Unisys Corporation’s New Zealand subsidiary has revamped the Co-operative Bank’s IT infrastructure using Unisys ClearPath Forward systems. Unisys says ClearPath Forward provides “enhanced security” for client and business information, as well as scalability to support the addition of new services. In addition, it says ClearPath ePortal, an automated application modernisation solution, will support the bank’s […]
Warren Humphries has joined M&S for Business, the corporate services arm of U.K.-based department store chain Marks & Spencer, in the role of client relationship manager.
Green Dot Corp. has named Brooke Norton Lais to the position of chief marketing officer.
India-based digital payment platform Freecharge has appointed Govind Rajan as its new CEO.
Dean Schlader has joined the RPG Card Services as vice president of retail services.
Payments technology provider Currency Cloud has appointed Fiona Tee to the role of chief financial officer.
Omnichannel digital banking technology provider Backbase has hired Leonore Van Waaij to be the company’s new chief financial officer, heading all of the firm’s financial, legal and compliance operations.
Four of the UK’s biggest high street banks have signed up to launch Zapp’s “Pay by Bank app” mobile payment service. Bank of Scotland, Barclays, Halifax and Lloyds Bank are working with Zapp, VocaLink’s payments innovation team, to deliver the service. David Yates, CEO VocaLink, says the gang of four join a “growing number of […]
Goldman Sachs has recently launched a new digital bank, GS Bank. It accepts deposits from consumers and institutional clients, starting from just $1. Goldman Sachs is understood to be working with Infosys and its EdgeVerve division on this project, with the vendor’s e-Finacle platform as the underlying tech for GS Bank. Infosys’ spokesperson provided a […]
Japan’s Seven Bank has improved security for ATM withdrawals following Japanese banks losing JPY 1.8 billion ($16.8 million) through fake overseas cards. Banks across the island nation are rushing to deal with the fraud, and Seven Bank which operates ATMs in the 7-Eleven convenience store chain, has cut its withdrawal limit to JPY 50,000 ($468) […]
Banco Original, a pure-play digital bank in Brazil has gone live with a new treasury management system, OpenLink’s Findur. The vendor says the implementation was completed in ten months. Findur is the bank’s new cross-asset and treasury solution, integrated with internet banking and handling a range of financial products such as bank certificate of deposit […]
US-based Gemini Bitcoin exchange has expanded its services to Canada. Gemini, founded by the Winklevoss twins (Cameron and Tyler, who were memorably depicted in the film The Social Network), says registered customers in Canada can trade bitcoin (BTC) and ether (ETH) on Gemini’s ETH/BTC order book. Cameron Winklevoss says this is “just the beginning of […]
Cater Allen, a London-based private bank and a subsidiary of Santander, is undergoing a major technology overhaul. The bank is going to implement a new core banking system, Temenos’ T24, Banking Technology understands. It is now looking to recruit T24 specialists and project managers to help it with system customisation and implementation, and migration from […]
Torstone Technology says an unnamed Myanmar-based broker has started using Inferno, its post-trade securities and derivatives processing system. Inferno will process the broker’s post-trade flow of its equities execution business. The system covers the “whole” trade life-cycle from trade capture through to settlement, accounting and reconciliation. Brian Collings, CEO of Torstone Technology, says Asia is […]
China will let foreign payment card firms operate in the country under rules issued on 7 June, according to Reuters. The announcement gives Visa and MasterCard the opportunity to tap into a CNY 55 trillion ($8.4 trillion) card payment market. Both companies have been lobbying for more than ten years for direct access to China’s […]
As we enter a new era in global tax reporting with increasing regulations around tax transparency, Banking Technology and Thomson Reuters have gathered industry views from across the globe to piece together a full picture on the financial market’s readiness for the Common Reporting Standard (CRS) and continued approach to the Foreign Account Tax Compliance […]
National restaurant chain O’Charley’s announced it suffered a security breach that may have exposed diners’ payment card information during a three-week period starting in mid-March.
Penta Bank is a new digital banking player in Germany working towards a spring 2017 launch. Penta’s initial target market will be German and French SMEs. “Our target businesses are funded start-ups and SMEs that are cashless,” says Luka Ivicev, Penta’s head of product. Penta has been in the making since February this year. Usability […]
ACI Worldwide is partnering with UK-based Raphaels Bank, opening up access to the Faster Payments Scheme in the UK for financial institutions (FIs), including challenger banks and payment service providers (PSPs). ACI says its relationship with the bank means FIs and PSPs can use ACI as a “technical aggregator” providing real-time access to Faster Payments […]
Not all Olympic athletes will be coming home from the Rio 2016 Olympic and Paralympic Games with medals around their necks, but they’ll be coming home with rings on their fingers. The first contactless payments ring linked to a Visa-branded GPR account will be given to approximately 45 athletes that are part of Team Visa.
Ride-hailing service Uber has expanded a pilot partnership with Green Dot to all markets in which Uber operates in the U.S.
Prepaid cards accounted for approximately $500 million fraud losses in the past year, translating into 4 percent of U.S. card fraud, an amount that equals $4.70 in fraud loss per card, according to a study released today by LexisNexis Risk Solutions.
