Fed Vice Chairman Resigns
Fed Chair Janet Yellen needs a new No. 2. Today, Stanley Fischer submitted his resignation as vice chairman and as a member of the Board of Governors of the Federal Reserve System.
Fed Chair Janet Yellen needs a new No. 2. Today, Stanley Fischer submitted his resignation as vice chairman and as a member of the Board of Governors of the Federal Reserve System.
Facebook-owned IM service WhatsApp reckons it might finally be able to make some money by charging businesses for clever access to their punters, reports Telecoms.com (Banking Technology’s sister publication). Apparently quite a lot of people already use WhatsApp around the world to interact with shopkeepers and other relatively simple business transactions such as placing orders, […]
French bank BNP Paribas wants to help merchants “kiss goodbye” the costly, time-consuming and complex task of managing multiple, incompatible domestic acceptance systems. Enter global standards.
Dubai-based Mashreq Bank will revamp its banking services in the UAE with the help of NCR technology over the next six months. NCR says Mashreq will be the first in the region to deploy its tablet-based Interactive Banker, which lets tellers come out from behind their counters to help customer’s complete transactions. Sandeep Chauhan, head […]
Fiserv’s Portico core processing system has gained three new takers in the US: Montana Health Federal Credit Union, Port Conneaut Federal Credit Union and Southwest Oklahoma Federal Credit Union.
Small-business lending platform Funding Circle has become a Financial Health Network member of the Center for Financial Services Innovation.
The wait is over. The 2017 Pay Magazine – Awards Issue is here. In this special issue, you’ll find out more about the programs, companies and two individuals that walked away with top honors from this year’s competition.
Austrian commuters with a sweet tooth may be able to save some money on their next train or bus fare thanks to Wirecard’s new digital voucher platform and a partnership between Austrian Federal Railways and Toffifee candymaker Storck.
Our Top 5 Challenger Bank spotlight series is complete. Get to know the challengers—Cashplus, Varo Money, Revolut, Capital on Tap and Fidor Bank—looking to shake up the status quo with tech and a superior customer experience.
Fintech zeitgeist! This week Loraine DeBonis, editor-in-chief of Banking Technology’s sister site Paybefore, muses on all the money changing hands in the payments industry.
Kiwibank, New Zealand’s fifth largest bank, is conducting a “strategic review” of its implementation of SAP’s core banking and payment software – a large-scale project known as CoreMod.
It’s been seen as the ultimate clash of cultures. The baseball cap and T-shirt versus the formal suit and tie; the young, quick-thinking fintech versus the risk-averse multinational corporate; David versus Goliath.
Welcome to fintech central! Good service operating on all lines. The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
We celebrate the best of the best in the competitive prepaid, retail & loyalty, and payments technology industries for our 11th annual Pay Awards.
Two reports ranking U.S. consumer prepaid cards were released in August. Find out which cards made the lists and why.
Commonwealth Bank and Mastercard are working together to improve financial inclusion for Indonesian women with a focus on business owners.
US tech giant Fiserv has completed its acquisition of Monitise, a UK-based mobile payments software and solutions provider.
The Federal Reserve has a new payments strategy director. Dave Sapenaro will lead payment system improvement initiatives described in the regulator’s “Strategies for Improving the U.S. Payment System” paper published in January 2015.
With the arrival of new regulations, there are two main options for banks: they can choose to become either “data donors” or “data seekers”. These two positions imply opposite approaches to the new banking market that is in prospect, and sharply contrasting mentalities.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
ShopKeep doesn’t just want to help small businesses accept payments, it wants to help them grow with a new merchant cash advance service.
The scandal of employees at Wells Fargo creating 2.1 million fake bank accounts and credit card numbers to boost sales figures has just gotten bigger.
The UBS-led effort to create a digital cash model for payments and settlement on blockchain has got six new banks onboard, according to the Financial Times. As Banking Technology reported in August last year, BNY Mellon, Deutsche Bank, ICAP and Santander joined UBS and Clearmatics to advance their utility settlement coin (USC) concept, and plan […]
Our final spotlight article for our Top 5 Best Challenger Banks list is the only actual bank in the bunch. See how Germany-based Fidor Bank stacks up against the high street banks and its nonbank competitors.
