Nine fledgling fintech companies have won $250,000 each from the Center for Financial Services Innovation, or CFSI. At least week’s Emerge Conference in New Orleans, CFSI announced the FinLab winners from more than 300 applicants.
A savings and credit co-operative society (Sacco) in Kenya, Puan Sacco Society, has issued an RFP for new banking solutions. The Sacco is looking for core banking, SMS banking and mobile lending software, and a payroll management system. Provision of point-to-point connectivity services and office internet services, plus hardware maintenance are also included in the […]
Bendigo and Adelaide Bank, Australia’s fifth largest retail bank, has deployed IBM’s cloud development platform, Bluemix. It will assist the bank to develop new banking products and services for its 1.6 million customers, says Stella Thredgold, the bank’s business enablement exec. “The way our customers engage with us and the service they need is changing, […]
Flexibility and transparency are key to the first pan-European instant payments scheme, states Javier Santamaria, chairman of the European Payments Council (EPC). Currently, instant payments in Europe operate only within the borders of individual countries or among customers of the same payment service providers (PSPs). To move away from this fragmentation, the EPC was invited […]
Berlin-based fintech incubator FinLeap and solarisBank have created the first global banking platform, called Solaris – a Banking-as-a-Platform (BaaP) service. What is it all about and how is it going to make its mark on the fintech industry? Devie Mohan interviews FinLeap’s co-founder, Ramin Niroumand. The solarisBank launch has been in the press quite a […]
While industry observers think Apple Pay adoption hasn’t yet hit a critical mass, the mass it has hit (with 1 million more users added each week) makes it a substantial alternative to the use of contactless payment cards. But more importantly, it’s what’s still to come from Apple that retailers (and others vying for mobile wallet share) can’t afford to ignore.
Tapping into the IoT trend requires financial services providers to consider the use case for each device and make sure the information and capabilities are relevant. Irrelevant information will at best be ignored and at worst lead consumers to disengage.
Samsung Pay has launched in Australia, enabling mobile payments for consumers, but the hardware maker wants its mobile wallet to encompass much more, including gift cards, loyalty and transit.
Apple is about to make it easier for its users to shop online, and the move will put Apple Pay in direct competition with PayPal, Amazon and the networks’ online payments services for the loyalties of online shoppers.
It’s a bird. It’s a plane. No, it’s Supercard, a MasterCard prepaid card and accompanying mobile app catering to U.K. consumers traveling abroad. Supercard, developed by Wirecard AG and Travelex, enables travelers to earn rewards on the cards they want—except for American Express cards—without paying the typical international transaction fees.
Earthport, a cross-border payments service provider, has inked a deal with Commercial Bank of Ceylon to provide local payment capability into Sri Lanka. The deal is part of Earthport’s Asian expansion strategy, with similar money transfer partnerships already secured in Pakistan and India. Sajeev Viswanathan, president, global strategy at Earthport, says the tie-up with Commercial […]
Visa Europe and its innovation hub, Visa Europe Collab, have teamed up with visual discovery and augmented reality app Blippar to bring augmented reality to payments. The new e-commerce solution, unveiled at a recent fashion show in London, enables designer garments to be instantly purchased straight off the backs of models. The pilot fashion brand […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Goldman Sachs to underpin new digital bank with Infosys tech It’ll be the e-Finacle digital banking platform, Banking Technology understands. Infographics: The Euro 2016 guide to e-commerce In the spirit of that football tournament that starts today, we’ve got an e-commerce […]
MCX, led by a consortium of large retailers such as Walmart, Target and Best Buy, has announced it’s ending the beta test of its mobile payments service CurrentC, and accounts will be deactivated June 28.
Four of the UK’s biggest high street banks have signed up to launch Zapp’s “Pay by Bank app” mobile payment service. Bank of Scotland, Barclays, Halifax and Lloyds Bank are working with Zapp, VocaLink’s payments innovation team, to deliver the service. David Yates, CEO VocaLink, says the gang of four join a “growing number of […]
Not all Olympic athletes will be coming home from the Rio 2016 Olympic and Paralympic Games with medals around their necks, but they’ll be coming home with rings on their fingers. The first contactless payments ring linked to a Visa-branded GPR account will be given to approximately 45 athletes that are part of Team Visa.
Ride-hailing service Uber has expanded a pilot partnership with Green Dot to all markets in which Uber operates in the U.S.
