Operational risk: Hell is other people
As the focus on operational risk increases, Nicholas Pratt discovers that the greatest threats to a bank’s security lie outside of its four walls
PayTech
Innovation: there is a better way
Innovation in financial services may not generate products quite so world-changing as the inventions of Edison, but the principle of finding better ways to do something does inform most developments.
Corporate actions: standard and deliver
The complexity of corporate actions has stymied automation efforts for more than a decade. But there could be light at the end of the tunnel …
PreCash Sees Bill Pay as Acquisition Gateway (September 2013)
Houston-based provider launches bill pay/mobile app combo as ‘ideal hook’ to establish customer relationship that expands to other financial services, including prepaid.
Talking Heads: this year’s model
How is the global custody and asset servicing model changing? Will consolidation occur? What do clients want? Daily News at Sibos finds out
Talking Heads: the financial crisis
Crawling from the wreckage – Daily News at Sibos asks whether the industry will experience another Lehman Brothers-type crisis. Have market participants learned their lesson?
Accuity rolls out flexible database tool
Two years on from the merger of Accuity and Bankers Almanac, the company has combined its counterparty and payment databases into a new tool that allows users to integrate them into their own workflows.
Retail banking: underwriting the revolution
New technologies are transforming the consumer experience in retailing and in banking. For banks to remain relevant, they need to work with innovators, writes Paul Skeldon
Deutsche Bank signs wealth of global deals
Deutsche Bank has signed deals with Dubai Islamic Bank, Abu Dhabi Commercial Bank, Agricultural Bank of China and China Merchant Bank to use its products and services in Europe, the Middle East and Asia.
Securities settlement: the guessing game
With implementation of Europe’s Target2-Securities beginning in 2015, financial institutions are still defining their strategies and business models. Some questions remain to be answered.
Barclays builds on Pingit head start
Barclays is making a determined effort to capitalise on the two-year lead it has built up with its Pingit mobile payments application with two new applications intended to allow retailers to integrate mobile payments into their services.
Standard Chartered backs mobile wallets
Standard Chartered has launched a mobile wallet service targeted at corporate clients in Kenya. The service has been developed in partnership with Safaricom, which operates the mobile money transfer service M-Pesa. The bank hopes the deal will herald the start of a major drive to open up financial inclusion in emerging markets.
New Age of Bank-Technology Partnerships (September 2013)
The partnerships banks are forming with financial technology suppliers today look very different than routine client-vendor relationships of past decades, and one of the most interesting aspects of the trend is how both sides are transforming each other.
MasterCard Research: Industry Must Bridge Education Gap to Serve Financially Excluded in Europe (Sept. 17, 2013)
Sept. 17, 2013 The prepaid industry has a big opportunity in reaching the financially excluded and underserved across Europe, but it also has a lot of work to do to bridge the consumer education gap, according to new research from MasterCard Worldwide. The payment network today unveiled the “Road to Inclusion,” a report that shows while […]
Visa, Docomo Prep Virtual Prepaid Card in Japan (Sept. 17, 2013)
Visa’s Japanese subsidiary Visa Worldwide (Japan) Co. is joining with mobile telecom provider NTT Docomo Inc. to launch what the companies are calling Japan’s first mobile-based virtual prepaid card for online shopping.
BofA Merrill Offered Faster Corporate Payments to Asia (Sept. 17, 2013)
Sept. 17, 2013 Bank of America Merrill Lynch is aiming to improve the speed and efficiency with which banks and corporations can make high-dollar payments to Asia. The company’s new Accelerated Payments to Asia solution uses smart routing technology to mitigate the difficulties typically faced by corporations making U.S. dollar payments to Asia due to […]
rePower Expands in Europe, Adds paysafecard (Sept. 17, 2013)
Sept. 17, 2013 MasterCard is expanding the reach of its rePower prepaid card reload network to more European nations and adding partners as part of its push to make loading cash onto prepaid cards easier for consumers across Europe, according to Matt Lanford, MasterCard Europe’s head of prepaid. At the 2013 MasterCard Europe Prepaid Conference […]
People on the Move: Mark Heimbouch, Vantiv Inc. (September 2013)
Vantiv Inc., a Cincinnati-based payment processor, announced that Chief Financial Officer Mark Heimbouch received the Cincinnati Business Couriers’ 2013 CFO of the Year recognition in the public company category.
People on the Move: Craig A. Nies, Think Finance (September 2013)
Think Finance, a Fort Worth, Texas-based developer of financial products for underbanked consumers, has named Craig A. Nies chief analytics officer.
