MarkitSERV and Misys team for FX derivatives clearing service
OTC derivatives trade processing service MarketSERV and banking technology provider Misys have partnered to create a service for CCP clearing of FX derivatives trades.
News
Russia’s Alfa Capital boosts front-office tech
Russian asset manager Alfa Capital has implemented SDX, SuperDerivatives real-time cross-asset front office system, for its structured products business.
Panopticon poaches QlikTech sales head
Nadeem Chowdhry, formerly sales director of financial services for QlikTech, the makers of the QlikView business intelligence system, has joined data visualisation specialist Panopticon as senior vice president in the UK.
Pair of Prepaid Card Bills Moves Forward in N.J. Assembly (Feb. 11, 2013)
Feb. 11, 2013 Two prepaid card-related bills being considered by the New Jersey State Assembly took steps forward last week, earning approval by the Assembly’s Appropriations Committee. The first bill, A-3561, permits New Jersey’s Treasury Department to issue state income tax refunds onto prepaid cards, while the second, A-3562, enables state and local governments to […]
Monitise Teams with BlackBerry for Payment Service in Indonesia (Feb. 11, 2013)
Feb. 11, 2013 Monitise plc today announced the launch of a mobile payments pilot in Indonesia harnessing BlackBerry smartphones. The new service will enable BlackBerry users to access a mobile money account on their smartphones and transfer funds among bank accounts and to other BlackBerry customers who are also signed up for the service, as […]
TAS, Payair to Launch Mobile Commerce Platform (Feb. 11, 2013)
Feb. 11, 2013 Italian software provider TAS Group and Payair South Europe S.A., a Swedish mobile commerce company, have agreed to launch a mobile commerce platform that incorporates Payair’s commerce platform and a customization solution supplied by TAS. The platform will support large-scale retailers that require advanced automation of their purchase and payment processes, according […]
Commerzbank adopts visual security tool for mobile payments
Germany’s Commerzbank has adopted a visual transaction signing tool from British security firm Cronto for its online banking customers, designed to protect against Trojan malware.
New York techies most bullish about job prospects – but not bonuses
Technologists in financial services are the least loyal to their employers, even though they also have the worst perception of the economy and of their employment prospects.
Jyske Bank goes live with SmartStream corporate actions tools
Danish bank Jyske Bank has gone live with corporate actions technology from SmartStream.
Barclays and HSBC offer Singapore stocks on LSE
HSBC and Barclays have begun trading Singapore-listed stocks on the London Stock Exchange, using the LSE’s newly-created international board.
Fircosoft signs AML watch list reseller in India
FircoSoft has signed a partnership with Indian IT services specialist iSolve to resell its watch list filtering products to financial institutions in India, where anti-money regulations are tightening. iSolve already sells compliance solutions to financial institutions in India, making the addition of FircoSoft’s filtering solutions to iSolve’s portfolio a logical step. It will be mainly targeting […]
Wal-Mart Exec: Debit-Routing Dilemma Makes October 2015 EMV Deadline ‘Unreasonable’ (Feb. 7, 2013)
Wal-Mart Stores Inc. is among merchants worried they will miss the October 2015 U.S. EMV liability-shift deadline, in part because the debit networks have not yet determined which technology path they will take to route chip-based debit transactions under the Durbin Amendment network non-exclusivity rules.
Nasdaq OMX helps Polish clearing house prepare for EMIR
Polish clearing house KPDW CCP has deployed technology from Nasdaq OMX to help it meet the European Commission’s new EMIR rules on OTC derivatives. Under EMIR, the majority of OTC derivatives will have to be centrally cleared via central counterparties. The rules are intended to reduce systemic risks in financial markets by removing the possibility […]
Eurex inks deal with Taiwan Futures Exchange
The Taiwan Futures Exchange is to list futures and options on German derivatives exchange Eurex, following an agreement between the two bourses to make it easier for international investors to access each other’s markets round the clock.
Swedbank and SIX first to back Bloomberg PolarLake EDM service
Swedbank has become the first live user of Bloomberg PolarLake’s managed service model for enterprise data management.
