Banks Banking on APIs for Payments and Beyond
Facing increased competition from financial services upstarts and tech firms, banks are doubling down on application programming interfaces (APIs) as a competitive tool, a new report shows.
Mobile
Singapore Test Tackles Paper with Digital Bank Account Opening
Singapore is testing an initiative enabling consumers to apply for a bank account without needing to submit supporting documentation.
Apple Pay ready to go for HSBC Australia
With the battle of the four banks won, Apple Pay’s fight to retain its Australian smartphone market continues as HSBC Australia is now offering support for its customers for the first time. Back in March, Apple Pay emerged victorious in its long-running feud with four domestic banks over their permission to collectively bargain with Apple […]
Payroll Cards Earn Top Grades from CFSI—Except in One Area
The payroll card industry received high marks for its standards and its ability to “stretch beyond the basics,” according to a new report from the Center for Financial Services Innovation. But CFSI’s first-ever “Payroll Industry Scorecard” gave the industry an average mark for its ability to provide additional services that “improve customers’ lives.”
Australia’s Mosaic to unveil “bank account on steroids”
An Australian start-up is set to launch a “bank account on steroids” by offering investment, transaction and savings accounts in one product. Called Mosaic, the bank will allow a user to invest in any asset class if they’re an active investor or be risk profiled to determine a passive fund “best suited to their situation”. […]
BIM, Peru’s first mobile money wallet: lessons learnt
Peruvian mobile wallet BIM, described as “the world’s first fully-interoperable national mobile money platform”, will launch new services in H2 2017. It will enable customers to pay electricity, water and telephone bills, as well as have access to micro savings and loans, and micro-insurance.
Payments start-ups PayKey and Blue Code win Temenos innovation final
Israeli payments start-up PayKey was voted as Temenos’ Innovation Jam winner by the attendees of the 2017 Temenos Community Forum in Lisbon. Another payments start-up, Austria-based Blue Code, was crowned the winner of the Judges Awards (the judges panel consisted of three Temenos’ senior execs, two representatives from banks and a consultancy). The prize is […]
Samsung Pay lands in four more nations
Samsung Pay is expanding to four more countries – with official launches in Sweden and the United Arab Emirates (UAE), and it enters early access in Hong Kong and Switzerland. The launches in the UAE and Sweden are Samsung Pay’s first markets in the Middle East and the Nordics. Last month, Nordea launched the beta […]
Money Transfer Goes Social: What the Facebook Land Grab Means
With MoneyGram and Western Union betting that Facebook-loving consumers will use “sendbots,” the old guard of remittance providers may have an edge on startups.
One hand clapping for TSB’s new mobile app
TSB has begun to roll out its new mobile banking app – the first service built by its new Proteo IT platform. It says the app has been built from scratch – with a new user interface. Features include access through fingerprint and one-hand navigation for the most-used transactions. It is available for both AndroidTM […]
How Fintech Startups Are Transforming Retail Banking and Finance
Sure, convenience remains vital. But to reach digitally savvy consumers—including millennials—new entrants in the payments arena will need to think socially, and be ready to chat.
Interview: Oliver Hughes, Tinkoff Bank
In an exclusive interview, Oliver Hughes, CEO of Russia’s Tinkoff Bank, talks about its online financial supermarket, maintaining momentum, and how US and UK banks can be occasionally underwhelming.
Paybefore Reveals 2017 Pay Awards Winners
Paybefore announced the winners for the 2017 Pay Awards—the most prestigious recognition of excellence in the global prepaid and payments technology industry. Our expert judging panels have made their decisions. Now you can weigh in and help your favorites win the coveted Best-in-Category designation and a spot in the Pay Magazine – Awards Issue.
Starling Bank taps Pay by Bank app for mobile boost
Teaming is pleasing to Starling Bank as it reveals another partnership with the use of VocaLink’s Pay by Bank mobile payment app for its customers. This development follows quickly on from the challenger bank cosying up with Moneybox to give its customers access to a suite of saving and investing tools. In fact, it was […]
Myanmar’s First Private Bank in tech revamp with Misys
Myanmar’s First Private Bank (FPB) has chosen the Misys FusionBanking Essence core banking system for a major tech revamp. The bank, which received the first banking licence in Myanmar in 1992, will upgrade its retail, corporate and digital offerings. FusionBanking will replace the bank’s “partially computerised distributed branch system”. Dr Sein Maung, chairman at FPB, […]
Pay Magazine – Spring 2017
Paybefore’s Pay Magazine Spring 2017 issue out now.
U.S. EMV Hits Milestone: 1 Billion Visa Chip Transactions in March
U.S. EMV use has hit a milestone. Visa said that for the first time, the number of Visa chip card transactions topped 1 billion last month, a 330 percent increase from March 2016. The announcement comes as the payment network reported a 42 percent overall increase in processed transactions in its 2017 fiscal second quarter.
Fintech funding round-up: 24 April 2017
The latest fintech funding round-up featuring Token, Ongo, National Bank of Canada (NBC) and a bunch of venture capitalist firms.
Fintech start-up for SMEs Hufsy teams with SolarisBank for German launch
Hufsy, a Denmark-based fintech start-up focused on SMEs, is expanding into Germany. Its banking partner in Germany is SolarisBank.
