Thomson Reuters is to supply reference data to SmartStream’s Securities Product Reference Data utility. As part of the agreement, SmartStream will have access to Thomson Reuters PermID, a machine-readable identifier that creates a unique reference for any data item. The SmartStream utility will provide services for instrument reference data normalisation and validation across all asset. […]
Socure, a real-time online identity verification provider, announced this week at Money20/20 in Las Vegas that financial institutions and other firms are using its Social Biometrics Platform to authenticate consumers—including those with no credit histories—in more than 175 countries.
Deutsche Bank is to shed 9,000 full-time staff and 6,000 external contractor jobs in its global technology and operations infrastructure as it sets out to “modernise its outdated and fragmented IT architecture” and improve control systems.
Derivatives exchange CME has signed a commercial agreement with Dwolla, a bank transfer platform. The arrangement will use Dwolla’s real-time architecture to support on demand payment clearing and settlement services. It is intended to streamline payment operations for CME Clearing members. “With its established customers and proven real-time systems, Dwolla’s technology provides CME Group with […]
payworks, a POS payments platform for developers, has appointed Frank Landen general manager, U.K.
CPI Card Group has been named a member of the 2015 FinTech Forward 100 list of leading technology providers in the world.
Dinsmore & Shohl LLP has announced the expansion of its banking and financial services practice to include the financial services regulatory and enforcement group (FinsReg).
Money services companies have launched The Money Services Business Association.
Alpesh Chokshi has been named head of national accounts at Visa.
Wave Crest Group has appointed Brent Almeida CEO.
At Money20/20 this week, Phoenix Marketing International released data from a new survey that suggests Apple Pay adoption is still on the rise, but its growth rate has slowed considerably in recent months.
Enacomm, a provider of intelligent customer service solutions, and enterprise and mobile voice authentication company VoiceVault have integrated technologies for the provision of Voice e-Signatures. Showcased during Money20/20, and recently implemented for a financial industry giant that manages billions of dollars in assets, the technology enables identity verification via a phone or smart device for obtaining and storing customer signatures, the companies said.
After much legal wrangling that saw Morgan Drexen, the now bankrupt debt settlement services provider, and the CFPB filing lawsuits against each other, a judge last week handed down a suspended judgment against Walter Ledda, the company’s CEO.
The Senate has approved a cybersecurity bill that would make it easier for the private sector and governmental agencies to share information about potential cyberthreats. The Cybersecurity Information Sharing Act passed yesterday by a vote of 74-21, after several failed attempts to advance the bill. The House passed a companion bill earlier this year, which means a combined bill soon will be headed for President Obama’s desk.
Eight years on from the global financial crisis, and banks continue to face a growing number of challenges. Many have ceased or significantly reduced proprietary trading, with the resulting reduction in both risk and reward. This period has also seen lower risk appetite among many investors and continuing global competition which has put pressure on profit margins,
The U.S. Department of Education released its final regulation regarding Title IV funds disbursement before the Nov. 1 deadline, which means the regulations will go into effect July 1, 2016, and apply to the 2016-2017 school year.
Chase is not the first U.S. bank to launch a mobile wallet—Capital One secured that position earlier this month. But Chase Pay has snagged a huge partner in MCX and, when launched next year, will create a major alternative network.
In the year since token technology made its debut with Apple Pay’s launch, it’s driven some significant new payments innovations, but we’ve only seen the tip of the iceberg of the technology’s full potential in enabling many future applications in “connected commerce” that will radically enrich and improve payments, according to payments industry executives.
Blackhawk Network’s partner gift cards can now be integrated into Samsung Pay, enabling cardholders to manage and spend their gift cards through the mobile wallet.
Cachet Financial Solutions has launched enhancements to its Select Mobile Money prepaid platform with features addressing security and cardholder engagement.
In a decision that effectively classifies bitcoin as a type of currency rather than a good, the European Union’s highest court has ruled that the exchange of traditional currency for bitcoin is not subject to value added sales tax.
Cashfac Technologies, a specialist market leader in bank-to-corporate cash management solutions has launched Cashfac Analytics, a real-time data analysis and reporting module that enables banks and corporates to better understand their cash movements.
Cross-border payments providers looking to drive innovation should focus on solving problems in consumer use cases and getting regulators to help improve—not impede—technology development to streamline global remittances, payments executives said during an introductory panel at Money20/20 in Las Vegas on Sun., Oct. 25.
A year after first unveiling its prototype, smart payment terminal maker Poynt Co. is preparing to go to market soon, company founder Osama Bedier tells Paybefore.
Faster payments programs are live in 18 countries and 12 more are researching and building systems—the U.S. among the dozen.
A glitch in Barclays’ computer systems prevented many of its customers from making payments or withdrawing cash from their accounts over the weekend, the U.K. banking giant said.
SIBOS Interview: Christian Westerhaus, Deutsche Bank
From the very first coins changing hands in 700 BC, through to the Bank of England pioneering the first use of a pre-printed form – or cheque – in 1717, and the emergence of credit cards in the mid 20th century, how we pay for goods and services has continued to evolve. We now face a cashless society
Despite reassurances from UniRush Chairman and CEO Rick Savard earlier this week that the company is working around the clock to address any remaining cardholder issues arising from its recent technology migration, CFPB Director Richard Cordray today offered his two cents on the matter, saying the bureau will use “all appropriate tools at our disposal to help ensure that consumers obtain the relief that they deserve.”
The fact that London’s financial services sector is also a hot spot for technology innovation is not news. In 2014, investment in financial technology firms grew by 136%. Earlier this year, George Osborne identified London’s financial technology sector as a particularly bright spot in the recovering economy – not surprising when you consider the transformational effect that information technology continues to have on the industry
Hasty unilateral moves by individual countries could undermine the ability of financial institutions and markets to benefit from new regulations and weaken efforts to improve financial stability, delegates at the BBA conference in London heard yesterday.
Banks in the UK are increasingly shifting jobs away from London, with the result that while the overall number of banking jobs fell 0.5% between 2013-14, 77 local authorities in the UK saw the number of banking jobs grow faster than in London.
The selfie boom was born in 2003 with the world’s first front-facing camera, and millennials are the first generation to grow up with technology focused on one’s self, bringing new expectations to the meaning of personalized, digital services.
Personalization has become more important than ever to consumers, as they shun anonymous mass advertising in favor of individual reviews and one-to-one brand engagement. But what if instead of helping big brands to adapt, you were to lead the change? This is where competitive advantage comes to life.
Clearly there’s an issue with how banks manage cross-border money transfers and payments. The process is inefficient, costly and archaic. That being said, I can understand why it is the way it is—building a truly global platform that enables FedEx-like payment transfers is no easy feat.
LG Electronics may be next to join the growing parade of mobile payments providers, and the biggest clue is the South Korean handset maker’s recent move to file a U.S. trademark application for “LG Pay.”
Visa Inc. is giving small and midsize credit and debit card issuers a new tool to optimize their marketing efforts.
The National Retail Federation’s annual holiday survey puts gift cards on top as the most requested holiday gift for the ninth consecutive year. Plus, consumers share plans for their most mobile holiday shopping season yet.
Several new entries appear in the shortlist of vendors whose products and services have been voted for by Banking Technology readers – and several previous winners re-appear under new ownership following acquisitions.
MasterCard is bolstering security on several fronts, launching tokenization for MasterPass and a new tool to help banks and processors reduce the threat of cyberattacks.
