Infographic: 20 top use-cases of the SCT Inst scheme
A bounty of users? The European Payments Council (EPC) has created a nifty infographic that covers the SEPA Instant Credit Transfer scheme.
Payments
Blockchain and Bitcoin round-up: 15 November 2017
Following on from yesterday’s (14 November) news, here’s our latest blockchain and Bitcoin round-up. Featuring Trustology, Accenture, Monetary Authority of Singapore, Association of Banks in Singapore, Square and London Block Exchange. Another day, another new firm. Trustology has emerged from stealth and revealed it is building a peer-to-peer network of smart contract compute services. Trusted […]
Boku to raise $60m ahead of London IPO
Carrier billing company Boku plans to go public on the London Stock Exchange’s alternative investment market (AIM), an international market for smaller growing companies, reports Julie Muhn at Finovate (Banking Technology’s sister company). Ahead of next week’s public debut, the company announced it expects to raise $60 million on a post-money valuation of $164 million. Of the […]
E-book: How Digital Lenders Can Win the Fight Against Fraud
Ready for the truth about fighting fraud? It’s not as futile as you might think. Yes, fraud is hitting digital lenders of all sizes… Pretty sizably. But recent research shows that with the right approach, it is possible to stop the bad guys and stem the losses—without slowing opportunity.
Rambus partners with Eftpos for Android Pay in Australia
Eftpos, the Australian domestic debit network, is using Rambus’ token service provider (TSP) technology to digitise payment cards to support Android Pay. Rambus says TSP enables Eftpos to maintain consumer data securely through tokenisation, which allows the replacement of sensitive data with unique reference numbers so information is not compromised. In turn, Android Pay lets […]
The Clearing House makes history with new US payments system
The Clearing House (TCH) has launched its 24×7 real-time payments (RTP) system, the first new core payments infrastructure in the US in more than 40 years. RTP was designed and built through the “collaborative effort” of TCH’s 25 owner banks and meets the objectives of the Federal Reserve Faster Payments Task Force. RTP is open […]
Standard Chartered unveils chatty banking chatbot
Standard Chartered plans to deploy a chatbot on its online and mobile banking platforms powered by Kasisto’s conversational artificial intelligence (AI) platform, KAI Banking. The chatbot will act as a virtual personal assistant to help clients manage money, make payments and analyse their spending, via conversations in English and other unnamed languages. The service will […]
Myanmar gets first corporate credit card
A trio of financial organisations have launched the AYA Universal Corporate MPU-JCB co-branded card in Myanmar – the nation’s first corporate credit card targeted for business payment use. Ayeyarwady Bank (AYA Bank), Myanmar Payment Union (MPU) and JCB International (JCBI), the international operations subsidiary of JCB, have teamed up for the new card which has […]
Why mobile wallet acceptance is key to retail growth
A young woman has made plans to join a friend for dinner at a restaurant across town, and with a few clicks on a mobile device she sets her night in motion. Her go-to ride-sharing service has sent a car, she’s ordered a cappuccino from her favorite coffee shop – this one is free because she’s a loyalty member – and her social app pings her friend to let him know her ETA.
Top tier US bank in cash management tech revamp with Temenos and Finastra
EXCLUSIVE: A top tier US-based bank is modernising its global cash management ops with technology from Temenos and Finastra (formerly D+H Corporation).
