The holiday season is upon us and many shoppers plan to give gift cards this season, according to a consumer trends survey by the National Retail Federation. What’s more, spending on gift cards this year is expected to outpace spending in 2015.
Nasir Zubairi has been named CEO of the Luxembourg House of Financial Technology (LHoFT), a new public-private initiative aimed at advancing Luxembourg’s fintech and financial services industry.
San Francisco-based personal finance company NerdWallet has named Tapan Bhat as its first chief product officer.
Online payment service provider PayU has appointed Matthias Setzer as its global chief commercial officer.
The Prepaid International Forum (PIF) has announced that Mastercard and Neopay have become benefactors of the 10-year-old prepaid financial services trade association.
Stockholm-based payments provider Trustly has hired Ulrica Falkenberg as head of people operations, where she will be tasked with supporting the company’s growth and doubling the staff from 130 to 250 in the next year.
It’s infographics time! A great compilation of fintech companies, showing how we’ve gone from graph paper to personal data algorithms – and everything in between.
Startupbootcamp FinTech London will host its Demo Day on 1 December for the third year with ten firms lined up for action. The ten companies taking the stage will showcase their fintech, ranging from SME banking, regtech, chatbots, artificial intelligence (AI) and blockchain. Francisco Lorca, MD of Startupbootcamp FinTech London, says the variety of the […]
German start-up Cookies crumbled, but Swedish payments provider Klarna has rumbled into action to take on its tech assets and employees. As Banking Technology reported this month, Cookies ended its short life as a peer-to-peer (P2P) payment app and applied for insolvency. At that time, Cookies co-founder Lamine Cheloufi said the other co-founder, Garry Krugljakow, […]
Morgan Stanley and National Australia Bank (NAB) are understood not to be renewing their membership with the R3 blockchain consortium.
IBM has completed the acquisition of Promontory Financial Group, a risk management and regulatory compliance consulting firm. As Banking Technology reported in September, IBM planned the purchase to boost IBM Watson’s cognitive technology. IBM adds that the acquisition complements its industry platforms business. These platforms will integrate IBM Cloud, Watson and capabilities from across “digital […]
The CFPB has filed a motion for a rehearing before the entire appellate court after a three-judge panel of the D.C. Circuit Court of Appeals sent shockwaves in October when it determined the structure of the bureau is unconstitutional because it’s led by a single director who can only be removed by the president for just cause.
A European plan for new online transaction authentications has come under fire from Visa, which says the proposal will make online checkout needlessly complicated for consumers.
Small business might want to accept payments via mobile wallets, but most of those merchants worry about the cost of upgrading their systems to do so, according to new survey from Samsung Electronics America.
Alibaba’s Alipay has taken the crown of the world’s most popular online payment method, accounting for 44 percent of global e-commerce spending and projected to grow to 60 percent by 2020, according to a new report from U.K.-based payments processor Worldpay.
Fundinfo says its new cloud-based fund selection system, Digital Advisor, considers “investor’s emotional preferences” in addition to analysing active and passive funds.
Apple could be adding Siri’s functionality into its iMessage service for P2P payment transactions, according to a recent patent published by the US Patent and Trademark Office. The patent says that “one or more of the participant users can select to utilise a virtual assistant to assist the participant users with tasks during the communication […]
Barclays is launching the UK’s “first” contactless mobile cash service. Customers can withdraw up to £100 in-branch, with a tap of their Android smartphone or contactless debit card. Ashok Vaswani, CEO of Barclays UK, says its customers “now expect to be able to use their smartphone to make their everyday purchases” and “we want taking […]
Dinosaur Merchant Bank, a UK-based investment management, brokerage and advisory firm, has deployed Ancoa’s surveillance platform to monitor its equity trading activity for instances of market abuse and to meet their obligations under Market Abuse Regulation (MAR).
Android Pay is now live in Poland – the first country on continental Europe to launch the service.
Santander has decided to leave the R3 blockchain consortium, which it joined last December. Meanwhile, R3 has slashed its fundraising target to $150 million from the original $200 million.
Israel-based Bank Leumi’s credit card subsidiary, Leumi Card, will launch a “first-of-its-kind” integration of a mobile security product based on behavioural biometrics. Using Israeli start-up SecuredTouch’s solution embedded in the Leumi Card app, it will eliminate the need for passwords. SecuredTouch’s technology allows user identification based on a “unique” personal usage profile within the mobile […]
A little more than a year after the bank announced plans for its Chase Pay mobile wallet—and just in time for Black Friday—customers of the U.S.’s largest bank by assets finally can use the Chase Pay app in stores, online and for in-app payments. The industry will have to wait and see if this is the watershed moment for mobile wallet adoption, some payments experts have predicted.
