Managing incentive compensation can be a challenge. Typical management systems are done manually – taking too much time and effort. They also fail to provide precise tracking for compensation-related regulations. This e-magazine introduces IBM Incentive Compensation Management, a unified solution that integrates data, calculations, workflow management and reporting. The solution automates complex tasks – reducing […]
Look back at some of the major digital bank initiatives across the globe in 2016, with Banking Technology’s top ten.
Look back at some of the most interesting and thought-provoking opinion pieces on all matters fintech published by Banking Technology in 2016.
Look back at some of the major core banking software projects in 2016, with Banking Technology’s top ten.
It felt like there was a blockchain story every day in 2016, but we look back at some of the bigger stories with Banking Technology’s top ten! Microsoft and AMIS launch Asia’s first blockchain consortium Microsoft says it is also in “collaboration” with banks such as Ubon Financial, Cathay Financial Holdings and MegaBank to further […]
Look back at some of the major fintech events in 2016, with Banking Technology’s top ten! Sibos 2016: markets still in “Dante’s circles of hell” It’s the big one. And this is just one snippet from our extensive coverage of Sibos in Geneva. We also produced videos, published Daily News at Sibos, had fun with […]
A very Merry Christmas and Happy New Year from everyone at Banking Technology! May your 2017 be peaceful, fruitful, positive and kind.
From a technology perspective, the family home has decided to rush headlong into the 21st century. When our home was built we thought we were being extremely progressive in having a Panasonic “4 lines, 10 extensions, PBX” installed with separate lines for my wife and myself and then a line for business and yes, one dedicated line for the fax machine. Cool… but fast forward a decade and a half and with the home up for sale, we were politely advised to take out all those handsets and close the door on the PBX.
Look back at some of the major digital channels projects in 2016, with Banking Technology’s top ten.
Factset, a US-based provider of financial information and analytics software to the investment management industry, has completed two acquisitions. These are Vermilion Software, a client reporting and communications software specialist and Cymba Technologies, which focuses on asset and investment management software and solutions.
A proposed plan by the European Commission (EC) to combat terrorism financing would require customs declarations for prepaid cards sent in postal parcels or freight shipments into or out of the EU. Currently, cards sent or shipped across EU borders are not covered by the standard customs declaration requirement. Coming in the wake of a truck attack in Berlin that left 12 people dead and dozens wounded, the proposal is part of the EC’s action plan against terrorist financing, an initiative unveiled in February 2016, designed to help EU nations cut off the supply of funding for terrorist activity.
Growth brings the fierce attention of competitors, a lesson that India-based online commerce platform Paytm is learning. U.S.-based PayPal reportedly has filed a copyright suit against the firm, alleging that the blue color scheme of its logo, along with the fact that “pay” is the first word of the company’s name, is deceptive, according to eMarketer.
Varo Money announced it’s developing a chat bot for its mobile app. The San Francisco-based mobile-only banking startup, which is offering private-label banking services via The Bancorp, expects to launch “Val” early next year. “She” is part of a steady stream of chat bots that have been announced in 2016 by banks, merchants, tech companies and handset makers to improve customer loyalty, reduce costs and boost revenue, among other benefits.
Anders la Cour, co-founder and CEO of cross-border payments specialist Saxo Payments, has been appointed to the Emerging Payments Association (EPA) advisory board for 2017.
The general assembly of the European Payments Council (EPC), a representative body of European payment service providers, has re-elected Javier Santamaría as its chairman, effective immediately and running for the next two years.
John Incandela has been named president and CEO for the U.S. operations of Pango, a provider of mobile payment services for parking, transit, ride-hailing and other urban services.
Cross-border payments network and banking consortium PayCommerce has opened new offices in Dubai and Ontario, Canada.
Posera Ltd., a provider of software solutions for the hospitality industry, has appointed Tom McCole to the company’s board of directors, effective Jan. 1, 2017.
Payments and fintech recruiting firm R&P Group has promoted Ian Horsted to the role of senior vice president, recruiting, sales practice executive.
TSYS has announced several leadership changes and a restructuring of its business divisions.
Ruth Prior, currently deputy CFO at global payment processor and technology provider Worldpay, will become the company’s first chief operating officer.
State Street is concluding its testing of a blockchain system from securities lending and is pondering its roll-out in 2017.
