Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Tier 1 US bank live with Temenos core and payments software Part of its American dream. Swift reveals more cyber thefts Private letter goes public. PhonePe and Yes Bank unveil India’s “first” UPI-based payments app Unified Payments Interface […]
“Silicon Valley is coming,” warned Jamie Dimon, JPMorgan Chase’s boss, in a recent letter to shareholders. It’s a sentiment echoed across much of the banking world at the moment. The idea that fintech is a threat to the financial services sector is bubbling – a 2015 PwC survey found 83% of financial services professionals were […]
Global payments provider Worldpay has teamed up with Consult Hyperion, MongoDB and Visa Europe Collab to host its first internet of things (IoT) hackathon in London in September. The event aims to foster innovation and encourage participants to apply technology to integrating payments. Two themes will flow through the 48-hour hackathon – the “Smart City” […]
Digital banking software specialist Backbase has teamed with Entersekt to use its authentication capabilities on the Backbase Open Banking Marketplace. Backbase will offer banks push-based authentication and transaction signing integrated in its omni-channel digital banking platform. Its clients can select the authentication solution that “best meets their needs”. Dewald Nolte, Entersekt’s SVP partners and alliances, […]
It’s no secret that the financial services industry has tended to lag behind when it comes to adopting digital technology. Far from being leaders of innovation, banks are often stifled by lumbering IT systems and an inherent sense of caution when it comes to challenging the status-quo. With growing investment in the internet of things […]
In the course of a recent active business day I observed myself carrying a multitude of financial instruments. I had to make a payment from my business checking account to a local government agency and I was reluctant to use my business debit card. Should I have chosen my credit card the agency charged an […]
Today, most banks want to be digital leaders because that is where the customers are! This has brought in a change in the attitude of many traditional banks. Arun S. Padaki, a seasoned corporate banker, credit risk and business process management consultant, explores what it takes to become a digital leader and who is already […]
Nykredit, Denmark’s largest mortgage provider, has invested in a minority stake in a new mobile banking service, Lunar Way, and has become its banking partner. In two months’ time Nykredit will replace Københavns Andelskasse (Copenhagen Cooperative Bank), the start-up’s initial banking partner. Mark Dissing Bækgaard, head of marketing and communications at Lunar Way, tells Banking […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Apple bites back over Australian banks’ “cartel” Don’t team up on them. Thieves steal $72m from Hong Kong Bitcoin exchange Now looking for new funding to compensate its customers. UK challenger Mondo gets banking licence It also needs […]
Prasac, the largest microfinance institution (MFI) in Cambodia, has launched internet and mobile banking services using the TranzWare multi-card processing solution from Compass Plus. Its customers can now transfer money between their accounts, pay bills, top-up their mobile phones, manage their cards, check their balances and get a mini-statement by logging on to their internet […]
Banking is going digital and instantaneous, which is great news for customers. But it is also a great headache for banks, as fraud is going that way too – the money can disappear into fraudsters’ virtual pockets with a blink of an eye, anytime, anywhere. At the same time, the real-time capabilities of new solutions […]
Azimo says it has become the first money transfer operator to enable money transfers worldwide via Facebook Messenger. “Money transfer is now social,” Azimo states. It describes its new functionality as “revolutionary”. It connects senders and receivers through their Facebook friend list, enabling them to exchange details immediately and links them to the Azimo app […]
ING Bank Romania has launched a new mobile point-of-sale (mPOS) service, underpinned by MasterCard and specialist vendor GoSwiff. ING mPOS is aimed at local merchants of all sizes. It enables them to accept card payments through mobile devices, smartphones and tablets, connected to a card reader. It also supports other added-value services, such as consumer […]
Indonesian telco Indosat Ooredoo and GoSwiff International have teamed up for a new mobile payment acceptance solution for merchants in Indonesia, D-Pay. Bank Negara Indonesia (BNI) is the acquiring bank. D-Pay is a financial service that enables merchants to accept mobile payments, allowing their customers to pay using debit/credit cards (Visa, MasterCard and JCB) and […]
Unicredit is selling its e-money processing unit to payments vendor SIA. The unit – part of Unicredit Business Integrated Solutions (UBIS) – processes around 13.5 million payment cards and manages 206,000 POS terminals and 12,000 ATMs in Italy, Germany and Austria. SIA has also got a ten-year outsourcing contract from UBIS for the supply of […]
Can social media really drive adoption of financial products? Yes, states a Massachusetts-based community bank, Avidia Bank. Kate Cwieka, Avidia’s marketing specialist, shares the bank’s experience in embracing social media and the results. Oh, and practical advice on this “non-traditional” marketing channel. Want to know more on how to apply Hootsuite and Periscope (or find […]
Sid Parashar, SVP of client relations and strategic account management, Firstsource Solutions, asks if traditional banks are now ready to take on the new kids on the block when it comes to customer communications. As the banking industry emerges from one of the most transformative periods in its history, it has been a trying time […]
Years of friction could be over as PayPal is talking to MasterCard on a potential strategic alliance, according to the Financial Times. PayPal, with its network of 188 million active users, has been expanding at MasterCard’s and Visa’s expense. One example was its recent partnership with Mexican telecommunications giant América Móvil for growth in Latin […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Abcul slow on tech modernisation project Exclusive: First credit unions to go live before year-end. New mobile banking for SMEs readies for UK launch Tide will offer a “nimble small business current account”. Top ten retail banking sites […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! BBA records dramatic increase in mobile banking usage Digital banking is in a “consumer-led revolution”. MasterCard buys VocaLink for $920 million Current owners Barclays, HSBC, Lloyds and RBS will receive a handy windfall. Cidel Bank implementing ERI’S Olympic […]