With the CFPB’s recently announced NPRM on small-dollar loans expected to have significant effects on the industry, QCash Financial released a white paper to quell concerns credit unions might have about entering the space.
US-based Swirlds has launched its hashgraph distributed consensus platform, an alternative to blockchain, and free for public download and use by developers. Swirlds says it has “emerged from stealth” with the launch and says its hashgraph “goes beyond blockchain”. Dr. Leemon Baird, founder and CEO of Swirlds, says: “Current stock markets are fair in matching […]
A new digital bank for UK businesses and consumers, CivilisedBank, has submitted its banking licence to the regulators, Financial Conduct Authority (FCA) and Prudential Regulatory Authority (PRA). It expects to receive the licence later this year and to open for business in early 2017. Set-up and technology CivilisedBank will not have any branches. It will […]
London Stock Exchange (LSE) and Boat Services have launched Tradecho, a combination of the two companies’ existing and “complimentary” trade reporting services. LSE says by early Q1 2017, Tradecho will provide a single trade reporting venue and “complement” its T+1 MiFID (Markets in Financial Instruments Directive) and EMIR (European Market Infrastructure Regulation) transaction reporting services, […]
Former Barclays CEO Antony Jenkins has set up a fintech firm called 10X Future Technologies. Jenkins, who was sacked by Barclays in summer 2015 for failing to transform the bank quickly enough, has appointed himself as the sole director of 10X Future Technologies. He has refused to comment on what he plans to do with […]
LCH is the first central counterparty clearing house (CCP) to sign up to Swift’s ISO 20022 Harmonisation Charter. The charter is designed to help rollout the ISO 20022 messaging standard and “promote harmonisation”. LCH, which is majority-owned by the London Stock Exchange, is one of 17 financial market infrastructure providers to have “endorsed” the charter, […]
Volante Technologies has launched a new solution – as part of its VolPay Foundation payments platform – for integration with Ripple’s distributed ledger technology. Volante’s software has been Ripple-ready since last autumn, says the vendor, and following “close engagement with Ripple” it has now brought to market an “integration solution wholly designed to simplify the […]
Nets and Istituto Centrale delle Banche Popolari Italiane (ICBPI) have joined forces to launch an instant payments solution in Italy. The new offering is set to go live in Q1 next year. It will be based on Nets’ RealTime24/7 platform and will serve the Italian payment service providers (PSPs). “We will provide to the Italian […]
Members of the financial services industry have launched a media campaign in support of a bill they say would provide better protection of consumer data, bring retailer accountability for data breaches in line with the financial sector and supersede myriad state laws pertaining to breach-notification regulations.
The European Commission has granted final approval to Visa Inc.’s planned acquisition of Visa Europe, with the transaction expected to close by the end of this month, Visa Inc. announced.
The Finnish government and Prepaid Financial Services (PFS) have teamed up to launch a new prepaid platform offering cards for use by the country’s prison inmates. Rolled out in May, the program makes prepaid cards available to prisoners upon arrival at prisons throughout Finland.
The theft earlier this year of $81 million from the Bangladesh central bank account at the New York Federal Reserve has caught the attention of more Congressional investigators. The chairman of the House Committee on Science, Space and Technology, Lamar Smith (R-Texas), has given New York Federal Reserve officials until June 14 to turn over documents related to the incident.
Temenos is closing in on a core and digital banking software deal in Iran, Banking Technology understands. The vendor is believed to be in talks with Ayandeh Bank (Future Bank). The bank offers retail and commercial banking services. The systems on offer are the T24 core banking platform and Temenos Connect for digital channels. No […]
Bangko Sentral ng Pilipinas, the Philippine central bank, is strengthening its cyber security surveillance in light of the recent Swift hacking saga. Nestor Espenilla, the central bank deputy governor in charge of banking supervision, says it wants to reinforce its defences and is also considering regulating Bitcoin firms due to money laundering issues. This development […]
Famous/infamous hacking group Anonymous says it took down the London Stock Exchange’s (LSE) website for two hours as part of a protest against world’s banks. According to the Mail on Sunday, the attack was carried out by a group, within the organisation, based in the Philippines. The newspaper says: “Anonymous claims the incident was one […]
A technical outage of the Amazon Web Services (AWS) cloud this weekend left many customers of Australian banks unable to use cards, ATMs and Eftpos terminals. The banks affected include Westpac, ME Bank and Commonwealth Bank of Australia (CBA). Some also pointed the finger of blame at payment providers such as First Data. Just a […]
Emirates NBD is planning to launch the UAE’s “first” digital bank targeted at millennials. The new bank is part of its three-year AED 500 million ($136 million) strategy to improve its processes, products and services. Shayne Nelson, group CEO of Emirates NBD, says this “digital transformation plan” is its “commitment to the future”. The bank’s […]
Nymbus, a US-based core banking software vendor, has acquired fellow supplier R. C. Olmstead (RCO), to gain a foothold in the Midwest credit union market. RCO comes with 46 customers, all in the low-tier segment. These include Wilkes-Barre City Employees CU, Dover-Phila FCU, McDonald Community FCU, Toledo Metro FCU and Yorkville Community FCU. RCO has […]
