ABN Amro hiring spree targets Asian private wealth
Dutch bank ABN Amro has hired 11 new specialist staff as it attempts to build out its business for high net worth individuals in Asia and the Middle East.
News
Information Mosaic sets out tools for T2S
Software company Information Mosaic has released an improved version of its corporate actions tool, IMActions, which it says will help banks and CSDs prepare for T2S.
Citi rolls out “branchless” ATMs in Asia
Citi has introduced a new kind of ATM designed to help customers do virtually all their banking without visiting a branch.
Rise of the machines: banks embrace automation despite the cost
Flawed decisions taken by machines are causing financial services firms to lose customers and suffer unexpected costs, according to new report by the Economist Intelligence unit. Yet retail banks are increasingly turning to technology to assess customers.
Report: PayPal, LevelUp, Starbucks, Google and Square Front-Runners in Mobile Wallet Race (Jan. 29, 2013)
Jan. 29, 2013 Mobile wallets are far from fully developed, but a handful are gaining an early edge on competitors based on ease of use and payment options, according to new analysis from Carlisle & Gallagher Consulting Group. The firm’s “Mobile Wallet Market Analysis” set out to analyze “apps for smartphones or tablets enabling consumers […]
Intuit Nabs Facebook-Based Commerce Platform Payvment (Jan. 29, 2013)
Jan. 29, 2013 Software maker Intuit Inc. has acquired Facebook e-commerce platform Payvment, taking over the Palo Alto, Calif., company’s employees, technology and patents—but not its customers. In a note posted on its Website yesterday, Payvment announced that its team was “joining a new company” and that the platform—which enables retailers to create their own […]
Ingenico Eyes E-Commerce with Ogone Buy (Jan. 29, 2013)
Jan. 29, 2013 In a move POS terminal maker Ingenico said is part of its bid to become a “one-stop-shop” for multichannel payment solutions, the Paris-based company has entered a deal to acquire payment processor Ogone Partners for EUR360 million (US$485 million). Ingenico will incorporate Ogone’s 42,000-merchant online payments platform into its existing POS and […]
FreedomPay Launches ‘Vibe’ Mobile Wallet for Restaurants (Jan. 29, 2013)
Jan. 29, 2013 Adding to a growing array of mobile payments options for merchants, FreedomPay is entering the fray with “Vibe,” a mobile wallet initially targeting restaurant operators interested in creating targeted consumer promotions on the fly, based on specials, weather and in-store traffic conditions. The Radnor, Pa.-based payment processor says its cloud-based mobile wallet […]
Social media 2.0 for banks
A new social media tool designed for banks and built by British technology firm Integritie aims to break through the barriers that separate customers from their bank.
Riding the payments roller-coaster
UK banks are still in “a difficult place” as they face economic uncertainty, increased cost and competitive pressures, complex regulations and rapid technological changes – but the changes that are happening in the payments industry offer scope for them to reclaim the initiative and deploy innovative solutions.
Industry “not ready” for OTC derivatives reform
Four out of five financial institutions are not ready for new regulations governing the trading, reporting and clearing of OTC derivatives, according to a new survey by US communications company IPC.
Paybefore Announces Winners, Opens Voting for Best in Category (Jan. 28, 2013)
Jan. 28, 2013 Paybefore today announced winners for the 2013 Paybefore Awards—the most prestigious recognition of excellence in the worldwide prepaid and emerging payments industry. And for the first time in the seven-year history of the awards, Paybefore is allowing visitors to Paybefore.com (subscribers and nonsubscribers) to cast their votes for Best in Category through Feb. […]
EBA proposes year-end deadline for large bank recovery plans
The European Banking Authority has adopted a formal recommendation to push major EU cross-border banks into developing group recovery plans by the end of this year.
Eurex rejigs management as Reitz steps down from repo and bond subsidiaries
Peter Reitz, managing director of Eurex Repo and Eurex Bonds since 2006, has stepped down from the posts. He will continue to bear overall responsibility for the two subsidiaries on the Eurex Executive Board.
