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.
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, […]
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 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.
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, 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”.
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.
Payment processing firm Visa Europe has introduced a service allowing consumers to make mobile payments across the region immediately and using any European currency. Meanwhile in India, popular money transfer and payment service M-Pesa has now been fully launched. Visa Europe’s Personal Payments service enables Visa credit, debit or prepaid card users to accept payments […]
Turkish operator Turkcell and SIM card and mobile security solutions provider Gemalto have each found themselves at the hearts of two mobile payment projects that promise to transform the transport and retail sectors in Turkey and the USA respectively.
The world is embracing digital technology in every area of economic and social activity, including those that appeared impossible to convert to a digital format completely, such as payments.
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.
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.
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.
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.
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.
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,” […]
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.
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 […]
Banks in the UK and Ireland need to adjust to changing consumer behaviour as customers cut back on the amount of time they spend banking online and visiting bank branches, according to new research by Accenture.
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.
An analysis of mobile solutions for financial advisors concludes that applications to support client interaction and advisory services “will become one of the most industry-disruptive, but potentially most rewarding” developments in the wealth management sector. This is the main finding of Mobile Apps for Financial Advisors and Wealth Managers by Swiss research company MyPrivateBanking Research. […]
PKO Bank Polski has added a mobile payment service that covers all payment situations using the Mobile Everywhere platform from Stockholm-based Accumulate.
Yorkshire Building Society is to offer online personal financial management capabilities through a multi-year agreement with eWise.
Almost 200 million mobile users will be making bill payments via their mobile by 2017, according to research. According to Juniper Research, there is a growing user acceptance of ‘push’ mobile banking and a sharp rise in tablet adoption that will drive users of transactional tablet banking services. The report also finds that, adoption of […]
Rising to the challenge of reconnecting with customers, rebuilding trust and renewing the banking experience, banks are starting to explore digital technologies and solutions.
US bank USAA Bank has adopted a mobile virtual assistant called Nina, developed by Nuance Communications, which lets customers interact with their bank account in novel ways that simulate a conversation with a real human.
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.
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.
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, […]
MasterCard has announced the roll-out of a new integrated authorisation tool that straddles the card, online and mobile payments areas, while allowing merchants and digital wallet providers to integrate it with their services.
Dan Wagner is pretty sure that he has an idea how the use of mobile devices will play out in the commercial world and how the relationships between banks, merchant acquirers, merchants and customers will change.
Saxo Bank has added new features to its trading app SaxoTrader, which works on iPhone and iPad and is designed to make trading more mobile.
The Payments Council’s latest report, The Way We Pay, shows rapid changes in use of payment methods over the past decade – but cash is still in the mix.
Spanish bank Banco Santander has signed a deal with iZettle, a fledgling Swedish payments specialist that focuses on ‘social’ payments. The two companies plan to distribute mini chip-card readers to customers, so that they can accept card payments with smartphones and tablets.
In the history of bank robberies, the £30 million stolen by the Eurograbber attack in 2012 ranks as one of the all-time biggest, globally. And when you consider that this sum was stolen from more than 30,000 accounts across 30 banks in four European countries, using malware that affected both PCs and bank customers’ mobile […]
Banks may have a poor reputation with the public, but the majority of people in the UK would be more likely to adopt mobile payment services if they are provided by a bank.
Indian bank ICICI and local mobile operator Aircel have launched a mobile financial services offering using Visa’s hosted platform solution.
For an event that is based around the idea of introducing new players and new concepts to the financial technology world, this year’s Finovate Europe was heavy on familiar faces and some increasingly familiar concepts.
A 400% increase in malware for mobile devices masks a security scene where many of the threats are much as they have been for several years – but where the volume of attacks means that firms should think in terms of when they will be attacked rather than if they will be.
Indonesia-based PermataBank has developed the first mobile payments service for the BlackBerry Messenger service. The bank has teamed up with UK mobile banking solutions provider Monitise to roll out a commercial pilot of BBM Money in the country ahead of a full launch. BlackBerry users will have the option to access a Mobile Money account from their […]
