Orange puts bank on hold as it struggles to get it right
Orange has put the brakes on its ambitious plans to venture into the world of mobile banking after finding the proposition doesn’t quite meet the standards.
Orange has put the brakes on its ambitious plans to venture into the world of mobile banking after finding the proposition doesn’t quite meet the standards.
A handy round-up of who’s investing in what in the fintech space. Featuring Revolut, Tango Card and ClauseMatch.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Users of Moneymailme will have the option of using physical and virtual prepaid cards to make purchases with the funds in their e-wallets. The new feature, announced June 28 at the Money 20/20 Europe conference, is the result of a partnership between the London-based social money transfer provider Moneymailme and Prepaid Financial Services, a U.K.-based payments technology provider.
Consumers prefer to use P2P payments for retail purchases, paying back relatives and friends, and settling bills—but not so much for contributing to group gifts or paying housing costs, according to a new report from NerdWallet. It also found that that while only 35 percent of U.S. consumers use such P2P products as Venmo, PayPal and Square Cash, 63 percent are interested in the payment technology.
Investors continue to show strong interest in fintech-based payments services providers, as Visa acquires an equity share in fast-growing Swedish e-commerce specialist Klarna, and startups Revolut and Tango Card land significant financing rounds.
For the finale of the final day of Money20/20 Europe, financial inclusion was discussed with resolute optimism for a bright future.
London-based biometric tech vendor Sthaler is working with Nordic payments provider Nets to introduce finger-vein enabled payments to the consumer market in Europe.
The Association of Banks of Singapore (ABS) has unveiled a new funds transfer service – PayNow – that requires only a mobile and identity card numbers to enrol.
BBVA has signed an agreement with Chinese tech giant Ant Financial to enable Chinese tourists to pay in Spanish stores using the Alipay mobile wallet. BBVA is the first Spanish financial institution to be working with Alipay.
On June 26, artificial intelligence captured the imagination of some at Money20/20 in Copenhagen. But during the June 27 sessions on the second day, it was like I had stepped back in time to November 2016, reported Deputy Editor Antony Peyton. Last year, at the Payments International conference in London, PSD2 left some in the payments industry confused as to where the risks and opportunities lie.
Retail payments have taken another step into the future. Payment processor Payscout has launched a virtual reality system that employs Visa Checkout and enables consumers to examine products before ordering them for delivery to shoppers’ homes.
Cross-border payments and receivables specialist Flywire has added PayPal to its platform as a funding option, enabling businesses, students and patients to fund cross-border payments via PayPal accounts. PayPal now is available as a payment method for Flywire users in the U.S., Canada, U.K. and European Union, Flywire said.
One-fourth of Americans say they have too much debt, with 96 percent of them reporting they are financially stressed, according to a survey by the Center for Financial Services Innovation to gauge Americans’ financial well-being. While those statistics are bleak, they should signal an opportunity for banks, credit unions, fintechs and other companies to provide products, services and guidance to improve consumers’ financial stability, according to Jennifer Tescher, founder and CEO of CFSI.
UK-based digital bank Monese has expanded its current account service to 19 countries in Europe, enabling customers to open bank accounts and “bank like a local”, even if they are not a local resident.
Israel’s Bank Leumi has launched its new digital banking subsidiary, Pepper.
Wirecard AG has launched a new POS service that integrates self-learning technology to help retailers increase customer conversion, reduce attrition rates, predict future consumer behavior and link points of sale with e-commerce.
Poland-based mBank has started to license its mobile and online banking system to other financial institutions outside Poland. The first taker is La Banque Postale (LBP) in France. The implementation will be carried out with the help of Accenture, mBank’s “strategic partner”. Alice Holzman, director of digital at LBP and lead of the bank’s New […]
Fintech zeitgeist! Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye. This week, Banking Technology’s editor Tanya Andreasyan looks at one bank that has managed to successfully converge its digital and “brick and mortar” journeys […]
Clark, a German insurance robo-advisor, has inked a deal with mobile bank N26. Clark says its Bancassurance-API will help customers of N26 “to better understand their current tariffs and improve their insurance situation”.
Norway’s Sparebanken Sogn Og Fjordane (SSF) Bank is modernising its digital banking tech with Backbase.
