The Bank-FinTech Collaboration Model Goes Global

With more financial institutions (FIs) turning to external third-party FinTechs to strengthen their small- to medium-sized business (SMB) and corporate offerings, the collaboration model is proliferating across national borders.

This week’s look at the latest in bank-FinTech collaboration includes new partnerships in Australia, South Africa, India, Pakistan and across Europe, with many FIs bolstering the foundations of their SMB-serving infrastructures.

National Australia Bank Chooses Eedenbull

National Australia Bank (NAB) has chosen Eedenbull to integrate its payment and spend management technology for SMB customers. NAB will add Eedenbull’s Q Business platform to its offering to help SMBs track and manage spend, as well as to automate compliance controls. The collaboration is part of Eedenbull’s efforts to expand globally after having secured 65 banking partnerships across Europe, according to a report.

BNL Goes Live With Tink

Italy’s BNL, part of BNP Paribas Group, has debuted its multi-banking solution developed in conjunction with open banking FinTech Tink, according to a press release. Now that BNL’s account aggregation feature is live, the companies are collaborating on the launch of a money management tool for BNL customers designed to provide greater clarity into overall finances for commercial clients.

Absa Group Collabs With Surecomp

South Africa-based Absa Group is working with Canada-based Surecomp to develop new trade finance initiatives across Africa, a press release said. According to Surecomp, its trade finance technology will be able to address the bank’s biggest challenges of more demanding regulatory and compliance requirements, while ensuring that the underlying trade finance infrastructure is integrated in both the front- and back-offices.

ICICI Adds AlignBooks Technology

India’s ICICI Bank is adding accounting technology from AlignBooks to strengthen its SMB services. Current account holders at ICICI Bank can now link their bank account data into AlignBooks software to automate data entry and streamline reconciliation. The partnership also enables SMBs to access their account information even when they do not have an internet connection.

Caixa Geral de Depósitos Chooses Backbase

Portugal’s largest bank, Caixa Geral de Depósitos (CGD), is working with Backbase to implement the FinTech’s engagement solution, according to an announcement. The FI aims to wield Backbase tools to create digital banking channels across its operations, with its focus first landing on SMBs. CGD’s initiative will create a fully digital onboarding system for new SMB customers and support an all-around more agile, digital infrastructure for the bank to quickly react to rising customer demands.

TBI Bank Partners With NETOPIA Payments

In an effort to strengthen its offerings to SMBs, Romania’s NETOPIA Payments is integrating a lending feature from Bulgaria’s TBI Bank. The collaboration will connect SMB users of NETOPIA to an online business loan from TBI from directly within the Netopia platform, a report said. SMBs can receive a decision on their application within a day and use the funds to bolster working capital.

Komerční banka Taps Temenos

The Czech Republic’s Komerční banka, part of the Société Générale Group, has chosen FinTech Temenos to digitize its retail and corporate banking operations, according to an announcement. Temenos offers a core banking platform for FIs that includes deposit account and lending capabilities. As part of the bank’s modernization initiatives, Komerční will deploy Temenos technology to strengthen its core system and lay the foundation to integrate additional products and functionality for its customers, including SMBs.

Bank of Khyber Links With Temenos Too

Temenos struck another bank collaboration with Pakistan’s Bank of Khyber, according to a press release. The FI adopted Temenos’s Transact core banking technology, as well as its Infinity digital banking platform and Financial Crime Mitigation and Analytics tools. Reports said the bank’s digitization effort aims to enhance its SMB, corporate and retail operations.