SmartStream sets out back-office utility
Financial technology company SmartStream has launched a reconciliation solution designed to provide low-cost back office services.
FinTech
Early warning for trading failures
Technology companies Verdande and ITRS have developed an early warning system designed to detect trading outages and system failures before they happen.
ISO details new electronic signature standard
The International Standards Organisation has finalised details of a new ISO standard that guarantee the long-term authenticity of electronic signatures.
MasterCard integrates multiplatform e-commerce authentication across devices
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.
Heightened banking cyber threats require clear focus
As the US Federal Reserve joins a growing list of financial institutions targeted by cyber criminals, reports of an organised campaign to recruit hackers for a large-scale malware attack, dubbed Project Blitzkrieg, has further highlighted the challenge facing the banking sector.
Wagner aims at m-commerce gap
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 revamps mobile trading app
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 changing face of payments
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.
iZettle and Santander “democratise” cheap card payments
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.
Infosys claims improved “time to insight” with Big Data platform
Infosys has formally announced its BigDataEdge platform, designed to allow banks to bring together Big Data analytics onto one platform. “There have been several point solutions, but it is important to have a platform,” said Vishnu Bhat, vice president and global head for cloud at Infosys. Customers that have already deployed the platform – some […]
Inside Eurograbber: the £30m mobile banking heist
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 […]
IBM teams with Rapid Addition for ultra-low latency
High frequency trading specialist Rapid Addition has partnered with IBM to provide an ultra-low latency service for financial firms that are very sensitive to speed.
People prefer banks for mobile payments, says VocaLink
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.
India’s ICICI teams with mobile operator for Visa service
Indian bank ICICI and local mobile operator Aircel have launched a mobile financial services offering using Visa’s hosted platform solution.
Finovate Europe sees arrival of the Old Guard
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.
Mobile malware headache looms for security managers
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.
Temenos debuts LiveDesigner at Finovate Europe
Financial systems supplier Temenos made something of a splash at the Finovate Europe conference in London with the launch of LiveDesigner, a dynamic user interface designer.
PermataBank pilots BlackBerry Messenger Payments with Monitise
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 […]
EDM Council hires DoD veteran to lead FIBO standards work
The Enterprise Data Management Council has appointed Dennis Wisnosky to lead the implementation process for its Financial Industry Business Ontology – FIBO – suite of standards. Wisnosky is a veteran of the data management world, having previously acted as the chief technology officer and chief architect in the US Department of Defense Business Mission Area, […]
Commerzbank adopts visual security tool for mobile payments
Germany’s Commerzbank has adopted a visual transaction signing tool from British security firm Cronto for its online banking customers, designed to protect against Trojan malware.
New York techies most bullish about job prospects – but not bonuses
Technologists in financial services are the least loyal to their employers, even though they also have the worst perception of the economy and of their employment prospects.
Jyske Bank goes live with SmartStream corporate actions tools
Danish bank Jyske Bank has gone live with corporate actions technology from SmartStream.
Nasdaq OMX helps Polish clearing house prepare for EMIR
Polish clearing house KPDW CCP has deployed technology from Nasdaq OMX to help it meet the European Commission’s new EMIR rules on OTC derivatives. Under EMIR, the majority of OTC derivatives will have to be centrally cleared via central counterparties. The rules are intended to reduce systemic risks in financial markets by removing the possibility […]
Swedbank and SIX first to back Bloomberg PolarLake EDM service
Swedbank has become the first live user of Bloomberg PolarLake’s managed service model for enterprise data management.
BAML targets Asia Pacific treasury management
Bank of America Merrill Lynch has launched a treasury management reporting tool, CashPro Accelerate, in Asia Pacific.
Funds managers sign with Eurex for OTC derivatives clearing
Next month, the European Commission’s EMIR regulation on the central clearing and reporting of OTC derivatives is due to take effect in Germany. Investment managers Insight Investment and OFI Asset Management have begun clearing OTC derivatives on Eurex via its new service, EurexOTC Clear.
New BAML trading system aims at “disillusioned” investors
Bank of America Merrill Lynch is seeking to attract long-term investors who have become disillusioned with equity markets. Its new trading system, Instinct Natural, is a crossing network that is clearly geared towards customers that want to trade in blocks. But market participants have expressed concerns about its potential to meet the needs of long-term investors.
National Bank of Abu Dhabi rewires banking system
The National Bank of Abu Dhabi is strengthening the resilience of its internal technology as it seeks to embrace mobile and expand its coverage beyond the United Arab Emirates.
Industry veteran jumps ship to mobile operator payment venture
Weve, the advertising and commerce joint venture between mobile network operators Vodafone, O2 and EE, has hired payments industry veteran David Sear as its permanent chief executive.
SEPA …
Cover Story: The SEPA end date is now just a year away. Is everybody ready? Of course not.
Japan Exchange merger attracts algo trading specialists
As Asian markets continue to lure international investors, participants on Japan’s new Exchange will now be able to get market access and algorithmic trading tools from data and analytics company S&P Capital IQ, which has chosen to locate itself at KVH’s datacentre in Tokyo.
Mobile to dominate rise in retail bank IT spending
Further evidence that bank IT spending is growing again comes from industry analysts at Ovum, which is predicting overall growth of 3.4% among retail banks, reaching $118.6 billion in 2013, as they focus on “customer satisfaction and revenue growth”.
Market abuse highlights vulnerable European equity market
The imposition of an £8 million fine against defunct Canadian day trading firm Swift Trade earlier this week illustrates the potential for abusive strategies that distort markets – and the need for a new approach from regulators, according to Matthew Coupe, director of regulation and market structure at NICE Actimize.
Exchanges: time for a rebuild?
Technical problems at Nasdaq and BATS have reinforced the impression among many market observers that there may be something seriously wrong with equity market structure. Recent history reads like a catalogue of disaster for many of the world’s most prominent trading venues.
Western Union: Expanding on all fronts
As the global payments markets changes, Western Union has plans to change with it. Massimiliano Alvisini, regional director UK, Ireland & Nordics explains how and why.
More than a third of euro transactions lack accurate SEPA data
New research from Experian shows that “only 65% of euro transactions have fully accurate destination routing data and 12% of electronic payments made to and from businesses in euros currently contain data errors”.
Report: State of the enterprise tablet market – the new age of mobile computing
The enterprise is experiencing massive changes as the major technology trends of cloud computing and tablets are intersecting to upset the balance of legacy computing environments.
NSD builds business intelligence as Moscow goes for gold
Russia’s central securities depository NSD is to get a complete business intelligence overhaul through a joint project with consultancy Optima Group. The deal should help bolster NSD as one of the key pieces in the government’s strategy to turn Moscow into an international financial centre.
CME gears up for European OTC deluge
As new rules for the central clearing of OTC derivatives loom ever larger on the horizon in both Europe and the US, technology is helping to make the transition easier – but the kind of contracts being traded may well change, according to CME Group.
Banish Missed Trade Misery …
A study shows that 62% of City traders “admit to missing key investment or sell opportunities because they didn’t keep track of time zone differences”.
