Some of the top banking industry associations may be joined together, amalgamated or otherwise merged, following the publication of the Financial Services Trade Association Review this month. The move poses both risks and potential benefits.
Nearly half of UK consumers say that faster payments are a factor in their choice of back account provider, with 45% saying that the offer of faster electronic payments would encourage them to switch their bank account provider.
Technology is equipping non-bank market-makers to move into the US Treasury Market, giving them analytics and speed to manage and hedge risk, while enhancing market liquidity. “Market makers have been deploying electronic tools at varying degrees over the past decade,” says Anthony Perrotta, a principal and head of fixed income research at Tabb Group, author […]
Banks are at risk from a new kind of ‘client side injected malware’ attack, in which attackers install malware on the customer’s device and use it as a base for injected ads, spyware scripts, unauthorised cookies and fake surveys designed to look like they are part of the bank’s website or app, but which actually steal a customer’s private information.
Apple Pay this month has reached a new milestone: More than 1 million U.S. merchants now accept the m-payments service, according to new data from Ingenico.
Sri Lanka’s largest telco, Dialog Axiata, is partnering with MasterCard joint venture HomeSend to enable mobile remittances to the country, which represents a US$7.2 billion money transfer market.
A major online hacking forum and malware marketplace has been shut down in a coordinated operation by law enforcement officials in 20 countries.
Equiniti has exchanged contracts to acquire TransGlobal Payment Solutions, whose platform is used by Equiniti International Payments, the group’s foreign exchange payments business, launched in 2011.
Commerzbank has extended its existing credit card processing contract with Worldline for a further seven years. Since 1998 Wordline has provided the bank with an end-to-end processing service that includes complete processing of all the bank’s issued Visa and MasterCard cards.
BNP Paribas has become a direct participant in CHAPS, the UK’s same day high-value electronic payment system, the 22nd bank to join in this role. More are expected to join by the end of 2016. As a direct participant, the bank can directly send and receive irrevocable, guaranteed sterling payments with same day finality, rather than through a third-party.
UK banks rank bottom in a nine-country survey of how well banks match up to customer expectations in terms of rewarding customer loyalty and helping them manage their finance. Overall, the UK banks rank third, behind the US and Germany.
A ‘Babel Fish’ for financial messaging has been launched by Volante Technologies with the intention of simplifying corporate-to-bank integration and removing obstacles to on-boarding. Like the fictional universal translator from Hitchhikers’ Guide to the Galaxy, the system translates incoming message formats into something that the receiver can understand.
The Payment Systems Regulator, the new economic regulator for UK payment systems, has appointed Ruth Evans as the chair of the Payments Strategy Forum. Evans is currently chair of The Authority for Television on Demand, the independent co-regulator for the editorial content of UK video on demand services.
Green Dot Corp. today opened the doors to Green Dot Shanghai Software Technology Co. Ltd., a wholly owned subsidiary located in the Zhangjiang Hi Technology Park in the Pudong district of Shanghai.
Apple Pay went live today in the U.K., and analysts say its prospects of catching on with consumers are promising, at least from the hardware perspective.
First Data Corp. has made another move to bolster digital gifting options for its retail clients, acquiring digital gift card platform Transaction Wireless Inc. (TWI).
It’s now law, but not all of the act is in force yet.
Regulated entities that verify identity in connection with the issuance of stored value cards may find more flexibility in the principle-based approach to identity verification outlined in the proposed regulations.
Apple Pay has launched in the UK without the participation of HSBC and Barclays, two of the UK’s largest retail banks.
Efforts to combat money laundering and terrorist financing have succeeded in making life difficult for criminals seeking to engage in those activities, according to a pair of reports from the Treasury Department.
American Express may be not be the first among its rivals to introduce streamlined online checkout, but its new service features a sleek shortcut for users that could be a key advantage in driving adoption.
MetaBank, through its Meta Payment Systems division, has announced an agreement to be an issuing bank for Atlanta-based InComm’s prepaid card programs.
A new global innovation centre in Madrid promises to illuminate the uses of Big Data for banks and financial institutions. Built by EY (formerly Ernst & Young), the centre is part of a $500 million investment in analytics by the company.
The ‘digitisation’ of banking provides an opportunity for banks to improve their treasury service offerings as they face a second wave of digital expectations from key corporate customers, according to a report from analyst firm Celent.
Boat Services now supports the post trade publication of Russian OTC trading, by including stocks listed on the Moscow Exchange. The addition covers more than 300 Russian security instruments, including common and preferred stocks.
Swift has restructured its management team, increasing the number of direct reports to chief executive Gottfried Leibbrandt, following board approval of its 2020 strategy proposals.
Biometrics authentication continues to draw interest from some of payments’ biggest players, with MasterCard unveiling a new pilot program that will enable online shoppers to approve purchases with a facial scan.
Two days after revising its earnings expectations for the year, London-based financial technology firm Monitise plc told investors today that Visa Europe plans to withdraw its remaining investment in the company.
More than 30% of all suspicious transaction reports in the European Union are triggered by the use of cash, according to Europol, with the €500 note – not widely used for payments – still in demand.
CashStar Inc., a provider of digital gifting technology and Paybefore Award winner, has appointed Matt Kerper vice president of strategic business development.
Barclays has appointed Richard Fisher senior adviser.
Locke Lord LLP has enhanced its corporate and real estate capabilities in South Florida with the hiring of leading transactional lawyers Mark S. Scott and Douglas L. O’Keefe as partners in the firm’s Miami office.
MasterCard recently announced several personnel changes for its Asia-Pacific business.
Germany-based Robert Bosch Inc. has joined the CardLinx Association, which represents the card-linked rewards industry.
iPhone devices account for more than one in three mobile transactions, and are used for 10% of all global online transactions, according to new figures published by payment specialist Adyen.
ICAP has become the first UK institution to implement a range of enterprise data governance systems from Oracle, replacing a legacy process involving manual spreadsheet maintenance and frequent e-mail exchanges.
After a sluggish 2012 and a double-digit drop in 2013, total dollars loaded onto retailer-issued, closed-loop prepaid cards rebounded with a 13 percent increase last year, according to Mercator Advisory Group’s latest report.
P2P providers may have to brace for yet another competitor to enter the crowded field—Apple Inc.—which has filed a patent suggesting plans to extend P2P services to its Apple Pay users.
Equipping young Americans with the knowledge they need to make smart financial decisions should start as early as pre-kindergarten, according to a new report from a group of experts tasked with finding ways to promote financial capability among the young. Created by a 2013 executive order from President Obama, the President’s Advisory Council on Financial […]
The UK’s Payment Systems Regulator has published a series of papers describing its work on the creation of the Payments Strategy Forum, the body it is creating under independent leadership to bring together regulators, industry and users.
