Residents of the US, UK, Canada, Australia and Europe can now send money and set up rate alerts using TransferWise’s chatbot, launched on the Facebook Messenger platform. According to TransferWise, for regular payments between two currencies, rate alerts will keep users updated on the daily exchange rate. Scott Miller, TransferWise head of global partnerships, says […]
One is the loneliest number that you’ll ever do… so three stories in one will do better. Here’s a round-up of key events to save you time. Featuring Macquarie Bank, Apple Pay and more. The European Banking Authority (EBA) has relaxed its planned rules for increasing choice in how consumers pay for services and products […]
No more “one and done.” That’s central to Cachet Financial Solutions’ mission for its prepaid clients and was the impetus for platform upgrades that were nearly a year in the making. Paybefore spoke with Walt Granville, senior vice president of mobile innovation, about what’s resonating with clients and how Cachet is using optimized mobile apps to help them fight churn.
The Chicago-based startup enables consumers to easily purchase and redeem e-gift cards right from their smartphones, essentially turning unwanted e-gifts into a convenient and useful form of digital currency.
Banking software vendor Temenos has reported total software licensing growth of 21% and earnings growth of 20% in its full year 2016 results. The vendor is in a vivacious mood, saying it saw growth across all geographies, with Europe and Asia “particularly strong”. Non-IFRS total software licensing revenues in FY 16 were $256.2 million. Total […]
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 welcome the views of Richard Stevenson, CEO, Red Box Recorders, on the future of banking. Real-time converge, capture and analyse! This […]
There is pressure for CEOs to decide how distributed ledger technology (DLT) fits into their business strategy. Regulators also recognise that blockchain could advance their own processes. So what is all the excitement about? Blockchain is an exciting innovation but the technology has flaws…
The disruptive threat is real, but the battle is not lost. Download this white paper for practical advice on surviving and thriving in the era of internet giants and fintech start-ups.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
The mobile payment market is getting more congested every day. For banks, it’s the most frequent touchpoint – one that can help (re) establish everyday relevance and drive engagement. How can banks develop their strategy and prioritise the capabilities that will help them remain valuable to their customers?
IBM has unveiled a large ecosystem initiative as it opens the doors of its new $200 million global headquarters for its Watson Internet of Things (IoT) business in Munich, Germany. BNP Paribas, Capgemini and Tech Mahindra are some of the firms who will place development teams at the IBM centre. Harriet Green, general manager, IBM […]
Payroll card providers that operate in New York can breathe a huge sigh of relief. Global Cash Card tells Paybefore that its petition against the New York Department of Labor payroll card regulations due to go into effect on March 7, 2017, has been granted. The industry had been raising red flags about the regulations, which many feared would result in providers exiting the market, since first proposed in 2015.
Seeking to increase its foothold among customers who prefer cash, PayPal will spend approximately $233 million to buy Vancouver-based bill payment firm TIO Networks. The acquisition is not PayPal’s first move to gain the business of consumers using cash.
More than 5 million U.S. millennials don’t have a checking account, and a third say payroll cards would be a valuable way to receive wages. With their distaste for traditional bank accounts and high level of interest in payroll cards, millennials represent a natural and significant market opportunity.
In a Feb. 16 field hearing, the CFPB said it wants industry input on using alternative data to help thin- or no-file consumers build credit scores. It’s a challenge that many in the prepaid industry have been trying to solve for years to better serve cardholders who often are among the approximately 26 million U.S. consumers who don’t have a credit history and another 19 million consumers whose credit histories are insufficient to produce a credit score, according to CFPB estimates.
Major global transaction banks are now live with Swift’s global payments innovation (gpi) initiative.
With mobile money technology widely available, and so many citizens having access to a mobile phone, how many are actually banking in this way? What are the benefits available to them when using mobile money? And what does the future hold for this fintech innovation?
Life is a cabaret… and a fast one at that. Here’s a round-up of key events to save you time. Featuring KPMG, Microsoft, Hyperledger and more. Japan’s largest Bitcoin exchange Bitflyer has finished a new ¥200 million ($1.75 million) funding round from Dai-ichi Life Insurance Company, Mizuho Capital and SMBC Venture Capital. The banks’ backing […]
The case creates new issues surrounding standing and how to resolve and settle class action claims in the context of privacy and data protection suits, where some members of a group have not suffered concrete harm and thus may not be able to meet the concrete and particularized injury prong of the test for standing.
