Are trends eclectic for artificial intelligence (AI)? Perhaps not as the fintech world is getting more imaginative and calling for the machines to negotiate on behalf of less-than-objective humans. At this morning’s (26 June) sessions at Money20/20 in Copenhagen, the themes of AI use cases in financial services and fraud were discussed.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Long-term growth will require the commercial banking industry to embrace digital transformation in a way that benefits the institutions’ stakeholder base and satisfies the needs of its end-user clients. And here are three reasons why a commercial bank should consider transformation.
Softbank has upped its investment in security firm Cybereason, as the focus on artificial intelligence (AI) continues.
Rabobank is modernising and centralising its cross-border payments operations. The software supplier for the new payments hub is Finastra (formerly Misys and D+H).
Some people have got deep pockets, because the funding fun never ends. Our latest round-up features Soldo, Atom Bank, British Business Bank, BlackRock and Scalable Capital. Multi-user spending account, Soldo, has reported a Series A funding round of $11 million, led by Accel and includes participation from Connect Ventures, InReach Ventures, U-Start and R204 Partners. […]
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 […]
Richard Steggall didn’t even set foot in the U.S. until he was approaching 30. So, what prompted the native Aussie by way of London to set up a fintech shop in New York—first as Waspit, then as Urban FT, the SaaS-based digital payments platform he now heads? It was, of course, American optimism.
More than $809 billion is set to switch to the fledgling instant payments system in Europe by 2027, representing a significant threat to cards, according to a new report from Ovum, a London-based consultancy. Instant, or real-time, payments enable account-to-account bank transfers in seconds instead of days.
If there is any doubt in which direction the technology world will head next, its being brushed aside by Amazon Web Services (AWS); voice is the natural progression. Telecoms.com (Banking Technology‘s sister publication) reports. Speaking at TechXLR8 in London, David Low, “principal evangelist” at Amazon Alexa EU, highlighted that the voice user interface will be […]
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!
Probably not. Even so, the case for virtual prepaid accounts is growing stronger. A journey through the landscape—including a stop at a recent Apple conference—shows why.
Fintech titan Finastra is turning to IBM to power its banking operations with cloud and cognitive technologies. As reported yesterday (14 June), Misys and DH Corporation (D+H) joined forces to create Finastra, the third largest financial services technology company in the world. With Finastra now officially alive and kicking, it’s wasted no time in showing […]
Avaloq has hit back at Temenos’ claims that it is “trapped in a relatively small geography” by pointing to its revenue rise and innovation drive as reasons for something to be cheerful about.
Swiss core banking software vendor Avaloq is prepared to tap into the potential of blockchain and Bitcoin over the next 12 months as it seeks to experiment and innovate more in these areas.
US tech giant Fiserv has offered to buy Monitise, a UK-based mobile payments software and solutions provider. The cash offer to acquire is at 2.90 pence per share – valuing Monitise at approximately £70 million.
Global funds transaction network Calastone says it has “successfully” completed the first phase of its blockchain distributed market infrastructure proof-of-concept (PoC).
Japanese tech conglomerate SoftBank continued its drive to take centre stage in the evolution of the tech industry with the acquisition of Boston Dynamics from Google/Alphabet. Telecoms.com (Banking Technology‘s sister publication) reports that Boston Dynamics has been a fairly high profile robotics pioneer in recent years, specialising in humanoid and quadrupedal machines apparently designed to […]
It wouldn’t quite be June if we didn’t have rain or Cisco’s annual visual networking index (VNI) forecast. We’ve had plenty of rain, now it’s time to tuck into some stats! Telecoms.com (Banking Technology‘s sister publication) reports that you probably didn’t need us to tell you, but internet traffic is going to grow. The total […]
Tata Consultancy Services (TCS) has unveiled its Bancs app development kit (ADK) to let banks design and build their own apps. The firm says the ADK enables financial institutions to build their digital offerings without the need for mobile development skills. The ADK comes with its own array of widgets, controls and components; and the […]
Australia Post is partnering with processor i2c Inc. to “expand and modernize” its digital payments offerings. Under the pact, the Australian postal service will use i2c’s Agile Processing platform to roll out enhanced digital functionality for its payments products, including the Load&Go GPR Visa card, along with gift, multicurrency travel and corporate incentive cards. The i2c platform also will underpin future financial services products from Australia Post.