London-based challenger bank Starling has received a banking passport into Ireland. The bank says this is “its first step in its plans to provide services to European markets”.
UK challenger bank Starling has launched a “Spending Insights” tool and an online community for its users – and it is setting out its future plans. Spending Insights is probably self-explanatory. It works in the app and the bank says it gives users ideas about where they can save money. It shows customers how much […]
India-based HDFC Bank has selected Silicon Valley start-up ZineOne to improve its digital banking offerings. The bank will deploy ZineOne’s Customer Interactions Hub (CIH), which will establish a single customer identity and “bring real-time, contextual, and omni-channel functionality” to interactions across businesses, applications and digital properties including web applications, mobile apps, digital wallets, website, kiosks […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Dankort, the national debit card of Denmark, has made shopping easier for consumers using iPhones.
EBank, a new bank in Namibia, has implemented Fiorano ESB, an enterprise service bus to “seamlessly integrate” the bank’s core processing software – Temenos T24 – with other third-party systems and channels, with a major focus on digital banking.
Valley National Bank, a $23 billion regional bank holding company headquartered in northern New Jersey, is undertaking a widespread technology refresh to improve customer experience and profitability.
Mastercard and Western Union have teamed up to help refugees around the world access goods, services and financial services within refugee settlements. Announced on June 20—World Refugee Day—the partnership will explore ways to use a digital model to serve the more than 65 million people around the world currently displaced from their homes due to political conflict and natural disasters.
Even when serving in senior manager and director roles with the likes of American Express and TSYS early in his career, Rick Oglesby, AZ Payments Group president, always felt he was destined to be a payments consultant. That vision came true in 2011, and you don’t have to spend too much time with him before his love of consultancy work—helping companies succeed while establishing and nurturing relationships—becomes apparent and likely is the reason why he was selected as one of the industry’s Top Payments Consultants.
Colu, a blockchain-powered platform provider, has unveiled its second currency in the UK – the “Local Pound, East London”. The firm’s idea is to provide people in East London with a digital, localised currency and so create a “closed-loop economy”. It uses Colu’s digital wallet app, and individuals can pay from a smartphone. It is […]
Amsterdam-based mobile network operator and technology company VEON has partnered with Wirecard AG as part of a global payments and processing agreement. Wirecard, a Germany-based provider of global payments solutions, now manages third-party payments functionality and airtime top-up on VEON’s Internet platform, enabling customers to upload funds and update mobile payment accounts within seconds, according to an announcement.
Facing disruption from fintech providers, traditional banks must embrace APIs and the open-source model to avoid losing their place at the center of consumers’ financial lives, a new report warns. Capgemini’s 2017 World Retail Banking Report polled thousands of retail banking customers around the world to gauge how the rise of fintech-based financial services has changed the game when it comes to banking.
Eight fledgling fintech companies have won $250,000 each from the Center for Financial Services Innovation. Each FinLab winner in this third annual competition from the CFSI receives $250,000 in capital, along with resources to test, enhance and scale their products, in part via the expertise of JPMorgan Chase, a founding lab partner.
Texas-based Lone Star Credit Union has become the 50th live site for the Keystone core processing system, supplied by Corelation.
This year’s Banking Technology Awards are taking place on 13 December in London and once again we will be recognising individuals for leading and playing an instrumental role in devising and/or delivering the technology strategy to support the key business objectives of an organisation. The Tech Leadership Award category is open to all industry participants worldwide – those […]
Sandia Laboratory Federal Credit Union (SLFCU), the largest credit union in the US state of New Mexico, is modernising its front-to-back office technology with Alkami Technology and Corelation.
More than $809 billion is set to switch to the fledgling instant payments system in Europe by 2027, representing a significant threat to cards, according to a new report from Ovum, a London-based consultancy. Instant, or real-time, payments enable account-to-account bank transfers in seconds instead of days.
European banks are placing strategic bets in areas ranging from wealth management, lending, payments, regulatory technology, software, and blockchain. Which banks were the most active and what did they invest in?
Rhode Island-based Citizens Bank is partnering with Bottomline Technologies to unleash a brand spanking new online and mobile banking platform for its commercial and business banking clients. The new digital banking platform offers a suite of cash management and payment services. The application features simplified transactions; integrated payment workflows; user personalisation with self-service capabilities; and […]