US consumers reject mobile wallets, survey says
The overwhelming majority of US consumers would not use a mobile wallet, according to a survey carried out by consultancy Consult Hyperion during September.
The overwhelming majority of US consumers would not use a mobile wallet, according to a survey carried out by consultancy Consult Hyperion during September.
There comes a tipping point when market readiness, social behaviour and technology combine to create a sudden, ubiquitous change of behaviour. For mobile payments the tipping point may have arrived – but will there be a dominant solution?
Bitcoin is here to stay and will continue to grow, according to experts speaking on separate panels at Money2020 in Las Vegas.
Basic security mechanisms in payment and banking systems are poorly applied and are out-gunned by the resources available to cybercriminals, a session at the Money2020 event in Las Vegas was told.
Visa Europe’s decision to place its internal and external communications networks into the hands of BT will help the firm to realise economies of scale and offer a more efficient service to customers, according to Chris Pickles, Head of industry initiatives at BT.
Front and centre of the agenda that Swift set out at the beginning of this week’s Sibos is the concept of collaboration and cooperation – a perennial theme for Swift, but Leibbrandt told Daily News at Sibos there is a change in the air.
New technologies are transforming the consumer experience in retailing and in banking. For banks to remain relevant, they need to work with innovators, writes Paul Skeldon
Barclays is making a determined effort to capitalise on the two-year lead it has built up with its Pingit mobile payments application with two new applications intended to allow retailers to integrate mobile payments into their services.
Standard Chartered has launched a mobile wallet service targeted at corporate clients in Kenya. The service has been developed in partnership with Safaricom, which operates the mobile money transfer service M-Pesa. The bank hopes the deal will herald the start of a major drive to open up financial inclusion in emerging markets.
The UK’s second largest building society is being moved to a modern delivery platform managed by HP, with the establishment of a Shared Services Alliance with HP Enterprise Services UK to offer the platform to a wider range of UK financial services institutions.
Cover story: It’s not just the criminals who are trying to get into your systems – banks need to look at the bigger picture to create an effective cyber defence Also in this issue: Where worlds collide: In Turkey’s dynamic financial services markets minarets mix with mobile masts and ATMs with ancient monuments . Swift […]
The challenging ongoing economic climate and the resulting shrinking markets have created an environment of greatly increased competition. In order to deal with the pressures of recession, retail banks are increasingly being forced into a strategic transformation of business structure, culture and practice. How they interact with customers is a prime focus during these transformations, writes Mike Davies, Regional Vice President Sales EMEA North at GMC Software Technology.
The payment industry has never seen so much change or opportunity. It continues to be reshaped by shifts in the economic landscape, new technologies and customer needs and this is set to continue.
Payments made via mobile devices are fast becoming de rigueur as tablet sales are expected to overtake personal computers by 2017. Shane Fitzpatrick addresses five common myths about m-commerce and how to capture online revenues. Smartphones are already more popular globally than desktop PCs and of the 1.875 billion phones to be sold in 2013, […]
Most debates about High Performance Computing in financial services quickly turn into conversations about high frequency trading, but there are many more reasons for getting the best of out of systems. Electronics and computer technology have always been pushing the boundaries of smaller, faster, cheaper (or at least, ‘more affordable’) and financial services firms have always been quick to take advantage of the latest advances.
A new trading app has been launched by Interactive Data subsidiary eSignal, which promises to help traders use the iPad to obtain information and market data on the move. A subsidiary of Interactive Data, eSignal is based in California. The firm’s technology is targeted at making it easier for traders to get access to real-time […]
As the high-frequency trading arms race continues, some firms are exploring the idea of using lighter-than-air balloons as a faster way of transmitting data.
Canada is seeing a fresh push to promote near field communication (NFC) services after Canadian cooperative financial group Desjardin signed a deal with mobile money solutions provider Monitise and a joint venture with the nation’s three largest mobile operators.
Orange and oil and gas group Total have forged a partnership in Africa and the Middle East, providing access to Orange Money services at all Total service stations in the regions, spanning a total of 13 countries to date.
Predicting the future is never easy, but trying to anticipate likely developments in a particular area is essential in order to take timely action. With that caveat, Stephen Lindsay, head of standards at SWIFT, sets a boundary on a discussion on the Future of Standards: “What we are trying to do is extrapolate a little bit from where we are now to where we might be in a few years’ time,” he says.
