News


Will Android Pay Make Banks Line Up for Google Wallet? (May 26, 2015)

Strong signs suggest Google Inc. this week will announce Android Pay, its new mobile payments API for developers, likely revitalizing prospects for Google Wallet, and kicking off a summer of fresh m-payments competition, putting the heat on Apple Pay and other emerging approaches.

Report: Blockchain Could Benefit Banks (May 26, 2015)

Issued by the European Banking Association (EBA), the report cites several possible use cases in which cryptotechnology can help banks reduce costs, improve product offerings and speed new product development.

CFPB Updates Consumer Complaint Manual (May 26, 2015)

The CFPB this month updated its Company Portal Manual, which explains in detail the process when consumer complaints are submitted to the bureau as well as the procedures companies must follow if they wish to respond to a complaint.

Company on the Move: Limonetik, New U.K. Subsidiary

Limonetik, a Paris-based global digital payments provider, has expanded internationally with a new subsidiary in the U.K., Limonetik UK Ltd. The company also has appointed Clive Williams managing director and Masha Cilliers principal consultant.

FCA sets out terms for probe into corporate and investment banking

The UK’s Financial Conduct Authority’s study into competition in investment and corporate banking will focus on choice, transparency, bundling and cross-subsidisation in debt and equity capital markets, mergers and acquisitions and acquisition financing. It will also consider links between competition in these primary market services and related activities such as corporate lending and broking, and ancillary services.

APEX Europe: Tapping New Opportunities for Prepaid (May 21, 2015)

With enviable annual growth rates across Europe—27 percent from 2010-2017—providers tapping new market opportunities, and digital and physical channels converging, prepaid is destined to become everyday money, according to Jason Field, head of prepaid product management, Europe, MasterCard.

Axis Bank Offers P2P Payments with Ping Pay (May 21, 2015)

Customers of India’s Axis Bank are now able to send money to each other through Facebook, messaging apps Twitter and WhatsApp, email and phone contact lists using Ping Pay, a multi-social media app developed by Fastacash, a Singapore-based social payments vendor.

Misys adds Islamic banking capabilities to platform

Banking technology vendor Misys has launched an Islamic banking platform called Misys FusionBanking Essence Islamic, as part of a plan to capitalise on the 17% annual growth in Islamic banking worldwide.

Leeds Building Society targets “customer engagement” with HP deal

Leeds Building Society is to revamp its customer engagement tools through a ten-year deal with HP Enterprise Services, which will encompass a number of independent software vendors working on different parts of the business. The deal builds on the earlier deal between the two firms in 2013, which focused on the building society’s core banking platform.

Daiwa Securities switches post-trade platforms as Hong Kong gears up for growth

Japanese investment bank Daiwa Securities has transferred its Hong Kong business onto a new post-trade processing platform built by specialist vendor Torstone. The bank says the move is part of a long-term plan to revamp its back-office technology in the city, as Hong Kong steps up its role in the integration of China’s capital markets into the global mainstream.

Walmart Accepting Alipay m-Payments in China (May 19, 2015)

Walmart is making bold moves with mobile payments in China, where it’s signed on with e-commerce giant Alibaba to accept mobile payments via the Alipay Wallet in 25 of its 410 Chinese outlets, the Arkansas-based retailer announced this week.

PayPal Enters into Consent Order with CFPB (May 19, 2015)

PayPal, reportedly, has agreed to a consent order with the CFPB that would require the company to refund $15 million to consumers who were affected by alleged practices that included, among others, enrollment without authorization and deceptive advertising for its PayPal Credit program, previously known as BillMeLater.

FIX protocol dominates in post-trade workflow

Three-quarters of market participants use the FIX protocol for confirmation and affirmation of their transactions, according to a new survey released by financial industry standards body the FIX Trading Community.

Moven, Accenture to jointly develop technology for banks

Accenture and Moven, the online-only bank founded by Brett King, have signed a deal to jointly develop new digital banking services — including services for the established banks. The two firms say their partnership will be useful to the larger banks because it will help them to cut costs and roll out digital services to their customers faster.

Senior Lloyds Bank, The Bancorp, PayPal executives share insights on future of payments at the UK’s largest payments technology event

PayExpo 9 & 10 June 2015, ExCeL, London www.payexpo.com “If meeting our customers’ needs means we should embrace alternative currencies and payment methods, then we should listen and adapt,” says Terry Cordeiro, Head of Proposition Development – Digital, Transformation at Lloyds Bank. He said this when discussing banking and payments issues ahead of his presentation […]

Indian bank launches WhatsApp, Facebook, Twitter mobile payments

India’s Axis Bank has released a mobile payments service called Ping Pay, which allows customers to send money to each other using Facebook, Twitter, WhatsApp, email or phone number. The bank says the service will help it to reach young consumers and smartphone users.

Cyber security tops DTCC risk barometer

US post-trade utility the DTCC is reporting that almost half of the respondents in its most recent Systemic Risk Barometer Study cited cyber security as their top concern, making it the single largest fear and doubling its rating compared to just 12 months ago.