Atom Bank secures mortgage platform ahead of 2015 launch
UK digital-only bank Atom has chosen financial technology company IRESS to provide the basis for its mortgage platform. Atom received its licence in June and plans to launch later this year.
News
“Landmark” reached as ISO 20022 comes to international payments
International payments may soon be made using the ISO 20022 messaging standard for the first time, following the publication of the first draft of ISO 20022 payments messages by an industry association backed by Payments UK (formerly the UK Payments Council).
Target Aims for Bullseye with Beacons (Aug. 10, 2015)
Target is tackling showrooming and hopes to increase shopper engagement with its latest test of location-based beacon technology in 50 of its stores, with a nationwide rollout slated for later this year.
California Taps PayNearMe to Accept Child Support Payments in Cash (Aug. 10, 2015)
PayNearMe is using its national retail footprint to enable the California Department of Child Support Services to accept cash payments for child support.
Project Neptune pilot goes live
Project Neptune, the fixed income trading initiative between a group of 42 large banks and asset managers, has gone live with its pilot production network, bringing the project closer to its ‘hard’ platform later this year.
LCH. Clearnet expands to Spanish Equities on BATS Chi-X, Turquoise & Traiana
LCH. Clearnet is to begin offering clearing clearing services for Spanish securities executed on BATS Chi-X, Turquoise and Traiana from Monday 7 September 2015, subject to regulatory approval. The new service, which introduces interoperability for the market segment will operate under the existing Title V settlement framework until the revised dates have been published by Iberclear […]
EU Commission mandates OTC derivatives clearing
The European Commission has adopted new rules that make it mandatory for certain OTC interest rate derivative contracts to be cleared through central counterparties.
Sen. Blumenthal Asks MCX to Explain M-Payments Exclusivity Policy (Aug. 6, 2015)
Sen. Richard Blumenthal (D-Conn.) this week sent a letter to the retail consortium Merchant Customer Exchange (MCX), which is readying the launch of its CurrentC mobile payments service, demanding details about its exclusivity policy requiring participants to block rival mobile wallets, along with other information.
BofI Gains OCC Approval to Acquire H&R Block Bank (Aug. 6, 2015)
BofI Federal Bank has received approval from the Office of the Comptroller of the Currency (OCC) to acquire certain assets and liabilities from H&R Block Bank.
OCC Issues Guidance for Tax Refund Prepaid Issuers (Aug. 6, 2015)
The Office of the Comptroller of the Currency (OCC) has released new guidance for banks issuing tax refund-related products, including prepaid cards.
European Commission and US “close to a deal” on data sharing
Banks may need to revisit the way they handle data, in preparation of an upcoming agreement between the European Commission and the US authorities on data-sharing.
Barclays opens startup accelerator programme in London
Barclays and startup accelerator company Techstars have opened the application process for the third cohort of their Accelerator programme in London, which will give ten businesses a chance to “shape the future” of financial services, the bank has said.
Wincor Nixdorf targets Brazil retail banking market
ATM maker Wincor Nixdorf is to expand its ATM business in Brazil, following a deal with Brazilian hardware company Perto. The deal comes as the BRIC market expands its retail banking infrastructure to serve the growing middle class of Brazilian society.
People on the Move: Meredith Fuchs and David Bleicken, CFPB
The CFPB has announced that Meredith Fuchs will serve as acting deputy director, replacing Steve Antonakes, who left the bureau at the end of July. David Bleicken, deputy associate director for supervision, enforcement and fair lending, will serve as acting associate director for supervision, enforcement and fair lending until a replacement is hired.
Company on the Move: DCR Strategies Inc. | TruCash, New Brand Logo and Website
DCR Strategies Inc.| TruCash, a Toronto-based provider of prepaid and loyalty products, has launched a new brand logo and corporate Website.
People on the Move: Faster Payments Task Force Steering Committee, The Federal Reserve
The Federal Reserve has established the Faster Payments Task Force with the mission of identifying and evaluating alternative approaches for implementing faster payments capabilities in the U.S. Steering committee members of the task force recently were named.
People on the Move: Philip Julian, i2c Inc.
i2c Inc. announced that industry veteran Philip Julian has joined the company as head of sales, Australia and New Zealand.
People on the Move: Andrew Johnson, National Gift Card Corp.
National Gift Card Corp. has announced that ngcEurope CEO Andrew Johnson was recently honored with the annual U.K. Gift Card and Voucher Association’s Lifetime Achievement Award and named to the organization’s Hall of Fame by a vote of its members.
People on the Move: Damian Young, Nomis Solutions Inc.
Nomis Solutions Inc., a San Bruno, Calif.-based data and analytics company, has appointed Damian Young managing director, Nomis Europe Ltd (EMEA).
People on the Move: John D. Rainey, PayPal Holdings Inc.
