CFPB Consumer Finance Research Conference May 7-8 (April 20, 2015)
The CFPB is holding a conference next month that it says will focus on high-quality consumer finance research, with academic and government experts presenting data.
Worldwide
Viewpoint: Canada’s Regulation of Mobile Payments: Merchant Protection at the Cost of Innovation?
Some of the most significant changes to Canada’s Code of Conduct for the Credit and Debit Card Industry affect the rights of merchants regarding mobile and contactless payments. Will the updated Code have the unintended consequence of disincenting investment in and adoption of innovative payment technologies in Canada?
Interview: Patrick Griffin, EVP Business Development, Ripple Labs
At the Recent Payments International conference in London, Patrick Griffin, EVP Business Development at RippleLabs talked to Banking Technology editor David Bannister about the technology and puts paid to some misconceptions about the Ripple protocol.
Volante lays Foundation for faster payment systems integration
Financial messaging and data integration specialist Volante Technologies has taken a step into the world of packaged products with the launch of VolPay Foundation, a development platform “designed to ease the challenges of payment integration and payment processing projects”.
Out with the old in New Orleans?
Innovation in a mobile real-time world will be to the fore in the discussions as the US payments industry gathers at Nacha Payments 2015 to consider the opportunities and challenges against a background of rapid technological and regulatory change. What can those embarking on project learn from those who have already been there?
The digital wealth opportunity
With the recent pension reforms opening up a plethora of investment options, financial services providers need to capitalise on the opportunity to create a value-led digital customer proposition
Business intelligence and analytics for superior surveillance
Financial institutions face an unprecedented array of threats including traditional fraud, ATM skimming and cash harvesting, as well as more sophisticated cyber threats and online hacking. This online webinar will explore how video-driven analytics can be used to provide insights into business vulnerabilities and to protect against fraud and other types of threat.
Senate’s Tax Refund Fraud Bill Takes Aim at Prepaid (April 16, 2015)
Several U.S. senators used income tax season to promote new legislation that takes aim at program providers that enable consumers to receive their tax refunds on prepaid cards.
InstaMed Integrates Apple Pay for Consumer Health Care Payments (April 16, 2015)
Apple Pay is expanding its reach to the health care sector, where InstaMed has integrated the mobile payments service as an option for consumers making payments to hospitals, clinics, doctors’ offices and insurance companies.
Discover Adds ‘On/Off’ Switch to its Cards (April 16, 2015)
Discover cardholders who have temporarily misplaced their cards or suspect fraudulent activity on their accounts now can shut off their credit cards with Discover’s Freeze It security feature.
World Bank Reports 20 Percent Drop in Unbanked Since 2011 (April 16, 2015)
The world’s unbanked population plummeted by 20 percent between 2011 and 2014, as 700 million adults became account holders, according to a new report from the World Bank.
Target Reaches Data Breach Deal with MasterCard (April 16, 2015)
Target will pay $19 million to MasterCard issuers to cover costs stemming from the retail giant’s 2013 data breach.
CounterpartyLink adds hierarchy profiles to legal identity service
CounterpartyLink, a provider of legal entity intelligence for buy- and sell-side institutions and law enforcement agencies, has announced CPL Hierarchy Profile, a new product designed to provide a single view of the client across complex client groups.
NCR offers cloud control for Android-based ATMs
NCR has announced a radical new approach to ATM network deployment, with cloud-based enterprise application allowing banks to control and manage thin-client devices running a locked-down version of the Android operating system.
Study shows 60% of banks’ digital assets on wrong side of firewalls
Security specialist RiskIQ says the growth in digital business is producing an increasing threat to banks across the world, with the largest banks owning an average of 7,500 public facing digital assets – 60% of which are outside the company firewall.
Beware of cyber-complacency warns ex-MI5 director
A former head of the UK Security Service better known as MI5 says banks need to beware the danger of state agencies and others stealing or destroying confidential information.
Report: American Express, Jawbone to Launch NFC Fitness Band (April 15, 2015)
American Express Co. is getting in on the expanding niche of wearable technology.
Canada’s Code of Conduct Expands to Include Mobile (April 15, 2015)
Canada’s Financial Consumer Agency this week has released amendments to Canada’s code of conduct for credit and debit card transactions that extend to mobile payments.
Bento Goes Outside the Box with SMB Prepaid Solution (April 15, 2015)
A new startup headed by longtime payments veteran Farhan Ahmad is seeing big opportunity in small businesses.
People on the Move: Stephen Grice, i2c Inc.
i2c Inc., a provider of payment processing and emerging commerce solutions, announced that Stephen Grice has joined the company as general manager, Europe.
