News


Saxo Bank gobbles up Turkey business

Online investment bank Saxo Bank has opened an office in Istanbul, Turkey, following its acquisition of local broker Değer Menkul Değerler in May last year.

Regional differences colour IT spending priorities

Total bank IT spending across North America, Europe, and Asia-Pacific will grow to $179.2 billion in 2013, an increase of 3.4% over last year according to research and consulting firm Celent.

East Africa Exchange opens in Rwanda

The newly created East Africa Exchange, which is currently taking its first steps in Rwanda, is part of a regional integration project between Burundi, Kenya, Tanzania and Uganda that aims to boost liquidity and provide a commodities market for 130 million people across the region.

Obama Re-nominates Cordray as CFPB Director (Jan. 24, 2013)

Jan. 24, 2013 Wasting little time following his inauguration on Monday, President Barack Obama this afternoon has re-nominated Richard Cordray as director of the Consumer Financial Protection Bureau (CFPB). The confirmation process for the former Ohio Attorney General could be rocky, considering Obama’s appointment of Cordray last year during a congressional recess. “There were no […]

Regulators to Set Guidelines on FIs’ Social Media Activity (Jan. 24, 2013)

Jan. 24, 2013 With U.S. financial institutions increasingly using social media to market to and interact with consumers, federal regulators have set their sights on establishing guidelines for consumer protection and compliance over such channels. The Federal Financial Institutions Examinations Council (FFIEC) has issued a notice of proposed guidance and request for comment from the […]

Fiserv Survey: More Consumers Use Mobile Devices to Pay Bills (Jan. 24, 2013)

Jan. 24, 2013 The number of consumers  using mobile devices to pay bills is slowly gaining momentum, according to Fiserv Inc., a Brookfield, Wis.-based provider of financial services technology, in its fifth annual Billing Household Survey, which assesses bill payment habits of active online households and infrequent or non-Internet users. Though the percentage of households […]

Taiwan’s FTC Approves Mobile Payment Platform (Jan. 24, 2013)

Jan. 24, 2012 Mobile carriers around the world continue to join forces to enable mobile payments. On Jan. 23, Taiwan’s Fair Trade Commission (FTC) approved an application by five domestic mobile carriers and transit card provider EasyCard Corp. to jointly run a platform for mobile payment-related apps, according to the Central News Agency. Chunghwa Telecom […]

Report: Corporate Mobile Payments Reduce Costs by Up to 20 Percent (Jan. 24. 2013)

Jan. 24, 2013 The rise of corporate mobile payments is leading to some big saving for companies around the globe that are seeing reductions of up to 20 percent on their cash-collection costs, according to a new white paper by Mobile Money Consulting, a London-based advisory firm. Corporations in emerging markets are seeing the highest […]

Earnings Roundup: Google, TSYS (Jan. 24, 2013)

Jan. 24, 2013 Online search giant Google Inc. and payments processor TSYS recently released fourth-quarter financial results. Google reported revenues of $14.4 billion for the fourth quarter of 2012, an increase of 36 percent compared with $10.6 billion in the same quarter a year ago. Net income in the fourth quarter of 2012 grew 7.4 […]

Lloyds slashes another 940 jobs as cuts deepen

Lloyds Banking Group is to cut 940 more jobs, the latest in a series of savage headcount culls at major financial institutions. Separate announcements earlier this week confirmed 200 human resources jobs would be axed, and a further 175 cuts made in the Halifax branch network.

CGI in mobile alliance with Monitise

CGI, which recently acquired UK software house Logica, has formed a partnership with mobile banking and payment specialist Monetise to offer joint services for banking and payments companies using the Monitise platform.

Broker back-ends still outpaced by trading technology

Too many brokers are still using outdated methods such as email and telephone to confirm trade matches, undermining the advantages gleaned from high-performance trading technology, according to a new study by financial research firm Aite Group.

Chilean broker imports UK trading technology

Chilean broker Banchile, part of Santiago- based Banco de Chile, has deployed a brokerage platform from UK systems supplier Fidessa that will link it to international trading venues.

The Return of the Old-Fashioned Villain

The latest bi-annual Fraud Barometer from KPMG has shown a rise in individuals committing more traditional swindles such as Ponzi schemes, cheque fraud and procurement fraud. The findings are in broad agreement with figures from CIFAS, the UK fraud monitoring service, published last week

Information Mosaic makes Kunz chairman

Post-trade software company Information Mosaic has appointed Ulrich Kunz as non-executive chairman to help drive its ambitions to expand into analytics.

Google Powers Digital Coupons with Zavers (Jan. 22, 2013)

Jan. 22, 2013 Google Inc. is adding digital muscle to coupons with Zavers by Google, a paperless couponing system introduced earlier this month that enables consumers to capture coupons online and redeem them automatically through store loyalty cards, tracking their deals through a computer browser or any mobile phone. The system is designed to give […]

Telefónica Deutschland to Launch NFC Pilot (Jan. 22, 2013)

Jan. 22, 2013 Munich-based Telefónica Deutschland in mid-February plans to enable P2P funds transfers between its mobile phone service subscribers along with a new NFC pilot that will launch at the same time in Germany. The effort grew out of the mpass mobile wallet service, announced last year as a joint venture between Telefónica Germany, […]

PayNearMe Targets Small Billers with New Cash Payment Service (Jan. 22, 2013)

Jan. 22, 2013 Cash transaction network PayNearMe is taking its payment services small-time in a move the company thinks will pay off in a big way. The Sunnyvale, Calif.-based firm, founded in 2009 and led by CEO Danny Shader, has launched PayNearMe Express, a self-service version of its existing cash payment system, aimed at enabling […]