PULLING TOGETHER Banks are losing corporate business to alternative providers. What can they do to fight back? PREVIEW: SINGAPORE SLINGS AND ARROWS Innotribe takes centre stage at Sibos 2015 – what’s left for the traditionalists? SURVEY: LEGACY REPLACEMENT Multiple overlapping and redundant systems are holding back modernisation ROUNDTABLE: THE INTERNATIONALISATION OF IMMEDIATE PAYMENTS Call them […]
For those who attend Sibos every year, it can seem as though the conference never actually ends – it simply adjourns until the following year. This year, the rise of distributed ledgers and the role of non-bank players in financial services look set to top the agenda – but there will also be a strong focus on innovation, women in finance and millennials.
The majority of businesses do not have cyber security insurance, with many not even aware such protection exists – and even those that do have insurance in place may find themselves at a loss if they don’t have the correct cover. The solution may be to mandate more data sharing and raise public awareness, according to speakers at a roundtable organised by software security company Kaspersky Lab.
With several companies vying to acquire Worldpay Group Ltd., Advent International Corp. and Bain Capital, owners of the U.K.-based payment processor, have decided to proceed with their planned IPO of the company with the hopes of raising $1.4 billion.
Apple Inc. is making good on its plan to bring Apple Pay to China, with news that it’s registered a subsidiary, Apple Technology Service (Shanghai) Ltd. in Shanghai’s free-trade zone, with permission to operate Apple Pay, but it’s already late to the m-payments party in China, say observers.
Stratos Inc. is kicking off a new partnership program with Eastern Bank, making it the first financial institution to distribute the company’s Bluetooth Connected Card, which combines multiple payment, loyalty, membership and gift cards into one.
While IT departments fret about BYOD and Shadow IT, a new security beast lurks on the horizon–the shadow internet of Things. A swarm of consumer devices are all connecting to the internet and beaconing out data in different forms. Because they don’t look like computers, they aren’t treated like computers, and IT departments are often not managing them to ensure that they are secure.
Royal Bank of Canada this week introduced a new—and still somewhat rare—approach to connecting its customers to its RBC Wallet mobile payments service via host card emulation (HCE), so it works with any NFC-based Android handset, regardless of its brand or the user’s wireless carrier.
Starting in January 2016, Sprint’s 57 million customers will have access to a revamped digital wallet, Sprint Money Express, through a joint initiative between the telecom and Urban FT, a provider of white-label digital banking apps.
Saxo Bank is to allow access to its multi-asset trading and back office infrastructure through a new open API that will allow developers and partners to integrate Saxo’s trading functionality into their own applications and systems.
Nine major global investment banks have formed a partnership to explore the potential of distributed ledger technology in financial markets. The project, led by financial technology company R3, aims to create early standards for the emerging technology that will make it easier and more efficient as it grows.
EMVCo, the EMV technical body collectively owned by American Express, Discover, JCB, MasterCard, UnionPay and Visa, has appointed Bastien Latgé to the newly created role of director of technology.
eNett International, a provider of dedicated B2B travel payment solutions, has appointed Carl-Olav Scheible chief commercial officer.
Fifth Third Bancorp has named Timothy Spence executive vice president and chief strategy officer.
FLEETCOR Technologies Inc., a global provider of fuel card and workforce payment products to businesses, has appointed two business unit executives.
Mobile commerce solutions provider Mobetize Corp. has appointed Donald Duberstein independent director and chairman of the Remuneration Committee.
National Gift Card Corp., a marketer and supplier of gift cards for use in loyalty, incentive and rewards programs, has appointed Bill St. Clair senior vice president of operations. NGC Europe also made two recent appointments to its management team: Christine Rodriguez and Neil Pagnam.
The Sunday Times Hiscox Tech Track 100, which ranks the U.K.’s private technology, media and telecom companies with the fastest-growing sales over three years, has ranked Prepaid Financial Services, a global payment services provider and fintech company, No. 22.
Online money transfer service WorldRemit has announced the hiring of Gabriella Poczo as chief technology officer.
Those enabling payments for online gaming Websites have a new, rather large competitor.
Fiserv Inc. will be enabling consumers to access their cash without using a payment card at participating ATMs.
San Francisco-based Stripe is hoping to accelerate the spread of buy buttons, this week unveiling Relay, a service enabling consumers to make a purchase from within a mobile app or a social media site like Twitter, without bouncing to a merchant’s e-commerce site.
Smartphones are becoming more integral to the shopping experience in the U.K., where consumers are increasingly using mobile devices to make in-store and online purchases and to research products, a new report found.
UKGCVA’s reply to Ireland’s proposal to ban expiration dates on gift cards and vouchers.
Visa set a deadline for its debit card issuers to request extra payment on top of the monies the issuers will receive in accordance with an earlier settlement reached with Target related to the 2013 breach.
Litigation involves a $7.25 billion settlement deal with retailers, after it was disclosed that a defense attorney shared information with an attorney for the plaintiffs.
Abercrombie & Fitch and RadioShack class action decisions involving closed-loop gift cards warrant attention.
Saxo Payments isn’t a bank, and the chief executive isn’t a banker. So how does he think he’s that’s going to help shake up international payments?
The London Stock Exchange has sold its Proquote market data and retail trading services business to Australian financial technology specialist Iress, which is expanding its capital markets and funds operations in the UK.
A bank cannot hope to compete in today’s retail banking market without a ‘digital executive team’ and banks need to reinvent their upper echelons’ if this is currently lacking, as Atom Bank and Apple Pay are merely the start of an avalanche of a new era of digital disrupters, looking to steal the lunch from traditional high street banks.
When Discover Financial Services goes live this week with Apple Pay, customers who’ve been waiting to access the m-payments service with a Discover card will get a chance to reap one of the richest rewards programs available for Apple Pay users.
Startups in the San Francisco Bay Area brought in 71 percent more investment capital than those in other areas of the U.S., according to new data from FinLab. Meanwhile, London is hosting 10 of Australia’s most promising fintech startups, and Visa Inc. looks to add 2,000 new technology professionals to boost its digital financial services business area.
Mozido has lofty expectations for TradeEase—what the company says is the first-ever platform enabling cross-border e-commerce payments between China and Russia.
Pascal Augé, head of global transaction and payment services, Société Générale speaks to Daily News at Sibos about the growing importance of transaction banking for corporate customers
Last year, the ISO 20022 standard celebrated its 10th birthday, and consequently it may seem a bit odd to say that after more than a decade since its inception, the financial community really should start taking assertive action. Since 2004, the ISO 20022 standard has, thankfully, witnessed substantial adoption but it has been what could be termed an “uncontrolled adoption”. So why is action so critical now?
Central banks need to play a greater role in the provision of infrastructure for low value payments and existing models revised to balance risk and rewards, according to new research published by the Swift Institute.
In honor of the celebration, NBPCA released some statistics about payroll cards, including how much businesses and employees save using them.
The mobile payments race just kicked into high gear, with Google Inc. today announcing the immediate launch of Android Pay, joining Apple Pay with a little more than two weeks to go before Samsung Pay rolls out Sept. 28 in the U.S.
Digital wallet providers have an easier route to issuer integration with the new MasterCard Digital Enablement Express service, but one analyst suggests it may be more difficult for providers—outside of Apple Pay—to collect issuer fees.
In another indication of blockchain technology’s potential for payments, a group of major industry players have made a $30 million equity investment in blockchain startup Chain Inc.