Breaking News: Obama 2012 Recess Appointments Unconstitutional (Jan. 25, 2013)
Jan. 25, 2013 Just a day after President Obama nominated CFPB Director Richard Cordray to continue in his role as the bureau’s director, a three-judge panel of the U.S. Court of Appeals for the D.C. Circuit ruled that the President violated the Constitution when he bypassed the Senate to fill vacancies on the National Labor Relations Board, according to a […]
Regional differences colour IT spending priorities
Total bank IT spending across North America, Europe, and Asia-Pacific will grow to $179.2 billion in 2013, an increase of 3.4% over last year according to research and consulting firm Celent.
Obama Re-nominates Cordray as CFPB Director (Jan. 24, 2013)
Jan. 24, 2013 Wasting little time following his inauguration on Monday, President Barack Obama this afternoon has re-nominated Richard Cordray as director of the Consumer Financial Protection Bureau (CFPB). The confirmation process for the former Ohio Attorney General could be rocky, considering Obama’s appointment of Cordray last year during a congressional recess. “There were no […]
Regulators to Set Guidelines on FIs’ Social Media Activity (Jan. 24, 2013)
Jan. 24, 2013 With U.S. financial institutions increasingly using social media to market to and interact with consumers, federal regulators have set their sights on establishing guidelines for consumer protection and compliance over such channels. The Federal Financial Institutions Examinations Council (FFIEC) has issued a notice of proposed guidance and request for comment from the […]
Fiserv Survey: More Consumers Use Mobile Devices to Pay Bills (Jan. 24, 2013)
Jan. 24, 2013 The number of consumers using mobile devices to pay bills is slowly gaining momentum, according to Fiserv Inc., a Brookfield, Wis.-based provider of financial services technology, in its fifth annual Billing Household Survey, which assesses bill payment habits of active online households and infrequent or non-Internet users. Though the percentage of households […]
Taiwan’s FTC Approves Mobile Payment Platform (Jan. 24, 2013)
Jan. 24, 2012 Mobile carriers around the world continue to join forces to enable mobile payments. On Jan. 23, Taiwan’s Fair Trade Commission (FTC) approved an application by five domestic mobile carriers and transit card provider EasyCard Corp. to jointly run a platform for mobile payment-related apps, according to the Central News Agency. Chunghwa Telecom […]
Report: Corporate Mobile Payments Reduce Costs by Up to 20 Percent (Jan. 24. 2013)
Jan. 24, 2013 The rise of corporate mobile payments is leading to some big saving for companies around the globe that are seeing reductions of up to 20 percent on their cash-collection costs, according to a new white paper by Mobile Money Consulting, a London-based advisory firm. Corporations in emerging markets are seeing the highest […]
Earnings Roundup: Google, TSYS (Jan. 24, 2013)
Jan. 24, 2013 Online search giant Google Inc. and payments processor TSYS recently released fourth-quarter financial results. Google reported revenues of $14.4 billion for the fourth quarter of 2012, an increase of 36 percent compared with $10.6 billion in the same quarter a year ago. Net income in the fourth quarter of 2012 grew 7.4 […]
Lloyds slashes another 940 jobs as cuts deepen
Lloyds Banking Group is to cut 940 more jobs, the latest in a series of savage headcount culls at major financial institutions. Separate announcements earlier this week confirmed 200 human resources jobs would be axed, and a further 175 cuts made in the Halifax branch network.
CGI in mobile alliance with Monitise
CGI, which recently acquired UK software house Logica, has formed a partnership with mobile banking and payment specialist Monetise to offer joint services for banking and payments companies using the Monitise platform.
Broker back-ends still outpaced by trading technology
Too many brokers are still using outdated methods such as email and telephone to confirm trade matches, undermining the advantages gleaned from high-performance trading technology, according to a new study by financial research firm Aite Group.
Chilean broker imports UK trading technology
Chilean broker Banchile, part of Santiago- based Banco de Chile, has deployed a brokerage platform from UK systems supplier Fidessa that will link it to international trading venues.
The Return of the Old-Fashioned Villain
The latest bi-annual Fraud Barometer from KPMG has shown a rise in individuals committing more traditional swindles such as Ponzi schemes, cheque fraud and procurement fraud. The findings are in broad agreement with figures from CIFAS, the UK fraud monitoring service, published last week
HML hires Turner to boost business
Specialist financial outsourcing company HML has hired Nigel Turner as its new chief commercial officer.
Information Mosaic makes Kunz chairman
Post-trade software company Information Mosaic has appointed Ulrich Kunz as non-executive chairman to help drive its ambitions to expand into analytics.
