Nasdaq sees tech revenues climb

Market operator Nasdaq has seen revenues from its technology sales increase, with its Technology Solutions division, which makes up 27% of total net revenues reach $146 million in the fourth quarter of 2015, up from $4 million from the fourth quarter of 2014. The exchange’s Market Technology unit, which accounts for 13% of total net revenues, […]

NAB Pay rolls out on Android smart phones

NAB has launched its new mobile payment service NAB Pay, designed to enable customers to use their mobile phone to make purchases, without the need for a physical card. Customers with a compatible Android mobile device and a NAB Visa Debit Card have been able to start using NAB Pay from 25 January, available as […]

Electronic payment volumes and security fears rocket

A survey of more than 3,700 IT security practitioners from more than a dozen major industry sectors found 54% of those firms surveyed had a security or data breach involving payment data, on average four times in past two years.​ The research, independently conducted by the Ponemon Institute on behalf of digital security firm Gemalto, also […]

DTCC: Blockchain is “once-in-a-generation opportunity”

In a new whitepaper, the US post-trade infrastructure provider Depository Trust and Clearing Corporation (DTCC), has voiced its belief that the financial services industry “has a once-in-a-generation opportunity to reimagine and modernise its infrastructure” by employing blockchain in a coordinated manner. Blockchain is the transaction model used to transfer ownership of crypto-currency bitcoin. It was developed […]

‘Smart’ CRM sees investment from HSBC

Cognitive computing specialist CustomerMatrix, a co-founder of forum Cognitive Computing Consortium, has closed US$10.5 million in Series-B funding. The investment, one in a series of investments in artificial intelligence-like technologies in 2016, was led by HSBC, with participation from Aster Capital, and existing investors Newfund and True Global Ventures. CustomerMatrix, which offers a predictive engine called […]

Swift payments innovation initiative gains ground as 45 banks sign up

A total of 45 banks including Barclays, Citi, Deutsche Bank and many others have signed up to a new payments innovation initiative headed by Swift, which is due to launch early next year. Announced in December, the initiative aims to dramatically improve the customer experience in correspondent banking by increasing the speed, transparency and predictability of cross-border payments.

‘Modular’ financial services set to benefit consumers

Financial services are becoming “modular”, with digital distribution platforms, new product providers, alternative sources of capital and a growth in outsourcing likely to reshape the industry, according to a new report by global management consultancy Oliver Wyman.

Trust, data, and why marketplace lenders are here to stay

New peer-to-peer platforms that match lenders with borrowers are proving to be more efficient than banks at connecting those with money and to those that need money. Known as marketplace lenders, this new industry is still very much in its infancy, currently representing a tiny proportion of total loans compared to bank lending

Orange to launch mobile-only bank in 2017

French telecoms firm Orange is to create a new bank called Orange Bank together with French insurer Groupama, in a move the two firms say will help to break open the banking market using mobile phone technology.

Fintech: friend or foe?

While the mainstay of the financial services industry was busy dealing with the global financial crisis in 2008, start-up organisations in Silicon Valley, New York, London and other major financial and technology hubs were turning their attention away from social media plays and looking to reinvent financial services.

Nacha sets out to dispel ISO 20022 myths

US payments body Nacha has set out to dispel myths about the ISO 20022 financial messaging standard with a new white paper published as part of an education programme as the US looks to convert its ACH network to the standard.

Chinese fintech stars are rising, says global report

The UK has made a good showing in a new report, the Fintech 100, with 12 start-ups from the UK’s fintech eco-system featuring on the report’s 50 ‘Emerging Stars’ list – the most from any single country – but the Chinese are fast catching up.

Helping millennials chart today’s financial waters

Millennials – those highly sophisticated, tech-savvy men and women born between 1980 and 2000 – present enormous opportunities for banks and other financial institutions. Yet to be successful, these businesses must understand and meet the needs of a generation that grew up having it all, seeing it all, and being exposed to it all since early childhood – and that is no easy task.

Legacy systems – still the big barrier to banking innovation

Outdated legacy IT systems are a major stumbling block for traditional UK high street banks as they look to fight back against their often more agile rivals, widely known as ‘challenger banks’, who unhindered by complex, unwieldy IT infrastructures are typically better positioned to innovate.

Swift to launch global payment innovation project

Swift is planning to launch a global payment innovation initiative, which it says will dramatically improve the customer experience in correspondent banking by increasing the speed, transparency and predictability of cross-border payments. The platform is due to launch early next year.

Banking Technology Dec/Jan 2016 issue out now

The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.

Fintech investment switches to smaller projects

Financial institutions are increasingly switching their investment towards smaller, shorter, cheaper technology projects rather than large initiatives, according to the results of a new survey published by technology and PR consultancy CCgroup. The results also suggest that uptake of cloud services is rising as cost pressure push firms to lower costs.