FinTech


Barclays names new operations and technology chief

Barclays has appointed Shaygan Kheradpir to the new role of chief operations and technology officer.He will join the executive committee of Barclays and report directly to group chief executive Antony Jenkins.

USAA Bank enlists talking mobile banking app

US bank USAA Bank has adopted a mobile virtual assistant called Nina, developed by Nuance Communications, which lets customers interact with their bank account in novel ways that simulate a conversation with a real human.

The problem of plenty: multiple host systems in banks

Globally, there are many banks operating on multiple host systems, the result of cherry picking the best in class systems of the day to meet different needs or occasionally, merger and acquisition. Consequently, they have ended up with a legacy of disparate host or core systems, usually segmented by lines of business, such as deposits, retail loans, corporate loans, and trade finance.

Java in the cloud for financial services

Java is the most ubiquitous programming language out there, but it doesn’t work well in the cloud. One approach to overcoming the problem is featured among the Accenture-sponsored FinTech Innovation Lab London finalists.

Cross asset trading to the fore for FPL delegates

While changes to the OTC derivatives world grab the headlines, trading is moving to a cross asset world, largely driven by regulation and standardisation – and after a few years of pain, firms may find that they are better off as a result.

Study reveals customer motives for switching banks

A majority of consumers would prefer portable bank account numbers to make switching between banks easier, according to a new YouGov poll conducted by BT – and the reasons may surprise advocates of Banking 2.0.

Wincor Nixdorf predicts mobile cash withdrawal explosion

While most large banks in the UK offer a mobile app, some do not yet offer mobile cash withdrawal as a feature. That is likely to change soon, according to Ian Byrne, banking director UK and Ireland at ATM maker Wincor Nixdorf.

Rawbank revamps internet banking services with Clear2Pay

Kinshasa-based Rawbank has selected Clear2Pay’s e-Banking solution to revamp its online and customer loyalty strategy. Since its launch 10 years ago, Rawbank has become the largest bank by total deposits and total assets in the Democratic Republic of Congo, with a network of branches 30+ providing a local service to retail and corporate clients. Rawbank, […]

Early warning for trading failures

Technology companies Verdande and ITRS have developed an early warning system designed to detect trading outages and system failures before they happen.

Heightened banking cyber threats require clear focus

As the US Federal Reserve joins a growing list of financial institutions targeted by cyber criminals, reports of an organised campaign to recruit hackers for a large-scale malware attack, dubbed Project Blitzkrieg, has further highlighted the challenge facing the banking sector.

Wagner aims at m-commerce gap

Dan Wagner is pretty sure that he has an idea how the use of mobile devices will play out in the commercial world and how the relationships between banks, merchant acquirers, merchants and customers will change.

Saxo Bank revamps mobile trading app

Saxo Bank has added new features to its trading app SaxoTrader, which works on iPhone and iPad and is designed to make trading more mobile.

The changing face of payments

The Payments Council’s latest report, The Way We Pay, shows rapid changes in use of payment methods over the past decade – but cash is still in the mix.

iZettle and Santander “democratise” cheap card payments

Spanish bank Banco Santander has signed a deal with iZettle, a fledgling Swedish payments specialist that focuses on ‘social’ payments. The two companies plan to distribute mini chip-card readers to customers, so that they can accept card payments with smartphones and tablets.

Infosys claims improved “time to insight” with Big Data platform

Infosys has formally announced its BigDataEdge platform, designed to allow banks to bring together Big Data analytics onto one platform. “There have been several point solutions, but it is important to have a platform,” said Vishnu Bhat, vice president and global head for cloud at Infosys. Customers that have already deployed the platform – some […]

Inside Eurograbber: the £30m mobile banking heist

In the history of bank robberies, the £30 million stolen by the Eurograbber attack in 2012 ranks as one of the all-time biggest, globally. And when you consider that this sum was stolen from more than 30,000 accounts across 30 banks in four European countries, using malware that affected both PCs and bank customers’ mobile […]

Finovate Europe sees arrival of the Old Guard

For an event that is based around the idea of introducing new players and new concepts to the financial technology world, this year’s Finovate Europe was heavy on familiar faces and some increasingly familiar concepts.

Mobile malware headache looms for security managers

A 400% increase in malware for mobile devices masks a security scene where many of the threats are much as they have been for several years – but where the volume of attacks means that firms should think in terms of when they will be attacked rather than if they will be.

Temenos debuts LiveDesigner at Finovate Europe

Financial systems supplier Temenos made something of a splash at the Finovate Europe conference in London with the launch of LiveDesigner, a dynamic user interface designer.

PermataBank pilots BlackBerry Messenger Payments with Monitise

Indonesia-based  PermataBank has developed the first mobile payments service for the BlackBerry Messenger service.  The bank has teamed up with UK mobile banking solutions provider Monitise to roll out a commercial pilot of BBM Money in the country ahead of a full launch. BlackBerry users will have the option to access a Mobile Money account from their […]

EDM Council hires DoD veteran to lead FIBO standards work

The Enterprise Data Management Council has appointed Dennis Wisnosky to lead the implementation process for its Financial Industry Business Ontology – FIBO – suite of standards. Wisnosky is a veteran of the data management world, having previously acted as the chief technology officer and chief architect in the US Department of Defense Business Mission Area, […]

New BAML trading system aims at “disillusioned” investors

Bank of America Merrill Lynch is seeking to attract long-term investors who have become disillusioned with equity markets. Its new trading system, Instinct Natural, is a crossing network that is clearly geared towards customers that want to trade in blocks. But market participants have expressed concerns about its potential to meet the needs of long-term investors.

SEPA …

Cover Story: The SEPA end date is now just a year away. Is everybody ready? Of course not.

Mobile to dominate rise in retail bank IT spending

Further evidence that bank IT spending is growing again comes from industry analysts at Ovum, which is predicting overall growth of 3.4% among retail banks, reaching $118.6 billion in 2013, as they focus on “customer satisfaction and revenue growth”.

Market abuse highlights vulnerable European equity market

The imposition of an £8 million fine against defunct Canadian day trading firm Swift Trade earlier this week illustrates the potential for abusive strategies that distort markets – and the need for a new approach from regulators, according to Matthew Coupe, director of regulation and market structure at NICE Actimize.

Exchanges: time for a rebuild?

Technical problems at Nasdaq and BATS have reinforced the impression among many market observers that there may be something seriously wrong with equity market structure. Recent history reads like a catalogue of disaster for many of the world’s most prominent trading venues.

Western Union: Expanding on all fronts

As the global payments markets changes, Western Union has plans to change with it. Massimiliano Alvisini, regional director UK, Ireland & Nordics explains how and why.