Celent sees strong global growth in bank IT spending
Global IT spending by banks will grow 4.4% to $188.0 billion this year, and will continue to do so for the next few years, according to research firm Celent.
FinTech
IND acquisition opens chink in competitors’ armour for Misys
The acquisition of digital banking specialist IND Group will give Misys access to parts of its rivals’ customer base that it intends to exploit as it develops its offerings in the digital banking channel, while the closer integration of the IND capabilities will also shore up Misys’ defences against encroachment of its own ageing user base.
Bangkok Bank invests in mobile banking and payments
Thailand’s Bangkok Bank has installed a new mobile banking and payments platform built by technology company Fiserv, which it says will give customers better security and the bank a stronger presence on mobile devices.
February 2014 SEPA: a two-way stretch
A nominal six-month delay in the need to migrate to SEPA-compatible formats hasn’t slowed down the rush to convert clients
Mobile vulnerabilities require banking apps rethink
Concerns are emerging over the failure of some mobile banking providers to address security risks. According to a recent review of 40 home banking apps from the world’s top 60 banks, nine out of ten apps had serious security vulnerabilities.
Monitise targets Turkish mobile money
Mobile money firm Monitise has acquired Pozitron Yazilim, an Istanbul-based mobile technology specialist, in a £24 million all-shares deal that highlights the growing demand for mobile financial services in the eastern Mediterranean’s largest market.
Russia 2.0 – major overhaul will attract international investors
As Moscow modernises its corporate governance, legal institutions and financial infrastructure, new possibilities are opening up to foreign investors, says Tim Bevan, executive board member at BCS.
ITRS adds Murex capability to monitoring system
Trading system monitoring specialist ITRS Group has added a module to its Geneos system for the Murex cross-asset trading and risk management platform.
How many sides can you put on a coin?
There are two sides to every coin, but with Bitcoin those sides simply could not be farther apart. Its promise is extraordinary: for those afraid of inflation, it is gold redux, while for those who hate exchange rates, it is a way to pay internationally. For merchants it is a way of avoiding high transaction fees and for former Presidential hopeful Ron Paul, it is the destruction of the US Dollar.
Getting personal: banks must brace for change
Major global banks need to grasp social networks, cloud computing, user-generated content, personalisation, contextual information and gamification if they are to maintain a competitive edge and stay connected with customers. But they also need to ensure their innovations are transmitted thoroughly to all employees, according to panellists at the BAFT IFSA conference in London on Monday.
O2 discards unattractive wallet
UK operator O2 has revealed that its O2 Wallet service, which closed last week, was a casualty of the pace of development in the fast moving mobile payments space.
Generation Y leads UK towards mobile banking
Nearly two-thirds (64%) of UK current account holders would prefer to bank online or via a mobile app than via telephone or in-branch banking (29%), according to a recent survey by YouGov and business process specialist Genpact.
Belgian bank offers real-time tools to mobile users
Belgium’s Record Bank has introduced a new mobile banking platform that it says will help customers better manage their money in real time. The features of the new mobile banking service include SEPA payment abilities and the ability for customers to check the status, transaction history and details of their own account. Established in 2001, […]
HSBC targets online commerce with FX conversion for retailers
HSBC has rolled out a service that will allow online retailers to give customers the choice to pay in various international currencies.
Japanese mobile payments hold promise reports Celent
Japan’s evolving payments industry offers an opportunity for financial institutions and card issuers to capitalise on mobile technology and card schemes, according to a new report by analyst firm Celent.
More mobile please – but make it relevant
The likes and dislikes of mobile banking customers around the world suggest that there is an opportunity to expand mobile services globally – but providers need to be careful they are targeting the right information to the right people, according to a new survey by analytics firm FICO.
Bank Alfalah introduces mobile money service in Pakistan
Pakistani Bank Alfalah has teamed up with operator Warid Telecom to launch a mobile money service. The service, Mobile Paisa, will initially enable users to make utility bill payments and secure money transfers across Pakistan.
MasterCard takes controlling stake in mobile remittance service
MasterCard has teamed up with mobile payment solutions provider eServGlobal and Belgacom’s carrier services unit BICS to extend the capabilities of their international mobile remittance platform HomeSend. The three firms have set up a joint venture which uses the HomeSend platform, in which MasterCard will have a controlling share.
2014: a good year for the fraudsters
2014 looks to be a good year for fraudsters as government and law enforcement struggle to come to terms with the issues and the continuing spread of mobile continues to offer them poorly-protected targets.
The hardware guy: how Bank of America is building a new infrastructure
Bank of America is working with Facebook’s Open Compute project on a radical revamp of its systems. David Reilly, head of its Technology Infrastructure unit, tells Banking Technology why Software Defined.Infrastructures are the way ahead.
