Erste Bank has selected Finantix technology for multi-country use as part of its core banking renewal strategy, in order to implement common customer facing processes, in several languages, currencies and countries. Erste Bank has undergone rapid growth in eastern Europe in the past few years by acquiring some 10 banks in countries such as Slovakia, Czech Republic, Serbia, Hungary, Ukraine, Romania and Croatia. While its member banks now have opportunities in expanding markets, in some cases they also face euro transition challenges, hence the requirement for a software solution. Finantix’s technology aims to provide local banks with the ability to tailor their banking processes to specific market requirements. With the new technology, Erste Bank should be able to handle both the immediate euro accession requirements and ongoing, market-driven demands.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
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Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.