28 November 2014

Latest News

Retail banking

Deutsche Bank partners tech giants on innovation labs - WSJ

17 November 2014  |  7606 views  |  0

Deutsche Bank is working with tech firms IBM, Microsoft and HCL Technologies on plans to open innovation labs around the world, according to the Wall Street Journal.

Virtual currency

Bankinter invests in bitcoin startup; Wedbush pump-primes Buttercoin

17 November 2014  |  2863 views  |  0

The venture capital arm of Spanish bank Bankinter has invested in a bitcoin startup that is developing an application for P2P transfer of fiat money to bitcoin - and vice versa - through consumer bank accounts.

Start ups

Majority of UK consumers ready to try new challenger banks

17 November 2014  |  6682 views  |  0

Four-in-five UK consumers would trust a challenger bank with their money, and over half think that a reliable IT infrastructure would give the newcomers a competitive advantage over more-established rivals, according to research commissioned by Fiserv.

Mobile & online

Lloyds opens digital-only training scheme for new graduates

17 November 2014  |  4279 views  |  0

Lloyds Bank is accepting applications for a new digital banking graduate training scheme, the first off its kind from a UK bank looking to harness the top talent from Britain's universities and shape the future of banking.

Post-trade & ops

Conde takes up chairmanship at Calastone

17 November 2014  |  2259 views  |  0

Funds transaction network Calastone has appointed former SunGard chief Cristóbal Conde as executive chairman.

Risk & regulation

RBS embraces crypto-currencies in hackathon challenge

17 November 2014  |  11400 views  |  3

A team from RBS took top honors at the Deloitte Digital #GoneHacking capital markets hackathon on Friday with a trading platform that utilises the Ripple protocol to handle integration with crypto-currencies.

Retail banking

US banks continue to trim branches

14 November 2014  |  4502 views  |  0

US banks and thrifts trimmed a net of 343 high street locations in the third quarter of 2014, continuing the trend of branch closures.

Mobile & online

Google pulls plug on in-app Wallet payments

14 November 2014  |  6266 views  |  0

Google is pulling out of the in-app purchasing game by retiring its Google Wallet service for digital goods.

Retail banking

Aussie telco Optus launches mobile payments app

14 November 2014  |  4591 views  |  0

In an Australian telco first, Optus is launching a contactless payment app that uses Near Field Communication (NFC) and Visa payWave technology to pay for cash purchases below $100.

Payments

Isis to mint own currency

14 November 2014  |  3164 views  |  0

The Islamic State of Iraq and Levant, commonly known as the militant group Isis or Isil, is shunning the digital and crypto-currency revolution with its own plans to reinstate ancient Islamic gold, silver and copper coins.

Security

Americans trust banks over Apple for mobile wallets

14 November 2014  |  8947 views  |  1

Despite the fanfare that accompanied Apple Pay's launch, less than a third of Americans would consider obtaining a mobile wallet app from the iPhone maker, while more than two thirds would take a bank's offering, according to a survey from Phoenix Marketing International.

Retail banking

Amazon wins right to sell .pay and .buy domains

14 November 2014  |  5816 views  |  0

E-commerce giant Amazon has paid millions of dollars in private auctions for the right to sell domains ending in .pay and .buy.

Payments

New UK payments watchdog proposes tough regime

13 November 2014  |  7102 views  |  6

The UK's new Payment Systems Regulator (PSR) has set out its plans to regulate the £75 trillion industry via a package of measures intended to promote innovation and competition and provide fairer access to payment systems.

Payments

Retailers and banks take data breach fight to Congress

13 November 2014  |  4593 views  |  1

The war of words between retailers and banks over cyber-security failures has moved to the political stage, as lobby groups for both parties petition the political elite on Capitol Hill for legislative action to curb future data breaches.

Retail banking

Vodafone SmartPass arrives in the UK

13 November 2014  |  5552 views  |  3

SmartPass, the mobile contactless payments services developed by Vodafone with Visa has quietly been launched in the UK following several global rollouts.

Retail banking

Square to release chip card reader with $29 price tag

13 November 2014  |  4124 views  |  6

Square has announced plans for a new chip card reader that will retail with a $29 price tag and replace its current free-of-charge mag-strip-only dongle.

Security

MasterCard forecasts death of static passwords with 3DS 2.0

13 November 2014  |  9294 views  |  2

MasterCard says a forthcoming wholesale upgrade of the 3DSecure protocol for authenticating online transactions will pave the way for the introduction of more secure biometric and token-based prompts and the ultimate eradication of static passwords.

Payments

BAI Retail Delivery: Digital banking must go beyond transactional to personalised

13 November 2014  |  4012 views  |  0

There is a widening gap between Americans' digital expectations and what their banks are delivering, but firms that act to shape their use of technology to deliver personalised services could significantly boost their profits, research from Cisco suggests.

Start ups

Travelex plans digital recruitment drive; sets up $25 million seed fund

13 November 2014  |  7258 views  |  0

Foreign exchange provider Travelex has amassed a £25 million digital growth fund to make strategic seed investments and technology acquisitions in the retail and fintech sectors.

Mobile & online

Ulster Bank fined EUR3.5 million over IT meltdown

12 November 2014  |  2569 views  |  1

The Central Bank of Ireland has slapped a EUR3.5 million fine on Ulster Bank over IT governance failures that resulted in approximately 600,000 customers being deprived of banking services during a month-long period in 2012.

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