Panin Bank, a retail and business bank in Indonesia, has launched new digital banking products and services using Fiserv’s Mobiliti and Corillian Online. Ken Ng, director of retail banking, Panin Bank, says Fiserv has allowed it to develop an “innovative, feature-rich and integrated digital banking service that consumers have come to expect in the modern […]
Visa has filed a lawsuit against Walmart in a dispute over customers’ use of signatures or PINs to verify purchases with EMV-equipped debit cards at Walmart. Last month, Walmart sued Visa, claiming the payments network required the retailer to offer EMV debit users the option of signature or PIN verification in violation of the Durbin Amendment.
The sale will give Blackboard control of Higher One’s CASHNet platform, which provides billing and payments services to more than 700 campuses and millions of students across the U.S.
That would provide some long-awaited certainty to financial service providers and tech companies like Google and Facebook that handle consumers’ personal information.
The Services Family bank will cater for the UK military personnel, veterans and their families. Sopra Steria’s technology will underpin its operations. The digital bank is being created by The Services Family Ltd (TSFL), a financial services firm set up two years ago by two military veterans. It is going through a process of obtaining […]
Deutsche Börse is to provide the IT infrastructure for German private bank Donner & Reuschel, and will assume administration and hosting for its data centres. In addition to connecting to its own trading platforms, Eurex and Xetra, network connectivity will also be extended to bank end users and additional third-party providers. “Deutsche Börse provides our […]
Bottomline Technologies has launched its Universal Aggregator for payments and the accreditation of its “Faster Payment” processing capability. Bottomline Universal Aggregator has been designed to give banks, corporates, governments and non-financial banking institutions an “easy plug-in” to an array of payment clearing and settlement systems around the world. The “first-of-its-kind” service provides a single interface […]
India’s third largest private sector bank, Axis Bank, has launched a new innovation lab, becoming the first domestic bank to do so in India. Dubbed “Thought Factory”, the lab is aimed at accelerating the development of innovative technology solutions for the banking sector and is expected to work closely with the start-up community. Thought Factory […]
FICO, an analytics and decision management software provider, has acquired US cyber risk security scoring firm QuadMetrics. The deal will help FICO further develop its Enterprise Security Score, which ranks an organisation’s level of cybersecurity risk. The transaction has closed and terms have not been disclosed. Doug Clare, vice-president of cybersecurity solutions at FICO, says […]
Hackers have used the Swift network to steal $10 million from an unnamed Ukrainian bank, according to an independent IT monitoring organisation that spoke to the Kyiv Post. This latest incident is part of a spate of thefts when the banks’ access to the Swift network was used to execute them. Recently, investigators said they […]
BookingBug says Yorkshire Building Society (YBS) has become “the first truly omnichannel mortgage provider” with its new system that enables booking appointments in branch, online, mobile and call centres. UK-based BookingBug specialises in appointment scheduling and event management software. The new system has centralised data across 3,000 staff in 200 branches at YBS, and cut […]
Android Pay has launched in Singapore, making it the first country in Asia to get the system. Pali Bhat, senior director of product management at Google, says Singapore was chosen as the third market worldwide after the US and UK due to the number of mobile phone users and highly developed infrastructure. Android Pay will […]
Fujitsu has built an accounting system that complies with International Financial Reporting Standards (IFRS) for the Central Bank of Myanmar. The Japanese firm says it has systemised journal entry, including functions for automatically generating accounting entries, and all sorts of forms. These were previously done manually by bank employees. This accounting system was built by […]
Wirecard AG has been making numerous deals and acquisitions over the past several months to expand its global footprint, but today’s news that it has entered a definitive agreement to acquire Citi Prepaid Services puts it firmly on the map in North America.
U.S. Sens. Sherrod Brown (D-Ohio) and Bob Menendez (D-N.J.) are demanding answers from Green Dot, MasterCard and Walmart about a May outage that left Green Dot-issued Walmart MoneyCard customers without access to certain prepaid services. The senators also asked MasterCard to distinguish the circumstances between the Green Dot outage and the one RushCard experienced October 2015 when it switched to MasterCard’s processing platform.
The companies say they will make accepting online payments easier for the more than 20,000 business customers who use Microsoft Dynamics software in 13 markets.
First filed in 2011 by a consortium of consumers, independent ATM operators and the National ATM Council, the suit alleges that payment networks’ ATM fee policies suppressed competition by barring ATM operators from offering discounts to users who transact via networks other than MasterCard or Visa.
In fiscal year 2015, 98 percent of the $3.98 trillion remitted to the Treasury Department’s Bureau of Fiscal Services came through electronic payments.
