On this heels of its record-breaking Prime Day, during which sales were up more than 60 percent over last year, Amazon is facing antitrust concerns from the top Democrat on the House Judiciary Antitrust Subcommittee. U.S. Congressman David N. Cicilline (R.I.) is calling for a hearing on the e-commerce giant’s $13.7 billion bid to acquire brick-and-mortar specialty grocery chain Whole Foods.
Move over M-PESA, customers of a Visa-led bank partnership in Kenya will be able to send money to each other domestically without paying transaction fees using mVisa, and the payments network has added additional in-store merchant acceptance for the QR-code-based payment method.
IBM has unveiled IBM Z, a new transaction system, capable of running more than 12 billion encrypted transactions per day and designed for use in the cloud. The firm is looking to address data breaches, which it reckons are a major factor in the $2 trillion cybercrime impact on the global economy by 2019. IBM […]
French payments technology provider Worldline is expanding its global footprint with a definitive agreement to acquire 100 percent of the share capital of Stockholm-based Digital River World Payments, an online global payment service provider from Digital River Inc.
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, David Siegel, CEO of Twenty Thirty, a Swiss-based blockchain company, offers up “Ten Simple Rules for Crypto-Investing”. 1. Put a small amount […]
FutureVault, a personal and business information management company based in Toronto, has named banking executive, lawyer, entrepreneur and investment professional John D. Orr as CEO. Orr also has made a significant personal investment in the company for a material ownership position.
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.
From a mystery to a European duet. Our latest blockchain and Bitcoin round-up features the secretive SafeToken, China’s Asset Collection Chain, Swissquote and Bitstamp. A former (and anonymous) Goldman Sachs employee has launched the first “anti-bubble” derivative for Bitcoin. They didn’t reveal their name in their email or on the website. A search around hasn’t […]
It didn’t take long for Congressional Republicans to pounce on the CFPB’s final rule on arbitration agreements, which the agency released on July 10. House Financial Services Committee Chairman Jeb Hensarling said he would support use of the Congressional Review Act to dismantle the rule, while Sen. Tom Cotton (Ark.) already has drafted a CRA resolution and is working with Senate Banking Committee Chairman Mike Crapo (Idaho) to introduce it “soon.”
More than a year into the merger with Australia-based EMerchants Limited, former Store Financial CEO Eric Mettemeyer, who now leads EML’s North America division, spoke with Paybefore about the company’s global efforts to expand beyond single-load gift and the greenfield in payout cards, gaming and more.
In a round led by Vertex Ventures, the venture capital wing of Temasek Holdings, Turnkey Lender has picked up $2 million in funding, reports Finovate (Banking Technology’s sister company). The Singapore-based company specialises in loan management technology, delivered over the cloud, that automates all stages of the lending life cycle – from application processing to collections […]
One small step for consumer choice in e-commerce. One giant leap in PayPal’s quest to be the payment option of choice for shoppers online, reports Finovate (Banking Technology’s sister company). This week the company announced a partnership with Apple to allow shoppers pay for their purchases at the App Store using PayPal. The feature will be available for users […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Aktia Bank finally live with Temenos T24 core banking system “Some system repairs will be carried out during the following weeks.” HSBC and Barclays pilot banking without borders Testing use of a citizen’s national digital identity. ANZ, Westpac […]
Vote for the challenger banks (licensed or not) that should make Paybefore’s top 5 Best Challenger Banks list. Share your opinions through Aug. 1. The top 5 vote-getters will be profiled on Paybefore.com.
One small step for consumer choice in e-commerce, one giant leap in PayPal’s quest for ubiquity. The company announced a partnership with Apple to enable shoppers to pay for their purchases in the App Store, iTunes, Apple Music and iBooks using PayPal.
American Express is the latest payments company to recognize the benefits of enabling virtual account numbers for business travel. The addition of virtual account numbers enables businesses to set usage dates and pre-authorize spending limits at the time of booking, helping reduce fraud and encourage compliance with company travel policies, Amex said.
In a copycat move that will come as a blow to Orange, rival Altice plans to launch its own online bank by early 2019 in the countries in its network footprint, according to a report from Reuters that cites a source close to the matter. Light Reading (Banking Technology’s sister publication) reports that the launch of […]
Enacomm Inc., which provides customer authentication and customer service technology, has hired David Baker as vice president of sales, financial services.