Wirecard has begun issuing in the Netherlands the pay2d Visa card, a virtual prepaid card for online payments. Wirecard, which worked on the card with fintech firm 3V Benelux B.V., said this marks its first virtual prepaid card rolled out in that country.
The U.S. Supreme Court on Nov. 17 ruled in favor of allowing an antitrust class-action lawsuit against Mastercard, Visa and their bank partners proceed after a lower court ruled that the consumer plaintiffs had no standing, according to a Reuters report.
Consumers in southern Nevada now are able to purchase transit passes using the recently launched rideRTC app for Apple and Android smartphones.
London Stock Exchange (LSE) is to acquire 100% of the issued share capital of business and financial data provider Mergent. The Mergent business will form part of LSE’s information services division, which includes FTSE Russell, a provider of indexes, and real-time and reference data products. Mark Makepeace, group director of information services and CEO of […]
HSBC business customers in the UK can now use Touch ID fingerprint technology to access their account and balance information through the HSBCnet mobile app. The feature uses a recognised fingerprint instead of passwords. It is now available for UK businesses using the app, before the service is expanded to include business internet banking mobile […]
Goldman Sachs has dropped out of the R3 blockchain consortium, according to the Wall Street Journal. The bank was one of nine original members of R3, but let its membership lapse. A spokeswoman for Goldman Sachs told the Wall Street Journal that it will continue to work with blockchain. No other details were forthcoming. As […]
SIX Payment Services, Bank of China and UnionPay International have joined forces for a new credit card, targeting Chinese travellers in Europe. The “Europe Card” card is aimed at Chinese consumers traveling to Europe for business or leisure purposes. SIX says as an incentive during the launch phase, cardholders are eligible for up to 5% […]
Italy’s ICCREA Banca has gone public on its project to modernise its trading business ops with Misys. Misys is providing its FusionCapital Kondor and Summit treasury and capital markets (TCM) solutions to the bank. The Summit system has been running at ICCREA for over a decade. Kondor was selected by the bank in 2013, Banking […]
Australia’s ME Bank has launched a new internet banking service in a joint project with Sandstone Technology. The new service builds on Sandstone’s digital BankFast platform and includes “enhanced” security and a new Liferay portal based dashboard; supporting customisation and inclusion of superannuation account details along with bank account details. ME Bank’s brand and digital […]
Vancouver City Savings Credit Union (Vancity), the largest credit union in Canada, has gone live on Temenos’ T24 core banking system. Vancity chose Temenos back in 2010. Consultancy firm VenuxSoft, which provides support for Temenos T24 in North America, assisted with the implementation. This included requirements analysis, software development, quality assurance, support and training. Vancity […]
Metro Bank has launched a new online banking platform for its commercial banking customers. It is based on the Backbase Onmichannel Banking Platform.
Dutch mobile-only challenger bank Bunq is using Veridium’s hand recognition software for its new app. The app will now use VeridiumID and its software, 4 Fingers TouchlessID. With their collaboration, Veridium and Bunq say this is a “world first” for “safe” mobile banking. Todd Shollenbarger, COO of Veridium, calls Bunq’s banking platform a “market disruptor”. […]
UK-based high street bank NatWest (part of the RBS group) has trialled the BioCatch behavioural biometrics technology for business customers and is planning to pilot the solution for retail clients next year.
The UK’s Financial Conduct Authority (FCA) says there is weak price competition in a number of areas of the asset management industry. The FCA launched the market study in November 2015 to assess whether competition is working effectively. The UK’s asset management industry is the second largest in the world, managing almost £7 trillion of […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! FNZ to build new BPO centre EXCLUSIVE. For Société Générale’s private banking business Mizuho Bank gears up for new core banking system go-live Keen to modernise after large-scale system failures in 2011. Big three explore blockchain for consumer […]
Société Générale and Oberthur Technologies (OT) have teamed up to launch a new form of three-digital codes for improved card security. Following “successful” testing among more than 500 people, the solution – called OT Motion Code – replaces the three-digit security code usually printed on the back of the card with a mini-screen displaying a […]
ISITC Europe, a voluntary, non-profit organisation promoting operational efficiency, harmonisation and education in the capital markets space, will turn 25 years old on 26th January 2017.
