People on the Move: Stephen Vogel, Banking Up
Banking Up, which enables businesses and financial institutions to deploy consumer retail banking services, has appointed Stephen Vogel CEO.
News
People on the Move: Eric Sepci and Brian Soder, AFS/IBEX, a division of MetaBank
AFS/IBEX, a division of MetaBank, has hired two senior sales executives. Both are long-time veterans of the premium finance industry.
People on the Move: Suresh Vaghjiani, Global Processing Services (GPS)
UAE-based payments processor Global Processing Services (GPS), which recently was named a One to Watch: Company in Paybefore Awards Europe, announced that Suresh Vaghjiani has joined its senior management team.
People on the Move: Elizabeth McQuerry, Nell Campbell-Drake and Manfred Schuck, International Payments Framework Association (IPFA)
The International Payments Framework Association (IPFA) has appointed a new management team and expanded its focus to include instant or real-time payments.
Company on the Move: Limonetik, ‘Cool Vendors’ List
Limonetik, a Paris-based global digital payments provider, has been included in the list of “Cool Vendors” in the “Digital Commerce, 2015” report by consulting firm Gartner Inc.
People on the Move: Robert Courtneidge, Locke Lord LLP
Locke Lord LLP’s Robert Courtneidge, global head of the cards and payments practice, placed No. 1 in the Payments 2015 Power 10 rankings.
People on the Move: Vincent Patru and Philip Glickman, MasterCard
MasterCard has announced two new appointments in the Asia-Pacific region: Vincent Patru takes on a new role as key account lead, emerging payments, Asia-Pacific, and Philip Glickman joins MasterCard as head of commercial products and solutions, Asia-Pacific.
People on the Move: Stephen Middlebrook, UniRush LLC
Prepaid program manager UniRush LLC has hired Stephen Middlebrook as general counsel and chief compliance officer.
People on the Move: Sandra Braunstein, Wolters Kluwer Financial Services
Wolters Kluwer Financial Services announced that former federal regulator Sandra Braunstein will provide compliance management and Community Reinvestment Act consulting services to the company’s U.S. banking clients.
Reforms needed to build on Shanghai-Hong Kong Stock Connect success
The Shanghai-Hong Kong Stock Connect link has made significant in-roads in the opening of China’s capital markets to international trading but barriers to participation, including restricted trading strategies, introduce risk and create operational complexity. The long-term success of the venture hinges on removing these barriers, according to a study carried out for the DTCC.
McKenna to head standards at Global Legal Entity Identifier Foundation
Karla McKenna has been named head of standards at the Global Legal Entity Identifier Foundation on a year’s secondment from Citi, where she is director of market practice and standards.
CFTC praises global regulatory harmonisation – just don’t expect uniformity
Global regulators are struggling to find the balance between recognising each other’s existence and learning to harmonise and coordinate their activities, and protecting domestic national economic stability. But people who can’t accept that there will be some differences in regulation between Asia, Europe and the US are not realistic, according to Timothy Massad, chairman of the Commodity Futures Trading Commission.
Apple Pay to Meet the U.K. (June 9, 2015)
Apple Pay is coming to the U.K., but it’s unclear whether Apple is adjusting its business model to entice issuer participation as it moves across the pond.
PayPal’s ‘One Touch for Web’ Launching in Canada, U.K. (June 9, 2015)
Consumers in Canada and the U.K. this week will have access to PayPal’s One Touch for Web payment app, enabling them to pay for purchases with one click after logging in.
Consumer Awareness of E-Money in Russia is Strong (June 9, 2015)
Many Russians today are paying for goods and services with e-money or have at least heard of the payment method, according to a study by research agency TNS Russia.
Viewpoint: Why Banks Still May Be Nervous about Banking Nonbank Money Services Businesses
The FDIC draws attention to a standard fraud claim without offering much guidance.
EMIR ‘significantly at risk’ of failure warns FIA Europe
Industry association FIA Europe is calling on regulators to make changes to derivatives laws, including amendments to Basel III and MiFIR, as well as EMIR reporting obligations. The association argues that without the changes it is advocating, the viability of some of the new rules will be at risk.
Saxo Payments to fulfil cross border transfers for First Data clients
Saxo Payments is collaborating with First Data to reduce costs and improve the speed of global transactions for First Data clients through a secure web interface through they can manage cross border transfers.
Apple Pay comes to UK next month
Apple Pay will be available in the UK from next month, with eight of the UK’s most established banks and the major credit and debit card networks supporting it – along with Transport for London.
Need for customer focus is driving recruitment in financial services
Demand for improved customer service and new mobile banking and payments services is driving increased hiring in financial services in the UK, with employment prospects 16 percentage points higher than a year ago, according to Manpower Group,
Pinterest Boosts Interest in E-Commerce with New Buy Button (June 8, 2015)
In the latest move to blur the lines between social media and e-commerce, popular social sharing site Pinterest will enable users to make purchases through its platform.
Visa Europe Predicts Mobile Payments Boom by 2020 (June 8, 2015)
The U.K. might not be a cashless society by 2020, but Visa Europe research predicts mobile payments will help displace cash as they gain popularity.