Our pick of banking tech and fintech case studies – published by Banking Technology in 2016.
In the face of approximately 67 million unbanked or underbanked U.S. adults, and 90 percent of households saving less than 2 percent of their disposable incomes, according to the Center for Financial Services Innovation and the Fed, respectively, Walmart and Green Dot are helping prepaid cardholders shore up their finances through a prize-based savings program.
Over the next two years, closed-loop prepaid loads are on the way up, store returns on the way down—and most other prepaid numbers could go either way depending on a host of factors. Those were among the main takeaways from Mercator Advisory Group’s 13th Annual U.S. Prepaid Cards Market Forecasts, 2016–2019. The report examines load, growth and market dynamics in the U.S. across all prepaid segments.
Tapping into two expanding markets, BNP Paribas said Dec. 21 it had completed its first cross-border B2B payments between corporate clients using blockchain, the technology that underlies bitcoin transactions. The move comes as other major financial institutions seek to invest in blockchain and there’s a rush of providers trying to displace checks in the corporate payments space, particularly for cross-border payments.
Mobile banking app Varo Money is brining to market a chatbot and “money coach”, Val. Val is powered by Kasisto’s KAI Banking bot and “delivers insights into spending, savings, borrowing and helps people set goals as well as offer updates and encouragement about their progress”.
BNP Paribas has processed “several live payments” using blockchain technology for two of its corporate clients, Amcor and Panini Group.
With so many payment options available, it’s vital for merchants to have reliable technology and networks in place to ensure that transactions run properly and declines are kept to a minimum. But what are the most important steps for increasing the quality of acceptance across card types and brands? Discover Global Network offers some answers.
After a year that saw activist stockholders call for more accountability and a shakeup in company leadership, Green Dot Corp. has unveiled a plan to make each member of its board of directors subject to annual re-election. The initiative calls for a change to the company’s certificate of incorporation to declassify all board seats. Currently, the board consists of three classes, with members of each class elected for three-year terms on a staggered basis, such that the terms of each class expire in successive years, according to the company.
Wirecard is using prepaid as a bridge to online payments for its boon mobile app.
Fraud and fintech partnerships; big data and blockchain—all are among the hottest topics in payments—and will continue to be major forces shaping the industry in 2017, according to a new report from Vantiv Inc. The first installment of the payment processor and technology solutions provider’s Trends to Watch in 2017—focused on financial institutions—tabbed those four areas as especially important points of emphasis for banks in the New Year.
While digital payments providers have enjoyed significant boosts in transaction volume—some as much as triple-digits—since the government banned two popular currency notes, the uptick in digital payments also has led to online traffic jams and fraud, according to several news outlets.
Because you’ve all been so good this year, here’s a fintech funding round-up to save you time… so you can eat and drink more over Christmas. Goldman Sachs, JP Morgan Chase and a group of other financial institutions including ICAP’s venture arm are finalising an investment in blockchain start-up Axoni, according to Reuters. New York-based […]
Since the Market Abuse Regulation (MAR) came into effect in July 2016, our ongoing conversations with banking organisations indicate that whilst the regulation is aimed at improving market integrity, it has also exposed inefficiencies within some banking monitoring systems.
Building emotional bonds with customers is a strategic imperative, and why the change programmes currently being undertaken at banks need to recognise the hidden lessons of Uber.
Mastercard and Visa have joined forces in a bid to help fast-track the adoption of tokenization for mobile and online payments—and, eventually, payments via connected devices within the Internet of Things (IoT). A new partnership between the rival networks enables tokenized Mastercard payment credentials to be provisioned into Visa Checkout, and, in turn, tokenized Visa credentials to be provisioned into Masterpass.
MetaBank has finalised its purchase of a tax refund loan company.
A plethora of mobile wallets and payment apps are expected to flood the market in the next two years, and the sheer number of choices are likely to “confuse” many consumers, who ultimately might look to their financial institutions to be their mobile wallet provider, according to a recent report by Javelin Strategy & Research.
Token, a Silicon Valley-based crypto-payment software provider, and digital bank Fidor have signed a memorandum of understanding (MoU) for digital payments. The MoU will see Token’s software made available within Fidor OS, its digital banking and open community middleware solution. Steve Kirsch, founder and CEO of Token, says its software enables banks to “call the […]