Top fintech stories this week – 21 April 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Thumbs up for Mastercard’s new biometric card
Mastercard has launched its latest biometric card, combining chip technology with fingerprints to verify the cardholder’s identity for in-store purchases. South Africa is the first market to test the evolved technology, with two separate trails recently concluded with Pick n Pay, a supermarket retailer, and Absa Bank, a subsidiary of Barclays Africa. According to Mastercard, […]
Capriza powers Yorkshire Building Society mobile move
UK-based Yorkshire Building Society (YBS) has chosen Capriza’s platform to help improve its digital and mobile capabilities. The society will use the platform to let its customers connect and apply for its mortgages and savings accounts through mobile devices. Nick Mortimer, head of marketing and e-commerce, Yorkshire Building Society, says Capriza’s platform offers “very little […]
IBM promise in the cloud threatens to become false dawn
IBM has reported a mixed bag of results for the first quarter of 2017, with the strategic imperatives offerings up but overall revenues down 2% to $18.2 billion, reports Telecoms.com (Banking Technology‘s sister publication). While another quarter of decline is nothing new to report for Big Blue, what might be worrying for the team is […]
HelloPay merges with Ant Financial for AliPay boost
HelloPay Group, which runs the HelloPay payment platform and online shopping and selling site Lazada, has merged with China’s Ant Financial. Ant Financial, part of Jack Ma’s Alibaba Group, runs Alipay and so HelloPay has now been rebranded as Alipay Singapore, Alipay Malaysia, Alipay Indonesia and Alipay Philippines in its respective markets. Douglas Feagin, SVP […]
Bank ABC revamps digital channels with Backbase
Bahrain-based Bank ABC (Arab Banking Corporation) is modernising its digital channels for retail and wholesale banking customers with Backbase’s tech.
Zelle makes its presence known in P2P payments arena
The recent performance of Zelle Network, the peer-to-peer (P2P) payments platform with the funny name, is no laughing matter for competing P2P providers.
Zelle Makes Presence Known in P2P Arena
The recent performance of Zelle Network, the P2P payments platform with the funny name, is no laughing matter for competing P2P providers. Early Warning Services, a provider of real-time payments, authentication and risk mitigation services, announced April 17 that its Zelle Network processed more than 170 million P2P payments in 2016, totaling $55 billion in transaction value.
Simple’s move to a new bank API leaves some customers stranded
Moving accounts to Simple’s parent bank’s API is not that simple.
Intesa Sanpaolo, EBA Clearing Complete Pan-European Instant Payment Test
Italy’s largest retail bank, Intesa Sanpaolo, and EBA Clearing have successfully completed their first user testing activities on financial technology provider Dovetail’s solution for EBA’s pan-European real-time payment platform.
Ummah Finance to become first UK-based mobile Islamic bank
Ummah Finance aims to be “the first UK born Islamic bank solely set up and operating from London”, with a fully digital proposition.
Google’s Android Pay Gets a Hand from Banks
Google is banking on mobile apps to boost its mobile wallet. The Android Pay parent has linked that service to a handful of banking apps, giving consumers the ability add their cards more quickly to the mobile wallet.
More banks get mobile with Android Pay
Like an astute player of the Risk board game, Android Pay’s global expansion plans continue apace as it is working with several banks to let their customers add cards to its service from a mobile banking app. The latest banks include Bank of America, Bank of New Zealand, Discover, mBank and USAA. They follow on […]
Quash the queue with WoraPay’s Masterpass coup
We all love food and drink, and mobile service WoraPay has got in-sync and integrated Masterpass, the digital payment service from Mastercard. WoraPay’s service allows customers to buy food and drink, and pay in advance with their mobile. This means customers can order their morning coffee or tea (or whisky if you have a crappy […]
What’s Next for Mobile Ordering?
As major companies report success from mobile ordering, an expert shows what payment providers have to consider before taking the next step.
Coca-Cola Credit Union in front-to-back office tech revamp
Coca-Cola Credit Union in the US state of Georgia is modernising its online and mobile banking with Bankjoy, and its back office tech with Corelation.
Contactless payments ramp up in 2017
Following the announcement WhatsApp will enter into the mobile payments arena, new estimates from Juniper Research claims Apple Pay contactless users will nearly double over 2017.
Urban FT taps Sunrise Banks for prepaid partnership
White-label digital banking services provider Urban FT is joining forces with Sunrise Banks.
CFSI, Chase Seek Fintech Startups for Financial Health Awards
Fintech entrepreneurs still have a few weeks left to win financial backing from two big players in the payment space. The Center for Financial Services Innovation (CFSI) and JPMorgan Chase’s Financial Solutions Lab (FinLab) plan to award $250,000 to programs that help consumers build financial health, “with a special focus on those communities that are frequently underserved, such as older Americans, communities of color, people with disabilities and products that address the gender wealth gap.”
Starling Bank developer portal goes live
UK challenger bank Starling has unveiled its developer portal to enable third parties to access customer data and build on top of its platform using APIs. As Banking Technology previously reported, Starling launched its mobile app and is welcoming the first customers through its digital doors to join a beta testing programme. It also recently […]
Executive Profile: Walt Granville, Digiliti Money
From his current role as senior vice president of mobile innovations at Digiliti Money (formerly Cachet Financial Solutions), Walt Granville has the perfect vantage point to see the transformative power of mobile for prepaid programs. Find out more from the former pro runner, including which apps are on his must-list, where he sees prepaid in five years and the trend he’s watching most in 2017.
