Bitcoin is the future, Money2020 delegates told
Bitcoin is here to stay and will continue to grow, according to experts speaking on separate panels at Money2020 in Las Vegas.
Digital
PayPal’s path to success paved with “good ideas and lots of hard work”
PayPal is belatedly paying some attention to design: in its early days, the company didn’t have designers, so the Pay with PayPal button wasn’t very consistent – sellers could tinker with it and even modify the colour. That’s changing, John Muller, vice president and general counsel, told Money 2020.
Money2020: Cybercrime threat will demand application of new defences
Basic security mechanisms in payment and banking systems are poorly applied and are out-gunned by the resources available to cybercriminals, a session at the Money2020 event in Las Vegas was told.
Visa Europe adopts BT’s managed network
Visa Europe’s decision to place its internal and external communications networks into the hands of BT will help the firm to realise economies of scale and offer a more efficient service to customers, according to Chris Pickles, Head of industry initiatives at BT.
Innovation: there is a better way
Innovation in financial services may not generate products quite so world-changing as the inventions of Edison, but the principle of finding better ways to do something does inform most developments.
Retail banking: underwriting the revolution
New technologies are transforming the consumer experience in retailing and in banking. For banks to remain relevant, they need to work with innovators, writes Paul Skeldon
Barclays builds on Pingit head start
Barclays is making a determined effort to capitalise on the two-year lead it has built up with its Pingit mobile payments application with two new applications intended to allow retailers to integrate mobile payments into their services.
Standard Chartered backs mobile wallets
Standard Chartered has launched a mobile wallet service targeted at corporate clients in Kenya. The service has been developed in partnership with Safaricom, which operates the mobile money transfer service M-Pesa. The bank hopes the deal will herald the start of a major drive to open up financial inclusion in emerging markets.
Bricks or clicks? The choice isn’t yours
The challenging ongoing economic climate and the resulting shrinking markets have created an environment of greatly increased competition. In order to deal with the pressures of recession, retail banks are increasingly being forced into a strategic transformation of business structure, culture and practice. How they interact with customers is a prime focus during these transformations, writes Mike Davies, Regional Vice President Sales EMEA North at GMC Software Technology.
Demystifying m-commerce
Payments made via mobile devices are fast becoming de rigueur as tablet sales are expected to overtake personal computers by 2017. Shane Fitzpatrick addresses five common myths about m-commerce and how to capture online revenues. Smartphones are already more popular globally than desktop PCs and of the 1.875 billion phones to be sold in 2013, […]
Interactive Data launches mobile data app
A new trading app has been launched by Interactive Data subsidiary eSignal, which promises to help traders use the iPad to obtain information and market data on the move. A subsidiary of Interactive Data, eSignal is based in California. The firm’s technology is targeted at making it easier for traders to get access to real-time […]
Canada’s Desjardins financial cooperative pushes NFC offering
Canada is seeing a fresh push to promote near field communication (NFC) services after Canadian cooperative financial group Desjardin signed a deal with mobile money solutions provider Monitise and a joint venture with the nation’s three largest mobile operators.
Orange uses Total network to extend money service
Orange and oil and gas group Total have forged a partnership in Africa and the Middle East, providing access to Orange Money services at all Total service stations in the regions, spanning a total of 13 countries to date.
Reducing threats to availability in the banking sector
The financial services sector’s growing interdependence between internet-accessible clearing and transaction processing infrastructure means that a successful DDoS attack can have far reaching consequences, such as customer dissatisfaction and loss of trust, brand damage, increased operating costs and lost revenue to name just a few.
Embrace the internet to determine the future of banking
The impact of the internet on the banking industry may yet turn out to be far more important than the financial crisis and the subsequent regulatory overhaul. Viewing statements on-line and making payments electronically is just the very beginning of the revolution.
Unlocking the mobile wallet
Speakers at the Digital Services Conference hosted by Informa in London on Tuesday expressed frustration at the lack of progress made by mobile wallets in the UK and called for more innovative solutions to bypass the impasse.
Innotribe names New York contenders for Sibos showdown
Innotribe, the Swift-backed initiative to enable collaborative innovation in financial services, has announced the names of the five contenders from the US leg of its annual Startup Challenge to compete at Sibos 2013 in Dubai in September.
Temenos: moving beyond the core
The extent to which a targeted series of acquisitions over the past few years have moved Temenos from being simply a core banking system vendor to a fully-fledged financial technology specialist became clear at its recent annual user event, this year held in Abu Dhabi.
Pressure on financial innovation shown by drop in patent applications
Innovation in financial services is currently at a seven-year low, reflecting a period of cost-cutting and scaling back in the face of new financial regulation – but innovative new technologies such as mobile may provide a solution, according to law firm RPC.
Money via email: will Google bring the breakthrough?
The idea of sending money via email is not entirely new. This month, however, a new financial player entered this arena: Google announced that it will integrate Google Wallet into Gmail.
