Uber takes SoftBank investment and drives changes
Uber is to accept an investment of up to $1.25 billion from Japan’s SoftBank and usher in new governance rules aimed at reining in former CEO and co-founder Travis Kalanick.
Payments
UK’s New Payment System Operator appoints board
Following the recent appointment of CEO Paul Horlock, the UK’s new payment system operator has named its first five board members.
Spafinder Improves Gifting Options ahead of Holidays
Spafinder, a marketing, gifting, incentives and rewards brand owned by Blackhawk Network, has unveiled new gift card technology, expanded distribution and additional partner services to make giving the gift of spa and beauty experiences easier for consumers and businesses.
Barclays US Tests Personal Finance Tool
Barclays US is dipping its toe into the financial health business, testing a personal financial management tool that aggregates all of a customer’s Barclays credit cards, personal loans and savings products—as well as accounts with other banks—in one place.
Starling Bank Expands with Business Accounts
The competition to serve the financial needs of small businesses is heating up in the U.K., where consumer banking challenger Starling Bank is expanding into the business market,
Snapsheet, KeyBank Launch Virtual Insurance Payouts
Snapsheet, a provider of virtual claims technology for the insurance marketplace, is partnering with KeyBank, a top 30 U.S. bank by assets, to launch an electronic payment solution for insurance claims.
What does the new iPhone X mean for mobile banking?
Mobile banking is nothing without mobiles, and as Apple leads the way in innovation it provides opportunities for banks to do things differently too. So, with the launch of the iPhone X, what is next for mobile banking in a world that can’t get enough of phone upgrades?
Evry in five-year, $18.7m card deal with Aktia Bank
Norway-based banking tech vendor Evry will provide Finland’s Aktia Bank with the “entire value chain for card payments”, including virtual debit and credit cards for the bank’s digital proposition, Aktia Wallet.
Telegram becomes the BotFather of Sberbank’s payments
News comes from Russia with love as Sberbank, the country’s largest bank, and Telegram, a messenger API, have partnered up to develop a payment solution for firms using Telegram bots.
A blockchain smartphone – the future of devices or a buzzword parasite?
Sirin Labs is a recognisable name if you know where to look. Last year, it brought you a £11,400 smartphone with “military grade” security, and now it wants to bring you a blockchain smartphone called Finney.
Wirecard Gives boon a Boost with Virtual Prepaid, P2P and Overdrafts
Pay Award-winning payments technology company Wirecard is expanding its mobile payment app boon with new features to make it an “all-embracing app in everyday life.”
Curve integrates with Xero to automate expense reports
London-based startup Curve, a mobile app that enables users to spend from all their accounts with one card, is dangling a juicy carrot in front of small business owners and freelancers—it will handle their expense reports.
No excuses from Revolut after server issues
The last 24 hours for payments start-up Revolut haven’t been kind after its services went down due to a server failure. Not only was it painful for the engineers working to ensure the services are back up, but also painful to the customers who at the time couldn’t access their accounts. Revolut CEO, Nikolay Storonsky, […]
As Fintech Ramps Up, Europe’s Banking Regulator Is On the Move
The EBA has to move out of London because of Brexit. With an influx of tech, startups and financial services providers, Ireland is making a case for Dublin.
Bank of the West in major tech modernisation
EXCLUSIVE: Bank of the West, a large regional bank in the US and a subsidiary of BNP Paribas, is embarking on a major tech overhaul with Infosys, it is believed.
Mastercard Wants to Help Issuers Fight Card Fraud Faster after Data Breaches
On the heels of Equifax’s massive data breach that compromised 143 million identities, Mastercard today (Oct. 2) announced the launch of Early Detection System, which alerts banks to high-risk cards and accounts that are exposed in security incidents or data breaches.
Hong Kong regulator’s no phoney for banking plans
The Hong Kong Monetary Authority (HKMA) has unveiled a number of initiatives as it looks to improve the region’s use of payments, APIs and innovation. In a speech delivered during the Annual Banking Conference of the Hong Kong Institute of Bankers, Norman Chan, chief executive of the HKMA, outlined its grand ambitions. Chan says: “The […]
Timex and Barclaycard collaborate to create contactless payment watch
Timex and Barclaycard have partnered in true style to produce a new range of contactless payment watches. The Fairfield Contactless promises to be a perfect fusion of style and smart functionality. Coming in at a retail price of £159, it’s all about the leather bPay embedded strap, which brings wearable technology to the wrist. bPay […]
Chime Pulls in $18 Million, Surpasses 500,000 Bank Accounts
Chime, a mobile banking challenger co-founded by Green Dot and Visa veteran Chris Britt, has raised $18 million in Series B financing, led by global venture fund Cathay Innovation.
Whole Foods Market Reports Breach
On Sept. 28, Whole Foods Market announced it had recently received information regarding unauthorized access of payment card data used at certain venues such as taprooms and table-service restaurants located within some of its stores.