LCH SwapAgent has selected Murex’s MX.3 capital markets platform for trade processing, valuation, margining and member reporting. LCH SwapAgent was launched last year by LCH, a central counterparty clearing house, as a new centralised service for the non-cleared derivatives market. In this latest deal with Murex, LCH SwapAgent “aims to improve efficiencies” in the bilateral […]
Allfunds Bank Group is all for APIs with the launch of a new platform targetting the wealth management industry. The platform offers a “fully digitised way” of accessing Allfunds services by providing access to third party applications using standardised APIs which it says comply with emerging regulatory norms such as MiFiD II. Like many other […]
And the money keeps rolling in for fintech! Features Revolut, Curve, Pixoneye and Gridspace. Banking Technology’s sister publication Paybefore reports. UK challenger bank Revolut announced a $66 million investment from Index Ventures, Balderton Capital and Ribbit Capital, which the company will use to introduce new features and expand globally, starting with Asia and North America. […]
Cash is no longer king in the U.K., according to the British Retail Consortium’s annual Payments Survey, which found that debit card transactions accounted for almost 43 percent of all retail transactions in 2016, overtaking cash, which accounted for 42 percent of all retail transactions, for the first time.
Google has launched a new initiative, Gradient Ventures, its own VC arm to seek out artificial intelligence (AI) talent and invest in start-ups, reports Telecoms.com (Banking Technology’s sister publication). The initiative itself is a simple one. Google will provide funds and access to experienced engineers to help the start-ups develop to the next level. AI […]
And the money keeps rolling in for fintech. U.K. challenger bank Revolut announced a $66 million investment it will use to introduce new features and expand globally, starting with Asia and North America. Meanwhile, Santander InnoVentures, the bank’s fintech venture capital fund, has added U.K.-based Pixoneye and Curve and U.S.-based Gridspace to its portfolio.
Enterprise software firm R3 is working with Intel to beef up its data privacy and security for Corda, its distributed ledger technology (DLT) platform. R3, which used to call itself a blockchain consortium, says Corda only sends data to those who have a “need to know”. According to the company, this feature emerged from the […]
Designing products with staying power starts with understanding consumers and then adapting uses cases to solve their problems.
Hello all and apologies it’s taken a little while to get to the third instalment of the series about “pet peeve statements”. For those who are new, I am talking about those bold, declaratory statements that puff up the chest and make people feel awfully progressive and far sighted – and as I have said before, all sound and fury, signifying stormy waters ahead!
Data aggregation provider Finicity has signed an agreement with JP Morgan Chase to let the bank’s customers choose data to share with apps. The companies will use a direct API to allow Chase customers to share information with the apps and services that Finicity supports. According to the firms, this tokenised access will eliminate the […]
Broadridge Financial Solutions will acquire Spence Johnson, a provider of institutional data and intelligence, for its asset management market ambitions. With the purchase, Broadridge says its Global Market Intelligence, a platform for retail cross-border fund data and analytics, will be able to use Spence Johnson’s Money in Motion dataset that provides analytics on assets, flows […]
Santander is partnering with business commerce platform Tradeshift, for a digital capital solution, the first of which will be supply chain finance (SCF). As reported last year, Tradeshift got an investment from Santander InnoVentures. At that time, Mariano Belinky, managing partner at Santander InnoVentures, said the company “is at the forefront of tackling a very […]
Atlanta-based prepaid pioneer InComm has been granted a patent by the U.S. Patent and Trademark Office for a new method of printing activation barcodes and packaging prepaid products, which the company says will help retail partners fight fraud.
The OCC’s latest risk report for banks highlights competitive pressure from fintech companies, loosening of credit underwriting standards, operational risks associated with third-party service providers, and compliance risks around Bank Secrecy Act (BSA) and AML monitoring.
Kim Sergent has joined InComm as vice president of marketing for its Financial Services division, where she will lead the marketing strategy of InComm’s consumer-facing Vanilla brand, which produces prepaid consumer products that include Vanilla Gift and MyVanilla.
Nelson Holzner, newly appointed CEO of AEVI, talks to Banking Technology about the importance of innovation and simplification, and addressing real-life problems with working solutions. “Do more” is AEVI’s motto.
Volkswagen’s finance arm, VW Credit, has agreed to make an equity investment of an undisclosed amount in auto financing platform AutoGravity.
Reading doesn’t have to be a trial. Our latest blockchain and Bitcoin round-up keeps it ultra-brief. Featuring Mt. Gox, less than smooth criminals, the Council of the European Union and Coinsource. Mark Karpeles, the former CEO of collapsed Bitcoin exchange Mt. Gox, will go on trial in Tokyo next week on charges stemming from the […]
Just a few days after Vantiv and Worldpay made merger and acquisitions headlines in the payments world, here come Equiniti and Nostrum with some M&A news of their own in the lending space.
It’s difficult to say just yet who the ultimate victors will be in the battle over arbitration—trial lawyers, consumers, the financial services industry, Congressional Republicans or the CFPB—but the bureau fired the latest salvo by issuing its final rule on arbitration agreements on July 10. The move comes despite warnings from House Financial Services Committee Chairman Jeb Hensarling (R-Texas) that doing so could result in contempt proceedings.
U.K.-based W2 Global Data, a provider of regulatory, KYC/AML and fraud prevention solutions, has welcomed three new hires, including Alex Lafferty, Richard Evans and Kerry Cleary.
