agorá. BIS unveils plans to explore cross-border payments tokenisation Project Agorá will see seven central banks from around the world – Bank of England, Bank of France, Bank of Japan, Bank of Korea, Bank of Mexico, Federal Reserve Bank of New York, and the Swiss National Bank – work together in partnership with several private sector partic ..read more

PostFinance, the financial services division of Switzerland’s national postal service, has partnered with fintech Rivero for its disputes management tech. PostFinance taps Rivero for dispute management tech The arrangement will see the bank leverage the Zurich-based start-up’s Software-as-a-Service (SaaS) solution Amiko. Launched via API in March 2021, the solution provides issuing banks with a case management suite comprising a dispute engine for handling fraud reports and payment disputes, and a front-end chatbot service. Confirming the deal via LinkedIn, the vendor says the integration wi ..read more

Oman Housing Bank (OHB) has tapped Swiss vendor Temenos to modernise its core banking platform. OHB taps Temenos for its core banking solution The Omani bank is replacing its legacy system with Temenos’ cloud-native platform as it looks to launch new card and deposit products. The vendor has tasked its partner, Systems Ltd, with implementing the microservices-enabled solution via the Oman Country Model Bank. Lee Allcorn, Temenos’ regional MD for the Middle East and Africa, explains that by leveraging the Swiss firm’s “pre-configured, localised capabilities”, OHB stands to gain from an improv ..read more

At FinTech Futures, we know that it can be easy to let funding announcements slip you by in this fast-paced industry. That’s why we put together our weekly In Case You Missed It (ICYMI) funding round-up for you to get the latest funding news. ZayZoon bags $15m Canada-based ZayZoon, an earned wage access (EWA) provider for SMBs, has raised $15 million in an extension of its Series B round held last September – bringing the total amount raised during the round to $49.5 million. The fundraising round was spearheaded by Viola Fintech, with participation from new backer Intuit Vent ..read more

Dutch revenue-based financing marketplace Levenue is looking to boost its operations in Switzerland by acquiring MidFunder for an undisclosed sum. Levenue acquires MidFunder for undisclosed sum Based in Zurich, MidFunder provides non-dilutive capital for digital businesses through its revenue-based financing platform, which leverages data from accounting and revenue growth to power its underwriting process. With a focus on delivering funds at speed, the fintech says this approach is targeted at companies which might otherwise face “enormous difficulty in securing funding from traditional fin ..read more

Metropolitan Bank and Trust Company (Metrobank), a universal bank based in the Philippines, has partnered with Swiss banking solutions vendor Temenos to implement its private wealth management offering. Metrobank partners Temenos for wealth management tech The Makati-headquartered bank will implement the Temenos Wealth solution to enhance its private wealth unit, which currently offers investment advisory, wealth planning, trust and fiduciary services, among others, to high and ultra high net worth clients and their families. Temenos says its offering will provide the bank’s wealth managemen ..read more