The securities industry is beginning to “think more deeply” about the systemic risk associated with interconnectedness, said Michael Bodson, chief executive of the Depository Trust and Clearing Corporation (DTCC).
While the fundamentals for growth in the securities industry are good, market participants face challenges in taking advantage of these fundamentals, delegates heard yesterday. Speakers mulled the question of how regulated securities markets could return to growth, given the various headwinds they face.
In an effort to reduce operational risk, improve automation and straight through processing the Johannesburg Stock Exchange (JSE) has been engaging with the investment management community and Swift to automate the bond confirmation process. A collaborative effort has resulted in the implementation of MT515 messages over Swift on behalf of the respective bond brokers.
Using Sibos as a springboard into the wider financial services community, mobile technology giant Ericsson is hoping to persuade more banks to join Peru’s La Asociación de Bancos del Perú (Asbanc). The Association connects unbanked consumers, telcos and banks together to offer a full range of services across the globe.
Financial technology company D+H is to implement distributed ledger technology from Ripple into its global payment services hub Global Payplus, in a deal the firm says will reduce costs and improve liquidity. Under the agreement, financial institutions that use Global Payplus, such as global banks, will link to a secure distributed ledger accessible with permission […]
Credit – the single biggest revenue driver among financial institutions – is set to be the next area where financial institutions will be disrupted. Innovation is very likely in this area and it will affect banks, said Udayan Goyal, co-founder and co-managing partner of Apis Partners, a private equity asset manager.
Two major European central securities depositories (CSDs) are investigating the potential of distributed ledger technology for asset settlement and reference data applications. London-based Credits is working with the CSDs on a proof of concept (POC) for the use of distributed ledger technology.
Blockchain, data analytics and mobile payments are among the technologies having the greatest impact on financial services, panelists in yesterday’s technology trends session agreed. In terms of development, as Commerzbank chief information officer Stephan Mueller described it, mobile and data analytics are “already there”, while blockchain is still in the beginning.
China is leading the world in financial technology innovation, Piyush Gupta, chief executive of DBS Group said yesterday. In a pro-China, pro-Asia plenary speech, Gupta highlighted a number of technological advances and was also positive on the economic prospects for the region. “Jamie Dimon said in his annual report Silicon Valley is coming. I tell […]
The distributed ledger is one of the hottest topics in financial services. Born out of the crypto-currency bitcoin, the blockchain concept has gone mainstream and the first area to feel the impact is likely to be payments.
A year on from Sibos 2014, several initiatives announced at that conference are making rapid progress, highlighting the increasing drive towards industry collaboration and the shift towards member-owned utilities in some key areas, including collateral management and client onboarding. They also highlight the continued rise of cloud-based connectivity, especially between banks and corporates.
Fostering innovation in financial technology has become a much more collaborative affair: global banking giants are courting small technology start-ups in the hopes of gaining a competitive edge in financial services …
Major financial market infrastructures (FMIs) and central banks have thrown their weight behind a Swift initiative to prevent further fragmentation of the ISO 20022 messaging standard as its adoption grows by signing a charter backing principles to harmonise implementations.
Cyber attacks cost little to perpetrate, but plenty to prevent. A focus on external and internal factors will help financial institutions to mitigate the threat.
T2S, Europe’s harmonised settlement platform, is live. With a series of migration waves scheduled up until full live operation in July 2017, the next few years are likely to be characterised by intense activity as market participants finalise their strategies …
Click to launch the full edition in a new window Publishing Software from YUDU
The recent surge of mobile payments services including Apple Pay, Android Pay and Samsung Pay is impressive, but what’s more significant is that payments-enabled mobile devices are on track to expand tenfold over the next five years, creating major challenges and opportunities for developers of consumer digital wallets, said Matt Barr, MasterCard’s group head, North America, emerging payments, speaking at this week’s NFC Solutions Summit in Phoenix.
There’s never a good time for a data breach, but yesterday it was reported that LoopPay, a subsidiary of Samsung Electronics Co., suffered an attack on its network.
