Innovation

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/Innovation

SunGard runs global corporate hackathon

Fintech powerhouse SunGard is sharing the results of a two-day corporate hackathon which saw 103 teams in 17 cities around the world compete to develop innovative new financial service apps.

/Innovation

Coinbase scores $25 million funding round as VCs pile into bitcoin

Bitcoin wallet outfit Coinbase has raised $25 million in a funding round led by Andreessen Horowitz, with participation from existing investors Union Square Ventures and Ribbit Capital.

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CommBank and Westpac to put Australia at forefront of Mobile NFC wave

Commonwealth Bank of Australia has released a mobile NFC-based payments application for Samsung handsets, just ahead of rival bank Westpac, which has abandoned plans for sticker-based payments in favour of a fully-fledged mobile roll-out early next year.

/Innovation

PayPal boss backs bitcoin, but not as a currency

PayPal president David Marcus has predicted that bitcoin could double its value over the next year as it continues to prosper as an investment asset but insists that the cryptocurrency is not a real currency.

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RBC brings P2P transfers to Facebook Messenger

The Royal Bank of Canada (RBC) has added a feature to its iPad app which lets customers send money to their Facebook Messenger contacts.

/Innovation

Clinkle experiences growth pains as 25% of staff shown pink slips

Payments start-up Clinkle appears to be experiencing severe growth pains as it lays off staff and restructures its operations in the wake of a recent $25 million funding round.

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Barclays Bank kicks off fintech accelerator programme

The UK's Barclays Bank is inviting ten start-up companies to take part in a 15-week fintech accelerator programme in conjunction with Techstars

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PNC site lets users build their own partridge in a pear tree

PNC bank is inviting people to build their own virtual gifts based on the items in the Twelve Days of Christmas carol for the chance to win a 3D printed version of their creation.

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China bans banks from bitcoin transactions as Wall Street wades in

China's central bank has finally had its say on bitcoin, ruling that it is not a proper currency and banning financial institutions from handling it.

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Seedrs extends crowdfunded investment round; raises more than £2m from its own platform

Seedrs has secured more than £2m of investment via its own platform, setting a new world record for the most equity raised via a crowdfunding site.

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Apple buys social media sentiment firm Topsy Labs

Apple has bought social media analytics firm Topsy Labs for a reputed $200 milliom.

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ING Direct joins Canadian federated ID exchange network

ING Direct has become the latest Canadian bank to join the SecureKey Consierge service, which enables consumers to log-in to Government Web sites with their online banking credentials.

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UK govt to allow P2P returns within Isas - Telegraph

The UK government is preparing to allow the inclusion of peer-to-peer lending within Isas, giving investors a tax-free return on their investments, according to the Telegraph.

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Alibaba opens cloud computing platform for Chinese banks

Chinese e-commerce company Alibaba has set up a cloud computing service for the country's banks and securities firms.

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Westpac launches app development challenge for Brits

Westpac's New Zealand arm has sent out an SOS to the UK's geeks, launching a mobile and Web banking app design competition, which will see the winning developer score a trip down under.

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Focus on the real-time customer

Giles Nelson, VP at Software AG, discusses the changing needs of the retail banking customer, how banks access and handle their data and the real meaning behind 'omnichannel'.

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Mt. Gox boosts security with one-time password card

Bitcoin exchange Mt. Gox has moved to address security concerns by introducing a physical one-time password (OTP) generating card for users.

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Mashreq packs branches with interactive experience tech

United Arab Emirate-based bank Mashreq is filling a series of new 'E-Cube' branches with Microsoft 'interactive experience technologies'.

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Bitcoin hits $1000 mark

Bitcoin has smashed through the $1000 mark on Mt. Gox, with the virtual currency's price continuing to respond to encouraging noises from Washington lawmakers and growing popularity in China.

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SimplyTapp closes funding round to push HCE-based NFC payments

SimplyTapp, the US start-up which says it created the 'Host Card Emulation' (HCE) approach to mobile NFC payments recently embraced by Google, has raised its series a funding round.