The land of the rising sun is seeing a rising number of start-ups power up as they hunt for fintech glory. According to Nikkei Asian Review, 46 tech companies have gone public in Japan so far in 2017, with the full-year total seen reaching 80 to 90. The highest tally in the last decade was […]
Get a sneak peek at what trends will shape the discussion at FinovateFall, including a few things you might not expect.
For reasons that probably lie in the lack of a marketing and sales budget, the acquisition of payments provider Bantam Banana (don’t ask) by fintech behemoth Moby Trick (founded by Merman Helville) has prompted a flurry of comments from companies that have sweet F.A. to do with the event. Financial terms of the acquisition were […]
Amazon and Microsoft have announced their previously competing voice-driven artificial intelligence (AI) assistants are now an item, reports Telecoms.com (Banking Technology‘s sister publication). The world can be a lonely place for virtual assistants. All the company they have are demanding millennials constantly asking what their latest email is or a retiree wondering what the weather […]
Eftpos Australia, the nation’s most widely used debit card payments system, has unveiled its new eftpos Settlement Service (eSS). According to Eftpos, eSS enables the centralised settlement of CHQ (cheque) and SAV (savings) transactions processed via the Eftpos Hub. Paul Jennings, Eftpos acting CEO, says the implementation took 18 months and with all members now […]
Google has responded strongly to Apple’s front-running approach to augmented reality (AR) with the launch of a new AR platform, reports Telecoms.com (Banking Technology‘s sister publication). ARCore is the Android equivalent to the Apple ARKit; in short, an AR reality platform for developers. It’s not the first time Google has had a crack at the […]
Earthport, a London-based cross-border payments network, has named Beau Andersen as head of Europe.
Summer’s almost over, but there’s still time to play in the sand. Our decision to open our sandbox for all developers, not just clients, is a vital move in supporting creativity and innovation in payments. And, it’s speeding time to market.
UK payments system Bacs is asking for public feedback on how to improve the nation’s Direct Debit product. Bacs says usage is at an “all-time high” and lavishes praise on it. What a surprise. However, its 2016 consultation identified where it might be able to make improvements and “any changes will need to be carefully […]
Blackhawk Network Inc. keeps getting bigger. The Pleasanton, Calif.-based global technology company, has acquired digital gifting specialist CashStar Inc. for approximately $175 million in cash.
Meet our No. 1 on the Top 5 Best Challenger Banks list and find out why CEO Rich Wagner says the company belongs there.
GasBuddy, a smartphone app helping nearly 70 million drivers find the best gas prices, has unveiled Pay with GasBuddy, a new payment service in partnership with WEX that provides U.S. drivers with discounts.
Prospective buyer Urban FT, which first announced its desire to acquire mobile app technology company Digiliti Money (DGLT) on 16 August, reports that its revised offer for the company has been rebuffed. DGLT has been silent since 14 August when it announced the delay of its second-quarter earnings report, pending an internal investigation and floating […]
Do you want fries with that? France-based Capgemini is likely to hear that phrase a lot more now that it’s signed a multiyear IT strategic provider agreement with McDonald’s Corp. Meanwhile, Burger King Russia is jumping on the cryptocurrrency bandwagon.
The Monetary Authority of Singapore’s (MAS) new Payments Council plans to set up interoperable electronic payments and has unveiled a taskforce to develop a common QR code for the city-state. As reported earlier this month, the Council launched and comprises 20 people from banks, payment service providers, businesses, and trade associations. MAS says the setting […]
Klarna is having quite a summer. It reported sales and profit results for the first half of 2017 that represented gains of 21% and 138%, respectively, reports Finovate (Banking Technology‘s sister company). The strong financials come amid a series of headlines that show the Swedish payments company making strides on a number of fronts. This includes […]