24 July 2017
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Latest retail banking news

Competition watchdog green lights plans to merge UK payment schemes

Competition watchdog green lights plans to merge UK payment schemes

12 July 2017  |  8466 views  |  1 comments | 16 tweets | 19 linkedin

The UK payments industry is facing further upheaval as the Competition and Markets Authority approves consolidation of the operators of Bacs, the Cheque and Credit Clearing Company and Faster Payments Scheme into a New Payments Systems Operator.

Revolut scores bumper $66 million investment round

Revolut scores bumper $66 million investment round

12 July 2017  |  6215 views  |  0 comments | 15 tweets | 13 linkedin

Money transfer outfit Revolut has scored a bumper $66 million investment round and announced plans for a £4 million crowdfunding campaign as it looks beyond Europe's borders to Asia and the US and builds on its progression into a fully-fledged banking-as-a-service platform.

Santander InnoVentures steps up fintech spending

Santander InnoVentures steps up fintech spending

12 July 2017  |  10326 views  |  0 comments | 21 tweets | 7 linkedin

Santander InnoVentures, the venture capital fund of Santander Group, is moving ever deeper into the fintech ecosystem with strategic investments in the UK startups Pixoneye and Curve and US based Gridspace.

Debit cards overtake cash to become UK's top payment method

Debit cards overtake cash to become UK's top payment method

12 July 2017  |  12537 views  |  3 comments | 36 tweets | 60 linkedin

For the first time, debit cards have overtaken cash to become the number one payment method in the UK, according to data collected by the British Retail Consortium (BRC).

Self-service kiosk vendor hit by hackers

Self-service kiosk vendor hit by hackers

12 July 2017  |  6631 views  |  1 comments | 6 tweets | 9 linkedin

US firm Avanti Markets says that nearly 2000 of its self-service payment kiosks have been infected with malware, putting customers' card data at risk.

World Bank's IFC targets financial inclusion through $15m CompareAsiaGroup investment

World Bank Group member IFC is looking to boost financial inclusion and literacy in Southeast Asia through a $15 million investment into local online marketplace CompareAsiaGroup.

OCC warns banks on fintech risks

OCC warns banks on fintech risks

11 July 2017  |  9276 views  |  0 comments | 9 tweets | 15 linkedin

US banks are opening themselves up to increased strategic risk by moving into new products and services as a way to take on emerging fintech rivals, warns the Office of the Comptroller of the Currency (OCC) in a report which also highlights the threat of cyber attacks and an increased reliance on third-party tech service providers.

Consumer groups and fintech firms at loggerheads over screen scraping

Consumer groups and fintech firms at loggerheads over screen scraping

11 July 2017  |  7203 views  |  7 comments | 9 tweets | 8 linkedin

European consumer interest group BEUC has waded into the screen-scraping debate, urging banking authorities to ban the practice in favour of the creation of a harmonised interface for customer data sharing.

Elon Musk buys X.com domain from PayPal

Elon Musk buys X.com domain from PayPal

11 July 2017  |  5713 views  |  1 comments | 8 tweets | 7 linkedin

PayPal has sold the precious domain name X.com to its previous owner, space age entrepreneur Elon Musk.

HSBC and Barclays join EU project to test the use of digital IDs for cross-border banking

HSBC and Barclays join EU project to test the use of digital IDs for cross-border banking

11 July 2017  |  14562 views  |  0 comments | 44 tweets | 42 linkedin

HSBC and Barclays are among a consortium of private and public sector organisations testing the use of a citizen’s national digital identity from France to open a bank account in the UK.

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