Analysis


ItzCash to Join Integrated Bill Payment Platform in India

Indian payment solutions provider ItzCash Card Ltd. has received in-principle approval from the Reserve Bank of India (RBI) to participate in the country’s integrated bill payments platform, known as the Bharat Bill Payments System (BBPS).

Why payments can no longer be “an industry”

There are three options of a road ahead for the payments industry players: 1) to carry on as they are and watch their margins erode; 2) to transform into a utility; 3) to have a long hard look at their value chain. If you choose the latter – what do you see, asks Sapient Global Markets’ Leda […]

Blockchain: disrupting traditional architectures

Blockchain is disrupting the financial services (FS) industry. Deloitte recently called it one of the year’s most controversial and debated topics. Yet, despite the hundreds of millions being invested in blockchain technology by companies from all industries across the globe, there is still much confusion around how the technology works and the effects it will […]

Banking Technology and FemTechLeaders launch W.I.T. Award, entries now open!

Woman In Technology (W.I.T) Award recognises an outstanding contribution made by a female to the fintech industry. The W.I.T. Award celebrates the spirit of inclusion, diversity and creativity in the fintech industry Supported by a worldwide network of FemTechLeaders To be presented at the Banking Technology annual awards ceremony and gala dinner on 1 December. […]

All that glitters isn’t just our clothes!

When I first started travelling for my job, it wasn’t too afield. I was working in Australia so it involved trips to New Zealand, Singapore and not much more. However, in only a few years, my travel grew to where it became routine to visit the US, Germany and the UK, but with the aircraft […]

Visa Lawsuit Alleges Walmart Plan to Eliminate Signature Verification

Visa has filed a lawsuit against Walmart in a dispute over customers’ use of signatures or PINs to verify purchases with EMV-equipped debit cards at Walmart. Last month, Walmart sued Visa, claiming the payments network required the retailer to offer EMV debit users the option of signature or PIN verification in violation of the Durbin Amendment.

Big data: bridging consumer experience & increased revenues in financial services

While the benefits of big data are well understood for compliance and fraud prevention, the technology can also deliver very useful insights into customer behaviour. Thanks to big data analytics, retail banks can monitor how customer behaviour evolves and any significant patterns that can inform which products to market and offer. In the UK, Lloyds […]

Senators Want Answers on Prepaid Outages

U.S. Sens. Sherrod Brown (D-Ohio) and Bob Menendez (D-N.J.) are demanding answers from Green Dot, MasterCard and Walmart about a May outage that left Green Dot-issued Walmart MoneyCard customers without access to certain prepaid services. The senators also asked MasterCard to distinguish the circumstances between the Green Dot outage and the one RushCard experienced October 2015 when it switched to MasterCard’s processing platform.

Supreme Court to Hear ATM Fee Case

First filed in 2011 by a consortium of consumers, independent ATM operators and the National ATM Council, the suit alleges that payment networks’ ATM fee policies suppressed competition by barring ATM operators from offering discounts to users who transact via networks other than MasterCard or Visa.

Taking advantage of open source

The technology world is evolving from a cathedral-like structure dominated by major technology vendors such as Oracle, Microsoft and IBM, to a bazaar-like ecosystem where new paradigms, platforms and tools emerge constantly and are adopted quickly. Though it is a cliché to say that the pace of change is accelerating in IT, it is also […]

Interview: Matteo Cassina, Saxo Bank

During the two-day MoneyConf event in Madrid, there was an exclusive Banking Technology interview with Matteo Cassina, member of the global executive committee at Saxo Bank. Deputy editor Antony Peyton spoke to him about his opinions on the show and the industry. In terms of MoneyConf 2016, Cassina says: “I do believe there are a […]

U.K. Votes to Exit EU; Payments Industry Faces Uncertainty

The people have decided and the U.K. is splitting from the European Union, raising serious concerns for the payments industry. Among those concerns is how passporting will work when the U.K. is no longer part of the EU since the majority of European e-money issuers have licenses in the U.K. that they passport elsewhere. Fifty-two percent of voters opted to bow out, or “Brexit,” as it’s commonly called.

Payments Industry Braces for ‘Brexit’ Results

As voters head to polling places today to decide whether the U.K. should split from the European Union, the referendum is top of mind for members of the payments industry around the world. Several issues for the industry would be in flux should the U.K. decide to bow out, or “Brexit,” as it’s commonly called.

Infographics: the evolution of credit

This nifty infographics, courtesy of MBNA, is a whistle-stop tour of credit wonder and woe over the last 4,000 years – from ancient Babylon to modern Britain – and what people had to do to get a little credit.

New breed of execs can bring true digital innovation to banking

Digital technology is increasingly seen as the key to transforming banking into a customer-focused industry befitting the modern age, and a new role of chief digital officer (CDO) has evolved to help implement this change. However, although many banks have used IT to build more customer-friendly interfaces on apps and websites, there is scope to […]

Regtech: from regulatory compliance to competitive advantage

Subas Roy, director in EY’s financial services practice, explains how regtech can help and how to avoid the pitfalls. Most of the business leaders that I interact with these days often use two terms, “digital innovation” and “regulatory compliance”. I wonder if they are intrinsically linked? Indeed, successfully addressing multitude of regulatory risks can be […]

Okla. Delays Hwy Patrol Plan to Use Card Readers; FinCEN May Have other Ideas

Oklahoma Governor Mary Fallin says state law enforcement will delay using devices that read the magnetic stripes on payment cards, following outcries from lawmakers and consumer groups about privacy and legal concerns. But mention of a supplemental proposed rulemaking suggests FinCEN may be looking to revisit card readers at the border.

