Commerzbank is now live with an integrated set of finance and risk solutions powered by the SAP HANA platform. SAP says the bank has more than 70% of its balance sheet running on SAP Bank Analyzer and SAP Accounting for Financial Instruments. It adds that Commerzbank is able to close its monthly books “significantly faster”, […]
While prepaid cards long have been positioned as transactional tools to help the underbanked make electronic purchases, the future of the sector lies in expanding the definition of prepaid to serve multiple money management needs for a variety of customers—including those who also have a traditional bank account.
Craig James, CEO of London-based compliance consultancy Neopay, delivered a talk at the All Payments Expo in New Orleans on March 22 to help companies eyeing Europe as an international expansion market.
Tuxedo Money Solutions is bringing its Paybefore Award-winning STA Travel ISIC Prepaid MasterCard to the U.S.
Mobile wallets command serious buzz in the payment and retail worlds, but at the All Payments Expo Tuesday in New Orleans, experts pointed out that the technology has yet to gain global traction and consumers will need more from such programs than the ability to make purchases.
US-based Vibrant Community Credit Union (formerly DHCU) has completed its tech overhaul, with Fiserv’s DNA now supporting its core operations and Alkami’s ORB supporting digital banking activity at the front-end. The project was over a year in the making, and coincided with the brand overhaul at the credit union. It was formerly known as DHCU […]
Swiftref, Swift’s global reference data utility, has delivered the IBAN/BIC reference platform for the UK community under the guidance of Payments UK. The project was initiated in early 2015, with Swift commissioned to design and build the platform. Swift says this new Single Euro Payments Area (SEPA) International Bank Account Number (IBAN) Only (Sepaio) central […]
As retailers and brands seek to deepen connections with their customers, emerging payment technologies represent a key opportunity for meaningful engagement with consumers, according to Talbott Roche, president and CEO, Blackhawk Network. Delivering a keynote address on the opening day of the All Payments Expo in New Orleans on Monday, Roche explained how the growing ubiquity of mobile devices and the rise of the connected consumer have created myriad new channels for messaging and engagement.
Federal financial institution regulatory agencies on March 21 issued guidance clarifying the applicability of the Customer Identification Program (CIP) rule to prepaid cards issued by banks.
Speakers at the All Payments Expo in New Orleans report significant gains for the anti-fraud technology. But terminals represent a significant speed bump.
Experts at the All Payments Expo talk up gift cards, and give advice on how to sell programs to superiors. They also set their sights on digital gift cards.
Hong Kong start-up Neat is setting its sights on the millennials’ market and will let customers open a payment account with a selfie. Neat founder David Rosa, a former MD at Citi, says the app and payment card will use facial recognition technology to confirm the holder’s Hong Kong identification card is correct. It’s not […]
This webinar will explore how SWIFT supports the community to reduce the overall cost of ISO 20022 adoption and help members adapt to the standard and exploit the business opportunities.
The All Payments Expo kicks off today in New Orleans! If you’re at the show, the exhibit hall opens at 10 a.m. Be sure to stop by and see Paybefore at Booth 201 and visit our 2016 Awards Winners Showcase to learn more about this year’s Pay Awards winners. Then, join us to celebrate the 10th annual Pay Awards at 6:15 p.m. to find out who will win top honors.
BPC Banking Technologies says New Zealand’s largest retail chain – Warehouse Group – has chosen the SmartVista payments suite for its financial services business. The initiative is called “Warehouse Money” and offers the retailer’s consumers the chance to save 5% on purchases via a new Visa card or earn “purple dollars” via the Purple card. […]
DNB’s “first” peer-to-peer (P2P) mobile payment solution in Norway has become the number one downloaded app in the country. Dubbed “Vipps”, and launched six months ago with Tata Consultancy Services (TCS), it is now used by 25% of Norway’s population. The app is available for use on all mobile devices and it allows short chat […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Deutsche Börse and LSE to merge Two hearts beat as one. D+H Corporation joins US real-time payments rush Catches up with rivals FIS and Jack Henry. Deutsche Bank and Bank of China partner for cash management Becomes first […]
US-based banking and payments software vendor D+H has joined its rivals FIS and Jack Henry in partnering with The Clearing House (TCH) for real-time payments. D+H will provide US banks and financial institutions with access to TCH’s domestic instant payments system. The system is currently being built, with the “plumbing” provided by VocaLink. The vendor’s […]
Efma, an association of 3,300 retail financial services companies in more than 130 countries, and SAP have launched a new online portal to help banks’ SME-related business. The portal – (unsurprisingly) hailed as “innovative” and “disruptive” by its creators – supports banks in developing new apps for their SME clients and also holds competitions to […]
The rise of m-wallets, smartphones and online shopping could be a boon to virtual incentives.
