Welcome back to these pages – and the almost final installation of a series that was started some months ago, talking about some of the grand sweeping statements that we hear, and make.
Do you know any special women in technology who have made a huge contribution to fintech? Then we want to know! Banking Technology and FemTechGlobal, a global diversity and inclusion organisation, are again on the look-out for all amazing women who deserve the Woman In Technology (W.I.T.) Award, part of Banking Technology’s 2017 annual Awards show. […]
As promised, Congressional Republicans have introduced joint Congressional Review Act resolutions to repeal the CFPB’s recently finalized rule on arbitration agreements. The House is expected to vote July 25 on its version of the resolution (HJR 111), which Rep. Keith J. Rothfus (R-Penn.) introduced in the House on July 20 with 33 co-sponsors.
It’s hard to say which is more compelling. On July 21, Paysafe Group plc announced plans to acquire Merchants’ Choice Payment Solutions for $470 million while also considering its own buyout bid from Blackstone and CVC Capital Partners, which the Telegraph reports is worth £2.9 billion (US$3.7 billion).
iPayment Inc., a payments processor that specializes in small and medium-size businesses, has hired industry veteran John Badovinac to serving as vice president, integrated payments.
Fintech zeitgeist! Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye. This week, Claire Calmejane, director of innovation at Lloyds Banking Group, presents “Digital Zero to Hero: Myth Debunking”. (This is part of a series […]
NCR Corp. on July 24 announced partnerships with Grubhub and DoorDash that it says will improve payments, order-ahead and delivery services for restaurants.
National Bank of the Republic of Belarus, the country’s central bank, says it has created an information network based on blockchain technology, “which may be used to tackle a wide range of modern and promising banking and non-banking tasks”.
Ant Financial created the world’s largest money market fund in four years by enabling mobile wallet users to move money to the fund simply within the mobile app. The program’s meteoric rise shows that consumers are willing to adopt financial services from new players and the mobile device can supercharge that consumer shift of assets if incumbents don’t react quickly enough.
It was a busy week for second- and fiscal third-quarter earnings reports, with American Express, Bank of America and Visa all beating Wall Street expectations, and Blackhawk Network, which also beat analyst predictions, talking international growth, double-digit digital gift card sales and new partner Target set to roll out in Q3.
Microsoft has put in another solid performance with quarterly revenues standing at $24.7 billion, a 9% boost year-on-year, and full-year revenues of $89.95 billion, reports Telecoms.com (Banking Technology‘s sister publication). While the More Personal Computing unit, which for devices and gaming etc declined once again, the success of the more potent business units more than […]
Mastercard can breathe a sigh of relief as the £14 billion (US$18.15 billion) lawsuit—a collective action over card charges that were passed on to shoppers—has been stopped by the U.K.’s Competition Appeals Tribunal.
Banking software vendor Temenos is retaining momentum with software licensing revenues rising yet again. In its Q2 2017 results, it reported total software licensing revenues of 22% year-on-year. For the previous quarter, these figures stood at a respectable 19%. The Q1 results were notable as Temenos CEO David Arnott (answering a question from an analyst) […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
In payments, the big guys just keep getting bigger and more diversified. Ingenico Group on July 20 announced its €1.5 billion (US$1.74 billion) purchase of Sweden-based payments company Bambora from Nordic Capital.
Pay Award-winning Karmic, which offers an integrated payment and expense management solution, has raised $17.2 million in a Series B round of financing. Wei Hopeman and Jim Whims have joined its board of directors.
Oracle has continued its journey into the cloud, expanding an interesting proposition to target the data sensitive and paranoid.
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 […]
Less than two months following the initial announcement from partners Netspend, a TSYS Company, and United Airlines, the prepaid industry’s first air miles rewards card is now available online. Paybefore readers believe more prepaid providers will follow suit with air miles rewards of their own.