Global exchanges get together to address cyber threat
The World Federation of Exchanges has set up a Cyber Security Working Group with a “mission to aid in the protection of the global capital markets” in the wake of a number of attacks on international exchanges over the past few years.
Garanti Bank rolls out Turkcell mobile wallet
Turkey’s Garanti Bank and mobile operator Turkcell have partnered with Visa Europe in a deal aimed at bringing the Turkcell mobile wallet to more consumers in Turkey.
BIAN adds first Middle East member
The Banking Industry Architecture Network has gained its first member in the Middle East with the addition of Commercial Bank of Qatar to its roster.
A brave new world for CIOs?
A new role for CIOs in the banking sector was highlighted at the recent Gartner Symposium: to maintain their future relevance and position, they need to be seen as consultants in the technology space, not just providers.
White paper: Banking on Tech City
Tech City is the name given to the hub of high growth technology companies in East London and is lauded as the engine room of British innovation. In November 2010, Prime minister David Cameron launched his Tech City Initiative, saying “We’ve also asked some of the world’s biggest businesses and banks to help provide the […]
Oberthur and mBank target emerging markets with mobile wallet
Digital security firm Oberthur Technologies has partnered with mobile services specialists mBank in a project aimed at bringing “branchless” banking services to people in emerging markets.
Second IT glitch “unacceptable” says RBS
An IT problem that left customers of RBS and its Natwest and Ulster Bank subsidiaries unable to use their accounts yesterday evening was described as “unacceptable” by a bank spokeswoman. For three hours – on what was expected to by the largest online shopping day of the year, dubbed “Cyber Monday” – the banks’ customers […]
Is it safe to trust the machines?
Bank algos may superficially appear to be well-tested – but the process may be open to any number of unexpected flaws, according to Steve Wilcockson, industry manager at big data specialist firm MathWorks.
RBS commits to V.me by Visa mobile wallet as Nationwide beats it to roll-out
RBS has confirmed that it is to launch V.me by Visa, the digital wallet built by Visa Europe. The decision follows a pilot programme, and will mean that RBS follows in the footsteps of Nationwide Building Society, which has just become the first UK high street brand to roll out the wallet to its customers.
Voxsmart prepares cloud mobile voice recording service for banks
A new mobile voice recording service is being developed by UK tech company Voxsmart, which it claims is the first to automatically capture every type of communication on a mobile device so that it can be used for trading compliance purposes, including the FCA in the UK and Dodd-Frank in the US.
Turkey: where worlds collide
For centuries, Turkey has stood at the crossroads of Europe and Asia. While the country is leading the way in mobile banking, its infrastructure reflects a culture where minarets mix with mobile masts and ATMs compete for space with ancient monuments.
European Central Bank seeks comment on mobile security proposals
A draft set of 14 recommendations to promote the security of mobile payments has been published by the European Central Bank for public consultation.
Moving Money: the ATM makers’ view of the future
With the rise in mobile payments and wallets, cash is dead and so is the ATM business, right? Not according to the ATM manufacturers, who are all being remarkably sanguine.
TCS Bank readies Russian mobile wallet for Christmas
Russian bank Tinkoff Credit Systems has become the latest financial institution to launch a mobile wallet service, which is due to go live on 1 December 2013. The new wallet will target Russia and will be available on both Android and Apple iOS devices.
FIS: making a mark in mobile
Financial software giant FIS is sitting in the middle of the move to mobile, with its customers serving 21 million users. Doug Brown, senior vice president, e-banking, says that’s just the beginning.
Isis aims to breathe new life into US mobile wallet market
The latest version of the telco-backed Isis mobile wallet service has been launched across the US, following 18 months of testing in Texas and Utah by owners AT&T Mobility, T-Mobile USA and Verizon Wireless.
Swift: capitalising on customer collaboration
Swift’s head of banking talks about how the industry co-operative plans to build services based the data flowing through its interbank messaging systems.
Orange and Visa team up on NFC payments in France
French operator group Orange has formed a strategic partnership with payment provider Visa to accelerate awareness and everyday usage of contactless payment technology in France. The operator has also launched a mobile prepayment solution called Orange Cash in the country.
PKO Polski bets on mobile replacing card formats
Mobile phone-based payment solutions will eclipse cards by allowing bank customers to pay directly from their accounts, says a PKO Polski executive.
Skrill goes global with mobile
Mobile payments company Skrill has launched a mobile app that it says can send money to anyone, anywhere in the world at any time. The app has several uses, including cross-border remittance payments to various countries in eastern Europe and around the world.