The yeas have it. The European Parliament today has passed the second major payments regulation in 2015, with 578 votes in favor of the Revised Payment Services Directive (PSD2).
Steve Harvey will be promoting all products issued by Green Dot Bank as part of a multiyear marketing partnership, Green Dot announced today.
Two McDonald’s franchise owners have appealed a judge’s refusal to dismiss a class-action lawsuit alleging they illegally mandated employees be paid via prepaid cards.
The Payments Market Practice Group has endorsed the use of Swift messages for intraday liquidity reporting. The Swift message set for intraday liquidity reporting underpins a rulebook created by the Liquidity Implementation Task Force, an industry group of twenty five large clearing banks, custodian banks and global brokers, to support compliance with Basel Committee on Banking Supervision requirements.
The convergence of mobile payments and commerce will be the payoff for merchants investing in m-payments technology, but the payments industry has a lot of work ahead to help marry payments with the shopping experience to enrich consumers’ experiences, Phil Kumnick, senior vice president of global acquirer processing for Visa Inc., told attendees today at the NFC Solutions Summit in Phoenix.
Prior to today’s field hearing in Denver, the CFPB has announced it’s considering proposing rules that would restrict consumer financial companies from using certain types of arbitration clauses that block consumers from forming class action lawsuits to obtain compensation.
Europe’s top court has struck down a longstanding agreement that enabled U.S. companies to handle the personal data of users in the European Union without being subjected to EU privacy rules, in a decision that will significantly affect not only tech giants like Google and Facebook, but payments and financial services companies, as well.
The controversial prospect of new regulations for arbitration agreements will be front and center during a CFPB field hearing on the matter tomorrow morning in Denver.
Mobile payments’ drive into the fuel station sector continues, with Visa Inc. announcing a new NFC pilot at more than 20 Chevron stations around San Francisco and Silicon Valley.
The rise of mobile and contactless payments technology caused non-cash payment volumes to soar last year, surpassing the growth rate of GDP in all worldwide regions, according to a new report from Capgemini and the Royal Bank of Scotland.
EBA Clearing, a bank-owned provider of European payment infrastructure solutions, this week announced an RFP to build the framework for a pan-European service that could support real-time payments within the next two years.
Mobile payments development has exploded with the arrival of Apple Pay, Android Pay and Samsung Pay, but it will take “organic demand” from consumers to drive broad adoption of mobile wallets, according to payments experts speaking at PayThink last week in Las Vegas.
Employers need to “step up their gifting game” with the holiday season approaching, according to the latest research from Gyft. The First Data company released the findings to coincide with its launch of a B2B bulk gift card purchasing program, enabling businesses to conveniently reward their employees with gift cards from more than 200 retailers.
Emerging payments and fintech continue to draw investment dollars. Dutch payments processor Adyen has landed financing from a fund comprised of some of the biggest names in Silicon Valley, while alternative financing startup SoFi pulled in $1 billion in what the company is calling the biggest fintech investment to date. Meanwhile, mobile money transfer kept up its hot streak as Sequoia Capital got in on the ground floor of an India-based P2P app.
Although it may not be as large as analysts initially predicted, First Data Corp.’s IPO could be the largest public offering of 2015.
I recently received my EMV debit card from a top 5 U.S. issuer.Tell us about your experiences with EMV at the POS.
Rep. Scott Tipton (R-Colo.) and more than 40 other lawmakers are urging CFPB Director Richard Cordray to be cautious in prepaid rulemaking and to make sure the government Direct Express program is not adversely affected by the forthcoming rule.
You’d think an A-list celebrity had shown up when Apple Pay launched in the U.K. in July. Despite some speed bumps related to transit and international acceptance, prepaid providers shouldn’t ignore the mobile wallet.
Fundamental shifts in the way socially connected and digital-savvy consumers connect have altered the customer-engagement and marketing landscape forever. To succeed, retailers and consumer brands must use data-driven engagement strategies.
