Amsterdam Trade Bank (ATB), a European subsidiary of Russia’s Alfa Group, is looking for a new core banking system, Banking Technology understands. The bank is a long-standing user of Misys’ software, including Equation for core processing, Trade Innovation (TI) for trade finance, and Opics for treasury and capital markets. In 2010, Misys announced ATB’s successful […]
Earthport, a UK-based cross-border payment network, and Ria Money Transfer, the world’s third largest money transfer company, have teamed up. Earthport will provide Ria with access to a global payment network. “Through a single, managed relationship with Earthport, Ria will gain access to over 60 domestic clearing schemes,” Earthport states. The solution “enables complete transparency”, […]
Monex, one of Japan’s largest online trading brokers, is deploying a new platform for its domestic equity and investment trust processing business. The supplier is Broadridge Financial Solutions. Broadridge’s offering is JASDEC (Japan Securities Depository Centre, Inc) Processing Solution. Oki Matsumoto, CEO of Monex, says the new platform “will enable us to further improve our […]
France-based Linedata has taken over fellow investment management software provider, Derivation. Derivation specialises in risk, analytics, and portfolio management solutions to institutional and hedge fund managers. It is based in the UK, employs 20 people and its pro-forma revenue for 2015 is £2 million (€2.5 million). The acquisition has now been completed. Derivation’s products will […]
The recent D+H conference in London has provided a platform to corporates to share their experiences of dealing with banks, vent their frustration, highlight the improvements and discuss the latest developments and the way forward. Unsurprisingly, the main themes were standardisation, automation and the reduction of complexity. The panellists – representatives of Hilton Worldwide, Ingersoll […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Money 20/20 Europe: Biometric identity, SMEs and final day’s sessions round-up Key highlights, what went well and what could be improved. Money 20/20 Europe: KYC/ID, commerce disruption and femtech round-up Valid points raised, key issues discussed. A must […]
Sudan-based Export Development Bank (EDB) has gone live with its new core banking system, Temenos’ T24. The Islamic bank implemented R13 of T24 and has also got Temenos’ Insight Financials tool. The project was initiated three years ago, with the contract signing in Q1 2013. National Data Consultants (NDC), a regional implementation partner of Temenos, […]
Here’s a round-up of yesterday’s (6 April) panel discussions and today’s (7 April) sessions at Money 20/20 in Copenhagen. In “Biometric identity and its applications in financial services and payments”, on 6 April, it was a case of the panel moderator questioning the audience as the first step. When asked if they had biometric authentication […]
With the threat of cybercrime growing considerably, we canvassed top payments providers and data security consultants to find out what they see as the biggest cyber-risks, and what steps companies should take to help keep consumer data—and the financial system—safe.
As contactless EMV transactions become mainstream in the U.K., the trends could foreshadow what’s ahead for U.S. payments.
At the All Payments Expo in New Orleans, engagement and security were all the rage, while payment experts looked toward new prepaid rules from the federal government.
At the D+H customer event in London, Insights EMEA, there has been a lot of talk about innovation, blockchain (of course) and where corporate payments are heading. Whilst D+H and its Global Transaction Banking Solution (GTBS, formerly Fundtech) unit are, understandably, promising their clients better solutions – so we won’t dwell on that – it […]
There’s no doubt about it, fintech is a force to be reckoned with, and the UK has positioned itself convincingly as the global capital. Speaking at an event only last month, Economic Secretary, Harriett Baldwin, commented on how fintech is “helping normal people in their daily lives” by giving them extra choices when it comes […]
During a panel at Money20/20 Europe in Copenhagen on April 5, experts discussed the challenges of creating personalized experiences to entice users and deliver those experiences at scale.
Europeans are showing an increased interest in digital wallets and almost a third (31 percent) say they’re likely to use a digital wallet on a mobile device, 5 percent more than the previous year, according to Aimia research released this week at Money20/20 Europe.
PayPal Inc. has unveiled a new chart that shows just how quickly its mobile payments have spread in the U.S. over the past decade. Issued in a PayPal blog post to mark 10 years since the company offered its first mobile payments service—which enabled users to send money via text—the chart tracks PayPal’s mobile payments volume by year. Since beginning at under $50 million in 2006, mobile payments volume shot up, cracking the $1 billion mark in 2011—and the $10 billion plateau just a year later.
The CFPB has released its annual report on complaints received by the agency from military servicemembers, veterans and their families. Prepaid comprised just 1 percent of complaints from the military community—mirroring the tiny fraction of prepaid complaints to the CFPB from the general public.
Here’s a round-up of yesterday’s (5 April) panel discussions at Money 20/20 in Copenhagen. In “Knowing me, knowing you: Streamlining KYC, ID and customer onboarding” the issues of identity and how service providers are using new technologies for verification were examined. A question to the audience as to whether ID-based payments are dead received a […]
The financial services ecosystem is experiencing dramatic change, driven on the one hand by disruptive fintech models that are causing disintermediation of the financial incumbents, and on the other hand by rapid advances in technology that are disrupting the ancient, creaking core banking platforms. Fintechs, prepare for a wave of M&A, says FirstCapital’s CEO, Jason Purcell, as […]
Platformification – what is it and why do banks need to know about it? Hans Tesselaar, executive director at Banking Industry Architecture Network (BIAN), explores the issue. When alternative fintech players first established themselves in the financial services industry, they raised their profile by collectively bashing the banks – positioning themselves as a more transparent, […]
The relationship between banks and the startup fintech community has gone through various stages and may depend on your geography. But during an introduction of the three StartupPitch competition winners at Money20/20 Europe today in Copenhagen, Matt Harris, managing director, Bain Capital, likened the state of the fintech industry to the second movie in the original Star Wars trilogy—The Empire Strikes Back.