If you’re not analyzing your cardholders’ IVR interactions, you’re missing an opportunity to improve their experiences and engender loyalty. IVR design based on insights from previous interactions is crucial, particularly in prepaid where cardholders rely heavily on customer service.
Smaller banks bent on taking market share from larger rivals can appeal to mobile consumers without going all-in on NFC, at least for now.
Limitless: Next-Gen Commerce Has No Boundaries; Fighting Fraud: Mobile, EMV, Tax Refunds; Securing Mobile Payments; Former CFPB Lawyer: Coping with the Complaint Database; Record-Breaking IPOs, IoT and More
A recent report claiming that heightened anti-tax fraud efforts have led to taxpayers suffering delays in receiving refunds via prepaid cards mischaracterizes the situation, industry observers say.
The hearing followed an announcement from Committee Chairman Reb. Jeb Hensarling (R-Texas) of Republican committee members’ plans to reform financial reform in Washington, including demanding that regulatory agencies undergo a cost-benefit analysis of every regulation.
Banking executives worry the rise of fintech could spell trouble for their institutions, a new report reveals. Conducted by PwC, the survey of 544 CEOs, CIOs and other top managers at financial services providers in 46 countries found that 83 percent of respondents from traditional firms feared disruption caused by new standalone fintech companies could result in the loss of business.
A proposed class-action lawsuit regarding the alleged mishandling of bitcoin accounts in Japan will remain in the U.S., according to a federal court ruling in Chicago this week.
Hackers behind an $81 million theft that involved the U.S. Federal Reserve have cost the leading banking official in Bangladesh his job.
Even as I am prepping for my next industry event, observations from the last conference I attended continue to permeate my thoughts. The ATMIA US Conference that was held in New Orleans only recently and yet, three items continue to have me thinking about the durability, indeed longevity, of some of the points raised. In […]
The mobile-only bank, set to open for business later this year, integrates technology from a Xerox subsidiary into its mobile banking app.
M&A activity continues apace with cross-border B2B payments firm Payoneer completing its acquisition of escrow services provider Armor Payments. Meanwhile, FinTech Studios, which sells fintech software, has bought iUbble, a 2-year-old company whose own software includes a browser for Web and mobile apps.
The CFPB’s latest Supervisory Highlights report is the first to detail the bureau’s examinations of remittance providers since the agency’s rules governing international money transfers went into effect more than two years ago. Next up, Director Richard Cordray’s semi-annual report to Congress.
US-based Payoneer has acquired Armor Payments as it looks to create a “global alternative” to letters of credit (LCs). Armor Payments, co-founded by former PayPal Director, Scott Reynolds, is the “only licensed B2B payments provider offering Escrow-as-a-Service (EaaS)”. Through the acquisition, the new integrated Armor Payments Payoneer Escrow solution will allow B2B buyers and suppliers […]
Blackhawk Network has named Anil Aggarwal to the company’s board of directors.
The new design for the online and mobile payments service promises to increase transactions, according to Visa testing.
Consumers with Amazon’s Echo and other devices can pay their Capital One credit card bills and perform other tasks through the new service.
SAP Ariba and Discover Financial Services have rolled out their B2B payments service, AribaPay, in Canada. Last month AribaPay was launched in the US (also with the help of Discover). And earlier this year, SAP partnered with First Data for a rollout across Europe and Latin America. SAP Ariba says Canadian businesses and consumers pass […]
A $101 million cyber heist has central bank officials from Bangladesh to New York quarrelling over what may be one of the biggest and boldest bank raids in history, according to CNBC. Hackers allegedly breached the Bangladesh central bank’s security system and then pretended to be Bangladeshi officials to send a series of requests for […]
MasterCard’s planned acquisition of VocaLink has the potential to create a new payments powerhouse in Europe and beyond. Tom Hay, head of payments, Icon Solutions, explores the possibilities. The news of the planned acquisition broke a few days after the Payment Systems Regulator’s (PSR) recommendation that banks divest their ownership of the company. I’m sure […]
The UK’s Payment Systems Regulator (PSR) is pushing for more competition in the supply of indirect access to payment systems. In its interim report “Market review into the supply of indirect access to payment systems”, the PSR says work to open up access is “generating increasingly positive results” but wants more. It adds: “Although there […]
