Emirates, NND merge

The technology platforms of Emirates Bank and the National Bank of Dubai in the UAE will be fully integrated by the first quarter of next year, says Khaleej Times Online.

The merger between the banks, announced earlier last year, has resulted in the region's largest bank by asset size.

"To effect the merger, Emirates NBD is one of seven tier one and tier two banks globally to implement Finacle Version 10, the core technology-banking platform offered by Infosys, " Haragopal Mangipudi, VP and business head of Finacle said at the product's global launch.

Iflex Solution will provide banking software solutions to Europe's Volkswagen Bank for the Netherlands region, says NDTV Profit.

In a statement to the Bombay Stock Exchange on Thursday, iflex said the solution would also allow Volkswagen Bank to deliver Web-based services to its dealers and customers.

NRK Raman, CEO and MD of the company, said: "Daybreak Lending Suite (the software solution) has been extremely successful in EMEA (Europe, Middle East and Africa) region and most of the financial institutions have found it to be a safe investment."

Union Bank of California has introduced a newly-enhanced Homeowners Association lockbox service that now includes Las Vegas as a collection city for HOA assessment payments, says Fox Business.

Union Bank's HOA Lockbox Service is tailored to the specific needs of the associations and their property management agents for the collection, processing, and deposit of monthly assessment payments.

"We now have three collection cities for HOA Lockbox Service and the plan is to continue expanding our coverage to other cities across the country," said Mark Reider, senior VP and manager of the HOA banking unit.