Bank of America Merrill Lynch is launching a new solution—Intelligent Receivables—that uses artificial intelligence (AI) and other software to help companies “vastly improve” their straight-through reconciliation of incoming payments to help them post their receivables faster.
Barclays announced on Aug. 21 that it’s the first U.K. high street bank that lets mobile banking customers make a payment by asking Siri. The payment, which relies on TouchID for authentication, can be completed without opening the Barclays Mobile Banking app.
Look out Siri and Alexa, but Samsung says its artificial intelligence (AI) powered Bixby’s voice system has now expanded to more than 200 countries and territories. In addition to South Korea and the US, it is now available in the UK, Australia, Canada and South Africa, among others. As reported in March, Samsung unveiled the […]
Card control firm Ondot Systems has released its multi-interface card control integration platform. The California-based company has combined a server-side API, mobile apps, and an HTML5 framework to give financial institutions (FIs) the ability to add card control technology to their mobile banking solutions, reports Finovate (Banking Technology‘s sister company). “Much as Facebook Messenger fits […]
Plagued by delays, threatened by US Congressional repeal and finally opened to further comment and changes, the Consumer Financial Protection Bureau’s (CFPB) final rule on prepaid accounts now has some consumer groups calling for the bureau to “strengthen” consumer protections with additional changes, while one credit union association wants the rule rescinded. To refresh your […]
Hot on the heels of the round-up on 18 August, here’s another blockchain and Bitcoin report. Featuring D+H Corporation (now Finastra), Visa, BTCS and Blockchain Global. A patent filing frenzy seems to be occurring at present. Following on from Bank of America filing three new patents using blockchain earlier this month, we now have D+H […]
Fiserv has acquired payments software vendor Dovetail as it pushes deeper into the payments infrastructure sector. Financial terms were not disclosed. Through the acquisition, Fiserv says it will combine Dovetail’s real-time payments platform, services and business processing with its payment capabilities. Dovetail had been one of the very few independent fintech beacons in the industry, […]
It’s a rare ray of sunshine for the under-fire Uber, as it won a key battle as the US Second Court of Appeals ruled its Terms and Conditions (T&C) were legally binding, reports Telecoms.com (Banking Technology‘s sister publication). Uber has proved to be a difficult ally to have in recent months with the firm facing […]
Plagued by delays, threatened by Congressional repeal and finally opened to further comment and changes, the CFPB’s final rule on prepaid accounts now has consumer groups calling for the bureau to “strengthen” consumer protections while a credit union trade group wants the rule rescinded.
It’s a rare ray of sunshine for the embattled Uber, as it won a key fight in the U.S. Second Court of Appeals, which ruled its terms and conditions (Ts & Cs) are legally binding
Six months after coming on board to lead the digital financial services trade association, Maikki Frisk talks about how to drive mobile payments adoption, the implications of Brexit and PSD2, and the ultimate importance of a good user experience.
Fiserv has acquired payments software vendor Dovetail as it pushes deeper into the payments infrastructure sector and real-time payments. Financial terms were not disclosed.
We’ve got your back if you want to keep track of financial backing. Our latest fintech funding round-up features Options, Instamojo, AnyPay, Aegon and Funding Circle. Options, a provider of cloud-enabled managed services to capital markets, has received nearly $100 million in investment from New York-based private equity firm Bregal Sagemount. The money will be […]
It’s safe to say mobile is just getting started as a payments form factor, but don’t chuck your plastic cards just yet. Personalization, including QR codes, can boost usage and help you stay top of wallet.
Quickly following on from the round-up on 16 August, here’s more blockchain and Bitcoin action. Features the Australian government, Blockchain (as in the firm), ShapeShift, Bitstamp and Payza. The Australian government has launched a crackdown on money laundering and terrorism financing – including the digital currency exchange sector being regulated for the first time. The […]
Mobile contactless transactions in the U.K. topped £370 million (US$476 million) in the first six months of 2017, a whopping 336 percent year-on-year increase, according to the latest transaction data from payments processor Worldpay. (Infographic included.)
The Prepaid International Forum has added another member to its roster. Global Processing Services, whose managing director Suresh Vaghjiani is an Industry Achievement Award recipient in the 2017 Pay Awards, has joined the nonprofit trade group.
