Fed Seeks Industry Input on Payment Improvements (Sept. 12, 2013)

Sept. 12, 2013 The Federal Reserve is seeking payments industry input on a set of new policy proposals to modernize and improve the nation’s payments system in the wake of rapid changes in technology and consumer expectations. Earlier this week, the agency released its Payment System Improvement – Public Consultation Paper, the purpose of which […]

BAML makes Percy Baliwalla head of transaction services sales

Bank of America Merrill Lynch has made Percy Batliwalla global head of sales for large corporates and financial institutions in global transaction services. Batliwalla will remain in Singapore and report to Paul Simpson, head of BAML global transaction services. Percy was most recently head of Asia Pacific GTS sales where he was responsible for sales […]

Boerse Stuttgart taps Nasdaq OMX trading engine

Germany’s Boerse Stuttgart has chosen Nasdaq OMX to provide it with a new trading engine, which it says will decrease latency and increase throughput for members on the exchange. The Stuttgart exchange is focused on corporate bonds and investment funds for private investors, and has an average volume of €370 million per day. The exchange […]

Euroclear and South Africa’s CSD plot fund platform

South African central securities depository Strate and Belgium’s Euroclear are planning a new collaboration to make South Africa’s mutual fund transactions more electronic –including the creation of a centrally hosted mutual fund settlement and custody platform.

Investors Pump Millions into M-Payment Companies Check and Paydiant (Sept. 10, 2013)

Sept. 10, 2013 The money keeps pouring in as two mobile payments players, Check and Paydiant, are the latest to report recent infusions of capital. Wellesley, Mass.-based Paydiant announced today that it has closed a $15 million round of funding from North Bridge Venture Partners, General Catalyst Partners and Stage 1 Ventures, among others. The new […]

US local banks sign up to Temenos T24 core banking cloud

US banks Clare Bank and Farmers Exchange Bank have chosen to install cloud-hosted core banking services from vendor Temenos, in a deal that the banks say will help them reduce costs and roll out products to customers more easily.

Bitcoin Dealers Seek Regulation in U.K., Startups Launch Bitcoin ATMs (Sept. 9, 2013)

Sept. 9, 2013 Financial institutions and Bitcoin companies met last week with several British government agencies, asking them to consider regulating the virtual currency so they can be used to promote commercial growth and encourage financial innovation. Representatives from Bitcoin companies and smaller FIs told officials that “big banks are blocking the creation of business […]

UK account switching rising – but still below par

Retail banking competition is likely to heat up over the next decade, with millions more people switching accounts every year, according to new research published by the Centre for Economics and Business Research. But current levels are still far behind those found in other industries such as electricity and gas utilities, the study found.