23 April 2014

Latest News

Retail banking

Co-op CIO Coleman quits embattled bank

10 April 2014  |  1911 views  |  0

Pete Coleman, chief information officer of the Co-op Bank, has quit his role after just a year in the job at the troubled UK bank.

Wholesale banking

Khosla leads all-star investment in small business finance start-up Fundbox

10 April 2014  |  2884 views  |  0

Fundbox, a San Francisco-based start-up that helps business owners fix their cash flow by transferring the amount of outstanding invoices to their bank accounts, has secured a $17.5 million funding round led by Khosla Ventures and featuring an all-star team of private investors, including former Citigroup chief Vikram Pandit, ex-Reuters head Tom Glocer, ISE chairman David Krell, and Jay Mandelbaum, one-time head of strategy and e-commerce at JPMorgan Chase.

Mobile & online

Innotribe Start-up Challenge semi-finalists to go on display at Finextra Future Money

10 April 2014  |  3437 views  |  1

Fifteen fintech start-ups will pitch their business ideas to an audience of bankers and VCs at the European semi-final of Swift's Innotribe Start-up Challenge, which is taking place at the Finextra Future Money show in Canary Wharf later this month.

Cards

Birdback launches card-linked offers platform

10 April 2014  |  2749 views  |  1

UK start-up Birdback says hundreds of UK retailers can now link discounts, cashback and loyalty programmes directly to customers' payment cards for offline spending on the high street.

Payments

NAB turns its back on Bitcoin; cites reputational risks

10 April 2014  |  3395 views  |  0

National Australia Bank is to close down accounts held by people trading in bitcoin due to the "unacceptable level of risk" posed to its business and reputation.

Payments

Westpac forecasts $3 billion in mobile contactless transactions in 2015

09 April 2014  |  3031 views  |  0

Westpac is forecasting almost $3 billion in contactless transactions will be made via mobile by 2015 as the Australian bank begins the roll-out of a new m-payment service on Samsung's Galaxy S4 and S5 smartphones.

Payments

US Attorney General floats tighter regulations for virtual currencies

09 April 2014  |  2133 views  |  0

The US Attorney General has raised the prospect of applying money-laundering and know-your-customer controls to virtual currency transactions as a means to clamp down on illegal activity.

Transaction banking

Gates to venture back into the land of the dinosaurs at Sibos

09 April 2014  |  3064 views  |  0

Banking co-operative Swift has announced that former Microsoft chairman and CEO Bill Gates will give the closing plenary address at the the annual Swift international banking and operations seminar, Sibos, in Boston.

Mobile & online

StarHub gains window on the future with crowdfunding launch

09 April 2014  |  1734 views  |  0

In a move that banks might want to follow, Singaporean telecoms firm StarHub has launched a new crowdfunding site where entrepreneurs can raise cash from the general public and receive backing for their projects from the telco itself.

Mobile & online

Metro Bank founder to launch digital bank; recruits first direct's Mullen

09 April 2014  |  6293 views  |  8

Metro Bank founder Anthony Thomson has recruited first direct chief Mark Mullen to head a new UK digital bank.

Cards

Mashreq rolls out contactless stickers

08 April 2014  |  2607 views  |  2

United Arab Emirate-based bank Mashreq is offering customers stickers that can be attached to mobile phones and used to make contactless payments.

Payments

MasterCard reports contactless surge; forecasts boom in mobile payments

08 April 2014  |  8055 views  |  7

MasterCard is expecting an uplift in contactless transactions to lead to a revolution in mobile payments, with the card scheme currently running 50 NFC pilots across Europe.

Security

Fewer than 1% of European ATMs upgraded to Windows 7

08 April 2014  |  4217 views  |  3

On the day that Microsoft ends tech support for the Windows XP operating system, research from RBR suggests that hardly any European ATMs have been upgraded to Windows 7.

Mobile & online

Absa launches Payment Pebble mPOS device

08 April 2014  |  2603 views  |  1

South Africa's Absa has launched Payment Pebble, a headphone-jacked mobile point of sale device for small traders, as it refines its operating model to become a fully digital bank.

Retail banking

Researchers hack mPOS devices, play Flappy Bird

07 April 2014  |  9108 views  |  2

Mobile point-of-sale (mPOS) devices can be easily hacked, leaving banks, retailers and customers open to fraud, claims MWR InfoSecurity, which has even managed to play Flappy Bird on one reader.

Payments

ATM glitch gives homeless man $37k

07 April 2014  |  3330 views  |  1

A malfunctioning ATM erroneously spat out $37,000 for a homeless man who was picked up by police before he could make off with his haul.

Payments

Royal Canadian Mint ditches MintChip digital currency project

07 April 2014  |  5747 views  |  2

The Royal Canadian Mint has pulled the plug on its MintChip cloud-based digital currency and is looking to offload the business.

Retail banking

Finnish telco hawks pre-loaded contactless payments stickers

04 April 2014  |  3246 views  |  3

Finnish telco Elisa has teamed up with convenience store chain R-kioski to sell pre-loaded contactless payments stickers.

Payments

As US card fraud rises, firms increase security spending

04 April 2014  |  3374 views  |  1

US credit card fraud increased last year despite efforts by firms to beef up their security, according to an Association for Financial Professionals (AFP) survey.

Payments

Barclays' customers spending £6.6 million per month with contactless

04 April 2014  |  4583 views  |  0

Barclaycard says its customers are now spending £6.6 million per month on their contactless cards, as the firm celebrates the fifth anniversary of the introduction of the technology to the UK.

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