Google Powers Digital Coupons with Zavers (Jan. 22, 2013)
Jan. 22, 2013 Google Inc. is adding digital muscle to coupons with Zavers by Google, a paperless couponing system introduced earlier this month that enables consumers to capture coupons online and redeem them automatically through store loyalty cards, tracking their deals through a computer browser or any mobile phone. The system is designed to give […]
Telefónica Deutschland to Launch NFC Pilot (Jan. 22, 2013)
Jan. 22, 2013 Munich-based Telefónica Deutschland in mid-February plans to enable P2P funds transfers between its mobile phone service subscribers along with a new NFC pilot that will launch at the same time in Germany. The effort grew out of the mpass mobile wallet service, announced last year as a joint venture between Telefónica Germany, […]
PayNearMe Targets Small Billers with New Cash Payment Service (Jan. 22, 2013)
Jan. 22, 2013 Cash transaction network PayNearMe is taking its payment services small-time in a move the company thinks will pay off in a big way. The Sunnyvale, Calif.-based firm, founded in 2009 and led by CEO Danny Shader, has launched PayNearMe Express, a self-service version of its existing cash payment system, aimed at enabling […]
Synchology Entices Mainstream Consumers to ‘Jump’ into Prepaid (Jan. 22, 2013)
Jan. 22, 2013 Prepaid card provider Synchology is targeting a decidedly “banked” demographic with its new card offering, betting that attractive features and a simple pricing model can attract mainstream customers as an alternative to traditional bank accounts. The Jump Visa Prepaid Card offers cardholders rewards, money management and budgeting tools, free customer support and […]
Earnings Roundup: American Express, Gift Voucher Shop (Jan. 22, 2012)
Jan. 22, 2013 American Express Co. and The Gift Voucher Shop (GVS), the U.K.-based provider of the One4all multistore gift card, recently released financial results. American Express reported net income of $637 million for the fourth-quarter ended Dec. 31, a decrease of 47 percent, compared with $1.2 billion a year ago. Q4 net income was affected […]
Flat outlook for salaries in financial services
Salaries for staff in London’s financial services sector are expected to remain flat, particularly among contract and temporary staff, according to the annual survey carried out by Morgan McKinley – but nearly a third of staff expect pay rises of 10%.
Squawker prepares for March debut with SIX Financial Information
Squawker, the start-up block trading venue headed by Christopher Gregory, has moved one step closer to its goal of providing a pan-European mid-point matching service for banks and brokers, following a deal between it and Switzerland’s SIX Financial Information this week.
Citi Launches Card Reader in India for Mobile Merchants (Jan. 21, 2013)
Jan. 21, 2013 As the U.S. and Western European markets for mobile card readers grow ever-more crowded, Citigroup is aiming to take a leadership position in mobile merchant acceptance in India. The bank this week announced what it describes as India’s first nationally distributed dongle, enabling merchants to accept credit and debit cards with a […]
WorldPay, Discover Expand Partnership for In-Store Payments (Jan. 21, 2013)
Jan. 21, 2013 Payment acquirer WorldPay US has struck a deal with Discover Financial Services that will enable WorldPay’s customers to accept PayPal in-store payments beginning this spring. Discover and PayPal announced an agreement last August under which PayPal account holders will be able to make payments at brick-and-mortar stores that accept Discover, using a […]
RBS to Leverage MasterCard’s Conferma Partnership for Corporate Travel Card Services (Jan. 21, 2013)
Jan. 21, 2013 Edinburgh-based RBS Group and MasterCard Worldwide today announced that RBS will be the first bank enabling its global commercial card customers to integrate MasterCard’s inControl platform with U.K.-based Conferma, which provides corporate travel booking and related services for companies around the world. The service grew out of a partnership MasterCard formed in […]
BillFloat, payleven Land Nearly $30 Million in Funding (Jan. 21, 2013)
Jan. 21, 2013 A pair of payment startups have received cash infusions from investors totaling nearly $30 million. San Francisco-based BillFloat, which provides small-dollar loans to customers for electronic bill payments, landed $21 million from Investor Growth Capital (IGC), with participation from Bronze Investments and previous BillFoat investors Venrock, FirstRound Capital and Baseline Ventures. As […]