Remittances: a window to the future?
The $400 billion global remittances market is moving from cash to account-based transfer, but costs, regulations and new competitors are still the key issues.
Tearing up the financial services value chain
Traditional finance is not as we once knew it. The internet has completely disrupted the financial services value chain. The banks are struggling to keep up with advancing technology. Understanding mobile, cloud computing, social media, big data and how to utilise each capability are key challenges for the banks to overcome.
Identity and mobile figure large at payments and cards event
The themes of security, identity and mobility ran strongly through the Cards and Payments Middle East conference in Dubai this week – and not just because the event itself is sandwiched between related and interlinked events focusing on Mobile and Identity.
Digital progression in retail banking: Europe’s banks are not fully prepared
Across Europe many banks feel unprepared for the next phase of the ‘digital revolution’, while factors such as expensive compliance regulations, poor data management and outdated systems are constraining them from implementing new solutions
The next big revolution in retail banking is sitting in the palm of your hand
Retail banking is changing through many external forces. The on-going global financial crisis has impacted the regulation surrounding the banking industry, but there are other factors changing the environment banks find themselves operating in.
Italy’s SIA set to connect to New York as recovery plan bears fruit
Milan-based financial technology firm SIA is expanding its reach to New York later this year in a move that caps the latest-phase of a three-year recovery plan for the firm. The extension of SIA’s Financial Ring to New York follows that activation of a hub in Frankfurt is the third cornerstone, after Milan and London, […]
Banks should prepare for NFC says Celent
NFC is gradually beginning to overcome the obstacles that have held back development. Banks should prepare for the coming upswing in usage, according to a new report by financial research firm Celent.
Rabobank’s Inneke Bussemaker at IPS 2013
Rabobank’s Inneke Bussemaker talks about The Brave New World of Payments session she chaired at IPS 2013, taking a critical look at the future of how payments work in a world where corporates will have to adapt to a consumer-driven agenda.
Mobile is there for the taking …
Financial institutions have owned the commercial payment space for centuries, but are now seeing a threat to their incumbency from new technologies that have opened up the industry to other business sectors. Mobile transactions in particular are shaking-up banking.
Brett King, Moven, at International Payments Summit 2013
Brett King, founder of Moven, speaks to Banking Technology editor David Bannister about how banks have to cope with the move to a virtual world and the emergence of what he calls “smarter payments”.
Mobile account takeover: when device ID isn’t enough
Protect your transactions! Protect your login! Protect your mobile channel! Protect your end users! A layered security architecture is now standard for most organisations. The problem, however, with many of today’s layered security solutions is that they do not correlate information between the various layers (security risks, suspicious events, fraud indicators etc.) and thus fail to see the big picture.
Banks opt for hosted mobile services says Celent
As Banking 3.0 continues its inexorable rise, banks are increasingly turning to hosted mobile services developed with vendors – but there is still more work to be done before mobile banking becomes mainstream, according to a new report by analyst firm Celent.
IPS 2013 Round-up: market changing faster than players or regulators
By the standards of the rest of the financial services sector, the payments industry has always progressed at a glacial pace. For the past 10 years, the key topic at the long-running International Payments Summit has been the Single Euro Payments Area.
The limits of the mobile revolution
Senior financial executives have clashed over the extent to which mobile payments technology has failed to reach its potential – and the best way to fix it.
Mobile opportunities for banks
The emergence of alternative payments providers such as PayPal and the growth of mobile payments systems such as M-Pesa should be seen as a major opportunity for banks, not a threat, according to Ron van Wezel, global head of emerging payment streams at Deutsche Bank.
Kalixa Group unveils “disruptive” payments tools
Payments company Kalixa Group has launched a set of tools including an mPOS, e-wallet and acceptance kit, which it says will disrupt the global payments market in Europe, the Americas, Asia Pacific and the Middle East.
Mobile will kill the traditional bank branch says Brett King
Disruptive digital technologies such as mobile and the internet will destroy the established retail banking business models by removing the physical product and replacing it with a digitised bank account, according to Brett King, speaking at the IPS show in London today. “In the old days there was a physical product, and a physical store,” […]
PFM: looking after the pennies
Personal financial management tools have spluttered in and out of fashion, but a combination of mobile, tablet and internet banking uptake may mean their time has come, Recent years have seen the emergence of a plethora of PFM tools, each of which purports to be the best way to keep track of your finances.
White paper: New rules of enterprise application development MEAP, MADP & MORE
Enterprise mobility is a constantly evolving undertaking. As with any technology, just when you think it’s safe to use a term, the wording changes or a new device or solution comes out. This report examines the technology behind mobile application development for the enterprise and takes a look at the platform landscape. Mobile application development […]
Resistant to digital banking? Consumers have never demanded it more.
In today’s multi-channel age, banks cannot afford to focus all their efforts on a single digital strategy any more than solely on the branch experience – the winners will be those that can see beyond channel-specific efforts and provide a truly integrated offering.