With two thirds of people now owning a smartphone in the UK, demand is high amongst consumers to have connectivity at their fingertips. Add to this the fact that 39% of adults have at least one banking-based app, and it presents a real opportunity for banks to serve engaging content to the many consumers who are […]
Nets and Istituto Centrale delle Banche Popolari Italiane (ICBPI) have joined forces to launch an instant payments solution in Italy. The new offering is set to go live in Q1 next year. It will be based on Nets’ RealTime24/7 platform and will serve the Italian payment service providers (PSPs). “We will provide to the Italian […]
We’ve been hearing a lot about the demise of MCX since it announced yet another launch delay of its CurrentC app to focus on deals with financial institutions. While this move is clearly a pivot for MCX, it’s way too early to call the organization dead. In fact, we should be calling MCX a roaring success.
Nucleus Software has released its mobile loan self-sourcing solution – mApply – for the Australian market. The firm says mApply helps banks digitise their loan origination lifecycle. Customers and mortgage brokers can view pre-approved loan offers from a bank, select the best offer and submit a paperless loan application “within minutes” and “without any need […]
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
For card manufacturers like CPI Card Group, the U.S. transition to EMV continues to be a top priority. But broader trends like the rise of e-commerce and wearables also are shaping a business that goes well beyond plastic.
The U.S. Postal Service (USPS), striving to overcome inefficiencies and profitability that’s historically been much more often in the red than in the black, is exploring the use of blockchain technology to improve current services, provide new services and improve operations.
Consumer fraud concerns and the popularity of mobile messaging apps likely will secure prepaid a firm spot in future commerce, according to Martin Koderisch, a manager at Edgar, Dunn and Company (EDC) during a recent Webinar entitled “Prepaid Payments in the Digital Age.”
PayPal will shut down its business in Turkey on June 6 after regulators there denied the online payment processing service a new license.
Standard Chartered is bringing its mobile and online banking platform to eight countries in Africa. After the roll-out to Botswana, Ghana, Kenya, Nigeria, Tanzania, Uganda, Zambia and Zimbabwe in the first half of 2016, the bank will launch fingerprint recognition technology in these markets later in the year. Karen Fawcett, Standard Chartered’s CEO for retail […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Swift hacks sees 12 more banks under attack A fast moving chain of events. High five for Apple Pay in Singapore Big banks onboard include OCBC and Standard Chartered. NYSE launches new trading tech platform, NYSE Pillar The […]
Santander says it is the “first” UK bank to introduce blockchain for international payments through a new app. It is currently being rolled out as a staff pilot, with the intention to expand the technology “at a later date”. Sigga Sigurdardottir, head of customer and innovation at Santander, says: “The need for finance has evolved […]
Wells Fargo will launch its mobile wallet this summer, giving consumers using Android devices a new way to pay with their Wells Fargo debit and credit cards.
A new stage of interactive banking is here. Santander recently announced a new app that will let consumers speak to their phone about their spending habits. Lloyds announced a video interview mortgage service, allowing customers to apply without setting foot in a branch. And HSBC released an app which replaces a pin number for voice biometrics. This […]
Apple Pay support is expanding beyond American Express to Visa and MasterCard credit and debit cards from five of Singapore’s major banks. The big banks include POSB, DBS, OCBC, Standard Chartered and UOB. This latest deal is a significant development for Apple as it now has more than 80% of the Visa and MasterCard credit […]
The robot, called Pepper, represents only one emerging payment method that seems to be inspired by science fiction.
Consumers with bank accounts are four times more likely to use mobile apps from their primary financial institutions than from other sources, according to an FIS survey.
The Curve card functions as a prepaid MasterCard, which acts as a conduit for payment from the chosen card. A companion mobile app provides account management, transaction history and other functions.
Data provisions for access to accounts in the PSD2 likely will spark the launch of new payment and fintech firms to handle the new data demands from consumers and to create new products, according to presenters.
Vietnam’s mid-tier banking player, Vietnam Prosperity Bank (VPBank), has implemented a new digital solution, SAP’s Omnichannel Digital Platform. Omnichannel Digital Platform stems from the Sybase 360 product that came SAP’s way with the acquisition of Sybase in 2010. The new solution was deployed in one year at VPBank, with online and mobile components for retail […]
Bangkok Bank has launched new mobile banking functionality, based on Fiserv’s Mobiliti Edge mobile banking and payments platform. The bank’s mobile solution is known as Bualuang mBanking. It enables Bangkok Bank’s customers to access financial services via a mobile phone, tablet or the Apple Watch. Fiserv and Bangkok Bank have been working together for a […]
With excitement often comes confusion, and that was true Tuesday at the Shoptalk conference in Las Vegas, where executives offered an optimistic view of the future of commerce and payments, albeit a vision that carried more than a bit of uncertainty.
At Shoptalk in Las Vegas this week, young companies showcased their contributions to the evolution of commerce and experts discussed how retailers and payments providers can attract the coveted millennial shopper.