Token and Envestnet | Yodlee team up for open banking
Open banking platform provider Token has partnered with Envestnet | Yodlee, a data analytics platform, for payments and financial data aggregation. The partnership will use Token’s operating system, TokenOS, which offers PSD2 compliant payments and gives access to banks for third-party service providers, via an API. In addition, the deal will use Envestnet | Yodlee’s […]
Crime moves upmarket as fraud becomes UK’s number 1 offence
New research from Experian claims fraud is now the UK’s most common criminal offence, much to the dismay of thugs and hoodlums everywhere, reports Telecoms.com (Banking Technology‘s sister publication). The company’s Annual Fraud Indicator 2017 estimates the annual cost of fraud in the UK is £190 billion, exceeding the total gross domestic product of 148 […]
ACI powers Malaysia’s real-time payments network plan
Payments Network Malaysia (PayNet), the national financial market infrastructure provider, will build Malaysia’s real-time retail payments platform (RPP) using ACI Worldwide’s UP Immediate Payments solution. RPP is an initiative to modernise the country’s infrastructure to all participants in the ecosystem, including banks, institutions, businesses, consumers and the government. PayNet resulted from the merger of Bank […]
Barclays in Flux for instant digital receipts
Barclays is trialling itemised digital receipts to its customers via a partnership with start-up Flux, a rewards and receipt platform. The upcoming trial will take place with around 10,000 users of the Barclays Launchpad app, its platform for testing new features with “real customers to learn more about how best to meet their needs”. Matty […]
Mastercard, Bank Asia and a2i team for financial inclusion in Bangladesh
Access to Information (a2i, an innovation lab supported by the Bangladeshi government), Bank Asia and Mastercard have signed a tripartite memorandum of understanding (MoU) to facilitate financial inclusion in Bangladesh by making digital payment services accessible countrywide through the Union Digital Centres (UDCs).
Cheddar on mission to help software developers monetise faster
It’s a tale as old as tech start-ups – a software developer creates a new app and is convinced it will take the world by storm. The only problem? No idea how to monetise the brilliant creation. Xconomy (Banking Technology‘s sister publication) reports that a US fintech start-up based in Bloomington, Indiana, called Cheddar aims […]
Top fintech stories this week – 10 November 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Blockchain and Bitcoin round-up: 9 November 2017
Whether it’s AI to bridge cryptocurrencies or someone accidentally losing it, something is always going on, whether right or wrong in the world of blockchain and Bitcoin. Our latest round-up features Parity, AiX, R3 and SIA.
Payments round-up: 9 November 2017
We got a trilogy folks. Following the payments round-ups on 8 November and 7 November, here’s more paytech action. Features PayPal, NCR, Samsung, Scotiabank, Mastercard and Eftpos. It’s been offering cross-border payments in India for a decade, but PayPal has now launched domestic operations in the country as it looks to take on Paytm and […]
Over-regulation and career politicians could spell disaster for tech
Government intervention has been a hot topic all week at AfricaCom, and it doesn’t seem like there is going to be a resolution to the problem anytime soon, reports Telecoms.com (Banking Technology‘s sister publication). Of course there will always be a need to regulate any industry; commercial entities should not be left by themselves, they […]
UK banks join the iPhone X Face ID rush
Customers of TSB and Tesco Bank are now able to use facial recognition technology, Face ID, for mobile banking app and make payments. The new technology is exclusive to Apple’s iPhone X. Carlos Abarca, TSB’s chief information officer, says: “Providing customers with biometrics logon to their mobile banking, such as Face ID, means all of […]
Mobey Day Barcelona: disruption, money and forward thinking
This year’s Mobey Day continues with the consistent collaboration between banks, start-ups and fintechs. Focusing on the development of technology during a time of disruption, the biggest players drew attention to leading in future challenges and trends.
UK start-up secures inevitable Hollywood movie sequel
With unerring predictability, the Hollywood movie machine has churned out a sequel for the energetic and eventful life story of a UK-based payments start-up. As reported in May, the rise of Charon Ferries, the creation of the husband and wife team of Michelle and Mark Morrison (who have defied all known laws of the universe […]
Payments round-up: 8 November 2017
Just yesterday (7 November) was a payments round-up, but here’s more action from the lively paytech place. Features Apple, Coinsilium Group, UMT United Mobility Technology, Visa and even the Olympic Winter Games. Apple, which is rarely out of the news, has set up Apple Pay Cash for person-to-person (P2P) payments in Messages. This feature is […]
Finastra gains new digital banking tech project in Libya
Libya-based Bank of Commerce and Development (BCD) has signed for Finastra’s front-end software to launch a new online and mobile banking platform.
