VocaLink, the payment systems provider, has signed a five-year deal with China’s UnionPay International, which will enable UnionPay cardholders to access ATMs in the UK and continental Europe. Under the deal, VocaLink will provide ATM transaction processing and UnionPay sponsored access. VocaLink says on average, the value of UnionPay card withdrawals from UK ATMs are […]
Bloomberg has applied to the Global Legal Entity Identifier Foundation (GLEIF) to become a local operating unit (LOU) of the Global LEI System (GLEIS). By submitting this application, Bloomberg moves to the candidate stage of the LOU accreditation process and joins an existing network of LOU’s monitored by GLEIF. Peter Warms, senior manager of fixed […]
Swift has warned its customers about a newly identified malware found at a “commercial bank”, which it has declined to identify. This latest development follows yesterday’s (12 May) news where Swift rejected the allegations made by Bangladesh Bank and Bangladesh Police’s Criminal Investigation Department (CID) officials about the first cyber fraud scandal in February. Details […]
With news on crowdfunding and investment appearing with relentless regularity, here’s a round-up of key events to save you time. UK challenger bank Tandem has now revealed the money it’s raised and its valuation – all in preparation for a crowdfunding campaign that starts on 20 May. Money raised comes to £22 million and it […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Perception brings to market new core platform UK credit unions, lenders and start-up banks take note. ING adds some zing to start-up ring It’s working with 45 start-ups on banking innovation. Punjab National Bank to modernise enterprise data […]
Vietnam-based subsidiary of France’s major financial group, BPCE, is implementing a new core banking system, Sopra Banking Amplitude. The new solution will cover front-to-back office operations of the bank, including digital banking functionality. The system is supplied by Sopra Banking Software. The project follows the reorganisation of BPCE’s operations in Vietnam, with the business moved […]
Banking giant Barclays has announced the launch of its own mobile contactless on Android, and confirmed it will not be joining Android Pay, reports Tim Skinner at Telecoms.com. The bank has been one of the UK’s more innovative financial institutions harnessing mobile payments, and specifically the integration of payment technology into wearable or alternative devices. […]
A Blackhawk Network study finds that more consumers (44 percent) are buying gift cards for themselves, most consumers are familiar with digital gift cards and other innovative payment methods are catching steam, while checks and even cash are declining.
Walmart has filed a lawsuit against Visa Inc. over claims that the payment network is forcing Walmart to offer customers the option to verify EMV debit card purchases via signature—a method the retail giant says is more prone to fraud than PIN verification.
As the country’s Unified Payments Interface threatens to leapfrog mobile wallets in the country, one mobile wallet provider wins a capital gain, while another wallet program launches.
Telefónica Germany, in association with Fidor Bank, will be launching its mobile banking offering, “O2 Banking”, in Germany in late summer 2016. Matthias Kröner, CEO of Fidor Bank, says the collaboration offers “the best of two digital worlds”. Namely, banking services via a mobile app and additional services from an O2 mobile contract. Fidor says […]
Royal Bank of Scotland (RBS) is planning to cut around 200 more jobs at its UK retail bank, according to sources close to the development. The latest round of job cuts follows the announcement last month that 600 jobs were to go in the UK. Rob MacGregor, national officer at the Unite trade union, says: […]
Royal Bank of Scotland (RBS) is powering its new Open Experience centre with Red Hat technologies, including the Red Hat Mobile Application Platform and OpenShift Enterprise, Red Hat’s web-scale container application platform. Open Experience was launched by RBS in February at its HQ in Edinburgh (UK) to pursue “innovative new technologies for the bank and […]
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
Swift has rejected the allegations made by Bangladesh Bank and Bangladesh Police’s Criminal Investigation Department (CID) officials to Reuters about the cyber fraud scandal in February. A few months ago, hackers stole more than $100 million from the country’s foreign currency reserves. In the ensuing furore, the head of Bangladesh’s central bank, Atiur Rahman, resigned; […]
IDBI Bank (formerly Industrial Development Bank of India), a state-owned bank in India, is going through a major core banking platform refresh. The bank is currently running on an old version of Infosys’ Finacle, version 7.x. Furthermore, the system was deployed in separate installations for domestic operations (retail and corporate), commercial lending (corporate finance), Dubai […]
Blackhawk Network was ranked 18 of 25 “non-tech” firms in the Bay Area by the Bay Area News Group in its 2016 “Silicon Valley 150” (SV150) list, a four-spot jump from Blackhawk’s ranking last year.
Payments solutions provider JetPay Corp. has appointed Diane Faro to its board of directors.
The Financial Crimes Enforcement Network (FinCEN) presented its second annual Law Enforcement Awards in a ceremony at the U.S. Department of the Treasury on May 10.
Gene Fredriksen, chief information security officer for credit union service organization PSCU, has been selected to help represent the nation’s credit unions in the Global Forum to Advance Cyber Resilience, a public/private initiative bringing together industry, business, government and critical infrastructure leaders to operationalize cyber resilience and cybersecurity.