Anders la Cour, CEO of ground-breaking payments utility Saxo Payments Banking Circle, which is underpinning the service propositions of a growing number of payments businesses, reports on the payment pain points currently faced by merchants who have ambitions to trade globally.
HSBC Commercial Banking has launched its Connections Hub, a digital platform to connect buyers and sellers around the world. Businesses in Canada, China, Hong Kong, India, Mexico, Singapore, the UK and the US can sign up to the multi-lingual hub for free. The service will be available to customers in France in the coming weeks […]
Apple has unveiled Pay Cash as it looks to fight it out with PayPal, Square and Venmo in the overcrowded peer-to-peer (P2P) payments market. In a range of updates to its mobile operating system, iOS 11, new features to the iPhone and iPad are coming this autumn. Apple Pay users will be able to make […]
The Centre for Finance, Technology and Entrepreneurship (CFTE), a new educational platform for the finance industry, has been unveiled. “In a tech world, we bet on people,” CFTE states.
Oracle has announced a number of updates to its security portfolio focusing on leveraging the buzz surrounding machine learning, artificial intelligence (AI) and contextual awareness technologies.
Banking Technology and BearingPoint conducted a survey to find out the industry view on regtech and its implications for all parties involved. The findings are now available in this nifty infographics.
A.J. Koehn has joined Urban FT Inc., a digital payments platform provider and 2017 Pay Awards winner for Startup of the Year, as its new senior vice president of compliance and program management.
Visa is beefing up its Verified by Visa authentication service. The payments network said it’s upgrading its back-end to support 3-D Secure 2.0. The 3-D Secure messaging protocol was invented by the network more than 15 years ago and has become an industry standard for online authentication.
Fidor, a digital banking solutions provider, has appointed Jeff Hibbard chief product officer. Hibbard’s focus is on driving product innovation for Fidor’s operating system.
A recent Reuters article explored how companies like Cobol Cowboys make a fortune helping banks who struggle to keep their legacy systems running. But in fact, the real problem is not legacy IT, that’s just a symptom of the root problem in banks… the decision makers.
Barclaycard has begun trialling a new payment concept that lets consumers scan and pay for their shopping using their smartphone, without the need to visit a physical checkout. Called Grab+Go, it’s the firm’s plan to turn a smartphone into a “pocket checkout”, allowing users to scan the items they want to buy as they pick […]
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.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
A lack of understanding and trust in technology is stalling mainstream adoption of innovative new fintech services, according to HSBC’s research. The bank’s report, “Trust in Technology”, shows that technologies such as fingerprint recognition, voice recognition and robo-advice “hold enormous potential” for uses from bank security to mobile payments and investment advice. John Flint, global […]
The EU Network and Information Security Agency (ENISA) has joined forces with the semiconductor industry in a bid to improve the continent’s cybersecurity, reports Telecoms.com (Banking Technology‘s sister publication). As ever region-wide initiatives such as this tend to be glacial affairs, but this announcement comes at a time when both cyber and physical security are […]
Supercard, a new card and mobile product launched by Travelex and Wirecard last June, is now being sunsetted.
Exploring how the robotic process automation (RPA) powered digital workforce looks to disrupt the manual effort intensive regulatory compliance landscape in BFS, what edge it has over its human counterpart, the roadmap towards RPA driven compliance, challenges in this digitisation journey and success mantras, and innovations that are underway towards building intelligent RPA to replicate human decision-making.
Google has a new plan to become a bigger player in payments. The search engine and web marketing giant said that it’s enabling merchants and developers to “turbocharge checkout conversion” by making it easier for consumers to use the credit cards and debit cards stored with Google.
This free webinar provides a discussion around how to utilise e-signatures to unlock the full potential of mobile banking applications.