Class Action Takes Aim at CPI

CPI Card Group has been targeted in a new class action lawsuit over claims the card manufacturing and fulfillment specialist failed to disclose important information to shareholders in the run-up to its IPO last year.

Will AI make active managers prove their worth?

Research released late last year suggested that almost two thirds (62%) of a survey of 90 German institutional investors predict greater usage of artificial intelligence (AI) for short-term decision-making, and 17% for medium-term investment decisions. Universal Investments, the asset manager behind the research, said that “the industry’s future thus certainly appears to be closely linked […]

SCT Inst scheme: instant payments Europe-wide – have your say!

Flexibility and transparency are key to the first pan-European instant payments scheme, states Javier Santamaria, chairman of the European Payments Council (EPC). Currently, instant payments in Europe operate only within the borders of individual countries or among customers of the same payment service providers (PSPs). To move away from this fragmentation, the EPC was invited […]

Top 10 Viewpoints of 2016

From the future of prepaid and which mobile wallets stand to win to regulatory uncertainty and the best route to market in Europe, view our most popular opinion pieces from 2016, so far.

Viewpoint: How Apple Pay Could Impact the Future of Retail

While industry observers think Apple Pay adoption hasn’t yet hit a critical mass, the mass it has hit (with 1 million more users added each week) makes it a substantial alternative to the use of contactless payment cards. But more importantly, it’s what’s still to come from Apple that retailers (and others vying for mobile wallet share) can’t afford to ignore.

Viewpoint: How IoT Connects Financial Services to Everyday Life

Tapping into the IoT trend requires financial services providers to consider the use case for each device and make sure the information and capabilities are relevant. Irrelevant information will at best be ignored and at worst lead consumers to disengage.

Viewpoint: Don’t Fear the Breacher

What it comes down to is that there’s no reason for merchants or financial institutions to live in constant fear of data breaches when there are solutions that will identify and prevent fraud attempts while also protecting the customer experience.

Micro is the biggest thing

Call it “innovation”, “transformation” or just “business”, banks are spending time and money in the pursuit of the gear shift that will protect margins and grow revenue in the digital era. The time for big, bold moves is upon us, yet it appears that the biggest move of all is tiny: the trend towards the […]

N.Y. DOL Revises Payroll Card Proposed Rule; Fee Restrictions Remain

For more than a year, payroll card providers have had to deal with the specter of a final rule on payroll card regulations from the New York Department of Labor. The wait is now over, sort of. Rather than issue a final rule, the N.Y. DOL today issued a second revision to its proposal, but the industry is still concerned about its implications.

House Amendment Could Stymie CFPB Payday Rulemaking

The U.S. House of Representatives Committee on Appropriations recently approved its Fiscal Year 2017 Financial Services and General Government Appropriations Bill, and its passage (30-17) most definitely represents a thorn in the side of the CFPB because it delays the bureau’s regulations for payday loans.

The future of the bank-fintech start-up relationship

As technology continues to proliferate in the world around us, banks are no exception. Digitalisation is revolutionising the way consumers interact with everything – companies such as Amazon, Apple, Airbnb, Netflix and Uber have transformed customer expectations and created a ripple effect across all industries. We cannot ignore the forces at work today. Across demographics, banking […]

The regulatory fintech sandboxes: are they really useful?

This truly has been the time of regulators announcing fintech sandboxes – what better thing to write about on my first fintech column here, than the ways regulators and fintechs can work together! There were three announcements in the past couple of weeks around regulatory sandboxes – the Australian Securities and Investment Commission (ASIC) announced […]

CFPB Spends Big to Reach Consumers Online

The CFPB wants to make more consumers aware of its watchdog mission and is spending big to ensure that: $15.3 million so far in fiscal 2016, making the federal agency among the biggest government advertisers, according to reports and an online database.

N.Y. DOL Payroll Rule Expected this Week

It’s been more than a year since the New York Department of Labor first proposed payroll card regulations, but the agency is expected to follow up with a new payroll card rulemaking in the New York State Register this week. What’s uncertain is whether the regulations will be final or if the state will be following up its controversial proposal with a revised proposed rulemaking for which it will accept additional comments.

Accelerators: bridging the gap in fintech

Since 2015 the fintech market has changed dramatically but even bigger changes are yet to come in 2016 affecting financial services big time, believes Francisco Lorca, MD of a London-based fintech accelerator programme, Startupbootcamp. Tech is coming for banking as more fintech start-ups are springing up. There still huge gap between the collaboration of these two but […]

Say goodbye to traditional customer segmentation

To stay afloat in a sea of consolidation, financial organisations, including community banks and credit unions, must recognise that their customers are individuals with unique needs. Michael Boukadakis, founder and CEO of Enacomm, explains how technology can help achieve this. Algorithms have advanced, and other industries – from retail to transportation – have raised the bar […]

Point of view: how UK banks can deliver better service to customers

The banks know they need to do better for their millions of UK customers, but the pressing question is how? One answer is to form partnerships with some of the fintech companies that are now gathering momentum as powerful players in the market. Can these potential competitors be the banks new best friends? Jurgen Hutter, […]

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