San Francisco-based Affirm has hired former eBay vice president Carl Gish to be its first chief marketing officer.
Clutch Group, a global legal, risk and compliance analytics and consulting firm, has hired Priti Parekh to serve as the company’s Global COO.
Chilean biometrics company TOC has joined the FIDO Alliance, the association aiming to develop global standards for online authentication based on methods that are more secure than simple passwords.
Barclays is providing £1 million in funding to UK-based AccessPay to support its growth and further develop their relationship. Access Systems (trading as AccessPay) provides a cloud-based connectivity layer between a business’s finance systems, their banks and “all of the major” UK and international payment networks such as BACS, Swift, SEPA, Faster Payments and Direct […]
Haitong International Securities Group has gone live with the second stage of the middle office revamp. The underlying tech is the Syn capital markets platform, provided by GBST, an Australia-based securities processing software vendor. Haitong signed for Syn last year and reported the first go-live in November. It has adopted the Syn platform as it […]
The European Banking Federation (EBF), the Global Financial Markets Association (GFMA) and the International Swaps and Derivatives Association (ISDA) are planning global policy measures on cybersecurity, data and technology through a new set of common principles. In its paper, “International Cybersecurity, Data and Technology Principles”, the organisations want to create a “starting point for dialogue […]
Nordea says it will be the “first” bank in Finland to offer its customers an equity-based crowdfunding service. It has developed an online crowdfunding platform that will match entrepreneurs seeking financing with investors; and will be linked to a book-entry system. The service will be launched in the next few months. The bank says the […]
The Depository Trust & Clearing Corporation (DTCC) and the Korea Exchange (KRX), the securities exchange operator in South Korea, have signed a memorandum of understanding (MoU) to co-operate with each other on a trade repository solution in South Korea. Under this deal, both organisations will explore linking DTCC’s global trade repository (GTR) solution directly to […]
Stanbic IBTC Bank in Nigeria is upgrading its core banking system, Infosys’ Finacle. The new version of the system will go live on 16 May, 2016 – but in the run-up to this the bank will be limiting its operations over the weekend 13-15 May. Stanbic IBTC will close its branches to customers on Friday […]
IBM and SK Holdings C&C, a South Korean IT services company, are planning to bring IBM’s Watson cognitive technology language services to South Korean banking. The alliance, which includes training Watson to understand Korean, is designed to “dramatically accelerate” the adoption of cognitive computing throughout the region, giving South Korea-based developers a set of localised […]
One of Canada’s largest credit unions, Coast Capital Savings CU, is looking for a full-time software developer experienced in Temenos’ T24 core banking system. What’s the job? Writing code, developing and customising the credit union’s core processing platform, T24. “That sounds pretty simple but working on the software platform that powers our core banking operations […]
Forget traditional measures like credit scores and net worth. A new report from the Center for Financial Services Innovation (CFSI) identifies eight key indicators that it says provide a better understanding of consumers’ financial health that can help financial services providers and nonprofits design products and services to help consumers get ahead.
The mobile payment service, once confined to American Express cardholders, now is available to MasterCard, Visa and Interac customers. Apple has signed deals with four banks for Apple Pay.
Dashlane, a password manager with offices in New York City and Paris, announced on May 9 that its digital wallet has surpassed $5 billion in online consumer spending. Could this digital identity company become a leader in the wallet wars?
The sale of the unit to the restaurant management technology company comes amid financial woes for Groupon. The deal makes Upserve the industry’s largest cloud-based restaurant management platform, serving more than 6,000 restaurants in every U.S. state, according to the company.
The State Bank of Pakistan has issued new prepaid card regulations in a bid to promote prepaid for financial inclusion and enhanced security. Meanwhile, Stockholm-based mobile payment specialist Seamless Distribution AB has been granted an e-money issuing license by Sweden’s financial supervisory authority for its SEQR mobile wallet.
Chennai-based Indian Bank has issued expressions of interest (EOI) for a new business process management (BPM) system and new middleware. The EOI for middleware closed on 5th May, whilst the closing date for BPM submissions is 14th May 2016. The bank will then proceed to the request for proposal (RFP) stages for both solutions. Indian […]
Punjab National Bank (PNB), one of India’s “big four” banking groups, is looking to renovate its data management set-up. It issued an RFP “to revamp existing functionality” either by enhancing its current enterprise data warehouse (EDW) or to deploy a new one. The RFP was issued late last year, for an end-to-end solution for EDW […]
Dutch bank ING has revealed it’s working with 45 fintech start-ups on banking innovation, such as money management, payments, lending and mobile on-boarding. Ralph Hamers, CEO of ING Group, says of the 45 fintech firms, these include seven start-ups working on their proof-of-concept through the ING Fintech Village initiative in Belgium, and four through the […]
UK-based Metro Bank will roll out Glory Global Solutions’ Vertera 6G teller cash recyclers (TCRs) across the bank’s new locations as well as replace older technology in existing outlets. Metro Bank will set up a number of new branches in the course of 2016 and 2017. The bank, which opened for business in 2010, currently has […]
