Blog: Not Seeing a Tree for the Forest
Advocates of same-day ACH tout the increased functionality and economic benefits of speeding up payments. But a deeper look at the process reveals more of its hidden risk-mitigation benefits.
Advocates of same-day ACH tout the increased functionality and economic benefits of speeding up payments. But a deeper look at the process reveals more of its hidden risk-mitigation benefits.
ABN Amro plans to implement the Temenos WealthSuite integrated wealth management platform for its international private banking business. It will also be able to extend the use of the T24 core system to its private banking and diamond & jewellery business, giving it one platform with one operating model across multiple business lines.
The recent news that funds stored in Google Wallet now are FDIC-insured might indicate the tech giant has more changes in store for the wallet—and may even begin positioning it as a checking account alternative.
Less than a year after debuting its One Touch payment service on mobile devices, PayPal Inc. is bringing the feature to the Web.
Consulting firm A.T. Kearney has appointed two partners to its financial institutions practice, Bob Hedges and Teresa Epperson.
Management consulting firm Cornerstone Advisors has announced a series of personnel changes.
CPI Card Group announced that Barry Mosteller, director of research and development, received the Outstanding Member Service Award at the International Card Manufacturers Association 25th Anniversary Expo.
MyECheck Inc., a provider of electronic check solutions for Internet and mobile payments, has added two members to its team.
Optimal Payments, a global online payment solutions provider, was named the Best Payments Company at the EGR North America Awards ceremony recently held in San Francisco.
Mercator Advisory Group has hired Sarah Grotta, a 20-year payments and banking industry veteran, as its head of the company’s debit advisory service.
Merchant Customer Exchange (MCX), developer of the CurrentC mobile payment platform, has appointed financial services and payment industry veteran Brian V. Mooney as the company’s interim CEO.
The SHAZAM Network has added Patrick Dix to the company’s marketing team as a senior public relations manager.
When top payments and retail executives gather at All Payments Expo (APEX) Europe May 18-20, 2015 in Marbella, Spain, a key theme will be identifying and navigating new business opportunities surrounding emerging payments technologies, like mobile wallets and host card emulation (HCE).
Exchange technology vendor Cinnober has invited financial IT companies to participate in a new Financial IT Quality Assessment initiative, which is intended to generate a public, industry-wide framework for quality assessment of financial software. The initiative is an attempt to restore shaken confidence in the sector and avoid further regulatory pressure.
Merchant Customer Exchange, developer of the CurrentC mobile payment platform has appointed financial services and payment industry veteran Brian Mooney as interim chief executive. Mooney succeeds Dekkers Davidson, who is leaving MCX to pursue other opportunities.
Mitchel Lenson, former chief information officer at Deutsche bank, has become a non-executive director at CurrencyCloud
The Italian Financial Police (Guardia di Finanza), supported by Europol, arrested 10 members of a transnational criminal group yesterday. The criminals, mainly Nigerian citizens, were involved in laundering the proceeds of online fraud, amounting to more than €2.5 million.
As greater convergence between asset classes and the unification of trading desks and trading strategies across multiple asset classes becomes more common, the opportunities for sophisticated market abuse may be on the rise. That may mean that the need for surveillance is greater than ever, according to Tony Sio, head of SmartsTrade Surveillance, exchange and regulators at Nasdaq.
Best Buy Co., a founding member of MCX , surprised observers this week with news that it’s supporting Apple Pay on its Website, and adding POS support later this year. Is there a problem?
MasterCard is paying $600 million to acquire Applied Predictive Technologies, a maker of analytics software to help companies tailor investments and calibrate pricing, marketing and merchandising of products. A key asset the new company provides is its “Test & Learn” platform, which will help MasterCard’s clients make more informed decisions to stay competitive, according to […]
Citi Prepaid Services is teaming up with Enservio to offer property insurance policyholders the option of a Citi prepaid card for claims payments.
JPMorgan Chase will exit the international commercial card issuing business by the end of this year, but it will continue supporting North American card programs and investing in purchasing cards and single-use accounts, such as virtual cards, as well as other products, a spokesperson for J.P. Morgan’s commercial card business tells Paybefore.
Discover credit and debit cardholders will be able to make payments via Apple Pay beginning this fall, the companies announced today.
The Oct. 1, 2015, date for EMV compliance, when liability for counterfeit card transactions at the POS shifts to parties that haven’t adopted the chip card standard, is less than six months away and many financial institutions are finding the effort daunting, according to a study by Fiserv Inc.
Apple Inc. is spending more time on Capitol Hill meeting with lawmakers on topics that include mobile payments, new lobbying expense data suggest. During the first three months of this year, Apple’s expenses for lobbying rose 16 percent compared with the same period a year ago.
The Object Management Group has formed a new working group to study issues of documenting and controlling data across distributed cloud environments, a big inhibitor of cloud for those with strict data sovereignty requirements such as banks and financial services firms.
Stocks for all four major U.S.-based payments networks were up yesterday, following news that they’re finally gaining full access to one of the largest payments economies in the world.
Electronic payments were a driving force behind eBay’s first quarter, ended March 31, 2015, which saw the online auction site total $4.45 billion in revenue compared with $4.26 billion in the same quarter a year ago, according to the company’s latest earnings report.
Spoiler alert: A bill approved yesterday by the U.S. House of Representatives basically will be dead on arrival as President Barack Obama has vowed to veto any legislation that tries to touch the purse strings of the CFPB.
Euronext has announced that its chief executive Dominique Cerutti will step down in July to become chairman and chief executive at advanced engineering group Altran.
David Bannister, Editor at Banking Technology, interviews Jerry Norton, Head of Strategy UK Financial Services, CGI.
The Apple Watch will be Apple’s most profitable product line ever, with gross margins exceeding 60 percent, according to some observers.
Attracting millennials requires a better banking experience and Apple Watch may hold the key, according to Minneapolis-based mobile money technology provider Cachet Financial Solutions, which today announced its prepaid mobile platform supports Apple Watch.
Samsung has even larger plans for biometrics beyond including fingerprint-based authentication as part of its Samsung Pay mobile payments service.
India’s largest private bank is exploring contactless payments in a limited rollout to corporate campuses that enables employees to use a mobile prepaid account to make NFC payments at corporate canteens and shops.
Customer driven innovation is powering change in the payments industry. Real-time Payment infrastructures (RTP) – whether they are called Faster Payments, Immediate Payments or same-day clearing – are now a reality, with many countries having implemented RTP functionality, and others actively considering the imminent roll-out of RTP projects in their domestic market.
The growing use of chip cards – EMV for the cognoscenti – will spur criminals to try new directions in fraud, Al Pascual, practice leader at Javelin Strategy, told delegates at the Nacha Payments 2015 conference in New Orleans. But it will take a little time because criminals have established modus operandi and it takes them time to move from one practice to another.
Cloud services are opening up possibilities for the retail investor to create individual customised funds in a way that was previously the preserve of the super-wealthy. Coupled with regulation in the UK such as RDR, the effect has been to make new business models possible, according to Michael Newell, chief executive at InvestYourWay.
Apple Inc. is negotiating with Canadian banks to bring Apple Pay to Canada as early as November, with details about fees and security protocols at the center of discussions.
Jonathan LeBlanc, global head of developer advocacy at PayPal, says the future for mobile payments and other sensitive transactions could lay with embeddable, injectable and ingestible devices.