Urban FT buys iParse to speed mobile app onboarding for FIs
Mobile banking technology firm Urban FT has completed its acquisition of iParse LLC
Mobile
More human than human: banking’s AI future is all in the voice
Aditya Challa of IMImobile takes a look at some current and future applications of artificial intelligence (AI) for customer experience in the financial and banking sector, as well as the challenges that still need to be overcome. Beyond the current race to build chatbots, he predicts that voice-driven AI services will ultimately become the main […]
Monzo gently rolls out current account
Mobile-only challenger bank Monzo is taking it nice and easy with a steady roll-out of its current account. The bank, which received its full UK banking licence in April, says it’s been using the current account internally and today (17 July) is now inviting some of its customers to join and “help put it through […]
PayPal Teams with Samsung Pay
The partnerships keep coming for PayPal. Following recent news that the company is partnering with Apple for payments on iTunes and in the App Store, the company announced July 17 that it’s expanding its partnership with Samsung to enable PayPal as a payment method in any channel Samsung Pay is accepted.
Jenius digital bank gets clever with Finastra
Jenius digital bank, part of Indonesia’s Bank Tabungan Pensiunan Nasional (BTPN), has chosen Finastra’s (formerly Misys) FusionBanking Essence Digital platform. Peterjan van Nieuwenhuizen, head of digital banking at BTPN, says it has “built a system that enables our customers to complete basic banking processes without going to the branch”; and with an “expanding middle class […]
mVisa Takes on M-PESA with Free Domestic Mobile Money Transfers
Move over M-PESA, customers of a Visa-led bank partnership in Kenya will be able to send money to each other domestically without paying transaction fees using mVisa, and the payments network has added additional in-store merchant acceptance for the QR-code-based payment method.
New partnership turns PayPal into Apple App Store payment option
One small step for consumer choice in e-commerce. One giant leap in PayPal’s quest to be the payment option of choice for shoppers online, reports Finovate (Banking Technology’s sister company). This week the company announced a partnership with Apple to allow shoppers pay for their purchases at the App Store using PayPal. The feature will be available for users […]
Apple Deal Puts PayPal One Step Closer to Ubiquity
One small step for consumer choice in e-commerce, one giant leap in PayPal’s quest for ubiquity. The company announced a partnership with Apple to enable shoppers to pay for their purchases in the App Store, iTunes, Apple Music and iBooks using PayPal.
Amex Taps Virtual Cards for Business Travel Expenses
American Express is the latest payments company to recognize the benefits of enabling virtual account numbers for business travel. The addition of virtual account numbers enables businesses to set usage dates and pre-authorize spending limits at the time of booking, helping reduce fraud and encourage compliance with company travel policies, Amex said.
Altice puts squeeze on Orange with bank move
In a copycat move that will come as a blow to Orange, rival Altice plans to launch its own online bank by early 2019 in the countries in its network footprint, according to a report from Reuters that cites a source close to the matter. Light Reading (Banking Technology’s sister publication) reports that the launch of […]
Fintech Funding Roundup: Revolut, Curve, Pixoneye, Gridspace
And the money keeps rolling in for fintech. U.K. challenger bank Revolut announced a $66 million investment it will use to introduce new features and expand globally, starting with Asia and North America. Meanwhile, Santander InnoVentures, the bank’s fintech venture capital fund, has added U.K.-based Pixoneye and Curve and U.S.-based Gridspace to its portfolio.
FitPay and Mastercard take prepaid to wearables and IoT
FitPay Inc, a US-based provider of payment, credential management and authentication platform services, is planning to offer prepaid capabilities on wearable and other devices connected to its FitPay Payment Platform.
Financial Resources FCU revamps online mortgage tech with Roostify
Financial Resources Federal Credit Union in the US state of New Jersey has implemented Roostify’s mortgage technology platform.
Wirecard opens European POS to Chinese travellers with Tencent deal
Wirecard and Tencent are working together to give European retailers access to more than 938 million active WeChat and Weixin users by enabling QR code payments at the POS, reports Paybefore (Banking Technology‘s sister publication). The mobile payment solution, WeChat Pay, has more than 600 million active users, which is equivalent to nearly 40% of […]
Volkswagen finance arm invests in AutoGravity
Volkswagen’s finance arm, VW Credit, has agreed to make an equity investment of an undisclosed amount in auto financing platform AutoGravity.
Wirecard Opens European POS to Chinese Travelers with Tencent Deal
Wirecard and Tencent are working together to give European retailers access to more than 938 million active WeChat and Weixin users by enabling QR code payments at the POS.
Citi Pay lands in US with Masterpass
After launching in 2016 in Singapore, Australia and Mexico, Citi Pay has arrived in the US.
Citi Pay Lands in U.S. with Masterpass
After launching in 2016 in Singapore, Australia and Mexico, Citi Pay has arrived in the U.S. and is enabling tokenized payments via existing online credentials.
Top fintech stories this week – 7 July 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Banking Technology July/August 2017 issue out now
Set sail for fintech! The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
More money misery for Monzo with £6.7m loss
Mobile-only challenger bank Monzo has reported a loss after taxation of £6.7 million in its latest financial results. For the year ended 28 February 2017, the firm’s directors do not recommend a final dividend. In fact, it has got worse compared to the 2016 full year results. There was also no final dividend because the […]
Just in case you need a reason: why participate in Banking Technology Awards?
