US-based Kearny Federal Savings Bank has chosen to install bank processing and mobile payments technology from specialist firm Fiserv, which it says will help the bank increase efficiency and attract new customers.
PayPal users can withdraw money from their accounts and pick up the funds via money transfer company MoneyGram, following a deal between the two US firms that also will see PayPal customers loading funds into their accounts via MoneyGram by the end of the year.
Bloomberg has received approval to launch a Swap Execution Facility, ahead of the compliance deadline for new US Dodd-Frank rules for clearing of OTC derivatives.
US consulting, market data and technology firm Jordan & Jordan has chosen to launch its execution compliance and surveillance service on Nasdaq OMX FinQloud, the cloud computing platform built for financial services and powered by Amazon Web Services.
US post-trade utility the DTCC has agreed to acquire post-trade specialist firm Omgeo, in a deal that it says will help improve collaboration between investment managers, broker-dealers and custodian banks and reduce risk for market participants.
Delays to the controversial US FATCA rule have provided a valuable window of opportunity for financial institutions to prepare.
the US Securities and Exchange Commission says that its cloud-based approach is paying dividends and allowing it to examine the structures of the markets it supervises at a greater level of granularity than ever before.
Swift’s Innotribe innovation project has chosen the 15 US semi-finalists for its start-up challenge, which aims to bring together innovative ideas in financial services and turn them into functioning businesses.
MTS, the European electronic fixed income marketplace majority owned by the London Stock Exchange, plans to open a platform for US institutional investors, allowing them direct access for the first time.
The US Financial Industry Regulatory Authority has appointed Carlo di Florio as executive vice president, risk and strategy. In his new role, di Florio will lead FINRA’s office of risk, emerging regulatory issues, enterprise risk management and strategy.
Banks can breathe a sigh of relief following the publication of amendments to US Dodd-Frank Rule 1073 today, which should allay fears that draconian regulation was about to stifle cross-border payments.
It’s not just the banks that are struggling with the costs of regulation – so are the regulators. In the US. The Commodity Futures Trading Commission has requested a 52% budget hike to $315 million dollars – described by one of its own commissioners as “improbable and unsustainable”.
Nasdaq OMX Group is to acquire bond platform eSpeed from BCG for $750 million in a move that highlights the increasing tendency for large stock exchanges to diversify as capital markets revenues from equity trading continue to decrease.
Bank of America Merrill Lynch has launched a service aimed at helping smaller banks to cope with Dodd-Frank rules for US cross-border trades.