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
BMO Bank of Montreal has introduced a new service that allows customers to open an account using their smartphone, without having to go to a branch or download an app. The bank says this “first-of-its-kind account opening capability” allows customers to search, select and open a new account with BMO “in minutes”. Niti Badarinath, head […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Swift seeks stronger network security Strikes back after hacks. IBM to open blockchain innovation centre in Singapore Big Blue stays true to blockchain. Starling Bank gets UK banking licence Aims to launch to customers by January 2017. Unibank […]
According to new research from Visa, consumers across Europe are interested in using biometrics when making a payment – especially when integrated with other security measures. About 73% of the 14,000 European consumers surveyed see two-factor authentication, where a biometric is used in conjunction with a payment device, as a secure way to confirm an […]
Samsung Electronics is bringing Samsung Pay to Puerto Rico. Samsung Pay will support eligible credit cards from Banco Popular, Puerto Rico’s largest bank, and will be available on AT&T, T-Mobile, Sprint and Claro networks in Puerto Rico. The firm says Samsung Pay is the “only” mobile wallet that allows users to pay with their compatible […]
EMVCo, the global payment specification body, and the FIDO Alliance, an industry consortium developing open, interoperable authentication standards, are to collaborate and review how FIDO can support EMV (Europay, MasterCard and Visa) payment use cases. A “key aim” of the initiative is to investigate mobile payments using on-device authenticators, such as biometrics, as they seek […]
Ewan MacLeod is heading to Nordea as co-head of its newly created “Group Digital” unit and is on the lookout for fintech companies, services and ideas to introduce to Nordea. MacLeod will be one of two chief digital officers at the Nordic banking group. The other one is Poul Raaholt, previously head of group IT […]
JP Morgan has launched In-Residence, a new programme for fintech start-ups to use its facilities, systems and expertise. The company says it is inviting start-ups to sit “side by side” with its businesses to develop innovations that could “revolutionise” the sector. Sanoke Viswanathan, chief administrative officer of JP Morgan’s Corporate & Investment Bank, says this […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Brexit threat to UK jobs at Visa Should I stay or should I go? Swift hackers steal $10m from Ukraine bank Massive attack. New challenger bank readies for launch in UK Atten-shun! UK military personnel, veterans and their […]
Symitar, a credit union software subsidiary of Jack Henry, has teamed up with a think tank, BIG, for an initiative called Financial Innovations Voice Experience (FIVE). FIVE explores the possibilities that voice-based personal assistants such as Amazon’s Echo and Microsoft’s Cortana can bring to banking. Symitar’s Episys core processing system is being integrated with these […]
Challenger banks have turned their attention to artificial intelligence (AI) as they seek to provide a more personalised approach to banking. German digital bank Number26 has launched Pulse26, a new app that uses AI to provide updates based on the customer’s personal banking history. Number26 says the more a customer uses their account, the “more […]
Banco CTT, a new bank recently launched by CTT Correios de Portugal, the Portuguese post office, has developed a new customer onboarding platform. The platform promises to complete the opening of a new account at Banco CTT in just 20 minutes online. It has been developed together with a local software specialist, Novabase. It is […]
Fiserv has launched Notifi, a platform for the delivery of real-time alerts for retail and SME bank customers. Home Federal Bank and C&F Bank are among the first takers. The solution consolidates information from across a financial institution’s systems – including core account processing, online banking and mobile banking, lending software, debit and credit cards […]
During the two-day MoneyConf event in Madrid, there was an exclusive Banking Technology interview with Matteo Cassina, member of the global executive committee at Saxo Bank. Deputy editor Antony Peyton spoke to him about his opinions on the show and the industry. In terms of MoneyConf 2016, Cassina says: “I do believe there are a […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Visa Inc completes acquisition of Visa Europe Together again. Virgin Money UK in new banking software search Another one of Branson’s ventures. BIL embarks on major technology overhaul with Temenos Second time lucky? MoneyConf 2016: Woe to the […]
Digital technology is increasingly seen as the key to transforming banking into a customer-focused industry befitting the modern age, and a new role of chief digital officer (CDO) has evolved to help implement this change. However, although many banks have used IT to build more customer-friendly interfaces on apps and websites, there is scope to […]
Jiffy – the instant mobile payments service developed by SIA – is coming to Italian stores. The person-to-business (P2B) project is piloted in Milan and Bergamo, allowing customers to pay via app at participating retail outlets authorised by UBI Banca. SIA says that “other major Italian banks have expressed interest in offering P2B the service […]
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 […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! UniCredit and Open Bank Project launch fintech start-up competition Top prize is €50,000 and a contract to work with UniCredit. BBA to merge with three trade associations to create major industry body British Bankers Association (BBA), Council of […]
SDC has signed a deal with Signicat for the latter’s cloud-based eID digital signing solution to be rolled out by SDC’s banking clients in Denmark, Norway, Sweden and the Faroe Islands. SDC supplies financial technology and data processing services to 120+ banks in Scandinavia. Signicat, the first and largest identity assurance provider in the world, […]