People on the Move: Neil Erlick, Fantasy Sports Trade Association Board
Optimal Payments Plc, an online payment solutions provider, announced that Neil Erlick, executive vice president of business development, has been elected to serve on the board of directors of the Fantasy Sports Trade Association.
People on the Move: Emily Baum, Declan Byrne and Dr. Hartwig Gerhartinger, PIF Board
Prepaid International Forum, the not-for-profit body representing the prepaid industry, has elected three new members to serve on the board.
People on the Move: Kerry Penfold, Raphaels Bank Board
Raphaels Bank has appointed Kerry Penfold to its board of directors.
People on the Move: Daniel Issen, YapStone
YapStone, a provider of Web and mobile payment technology solutions for large vertical markets and online marketplaces, has announced the addition of Daniel Issen as chief technology officer.
Buy-side builds confidence as home-brew smart order routers gain ground
Buy-side firms stand to gain from developing their own smart order routers and carrying out their own capital markets research. But the growing independence of the buy-side must still be weighed against sell-side advantages of scale, according to speakers at the Trade Tech conference in Paris on Tuesday.
i2c Gets Face-to-Face in Europe with U.K. Office
i2c Inc. is bolstering its European business by putting “people on the ground” and opening a London office.
5 Signs Microsoft Will Launch Payments Service (April 14, 2015)
More signs point to the fact that Microsoft is preparing to brand its own payments service, but the tech giant’s approach could be much different than that of mobile wallet rivals Apple Pay, Samsung Pay and Google Inc.’s Android Pay, some observers suggest.
Blackhawk GoWallet Makes Checking Balances, Redeeming Gift Cards a Snap (April 14, 2015)
With Blackhawk Network’s GoWallet mobile app, consumers now are able to determine gift card balances by taking photos of their cards.
Ingo’s Hot Streak Continues with $13.5 Million Funding Round (April 14, 2015)
Fresh off a major acquisition and a 2015 Paybefore Award for Breakout Company of the Year, Ingo Money’s big year continued with this week’s closing of a $13.5 million funding round. Baltimore-based private equity firm Camden Partners co-led the round with venture capital firm MissionOG.
Paybefore Unveils European Awards Winners
Paybefore announces the winners in its fourth annual Paybefore Awards Europe competition, honoring the best programs and companies operating in prepaid and emerging payments across Europe. Winners represent companies entering the European market from the U.S., Asia, South Africa, Germany, Gibraltar, Italy and the U.K.
PayPal and eBay Forge Agreement to Go Forth as Friendly Competitors after Split (April 13, 2015)
PayPal will expand its competitive reach when it flies solo after its planned spinoff from parent eBay later this year. The deal guarantees certain protections and continuity for both companies, but it also underscores the heightened stakes in the e-commerce and digital payments industries.
Amex ‘Facing’ the Future of M-Payments with Biometrics Plan (April 13, 2015)
Biometrics continue to make inroads into payments, with American Express testing new technology that uses facial recognition to authenticate mobile transactions.
The Time is ‘Now’ for Funds Transfers Say BBVA Compass, Dwolla (April 13, 2015)
The momentum around faster payments continues to build with BBVA Compass becoming the largest financial institution to use the Dwolla platform, which eliminates the customary two- to five-day wait associated with ACH transfers.
The treasurer: creating price tension on the derivatives front
A banking book requires a number of careful deliberations on the use of derivatives. In particular, the introduction of EMIR, Dodd-Frank and their brethren across the world has a number of important consequences for this market.
IG launches trading app for Apple Watch
IG Group has launched a trading app for the Apple Watch, which it says is one of the first of its kind. The Apple Watch is due to be released on 24 April.
S&P Capital IQ launches Salesforce app
Financial data and analytics specialist S&P Capital IQ has launched a new app on the Salesforce AppExchange designed to enable sales, marketing and other professionals to rapidly identify, research and vet potential new business clients and partners.
Blog: There Aren’t Enough Startups
Forget the hand-wringing over a possible crash in Silicon Valley from a tech startup bubble-burst. What we need are more startups to feed deep-pocketed corporations starved for innovation.
How traditional high street banks must harness the power of big data to remain competitive
At the core of the challenge for banks is understanding their customer better and using the information effectively across the business.
Blog: Nothing More Social
Looking ahead for Facebook, the particular opportunities with cross-border workers’ remittances are enormous … Who’s more interested in pictures of loved ones than the remote worker who is supporting her family? Who’s more interested in ‘status updates’?”
N.Y. AG’s Problematic Payroll Card Act Gets Sponsors from Both Sides of Aisle (April 8, 2015)
Both political parties again are backing problematic payroll card legislation from New York Attorney General Eric T. Schneiderman that could squeeze margins and force some providers to pull programs from the state.
