Digital


Kid me not fraud with GoHenry digital deal

GoHenry, a UK-based digital banking solution to help young people manage their money, has appointed fraud prevention firm Featurespace to safeguard customers’ accounts. GoHenry was founded by a group of parents to help young people aged six to 18 “learn good money habits”. It is a subscription service, which offers a prepaid debit card and […]

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 […]

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.

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 […]

PayPal’s TIO Offer Wins Shareholder Approval

PayPal’s bid to acquire Vancouver-based bill payment specialist TIO Networks has been approved by TIO shareholders, who overwhelmingly voted in favor of the proposed sale at a special meeting this week.

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.

DeVere delves deeper into fintech space with e-money app launch

Financial consultancy firm DeVere Group has launched an app-only e-money service as it pushes deeper into the banking and fintech sector. As Banking Technology reported last month, the group took advantage of Lithuania’s ambitions to attract fintech firms and set up a new office in the capital Vilnius. This was preceded by the unveiling of […]

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.

Tackling cybercrime: why the industry must unite

Cyberattacks have been dominating newspaper headlines for some time now. Whether it’s losing access to PayPal, a distributed denial of service attack on Lloyds Group, or Tesco Bank customers losing £2.5 million to hackers, the threat of a cyberattack in 2017 is so great that it’s not a case of if, but when one occurs.

Western Union App Integrates Apple Pay

Facing increased competition from mobile P2P services, money transfer giant Western Union has made a move to bolster its own mobile offerings. U.S.-based users of Western Union’s mobile app now can use Apple Pay to send money from within the app domestically, or to more than 200 countries and territories.

R3, HQLAX and five banks build collateral lending solution on blockchain

Distributed ledger technology (DLT) consortium R3, together with five of its members and financial resource management specialist HQLAX have built a collateral lending solution for liquidity transfers. The solution is based on R3’s flagship platform, Corda, and is “an operating model for a digital collateral receipt (DCR) lending marketplace”.

Protecting porous perimeters via identity access management

With the growth of “mobile working” and an increasing number of business applications migrating to the cloud, the corporate perimeter has become more porous and vulnerable, driving demand for solutions that manage access and user identities securely and efficiently. This is where identity access management (IAM) technologies come into play. ING’s Sicco Boomsma explores.

Banking Technology April 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.

Fintech funding round-up: 31 March 2017

Lighter and brighter – catch up with fintech funding news in our brief round-up. Features Monzo, Quint and Lidya. Mobile-only challenger bank Monzo has raised another £2.5 million from more than 6,000 investors – the highest-ever number of any Crowdcube campaign. This follows its crowdfunding record of £1 million round last year, which closed in […]

Mastercard launches safer payments guide for children

Child & Youth Finance International (CYFI) and Mastercard have released a guide on banking and payment products for minors. The “Safer Payment Products for Minors” guide offers recommended practices on how financial service providers (FSPs) can develop age-appropriate payment products for minors; promoting responsible spending and financial decision-making. Walt Macnee, vice-chairman Mastercard, says: “Today’s minors […]

HSBC gets swift on Tradeshift capital financing platform

HSBC and business commerce firm Tradeshift have partnered to offer a supply chain and working capital management platform – usable from any device. The platform will let buyers automate and digitise “paper-heavy” processes from all their suppliers and organise financing in one place. This “game-changing” (sounds familiar) solution will combine electronic ordering and invoices, document […]

Mastercard buys NuData Security for IoT spree

Mastercard will acquire Vancouver-based biometrics firm NuData Security as it looks to make something out of the internet of things (IoT). NuData provides online and mobile anti-fraud solutions using session and biometric indicators. Mastercard will integrate NuData to its suite of fraud management and security products. Ajay Bhalla, president of enterprise risk and security for […]

Fintech funding round-up: 28 March 2017

Enjoy a word-lite delight with our brief fintech funding round-up. Features Clarity Money, The Glue and OOjiBO. US-based Clarity Money, a personal finance app, has announced a $11 million Series B funding round led by RRE Ventures and Citi Ventures. This financing comes three months after Clarity Money launched its product and eight months after […]

Samsung makes your wedding ring a payments plaything

Samsung, Smartlink and Ingenico have unveiled their “contactless companion platform” (CCP) to let people pay for things using anything they’re wearing — such as a watch or a wedding ring. It has been built with a dual interface smart card chip for multiple applications and form factors. Users tap the wearable on an NFC card […]

Tug of love turns to group hug for banks and fintechs

With the EU’s Second Payment Services Directive (PSD2) and open architecture framework set to come into force next year, regulation may well tip the scales between banks and fintechs for customer loyalty, according to a new report conducted for Temenos by the Economist Intelligence Unit. In the 36-page study, “Symbiosis: Your bank has your trust. […]

Samsung moves on Siri with Bixby AI

Watch out Siri and Alexa, Samsung has unveiled its own artificial intelligence (AI) solution called Bixby. This will be a new interface on Samsung’s devices – with the imminent Galaxy S8 getting it first – and when an application becomes Bixby-enabled, it will be able to support “almost every task” that the application is capable […]

IBM Cloud comes to China

Wanda Internet Technology and IBM have signed an agreement for the former to enter the public cloud business in China. This will be done via a new firm – Wanda Cloud Company – built on the IBM Cloud Platform.