28 November 2014

Latest News

Retail banking

Route 66: 'The six things fintech investors are looking for'

12 hours ago  |  2152 views  |  0

Investment firm Route 66 Ventures says that fintech entrepreneurs seeking funding for fresh innovations in banking should focus their efforts on the development of crypto-business models, asset management, alternative lending, and bank API, mobile payments and digital channels.

Payments

Black is not the only way to describe Friday says Santander

13 hours ago  |  1695 views  |  0

As an antidote to the shopping frenzy that characterises the day after Thanksgiving in the US, Banco Santander has taken a refreshingly different approach with a campaign that encourages people to avoid the crush at the malls and instead spend more time with family and friends.

Wholesale banking

Johnson flies the flag for London's fintech sector

14 hours ago  |  2694 views  |  0

London has cemented its position as a world leader in financial technology, with companies in the capital attracting more than US$539 million in venture capital investment so far this year – triple the amount raised in 2013 and more than half of all fintech investment across Europe.

Mobile & online

Skrill adds scale in pre-paid with plans to acquire Ukash

27 November 2014  |  4349 views  |  0

Skrill Group is to acquire Ukash, a UK-based electronic money system that allows users to exchange their cash for a secure code to make payments online.

Payments

Man goes on ATM rampage after machine rejects his card

27 November 2014  |  3604 views  |  2

In an uncontrollable fit of ATM rage, a Chinese man took a hammer to nine cash machines in the City of Guangzhou after his bank card was rejected.

Mobile & online

Monitise gets £49.2 million boost from Santander, Telefonica and IBM

27 November 2014  |  8982 views  |  1

Santander, Telefonica and MasterCard are to invest £49.2 million in Monitise, providing a welcome boost to the London-based mobile money outfit after Visa decided to sell off its stake in the company.

Mobile & online

Clinkle entices students with vending machine full of free cash

26 November 2014  |  3141 views  |  0

Much derided mobile payments startup Clinkle has unveiled its customer acquisition strategy: bribing students with $20 bills from a vending machine stuffed with cash.

Retail banking

Discover fires lawsuit alleging anti-competitive practices at Visa

26 November 2014  |  3032 views  |  3

Discover has filed a lawsuit accusing rival card scheme Visa of anti-competitve practices in its debit card business.

Retail banking

Retailers to beam offers to passengers travelling on Norwich buses

26 November 2014  |  3086 views  |  0

UK transport company FirstGroup has deployed bluetooth low energy beacons on buses in Norwich to deliver messages and discounts from local retailers to passenger smartphones as they travel through the city.

Payments

Danish telcos sell m-payments venture to bank-owned rival

26 November 2014  |  5383 views  |  0

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

Cards

Twitter lets users add coupons to cards for in-store redemption

25 November 2014  |  3014 views  |  0

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.

Cards

Crédit Agricole joins French bank-run e-payments service

25 November 2014  |  3927 views  |  1

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.

Retail banking

ING to cut 1700 staff and grow digital investment

25 November 2014  |  4383 views  |  2

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

Wholesale banking

Neptune bids to FIX liquidity shortage in bond trading

25 November 2014  |  3283 views  |  0

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.

Retail banking

NAB decommissions 37 legacy servers as it deploys new credit risk engine

25 November 2014  |  2870 views  |  0

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.

Mobile & online

Startup taps Indiegogo for BLE-enabled wallet

24 November 2014  |  3086 views  |  0

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.

Security

Man spends five hours locked in bank branch

24 November 2014  |  4007 views  |  3

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

Payments

Bank of England appoints Deloitte to probe Chaps breakdown

24 November 2014  |  4361 views  |  0

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.

Trade execution

Goldman takes stake in data analytics platform Kensho

24 November 2014  |  6024 views  |  0

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.

Retail banking

Visa Inc frets over $10 billion price tag on European brand

24 November 2014  |  9052 views  |  0

Visa Inc says that it may have to find $10 billion to fund the acquisition of Visa Europe should European banks exercise their option to sell the business to its US counterpart.

Cards

RBS suffers another IT glitch

21 November 2014  |  7683 views  |  2

The day after it was fined £56 million over an IT meltdown, Royal Bank of Scotland has suffered a minor glitch which has seen some customers unable to use their credit and debit cards.

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