BankingTech


Banks: bribe customers to stay put …

Hey! Mr Retail Banker, don’t get too worried about the new UK Account Switching regulation that comes into play in September – just offer your customers some money. About 100 quid should do it.

Activ expands Canadian coverage ahead of “naked access” ban

Market data and technology company Activ Financial has expanded its risk gateway tool to cover all Canadian exchanges, ahead of new rules that will require market participants in Canada to have pre-trade risk controls in place across all asset classes from next month.

Eurex inks deal with Taiwan Futures Exchange

The Taiwan Futures Exchange is to list futures and options on German derivatives exchange Eurex, following an agreement between the two bourses to make it easier for international investors to access each other’s markets round the clock.

Customer complaints – a.k.a. customer feedback

Payment protection insurance has dominated the coverage of complaints against banks for some time now, but many observers think that it is just the beginning of a wave of grievances about to engulf the retail banking industry.

New BAML trading system aims at “disillusioned” investors

Bank of America Merrill Lynch is seeking to attract long-term investors who have become disillusioned with equity markets. Its new trading system, Instinct Natural, is a crossing network that is clearly geared towards customers that want to trade in blocks. But market participants have expressed concerns about its potential to meet the needs of long-term investors.

SEPA …

Cover Story: The SEPA end date is now just a year away. Is everybody ready? Of course not.

Mobile to dominate rise in retail bank IT spending

Further evidence that bank IT spending is growing again comes from industry analysts at Ovum, which is predicting overall growth of 3.4% among retail banks, reaching $118.6 billion in 2013, as they focus on “customer satisfaction and revenue growth”.

Market abuse highlights vulnerable European equity market

The imposition of an £8 million fine against defunct Canadian day trading firm Swift Trade earlier this week illustrates the potential for abusive strategies that distort markets – and the need for a new approach from regulators, according to Matthew Coupe, director of regulation and market structure at NICE Actimize.

Low frequency trading

Hats off to Rising Sum, which has built a platform that identifies investment opportunities “using the acquisition criteria favoured by Berkshire Hathaway, Warren Buffet’s highly successful investment vehicle”.

Exchanges: time for a rebuild?

Technical problems at Nasdaq and BATS have reinforced the impression among many market observers that there may be something seriously wrong with equity market structure. Recent history reads like a catalogue of disaster for many of the world’s most prominent trading venues.

Western Union: Expanding on all fronts

As the global payments markets changes, Western Union has plans to change with it. Massimiliano Alvisini, regional director UK, Ireland & Nordics explains how and why.

Banish Missed Trade Misery …

A study shows that 62% of City traders “admit to missing key investment or sell opportunities because they didn’t keep track of time zone differences”.

Customer relationships in a multichannel world

The public perception of banks has been battered in recent years, but financial institutions have been working hard to repair the damage. A key tool in their strategy has been to improve customer service in a multichannel environment.

Rise of the machines: banks embrace automation despite the cost

Flawed decisions taken by machines are causing financial services firms to lose customers and suffer unexpected costs, according to new report by the Economist Intelligence unit. Yet retail banks are increasingly turning to technology to assess customers.

Social media 2.0 for banks

A new social media tool designed for banks and built by British technology firm Integritie aims to break through the barriers that separate customers from their bank.

Seller beware

Conduct risk, which places emphasis on providers of credit to treat customers fairly, will challenge them to deliver higher standards of customer support across the whole relationship.

Riding the payments roller-coaster

UK banks are still in “a difficult place” as they face economic uncertainty, increased cost and competitive pressures, complex regulations and rapid technological changes – but the changes that are happening in the payments industry offer scope for them to reclaim the initiative and deploy innovative solutions.

Industry “not ready” for OTC derivatives reform

Four out of five financial institutions are not ready for new regulations governing the trading, reporting and clearing of OTC derivatives, according to a new survey by US communications company IPC.

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.

Unlocking the potential of Big Data

At the centre of the national crisis sits a banking industry tarnished in the public’s eyes by poor performance, excessive pay and the ongoing need for state support. Just where does the industry go from here and how does it start to rebuild trust?

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.

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.

Clearstream allies with Belgium’s Belfius

German central securities depository Clearstream has partnered with Belgian bank and insurance firm Belfius, to develop a new collateral service for bilateral trades, focusing on OTC derivatives and aimed at corporates and medium-sized banks.

Nasdaq OMX expands and regroups technology business

Nasdaq OMX is to combine its market technology and corporate solutions businesses, in a move that it says will help the firm provide more transparency to customers and a stronger business proposition.

Headcount cull claims investment bankers

As job cuts continue to bite at some of the world’s largest banks and financial institutions, new figures from Bloomberg Industries reveal the scale of the cull driven by lacklustre macroeconomic performance in Europe, a declining stock market and tightening financial regulation.

Acleda Bank fuels Cambodian expansion with Temenos tools

Cambodia’s Acleda Bank has embarked on a massive programme of expansion in a bid to reach unbanked customers in the country, drawing on core banking technology provided by Swiss banking software company Temenos.

Swift’s Innotribe Challenge 2013 opens for entries

Swift has opened its Innotribe Startup Challenge 2013 for entries. The year-round competition is intended to introduce financial industry decision makers and early-stage investors to the “innovations and emerging companies that are poised to transform the industry”.

International clearers form ‘Liquidity Alliance’

An alliance between central securities depositories in Germany, Spain, Brazil, South Africa and Australia aims to tackle the expected global shortfall in collateral arising from tough new financial regulation.

Trendy techs top CIO priority lists for 2013 says Gartner study

Faced with flatlining IT budgets, global CIOs must better exploit the business potential of technology to achieve results – currently they realise only 43% of that potential says Gartner. Top of the priority list is what the research firm calls ‘digital technologies’. In this it includes mobile, analytics, Big Data, social media networking and cloud, […]

Banks boost ICAP’s Traiana with $36 million investment

Interdealer broker ICAP has raised $36 million through the sale of a 12% stake in its Traiana post-trade processing and risk management business to a consortium of banks – Bank of America Merrill Lynch, Barclays, Citi, Deutsche Bank, JP Morgan, Nomura, and the Royal Bank of Scotland.

The irresistible rise of digital banking

The banking industry, integral to our commercial and personal lives, has always evolved with the times to embrace new challenges and consumer attitudes. Technology plays an obvious and increasingly important role in this evolution.

Social media trading goes live on DCM

Online trading service DCM Capital has released a trading platform with a social media sentiment feed, allowing traders to incorporate information from channels such as twitter and Facebook into their trading decisions.