23 November 2014

Latest News

Mobile & online

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

13 November 2014  |  7142 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.

Risk & regulation

Ulster Bank fined EUR3.5 million over IT meltdown

12 November 2014  |  2456 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.

Wholesale banking

BNP Paribas: The five ways Bitcoin can shake up the financial services world

12 November 2014  |  19890 views  |  2

Bitcoin could become a market-leading technology that will change the way financial systems are engineered says BNP Paribas, in an analysis of the potential disruptive impact of the crypto-currency on banking and asset servicing.

Payments

Sainsbury's bids to kill the checkout queue with mobile shopping app

12 November 2014  |  5890 views  |  1

UK supermarket Sainsbury's is piloting an app designed to cut the duration of a weekly shop by guiding users around stores and letting them pay through their handsets.

Risk & regulation

Markit, Genpact sign 600 firms for KYC portal: appoint CEO

11 November 2014  |  4440 views  |  0

Markit and Genpact say that they have signed over 600 buy side firms and corporations for their KYC data sharing portal and named former Goldman Sachs man John May as chief executive of the utility.

Retail banking

TransferWise sniffs $1 billion valuation as Sequoia Capital plots $50m investment

11 November 2014  |  4280 views  |  0

Peer-to-peer currency startup TransferWise is in advanced discussion to raise $50 million from Sequoia Capital in a deal that would value the London-based company at close to $1 billion.

Retail banking

Capita wins Co-operative Bank mortgage contract

11 November 2014  |  2395 views  |  0

Capita has emerged as the preferred bidder for a 10-year, £325 million contract to run the mortgage book of the UK's Co-operative Bank.

Mobile & online

BNZ opens online community

11 November 2014  |  2849 views  |  0

Bank of New Zealand has launched an online banking community site, where customers can share financial management tips and provide input to BNZ product development.

Retail banking

Dutch entrepreneur injects bitcoin wallet under his skin

11 November 2014  |  10652 views  |  5

A dutch crypto-currency fanatic has implanted two NFC tags under the skin in his hands to store his digital cash.

Transaction banking

Deutsche Bank hires JP Rangaswami as chief data officer

10 November 2014  |  3738 views  |  0

Deutsche Bank has appointed JP Rangaswami as its first chief data officer, recruiting the former Dresdner Kleinwort Wasserstein CIO from Salesforce, where he has been 'chief scientist' since 2010.

Mobile & online

NCR to offer bitcoin payments via iPOD POS; activates cash function at video ATM

10 November 2014  |  7272 views  |  2

NCR is to bring bitcoin payments to the high street by integrating support for the crypto-currency via its Silver iPOD point-of-sale device for small business owners.

Wholesale banking

Digital agenda driving IT hiring spree at City investment banks

10 November 2014  |  11582 views  |  1

London's investment banks have gone on an IT hiring spree as the industry accelerates its investment in digital technologies and acts to replace staff lured away by the promises of riches from fintech startups, according to fresh data from recruitment outfit Astbury Marsden.

Cards

Home Depot hackers also seized 53 million email addresses

07 November 2014  |  6302 views  |  0

A third-party backdoor and a Windows vulnerability helped the Home Depot hackers plunder 56 million card transaction at the point-of-sale and escape with an additional 53 million email addresses, the US home improvement chain has revealed.

Wholesale banking

Alternative finance sector set for explosive growth

07 November 2014  |  6875 views  |  0

UK innovation agency Nesta says that £1.74 billion will have been raised through alternative finance intermediaries – including crowdfunding, peer-to-peer lending and invoice trading – by the end of 2014, as small businesses and consumers increasingly look beyond the traditional banking sector for loans and capital raising needs.

Security

Banks accused of failing to report true scale of cybercrime

07 November 2014  |  25286 views  |  4

Treasury Committee chairman Andrew Tyrie is to question banks over allegations that they may be under-reporting instances of bank fraud because they don't want to frighten people.

Retail banking

NAB consolidates customer data on new CRM system

06 November 2014  |  3070 views  |  0

National Australia Bank has passed an important milestone in its tech transformation agenda with the roll out of a new customer relationship management system for its 4500 business bankers.

Retail banking

ANZ appoints Citi exec Collary as CIO

06 November 2014  |  3383 views  |  0

ANZ has ended its seven-month search for a new chief information officer to replace former incumbent Ann Weatherston with the appointment of Citibank executive Scott Collary as CIO.

Wholesale banking

Nasdaq wins SIP mandate

06 November 2014  |  3293 views  |  0

Nasdaq OMX has retained the right to continue running the Securities Information Processor (SIP), a critical piece of US securities trading infrastructure.

Retail banking

Competition watchdog to investigate UK current account and SME banking market

06 November 2014  |  10029 views  |  3

The UK's Competition and Markets Authority is to launch a full-scale investigation into personal current accounts and SME banking, following a three month consultation exercise.

Retail banking

Money20/20: MCX and Softcard set out plans to take on Apple Pay

05 November 2014  |  4787 views  |  0

In the long shadow of Apple Pay, this week two major mobile money ventures, telco-backed Softcard and merchant-run MCX, have been setting out their strategies for wining over customers.

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