When was the last time you visited a bank branch? While the rise of the internet, banking shifted the customer interaction from the branch to the web, the business was still owned and run end-to-end by the bank and at lower cost. For a few years now, the landscape has altered significantly bringing Kodak to […]
Data breaches are nothing new – quite the contrary – in fact their very frequency makes it likely that we’re fatigued to the point of indifference by the number of leaks which are surfacing, reports Telecoms.com (Banking Technology’s sister publication). Knowing the value of money is a lesson parents have been teaching children for years, […]
Exchange Data International (EDI) says it has broken the NYSE corporate actions monopoly with its launch of a “like-for-like service at less than 50% of the redistribution costs charged by NYSE”.
Big Xyt, a smart data and analytics provider, has unveiled its new hub for trading firms to integrate tick data and analytics via a single API. According to the firm, the Xyt hub allows companies to consume, analyse and visualise data through cloud-based technologies, featuring Data-as-a-Service (DaaS) and nice Analytics-as-a-Service (AaaS) functionalities. Bats has signed […]
Quickly following on from the fintech funding round-up on 11 September, here’s more action in a concise form. Features InfoSum, Neyber, Goldman Sachs, Forward Partners and BlackRock. Data tech start-up InfoSum has added $5 million to its seed funding, taking the total raised to date to $8 million. Joining existing investors Mark Suster (Upfront Ventures) […]
Ahead of FinovateFall’s kickoff in New York today, Paybefore spoke with BioConnect Chief Identity Officer Bianca Lopes about all the biometrics buzz in payments and the financial services industry. Her advice to companies looking to invest in biometrics: Don’t forget about the users.
The fintech funding is on fire. Following on from yesterday’s (6 September) action, here’s another round-up. Features ABN Amro, Cloud Lending Solutions, Dataiku, EY and Innovate Finance. Amsterdam-based ABN Amro has made an undisclosed investment in US-based Cloud Lending Solutions (CLS) – the second by the bank’s Digital Impact Fund (DIF) and in line with […]
It might seem obvious, but sometimes we just need to be reminded of how much information we give away without thinking about it.
Nasdaq will acquire eVestment, a content and analytics provider used by asset managers and investment consultants, for $705 million funded through a mix of debt and cash on hand. According to Nasdaq, eVestment provides investors a database for both traditional and alternative strategies, including 2,800 individual data points on more than 74,000 investment vehicles. eVestment […]
FIS, a global financial services technology company, has joined forces with information specialist Equifax to create OnlyID, a digital authentication solution that enables consumers to make secure transactions across multiple online accounts without passwords.
As businesses cope with an explosion of data and users who expect real-time insights, many have turned toward in-memory computing solutions. As a result, in-memory computing platforms are becoming key infrastructure components for a growing number of organisations.
Market players are bullish on the near- and longer-term promise of fintech, according to new research by Opimas, “Fintech Spending and Innovation in Capital Markets”. In 2017, it estimates fintech spending across all capital markets participants to exceed $127 billion.
HSBC and IBM are working on a project “to develop a cognitive intelligence solution combining optical character recognition with advanced robotics to make global trade safer and more efficient”.
Big data and text analytics firm Hello Soda has launched Fraud Web, a new software solution built to combat identity fraud committed through the untraceable internet. The company says Fraud Web identifies the risk of consumer data being available for sale on the dark web and issues high, medium and low risk alerts so that […]
They say the proof is in the pudding. For CPI Card Group, it’s a case study showing how its instant issuance technology Card@Once saved an issuer significant time and money after customers were affected by a retail data breach.
Machine learning continues to take center stage in fraud prevention for the payments industry. Mexico-based payments processor MIT will use U.K.-based Featurespaces’ real-time, machine-learning platform to detect anomalies in individual behavior for fraud and risk management for its 17,000 merchant partners.
The delightful duo of big data and cybersecurity have fuelled the revenue rise for IT services corporation Atos. In its first half 2017 results, Atos’ “strongest H1 ever”, the firm revealed a revenue in big data and cybersecurity of €357 million – a rise of 13.8% organically. Thierry Breton, chairman and CEO, says: “Either on […]
It’s a treble yell! Following quickly on from 18 July and 19 July, this latest fintech funding round-up features Receipt Bank, Billon Group and TickSmith. Receipt Bank, a bookkeeping automation platform (not an actual bank), has raised $50 million in Series B funding from Insight Venture Partners. The investment will be used to accelerate growth […]
An early interest in credit cards hooked Jim Schafer on payments. Since then, his work has taken him across the globe in roles as diverse as programming and human resources. But it’s his current role as senior compliance director of FIS Payments that has led him to be named one of Paybefore’s Compliance Titans.