Euroclear Bank opens up Russian bond market
Euroclear Bank has begun clearing and settlement for Russian ruble-denominated OFZ government bonds – a market worth US$100 billion, according to figures provided by Baring Asset Management.
Tradition FX platform cuts out HFT ‘predators’
A new FX platform built by inter-dealer broker Tradition and backed by 11 major global banks aims to remove the competitive advantage of low-latency trading in FX.
Isis Early Results Show Consumers Doubling Merchant Visits in Salt Lake City (Feb. 7, 2013)
Feb. 7, 2013 Consumers are responding positively to merchant offers in the Isis Mobile Wallet test, according to early data since the pilot launched in late October in Salt Lake City and Austin, Texas, according to Jim Stapleton, Isis chief sales officer. “What we are seeing is once they leave the store, about two-thirds [of consumers […]
InComm to Supply Utah Transit Authority with Prepaid Contactless Card (Feb. 7. 2013)
Feb. 7, 2013 The Utah Transit Authority (UTA), which has been at the forefront of U.S. transit system mobile payment development since introducing an open-loop, contactless payment system for city buses and trains in Salt Lake City beginning in 2009, this fall plans to add a contactless, closed-loop prepaid card to its consumer payment options. […]
Atlanta Fed Paper Examines Money Laundering Risks for GPR Cards (Feb. 7, 2013)
Feb. 7, 2013 Do GPR cards pose significant money laundering threats? That’s the question the Retail Payments Risk Forum at the Federal Reserve Bank of Atlanta explores in recently published paper. Among the paper’s findings is that, as GPR prepaid cards have grown in popularity and come under increased scrutiny by regulators, significant regulatory measures […]
Amazon to Debut Virtual Currency in Bid to Amp up Apps (Feb. 7, 2013)
Feb. 7, 2013 Online retail giant Amazon is looking to beef up its app offerings, and to help with the goal, the company is turning to virtual currency. Set to be released in May, Amazon Coins can be used to buy apps from the Amazon Appstore and to make in-app purchases via Amazon’s Kindle Fire […]
Kuwait International Bank Releases Third Visa Prepaid Card (Feb. 7, 2013)
Feb. 7, 2013 Kuwait International Bank (KIB) has launched a new Visa-branded prepaid card, adding a third prepaid product to the bank’s offerings. The card’s release was timed to coincide with the country’s National & Liberation Day. “The national celebrations are an important aspect of Kuwait’s society, and Kuwait International Bank is taking part in […]
BAML targets Asia Pacific treasury management
Bank of America Merrill Lynch has launched a treasury management reporting tool, CashPro Accelerate, in Asia Pacific.
Funds managers sign with Eurex for OTC derivatives clearing
Next month, the European Commission’s EMIR regulation on the central clearing and reporting of OTC derivatives is due to take effect in Germany. Investment managers Insight Investment and OFI Asset Management have begun clearing OTC derivatives on Eurex via its new service, EurexOTC Clear.
New BAML trading system aims at “disillusioned” investors
Bank of America Merrill Lynch is seeking to attract long-term investors who have become disillusioned with equity markets. Its new trading system, Instinct Natural, is a crossing network that is clearly geared towards customers that want to trade in blocks. But market participants have expressed concerns about its potential to meet the needs of long-term investors.
Banco do Brasil, i2c Kick off Partnership with Student GPR Card (February 2013)
February 2013 By Adam Perrotta, Assistant Editor Recent months have seen the release of a spate of payment products targeted for use by Brazilians, whose country is rapidly emerging as a hotbed of financial services development. More than half of the country’s population of more than 200 million is underbanked, according to a MasterCard […]
National Bank of Abu Dhabi rewires banking system
The National Bank of Abu Dhabi is strengthening the resilience of its internal technology as it seeks to embrace mobile and expand its coverage beyond the United Arab Emirates.
Industry veteran jumps ship to mobile operator payment venture
Weve, the advertising and commerce joint venture between mobile network operators Vodafone, O2 and EE, has hired payments industry veteran David Sear as its permanent chief executive.
