A three-party alliance between alternative FX market LMAX Exchange, retail FX provider Z.com Trade and retail FX trading platform MT4 have built a combined liquidity pool, which aims to provide ‘last look’ liquidity to a wider market.
ABN Amro Clearing will offer clearing and settlement of trades at MEFFPower, cleared by BME Clearing. The Spanish Power derivatives market is one of the top five markets in Europe and has experienced great growth in the past decade. The maturities offered by ABN Amro Clearing as swaps and futures will be: annual, quarter, months, weeks, week-ends and […]
The European Securities and Markets Association is consulting financial institutions on which messaging protocol and data formats would be best for trade reporting under MiFIR. As the timeframe for reporting comes ever closer to real-time, the consequences could be serious.
SIA, in partnership with Colt, has been awarded the contract to connect Hungarian central securities depository Keler to T2S, the new single European platform for the settlement of transactions in domestic and cross-border securities.
The Citi Mobile Challenge, which seeks to unearth innovation and developer talent in some of the most far flung reaches of globe in a bid to get the best talent to help change the way the world banks, has extended its registration deadline to allow more people to take part.
Cloud computing is becoming more prevalent throughout the financial sector but many firms say they are less than halfway to having a firm cloud strategy in place, with controls and security remaining primary concerns.
Explosive developments in mobile commerce and payments will drive a level of disruption in the next three to five years unlike anything the financial services industry has seen before, Dan Schulman, incoming CEO of PayPal, forecast this week.
Blackhawk Network Inc. is bolstering its mobile wallet app, adding a feature that will enable users to sell and exchange gift cards as well as the ability to scan physical gift cards to add them to the wallet.
Google wasted no time shutting down Softcard after acquiring technology and intellectual property from the telco-backed mobile wallet last week.
With plenty of room to further penetrate the market—40 percent of respondents had not used a prepaid card—survey results around willingness (or not) to recommend prepaid to a friend, suggest the industry may be suffering from a lingering image problem.
Brett King is joining digital financial services investment and advisory firm Anthemis Group as a venture partner.
The EMV Migration Forum, a cross-industry body focused on supporting the migration to EMV payments standards in the U.S., has announced its 2015-2016 steering committee officers. The committee will be chaired by John Drechny, senior director of payment services, Walmart. Patty Walters, senior vice president of corporate EMV strategy for Vantiv Inc., will serve as […]
The board of directors of the Federal Reserve Bank of Philadelphia has announced that Patrick Harker will assume the role of president and CEO, effective July 1, 2015.
GlobalPlatform, a nonprofit organization that standardizes managing applications on secure chip technology, has added New Doone Science & Technology as an observer member.
Online gift card marketplace Raise has announced that Don Kingsborough has joined the company’s board of directors.
Payment services provider and processor Sage Payment Solutions has appointed Paul Bridgewater as CEO and Jim Emerick as executive vice president of customer support.
Prepaid program manager UniRush LLC has promoted Douglas McGann to the role of president.
Rob Lehman has joined law firm WilmerHale as co-chair of the firm’s legislative affairs and public policy group, a government relations practice that provides strategic legislative and regulatory advocacy and solutions.
Temenos has moved into the fund administration business with a €235 million acquisition of Luxembourg-based Multifonds, which counts a number of Tier 1 institutions as users of its fund administration platform.
Swift has added peer assessment to its Sanctions Testing service. An optional service it will allow financial institutions to compare the performance of their sanctions filters against those of other participating institutions.
Tungsten Bank can now provide banking services in Germany, France and Italy following approval from the UK’s Prudential Regulation Authority
Fenergo has enhanced its Regulatory Rules Engine software, used by investment banks investment banks and capital market firms for client lifecycle. The software enables financial institutions to comply with a range of regulatory frameworks based on a single, out-of-the-box repository of rules.
New mobile payments and loyalty management technologies envisioned for public transportation and automobiles may spark some big changes in commuters’ daily routines, according to announcements from Visa and MasterCard this week at Mobile World Congress in Barcelona.
Ubiquity Global Services, which last fall announced the opening of a contact center in Lisbon, has recently signed deals with two major prepaid companies, Meta Payment Systems and Wave Crest.
ATM owner/operator Cardtronics Inc. is launching a new surcharge-free ATM membership program called ATMpass that enables consumers to purchase monthly, quarterly or annual memberships for surcharge-free ATM access in retail locations.
CFPB Director Richard Cordray today addresses the House Financial Services Committee for the bureau’s semi-annual report to Congress.
New York is considering a plan to hold top banking executives personally responsible for the quality and effectiveness of their firms’ AML efforts.
The CFPB’s Antonakes explained his bureau’s supervisory approach and enforcement actions and how they are different from that of the federal banking agencies.
Mobile money is expanding rapidly as global smartphone penetration grows. This year, many providers are looking to expand their range of mobile money services to areas such as credit and savings – but operators must be wary of the remaining challenges, including regulation and market sizes, according to a new report by the GSMA.
PayPal took a big step forward in expanding its in-store payments presence today, announcing plans to acquire Paydiant, an Auburndale, Mass.-based mobile payments technology company.
Samsung Electronics Co. unveiled details of Samsung Pay, its mobile payments service set to roll out in the U.S. this summer to compete with Apple Pay and Google Wallet, further expanding the potential audience—and merchants—that can participate in the tap-to-pay experience.
Visa last week announced plans to buy TrialPay, an e-commerce platform that helps merchants convert free users into paying subscribers for gaming and other online and mobile services.
The CFPB is updating the system credit card issuers use to submit their card agreements to the agency’s public database, and the new automated process could be used by prepaid card issuers if submitting cardholder agreements as proposed by the agency’s NPRM on prepaid accounts becomes law.
Samsung has announced a new mobile payment service called Samsung Pay, that it claims will break the obstacles to mobile wallet adoption by being compatible with older point-of-sale terminals through the use of Magnetic Secure Transmission, which allows terminals using traditional magnetic stripe technology to accept payments.
Nearly two-thirds of Italians will be able to make real-time peer to peer payments using a mobile phone by this summer, according to Massimo Arrighetti, chief executive of Italian payment processor SIA. That’s not the end of SIA’s plans however, as the company focuses on an internationalisation agenda that targets 400 million European current account holders.
Lloyds Bank plans to invest £1 billion in digital banking capability over the next three years, re-investing a third of the savings it hopes to make in its drive to become ‘simpler and more efficient’.
Limited availability of key skills is seen as a threat to growth prospects by 70% of chief executives in the financial services sector. A global survey by PwC shows that the disruptive impact of new technology and new competition in the sector has created new challenges for employers looking to hire in the months ahead. Concerns centre on the shortage of employees with the right combination of skills, with more than three quarters of executives looking for a broader range of skills when hiring than they did in the past.
In a joint international operation Europol’s European Cybercrime Centre seized servers said to have controlled the Ramnit botnet that had infected 3.2 million computers internationally. The operation involved investigators from Germany, Italy, the Netherlands, and the UK – which led the operation – along with partners from private industry.
Google Wallet is getting fresh horses in the mobile wallet race, where Apple Pay has the early lead.
Mobile payments technology is driving multiple types of innovations, but one of the most transformative likely will be location-based technologies that improve the shopping experience, according to Square’s co-founder Jim McKelvey.