EquityZen, a secondary marketplace for trading pre-IPO shares, has taken in $3 million in funding this week, reports Finovate (Banking Technology’s sister company). This Series A round brings the company’s total funding to $6.5 million. Draper Associates led the round, with WorldQuant Ventures also participating. The EquityZen marketplace connects shareholders of private companies with its current pool of […]
It’s been a busy week for mobile wallet partnerships – and this round-up can help. Features Apple Pay, ANZ, CaixaBank, Starling and Samsung Pay. Banking Technology’s sister publication Paybefore reports. Australia and New Zealand-based banking group, ANZ, is rolling out Samsung Pay to customers in Australia. The bank says it’s the only major Australian bank […]
Mastercard has entered into an agreement to acquire Brighterion, a software company specialising in artificial intelligence (AI), reports Banking Technology‘s sister publication Paybefore. This acquisition follows Mastercard’s March acquisition of NuData Security and will further expand Mastercard’s capabilities to “deliver an enhanced customer experience and security”. Brighterion’s portfolio of AI and machine learning technologies provide real-time […]
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 UK’s HM Treasury is banning surcharges on credit and debit card payments. For prepaid card providers, the new rules put significant fee income related to card-loading at risk, according to Polymath Consulting. Banking Technology‘s sister publication Paybefore reports that the HM Treasury is putting an end to “rip-off” fees related to paying with a […]
Following on from yesterday’s fintech funding fun, here’s our latest round-up. Features Finstar Financial Group, Adjoint, Karmic and Trupay. Finstar Financial Group will invest $150 million into new start-ups over the next five years, Oleg Boyko, the chairman of Finstar, has confirmed. The money will also be used for research and development (R&D) within the […]
Here’s a twist on the usual cybersecurity stuff. Advisory firm Willis Towers Watson has launched a new diagnostic tool designed to assess people’s cyber readiness. The firm says its tool can be used to “recruit, lead and engage a more cyber-savvy workforce”. It reckons that roles in cybersecurity are “some of the most in-demand across […]
Despite a big push in its cloud-coated ambitions, IBM has revealed a drop in revenues for its technology services and cloud platforms. For its Q2 2017 results, revenues for this largest part of its business (including infrastructure services, technical support services and integration software) was $8.4 billion, down 5.1%. However, in its “strategic imperatives”, IBM […]
The U.K.’s HM Treasury is banning surcharges on credit and debit card payments. For prepaid card providers, the new rules put significant fee income related to card-loading at risk, according to Polymath Consulting.
Mastercard has entered into an agreement to acquire Brighterion Inc., a software company specializing in artificial intelligence. This acquisition follows Masterdard’s March acquisition of NuData Security and will further expand Mastercard’s capabilities to “deliver an enhanced customer experience and security.”
Artificial intelligence (AI) will be baked into nearly every new software product and service by 2020, but the rush to claim AI integration today is causing confusion, according to a new report from analyst firm Gartner. Light Reading (Banking Technology’s sister publication) reports that while virtually every company across industry verticals is busy today figuring out […]
UK-based innovation foundation Nesta has revealed the 20 fintech firms who will participate in its Open Up Challenge as it looks for services, apps and tools for SMEs – with a £5 million prize fund on offer. As reported in March, Nesta launched its challenge – open to entries from anywhere in the world that […]
It’s been a busy week for mobile wallet partnerships. Several companies announced deals to offer mobile wallets to their customers in the U.K., Australia and Europe. Challenger bank Starling says it’s the first in the U.K. to offer in-app provisioning.
You’ve come to the right section for cash injection. Today’s fintech funding round-up features Contego, Privitar, Form3 and Barclays. Maven Capital Partners, a UK private equity house, has led the £3.5 million investment in Contego Fraud Solutions to support its growth plans. Maven is putting in £1.8 million, NVM Private Equity is investing £1.5 million, […]
Daily News at Sibos, the highest profile news publication at Sibos 2017, is written and produced by Banking Technology for the duration of the event. A flagship Sibos publication does not only bring the most important news and happenings of the day, but is also a great way for companies to showcase thought leadership, breaking news, feature articles or exclusive interviews with […]
Blend, a start-up that helps lenders make mortgage lending decisions, has unveiled a native mobile app, reports Finovate (Banking Technology’s sister company). The San Francisco-based company’s launch of Blend Mobile aims to let loan officers manage borrower requests and applications on their mobile device in order to facilitate communication between the two parties. Founded in 2012, […]
France-based payments technology provider Worldline is expanding its global footprint with a definitive agreement to acquire 100% of the share capital of Digital River World Payments (DRWP), an online global payment service provider from Digital River Inc. Banking Technology‘s sister publication Paybefore reports that the acquisition, which is expected to close in the third quarter […]
Aditya Challa of IMImobile takes a look at some current and future applications of artificial intelligence (AI) for customer experience in the financial and banking sector, as well as the challenges that still need to be overcome. Beyond the current race to build chatbots, he predicts that voice-driven AI services will ultimately become the main […]
The partnerships keep coming for PayPal. Following recent news that the company is partnering with Apple for payments on iTunes and in the App Store, the company announced July 17 that it’s expanding its partnership with Samsung to enable PayPal as a payment method in any channel Samsung Pay is accepted.
For financial institutions lacking the deep pockets of the biggest competitors, investing their limited resources to develop disruptive payments solutions isn’t a viable option. Stated simply, you can never outspend the big guys. What you really need is a more effective weapon to level the playing field.
