Meeting the need for speed
Real-time payments systems and infrastructures are being rolled out globally. What impact will they have on financial institutions? How fast is too fast? Daily News at Sibos asked delegates where the trend is heading …
PayTech
Banks face ‘death by a thousand cuts’
Oracle has launched the Oracle Banking Digital Experience, which it describes as the end result of a five-year project to build the ‘next generation’ of banking platform. Ashwin Goyal, group vice-president and general manager at Oracle Financial Services, said banks would not have to make “major changes” to their core systems as a result of the new platform.
Swift adds structure to unstructured data
Swift has launched an analytics service that provides users with a deeper analysis of their payments and letters of credit (LC) data over Swift. Watch Banking Analytics Premium is a part of the Watch for Banking services range, a set of online reporting and analytical tools that allow users to look into their institution’s message content to better understand the value behind messaging activity.
People on the Move: Jeff Lipa, Arroweye Solutions
Card marketing and production service provider Arroweye Solutions has named Jeff Lipa vice president of business development.
People on the Move: Steven Turowski, The Bancorp
The Bancorp has hired Steven Turowski as executive vice president, chief risk officer.
Company on the Move: Global Transaction Banking Solution, formerly Fundtech
DH Corp., a provider of technology solutions to financial institutions globally, announced that it has rebranded Fundtech as its new Global Transaction Banking Solution (GTBS) business.
Company on the Move: Ingenico Group, Smart Card Alliance Recognition
Ingenico Group, a global payment solutions provider, has received the Smart Card Alliance “Center of Excellence” designation for 2015—its second year in a row.
People on the Move: Thomas Tesmer, JetPay Payment Services
JetPay Payment Services, a division of JetPay Corp., has appointed Thomas Tesmer chief operating officer.
People on the Move: Will Gaybrick, Stripe
Stripe, which specializes in mobile and online payments technology, has appointed Will Gaybrick chief financial officer.
People on the Move: Pam Brodsack, The Members Group (TMG)
Payments processor The Members Group (TMG), a credit union service organization, has hired Pam Brodsack as chief technology officer.
People on the Move: Jack Dorsey and Adam Bain, Twitter Board
Twitter’s board of directors has appointed Jack Dorsey CEO and named Adam Bain chief operating officer.
CPI Card Group and Worldpay Go Public (Oct. 13, 2015)
CPI Card Group rang the bell to open Friday trading, signifying the Littleton, Colo.-based card producer’s initial public offering. The company is trading its common stock on the Nasdaq Global Select Market (ticker symbol: PMTS) and the Toronto Stock Exchange. “This is an exciting time for us, our shareholders, our customers and our employees, as […]
IDology Inc. Forges Strategic Partnership with Payfone to Increase Mobile Commerce Security (Oct. 13, 2015)
Atlanta-based IDology Inc., is augmenting its ammo to battle against fraudsters in the mobile payments and e-commerce channels with a strategic investment in Payfone Inc., combining IDology’s online identity verification and fraud prevention services with Payfone’s mobile security services with a new service, ExpectID Mobile, to verify customers’ identities in the mobile space.
Millennials Stressed, but Confident about Money (Oct. 13, 2015)
Money is a significant source of stress among millennials, with financial concerns affecting their emotional and physical well-being, personal relationships and work performance, a new report says.
The instant catalyst
Immediate payments are acting as a catalyst for banks to add value and develop holistic payment solutions. In this extract from World Payments Report 2015, the impact of immediate payments on banks’ offerings is examined
Keeping it real
Global interoperability of real-time payments systems will require harmonisation of market practices and standards.
Systemic risk a top priority, says DTCC
The securities industry is beginning to “think more deeply” about the systemic risk associated with interconnectedness, said Michael Bodson, chief executive of the Depository Trust and Clearing Corporation (DTCC).
Securities forecast good, despite headwind
While the fundamentals for growth in the securities industry are good, market participants face challenges in taking advantage of these fundamentals, delegates heard yesterday. Speakers mulled the question of how regulated securities markets could return to growth, given the various headwinds they face.
JSE brings STP to bond confirmations
In an effort to reduce operational risk, improve automation and straight through processing the Johannesburg Stock Exchange (JSE) has been engaging with the investment management community and Swift to automate the bond confirmation process. A collaborative effort has resulted in the implementation of MT515 messages over Swift on behalf of the respective bond brokers.
