10 October 2015

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Banks must embrace fintech companies or risk being left behind as the payments landscape undergoes a radical technological overhaul, according to a new report from BNY Mellon.

Hackers have hit financial news and data outfit Dow Jones and may have stolen payment information of former and current subscribers.

Start ups

CIBC makes digital push

09 October 2015  | 0 comments | 10 tweets | 6 linkedin

Canadian Imperial Bank of Commerce is stepping up its migration to digital services as it seeks to cut $600 million in costs by 2018 and see off a raft of new fintech competitors.

Retail banking

Apple Pay to get caffeine boost from Starbucks

09 October 2015  | 6 comments | 7 tweets | 4 linkedin

Apple Pay will soon be accepted at Starbucks coffee stores, with support from fast food chains KFC and Chilis in the wings.

Mobile & online

Australian PM pushes retail BookBuild app

09 October 2015  | 0 comments | 3 tweets | 1 linkedin

A new mobile app which gives retail investors free access to IPOs and private placements on the Australian Stock Exchange has been launched by local startup OnMarket BookBuilds, under the watchful eye of the country's Prime Minister Malcolm Turnbull, who conducted the first transaction using the system.

Global transaction banking revenues are set to nearly double over the next ten years, reaching $2 trillion by 2024, according to a report by the Boston Consulting Group in conjunction with financial messaging network Swift.

Features and analysis

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Retail banking

P2P platform Landbay joins Council of Mortage Lenders

09 October 2015  | 0 comments | 3 tweets | 1 linkedin

Landbay, a UK-based alternative finance platform for buy-to-let mortgages, has become the first peer-to-peer lender to be invited to join the Council of Mortgage Lenders (CML) as a full member.

Goldman Sachs will not release its third quarter earnings report through Business Wire, instead posting the results on its website and through Twitter, according to Reuters.

Risk & regulation

Clinton plans HFT tax

08 October 2015  | 0 comments | 1 tweets | 1 linkedin

Hillary Clinton has vowed to impose a high-frequency trading tax as part of a Wall Street reform package if she becomes president.

The European Parliament has formally adopted the revised Directive on Payment Services (PSD2), a set of sweeping new rules proposed by the European Commission to boost competition and innovation while improving consumer protections.

Latest company announcements

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