The CFPB is not required to comply with President Trump’s executive order limiting new regulations, according to a memorandum from The White House. Trump’s order—which requires covered agencies to repeal two regulations for every one new regulation adopted—does not apply to the CFPB, which is considered an independent agency.
Pay Award-winning Virtual Piggy said Feb. 14 it soon will begin testing a mobile wallet for consumers age 17 and younger, the latest move in the parent-supervised world of mobile payments.
Keeping current with the myriad and constantly changing rules and regulations in the payments industry is no easy feat. It takes special people who are sharp and determined to understand and navigate the legal minutiae and how they applies to their organizations or those of their clients. Paybefore is highlighting the achievements of these Compliance Titans, and we need your help.
You can read about fintech accelerators quickly with our latest round-up. Featuring RBS, BNP Paribas, Ben Franklin Technology Partners and the info on how to apply. Scotland has got its “first” fintech accelerator with the launch set for May. The new hub will be based in Royal Bank of Scotland’s (RBS) Entrepreneurial Spark business centre […]
Hellenic Bank has opened an innovation lab in its home city of Nicosia, Cyprus.
Capitalizing on consumer demand for cashback rewards, Blackhawk Network has launched a new rebate processing solution that helps utility service providers offer a rebate consumers can receive on the same day of service via prepaid card.
The ringleader of three highly organized, global cyberattacks on ATMs resulting in $55 million in losses was sentenced Feb. 10 to eight years in prison and ordered to pay more than $55 million in restitution.
Fintech zeitgeist! Welcome to our new series of brief reports. 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 welcome the views of our editor Tanya Andreasyan. Dear PR, we know you […]
Being quick does the trick. A round-up of key blockchain and Bitcoin events. Berlin-based blockchain start-up, Bit Trust Services, has opened its Bitcoin-Bank in Vienna, Austria. The bank’s ATMs exchange Bitcoin for euro, and vice versa. Vienna is no stranger to the virtual currency as three years ago it got its first bitcoin ATM and […]
Last week’s FinovateEurope was full of the broad range of exciting and innovative companies that we have come to expect at the show. Although the 72 companies showcasing their solutions operated right across the fintech landscape, they all sing from a common hymn sheet of improving the customer experience.
Financial institutions and technology companies have tinkered with trade finance for years, but progress has been slow. Despite automation advances in many areas of financial services, trade finance remains a largely paper-based, manual process. But it could be one area where blockchain technology will be successfully applied.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Temenos cuts jobs in US; eyes D+H payments business EXCLUSIVE. US layoffs cited as around 60 by some sources. Ziraat Bank London to replace legacy core banking tech EXCLUSIVE. Misys Fusionbanking moves in. Banks and UN launch sustainable […]
Banque Libano-Francaise (BLF) has gone live with the Validata ABC continuous delivery platform.
Al-Arabiya Islamic Bank (AIB), a greenfield bank in Iraq, has opted for the Islamic version of the ICS Banks core banking system from regional vendor ICS Financial Systems (ICSFS).
When payment systems come under attack, the broad retail and service economies suffer. That’s why legal concerns and information-sharing programs need to be reexamined.
In-app payments are cannibalizing more traditional payments.
With regulators opening up the payments infrastructure and consumers and business clients demanding á la carte but interoperable financial services from a variety of players, the industry and its would-be disruptors must adapt.
Accenture has unveiled a patent-pending solution for blockchain to integrate with industrial-grade security systems that support sectors including financial services. The solution creates an interface between emerging blockchain platforms and “widely used” hardware security technology. It uses Hyperledger Fabric; and Accenture worked with French firm Thales — whose hardware is used by banks to secure […]
US-based brokerage services provider Convergex has implemented Ancoa’s market surveillance platform to monitor all trading activity across its domestic and international cash equities and options businesses. It also monitors trading activity of “all lit and dark venues” including Millennium, Convergex’s proprietary applicant tracking system (ATS). The cloud-based deployment is running on Amazon Web Services (AWS), […]
PayPal has a new pal—namely its first bot that enables Slack users to move and manage their money in a conversational and casual style. The PayPal bot is available to 5 million Slack users in Australia, Canada, the U.K. and the U.S.
Maikki Frisk has been named executive director of Mobey Forum, the global industry association aimed at helping banks and other financial institutions to lead the future of digital financial services.
