Banking Technology March 2017 issue out now
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
Mobile
Credit Suisse makes headway in digital space in Asia
Credit Suisse has launched two solutions in the digital space to keep up with consumer expectations: digital client on boarding for private banking and automated account aggregation and reporting.
Top fintech stories this week – 3 March 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Bots and biometrics: The Mobile World Congress shows the future of payments
Bots, biometrics and wristbands stood out as examples of payments innovation this week at the annual Mobile World Congress in Barcelona. Judging by the product releases and displays, the future promises to involve more use of fingerprints in payments, and technology that allows quick purchasing from social media, reports Paybefore (Banking Technology‘s sister publication). Payment bots […]
Bots and Biometrics: The Mobile World Congress Shows the Future of Payments
Bots, biometrics and wristbands stood out as examples of payments innovation this week at the annual Mobile World Congress in Barcelona. Judging by the product releases and displays, the future promises to involve more use of fingerprints in payments, and technology that allows quick purchasing from social media.
Silvergate Bank overhauls front-to-back office tech with FIS
California’s Silvergate Bank has implemented a suite of systems from FIS in a major tech overhaul – from a new core banking system to branch, digital and mobile banking, compliance and risk. The new core banking platform – FIS’s Horizon – will let the bank “streamline” its third party systems, such as account opening and […]
Mastercard and Getir power payments bot for Facebook Messenger
Mastercard has teamed with Turkish mobile retail firm Getir to use its bot for the “first” Masterpass payments in Facebook Messenger. Customers search for Getir (think “get here”) in Messenger, chat with the bot in a “natural, conversational way”, and make a payment with Masterpass. Getir says users can receive a ten-minute delivery from its […]
Mastercard and Singapore’s transport authority test contactless cards while eying mobile payments
Mastercard and the Land Transport Authority (LTA) in Singapore have teamed up to launch a pilot programme enabling commuters to pay for transit fares using contactless payment cards through an account-based ticketing (ABT) system.
Survey smiles on worldwide payment schemes
Developing new services, adopting the latest technologies and collaboration are the top priorities among payment schemes worldwide, according to a new study.
Mastercard makes global mobile payments go Qkr
Mastercard says it will significantly expand the scope and capabilities of its Qkr with Masterpass mobile payment service. Not only is the technology set to debut in the US and five other countries, but it will now integrate with retail software provider Oracle, reports Banking Technology‘s sister publication Paybefore. At the Mobile World Congress in […]
Mastercard, Transport Authority Test Contactless Cards While Eying Mobile Payments
Mastercard and the Land Transport Authority (LTA) in Singapore have teamed up to launch a pilot program enabling commuters to pay for transit fares using contactless payment cards through an account-based ticketing (ABT) system. Although the tap-and-go pilot hasn’t begun yet, the next step of enabling consumers to use mobile wallets and wearables already is in the works.
Survey Finds Payment Schemes Worldwide Optimistic, Looking to Cooperate
Developing new services, adopting the latest technologies and collaboration are the top priorities among payment schemes worldwide, according to a new study.
First New Clearing Bank in 250 years Enters U.K. Market
There’s a newcomer on the U.K. challenger bank scene, but it’s not wooing consumers. As a bank for banks, other FIs and fintech companies, ClearBank will offer customers access to U.K. payment systems and core banking technology to support current account capabilities.
Mobile: the banking industry’s biggest ultimatum
An app is no longer a “nice to have”. As consumers expect businesses to engage with them at the right time, in the right manner, and over the right channel, a bank’s mobile app will be a crucial first point of contact for many customers. But it’s important to remember that an app by itself is not some wonder-cure that will instantly give a financial organisation perfectly satisfied customers.
Santander employs IBM for employee digital boost
IBM’s MobileFirst for iOS apps will be used by Santander as the bank looks to revamp its digital banking services and help its employees work better. The custom-built, native apps made for iOS will be rolled out across more than 11,000 iOS devices, and will be used by Santander’s commercial network employees, including those supporting […]
Three US FIs in tech revamps
Credit Union of Southern California, Brazosport Teachers Federal Credit Union and Rosedale Federal Savings & Loan Association are undergoing tech modernisation.
Mastercard Gives its Mobile Payments a Bigger Global Stage
Mastercard significantly will expand the scope and capabilities of its Qkr with Masterpass mobile payment service, the network said Feb. 27. Not only is the technology set to debut in the U.S. and five other countries, but it will now integrate with retail software provider Oracle.
Isbank partners with PPRO for cross-border payments
Turkey’s largest bank Isbank is partnering with PPRO Group for cross-border payments in more regions. The deal means the bank can offer e-commerce merchants 13 local alternative payment methods worldwide. Isbank says it can now also extend access to real-time online banking payment methods and e-wallets in more than 25 countries in Europe, Asia and […]
More than making nice: why payments execs are wooing merchants
The payments industry invitation to merchants to play a bigger role in innovation seems serious and pragmatic, writes our senior editor, an e-commerce expert.
Bank of America zooms in on Zelle for mobile banking
Bank of America has chosen the person-to-person (P2P) Zelle service within its mobile banking app as part of its digital drive. Zelle will let clients send, receive and request money, allowing them to use the existing contacts on their mobile device to transfer money to (or request money from) “almost anyone within minutes, regardless of […]
Mogo’s new prepaid product taps into growing Canadian market
Mogo, a Canada-based fintech firm, has launched what it describes as the country’s first prepaid digital spending account managed through a mobile app, reports Banking Technology‘s sister publication Paybefore. The debut of the Mogo Spending Account and the Mogo Platinum Prepaid Visa comes amid robust growth in prepaid transactions in Canada. The full-service GPR card […]
Need for human connection in digital banking
Technology may rule the world, but human connection is still king.
