Citi has launched Futures trading functionality on Citi Velocity, the trading platform which provides clients with access to Citi’s research and liquidity across FX, Rates and Credit. Launched in January 2012, Velocity 2.0 is continuously upgraded to include new features and asset classes. It provides clients with an integrated trading suite enabling fastest possible execution […]
Irish bank Permanent TSB has chosen a regulatory reporting platform from Wolters Kluwer as part of its measures to cope with Basel III. Belgian bank Banca Monte Paschi Belgio, the Belgian branch of Italy’s Banca Monte dei Paschi di Siena, has also chosen the same OneSumX regulatory reporting solution.
Treasury and capital markets software specialist Calypso Technology has developed “an industrialised blueprint for reducing complexity and cost in banks”. The Calypso Bank-in-a-Box was developed in collaboration with a group of global banks to consolidate and document their processes and systems in the face of market and regulatory changes.
Deutsche Bank plans to open three innovation labs as part of its €1 billion investment in digital initiatives over the next five years. The bank has partnered with different technology partners for each of the Deutsche Bank Labs and will be working Microsoft in Berlin, HCL in London and IBM in Silicon Valley.
Patricia Hines has joined Celent’s banking practice as a senior analyst focused on global transaction services and wholesale banking with a particular emphasis on treasury and cash management, corporate banking delivery channels, and trade and supply chain finance, along with commercial and small business lending.
Hines has led senior product management, marketing, and technology positions at FleetBoston Financial, Wells Fargo, Citibank, MuleSoft, OpenText GXS, and S1 Corporation (now ACI Worldwide). She was also research director in wholesale banking at CEB TowerGroup, where she conducted primary research focused on industry trends, strategic business drivers, and technology solutions in commercial lending and small business services.
Samsung Pay will roll out in September, a bit later than its originally planned summer 2015 launch. But when the m-payments service goes live in the U.S. and Korea, it will include a consumer rewards program.
Cybercriminals are using a new form of malware to steal shoppers’ personal financial data, according to an FBI alert issued to retailers last week.
Home Depot has filed a motion to dismiss a class action lawsuit stemming from a data breach last September.
Despite industry fervor behind mobile payments, 47 percent of U.K. consumers don’t want to use their phone to make payments, with 81 percent citing security concerns, according to a recent survey.
Nearly half of smartphone users do not want to use their device to make contactless payments, mostly over fears about security, according to a survey.
Fintech funding is booming globally and within the overall sector, mobile fintech is getting the most money.
Innovation continues to be a hot commodity in payments, and five U.S. startups have been chosen to participate in Commerce.Innovated., an accelerator program to help companies focused on commerce grow their businesses.
On the heels of Facebook’s app-based money transfer service expanding to New York City and adding functions, money management provider Virtual Piggy Inc. has unveiled a P2P transfer service of its own.
Australian grocery store chain Woolworths is canceling more than AUD1.3 million (US$1 million) worth of gift cards after it mistakenly emailed nearly 8,000 redeemable card codes to more than 1,000 consumers, according to reports.
Financial information company Markit has agreed to acquire Information Mosaic, a software provider for corporate actions and post trade securities processing. Information Mosaic’s enterprise software will allow Markit to extend its corporate actions service to support the full corporate actions trade lifecycle and enhance Markit’s asset servicing solutions. Michele Trogni, managing director, cohead of Solutions […]
If Apple Pay provided the first example of a mobile wallet with the right ingredients to finally ignite user (and partner) interest, Google Inc.’s Android Pay platform is poised to accelerate m-payments scale.
New York State’s Department of Labor has published draft regulations for businesses that pay workers with debit cards, including a prohibition on employers profiting from card programs or passing along associated costs to their employees.
Facebook Messenger’s money transfer service has arrived in the New York City market decked out with a few added features.
Equens has announced the first go-live of its new white-label PSP proposition for banks, acquirers and payment service providers (PSPs), which creates a one-stop-shop model for banks, acquirers and PSPs both for offline and online retail payments across Europe.
The London Stock Exchange has acquired quality assurance specialist Exactpro Systems, taking 100% ownership of the company.
Swift is extending its Know Your Customer compliance service into the securities area, making it available to fund distributors and custodians.
Cybercriminals accessed the personal information of about 100,000 U.S. taxpayers in an attack on the IRS’s systems, the agency confirmed this week.
Gift card providers should expect stronger sales as the weather gets warmer and summer celebrations get into full swing, according to the latest research from the Retail Gift Card Association (RGCA).
The U.K.’s share of electronic payments transaction volume surpassed cash for the first time last year, according to the London-based Payments Council, which tracks payments data for Britain.
The CFPB’s final rule for prepaid financial products will come in January 2016, according to the agency’s latest rulemaking timetable.
Strong signs suggest Google Inc. this week will announce Android Pay, its new mobile payments API for developers, likely revitalizing prospects for Google Wallet, and kicking off a summer of fresh m-payments competition, putting the heat on Apple Pay and other emerging approaches.
Issued by the European Banking Association (EBA), the report cites several possible use cases in which cryptotechnology can help banks reduce costs, improve product offerings and speed new product development.
The CFPB this month updated its Company Portal Manual, which explains in detail the process when consumer complaints are submitted to the bureau as well as the procedures companies must follow if they wish to respond to a complaint.
A settlement between MasterCard and Target stemming from the retail giant’s 2013 data breach has been scrapped after failing to earn approval by enough MasterCard-issuing banks.
CashStar Inc., a provider of digital gifting technology and Paybefore Award winner, has appointed Martin Hood as vice president of channel partnerships.
Three new members have been elected to CO-OP Financial Services’ board of directors: Wayne Grosse, Joan Opp and Kent Oram.
Financial services firms should get a grip on their risk management and make more use of the data available to them as part of a two-way process in gaining user trust and building new revenue streams.
Limonetik, a Paris-based global digital payments provider, has expanded internationally with a new subsidiary in the U.K., Limonetik UK Ltd. The company also has appointed Clive Williams managing director and Masha Cilliers principal consultant.
PSCU, a credit union service organization, has added two members to its board of directors.
Payments processor The Members Group (TMG), a credit union service organization, has announced a new vice president, as well as the promotions of two employees.
The race to accelerate payments heated up this week with the introduction of MasterCard Send, a new platform enabling the rapid transfer of funds by businesses, merchants, governments, nonprofits and card issuers to consumers via debit network rails.
With enviable annual growth rates across Europe—27 percent from 2010-2017—providers tapping new market opportunities, and digital and physical channels converging, prepaid is destined to become everyday money, according to Jason Field, head of prepaid product management, Europe, MasterCard.
Apple may have a hard time exporting its Apple Pay business model to Europe, where interchange revenue is much lower than in the U.S.—and about to get lower.
Customers of India’s Axis Bank are now able to send money to each other through Facebook, messaging apps Twitter and WhatsApp, email and phone contact lists using Ping Pay, a multi-social media app developed by Fastacash, a Singapore-based social payments vendor.
Banking technology vendor Misys has launched an Islamic banking platform called Misys FusionBanking Essence Islamic, as part of a plan to capitalise on the 17% annual growth in Islamic banking worldwide.
