The U.S. purchase volume of credit, debit and prepaid cards increased 7 percent in 2016 compared with last year, according to The Nilson Report. That purchase volume hit $5.648 trillion last year, with the volume from American Express, Discover, Mastercard, and Visa credit cards increasing 8 percent year over over to reach a combined $3.059 trillion—the first time that figure has topped $3 trillion.
“The first thing I do in the morning is brush my teeth and sharpen my tongue.” The acidic words of American writer Dorothy Parker. But sharp tongues will now come under the scrutiny of a new digital reputation management service. Be nice everyone and form a giant group hug. Geezeo Interactive, the marketing arm of […]
U.K. challenger bank Starling is staying busy with the launch of its real-time mobile offering, Starling Payment Services. The new division of the bank will offer sponsorship access to the U.K.’s major payment schemes, enabling other banks, payment service providers and fintech companies to use real-time payments from the summer.
Spreadsheets, say some, should just fade away into the dustbin of innovations’ past, but in my opinion, they might be the best bridge between the “old way” of working and the new.
Facing increased competition from financial services upstarts and tech firms, banks are doubling down on application programming interfaces (APIs) as a competitive tool, a new report shows. Paybefore (Banking Technology‘s sister publication) reports that an Aite Group study canvassed product and digital channel managers at Asia-Pacific, European and North American banks, and found that those […]
In an increasingly globalised economy, payments have struggled to keep up and pressure is mounting on the traditional correspondent banking model.
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
I grew up in Darwin, northern Australia and dreamt of playing hockey for my country. Today I live in Glasgow, thousands of miles away from the sunny climes of home and head up the UK operations and marketing for regtech firm Encompass.
The payroll card industry received high marks for its standards and its ability to “stretch beyond the basics,” according to a new report from the Center for Financial Services Innovation. But CFSI’s first-ever “Payroll Industry Scorecard” gave the industry an average mark for its ability to provide additional services that “improve customers’ lives.”
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Amlak in core banking software overhaul with Temenos and NDC EXCLUSIVE. T24 will replace Silverlake Axis’ SIBS. Temenos MarketPlace gets boost with new services and leadership Targets open banking and PSD2 services. Trio tussle to win Payments Canada’s […]
Temenos has launched open banking and Payment Services Directive (PSD2) targeted services on its MarketPlace. The aim, says the vendor, is “to facilitate the exchange of value between banks and fintech companies”. MarketPlace is “customer driven”, says Ben Robinson, group chief strategy director of Temenos – i.e. the vendor proactively seeks out solutions that customers […]
Prepaid providers are at a crossroads: They can create products that carry relative high fees, or craft consumer-friendly programs that promote financial health. Here’s a case for doing the latter.
To coincide with its just released and first “Payroll Industry Scorecard,” CFSI is separating fact from fiction when it comes to payroll cards, which continue to face scrutiny by state regulators and the media.
To the outside observer the insurance industry may look very conservative with dominant global companies and local players operating in the way they have done for years and with very little interaction with their customers. But this is changing.
The digital edition of the spring 2017 issue of Pay Magazine is now available and it’s full of insights and information to help move your company forward. A theme of the spring issue is game-changing technology—and the innovators, products and companies behind it. This edition of Pay Magazine includes an interview with The Bancorp’s Jeremy Kuiper, who discusses some of the major shifts occurring in the industry.
Paybefore’s Pay Magazine Spring 2017 issue out now.
The latest fintech funding round-up featuring Token, Ongo, National Bank of Canada (NBC) and a bunch of venture capitalist firms.
As banking continues to go digital, online innovators and niche players in North America are getting personal by adding social activities to their customer services.
Save the date! 18th Annual Banking Technology Awards will take place on 6 December 2017 at the elegant Millennium Hotel London Mayfair. Visit our newly updated awards website for more info.
GoHenry, a UK-based digital banking solution to help young people manage their money, has appointed fraud prevention firm Featurespace to safeguard customers’ accounts. GoHenry was founded by a group of parents to help young people aged six to 18 “learn good money habits”. It is a subscription service, which offers a prepaid debit card and […]
India-based software vendor Intellect Design Arena is to provide its Intellect Quantum Central Banking System (QCBS) to Central Bank of Armenia.
Many have proclaimed that 2017 will be “the year of artificial intelligence (AI)”, with a 300% increase in investment in its technologies predicted compared with 2016. Start-ups with AI at the core of their business in particular will be looking to benefit from this surge in investment capital, as they did last year when 550 raised $5 billion in funding.
Fintech investment fell in 2016 for the first time. On the bright side? Banks are becoming much more active in the space, putting money in 61% more start-ups.
Google is banking on mobile apps to boost its mobile wallet. The Android Pay parent has linked that service to a handful of banking apps, giving consumers the ability add their cards more quickly to the mobile wallet.
You need to tell your customers you’ve been hacked. Now what?
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Mastercard gets approval to buy VocaLink for $920m Deal expected to close in coming weeks. Bank of England implicated in Libor rigging by secret recording Well, it was secret. FIS sheds Ambit Private Banking business FIS inherited it […]
The cybersecurity wars of the future will be fought by good artificial intelligence (AI) bots and bad ones, with the rest of us just watching to see who wins.
Following the announcement WhatsApp will enter into the mobile payments arena, new estimates from Juniper Research claims Apple Pay contactless users will nearly double over 2017.
White-label digital banking services provider Urban FT is joining forces with Sunrise Banks.
Fintech entrepreneurs still have a few weeks left to win financial backing from two big players in the payment space. The Center for Financial Services Innovation (CFSI) and JPMorgan Chase’s Financial Solutions Lab (FinLab) plan to award $250,000 to programs that help consumers build financial health, “with a special focus on those communities that are frequently underserved, such as older Americans, communities of color, people with disabilities and products that address the gender wealth gap.”
Financial consultancy firm DeVere Group has launched an app-only e-money service as it pushes deeper into the banking and fintech sector. As Banking Technology reported last month, the group took advantage of Lithuania’s ambitions to attract fintech firms and set up a new office in the capital Vilnius. This was preceded by the unveiling of […]
UK challenger bank Starling has unveiled its developer portal to enable third parties to access customer data and build on top of its platform using APIs. As Banking Technology previously reported, Starling launched its mobile app and is welcoming the first customers through its digital doors to join a beta testing programme. It also recently […]
Cyberattacks have been dominating newspaper headlines for some time now. Whether it’s losing access to PayPal, a distributed denial of service attack on Lloyds Group, or Tesco Bank customers losing £2.5 million to hackers, the threat of a cyberattack in 2017 is so great that it’s not a case of if, but when one occurs.
O-Bank (formerly Industrial Bank of Taiwan), is keen to transform itself into “a nimble and digitally-focused boutique lender” as it gears on for an IPO.
UBS is selling its risk and performance analytics service, UBS Delta, to StatPro Group, a provider of cloud-based portfolio analysis and asset pricing services for the global asset management industry.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Distributed ledger technology (DLT) consortium R3, together with five of its members and financial resource management specialist HQLAX have built a collateral lending solution for liquidity transfers. The solution is based on R3’s flagship platform, Corda, and is “an operating model for a digital collateral receipt (DCR) lending marketplace”.
A new report from the International Bar Association has outlined the risks and rewards of artificial intelligence (AI), which while bordering on scaremongering also makes some good points.
With the growth of “mobile working” and an increasing number of business applications migrating to the cloud, the corporate perimeter has become more porous and vulnerable, driving demand for solutions that manage access and user identities securely and efficiently. This is where identity access management (IAM) technologies come into play. ING’s Sicco Boomsma explores.
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