Ericsson to connect banks, telcos and the unbanked
Using Sibos as a springboard into the wider financial services community, mobile technology giant Ericsson is hoping to persuade more banks to join Peru’s La Asociación de Bancos del Perú (Asbanc). The Association connects unbanked consumers, telcos and banks together to offer a full range of services across the globe.
D+H adopts Ripple distributed ledger to reduce costs
Financial technology company D+H is to implement distributed ledger technology from Ripple into its global payment services hub Global Payplus, in a deal the firm says will reduce costs and improve liquidity. Under the agreement, financial institutions that use Global Payplus, such as global banks, will link to a secure distributed ledger accessible with permission […]
Credit set to be the next area for disruption
Credit – the single biggest revenue driver among financial institutions – is set to be the next area where financial institutions will be disrupted. Innovation is very likely in this area and it will affect banks, said Udayan Goyal, co-founder and co-managing partner of Apis Partners, a private equity asset manager.
Blockchain potential explored
Two major European central securities depositories (CSDs) are investigating the potential of distributed ledger technology for asset settlement and reference data applications. London-based Credits is working with the CSDs on a proof of concept (POC) for the use of distributed ledger technology.
Technology trends in financial services
Blockchain, data analytics and mobile payments are among the technologies having the greatest impact on financial services, panelists in yesterday’s technology trends session agreed. In terms of development, as Commerzbank chief information officer Stephan Mueller described it, mobile and data analytics are “already there”, while blockchain is still in the beginning.
Move over Silicon Valley, the Chinese are already here
China is leading the world in financial technology innovation, Piyush Gupta, chief executive of DBS Group said yesterday. In a pro-China, pro-Asia plenary speech, Gupta highlighted a number of technological advances and was also positive on the economic prospects for the region. “Jamie Dimon said in his annual report Silicon Valley is coming. I tell […]
Chips off the old blockchain
The distributed ledger is one of the hottest topics in financial services. Born out of the crypto-currency bitcoin, the blockchain concept has gone mainstream and the first area to feel the impact is likely to be payments.
Progress made on Sibos 2014 initiatives
A year on from Sibos 2014, several initiatives announced at that conference are making rapid progress, highlighting the increasing drive towards industry collaboration and the shift towards member-owned utilities in some key areas, including collateral management and client onboarding. They also highlight the continued rise of cloud-based connectivity, especially between banks and corporates.
Coming in from the cold
Fostering innovation in financial technology has become a much more collaborative affair: global banking giants are courting small technology start-ups in the hopes of gaining a competitive edge in financial services …
Infrastructures back Swift ISO 20022 harmonisation proposals
Major financial market infrastructures (FMIs) and central banks have thrown their weight behind a Swift initiative to prevent further fragmentation of the ISO 20022 messaging standard as its adoption grows by signing a charter backing principles to harmonise implementations.
Caught in the crossfire
Cyber attacks cost little to perpetrate, but plenty to prevent. A focus on external and internal factors will help financial institutions to mitigate the threat.
Europe’s unsettling times
T2S, Europe’s harmonised settlement platform, is live. With a series of migration waves scheduled up until full live operation in July 2017, the next few years are likely to be characterised by intense activity as market participants finalise their strategies …
The Big Red Dot: a guide to Singapore
A prosperous, clean and safe place to visit, Singapore also offers a wide variety of culinary delights.
FIS Sibos15 Supplement: OPEN MIND
Click to launch the full edition in a new window Publishing Software from YUDU
Half of UK online transactions now made on a mobile device
Mobile transactions continue to increase their share of the market, accounting for up to half of online transactions, according to a new report by global payments technology company Adyen.
MasterCard Exec Sees ‘Network of Wallets’ as M-Payment Options Expand (Oct. 8, 2015)
The recent surge of mobile payments services including Apple Pay, Android Pay and Samsung Pay is impressive, but what’s more significant is that payments-enabled mobile devices are on track to expand tenfold over the next five years, creating major challenges and opportunities for developers of consumer digital wallets, said Matt Barr, MasterCard’s group head, North America, emerging payments, speaking at this week’s NFC Solutions Summit in Phoenix.
Samsung’s LoopPay Breached; Verizon Supports Samsung Pay (Oct. 8, 2015)
There’s never a good time for a data breach, but yesterday it was reported that LoopPay, a subsidiary of Samsung Electronics Co., suffered an attack on its network.
