IG launches trading app for Apple Watch
IG Group has launched a trading app for the Apple Watch, which it says is one of the first of its kind. The Apple Watch is due to be released on 24 April.
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S&P Capital IQ launches Salesforce app
Financial data and analytics specialist S&P Capital IQ has launched a new app on the Salesforce AppExchange designed to enable sales, marketing and other professionals to rapidly identify, research and vet potential new business clients and partners.
Finland’s Holvi bank tackles online-only identity verification
Finnish online-only bank Holvi has partnered with GBGroup, an identity intelligence specialist, as part of a drive to ensure that all its customers are verified while reducing the time this process takes. Holvi does not operate any branches, and as such relies on other methods to confirm the identity of its customers.
N.Y. AG’s Problematic Payroll Card Act Gets Sponsors from Both Sides of Aisle (April 8, 2015)
Both political parties again are backing problematic payroll card legislation from New York Attorney General Eric T. Schneiderman that could squeeze margins and force some providers to pull programs from the state.
Pressure Intensifies in U.S. EMV Migration (April 8, 2015)
As preparations for the U.S. EMV migration go into high gear, some payments industry participants are questioning whether merchants have enough time to make POS terminals chip-compliant by October 2015, when a liability shift goes into effect.
Survey Finds Prepaid Programs Have Fewer Fees (April 8, 2015)
GPR prepaid cards have fewer fees and providers are disclosing clearly the fees they do have, helping cardholders avoid paying additional costs to use their cards, according to a new survey from Bankrate.com.
India: MobiKwik Raises $25 Million; PIF India Renews Focus on Financial Inclusion (April 8, 2015)
With a fresh infusion of cash, Indian payment startup MobiKwik plans to invest in data analytics, brand building and growing its network of mobile wallet users and merchants, according to reports.
DBS Bank Singapore overhauls anti-crime tools
Singapore’ DBS Bank has begun a major overhaul of its financial crime prevention strategy, as the bank seeks to upgrade its suspicious activity monitoring, due diligence and risk tools.
Survey: GPR Cards Popular with Millennials; Security Benefit Big among All Consumers (April 7, 2015)
New data suggest prepaid issuers would do well to target millennials and tout the security benefits of their cards, according to a new survey by TD Bank, the Cherry Hill, N.J.-based subsidiary of the Toronto-Dominion Bank.
First Payroll, Now GPR: Brink’s and NetSpend Announce Rollout (April 7, 2015)
The Brink’s Co., a brand known for security and armored cash transport, is expanding its financial services product suite with a new GPR card.
PCI SSC Issues Guidance to Meet Demand for Tokenization Products (April 7, 2015)
The PCI Security Standards Council (PCI SSC) has developed “Tokenization Product Security Guidelines” because of the rising demand for tokenization products.
Digital Goods Regs Take Effect in Italy, NFC Laws On the Way? (April 7, 2015)
New regulations went into effect in Italy last week that require mobile payments providers and merchants involved in the sale of digital goods to notify customers that their personal data are being collected and what that data are being used for.
Russia’s NSD revamps reference data amid transparency drive
Russia’s NSD central securities depository has launched a joint project with Interfax information agency to coordinate their efforts for the development of a system of assessing the fair value of financial instruments. The move is part of an ongoing government reform agenda designed to turn Moscow into an international financial centre.
PayPal Closes Paydiant Deal, Expanding NFC Options (April 6, 2015)
PayPal has moved significantly closer to its goal of making its digital wallet “ubiquitous” for consumers paying online, via mobile devices and at the POS.
Credit-Scoring Pilot Offers a New Look at 15 Million Consumers (April 6, 2015)
The quest to use alternative data to score thin- or no-file consumers continues with a new program being led by FICO, LexisNexis Risk Solutions and Equifax.
U.S. Leads Europe in E-Commerce, Quicker to Adopt Mobile (April 6, 2015)
The U.S. continues to lead e-commerce sales with expected revenue of $349.2 billion in 2015—compared with a combined $254 billion in projected sales in eight European countries, according to a report.
Federal Investigators Allegedly Get Greedy, Face Charges in Silk Road Case (April 6, 2015)
Two agents involved with the investigation of Silk Road, a Website that backed bitcoin transactions and was shut down by the FBI, face federal charges of money laundering and wire fraud, among other alleged crimes.
Petition: Exclude Bitcoin Startups, Supporting Companies from BitLicense Regs (April 2, 2015)
A coalition of bitcoin entrepreneurs and advocates are backing a petition that would exclude companies supporting the bitcoin infrastructure, as well as smaller startups, from the scope of New York’s BitLicense proposed regulations.
Fiserv: Billers Need to Catch Up with Customers’ Mobile Ways
Customer usage of mobile bill pay has grown substantially over the past year, but many billers aren’t keeping up with how their customers want to pay, according to the “Third Annual Biller Mobile Bill Pay Benchmark Study,” commissioned by Fiserv Inc., a global provider of financial services technology solutions.
Sen. Menendez Indicted on Corruption Charges (April 2, 2015)
After several weeks of speculation, Sen. Robert Menendez (D-N.J.) was indicted yesterday on federal corruption charges over allegations he accepted bribes from a donor in exchange for political favors.