Last month, we asked Paybefore.com visitors to vote for the Best Challenger Banks—the ones shaking up the status quo with a legit chance to become consumers’ preferred accounts, not just a stepping stone to the big banks. For the next few weeks, we’ll be sharing our spotlight articles on these challengers. First up is Revolut.
KeyBank is putting its money where its mouth is. The bank isn’t just partnering with fintech companies, it’s also investing.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Denmark-based mobile banking service Lunar Way has launched its travel card – and the chance to experience the world without fees. Its newest feature, called the Lunar Way Travel Card, is its attempt to stand out in a world of roaming charges. Lunar Way says: “One area where the consumer has always been stung is […]
As expected, US Senator Elizabeth Warren (D-Massachusetts) is not going to let the Consumer Financial Protection Bureau’s (CFPB) final rule on arbitration agreements go down without a fight. The ranking member of the Senate Banking Committee’s Subcommittee on Financial Institutions and Consumer Protections wants big banks – not just their lobbyists – to address the […]
Global payments service provider eMerchantPay has received authorization from the Financial Conduct Authority as an e-money institution, which means it can issue products including payouts, e-wallets and prepaid cards, and has joined the Prepaid International Forum.
In the P2P showdown, who will be left standing? See how early entrants like Venmo and Square Cash stack up against Zelle and Apple.
Digiliti Money may be able to breathe a bit easier with a new acquisition offer on the table after a tumultuous few weeks.
The most popular digital wallet in Singapore has rolled out the first virtual Visa card in the country thanks to a partnership between global technology group and 2017 Pay Awards Change Agent of the Year Wirecard and Singtel.
As expected, U.S. Sen. Elizabeth Warren (D-Mass) is not going to let the CFPB’s final rule on arbitration agreements go down without a fight. The ranking member of the Senate Banking Committee’s Subcommittee on Financial Institutions and Consumer Protections wants big banks—not just their lobbyists—to address the issue.
Banks are beginning to re-align their internal processes and external-facing products to take advantage of, and more fully realize, the potential of digital transformation. One of the biggest challenges they come up against in this pursuit is how to balance customer experience and security. In other words, implementing a framework that accounts for all the […]
Hot on the heels of the Fed’s Faster Payments Task Force final report and call for the industry to implement faster payments in the U.S. by 2020, SWIFT is offering a gateway.
The battle for e-commerce and payments domination is on in India. Paytm, an e-payment/e-commerce brand and payments bank, is bringing the QR code scanning habit to the Indian masses, while rival Flipkart has raised $2.5 billion from Japan’s SoftBank and Amazon has launched its digital wallet.
Alipay has inked a slew of partnerships lately. The latest deal for the Chinese app is with Yelp and connects local businesses with Chinese travelers, a move that’s likely to boost loyalty and transaction volume in one fell swoop.
Paytm, e-payment/e-commerce brand and payments bank, is bringing the QR code scanning habit to the Indian masses, while Amazon Pay has launched a digital wallet.
Many famous faces have decorated our notes over the years, but just like the cheque, cold, hard cash is living on borrowed time.
Since 2012, the top ten US banks (by assets under management) have participated in 72 rounds totaling $3.6 billion to 56 fintech companies, according to CB Insights. While investment activity dropped on a quarterly basis in Q1 2017, four of the last five quarters have seen over $1 billion invested into fintech start-ups in the US backed by venture capital firms.
Instead of reporting its second-quarter earnings today, Digiliti Money Inc. plans to file for an extension with the SEC after its accounting firm flagged problems with its previous financial reports, the company announced Aug. 14.
Former financial ombudsman Walter Merricks is appealing the U.K.’s Competition Appeal Tribunal’s decision not to certify his claim in a proposed £14 billion (US$18.2 billion) class action lawsuit against Mastercard over interchange.
As students gear up for back to school, the competition for international tuition payments continues to heat up. Geoswift, UnionPay International and Western Union Business Solutions are offering Amazon gift cards to Chinese students studying in 14 countries that use their service for cross-border tuition payments.
Fintech zeitgeist! This week, Banking Technology’s editor Tanya Andreasyan muses about the growing trend of celebrity endorsement in the fintech world.
PayPal has set up two innovation labs in India – based out of the company’s tech centres in Chennai and Bangalore – to help the country’s fintech start-ups grow.
Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi and UAE Exchange have teamed up “to support, develop and promote the fintech” ecosystem in the country.