PayPal Holdings Inc. announced John D. Rainey is joining the company as chief financial officer, effective Aug. 24, 2015.
People on the Move: Cathy Pace and Andrew Rosen, PSCU
PSCU, a credit union service organization (CUSO) based in St. Petersburg, Fla., has appointed as associate directors Cathy Pace, president and CEO, Allegacy Federal Credit Union, Winston-Salem, N.C.; and Andrew Rosen, president and CEO, Hawaii State Federal Credit Union, Honolulu, Hawaii.
People on the Move: Mohammad Khan, YellowPepper Board
YellowPepper, a Latin American mobile payment and banking company, announced that Mohammad Khan, former president and founder of ViVOtech, has been named chairman of YellowPepper’s board of directors.
GMEX signs Bank of America, prepares for launch
International derivatives market GMEX is due to go live on Friday after more than two years of development. Created by co-founders Hirander Misra and Vj Angelo, the new exchange has just signed Bank of America Merrill Lynch and will start by offering futures contracts backed by German derivatives giant Eurex.
Switzerland’s SIX Group and Swisscom target retail payments via mobile app Paymit
Swiss exchange group SIX and Swiss telecoms company Swisscom are planning to create a Switzerland-wide, universal mobile payment solution in collaboration with banks. The plan encompasses shopping as well as peer-to-peer payments.
Android users most at risk of fraud warns survey
The rate of mobile fraud is highest on Android devices, according to new data from cyber security company Kount, with mobile fraud also outpacing that of online and in-store fraud for the first time this year. The data also shows that average transaction amounts on iOS mobile devices are greater than those made from Android devices.
Green Dot Goes Mobile for Cash Loads (Aug. 4, 2015)
Green Dot Corp. is using barcode-generation technology to enable customers to add cash to their accounts using their mobile devices at more than 65,000 retailers in its reload network.
Rise of Mobile Squeezes Facebook’s Payments Revenue (Aug. 4, 2015)
Amid Facebook’s better-than-expected, second-quarter earnings report last week, payments revenue fell 8.1 percent.
CVS Hack Highlights Importance of Vendor Selection
Another warning to check that your vendors apply appropriate security measures.
Google and RadioShack Face Challenges from Gift Card Holders
Both Google and RadioShack are engaged in legal battles with consumers holding unused balances on the respective company’s gift cards.
D.C. Circuit Court Ruling Revives Lawsuit Challenging CFPB’s Constitutionality
The U.S. Court of Appeals for the D.C. Circuit on July 24 revived a constitutional challenge to the CFPB and the appointment of Director Richard Cordray, overturning a 2013 decision that State National Bank of Big Spring, Texas, did not have standing in the lawsuit.
Samsung Pay to Roll out in Europe after South Korea, U.S. (Aug. 3, 2015)
Samsung plans to launch its m-payments service Samsung Pay in Europe, by extending its global partnership with MasterCard and leveraging the MasterCard Digital Enablement Service platform to connect European card issuers to the m-payment service.
People’s Bank of China Proposes Online Spending Caps (Aug. 3, 2015)
China’s central bank wants to implement regulations that would cap the amount consumers can spend online per day and per year using third-party payment accounts.
Mobikwik adds on-demand cash reloads
Indian mobile wallet provider MobiKwik is launching a new, Uber-like service.
Thomson Reuters targets FX corporate treasurers via FXall
Thomson Reuters has added foreign exchange trading capabilities for corporate treasurers to its financial markets desktop Thomson Reuters Eikon, linking it to FXall QuickTrade, a request for stream service.
Cameron backs UK fintech 2020 manifesto
Fintech association Innovate Finance has launched UK Fintech 2020, a manifesto that sets out goals for the UK to be a centre for financial services. These include calls for increased investment in fintech, efforts to attract more fintech firms and the creation of more jobs in the sector.
Casablanca joins London Stock Exchange ELITE program
The London Stock Exchange Group has signed an agreement with Casablanca Stock Exchange to support the launch of LSEG’s business development programme, ELITE, in Morocco.
Visa Partners with Stripe to Expand E-Commerce Reach (July 30, 2015)
Visa Inc. this week announced a new partnership with and investment in Stripe, a startup specializing in mobile and online payments technology, to work on new approaches to online payments and increasingly popular “buy buttons.”
MasterPass Coming to India amid E-Commerce Boom (July 30, 2015)
MasterCard and Citibank India are teaming up to bring the payment network’s MasterPass digital wallet to India.
SUBWAY Adding PayPal OneTouch (July 30, 2015)
SUBWAY will launch a revamped version of its mobile app and Web ordering service, adding PayPal’s OneTouch mobile checkout as a payment option.
Santander U.K. Enables Friends to Pool their Funds with KiTTi (July 30, 2015)
Santander, a financial services provider in the U.K., has made it easy for up to 100 consumers at least 18 years old to pool their funds via an app available on iOS and Android.
