01 October 2014

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The UK's Financial Conduct Authority will explore the introduction of full bank account portability as part of a review into the country's existing current account switching service.

Wells Fargo has established a digital lab to test the use of bleeding edge technologies such as smart wearables and virtual reality headsets in banking.

After closing a $50 million funding round, Reddit could create its own cryptocurrency as a way of handing over shares in the platform to its massive user-base.

Yodlee Interactive is launching a private beta programme that will marry its transactional data with geo-location information in an effort to make app offerings more personalised.

Dwolla has raised $9.7 million in a funding round led by exchange operator CME Group in a move that signals the digital payments startup's intentions to move beyond the retail world.

General Catalyst Partners is to invest $10 million in venture capital for market-changing businesses and applications built on the Stripe Connect platform.

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Bank of America Merrill Lynch is tapping the technology behind its P2P payments service to launch a system that lets companies send money directly to customers' accounts using their mobile number or email address.

Payments

EBay and PayPal to split

23 hours ago  |  0

EBay is to spin off Paypal into a publicly traded company in 2015 and has appointed American Express executive Dan Schulman as president and CEO of the payments business in anticipation of the move.

Non-cash payments volumes are expected to increase by nearly 10% percent to reach 366 billion transactions in 2013, fueled by strong growth in developing markets and mobile payments, according to the 10th annual World Payments Report from Capgemini and Royal Bank of Scotland (RBS).

Security

FS firms gear up for .bank domains

30 September 2014  |  0

Financial services firms will be able to use '.bank' domains from next year after a collection of industry organisations struck a deal with Icann.

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