Banks should prepare for NFC says Celent
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.
FinTech
Say goodbye to the IT crowd
The whole concept of internal software development within banks and other financial institutions could soon be replaced by small ad hoc teams constructing applications using off-the-shelf apps or downloadable modules, according to Michael Harte, chief information officer at Commonwealth Bank of Australia.
Rabobank’s Inneke Bussemaker at IPS 2013
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.
Mobile is there for the taking …
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.
Swift sees expanding role as facilitator for industry collaboration
As delegates gather for the third Business Forum organised by Swift in London this week, issues on the global impact of regulation and the banking industry’s response to it are more pressing than ever Perhaps equally pertinent to the conference – the largest event Swift organises aside from the annual Sibos conference and exhibition, with […]
Otkritie to roll out Calypso in London and Moscow
Russian broker Otkritie has gone live with the first phase of a new project to bolster its London and Moscow front and back office operations, including collateral management, replacing in-house systems with Calypso platforms.
Brett King, Moven, at International Payments Summit 2013
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”.
Mobile account takeover: when device ID isn’t enough
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.
Immediate mobile payments come to Europe, M-Pesa to India
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 […]
Mobile money to transform Turkish transport and US retail
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.
Spain: the next generation of payment technology?
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.
Banks opt for hosted mobile services says Celent
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.
IPS 2013 Round-up: market changing faster than players or regulators
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.
The limits of the mobile revolution
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.
Mobile opportunities for banks
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.
Kalixa Group unveils “disruptive” payments tools
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.
Mobile will kill the traditional bank branch says Brett King
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,” […]
State banking
Banking is too important to be left to banks – can governments do any better Also in this issue: Profile: Grand designs – Arun Jain, founder of Polaris Financial Technologies Same day, same settlement: same day payments are being adopted worldwide. What does that mean for D+1 settlement in Europe? Riding the OTC rollercoaster: new […]
Grand designs
Arun Jain, chairman and chief executive of Polaris Financial Technology, is a great believer in the power of design to transcend ordinary development work and deliver superior results – results that pay. Banking Technology caught up with him at the opening of the firm’s new design centre in Chennai.
North America drags feet on big data says Celent
Despite its potential, the vast majority of financial services firms have still not implemented big data tools, according to new research conducted in North America by analyst firm Celent.
Riding the OTC rollercoaster
As new rules for OTC derivatives take hold in Europe and in the US, banks and asset managers face a complex cocktail of mandatory clearing, reporting and increased collateral requirements.
PFM: looking after the pennies
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.
White paper: New rules of enterprise application development MEAP, MADP & MORE
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 […]
GoldenSource adds support for LEI to EDM systems
Enterprise data management vendor GoldenSource has added support for the ISO 17442 Legal Entity Identifier standard to its systems
Online banking use drops as mobile use doubles finds Accenture study
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.
Avoiding spreadsheet Hell
The JP Morgan Task Force Report into its Chief Investment Office’s $6 billion-plus loss found the bank’s Value at Risk was being calculated with an Excel spreadsheet that “required time-consuming manual inputs to entries and formulas, which increased the potential for errors”.
Resistant to digital banking? Consumers have never demanded it more.
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.
Financial IT spend to increase as banks and buy-siders grapple with regulation
Banks, asset managers and hedge funds will have to increase their IT budgets in 2013 to take account of weak market growth and a raft of oncoming financial regulation, according to new research by Ovum.
Haynes leads new venture to tackle European equities
Following a period of equity market consolidation, the time is right for a new entrant to step forward and transform the exchange business, according to Alasdair Haynes, chief executive of startup trading venue Aquis Exchange.
Polaris unveils $10m financial technology design centre in Chennai
Polaris Financial Technology has today opened a $10 million financial application design centre at its headquarters in Chennai, India, where customers will be able to work collaboratively with the vendor’s development teams on applications and systems.
Innovation nation: FinTech in the UK
As one of the world’s leading financial centres, geographically well-positioned between America and the Far East, London is very much a global city. It is perhaps unsurprising then that it also attracts businesses looking to provide financial services worldwide.
Mobile apps will boost wealth management sector
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. […]
Polish bank ramps up mobile payment capability with HP/Accumulate technology
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 to offer PFM through eWise tech deal
Yorkshire Building Society is to offer online personal financial management capabilities through a multi-year agreement with eWise.
Mobile bill payments to grow rapidly and migrate to tablets
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 […]
Banking on digital solutions to build trust and innovation
Rising to the challenge of reconnecting with customers, rebuilding trust and renewing the banking experience, banks are starting to explore digital technologies and solutions.
The rush to Russia
Infrastructure reforms are intended to turn Moscow into an international financial centre. There is still a long way to go. Also in this issue: Interview: MPowa’s Dan Wagner – closing the m-commerce gap Mixing up the pieces: will seven-day account switching really bring more competition to the UK retail banking market? SEPA readiness: evidence is […]
Barclays names new operations and technology chief
Barclays has appointed Shaygan Kheradpir to the new role of chief operations and technology officer.He will join the executive committee of Barclays and report directly to group chief executive Antony Jenkins.
USAA Bank enlists talking mobile banking app
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.
Firms face multimillion bill to address gaps in industry plans for T2S
There are “major discrepancies” in firms’ readiness for the implementation of Target2-Securities that leave “significant gaps” in the industry’s plans, according to new research carried out by Celent and Swift.