This year’s Banking Technology Awards are taking place on 13 December in London and there are plenty of reasons why you and your team should be a part of this prestigious event. Besides having a good chance at winning, entering the Awards also allows you to: Make global headlines in the industry if your entry […]
Fintech funding round-up: 4 July 2017
There’s no lacking of backing. Our latest fintech funding round-up features Tide, Instarem and IntellectEU. UK-based mobile banking firm Tide, which launched in January, has raised $14 million in its Series A investment round. The round has been led by specialist fintech investor Anthemis, alongside Creandum, the Scandinavian fund that has backed companies including Spotify […]
Barclays online and mobile banking down again
Barclays Bank has been hit yet again by online and mobile banking glitches. Today (3 July), the bank reported the problem on Twitter saying it’s “aware of an issue with our online banking”. Hi Mark, we’re aware of an issue with our online banking and we’re working as fast as we can to put a […]
Orange Puts Bank on Hold amid Struggle to Get it Right
Orange has put the brakes on its ambitious plans to venture into the world of mobile banking after finding the proposition doesn’t quite meet its standards.
Case study: BankMobile – bank of the future NOW
How did BankMobile become the largest digital bank in the US? Luvleen Sidhu, the bank’s co-founder and chief strategy officer, shares the strategy.
Orange puts bank on hold as it struggles to get it right
Orange has put the brakes on its ambitious plans to venture into the world of mobile banking after finding the proposition doesn’t quite meet the standards.
Fintech funding round-up: 30 June 2017
A handy round-up of who’s investing in what in the fintech space. Featuring Revolut, Tango Card and ClauseMatch.
Top fintech stories this week – 30 June 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
PFS deal to provide Moneymailme users with prepaid cards
Users of Moneymailme will have the option of using physical and virtual prepaid cards to make purchases with the funds in their e-wallets. The new feature, announced June 28 at the Money 20/20 Europe conference, is the result of a partnership between the London-based social money transfer provider Moneymailme and Prepaid Financial Services, a U.K.-based payments technology provider.
P2P Is Gaining Steam, but Security Concerns Remain
Consumers prefer to use P2P payments for retail purchases, paying back relatives and friends, and settling bills—but not so much for contributing to group gifts or paying housing costs, according to a new report from NerdWallet. It also found that that while only 35 percent of U.S. consumers use such P2P products as Venmo, PayPal and Square Cash, 63 percent are interested in the payment technology.
Investment Roundup: Visa Buys Stake in Klarna; Revolut, Tango Land Financing
Investors continue to show strong interest in fintech-based payments services providers, as Visa acquires an equity share in fast-growing Swedish e-commerce specialist Klarna, and startups Revolut and Tango Card land significant financing rounds.
Money20/20 Europe: a finale for financial inclusion
For the finale of the final day of Money20/20 Europe, financial inclusion was discussed with resolute optimism for a bright future.
Nets and Sthaler team up for finger-vein enabled payments
London-based biometric tech vendor Sthaler is working with Nordic payments provider Nets to introduce finger-vein enabled payments to the consumer market in Europe.
Association of Banks of Singapore launches PayNow mobile payments service
The Association of Banks of Singapore (ABS) has unveiled a new funds transfer service – PayNow – that requires only a mobile and identity card numbers to enrol.
Alipay comes to Spain with BBVA
BBVA has signed an agreement with Chinese tech giant Ant Financial to enable Chinese tourists to pay in Spanish stores using the Alipay mobile wallet. BBVA is the first Spanish financial institution to be working with Alipay.
Money20/20 Europe: PSD2 Creates More Questions than Answers
On June 26, artificial intelligence captured the imagination of some at Money20/20 in Copenhagen. But during the June 27 sessions on the second day, it was like I had stepped back in time to November 2016, reported Deputy Editor Antony Peyton. Last year, at the Payments International conference in London, PSD2 left some in the payments industry confused as to where the risks and opportunities lie.
Payscout Launches Virtual Reality Commerce with Visa’s Help
Retail payments have taken another step into the future. Payment processor Payscout has launched a virtual reality system that employs Visa Checkout and enables consumers to examine products before ordering them for delivery to shoppers’ homes.
Flywire Snags PayPal for Cross-Border Payments
Cross-border payments and receivables specialist Flywire has added PayPal to its platform as a funding option, enabling businesses, students and patients to fund cross-border payments via PayPal accounts. PayPal now is available as a payment method for Flywire users in the U.S., Canada, U.K. and European Union, Flywire said.
Study: Americans Uneasy about Finances Provide Opportunity for Financial Service Providers
One-fourth of Americans say they have too much debt, with 96 percent of them reporting they are financially stressed, according to a survey by the Center for Financial Services Innovation to gauge Americans’ financial well-being. While those statistics are bleak, they should signal an opportunity for banks, credit unions, fintechs and other companies to provide products, services and guidance to improve consumers’ financial stability, according to Jennifer Tescher, founder and CEO of CFSI.
