Sept. 19, 2013 The State Bank of India has selected international payments solutions provider Yalamanchili to provide the processing platform for the bank’s new State Bank Xpress Money Card, which enables cardholders to receive instant money transfers from the United Arab Emirates. The prepaid Visa card is co-branded by the State Bank of India and […]
Sept. 19, 2013 The Bitcoin Foundation is pushing for permission to allow bitcoins as a source of federal political contributions. The trade group this week made its pitch to the U.S. Federal Election Commission in a letter announcing its support for the concept, which the Conservative Action Fund PAC (CAF) proposed earlier this month. The […]
Infosys has launched Finacle 11E, a banking solution it said will help banks to modernise their operations, reduce cost and time to market and minimise risk. The product has a modular structure: banks can choose which parts they need and replace their existing systems one step at a time, depending on how far or fast they want to proceed.
In a time when information is king, the battle for data is not so much where to get it as how to get it and what to do with it. For many generation Y savers and spenders, the vast majority of their transactions are carried out online and their relationships with traditional banks are practically non-existent.
Clear2Pay has launched Business-in-a-Box, based on the company’s existing corporate payments hub (CPH) and open payments framework (OPF). The two products are aligned with the company’s new Virtual Vault Account Solution (Vivas) in a package that can be used to establish a virtual financial institution.
As trade flows shift across regions and economic headwinds blow, the trade finance business is facing challenges. Anne Queree examines how correspondent banking networks are adapting
As the Chinese Government continues its phased internationalisation of the renminbi, financial institutions are evaluating their strategies. Daily News at Sibos asked some Sibos delegates what financial institutions need to do to take full advantage of the opportunities offered by RMB internationalisation.
Sibos delegates have sent a blunt message to the world’s financial regulators that new regulations are neither well planned nor well implemented. Eighty per cent of delegates expressed their negative views regarding regulation in yesterday’s regulation plenary session.
A round-up of shorter news items from Sibos 2013 in Dubai
Visa Europe is to introduce a new services suite called Xelerate Card Services from revenue management and business assurance firm SunTec, which it will use to track a peak volume of 100 million transactions a day. Xelerate is designed to help bill member banks and approved non-members of Visa Europe in 36 countries. Visa Europe […]
Despite making headlines for all the wrong reasons for decades, Afghanistan is now trying to persuade the international banking community that there is a brighter future ahead for the country
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.
As the focus on operational risk increases, Nicholas Pratt discovers that the greatest threats to a bank’s security lie outside of its four walls
Innovation in financial services may not generate products quite so world-changing as the inventions of Edison, but the principle of finding better ways to do something does inform most developments.
The complexity of corporate actions has stymied automation efforts for more than a decade. But there could be light at the end of the tunnel …
Houston-based provider launches bill pay/mobile app combo as ‘ideal hook’ to establish customer relationship that expands to other financial services, including prepaid.
How is the global custody and asset servicing model changing? Will consolidation occur? What do clients want? Daily News at Sibos finds out
Crawling from the wreckage – Daily News at Sibos asks whether the industry will experience another Lehman Brothers-type crisis. Have market participants learned their lesson?
Two years on from the merger of Accuity and Bankers Almanac, the company has combined its counterparty and payment databases into a new tool that allows users to integrate them into their own workflows.
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
Deutsche Bank has signed deals with Dubai Islamic Bank, Abu Dhabi Commercial Bank, Agricultural Bank of China and China Merchant Bank to use its products and services in Europe, the Middle East and Asia.
With implementation of Europe’s Target2-Securities beginning in 2015, financial institutions are still defining their strategies and business models. Some questions remain to be answered.
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 partnerships banks are forming with financial technology suppliers today look very different than routine client-vendor relationships of past decades, and one of the most interesting aspects of the trend is how both sides are transforming each other.
Sept. 17, 2013 The prepaid industry has a big opportunity in reaching the financially excluded and underserved across Europe, but it also has a lot of work to do to bridge the consumer education gap, according to new research from MasterCard Worldwide. The payment network today unveiled the “Road to Inclusion,” a report that shows while […]
Visa’s Japanese subsidiary Visa Worldwide (Japan) Co. is joining with mobile telecom provider NTT Docomo Inc. to launch what the companies are calling Japan’s first mobile-based virtual prepaid card for online shopping.
Sept. 17, 2013 Bank of America Merrill Lynch is aiming to improve the speed and efficiency with which banks and corporations can make high-dollar payments to Asia. The company’s new Accelerated Payments to Asia solution uses smart routing technology to mitigate the difficulties typically faced by corporations making U.S. dollar payments to Asia due to […]
Sept. 17, 2013 MasterCard is expanding the reach of its rePower prepaid card reload network to more European nations and adding partners as part of its push to make loading cash onto prepaid cards easier for consumers across Europe, according to Matt Lanford, MasterCard Europe’s head of prepaid. At the 2013 MasterCard Europe Prepaid Conference […]
Vantiv Inc., a Cincinnati-based payment processor, announced that Chief Financial Officer Mark Heimbouch received the Cincinnati Business Couriers’ 2013 CFO of the Year recognition in the public company category.
Think Finance, a Fort Worth, Texas-based developer of financial products for underbanked consumers, has named Craig A. Nies chief analytics officer.
SecureBuy, a Ridgeland, Miss.-based provider of fraud technology and commerce solutions and wholly owned subsidiary of SignatureLink Inc., announced that Christine Lee has joined its board of advisors.
Payza, an online payment platform, has promoted Ali Nizameddine to executive vice president.
Banking software vendor Misys has launched a modular back office service that it says will centralise and consolidate all processing across asset classes, trading systems and branches globally.
Monitise plc has appointed Peter Ayliffe non-executive chairman.
Mercury Payment Systems, a Durango, Colo.-based payment processor, recently was recognized at the Retail Solutions Provider Association’s RetailNOW 2013 convention and expo with the RSPA 2013 Gold Medallion Award for vendor excellence and Best Electronic Payments/Financing Processor, while founders Jeff and Marc Katz were inducted into the RSPA Hall of Fame.
