28 November 2014

Latest News

Payments

US banks pay high price for cosying up to Apple

05 November 2014  |  9683 views  |  8

US banks are paying a high price for the privilege of placing their cards on Apple Pay, with the tech giant demanding not just cash but also detailed reports and analytics on card usage data, according to a leaked draft of the 19-page commercial agreement with issuers.

Retail banking

Citi outlines plans to shrink the bank branch

05 November 2014  |  3171 views  |  0

Hot on the heels of the opening of a massive 6400 square foot flagship outlet in San Francisco, Citi has drawn up plans to pilot a more modest 'compact' branch decked out with a hi-tech finish and staffed by just four employees.

Mobile & online

Nationwide joins the wearable finance movement

05 November 2014  |  9524 views  |  0

Google smartwatch users can now use the timepiece to check their account balances with Nationwide Building Society.

Retail banking

ANZ re-equips for a mobile future

05 November 2014  |  4693 views  |  0

ANZ is to introduce a 'Tap and PIN' facility for cardless ATM transactions, a new mobile point-of-sale system for small traders and an NFC-based mobile wallet in 2015.

Payments

Money20/20: BankMobile asks millennials to help build a bank for young people

04 November 2014  |  9365 views  |  1

BankMobile, the latest US digital-only bank hoping to win over the millennial crowd, is preparing to launch in beta with 5000 customers by the end of the year.

Retail banking

Visa and MasterCard bow to Canadian pressure for lower interchange fees

04 November 2014  |  6180 views  |  1

Visa and MasterCard have finally caved in to pressure from Canadian competition authorities and agreed to set a 1.5% ceiling on interchange rates in the country for the next five years.

Wholesale banking

Barclays invites pitches for fintech accelerator programme

04 November 2014  |  4219 views  |  0

Barclays and Techstars have opened the application process for the second cohort of their fintech accelerator programme, which will give a further ten businesses the chance to shape the future of financial services.

Wholesale banking

UK government launches 'Call for Information' on virtual currencies

04 November 2014  |  4990 views  |  1

The UK government has launched a 'Call for Information' on the benefits and risks of digital currencies, as part of moves to support the growth of Britain’s booming fintech scene.

Mobile & online

Money20/20: Visa and Citi promise to open up to developers

04 November 2014  |  9313 views  |  0

Two of the world's biggest financial services firms, Visa and Citi, have promised to ditch their insular approach and open up their platforms to partners.

Wholesale banking

FIS and Credit Agricole launch post-trade utility

04 November 2014  |  4528 views  |  0

FIS has paired with Crédit Agricole Corporate & Investment Bank to launch a post-trade utility for the derivatives market.

Security

Canadian banks to test heartbeat bracelet for contactless payments

03 November 2014  |  6378 views  |  0

Heartbeat authentication startup Bionym is to conduct a multi-bank trial of its wearable Nymi Band for contactless card transactions at the point-of-sale in Canada.

Retail banking

Barclays and CommBank explore open source collaboration pact

03 November 2014  |  6216 views  |  1

Barclays Bank is to work with Commonwealth Bank of Australia on the development of open source tools for analysing large data sets in an effort to break free from the tyranny of vendor licensing fees.

Retail banking

Visa to recruit 1000 technologists for new Bangalore development centre

03 November 2014  |  3764 views  |  0

Visa is to open a new technology centre in Bangalore, India, next year with the aim of recruiting 1000 staff to work on APIs and software development kits by 2017.

Retail banking

More branches to close as UK banks retreat from the high street

03 November 2014  |  7406 views  |  1

The decimation of the UK's branch banking network continues apace as Royal Bank of Scotland earmarks a further 154 branches for closure this year.

Risk & regulation

Lawsky seeks to ease startup concerns with 'transitional' BitLicenses

03 November 2014  |  4721 views  |  0

New York State’s Superintendent of Financial Services Benjamin Lawsky has revealed plans to introduce a less onerous "transitional" BitLicense for cryptocurrency startups.

Retail banking

Mobiles, cryptocurrency and private sector to boost financial inclusion - Gates Foundation

03 November 2014  |  9958 views  |  0

Mobile phones and the underlying technology behind crypto-currencies are helping to slash the cost of providing financial services to the poor, making the area an increasingly attractive proposition to the private sector, according to Rodger Voorhies from the Bill & Melinda Gates Foundation.

Security

Costa Rican credit union taps face recognition tech for m-banking authentication

31 October 2014  |  5670 views  |  0

Coopeservidores, one of the largest credit unions in Costa Rica, is adding facial recognition technology from FacePhi Biometrics to its mobile banking app.

Payments

Turkish digital wallet provider introduces Google Glass payments app

31 October 2014  |  5747 views  |  1

Turkey's Bankalararası Kart Merkezi (BKM) has developed a Google Glass app that lets users access their digital wallets and make payments through voice commands and QR codes.

Retail banking

Seedrs buys Junction Investments for US launch

31 October 2014  |  2266 views  |  0

Crowdfunding platform Seedrs has acquired California-based Junction Investments ahead of a US launch. Financial terms of the deal were not disclosed.

Wholesale banking

TIM Group scores £2m strategic debt financing from Barclays

31 October 2014  |  2581 views  |  0

TIM Group, the fintech outfit behind a software platform used by stock brokers to submit trade ideas to clients, has secured £2 million in strategic debt funding from Barclays.

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