Worldwide

Deutsche Börse connects commodities traders with new platform

Deutsche Börse has signed a trio of commodities trading entities to use its new M7 trading platform, developed as part of a complete renewal of its trading infrastructure. Singapore-based regulated futures exchange Cleartrade Exchange, London-based Freight Investor Services Ltd., a broker of freight and commodity derivatives, and Norexeco ASA, a commodities exchange for pulp and paper based in Norway, will start to use the M7 trading platform in the next few months.

Bringing it all together

From the early days of internet distribution, New York-based Alacra has been aggregating reference data. Chief executive Steve Goldstein told David Bannister the company’s story

House Passes Bipartisan Bill Curbing CFPB Budget; Veto Expected

House Passes Bipartisan Bill Curbing CFPB Budget; Veto Expected

he House of Representatives on Feb. 4 passed bipartisan legislation sponsored by Rep. Virginia Foxx (R-N.C.) that she says would require greater transparency in government and would cap the CFPB budget for FY2016 at $550 million, $36 million below its expected funding.

Top African payments and banking experts to convene in Johannesburg

Top African payments and banking experts to convene in Johannesburg

Top African payments and banking experts to convene in Johannesburg In the face of constant payment changes, Cards and Payments Africa is the place to drive business growth and keep up with the latest trends. Join the traditional players, the emerging disruptors and risk-taking visionaries of payments as you check-in to our destination of innovation […]

Gov. Christie Signs ZIP Code Repeal Bill (Feb. 6, 2015)

N.J. Governor Chris Christie (R) signed into law a bill that eliminates the collection of consumer ZIP code information for gift cards purchased at the POS, putting an end to a protracted legal battle over unclaimed property rules in the state.

Capgemini and First Data forge payments development alliance

Technology consultancy Capgemini has formed a global alliance with First Data to develop payment software based on First Data’s VisionPlus and AccessPlus solutions. The pair say that they expect to begin delivering new solutions in the second quarter of this year.

Blog: Tackling Fraud with Data

Merchants appear to be more apt and capable of leveraging their own data today than the preceding several years. And, they are finding that using this data is more effective in combating fraud than traditional validation services.

Green Dot Gets Serious about Credit (Feb. 4, 2015)

Green Dot Gets Serious about Credit (Feb. 4, 2015)

Green Dot is considering expanding the financial services it provides to include what Chairman and CEO Steve Streit describes as “modern credit,” with an eye toward using transactional data for underwriting.

Branch Transformation: Automated Coin Deposits

Paul Clay, National Account Manager for Banking and Security at Cummins Allison, talks about the importance of self-service coin solutions as part of a branch transformation programme.

Value of cryptocurrency transactions ‘to half this year’

The value of all cryptocurrency transactions will more than half this year, falling from $71 billion in 2014 to just over $30 billion. The decline was attributable to the combined impact of exchange collapses, Bitcoin theft and regulatory concerns.

SmartStream acquires Algo Collateral business from IBM

SmartStream Technologies has acquired the assets of IBM’s Algorithmics Collateral solution and will add it to its existing solutions for the automation of the end-to-end post trade lifecycle, rebranding it as TLM Collateral Management. The system provides collateral lifecycle automation for buy- and sell-side institutions, custodians and asset servicers, large and small.

Visa Exec: EMV Migration on ‘Critical Path’ (Feb. 3, 2015)

Visa Exec: EMV Migration on ‘Critical Path’ (Feb. 3, 2015)

The U.S. payments card industry is on a “critical path” to EMV card migration over the next eight months but several challenges remain, Kimberly Lawrence, Visa’s senior vice president, global corporate initiatives, said today during the kickoff presentation at the Smart Card Alliance’s Payments Summit in Salt Lake City.

NYAG Widens Access to Bank Accounts, But Still Plenty of Room for Prepaid (Feb. 3, 2015)

NYAG Widens Access to Bank Accounts, But Still Plenty of Room for Prepaid (Feb. 3, 2015)

New York Attorney General Eric Schneiderman wants to increase access to traditional banking services by getting banks to change their account-opening criteria. But broader access to checking and savings accounts doesn’t mean consumers won’t continue to seek out alternatives, including prepaid cards, which may have more features and fewer fees, according to industry observers.

Thaw in investment freeze drives tech hires

Technology hiring is on the up, with employment within the industry forecast set to grow at 2.19% this year, nearly five times faster than the UK average, according to the 2015 Salary Guide from specialist recruiter Robert Half.

Green Dot: GoBank Deposits, Spending Surged in Q4 (Feb. 2, 2015)

Green Dot: GoBank Deposits, Spending Surged in Q4 (Feb. 2, 2015)

Bolstered by a nationwide rollout in U.S. Walmart stores, Green Dot Corp.’s GoBank mobile bank account showed strong gains during Q4 2014, with monthly deposits up 600 percent and total debit card spend growing nearly tenfold, according to Green Dot’s latest earnings report.

Google Extends P2P to U.K. via Google Wallet  (Feb. 2, 2015)

Google Extends P2P to U.K. via Google Wallet  (Feb. 2, 2015)

Google this month extended its Gmail-based money transfer feature to the U.K., marking the search giant’s first P2P foray outside the U.S. If successful, the move could help Google expand awareness of Google Wallet internationally before Apple Pay makes its expected move into the U.K. and other global markets, observers say. Apple Inc. CEO Tim […]

Julius Baer begins core renovation

Swiss private banking group Julius Baer has chosen Temenos for a major core banking system replacement project intended to progressively modernise its front and back office systems globally.

Banking innovation: a marathon, not a sprint

Britain’s banks have reliably serviced the banking needs of millions of customers for more than a hundred years; providing a safe place to store hard-earned cash, mortgages to buy dream homes, and great interest rates to accumulate savings

A winning mobile strategy

The mobile revolution is taking the financial services industry by storm. In less than five years it is predicted that the number of mobile phone owners using their device for banking purposes will double to over 1.75 billion. Banks cannot ignore the implications of what this means to their future business models. A mobile-first approach will be essential in leading the way.

CFPB Considers Comment Period Extension for Prepaid, but More Time Seems Unlikely 

In a Jan. 27 letter to U.S. Rep. Sean P. Duffy (R-Wis.) and several other members of Congress, CFPB Director Richard Cordray said the agency would give the lawmakers’ request for a 60-day extension to the comment period for its prepaid NPRM “serious consideration.” But the rest of the letter suggests that the agency feels 130 days since the proposal went up on its Website will be adequate for stakeholders to comment.

FDIC Backs off Operation Choke Point (Jan. 29, 2015)

FDIC Backs off Operation Choke Point (Jan. 29, 2015)

Critics of the DOJ’s controversial Operation Choke Point, which encourages financial institutions to scrutinize clients that operate certain types of businesses, such as payday lenders and firearms sales, may welcome the latest news from the FDIC.

Blog: Hot Topics at ‘The Big Show’ 2015

Coming off a strong holiday season, retailers have their sights set on data security and the shopping experience. First Data’s Jerry McNerney talks about how the payments industry can help.

Blog: Building the Next Generation of Payroll Cards  

In 2014, payroll cards took a beating in the general press, fueling the fire in some state legislatures to impose onerous restrictions and potentially category-killer requirements. Now, CFSI, working in consultation with industry participants and consumer advocates, has created best practices for what it calls “high-quality payroll card products” that promote choice, safety, affordability, transparency and convenience (and discourage outliers).

People on the Move: Ron Hynes, Mozido

Mozido, a cloud platform mobile payments and retail engagement solutions provider, this week announced it has named Ron Hynes, as president global markets.

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