March 7, 2013 “Banklike” card products, such as American Express Co.’s Bluebird, Chase Liquid and Green Dot’s GoBank, that target underserved customers who are disproportionately “young and mobile” are just the tip of the iceberg of innovative new products emerging to serve a changing society, according to Rachel Schneider, senior vice president for insight and analytics for […]
As the deadline for mandatory swaps reporting approaches for more and more asset types, US post-trade services utility the DTCC has announced that swaps dealers are now submitting OTC derivatives trade information for all five major asset classes into its US swaps data repository, DDR.
BBVA Compass, the US operation of the Spanish banking group, has been singled out as Model Bank of the Year in the latest report from international financial research and consultancy firm Celent.
Reference and corporate actions data specialist Exchange Data International has struck a deal with with Derivative Partners, a provider of risk management and valuation services of structured products, to provide valuations for a range of structured products and complex derivative instruments. The current service covers result sets combining various asset classes including equity, indices, FX […]
March 6, 2013 Visa Europe is deepening its relationship with Monitise plc with a new deal to expand mobile payments and mobile commerce services to 3,000 European banks across 36 countries and a commitment to increase Visa Europe’s existing stake in London-based banking and mobile payments provider Monitise, the companies announced today. Visa Europe will […]
March 6, 2013 As GPR card providers seek to develop long-term cardholder relationships, a panel of industry experts at the Prepaid Expo USA in Orlando, Fla., discussed strategies of dealing with one of the prepaid industry’s biggest hurdles—reducing customer churn. The lifespan of a typical GPR card is a short one; cards distributed online average […]
March 6, 2013 The prepaid card industry may appear to have little in common with the airline industry, but prepaid card marketers could learn a few lessons from Southwest Airlines about surviving turbulent times and transforming commodity-like financial services products into unique and successful brands, Southwest’s former top executive told attendees during a keynote session […]
March 6, 2013 Visibility, replenishment and store associate awareness are three keys to energizing a retailer’s gift card category, according to Colleen Dorwart, senior manager of gift card services at Cabela’s Inc. Dorwart, who was part of a panel discussion this week at Prepaid Expo USA in Orlando, Fla., also stressed frequent conference calls between […]
Clearing house LCH. Clearnet has cleared $22 trillion notional of interest rate derivatives through its SwapClear service for buy-side clients, as market participants put in place the final preparations for the Dodd-Frank clearing deadline on 11 March.
Trading technology company ConvergEx Group has released a new suite of algorithms designed to capitalise on growing interest among market participants in multi-legged options trading strategies.
Bank of America has introduced a new credit card that rewards customers with up to £100 annually for responsibly managing their monthly credit card payments.
March 4, 2013 Paybefore celebrated 72 programs in 23 categories, naming for the first time Best-in-Category honorees at the 7th Annual Paybefore Awards Ceremony, which capped off the first day of Prepaid Expo USA in Orlando, Fla. This year—for the very first time—there was a sixth judge, consisting of the votes of visitors to Paybefore.com, […]
March 5, 2013 As competitive pressure drives prepaid card pricing and fees steadily downward, prepaid marketers must become savvier about managing portfolios on a holistic basis rather than as low-cost standalone products, a panel of industry executives suggested during a panel discussion on the future of prepaid cards on March 4 at the Prepaid Expo […]
March 5, 2013 The prepaid card industry as it matures is reaching a broader range of consumers at all age and income levels, and competition is forcing prepaid products to become more innovative, said Beth Horowitz, Discover senior vice president, on March 4 at Prepaid Expo USA in Orlando, Fla. Mainstream consumer groups steadily adopting […]
March, 5, 2013 CPI Card Group, a Littleton, Colo.-based card producer, has expanded capabilities at its Petersfield facility in the U.K. to support demand for secure prepaid card packaging, the company announced yesterday. The new capabilities, which include gift card packaging for distribution within an open- or closed-loop environment, add to the existing products and […]
March 5, 2013 Tracking their finances, saving time and money, avoiding risk and maintaining close relationships with their parents are some of the hallmarks of older “Millennials,” the generation born between 1982 and 2005, according to Neil Howe, founding partner and president, LifeCourse Associates, a consulting company focused on the attributes of generations. Howe, a […]
March 5, 2013 Prepaid Resources, a New York City-based technology specialist for the prepaid and banking industry, has announced a partnership with Atlanta-based technology provider IDology to incorporate advanced identity verification and prescreening solutions within Prepaid Resources’ FraudGuard security services. Fraud Guard protects against unauthorized direct-deposit enrollments using Prepaid Resources’ BenefitsDirect Direct Deposit Management application. […]
March 5, 2013 GroupGifting.com, the developers of the eGifter Web and mobile social gifting app, debuted its integration with LinkedIn at the Prepaid Expo USA in Orlando, Fla., yesterday. The new feature enables consumers to send eGift cards to their LinkedIn Connections. “Social gifting in a business context is now a reality,” said Tyler Roye, […]
The European Central Bank has signed a deal together with the central banks of 18 countries to adopt Thomson Reuters’ Eikon desktop for trading and market data.
