16 January 2018
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Europe begins Open Banking era in subdued style
Cards

Europe begins Open Banking era in subdued style

21 hours ago  | 1 comments | 21 tweets | 29 linkedin

The EU's second Payment Services Directive (PSD2) took effect on Saturday 13 January, bringing with it the start of Open Banking, however the prospect of a sudden revolution is likely to be thwarted by unresolved technical and regulatory issues and a lukewarm reception from consumers.

Having racked up nearly two million users in Austria and the Czech Republic, Erste Group is rolling out its PSD2-ready digital banking platform, George, in Slovakia.

A London court has heard testimony from a fired Barclays FX trader about his use of the bank's FX algorithmic trading system in his bid to win his job back, reports Bloomberg.

The largest commercial bank in Russia, Alfa Bank, is developing a new digital cash service where all transactions will be transmitted and cleared via the blockchain.

Wells Fargo to close 900 branches
Retail banking

Wells Fargo to close 900 branches

12 January 2018  | 1 comments | 14 tweets | 16 linkedin

As it books a $3.25 billion fourth quarter pre-tax charge related to the misselling scandal, Wells Fargo says it plans to make savings by closing around 900 branches by 2020.

KFC introduces Bitcoin Bucket
Retail banking

KFC introduces Bitcoin Bucket

12 January 2018  | 1 comments | 17 tweets | 15 linkedin

The Canadian arm of KFC has launched a 'Bitcoin Bucket', inviting people to trade in their cryptocurrency for a more stable asset - fried chicken.

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FinTech Scotland appoints new CEO
Wholesale banking

FinTech Scotland appoints new CEO

12 January 2018  | 0 comments | 7 tweets | 6 linkedin

The industry body set up to promote the fintech sector in Scotland has named Stephen Ingledew as its first chief executive.

Crypto mining threatened by power capacity concerns
Wholesale banking

Crypto mining threatened by power capacity concerns

12 January 2018  | 0 comments | 17 tweets | 18 linkedin

The craze for cryptocurrency mining is putting increasing strain on electrical grids, raising concerns about capacity around the world and the prospect of a migration of coin mining operators to new jurisdictions.

MoneyGram trials Ripple's XRP digital currency
Retail banking

MoneyGram trials Ripple's XRP digital currency

11 January 2018  | 0 comments | 10 tweets | 12 linkedin

Shares in MoneyGram gained on Thursday on news that the old-school money transfer player has teamed up with Ripple to pilot the blockchain startup's XRP digital currency in its payments flows.

SS&C agrees $5.4bn DST Systems takeover
Wholesale banking

SS&C agrees $5.4bn DST Systems takeover

11 January 2018  | 0 comments | 3 tweets | 1 linkedin

SS&C has agreed a $5.4 billion cash deal to buy DST Systems, giving a major boost to its move into the $25 trillion US retirement market.

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