Cover story: high frequency trading isn’t the only reason to deploy faster technology … Also in this issue: A road to nowhere? The UK’s plans to improve competition in retail banking are not without critics. The lure of the East: opportunities and challenges in the Middle East markets A watching brief: regulators are beefing up their […]
UniCredit and IBM are to form a joint venture company that will offer IT infrastructure services to other financial institutions as part of a “multi-billion dollar”, 10-year agreement.
The financial services sector’s growing interdependence between internet-accessible clearing and transaction processing infrastructure means that a successful DDoS attack can have far reaching consequences, such as customer dissatisfaction and loss of trust, brand damage, increased operating costs and lost revenue to name just a few.
For the first three months of 2012, Misys was the subject of a protracted bidding war. Misys is clearly not the company it was a year ago:the firm has endured some painful change, but it has at least been quick. It has also produced what promise to be tangible benefits for users …
The impact of the internet on the banking industry may yet turn out to be far more important than the financial crisis and the subsequent regulatory overhaul. Viewing statements on-line and making payments electronically is just the very beginning of the revolution.
ISO 20022 has been hailed as the lingua franca in payments and securities for some years now. It offers great potential for re-engineering the payments industry, and for process improvement, but for a standard that promises so much it is still relatively unknown.
Speakers at the Digital Services Conference hosted by Informa in London on Tuesday expressed frustration at the lack of progress made by mobile wallets in the UK and called for more innovative solutions to bypass the impasse.
Brokers will need to spend more on risk management over the remainder of 2013 if they are to survive incoming financial regulation and new technologies will be required to make that possible, according to new research by Tabb Group.
Innotribe, the Swift-backed initiative to enable collaborative innovation in financial services, has announced the names of the five contenders from the US leg of its annual Startup Challenge to compete at Sibos 2013 in Dubai in September.
Much has been said about the ‘bank 3.0’ landscape. We all now know that the Generation Y consumer, or the ‘digital native’ customer, demands a new type of banking. From online, anytime banking, to mobile payments, the face of banking is changing accordingly
Cover story: the securities markets are changing rapidly, and none more so than fixed income. Also in this issue: Interview: Thomas Zeeb, chief executive of Six Securities Services, on the opportunities presented by Europe’s changing post-trade infrastructure Interview: Ruth Wandhöfer, global head, regulatory & market strategy at Citi Transaction Services, on the challenges still facing […]
While the value of data has become increasingly clear to businesses in the wake of the financial crisis and subsequent regulatory and compliance initiatives across Europe, they are not yet reflecting data as a valued asset on their balance sheets.
GFT Technologies has taken an 80% stake in Italian IT consultancy Sempla for an undisclosed cash sum. It has the option to acquire the remainder of the company after five years.
The post-trade infrastructures behind the world’s securities markets face as much, if not more, regulatory driven change as the trading firms in the face of legislation such as the European Union’s European Market Infrastructure Regulation. While some of the effects will be negative, the regulators are showing a constructive approach and recognising that the infrastructure providers came out of the crisis well, says Thomas Zeeb, chief executive of Six Securities Services.
The extent to which a targeted series of acquisitions over the past few years have moved Temenos from being simply a core banking system vendor to a fully-fledged financial technology specialist became clear at its recent annual user event, this year held in Abu Dhabi.
Innovation in financial services is currently at a seven-year low, reflecting a period of cost-cutting and scaling back in the face of new financial regulation – but innovative new technologies such as mobile may provide a solution, according to law firm RPC.
Trading and risk technology specialist Cinnober is investing in a financial IT cluster in northern Sweden, centred on the university town of Umeå and initiating a a one-year trainee programme stating in the autumn.
Banks need to cross a psychological barrier and embrace the concept of outsourcing their payments operations if they are to compete on product innovation and customer service rather than simply on cost.
The idea of sending money via email is not entirely new. This month, however, a new financial player entered this arena: Google announced that it will integrate Google Wallet into Gmail.
Millennium Information Technologies, the IT subsidiary of the London Stock Exchange has appointed John Mackay “Mack” Gill, as its new chief executive office, taking over from company founder Tony Weeresinghe, who will become non-executive chairman with a global business development role.