While changes to the OTC derivatives world grab the headlines, trading is moving to a cross asset world, largely driven by regulation and standardisation – and after a few years of pain, firms may find that they are better off as a result.
The London Stock Exchange’s FTSE Group and Canadian exchange TMX have signed an agreement to combine their fixed income index business in a new joint venture, resurrecting at least part of the cooperation originally planned under the two exchanges’ failed merger back in June 2011.
A majority of consumers would prefer portable bank account numbers to make switching between banks easier, according to a new YouGov poll conducted by BT – and the reasons may surprise advocates of Banking 2.0.
Feb. 28, 2013 Discover Financial Services is taking on the likes of online banking specialists Simple and Moven with Discover Cashback Checking, introducing a mainstream debit card, to be processed on its Pulse network. Initially targeting only select Discover credit card customers by invitation, Discover’s new banking service carries no monthly fees or minimum balances […]
Feb. 28, 2013 MasterCard Worldwide pushed its global mobile payments strategy forward this week with announcements of diverse initiatives targeting new customers, including a strategic partnership with Amsterdam-based mobile network operator VimpelCom Ltd. to reach unbanked consumers in 18 countries with a “mobile money” service, as well as the card network’s first NFC launch in […]
Feb. 28, 2013 A new startup from PayPal co-founder Max Levchin is aiming to improve the process of making online purchases via mobile device—an improvement he says is a boon to customers and retailers alike. Known as Affirm, the new company is the brainchild of Levchin’s tech incubator Hard, Valuable, Fun and is launching a […]
Feb. 28, 2013 As part of a partnership established last year with The Members Group (TMG), a Des Moines, Iowa-based card processing and payment solutions provider, CO-OP Financial Services today announced it will be offering TMG’s reloadable prepaid cards to all of its client credit unions. The TMG reloadable prepaid cards are in addition to […]
Feb. 28, 2013 Customer service is in the news for the second time this week as prepaid card provider AccountNow Inc. reported that more than 90 percent of its call volume is now resolved in the automated system rather than via live agent. The increase follows AccountNow’s move to VoltDelta for customer service 18 months […]
Blog: New Credit Card Surcharges Could Impact Prepaid Market February 2013 By Lori Breitzke, E&S Consulting LLC A proposed settlement agreement in the In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation—filed in 2005 on behalf of approximately 7 million merchants alleging, among other claims, that MasterCard and Visa had separately colluded […]
While most large banks in the UK offer a mobile app, some do not yet offer mobile cash withdrawal as a feature. That is likely to change soon, according to Ian Byrne, banking director UK and Ireland at ATM maker Wincor Nixdorf.
Financial services firms are being forced to become increasingly risk-focused due to the continuing pressure of regulation, according to a new survey by Thomson Reuters.
Kinshasa-based Rawbank has selected Clear2Pay’s e-Banking solution to revamp its online and customer loyalty strategy. Since its launch 10 years ago, Rawbank has become the largest bank by total deposits and total assets in the Democratic Republic of Congo, with a network of branches 30+ providing a local service to retail and corporate clients. Rawbank, […]
Orange Business Services – Trading Solutions has launched a collaboration with Bloomberg Vault that will record voice data in real time, so that brokers can better comply with regulation on record keeping.
Financial technology company SmartStream has launched a reconciliation solution designed to provide low-cost back office services.
Technology companies Verdande and ITRS have developed an early warning system designed to detect trading outages and system failures before they happen.
Payment service provider Payment Exchange has moved its Mauritius operation onto BPC Banking Technologies’ HP Integrity NonStop platform, which is designed to make it easier, faster and cheaper to launch new products.
The International Standards Organisation has finalised details of a new ISO standard that guarantee the long-term authenticity of electronic signatures.
Feb. 26, 2013 Payments industry experts eyeing the October 2015 target date for the U.S. migration to EMV card technology are contemplating plans to set up an EMV pilot in a single U.S. city to boost EMV planning and to work out the bugs in chip-card deployment. The concept, hatched by a committee within the […]
Feb. 26, 2013 European e-voucher provider paysafecard group has launched a new service it says will simplify the process of Internet shopping for its customers. The Paybefore Award-winning firm’s new system—dubbed “my paysafecard”—enables customers to combine all of their paysafecard e-vouchers into a single account. Instead of having to enter separate 16-digit PINs for each […]
Feb. 26. 2013 Rep. Spencer Bachus (R-Ala.) today told attendees at a Credit Union National Association Government Affairs Conference in Washington, D.C., that federal lawmakers may revisit the debit interchange fee cap created by the Durbin Amendment this year, according to CUNA’s News Now. The publication also reports the Rep. Jeb Hensarling (R-Texas) said earlier […]
Feb. 26, 2013 The Payment Cards Center of the Federal Reserve Bank of Philadelphia hosted a workshop last week focused on customer service in the prepaid card industry. Susan Herbst-Murphy, a senior industry specialist at the PCC, says the center was eager to learn more about customer service issues in light of the Treasury’s mandate […]