Reuters: Retailer Take-Up of Apple Pay Slow (June 8, 2015)
Reuters research suggests Apple may be having more trouble signing up top retailers to accept Apple Pay than the tech company anticipated.
Citi launches futures trading on Velocity
Citi has launched Futures trading functionality on Citi Velocity, the trading platform which provides clients with access to Citi’s research and liquidity across FX, Rates and Credit. Launched in January 2012, Velocity 2.0 is continuously upgraded to include new features and asset classes. It provides clients with an integrated trading suite enabling fastest possible execution […]
Permanent TSB and Italian bank adopt Wolters Kluwer reporting tools
Irish bank Permanent TSB has chosen a regulatory reporting platform from Wolters Kluwer as part of its measures to cope with Basel III. Belgian bank Banca Monte Paschi Belgio, the Belgian branch of Italy’s Banca Monte dei Paschi di Siena, has also chosen the same OneSumX regulatory reporting solution.
Banks should know their customers’ digital skills says new report
As consumer adoption of mobile devices and social media increases, banks can’t really rely on standard details such as income, age and geography to serve customers better than their competitors, according to a new report by payments company TSYS and software firm FICO. Instead, they may need to recognise the different kinds of customers based on how they interact with digital technology and tailor their services accordingly.
Tokenisation is key to tackling threat of payment challengers
The vast majority of payments worldwide are still made in cash. But if mobile were to combine e-commerce with proximity payment, that could be a problem for banks. One potential solution is tokenisation.
Calypso adds ‘bank-in-a-box’ for capital markets
Treasury and capital markets software specialist Calypso Technology has developed “an industrialised blueprint for reducing complexity and cost in banks”. The Calypso Bank-in-a-Box was developed in collaboration with a group of global banks to consolidate and document their processes and systems in the face of market and regulatory changes.
Deutsche Bank plans three new labs as part of €1 billion digital investment
Deutsche Bank plans to open three innovation labs as part of its €1 billion investment in digital initiatives over the next five years. The bank has partnered with different technology partners for each of the Deutsche Bank Labs and will be working Microsoft in Berlin, HCL in London and IBM in Silicon Valley.
McObject distributor looks to crowdfunding in Europe
MCO Europe, exclusive distributor of the McObject high performance database financial markets in the UK and Europe, is raising investment through Crowdcube, the UK’s largest crowdfunding site, to fund growth and expansion. McObject’s eXtremeDB Financial Edition high-performance database is used for trading and risk management by banks, fund managers, brokers and data vendors.
Celent hires Hines in transaction banking role
Patricia Hines has joined Celent’s banking practice as a senior analyst focused on global transaction services and wholesale banking with a particular emphasis on treasury and cash management, corporate banking delivery channels, and trade and supply chain finance, along with commercial and small business lending.
Hines has led senior product management, marketing, and technology positions at FleetBoston Financial, Wells Fargo, Citibank, MuleSoft, OpenText GXS, and S1 Corporation (now ACI Worldwide). She was also research director in wholesale banking at CEB TowerGroup, where she conducted primary research focused on industry trends, strategic business drivers, and technology solutions in commercial lending and small business services.
Samsung Pay Pushes Back Launch, Adds Consumer Rewards Program (June 3, 2015)
Samsung Pay will roll out in September, a bit later than its originally planned summer 2015 launch. But when the m-payments service goes live in the U.S. and Korea, it will include a consumer rewards program.
FBI Warns of New Cybercrime Threat (June 3, 2015)
Cybercriminals are using a new form of malware to steal shoppers’ personal financial data, according to an FBI alert issued to retailers last week.
Home Depot Wants Breach-Related Lawsuit Dismissed, Faces Lawsuit from FIs (June 3, 2015)
Home Depot has filed a motion to dismiss a class action lawsuit stemming from a data breach last September.
Mobile Payments Providers Must Win Over Nearly 50% of U.K. Consumers (June 3, 2015)
Despite industry fervor behind mobile payments, 47 percent of U.K. consumers don’t want to use their phone to make payments, with 81 percent citing security concerns, according to a recent survey.
Security fears ‘putting people off’ contactless mobile payments
Nearly half of smartphone users do not want to use their device to make contactless payments, mostly over fears about security, according to a survey.
Mobile Fintech Surges in Global Funding Boom (June 2, 2015)
Fintech funding is booming globally and within the overall sector, mobile fintech is getting the most money.
MasterCard, Silicon Valley Bank Support Startups, Innovation with Accelerator Program (June 2, 2015)
Innovation continues to be a hot commodity in payments, and five U.S. startups have been chosen to participate in Commerce.Innovated., an accelerator program to help companies focused on commerce grow their businesses.
P2P Push Continues as Oink Adds Transfer Function (June 2, 2015)
On the heels of Facebook’s app-based money transfer service expanding to New York City and adding functions, money management provider Virtual Piggy Inc. has unveiled a P2P transfer service of its own.
Grocery Store Gaffe Leads to Thousands of Canceled Gift Cards (June 2, 2015)
Australian grocery store chain Woolworths is canceling more than AUD1.3 million (US$1 million) worth of gift cards after it mistakenly emailed nearly 8,000 redeemable card codes to more than 1,000 consumers, according to reports.
