26 November 2014

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Dutch bank ING is to cut 1700 jobs and spend EUR200 million to simplify and upgrade its IT systems over the next three years.

Swipp, a mobile payments service owned by a consortium of Danish banks, has acquired Paii, a rival outfit formed by a group of telcos.

In its latest foray into the commerce sphere, Twitter is testing a feature that lets users add discounts from advertisers on the social network to their payment cards.

Paylib, a PayPal-style online payment system set up last year by French banks, is extending its reach thanks to the addition of Crédit Agricole as a member and a deal with MasterCard that will let people use the service abroad.

The FIX trading community has agreed a set of best practices for use of the messaging protocol for the exchange of pre-trade information in the bond market, as banks and asset managers work together to overcome a liquidity shortage in fixed income trading.

NAB has decommissioned 37 legacy servers that supported its old credit risk engine, following the successful roll-out of a new analytics layer as part of the Australian bank’s NextGen programme.

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Half of Silicon Valley may be bidding to make it a relic of the past, but the old fashioned leather wallet is getting a new lease of life through a high-tech makeover.

A man spent nearly five hours trapped inside a bank branch yesterday after a technology failure locked the door on him.

The Bank of England has appointed Deloitte to conduct an independent review of the ten-hour breakdown in the operation of the UK's high value payments system, Chaps, last month.

Goldman Sachs has led a $15 million investment round in Kensho, a startup that is seeking to supplant human equity analysts with intelligent big data mining bots.

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