Current Account Switch Service expanded to businesses
Two enhancements to the Current Account Switch Service (CASS), announced in the Chancellor’s Autumn Statement last December, have been successfully implemented by the banking industry.
Avaloq, DBS, Leonteq and Numerix plan structured investment collaboration
Avaloq, DBS, Leonteq and Numerix have signed a letter of intent for the implementation of an integrated multi-issuer investment products distribution system. The cooperation will enhance the offering and distribution of structured investment products. Through this initiative, Avaloq connects the IPDS to the Avaloq Banking Suite, with DBS as the pilot bank. For the first phase, the new platform will focus on the Asia Pacific region.
People on the Move: Ori Lev, K&L Gates
Law firm K&L Gates has named Ori Lev a partner in the firm’s consumer financial services practice.
People on the Move: Timothy J. Grace and Manuel Da Silva, Fiserv Inc.
Fiserv Inc., a global provider of financial services technology solutions, has hired financial crime risk management analytics and technology experts Timothy J. Grace and Manuel “Mannie” Da Silva.
People on the Move: Angela Brown, Moneris
Angela Brown, CEO and president of payment processor Moneris Solutions Corp., has received the 2015 Distinguished Payments Professional award from the Electronic Transactions Association.
People on the Move: Chuck Fagan, PSCU
PSCU, a credit union service organization based in St. Petersburg, Fla., has appointed Chuck Fagan president and CEO.
People on the Move: Hans-Peter Brodersen, Carla Hattingh, Faiza Nyanzi and Michael Szumlicki, Raphaels Bank
Raphaels Bank, a U.K.-based issuer of prepaid and other payment cards, has bolstered its card services team with four appointments who bring regulatory and compliance-related skills, along with additional client support.
People on the Move: Ken Tye, TSYS
TSYS announced that Ken Tye has decided to retire as senior executive vice president and chief information officer after 43 years of service, effective Sept 30, 2015.
People on the Move: Michael Gordon, WilmerHale
WilmerHale has announced Michael Gordon is rejoining the law firm next month as partner in the Washington, D.C., office, expanding WilmerHale’s consumer finance regulatory and enforcement capabilities and congressional investigations experience.
ISDA publishes new derivatives principles calling for changes to SEFs
The International Swaps and Derivatives Association has published a set of derivatives trading principles, which are part of an effort to get regulators around the world to harmonise their efforts at derivatives market standardisation. The principles include a call for greater flexibility on US swap execution facilities.
New regulator plans lasting changes to the structure of the UK payments industry
The UK’s new Payment Systems Regulator looks set to shake up the way the industry is structured, with reviews of the ownership of the infrastructure and of the way that indirect access is managed through sponsoring banks.
Pan-European Instant Payment Forum kicks off in Frankfurt
The inaugural meeting of the Open Forum on Pan-European Instant Payments drew 77 representatives from 55 payment service providers, technology providers and other stakeholders to Frankfurt this week to kick off discussions about requirements and collaboration on infrastructure services to support instant payments at a pan- European level.
Is ‘Microsoft Pay’ in the Works? (March 31, 2015)
Mobile wallet rivals for Apple Pay, including Samsung Pay and Google Inc.’s rumored Android Pay, may face another giant tech competitor. Microsoft Corp.’s latest moves suggest it may brand its own mobile payments service, too.
MasterCard Contactless Users in Asia-Pacific Increase 49 Percent (March 31, 2015)
Consumers in Asia-Pacific are taking to contactless payments in a big way, with the number of unique contactless users in 2014 up by 49 percent, compared with the previous year, according to MasterCard.
Weiner Joins Ubiquity Board (March 31, 2015)
Ubiquity Global Services has announced that payments veteran Jonathan Weiner has joined its board of directors. Weiner is founder and co-chairman of Money20/20 and former global head of payments business development at Google.
Vodafone Wallet Opening to Credit, Debit Cards (March 31, 2015)
Users of Vodafone’s mobile wallet soon will be able to make NFC in-store purchases via a linked bank-issued Visa credit or debit card after the telecom operator struck new deals with Visa and Carta Worldwide.
M&A Update: D+H Buys Fundtech; Net Element Acquires PayOnline (March 31, 2015)
Following last week’s Optimal Payments purchase of Skrill for $1.2 billion, another $1 billion-plus will change hands in two more acquisitions that will have global implications for the payments companies involved.
Banks must protect the “crown jewels” from cyber-attack – but can’t keep attackers out completely
Banks need to recognise that building a wall to keep cyber security threats out will not work. With breaches from both sides of the wall inevitable, financial institutions would do better to pare down their activities and focus on defending their core assets – including intellectual property and transactional systems.
Google to Ride into Email Bill Payment with ‘Pony Express’? (March 30, 2015)
Google is working on developing a Gmail-based bill payment service called Pony Express, which could roll out as early as the fourth quarter.
First Data Study Shows Keys to Success for In-Store Gift Cards (March 30, 2015)
As retailers prepare for the year’s second-largest shopping season—Mother’s Day, Father’s Day and graduations—First Data research from the 2014 holiday season can help retailers drive gift card sales.