People on the Move: Christine Lee, SecureBuy Board (September 2013)
SecureBuy, a Ridgeland, Miss.-based provider of fraud technology and commerce solutions and wholly owned subsidiary of SignatureLink Inc., announced that Christine Lee has joined its board of advisors.
People on the Move: Ali Nizameddine, Payza (September 2013)
Payza, an online payment platform, has promoted Ali Nizameddine to executive vice president.
Misys modular back office service will streamline and consolidate
Banking software vendor Misys has launched a modular back office service that it says will centralise and consolidate all processing across asset classes, trading systems and branches globally.
People on the Move: Peter Ayliffe, Monitise plc (September 2013)
Monitise plc has appointed Peter Ayliffe non-executive chairman.
Companies on the Move: Mercury Payment Systems, RSPA and Inc. Recognition (September 2013)
Mercury Payment Systems, a Durango, Colo.-based payment processor, recently was recognized at the Retail Solutions Provider Association’s RetailNOW 2013 convention and expo with the RSPA 2013 Gold Medallion Award for vendor excellence and Best Electronic Payments/Financing Processor, while founders Jeff and Marc Katz were inducted into the RSPA Hall of Fame.
Companies on the Move: Heartland Payment Systems, InformationWeek 500 (September 2013)
Heartland Payment Systems, a Princeton, N.J.-based merchant processor, has been named one of the top technology innovators in the U.S.
People on the Move: Bill Rochfort, Global Payout Inc. (September 2013)
Global Payout Inc., a San Diego-based provider of electronic payment and prepaid card solutions, recently announced that its board of directors has appointed Bill Rochfort president of the company.
People on the Move: Steve Antonakes, Consumer Financial Protection Bureau (September 2013)
The Consumer Financial Protection Bureau recently announced that Steve Antonakes has been named deputy director of the agency.
BAML builds single data repository
Bank of America Merrill Lynch (BAML) has completed consolidation of client transaction banking data from multiple systems into a single centralised data repository. The service will provide corporate clients with up to 14 months of data online or in file format.
People on the Move: Percy Batliwalla, Bank of America Merrill Lynch (September 2013)
Bank of America Merrill Lynch has named Percy Batliwalla global head of sales for large corporates and financial institutions, global transaction services.
Fundtech aims to make bureau offerings cheaper
Transaction banking specialist vendor Fundtech has released a new financial messaging platform called Global Messaging Plus, which it said would make service bureau offerings such as software as a service more attractive to tier one and two banks.
Daily News at Sibos 2013: Day 2
Daily News at Sibos Day 2 2013
Digitisation of cash a focus at Innotribe session
Bitcoin has had a bizarre beginning, full of whats, ifs and maybes. In what seems to be a case of virtual reality came virtual cash, with software written by an anonymous donor and a principle that could play a leading role in the future of online transactions.
MasterCard and EFL partner to underwrite unbanked SMEs
MasterCard and Entrepreneurial Finance Lab (EFL) have announced a global partnership to promote small business growth in developing countries. The partnership, agreed yesterday at Sibos, provides international issuers in developing markets with new tools to help to improve credit underwriting for unbanked small businesses.
Swift sets course for collaborative compliance
Swift’s “True North” is the fact that it is a cooperative, and it will focus on this as it moves towards developing collaborative industry utilities to address complicated issues in areas such as KYC.
Data management: Knowledge is power
Standardised data architecture at financial institutions is no longer a ‘nice to have’. Regulatory pressures and headline grabbing fines have rocketed enterprise data management to the top of the boardroom agenda.
Brave new worlds
International financial centres can play an important role in easing companies’ participation in new markets. Heather McKenzie looks at the elements needed to build a successful financial centre
CFPB Weighs in on Payroll Cards; Agency’s Leader Takes Drubbing from House Republicans (Sept. 16, 2013)
Sept. 16, 2013 The Consumer Financial Protection Bureau (CFPB) is the latest to weigh in on payroll cards by issuing a bulletin to companies reminding them that employers cannot require their employees to receive wages on a payroll card. “Employees must have options when it comes to how they receive their wages,” CFPB Director Richard […]
Capital One Exits Isis Mobile Wallet (Sept. 16, 2013)
Capital One Financial Corp. this week ends its trial run with the Isis Mobile Wallet, raising questions about what combination of payment cards Isis will have when the wallet officially launches later this year.
