Can the right combination of self-service device management, cash management and end-to-end transaction monitoring enable banks to embrace enterprise-wide performance awareness, and take a holistic approach to managing their multi-channel banking environments?
A decade ago, one of the driving factors behind outsourcing was reducing cost and headcount. However, with the growing regulatory and compliance burden, firms are increasingly becoming more cautious about outsourcing.
Visa Europe says that it will roll out its V.me by Visa in the UK this year, having secured commitment from 55% of the UK’s card issuance base, which accounts for more than 60 million card holders, and thousands of the UK’s retailers. It will now be commercially available to the majority of internet shoppers in the UK before the end of 2015.
http://d36omcu95vpmg5.cloudfront.net/webinars/2015/Misys_May2015.mp4 Digital innovation is disrupting the retail banking industry worldwide. Many perceive the trailblazers to be the hot start-ups – creative, legacy-free, pioneering the latest digital and analytics technologies. But established ‘traditional’ banks have the opportunity to reinvent or reinvigorate their brands in the digital world – with an already captive audience and decades […]
As mobile handsets become more prevalent as a tool for retailers, for payments, loyalty and engaging with consumers in and out of the store, security of sensitive data becomes increasingly more important.
By following simple principles and incorporating solid processes and tools the IT budgeting and forecasting process can be a source of value to both the IT department and the businesses it serves
Mobile startups are changing the way customers interact with financial services around the world. Tier one banks know this, and are keen to get a piece of the action. This week, companies from EMEA demoed at the Citi mobile challenge in London in the final stage of an annual event that takes in hundreds of financial startups around the globe.
At first glance the message for banks from the latest World Retail Banking Report 2015 looks like very bad news for traditional banks. Globally, customers’ propensity to leave their primary bank is on the rise while their willingness to make referrals or buy additional products from their primary bank has decreased significantly.
ABN Amro plans to implement the Temenos WealthSuite integrated wealth management platform for its international private banking business. It will also be able to extend the use of the T24 core system to its private banking and diamond & jewellery business, giving it one platform with one operating model across multiple business lines.
Exchange technology vendor Cinnober has invited financial IT companies to participate in a new Financial IT Quality Assessment initiative, which is intended to generate a public, industry-wide framework for quality assessment of financial software. The initiative is an attempt to restore shaken confidence in the sector and avoid further regulatory pressure.
Africa and Asia are the centres of innovation in payments, with the developed markets of the US and Western Europe lagging behind, but the trend is towards domestic offerings rather than regional or international ones, says the latest Payments Innovation Jury Report.
Open APIs offer the promise of a better, more efficient and more inclusive financial services world. But delegates at the Swift Business Forum in London voiced frustration about the speed and direction of progress being made during a session on the topic.
Real time payments ‘innovation’ is in fact simply capitalising on advances that first appeared four decades ago, according to panellists at the Swift Business Forum this week. Since then, progress has been glacial in many places. So why has it taken so long to get real time payments?
New trade reporting requirements that would require banks and other capital markets participants to demonstrate best execution through data will impose massive costs and will not provide an equal level of benefit, according to senior executives speaking at the Swift Business Forum in London this week.
European banks and CSDs will be forced to change their business models under relentless pressure from Basel III, CSDR and T2S. That may involve consolidating services, as well as considering opportunities for collaboration, according to Henri Bergström, head of global post trade solutions at Nasdaq.
The US Federal Reserve hopes to have a report on how to create a faster payments infrastructure by the end of next year and has begun processing the 325-plus applications it has had from would-be participants in its task force for faster payments.
David Bannister, Editor at Banking Technology, interviews Jerry Norton, Head of Strategy UK Financial Services, CGI.
The UK Faster Payments experience is providing some guidance for the US Federal Reserve’s efforts to move beyond its slow ACH system, but it should take a different approach, according to a speaker at the Nacha Payments 2015 conference in New Orleans this week.
More than 300 organisations have applied to participate in the US Federal Reserve’s task force for faster payments, Sean Rodriguez, senior vice president for industry relations at the Chicago Fed, said yesterday at the Nacha conference in New Orleans.
Customer driven innovation is powering change in the payments industry. Real-time Payment infrastructures (RTP) – whether they are called Faster Payments, Immediate Payments or same-day clearing – are now a reality, with many countries having implemented RTP functionality, and others actively considering the imminent roll-out of RTP projects in their domestic market.