Oracle has launched its cloud-based Oracle Banking Collections tool – offering lenders a look at debtors’ total financial pictures and features. The firm says each year financial institutions (FIs) “waste millions of dollars attempting to solve their debt collection problem with the age-old tactic of throwing third party debt collection agents who may use decades-old […]
CTO Mark Hipperson, who was also the bank’s co-founder, has recently left Starling. Prior to moving to Starling, Hipperson was a long-standing GM at a UK-based IT consultancy firm, BJSS. Earlier in his career, he was head of technology at Barclays’ corporate banking division (1992-2000). According to FT, this was his comment on his departure: […]
Toronto-based Overbond, a bond issuance market provider, has launched an end-to-end platform and support framework for primary bond origination – the “first” fully-integrated platform to connect bond market issuers, dealers, and fixed-income investors. The digital platform provides transparency, price discovery and investor diversification for all counterparties in the primary bond market, the firm says. “We […]
US-based banking software heavyweight Jack Henry has launched JHA Marketplace for shared core customisation. The online store enables banks to access and exchange applications related to workflow automation, “flexible” data integration, and other “performance-driving” functions. JHA Marketplace will be filled with a range of PowerOn applications. PowerOn is Jack Henry’s utility allowing a bank’s IT […]
Following an unsuccessful attempt to implement Third Financial’s Tercero platform and the subsequent market search, LGT Vestra has decided to keep its incumbent solution, JHC Systems’ Figaro. Figaro will continue to support front, middle and back office operations of the UK and Jersey-based wealth manager. The company was known as Vestra Wealth until recently. In […]
The London-based subsidiary of South Africa’s banking group, FirstRand Bank, is live with a new regulatory reporting solution. The software is supplied by specialist vendor AxiomSL and supports the bank’s production and submission of statistical reports required by the Bank of England (BOE). AxiomSL has been providing its BOE reporting solution to financial institutions in […]
Hundreds of UK-based jobs at Visa are in danger following the fallout from Brexit, according to Sky News. Sky News says it “has learnt that an agreement in the recent £17.5 billion takeover of Visa’s European operations by its American sister company included a stipulation that data from Visa card transactions should not leave Europe”. […]
US-based banking software heavyweight Jack Henry & Associates and its Symitar subsidiary are busy with a number of core software projects across the US. Jack Henry converted Georgia-based Bank of Newington and Wisconsin-based Cleveland State Bank to its Windows-based Core Director platform. Both banks decided to replace their previous core systems and multiple third-party vendor […]
Grocery giant Kroger Co. has filed a lawsuit against Visa Inc. over the payment network’s rules for verifying EMV debit card transactions. First reported by the Wall Street Journal, the suit is based on similar issues as those in a legal challenge by Walmart, which sued Visa in May.
This week marks a couple of “firsts” for two mobile wallets. Android Pay has launched in its first Asian country, and UnionPay International’s QuickPass mobile wallet took its first step outside of China.
Vodafone has expanded its global money wallet and money transfer services via programs involving PayPal and MasterCard.
QikServe, which sells mobile ordering and payment services, has released QikServe5, which the company said caters to the hospitality sector. Mobile ordering, particularly order-ahead features, have been more prevalent in the QSR industry thus far.
US-based Federal Home Loan Bank of Topeka (FHLBank Topeka) has selected OpenLink’s debt and derivatives solution Findur as it looks to improve operational efficiency. With $45.2 billion in assets, FHLBank Topeka is one of 11 privately-owned, federally-chartered banks and provides wholesale loan services to 768 institutions across four US Midwestern states. The Kansas-based institution, which […]
IBM has opened a new Bluemix Garage in New York, to offer the city’s developers, entrepreneurs, and fintech firms the use of blockchain on the cloud. The garage will be located at Galvanize’s (a network of campuses) newly launched New York campus. IBM says this location in “this tech learning community for students, start-ups and […]
Swift has revealed 73 banks worldwide have now joined its global payments initiative for cross-border payments. The latest to join are Alfa-Bank, Axis Bank, Banco de Crédito del Peru, Banco do Brasil, Bangkok Bank, Bank of Nova Scotia, Banque Européenne d’investissement, CaixaBank, Canadian Imperial Bank of Commerce, Credit Agricole, CTBC Bank, E.Sun Commercial Bank, Fifth […]
Wells Fargo will launch real-time person-to-person (P2P) transactions in the US – for more than 17 million mobile customers. Beginning 1 August, the service will allow Wells Fargo’s customers to send funds in real-time at “no cost” to any customer of a bank that participates in the real-time service, which operates on Early Warning’s clearXchange […]
This great infographics, created by BTC Media, maps out the bitcoin and blockchain ecosystem of 2016 – it is a crowded metropolis! Click on the image to enlarge. Source: BTC Media, LLC
American Express is partnering with Facebook to provide an Amex bot for its card members in Messenger. The concept will allow Amex card members to sign up to receive real-time notifications about their purchases, and information about card benefits and services related to those purchases. For example, if a member purchases an airline ticket, the […]
Shortly after the narrowly decided vote for the U.K. to leave the EU (or Brexit) was announced, a trade association is urging the U.K. government to protect U.K.-based financial services providers and a petition calling for a second referendum has nearly 4 million signatures.
A new partnership with Facebook will enable American Express to interact with cardholders via Facebook Messenger. Unveiled at the Cannes-Lions International Festival of Creativity in Cannes, France, the initiative features an American Express messenger “bot” that sends cardholders real-time purchase notifications and information about card benefits and services related to those purchases.
Green Dot Corp. has announced the appointment of William I Jacobs as chairman of the board of directors, effective June 23, 2016. Jacobs takes the helm following the company’s May decision to split the roles of chairman and CEO—both of which had been held by Steve Streit—after a lengthy proxy battle with shareholder Harvest Capital Strategies.
Symitar, a credit union software subsidiary of Jack Henry, has teamed up with a think tank, BIG, for an initiative called Financial Innovations Voice Experience (FIVE). FIVE explores the possibilities that voice-based personal assistants such as Amazon’s Echo and Microsoft’s Cortana can bring to banking. Symitar’s Episys core processing system is being integrated with these […]
