Clinkle Corp., the darling of investors and the media in recent months, appears to have hit some potholes on the road to launching a payment app that reportedly enables users to transfer funds between individuals and groups, and emphasizes social media.
Digital gift card provider Kiind has found a way to make hay from the fact that about 10 percent of gift cards go unredeemed.
Mobile carrier billing company Fortumo today is launching mobile operator billing in Indonesia, the fourth-largest country in the world by population.
According to Manpower, one of the largest personnel firms worldwide, job prospects in the UK finance sector “look strong heading into 2014 with a Net Employment Outlook of +10%”.
Basel III has transformed liquidity risk management departments into glorified regulatory functions, according to a new report by analyst firm Celent. As if this good news was not enough to be getting on with, the research house also inevitably concludes that banks will have to change their risk data, models, appetite, organisational and analytics frameworks too.
The data management aspects of compliance can run into tens of thousands of man-hours per institution, each year. Firms have to adapt and find new techniques to manage this increasing burden.
Wrapping up all of the reference data a large global bank needs and making sure it is standardised, automated and ready for the regulator is a big task. Japanese bank Mizuho International has just installed an EDM service from vendor Golden Source, which it says will help to support trading and satisfy the regulator.
Surveys suggest that U.S. and U.K. consumers don’t know much about NFC and don’t care.
The retailer-led mobile payment consortium Merchant Customer Exchange (MCX) today announced ExxonMobil has joined its ranks, along with Rite Aid Corp., supermarket chain Giant Eagle and the convenience store chain Kum & Go.
Last week was a busy one for the payday loan industry. On Tuesday, New York’s Department of Financial Services (DFS) sent subpoenas to 16 online “lead generation” firms suspected of deceptive or misleading marketing of illegal, online payday loans in New York. On Wednesday, two new reports were released examining small-dollar lending.
Year-over-year retail sales have been brisk between Thanksgiving and Cyber Monday in the U.S. and Canada, according to payment processors First Data Corp. and Moneris Solutions Corp.
The Federal Reserve has issued guidance on managing outsourcing risk to assist financial institutions with understanding and managing the risks associated with outsourcing bank activity to a service provider.
Smaller regional banks may want a single-dealer FX platform; unfortunately, they’re not cheap, so UK technology company Caplin Systems is targeting regional banks that want a single-dealer FX platform without building it themselves.
Financial crime specialist Fiserv has just launched its Financial Crime Risk Management platform, which aims to help financial institutions to ward off financial crime and slash their risk.
The Banking Industry Architecture Network has gained its first member in the Middle East with the addition of Commercial Bank of Qatar to its roster.
US data management company McObject has appointed Ian Hillier-Brook as its representative in the UK and Europe.
JP Morgan Chase & Co. has notified 465,000 holders of prepaid cards issued by the bank that some of their personal data may have been exposed to hackers after its systems were breached last summer.
Mobile POS provider PayAnywhere has struck a deal to enable its merchant clients to accept payments via PayPal’s payment card.
Chinese officials today have banned financial institutions in the country from using Bitcoin as currency, asserting that bitcoins are merely virtual goods that have no status as legal tender.
Nearly 90 percent of consumers likely will purchase at least one gift card from a Website or mobile app this season, according to a study of consumer shopping trends conducted by InComm, a prepaid product and transaction services provider.
Global gift card provider Stored Value Solutions (SVS) is strengthening its position in China with the launch of a new data center in Shanghai.
Visa prepaid gift cards and Discover multimerchant gift cards will be available in more ATMs in the Southwest this holiday through a reseller agreement between Better ATM Services and Express Teller Services announced yesterday.
Sapient Global Markets has launched a close of business reporting service that it says will help capital and commodity markets trading firms to meet regulation at lower cost.
Former SunGard chief executive Cris Conde writes about the importance of training in firms’ governance, risk management and compliance strategies and why they should treat it as an investment.
A new role for CIOs in the banking sector was highlighted at the recent Gartner Symposium: to maintain their future relevance and position, they need to be seen as consultants in the technology space, not just providers.
BBVA Asset Management has chosen an enterprise data management platform from Markit, which will act as hub for its securities, portfolio, fund, issuer and position data in several countries, including Spain and Mexico.
Tech City is the name given to the hub of high growth technology companies in East London and is lauded as the engine room of British innovation. In November 2010, Prime minister David Cameron launched his Tech City Initiative, saying “We’ve also asked some of the world’s biggest businesses and banks to help provide the […]
BNY Mellon has added a link to Bloomberg to its AccessEdge investment management service, which the bank says will help clients to better manage their collateral.
If ever there was a prize for solving a first world problem, creating the ability to buy a coffee for a friend or acquaintance by sending a tweet would be Nobel- worthy. But if the goal is to keep Starbucks in the conversation around the office (and sell more coffee), this should work.
Consumer expectations of mobile banking and prepaid are escalating rapidly, and the industry needs to respond aggressively, and think differently. As consumers demand more from their financial services providers, putting the mobile channel first in your strategy is key.
Blackhawk Network has acquired Germany-based gift card distribution network Retailo AG, a deal which adds more than 40,000 new locations to Blackhawk’s total EMEA retail distribution network.
Starting May 1, 2014, prepaid cards will be subject to new regulations in Canada, including a ban on expiration dates and account maintenance fees during the first year a card is in use, among other measures.
Though the common perception is that prepaid debit cards are designed for, and popular with, low-income consumers, demand for the product spans the income spectrum, according to a report by Aite Group LLC.
Consumers who purchased gift cards from Gyft.com on Thanksgiving and Black Friday received a discount on future purchases if they paid with Bitcoin. Gyft Inc., a San Francisco-based mobile gift card company, last week announced that 4 percent of purchases made with Bitcoin would be converted to Gyft Points that customers could use toward gift […]
Digital security firm Oberthur Technologies has partnered with mobile services specialists mBank in a project aimed at bringing “branchless” banking services to people in emerging markets.
NCR is “fundamentally and permanently changing” financial services its financial services business with a £1.6 billion acquisition of Digital Insight, a Californian on-line and mobile banking solutions provider. It has also bought UK-based fraud prevention company Alaric.
An IT problem that left customers of RBS and its Natwest and Ulster Bank subsidiaries unable to use their accounts yesterday evening was described as “unacceptable” by a bank spokeswoman. For three hours – on what was expected to by the largest online shopping day of the year, dubbed “Cyber Monday” – the banks’ customers […]
Shoppers and retailers continued to blur the line between Thanksgiving Day and Black Friday as consumer traffic on the holiday grew 27 percent, to nearly 45 million shoppers from 35 million a year ago, according to a National Retail Federation survey.
Visa’s entry into the digital wallet space is now live in a quartet of European countries.
PayPal has made it easier for consumers with network branded prepaid gift cards to redeem them while shopping online.
