The UK Payments Council has contracted with interbank messaging network Swift to provide a BIC-to-IBAN data platform, enabling the nation's banks to conform to new EU regulations on cross-border payments in the euro zone.
India has set out its plans for a unified electronic payments system and set of APIs designed to wean the country off of cash and onto electronic transactions tapping smartphone and biometric technology.
Barclays is to equip its roving army of Community Bankers with iPads capable of performing all banking operations previously confined to bricks and mortar branches.
Lloyds Bank is to push notifications on cashback offers and rewards to registered customer mobile phones and smartwatches.
A clear majority of banks believe that they will have to overhaul their core infrastructure over the next three to five years if they are to face off the threat from more agile competitors, according to research conducted by Finextra.
A senior researcher at the Federal Reserve Bank of St Louis has floated the idea of a government-backed 'Fedcoin' that uses a bitcoin-style protocol but the US dollar as the monetary object, combining the best of cryptocurrencies and cash.
Total bank IT spending across North America, Europe, and Asia-Pacific will grow to $196.7 billion in 2015, an increase of approximately 4.6% over 2014, according to forecasts by Celent.
Spending on contactless cards more than trebled over the last year to reach a record £2.32 billion in 2014, according to data published by The UK Cards Association.
Swatch is to launch an Internet-enabled smartwatch featuring mobile payment functionality in the next two to three months.
Orange has struck a deal with Ecobank that will enable customers in several African countries to transfer money between accounts with the telco and financial services group through their mobile phones.
© Finextra Research 2015