In preparation for GDPR compliance, a global financial services organisation embarked on a journey to assess its core information processing environments with the objective of identifying opportunities to strengthen its privacy data protection programs. This article focuses on the technology challenges, approach, and lessons learned for the centralised testing environment.
The financial services industry is already embracing the internet of things (IoT), using devices to collect data that needs to be analysed in real time and stored for historical analysis.
In 1957 the US market researcher James Vicary claimed he could get moviegoers to “drink Coca-Cola” and “eat popcorn” by flashing messages onscreen for such a short time that viewers were unaware they had seen them. The term “subliminal advertising” was coined to describe this unnerving practice and it was subsequently banned in many countries.
Prepare for cybersecurity impact! IT services corporation Atos has launched the “world’s first commercially available” machine-system capable of simulating up to 40 quantum bits (Qubits). The simulator, named Atos Quantum Learning Machine (Atos QLM), is powered by an ultra-compact supercomputer and a universal programming language. Its uses naturally extend far beyond fintech, such as for […]
There is far more to regtech than regulatory technology, or at least there can and should be. Regtech, as it is coming to be understood, must be something qualitatively different from what it’s replacing and not just a faster and better version of the same thing.
Banking Technology is on the lookout for all the best FinTech projects of the year! Recognising excellence, innovation and the use of IT in banking and financial services, the Banking Technology Awards will be taking place on 13 December in London. Think your achievements deserve a special recognition? Or know projects that do? Nominate today […]
Amsterdam-based mobile network operator and technology company VEON has partnered with Wirecard AG as part of a global payments and processing agreement. Wirecard, a Germany-based provider of global payments solutions, now manages third-party payments functionality and airtime top-up on VEON’s Internet platform, enabling customers to upload funds and update mobile payment accounts within seconds, according to an announcement.
This year’s Banking Technology Awards are taking place on 13 December in London and once again we will be recognising individuals for leading and playing an instrumental role in devising and/or delivering the technology strategy to support the key business objectives of an organisation. The Tech Leadership Award category is open to all industry participants worldwide – those […]
Know any innovative products, inspirational projects, skilled teams or visionary leaders that deserve a special recognistion this year? Nominate them for a Banking Technology Award!
As in-memory computing (IMC) gains momentum across a wide range of applications, from fintech and ecommerce to telecommunications and internet of things (IoT), many companies are looking to IMC solutions to help them process and analyse large amounts of data in real time.
An explosive growth in data and information, coupled with advances in technology and a boost in methods of communication, have given rise to an empowered and aware global customer. And to provide legendary experience to their customers, maintain a competitive edge and to make better and sound decisions, organisations need to harness insights from this ever growing “big data”.
All payment providers and merchants grasp the dynamic nature of fraud. But fraud prevention requires more than the latest software and security protections—it requires active collaboration. Here’s why.
Chipotle Mexican Grill said that whoever hacked into payments system used malware that searched for consumer track data read from the magnetic stripes of cards.
Keeping high data quality in customer relationship management (CRM) should be among banks’ top priorities! We explore how outdated customer profiles and poor data quality may hurt banks’ efficiency.
Retailer Target recently agreed to pay $18.5 million as part of a settlement with 47 states and the District of Columbia that stems from 2013 data breach. The news is a stark reminder of how costly and prolonged the process of recovering from a breach can be, which is why security continues to be at the forefront of payments news with three companies making significant announcements this week.
Target Corp. has agreed to pay $18.5 million in a settlement with 47 states and the District of Columbia that stems from a November 2013 data breach of the Minneapolis-based retailer. The breach affected more than 41 million customer payment card accounts and exposed contact information for more than 60 million customers.
Apple has reportedly made another sly move into the world of artificial intelligence (AI) through the $200 million acquisition of dark data firm Lattice, reports Telecoms.com (Banking Technology’s sister publication). The purchase has been brought to light by TechCrunch, and will add a small, but respected team of AI engineers to the ranks of the […]
UBS is selling its risk and performance analytics service, UBS Delta, to StatPro Group, a provider of cloud-based portfolio analysis and asset pricing services for the global asset management industry.
How a vendor’s acquisition of a big bank’s platform has led to the development of a utility. Credit Suisse talks about its fees and expense management transformation journey.
Terminal maker Verifone says it’s investigating a breach that involved an attempt to get into its corporate network and targeted U.S. merchants. The company, which sells point-of-sale technology, says the Jan. 17 incident has not resulted in any misuse of data.
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