26 November 2015

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The world's banks will be forced to axe up to half of their staff and close 50% of branches over the next ten years if they are to remain relevant in an era of rapid technology change the former chief executive of Barclays Bank has warned.

A former Goldman Sachs staffer has been charged by the Securities and Exchange Commission with making nearly half a million dollars by stealing non-public information from the bank's email system and using it to make illegal trades ahead of client mergers.

The world's banks are to hike their IT and innovation budgets over the coming year to counter the growing threat from large tech companies like Apple and Google, according to a Capgemini survey of clients of core tech vendor Temenos.


Hilton confirms data breach

23 hours ago  | 0 comments | 10 tweets | 15 linkedin

Hilton Hotels has confirmed a malware breach that siphoned customer payment data at the checkout, becoming the latest hotel chain to be hacked in a spate of online assaults hitting the hospitality sector.


Alternative payment methods challenge plastic's supremacy

25 November 2015  | 4 comments | 20 tweets | 22 linkedin

Alternative payment methods such as ewallets are overtaking cards as the most popular way to buy online, according to new research from WorldPay.

Technology vendors supplying services to financial market infrastructures (FMI) should be subject to rigorous cyber-security checks to protect the integrity and stability of the financial system, say global regulators in a new consultative paper.

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In the wake of the Paris attacks, France's finance minister, Michel Sapin, says that European authorities need better access to Swift data in the fight against terrorism.


Isbank to roll out new generation bluetooth cash machines

24 November 2015  | 0 comments | 10 tweets | 18 linkedin

Turkey's Isbank is contemplating replacing its ATM fleet with a new generation of keyless and cardless machines that use QR codes or bluetooth beacons to recognise consumer smartphones and dispense cash.

Post-trade technology company Kynetix is working with a consortium of industry stakeholders to explore the use of distributed ledgers in handling title ownership and transfer in the commodities market.

The world's central banks could be rendered irrelevant by the wide-scale adoption of digital currency schemes, the Bank for International Settlements has warned.

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