Singapore CLTX poaches Langley from UBS
Singapore’s Cleartrade Exchange has appointed Mark Langley as its new Asia business development director as it seeks to expand its presence in commodity futures.
MCX Reveals Plans for Barcode-/Cloud-Based Approach (February 2013)
February 2013 By Kate Fitzgerald, Emerging Payments Editor The retailer-led mobile payment venture Merchant Customer Exchange (MCX) has disclosed little about the shape of its developing payment platform since it formed six months ago, but the few details emerging so far are fueling fresh waves of industry buzz. At a panel during the National […]
Visa Sets EMV Liability Deadline for ATMs, Opens up Chip Technology (Feb. 5, 2013)
Feb. 5, 2013 Visa Inc. has taken two more steps forward in the U.S. transition toward EMV by setting new deadlines and liability shift dates for third-party ATM acquirers and announcing that it would provide some of its proprietary EMV chip technology to debit card issuers free of charge to facilitate chip adoption industry-wide and to […]
mPowa Strikes Deal with Portugal Telecom (Feb. 5, 2013)
Feb. 5, 2013 U.K.-based mobile payments provider mPowa has inked a white-label deal with Portugal Telecom Group that will enable the carrier to offer small businesses a card reader-based mobile payments service. Financial terms of the deal were not disclosed, but TechCrunch reports it was a multimillion-dollar pact with a seven-year term. The partnership opens […]
Cardplatforms to Develop Payroll Programs with Experian (Feb. 5, 2013)
Feb. 5, 2013 Experian, an information services company and major credit bureau, has announced it will provide Cardplatforms LLC with its international authentication services to help the prepaid card services provider roll out prepaid cards worldwide. Cardplatforms will incorporate its prepaid card issuance network with Experian’s verification services, Prove-ID and AutoDoc-ID, to launch a payroll […]
PIF Launches Chapter for Middle East (Feb. 5, 2013)
Feb. 5, 2013 International not-for-profit trade association Prepaid International Forum (PIF) is launching a regional chapter for the Middle East. Executives from PIF’s regional Chapter Patron, TSYS, have been working with the association’s central body to coordinate the chapter launch, which will include an inaugural meeting on Feb. 18 in Dubai. Invited organizations will consider […]
Urban Trust Shutters Overdraft for Prepaid Cards (Feb. 5, 2012)
Feb. 5, 2012 As of Feb. 1, Urban Trust Bank (UTB), a federally chartered community bank, is no longer offering overdraft protection on its Visa Prepaid Debit Cards. The decision comes after a “careful and thorough evaluation of the prepaid cards’ features in an effort to streamline the cards’ offerings and to best serve the […]
India’s MCX-SX prepares for February launch
Indian exchange MCX Stock Exchange has set a date to begin trading in equity derivatives, in a move that opens up a new front in the competition between India’s dominant BSE and NSE exchanges.
Japan Exchange merger attracts algo trading specialists
As Asian markets continue to lure international investors, participants on Japan’s new Exchange will now be able to get market access and algorithmic trading tools from data and analytics company S&P Capital IQ, which has chosen to locate itself at KVH’s datacentre in Tokyo.
Mobile to dominate rise in retail bank IT spending
Further evidence that bank IT spending is growing again comes from industry analysts at Ovum, which is predicting overall growth of 3.4% among retail banks, reaching $118.6 billion in 2013, as they focus on “customer satisfaction and revenue growth”.
Green Dot Revenue Up on Card Use, Spending Growth (Feb. 4, 2013)
Feb. 4, 2013 Prepaid issuer and program manager Green Dot Corp. said its revenue jumped 15 percent in the fourth quarter of 2012 compared to the previous year, with the growth largely due to upswings in card activation and consumer spending. The Pasadena, Calif.-based company took in $137.3 million in last year’s final three months, […]
Facebook Expands Gifting Program with New Card (Feb. 4, 2013)
Feb. 4, 2013 Facebook is expanding its brick-and-mortar gifting program with the launch of its own branded gift card. The Facebook Card began rolling out last week, the social network said in a blog post, with availability “gradually” expanding to more U.S. users. The preloaded card can be purchased within the Gift Cards & Digital […]
