People on the Move: Wayne Grosse, Joan Opp and Kent Oram, CO-OP Financial Services’ Board
Three new members have been elected to CO-OP Financial Services’ board of directors: Wayne Grosse, Joan Opp and Kent Oram.
Three new members have been elected to CO-OP Financial Services’ board of directors: Wayne Grosse, Joan Opp and Kent Oram.
Financial services firms should get a grip on their risk management and make more use of the data available to them as part of a two-way process in gaining user trust and building new revenue streams.
Limonetik, a Paris-based global digital payments provider, has expanded internationally with a new subsidiary in the U.K., Limonetik UK Ltd. The company also has appointed Clive Williams managing director and Masha Cilliers principal consultant.
PSCU, a credit union service organization, has added two members to its board of directors.
Payments processor The Members Group (TMG), a credit union service organization, has announced a new vice president, as well as the promotions of two employees.
According to Cisco there are 15.5 billion devices connected to the internet, ranging from routers to telemetry devices, power grid controllers, smartphones and perhaps the odd toaster. Other than in retail situations this so-called Internet of Things does not immediately seem to have much to do with the financial services industry. John Bates thinks otherwise, and sets out why in his recent book Thingalytics.
Regulatory compliance might be a fact of life for every financial institution, but it can be very challenging when competitive pressures come in to play. Software-based services are often now the primary means of contact between a company and its customers; IT is no longer a back-office support function
The growth of mobile money has been a steep upward curve and looks set to continue – Juniper Research predicts that there will be one billion mobile banking users worldwide by the end of 2017, up from 590 million in 2013. A recent Forrester report predicted that purchases on mobile devices would double by 2018, as even more people become comfortable buying online and retailers create more user-friendly mobile experiences
The race to accelerate payments heated up this week with the introduction of MasterCard Send, a new platform enabling the rapid transfer of funds by businesses, merchants, governments, nonprofits and card issuers to consumers via debit network rails.
With enviable annual growth rates across Europe—27 percent from 2010-2017—providers tapping new market opportunities, and digital and physical channels converging, prepaid is destined to become everyday money, according to Jason Field, head of prepaid product management, Europe, MasterCard.
Apple may have a hard time exporting its Apple Pay business model to Europe, where interchange revenue is much lower than in the U.S.—and about to get lower.
Customers of India’s Axis Bank are now able to send money to each other through Facebook, messaging apps Twitter and WhatsApp, email and phone contact lists using Ping Pay, a multi-social media app developed by Fastacash, a Singapore-based social payments vendor.
Improve your customer’s experience with Hybrid IT Banks must compete fiercely for new customers and to hold onto the ones they have. That means consistently meeting customer expectations, which is no easy task given the speed with which those expectations are evolving, particularly in terms of Internet and mobile interactions. Banks need to deploy technology […]
Banking technology vendor Misys has launched an Islamic banking platform called Misys FusionBanking Essence Islamic, as part of a plan to capitalise on the 17% annual growth in Islamic banking worldwide.
Alibaba, the China-based e-commerce giant, appears to be sharpening its focus on the U.S. payments arena.
Walmart is making bold moves with mobile payments in China, where it’s signed on with e-commerce giant Alibaba to accept mobile payments via the Alipay Wallet in 25 of its 410 Chinese outlets, the Arkansas-based retailer announced this week.
Financial services providers are beefing up their risk management capabilities in the wake of the increasing threat of cybercrime and fraud, a new report says.
Starbucks customers last week noticed their purchases were costing a lot more than expected after hackers exploited the Starbucks app’s auto-reload function that’s connected to consumers’ payment cards, according to reports.
PayPal, reportedly, has agreed to a consent order with the CFPB that would require the company to refund $15 million to consumers who were affected by alleged practices that included, among others, enrollment without authorization and deceptive advertising for its PayPal Credit program, previously known as BillMeLater.
The NBPCA supports the CFPB goal of protecting consumers, but the proposed rule doesn’t differentiate between prepaid products that serve different needs.