Stockpile raises $30m to boost millennial stock ownership
Millennial-focused brokerage firm Stockpile has pulled in $30 million this week in a Series B funding round led by Fidelity.
Top fintech stories this week – 29 September 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
CFPB Financial Well-Being Report Underscores Industry Opportunity
More than 40 percent of U.S. adults struggle to make ends meet, according to new data from the CFPB. While not great news on its own, the findings could help financial services providers design products directed at improving financial well-being.
CPI Names Scott Scheirman CEO
CPI Card Group, a provider of financial card production and related services, announced the appointment of Scott Scheirman as president and CEO, effective Oct. 5, 2017. He succeeds Steve Montross, who is retiring from the company.
Singapore payments start-up Instarem lands in Lithuania
Singapore-headquartered start-up Instarem has entered the European paytech arena and will now provide international money transfer services from Vilnius in Lithuania. The Bank of Lithuania has issued an approval for the electronic money institution (EMI) licence. As reported last year, the bank, the country’s central bank and regulator, promised to provide preliminary answers to financial […]
Pindrop Releases ‘Next-Gen’ Phoneprinting with Machine-Learning Might
Pindrop, an Atlanta-based voice security and authentication firm, says its latest technology release is improving clarity and accuracy and increasing fraud detection by 20 percent.
Saxo Payments Banking Circle Backs Project International Trade
Saxo Payments Banking Circle, has become the benefactor of an Emerging Payments Association (EPA) project to support the growth of early stage fintech companies around the world.
Alexa Is Making ‘Her’ Presence Known
While Google is doing its impression of a petulant child, storming home from the park with its football tucked under its arm by barring Amazon Echo Show access to YouTube, Amazon has drafted a host of reinforcements for its Alexa offensive.
Rodney C. Adkins Joins PayPal’s Board of Directors
PayPal has welcomed Rodney C. Adkins to its board of directors. Adkins is president of 3RAM Group LLC, a privately held company specializing in capital investments, business consulting services and property management.
Payment Trends: BAI Beacon 2017 Preview
Cut through the noise and examine the payment trends most likely to affect your bottom line.
Wirecard Continues Alipay Push with Merchant Deals
Wirecard has announced two partnerships this week to expand Alipay acceptance in Europe, one with Schustermann & Borenstein and another with Swarovski Crystal Worlds.
CK Hutchison and Ant Financial form JV for Hong Kong payments plan
Conglomerate CK Hutchison and Ant Financial have formed a joint venture (JV) to offer a digital wallet under the AlipayHK brand, with the aim to integrate online and offline payments in Hong Kong. Ant Financial says AlipayHK got over 100,000 active users in the first two weeks after its launch last May. The mobile app […]
Hawk Incentives Launches Mastercard Prepaid Incentive Card for Mobile Wallets
Hawk Incentives, a Blackhawk Network business that provides rewards and incentive solutions, has unveiled a new open-loop Mastercard prepaid card that can be added to major mobile wallets.
SunTec Xelerates its open banking ambitions
SunTec has unveiled its out-of-the-box open banking solution, offering preset configurations and definitions, through its Xelerate billing system. With the rise of open banking, SunTec wants to join the throng looking to prosper in a very competitive and crowded market. The firm says banks can use the layer to get business value from their APIs […]
BBVA analyses urbanites for big data dynamite
BBVA has launched Urban Discovery, an interactive tool open to everyone that analyses the cities of Madrid, Barcelona and Mexico City through the prism of their commercial activity. The bank says the analysis led to the creation of new maps that redraw urban borders and identify the most touristic and residential areas or those where […]
InComm expands transit business
InComm, a prepaid and payments technology company, continues to expand its tolling and transit payments business nationwide with the launch of the RiverLink Starter Kit.
Seylan Bank to swap legacy trade finance tech for Finastra’s Fusionbanking Trade Innovation
Sri Lanka’s Seylan Bank is modernising its trade finance technology with Finastra’s Fusionbanking Trade Innovation system. On the way out is the legacy China Systems’ Eximbills system, Banking Technology understands.
Swych seals Series A funding
Digital gifting platform Swych has closed its Series A round with a “major strategic capital investment” from UAE Exchange Group. The amount of the investment was undisclosed, reports David Penn at Finovate (Banking Technology‘s sister company). “Swych’s global gifting technology and vision fits well with our strategy to foster purpose-based money transfers,” UAE Exchange Group […]
First Tech Credit Union Goes Live with Zelle
First Tech Federal Credit Union announced that the Zelle P2P service is live in its mobile banking app, enabling payments for more than 110,000 First Tech mobile banking members.
Tech dominates Interbrand global rankings
Interbrand has released its rankings of the most valuable brands in the world, and the technology sector has a lot to boast about, occupying six of the top ten spots, reports Telecoms.com (Banking Technology’s sister publication). Every now and then we just need a reminder of how important technology is for today’s society. In previous […]