At the Recent Payments International conference in London, Patrick Griffin, EVP Business Development at RippleLabs talked to Banking Technology editor David Bannister about the technology and puts paid to some misconceptions about the Ripple protocol.
The number of UK mobile banking users is set to almost double from 17.8 million to 32.6 million by 2020, according to a new report commissioned by Fiserv. Online banking is still growing too, the research found.
Financial messaging and data integration specialist Volante Technologies has taken a step into the world of packaged products with the launch of VolPay Foundation, a development platform “designed to ease the challenges of payment integration and payment processing projects”.
Innovation in a mobile real-time world will be to the fore in the discussions as the US payments industry gathers at Nacha Payments 2015 to consider the opportunities and challenges against a background of rapid technological and regulatory change. What can those embarking on project learn from those who have already been there?
Financial institutions face an unprecedented array of threats including traditional fraud, ATM skimming and cash harvesting, as well as more sophisticated cyber threats and online hacking. This online webinar will explore how video-driven analytics can be used to provide insights into business vulnerabilities and to protect against fraud and other types of threat.
Broker crossing networks will be heavily affected by upcoming European Commission rules on dark trading. But with 18 months to go until implementation, uncertainty still unnerves brokers and asset managers – prompting some market participants to re-examine whether they want to trade at all.
CounterpartyLink, a provider of legal entity intelligence for buy- and sell-side institutions and law enforcement agencies, has announced CPL Hierarchy Profile, a new product designed to provide a single view of the client across complex client groups.
NCR has announced a radical new approach to ATM network deployment, with cloud-based enterprise application allowing banks to control and manage thin-client devices running a locked-down version of the Android operating system.
Banks and asset managers are being forced to learn to live in a world of greater specialisation, as unbundling of research and execution drives greater competitive pressure on costs. That is probably a good thing – but it will take the buy-side and the sell side in different directions, according to senior executives speaking at the TradeTech conference in Paris this week.
Security specialist RiskIQ says the growth in digital business is producing an increasing threat to banks across the world, with the largest banks owning an average of 7,500 public facing digital assets – 60% of which are outside the company firewall.
Royal Bank of Canada has made the first cross-border Renminbi payment on Canada’s new RMB Trading Hub through the hub’s designated clearing bank, Industrial & Commercial Bank of China (Canada).
Buy-side firms stand to gain from developing their own smart order routers and carrying out their own capital markets research. But the growing independence of the buy-side must still be weighed against sell-side advantages of scale, according to speakers at the Trade Tech conference in Paris on Tuesday.
Boat Services, the OTC trade reporting service provider owned by technology vendor Cinnober, plans to introduce a MiFID II compliance solution, offering publication services for all instrument classes. It will apply for authorisation by the FCA in the UK when Approved Publication Arrangement registration is available in 2016.
Türk Ekonomi Bankası, one of the private sector commercial banks in Turkey, and a strategic partner of BNP Paribas, has launched an enhanced digital banking service featuring the ability to hold live chat sessions with bank staff.
IG Group has launched a trading app for the Apple Watch, which it says is one of the first of its kind. The Apple Watch is due to be released on 24 April.
Finnish online-only bank Holvi has partnered with GBGroup, an identity intelligence specialist, as part of a drive to ensure that all its customers are verified while reducing the time this process takes. Holvi does not operate any branches, and as such relies on other methods to confirm the identity of its customers.
Rewiring the Markets Is regulation making capital markets more efficient? Don’t bet on it … Procurement Policies Learn to love the annual budgeting process Supplier management Balancing cost and manageability in supplier sourcing Learning from experience What to look for as real-time payment systems proliferate unstoppable evolution How changes in payments will make some banks […]
To maintain growth in our globalised, always-connected and increasingly regulated world, banks need to use digital assets and capabilities to create new value propositions for their customers, we know. The problem is how? And what is the best way of doing so in the face of what some worry could be a complete fracturing of the market due to the rise of non-traditional competition from possible banks like a Google or an Amazon?
Two enhancements to the Current Account Switch Service (CASS), announced in the Chancellor’s Autumn Statement last December, have been successfully implemented by the banking industry.
Immediate payments have been available for some time now. The UK led the way with the launch of the Faster Payments Service in 2008 and other countries have followed, including Sweden, Singapore and Mexico. Real-time technology is fundamental to any mobile payments initiative and immediacy is the new norm of the digital age. Other countries can learn from the UK experience to avoid pitfalls and realise the benefits sooner.