Three-quarters of market participants use the FIX protocol for confirmation and affirmation of their transactions, according to a new survey released by financial industry standards body the FIX Trading Community.
Whatever label you use, instant, immediate, faster or real-time payments have moved to the top of the agenda at every payments-related event so far this year and are sure to be high on the agenda when Swift’s annual Sibos event lands in Singapore in October. Nearing the halfway mark for 2015, here’s a roundup of the stories so far …
The proposed rule includes numerous provisions applying to checking and prepaid card accounts established by colleges or universities on behalf of students or parents for disbursing financial aid.
Samsung is terminating its mobile wallet service at the end of June, paving the way for Samsung Pay, its mobile payment service for Android devices.
Proximity payment transaction volume is estimated at $7.5 billion this year and is expected to grow gradually before skyrocketing to $487 billion in 2020, according to an Aite Group report.
The Biometrics Institute, Mobey Forum and Natural Security Alliance have launcehd a cross-association collaboration to promote the use of biometrics in digital services. The organisations plan to have their inaugural meeting, on biometrics for non-government services, in Paris on 1 July.
Financial services organisations can, and do, prevent many criminal acts through adequate controls, proper supervisory procedures, and sophisticated detection and incident management technology. However, there are a handful of shortcomings that derail the best preventive measures and result in negative news headlines and increased regulatory scrutiny for individual employees and entire institutions alike
Agents of Change: Innovators Talk Disruption vs. Evolution; The Apple Pay Effect; EMV Readiness Report; Market Snapshots: Brazil & Italy; 2015 Paybefore Awards: The Best in 26 Categories; Who Are You Wearing?
Accenture and Moven, the online-only bank founded by Brett King, have signed a deal to jointly develop new digital banking services — including services for the established banks. The two firms say their partnership will be useful to the larger banks because it will help them to cut costs and roll out digital services to their customers faster.
PayExpo 9 & 10 June 2015, ExCeL, London www.payexpo.com “If meeting our customers’ needs means we should embrace alternative currencies and payment methods, then we should listen and adapt,” says Terry Cordeiro, Head of Proposition Development – Digital, Transformation at Lloyds Bank. He said this when discussing banking and payments issues ahead of his presentation […]
The window of opportunity to harmonise international real-time payments implementations is rapidly closing as plans for domestic systems move ahead according to panellists at the EBAday conference this week.
The International Swaps and Derivatives Association has launched UTIPrefix.org, a service that enables counterparties to obtain a unique trade identifier (UTI) prefix for derivatives trade reporting.
On the background of a recent study revealing that UK mobile banking users are set to double to 32.5 million by 2020, banks need to tailor their customer experience models heavily towards mobile devices, with the fundamental focus on creating a “mobile-first” strategy, if not the more radical “mobile-only” strategy
Emerging technologies, consumer preferences and e-commerce innovation are giving rise to the next evolutionary step for gift cards: SKU-level rewards and promotions.
Regulation has the potential to accelerate the payments innovation sparked by the evolution of internet and mobile technologies. By giving customers the reassurance that payments can be made safely and efficiently, regulation allows providers to develop new and exciting ways to serve customers
Reactions to the new Apple Watch range from ecstasy to ennui for most consumers, but here’s why this product might be a holiday hit.
Retailers are changing the shopping experience. It’s quite clear that the future will be a far cry from your mother’s shopping trip, and payments providers will have to innovate to keep up.
LevelUp is trying something it says is a first in the U.S.—enabling users of its mobile payments platform to charge in-store purchases to their mobile phone bills, beginning with Sprint customers.
The Danish government wants to eliminate the obligation of accepting cash for certain retailers—expediting a move toward a cashless economy some government officials believe will reduce costs and increase productivity for affected businesses.
Financial services firms have always faced market volatility, but new challenges are forcing most to rethink their traditional operating models in favor of outsourcing. The expanded use of outsourcing models will help improve revenue and create new business opportunities