Two firms presented research at Money20/20 Europe in Copenhagen on April 4—with very different focal points. While CGI’s survey delved into what consumers want out of financial services—and from which companies they’d like to receive those services—Edgar, Dunn & Company presented research sponsored by Wirecard from its “10th Annual Advanced Payments Study” examining industry stakeholder attitudes and predictions for the future.
MasterCard is partnering with relief organization World Vision International to deliver humanitarian aid assistance via electronic payment technologies, including the Pay Award-winning MasterCard Aid Network.
The Verifone Carbon, designed for such businesses as cafes and retail stores, enables not only payments but personalized marketing messages targeted at consumers. Verifone says the launch helps showcase that it’s competing on a design and innovation standpoint, not just by providing security and scale.
The blockchain (and bitcoin) industry welcomes regulations, but has to share the limelight with other digital currencies, as regulators look to deal with its rise and implications. At yesterday’s (4 April) afternoon session, “Blockchain and digital currency: Regulatory perspectives” at Money 20/20 in Copenhagen, a panel discussed the burning issues of the day. Present were […]
Cardiff-based Principality Building Society is a step closer to selecting a new core processing system, Banking Technology understands. Principality’s current provider is Unisys Financial Services System (UFSS). It is understood that the building society has considered an upgrade of UFSS but decided against it. It is now evaluating offerings from a number of system suppliers. […]
Payment companies need to collaborate, not compete, when it comes to dealing with the threat of card fraud. At this morning’s (5 April) session, “Innovations in card not present fraud” at Money 20/20 in Copenhagen, a panel discussed the issue in a lively and quick chat. Present were moderator Andrew Jamieson, head of innovations, UL; […]
Nick Kerigan, managing director of future payments at Barclaycard, lends his expert view on the changing consumer payment landscape and maps the journey to contactless card payments and beyond. Kerigan leads the team that looks at payment and competitor intelligence, and is responsible for driving innovation across Barclaycard. Last year was a milestone in UK […]
Western Union Business Solutions has unveiled a brand new payments platform for SMEs, WU EDGE. The project has been 18 months in the making and is available to new and existing customers for free. WU EDGE is cloud-based, and is designed to be a single global payments tool for businesses worldwide. It will go live […]
Amazon is stepping on the gas when it comes to expanding its payments business globally. The e-retail giant today announced the launch of the Amazon Payments Partner Program in four countries. In an interview at Money20/20 Europe in Copenhagen, Patrick Gauthier, vice president, Amazon Payments, talked to Paybefore about the company’s payments plans and how it’s winning over merchants.
Figures from MasterCard and Visa show robust increases in EMV cards and merchant acceptance. More than two-thirds of MasterCard-branded cards carry the anti-fraud technology while Visa says it has more than 212 million EMV cards.
Google Wallet is phasing out its companion plastic prepaid card as Google continues to reposition the wallet app as a P2P money transfer service. The Google Wallet Card no longer will be supported as of June 30, 2016, Google announced in a blog post.
Santander and Kabbage are piloting an online tool to give UK small and medium sized enterprises (SMEs) access to same day funding. Announced today (4 April) at Money 20/20 in Copenhagen, SMEs can get access to new working capital of between £500 and £100,000 via an online process. At a media briefing, Sigga Sigurdardottir, chief […]
Realex Payments, a European payment service provider and part of the Global Payments group, has signed a two-year outsourcing contract with Allpay, a UK bill payments collection specialist. The agreement will see Allpay’s online payments processed through Realex’s managed eCommerce solution, and Realex says it will process approximately £1 billion transactions each year over the contract. […]
So here is a major headache for the treasury and capital markets industry: the cost line remains dead flat but the revenue line has dropped off the cliff. Utility is the answer to the market woes, strongly believes Philippe Chambadal, CEO of SmartStream Technologies. He talks to Tanya Andreasyan about SmartStream’s initiative in this space. […]
Faster payments is one of the more pervasive topics in almost any global payments conversation. And if you look at key countries like Singapore, the US, and Australia, it may seem to be more than just talking. Additionally, many countries are improving their infrastructure to clear payments in the same day or already have domestic […]
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
One of the most talked about issues in retail banking today is the emergence of the new entrant, or “challenger”, bank. “New” banks are being spun off from existing institutions and more than twenty organisations having applied for, or received, a banking licence over the past twelve months or so. Banking is becoming an ever […]
“I’ve forgotten – woe is me! What the magic word may be.” Johann Wolfgang von Goethe, The Sorcerer’s Apprentice (1797) How smart is your code? So-called “smart contracts” are science fiction realised. Executable pieces of code stored on a mutual distributed ledger for future execution bind people and payments to actions and outcomes. Computer scientist […]
When you think of the new era in banking — let’s call it “Banking 2.0” — what do you see? Is there something revolutionary such as totally virtual branches or no paper money at all? It’s hard to tell how Banking 2.0 will exactly look like, especially with virtual reality (VR) sets going mainstream, but […]
