Ovum survey reveals bank shortcomings

Banks are not responding quickly enough to the rapidly changing requirements of corporate treasurers, according to new research from Ovum. Corporate requirements are expected to change further as real-time payment infrastructures are further rolled out in the main economies in Europe and the US.

Banks look to immediate payments to drive revenue

Immediate payments is a key revenue driver for 66% of banks in markets with IP schemes, according to new benchmark data from processor ACI Worldwide and UK consultancy and Banking Technology’s sister company Ovum. Paybefore, Banking Technology’s sister publication, writes that the benchmark report, “2017 Global Payments Insight Survey: Retail Banking,” also found that although […]

When worlds collide: fintechs vs financial institutions

The opportunity for traditional banking processes to be transformed that is presented by innovative financial technology (fintech) developers is at risk of being squandered in many cases because of cultural differences between large inflexible enterprise culture and the enthusiastic approach of the start-up developer world.

Samsung banks on backward compatibility in payments play

Samsung has announced a new mobile payment service called Samsung Pay, that it claims will break the obstacles to mobile wallet adoption by being compatible with older point-of-sale terminals through the use of Magnetic Secure Transmission, which allows terminals using traditional magnetic stripe technology to accept payments.

Lloyds closures highlight shift to digital banking

Lloyds Banking Group’s decision to close 200 branches and axe 9,000 staff was to be expected – but the firm’s digital plans highlight the changing nature of retail banking and the bank branch in general.

Half of UK traders still flout mobile voice recording rules

More than two years after the UK’s FSA introduced rules on mobile call recording for financial institutions, more than half of those affected still have not rolled out a solution – leaving many at risk of enforcement action, according to a new report by analyst firm Ovum and computer telephony specialist Teleware.

Barclays customer data debacle raises difficult questions

Revelations that Barclays customer data was being sold on the black market to corrupt City traders have caused the bank some embarrassment over the weekend– but the incident raises more questions than it answers, according to observers.

Social media: handle with care

Social media can add value for banks, but they need to be careful that the risk of damaging their brand does not outweigh the potential benefits, according to Jaroslaw Knapik, senior analyst, financial services technology at Ovum.