Latest Retail banking News: Finextra Research

Jail terms for AIT directors are slashed on appeal

After payment of fines totalling £982,000, Carl Rigby and Gareth Bailey have won their appeals for a reduction in their prison terms.

21 December 2005

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Finextra Research signs off for Christmas and New Year break

The Finextra office will be closed after Tuesday 20 December, re-opening Wednesday 4 January.

20 December 2005

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Australian central bank to cap Eftpos entry costs

The Reserve bank of Australia is looking to cap the costs of POS terminal provision on the high street as part of an ongoing series of reforms aimed at stimulating competition in the domestic payments market.

20 December 2005

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Misys Banking chief Martin steps down

Ivan Martin, CEO of Misys banking Systems is to leave the company, ending a ten-year association with the UK software house. News of his departure comes as Misys reports an improving outlook for revenues and order intake at its largest division.

20 December 2005

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Lloyds TSB to sell Goldfish to Morgan Stanley

Lloyds TSB is to sell the Goldfish credit card business to Morgan Stanley for £1 billion, representing a premium of £175 million.

20 December 2005

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Ingenico cues up payments by iPod

French terminal vendor Ingenico has developed a prototype payment terminal capable of communicating with IPods and other MP3 music players.

20 December 2005

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Japanese ATMs open access to Chinese cardholders

Eight hundred million China UnionPay (CUP) cardholders are to get access to ATM networks in Japan through a gateway platform provided by JCB International.

19 December 2005

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EDB Business Partner looks for growth in cards sector with TAG acquisition

EDB Business Partner is to acquire the Norwegian card company TAG Systems, for Nkr250 million and assumption of Nkr50 million debt.

19 December 2005

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Thai banks to set up Internet payments network

The Bank of Thailand (BOT) has approved the setting up by the Thai Bankers’ Association of a national Interbank Transaction-Management Exchange (ITMX) to provide electronic payment services over the Internet, according to a report in The Nation newspaper.

19 December 2005

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ABN Amro customer data tape lost in transit

ABN Amro Mortgage Group, a US subsidiary of the Dutch banking giant, says a computer tape containing the confidential data for two million customers was lost while being transported to a credit bureau.

16 December 2005

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First Data cuts three per cent of workforce

US e-payments processor First Data says it is cutting three per cent of its workforce and will implement further cost reduction measures before the end of the year.

16 December 2005

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Voca and Link win UK e-payments tender

Clearing house Voca and cash machine network operator Link have won a contract to supply a new near-real-time e-payments clearing system for the UK banking industry.

16 December 2005

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