Digital gets a spurt with Natwest and RBS experts
To raise awareness about online and mobile banking and help customers use digital platforms, NatWest and Royal Bank of Scotland (RBS) say they aim to deploy a “TechXpert” at every branch in England, Scotland, and Wales. NatWest is part of the RBS group, and at 1,000 NatWest and 2,000 RBS branches, these experts will help […]
Mahindra Comviva brings its payments to rural India
Mahindra Comviva has launched Payplus Aadhaar Pay, a merchant payment acceptance solution, as it targets the rural areas of India. The Aadhaar infrastructure, created by the Unique Identification Authority of India (UIDAI), onboards customers and provide them with online services. UIDAI collects the biometric and demographic data of residents, stores them in a centralised database, […]
Mogo’s New Prepaid Product Taps into Growing Canadian Market
Mogo, a Canada-based fintech firm, has launched what it describes as the country’s first prepaid digital spending account managed through a mobile app. The debut of the Mogo Spending Account and the Mogo Platinum Prepaid Visa comes amid robust growth in prepaid transactions in Canada.
Payments round-up: 21 February 2017
One is the loneliest number that you’ll ever do… so three stories in one will do better. Here’s a round-up of key events to save you time. Featuring Macquarie Bank, Apple Pay and more. The European Banking Authority (EBA) has relaxed its planned rules for increasing choice in how consumers pay for services and products […]
Q&A with Walt Granville, Cachet Financial Solutions
No more “one and done.” That’s central to Cachet Financial Solutions’ mission for its prepaid clients and was the impetus for platform upgrades that were nearly a year in the making. Paybefore spoke with Walt Granville, senior vice president of mobile innovation, about what’s resonating with clients and how Cachet is using optimized mobile apps to help them fight churn.
Innovators’ Spotlight: Raise
The Chicago-based startup enables consumers to easily purchase and redeem e-gift cards right from their smartphones, essentially turning unwanted e-gifts into a convenient and useful form of digital currency.
Kenya Bankers Association unveils real-time interbank switch
Kenya Bankers Association (KBA) has launched its real-time interbank switch, PesaLink, and kicked off a phased rollout of the digital payments platform. The product has been in the making since 2013, when KBA member banks decided to create their own industrywide switch to rival the M-Pesa services. KBA vice-chairman John Gachora says PesaLink is “proof […]
Chase to launch new self-service mortgage platform with Roostify
Chase is planning to launch a new self-service mortgage platform for its 43 million digital users, and will allow customers to digitally track their application – from start to finish.
Nordea Liv and Spiff collaborate for a new social savings app
Nordea Liv, a life insurance arm of Nordea, has worked with Norwegian fintech start-up Spiff to create a new app that will motivate customers to save money to reach goals.
Top fintech stories this week – 17 February 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Mobile payments in the age of the customer
The mobile payment market is getting more congested every day. For banks, it’s the most frequent touchpoint – one that can help (re) establish everyday relevance and drive engagement. How can banks develop their strategy and prioritise the capabilities that will help them remain valuable to their customers?
Joy for Bankjoy as three credit unions sign contracts
Fintech start-up Bankjoy has signed three credit unions for its digital banking software: CommunityWide Federal Credit Union in Indiana; Advantage Plus Federal Credit Union in Idaho, and One Detroit Credit Union in Illinois.
Webinar Recap: How to Capitalize on Millennial Paycard Opportunity
More than 5 million U.S. millennials don’t have a checking account, and a third say payroll cards would be a valuable way to receive wages. With their distaste for traditional bank accounts and high level of interest in payroll cards, millennials represent a natural and significant market opportunity.
Mobile money: the state of play
With mobile money technology widely available, and so many citizens having access to a mobile phone, how many are actually banking in this way? What are the benefits available to them when using mobile money? And what does the future hold for this fintech innovation?
This Virtual Piggy went to market for young mobile consumers
US-based mobile banking firm Virtual Piggy will soon begin testing a mobile wallet for consumers aged 17 and younger, the latest move in the parent-supervised world of mobile payments, reports Banking Technology‘s sister publication Paybefore. The test, set for April, will involve a mobile payments platform that enables parents to supervise spending by their children. […]
Virtual Piggy Crafts Mobile Wallet Product for Young Consumers
Pay Award-winning Virtual Piggy said Feb. 14 it soon will begin testing a mobile wallet for consumers age 17 and younger, the latest move in the parent-supervised world of mobile payments.
Santander first bank in UK for voice-powered payments
Santander has become the first bank in the UK to allow customers to make payments using their voice. As Banking Technology reported in March 2016, Santander said it was the “first” bank in the UK to launch voice banking technology. Phase one enabled customers to talk to their Santander SmartBank app and ask about their […]
Australian banks in one last grapple with Apple
Four big Australian banks haven’t given up the fight to convince the country’s antitrust regulator that they get some concessions from Apple over Apple Pay. With a decision due in a few weeks, the Commonwealth Bank of Australia (CBA), National Australia Bank (NAB), Westpac, and Bendigo and Adelaide Bank may have made their final submission […]