ICICI Bank sets the tone for voice-based payments in India
ICICI Bank has unveiled India’s first voice-based international remittance service to enable non-resident Indians (NRIs) to send money to any bank in the country. With the new feature in its Money2India (M2I) app, an NRI customer can make a remittance to existing payees in India with a voice command to Apple’s virtual voice assistant, Siri. […]
Payments round-up: 8 November 2017
A distinctly European feel in the latest payments round-up by Banking Technology (Paybefore’s sister publication). Stars Facebook Messenger, the UK’s Payment Systems Regulator, Concardis and AliPay.
Biometrics: a question of standards and yet more questions
Watching the recent of smartphone launches, I am taken aback by just how much smartphone manufacturers have led to the normalisation and acceptance of biometrics by consumers.
Payments round-up: 7 November 2017
A distinctly European feel in our latest payments round-up. Stars Facebook Messenger, the UK’s Payment Systems Regulator, Concardis and AliPay. The UK will be the first country outside the US to get the Facebook Messenger payments service. Messenger was launched in the US in 2015 and lets people transfer cash during any conversation within the […]
Sunlight Payments to “revolutionise” distribution for global philanthropic sector
Sunlight Payments, a US-based paytech start-up, says it has “successfully tested a new platform to enhance controls and accountability for philanthropic funding and grants”. The test was carried out with Pathfinder International, a women’s reproductive health non-governmental organisation (NGO) that works in 19 countries.
Starling Bank bolts to Yolt money app
Yolt, the money app backed by ING, has integrated with its first digital challenger bank, Starling Bank. Yolt says its aggregation functionality now enables Yolt users to view their Starling Bank account details and transactions alongside their other bank accounts, together in one place. Since launching in June 2017, Yolt states that its users have […]
Why blockchain won’t fix payments
There is a misconception about blockchain in the industry surrounding the belief that it is a solution to making faster and securer payments. There are some issues around the blockchain that explain why, in its present form, it isn’t an ideal replacement.
Deutsche Bank goes live with Swift’s gpi
Deutsche Bank has gone live on Swift’s global payments innovation (gpi) EUR services as it looks to increase transparency and speed in cross-border payments. Swift’s gpi offers real-time tracking of payments and same day use of funds for corporate clients. Deutsche Bank says it is one of the first banks globally to go live via […]
Wirecard provides paytech to Orange Bank
France’s latest mobile bank, Orange Bank, is getting its mobile payment and banking services underpinned by Wirecard. The paytech vendor says it is providing “all the technical components integrated into the Orange Bank platform to manage their mobile payments”.
OCBC Bank first in Singapore to launch face ID recognition for mobile app
OCBC Bank’s retail and business banking customers can now log into the bank’s app via a selfie, if they use Apple iPhone X. The bank says it’s the first in Singapore to offer such biometric tech.
Mastercard, Bank Asia and a2i team for financial inclusion in Bangladesh
Access to Information (a2i, an innovation lab supported by the Bangladeshi government), Bank Asia and Mastercard have signed a tripartite memorandum of understanding (MoU) to facilitate financial inclusion in Bangladesh by making digital payment services accessible countrywide through the Union Digital Centres (UDCs).
Wells Fargo unveils Greenhouse effect with money management app
Wells Fargo has unleashed Greenhouse, a new standalone mobile banking app to help consumers manage their money and know where they stand financially. The app combines personal finance management (PFM) tools with Wells Fargo banking, offering “personalised” insights through artificial intelligence (AI). The bank says Greenhouse will be available in a limited, national pilot in […]
Revolut to bring processing in-house
Revolut is building its own in-house processor, following a string of outages caused by its current third party provider.
German mobile challenger bank N26 expands to UK
Germany-based mobile challenger bank N26 will enter the UK market in the first half of 2018. According to N26, the UK is “one of the most advanced markets” in Europe in terms of digital payment methods. It says “non-cash payments and e-commerce are the accepted norm” and reckons there is a demand for a “fully-fledged […]
Personetics leverages AI to help chip away at student loan crisis
Cognitive analytics company Personetics has launched Personetics Act to offer banks a way to help customers repay their student loans ahead of schedule.
