With its increase in innovation BBVA has created a Global Patent Office (GPO) to protect its intellectual property (IP) – particularly in biometrics and artificial intelligence (AI). The GPO will put the bank’s IP work in a single office and offer collaboration between departments, agents and training. Don Relyea, director of the BBVA global patent […]
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 […]
German payments company AEVI and Australian software firm Moroku have teamed up to offer POS software in AEVI’s B2B app store. Called Marrakash, Moroku’s software is for small retail and hospitality merchants that integrates their business, products, customers and payment systems into one platform. Moroku says it lets firms run their business “entirely from a […]
TradeIX has launched its TIX Platform, the “first open platform” for trade finance powered by blockchain. The platform provides banks, alternative funders, business-to-business (B2B) networks, technology providers and corporates with a way to finance trade-related assets. Like everyone else commenting on trade finance, Rob Barnes, CEO of TradeIX, says the market has “high-cost, high-maintenance, time-consuming […]
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 […]
Mastercard has unveiled a B2B Hub to help small and midsize businesses speed up invoice and payment processes with accounts payable and payment automation tools.
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.
Moving incentives to virtual prepaid cards is an important trend, but Philip Morris International is taking its incentives a step further with blockchain. The cigarette company and fintech firm Billon Group reportedly have completed a test replacing prepaid cards with the distributed ledger technology, enabling digital and mobile payments.
Mastercard has unveiled its B2B Hub to help SMEs speed up invoice and payment processes with accounts payable and payment automation tools. According to the firm, a majority of all B2B payments in the US are still made via cheque with manual payment processes. The Mastercard B2B Hub, delivered through card issuers, is an automated […]
For those worried about artificial intelligence (AI) taking over the world, the University of California has got your back with an idea to make robots neurotic to stop them getting too cocky, reports Telecoms.com (Banking Technology‘s sister publication). One of the concerns which has been raised through the implementation of AI, and also the advancement […]
Craig James, founder and CEO of compliance consultancy Neopay, views compliance like a chess match—you have to know the board better than everyone else, so nothing surprises you.
It felt like only yesterday (7 June) that we published a fintech funding round-up. In fact, we did. But this latest version features Kasikornbank, Lmrkts, International Finance Corporation and Entersekt. Kasikornbank (Kbank), one of the largest banks in Thailand, has launched its “Beacon Venture Capital” investment unit with $30 million on hand to support start-ups […]
Fintech funding can be an intense blur of money, jargon and unerringly similar expansion plans. Here’s a round-up that gets to the heart of the matter. Features Plynk, IHS Markit, Barclays, Goldman Sachs, HSBC, Morgan Stanley and Wahed. Ireland’s Plynk, a money messaging app, has revealed a Series A raise of €25 million. Led by […]
Large-scale operational projects within asset management firms are notoriously ambitious, incredibly complex and extremely hard to deliver. Global system implementations are a common culprit, where often multiple applications (some legacy) are being replaced.
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 made a bold foray into the P2P money transfer market—and Green Dot is helping the tech giant in its bid to unseat Venmo and other established players in the increasingly crowded space.
The U.S. Justice Department may have dropped its antitrust suit against American Express, but 11 states want to press on in a case that started in 2010. At issue is the company’s push to prevent Amex-accepting merchants from offering shoppers financial incentives to use other card brands.
On the heels of expanding into the B2B sector earlier this year, cross-border payments specialist Flywire has acquired PACE Invoice, a multicurrency invoicing platform provider based in London. The purchase bolsters Flywire’s offerings to enable its business, education and health care clients to more easily link invoices to cross-border receivables, increasing efficiency and savings, according to the company.
Chicago-based private equity firm GTCR said it will buy Sage Payment Solutions, the Virginia-based merchant-services offshoot of U.K.-based Sage Group, for $260 million. Sage Group sells business software, and Sage Payment serves some 100,000 merchants.
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.
A new instant-issuance product from CPI Card Group promises faster card processing times along with higher resolution printing. Called Precision by Card@Once, the system is designed to improve security and the customer experience.
You’ve heard of wearables—now meet “drinkables.” Global Processing Services (GPS) is helping support a new energy drink marketing campaign featuring special bottles equipped with contactless chips, each preloaded with a credit for a trip on the London Underground. The campaign for the Lucozade Energy brand launched last week, with bottles distributed free at major London train stations and commuter hubs.
Following Airbnb’s acquisition of crowdfunding and social payments start-up Tilt in February, it is now being wound down. Tilt (formerly Crowdtilt) was built with the aim to allow groups and communities to collect, fundraise, or pool money online. It was founded five years ago with high hopes. Its co-founder and CEO James Beshara said at […]
Ask most people about their experience with insurance, grudge purchase par excellence, and they’ll say it leaves a bitter taste in the mouth. Enter Lemonade, the New York-based insurtech combining the power of artificial intelligence (AI) and an approach founded on behavioural economics and customer centricity to offer homeowners and renters protection with a difference.
Following Airbnb’s acquisition of crowdfunding and social payments startup Tilt in February, it is now being wound down.
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, we sum up the predictions made by Google’s illustrious chief futurist, Ray Kurzweil, on what awaits us this century. 2019 Farewell cables. […]
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.
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”.
Sterling Bank and Trust, a new bank in the Bahamas, has selected the BankWare core system from UK-based International Financial Systems’ (iFinancial). The bank will be using the multi-currency accounting, exposure management, current accounts, deposits, loans, payments, and Swift modules from the BankWare portfolio of retail and wholesale banking solutions. The bank is part of […]
HSBC is entering the robo-advice market with the launch of a new online service for wealth management advice The service will use data and algorithms and will make personal recommendations based on an individual’s circumstances. It is expected to be available by the end of the year. The bank says this will “open up wealth […]
Deloitte has acquired design consultancy firm Market Gravity as it looks for a lift and the chance to moisten its creative juices. Founded in 2009 and headquartered in London with teams in New York, Edinburgh and Toronto, Market Gravity works across multiple sectors including financial services, retail, energy, telecoms and automotive. It recently helped UK-based […]
Earning top-of-wallet privileges from consumers requires deeper thinking about the what, when, where, why and how of loyalty rewards. But the most important ingredient is simplicity.
Breathless reports point to a terrifying increase in U.K. contactless fraud. Dig a little deeper, however, and the story changes.
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.
I can scarcely believe we’re approaching the halfway point of 2017. But I can’t think of a better time for the year’s biggest prepaid industry event. On June 21-23, the NBPCA will host its sixth annual Power of Prepaid conference in Washington, D.C. The business of compliance—not to mention keeping up with technology trends—is keeping everyone on their toes, but it’s vital to stop and reflect with colleagues about the state of the industry and its future. It’s also critical to actually talk to those shaping the legislation and regulations that determine the rules of the road.
DLA Piper’s John D. McGonagle speculates on what the rise of blockchain technology might mean for the future of banking, the feedback which the UK regulator FCA may receive from interested stakeholders, and some of the regulatory and legal hurdles which blockchain technology may need to negotiate in the near future.
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.
