133 Results from 2007, /retail
Paul Penrose Head of Research at Finextra
It’s déjà vu all over again. An imminent early switch to daylight savings time in the US is raising fears of a Y2K-style disruption to date-sensitive computer applications. And the problems could extend far beyond US shores. Thanks to a new law aimed at saving energy, daylight savings time in the US will start three weeks earlier on 11 March and en...
22 February 2007 /retail /wholesale
Retired Member
It seems appropriate to start blogging about UK Faster Payments (UKFP), the scheme to provide cheaper and easier "near real-time" via internet and phone banking, by a reference to the most recent APACS announcement. At face value it is reporting good news - the scheme is on track. However, there is the strong hint in the text that even t...
22 February 2007 /payments /retail UK Faster Payments
Belgian financial services firm Fortis has made a bold move into the social networking space with the launch of a new Website. The join2grow network is being touted by the bank as a MySpace for entrepreneurs. Research house Gartner has suggested that banks should monitor emerging Internet social networks for their potential for partnerships, to ...
19 February 2007 /retail Trends in Financial Services
Dave Birch at Consult Hyperion has come up with a splendid wheeze for the tenth annual Digital Money Forum. The goal of the not-for-profit Forum is to encourage discussion and debate around electronic money in all its forms. This year, Dave has got together with toymakers Hasbro UK to run a charity Monopoly tournament at the end of the first day...
16 February 2007 /payments /retail
It’s Valentines Day and the Finextra mailbox, as ever, is crammed with messages of affection from doting PR bunnies. Spurious press releases linked to the annual love-in are an occupational hazard for financial journalists at this time of the year. Our passions were initially aroused by an e-mail from UK insurer Legal & General headlined 'Mat...
14 February 2007 /retail
Researchers from Harvard and MIT have questioned the effectiveness of site image authentication technologies. The technique, pioneered by RSA subsidiary PassMark Security, relies on the exchange of personalised digital images between customer and bank Web site in advance of password entry. In the study, only three per cent of users chose not to l...
07 February 2007 /security /retail
Let’s face it – business videos and podcasts on the Web are a real turn-off. The medium itself has plenty of potential – and at Finextra we’ll be looking to produce more audio/video content over the coming months – but the application of the technology in the business space is all wrong. How many times have you tuned into a Webcast only to tune ...
31 January 2007 /retail Video extravaganza
Red faces at the Polish Competition Authority after the European Commission backed down on threats to outlaw credit card interchange fees on retail transactions. (EC abandons retailers and backs down on interchange fees). The Commission – sensibly enough – has decided to stay its hand on interchange in the absence of any obvious alternative fee-c...
31 January 2007 /retail EBAday
Muted cheers across the City after UK insurer Prudential eventually offloaded its loss-making Internet banking operation Egg to Citigroup for £575 million (Prudential sells Egg to Citigroup). The price, at twice book value, is not bad (UK banks typically sell at 1.5 times book value), but it’s a far cry from the £1.1 billion price tag attached to ...
29 January 2007 /retail Finextra50 fintech index
Further to my recent musings on Microsoft Points (The Virtual Bank of Microsoft), Dow Jones reports on CNN that Microsoft boss Bill Gates has been looking into the possibility of developing an online payment system that will be cheaper than credit card transactions, making it possible for companies to charge small fees for Web-based content and se...
29 January 2007 /payments /retail Trends in Financial Services
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