Deutsche Bank has made two leadership appointments to its fintech innovation team. Elly Hardwick will become head of innovation for the bank, while Philip Milne has been named chief technology officer (CTO) for innovation.
GlobalPlatform, an industry body which standardizes the management of applications on secure chip technologies, has launched a China Task Force to give Chinese members and all GlobalPlatform members with business interests in China a dedicated platform to identify and agree on requirements from the region and work directly with Chinese industry and standards associations.
Blockchain-based financial settlement solutions provider Ripple has named Miguel Vias as head of XRP markets.
Cloud-based m-POS solutions provider ShopKeep has appointed Crystal Caligiuri as the company’s new senior vice president of operations and customer care.
India-based National Commodity and Derivatives Exchange (NCDEX) has launched NextGen – a new trading and surveillance system developed by MillenniumIT (a trading tech subsidiary of London Stock Exchange).
Most of the talk around Samsung Pay’s new points-based loyalty program has been about whether it can spur mobile wallet adoption. But the in-app delivery of a virtual prepaid rewards card could mark a substantial shift for the incentives business, according to Brad Garfield, global product head for Citi’s corporate and public sector prepaid cards.
IBM has unveiled a blockchain ecosystem “to help accelerate the creation of blockchain networks”. The programme “is designed for innovators looking to build real networks – venture capitalists, start-ups, systems integrators, independent software vendors and enterprise developers”.
Private & Commercial Finance Group (PCFG) has received its banking licence from the UK regulators. It is now authorised with restrictions as a bank and enters into a mobilisation period of up to 12 months.
Germany-based mobile bank N26 is taking its business fully across 17 European countries, including Spain, Italy, Greece, Ireland and Slovakia. Until now, some of these locations were in the “soft launch” phase.
A UK-based peer-to-peer (P2P) lending platform, Folk2Folk, has received full authorisation from Financial Conduct Authority (FCA).
Housing and Development Bank (HDB) in Egypt has gone live with new core banking software, Temenos’ T24. The new system ousted an in-house legacy development that “had been deeply customised to cater for HDB’s specific requirements”, according to Temenos.
IBM Watson has launched a testing programme for its cyber security tech, which includes 40 companies from various sectors worldwide. On the financial services side, participants include Sun Life Financial and Sumitomo Mitsui Banking Corporation.
Fraud prevention is driving payments acquisition activity, with two major moves by the networks in the last two weeks. American Express has acquired InAuth Inc., a provider of mobile device authentication and intelligence solutions, which follows Visa’s announcement of its plans to acquire e-commerce authentication specialist CardinalCommerce, which operates the largest authentication network in the world, according to the company.
Western Union continues to expand its presence in the mobile vertical with an investment in Walletron Inc., a provider of mobile wallet bill presentment and payments services. The investment follows a deal struck between the companies earlier this year, under which Western Union’s Speedpay electronic bill payment service began offering biller clients the option to incorporate Walletron’s moBills platform.
PayPal and Google’s Android Pay are making the holidays more festive with new promotions, but will they lead to more consumer usage? PayPal says it’s making its P2P payment service “more personal and heartfelt,” while Android Pay is offering U.K. users a free gift when they use the mobile wallet for purchases.
Cybercriminals have stolen about $31 million from Russian Central Bank accounts, according to a Reuters report. The hackers broke into bank accounts after faking a client’s credentials, a bank spokesman said at a briefing, disclosing few other details. In a separate instance, Russia had recently warned about a plot by foreign countries to wage cyberattacks on its financial institutions.
Whether it’s digital coupons, next-generation mobile apps or using augmented reality technology to enhance shopping, have no doubt: That future is here and it’s all about engagement. Paybefore sat down with Amy Parsons, vice president and head of global commerce, Discover Global Network, to get her take on what’s ahead.
UK-based core banking and anti-money laundering (AML) software vendor International Financial Systems (iFinancial) is implementing its AMLtrac solution at Global Fidelity Bank.
UK-based Metro Bank says it has become the first high street bank to join the Faster Payments Scheme (FPS) since its launch.
Bank of Lithuania, the country’s central bank and regulator, promises to provide preliminary answers to financial institution licence enquiries within one week, “the fastest turnaround in the EU”.
Alipay, one of the world’s largest online and mobile payment platforms, has inked deals with BNP Paribas, Barclays, UniCredit, and SIX Payment Services to drive the European expansion.
LandlordInvest, a peer-to-peer (P2P) lending platform for buy-to-let and bridging loans, has gained full authorisation from the UK regulator, Financial Conduct Authority (FCA).
Hackers have stolen RUB 2 billion ($31.4 million) from correspondent bank accounts at Bank of Russia, the country’s central bank.
A new core banking software vendor, Leveris, looks to raise €15 million from international venture capital firms, and is working with stockbroker Davy on the transaction.
Blackhawk Network said Dec. 5 that it will “integrate gift cards, e-gifts, loyalty and rewards programs into Apple Pay,” a move that could make the mobile wallet more attractive to consumers.
Visa Inc. has acquired e-commerce authentication specialist CardinalCommerce in a move the payment network called a bid to amp up security for online and mobile transactions and reduce fraud. Visa already provides Cardinal’s services to merchants and acquirers through its CyberSource enablement platform.
Three of the four major U.S. networks have pushed back the EMV liability shift for fuel pumps three years. The cost of EMV migration at the pump—which is more extensive and complex than POS changes and can require pump replacement—now can be spread out over a longer implementation period, Randy Vanderhoof, director of the U.S. Payments Forum, tells Paybefore.
Fintech companies seeking charters would have to fulfill multiple requirements under the proposal, including performing core banking services.
Business commerce and supply chain finance platform Tradeshift has got an investment from Santander InnoVentures.
Our dazzling event gathered together over 260 banking and financial technology specialists from all over the world – recognising the excellence and innovation in the use of IT in financial services, and of course the people that make it happen!
Amazon Web Services (AWS) has launched Financial Services Competency to certify its partners that specialise in the financial services space.
The Office of the Comptroller of the Currency (OCC) in the US intends to grant federal bank charters to fintechs.
Comtrade Digital Services has built an automated banking platform that enables users of online/mobile messaging platform Viber to perform a range of banking operations entirely through a chatbot.
Australia-based financial services group MyState has gone live with new digital platform, built by domestic vendor Rubik Financial.
Myanmar-based Myanma Apex Bank (MAB) has selected JMR Infotech as its core banking managed services provider. For its core banking system MAB uses Oracle FSS’s Flexcube.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
DBS Bank will automate its business spend management with Coupa Software’s cloud-based platform.
The Bancorp is doubling down on its commitment to fintech, unveiling plans for a new dedicated fintech innovation and development studio. Dubbed Cube8, the division will serve as a space where Bancorp will “explore unconventional–even radical–ideas in financial technologies” with the goal of creating changes or new opportunities to bolster the company’s business strategies, operational efficiency and incremental revenue, Bancorp said.
Mastercard is employing artificial intelligence to improve the accuracy of real-time transaction approvals by minimizing false declines and fraud. Decision Intelligence, Mastercard’s decision and fraud detection service, is available across all markets for all Mastercard brands and products, according to the company’s Dec. 1 announcement.
Financial services providers that work with FIS will be able to ramp up their real-time payments capabilities quickly now that the company is integrating with Early Warning’s Zelle Network P2P service. Using FIS PayNet and the financial technology provider’s open payment framework, the P2P service will be offered as part of FIS’s other real-time payment services, such as digital e-gifting, bill payment and external transfers.
