01 November 2014

Latest News

Mobile & online

Lloyds commits £1 billion to digital amid massive job cuts and branch closures

28 October 2014  |  12252 views  |  0

Lloyds Banking Group has confirmed 9000 job losses and the closure of 150 branches alongside plans to pump an additional £1 billion into digital channels over the next three years.

Payments

Forgetful Aussies can now lock misplaced credit cards with new CommBank app

28 October 2014  |  4825 views  |  2

Australia's Commonwealth bank has introduced a new mobile and online app that customers can use to temporarily lockdown a credit card which may have been lost or stolen.

Wholesale banking

EU regulators ask for FX traders' Facebook chats - Bloomberg

27 October 2014  |  3024 views  |  0

European Union antitrust regulators have asked banks to hand over the Facebook messages of foreign exchange traders, according to Bloomberg.

Mobile & online

Charity app uses logo recognition for donations

27 October 2014  |  4005 views  |  1

A new app has launched that lets cashless Brits use their mobile phones to snap photos of charity logos to make donations.

Payments

In face of mobile money onslaught, Atmia makes pro-cash rallying cry

27 October 2014  |  3086 views  |  1

With mobile money hogging the headlines thanks to the recent launch of Apple Pay, the ATM Industry Association (Atmia) is hitting back with a campaign extolling the virtues of old-fashioned cash.

Wholesale banking

OpenGamma names Beeston as chairman; appoints Conde to the board

27 October 2014  |  2841 views  |  0

Open source risk management outfit OpenGamma has named Mark Beeston as its new chairman and appointed Cristobal Conde to its board of directors as it leans on heavyweight industry support to move the company forward.

Cards

Apple Pay hits roadblock as US pharmacies disable NFC access

27 October 2014  |  10915 views  |  6

Two of the biggest pharmacy chains in the US have disabled NFC terminals in an attempt to shut out Apple Pay ahead of the launch of retailer-backed platform CurrentC in 2015.

Retail banking

Standard Bank deploys IBM's Watson to crunch customer data

24 October 2014  |  6304 views  |  0

Standard Bank of South Africa has become the latest financial institution to enlist IBM's Watson cognitive computing platform to help it make the most of customer data.

Retail banking

MasterCard raises the stakes for Money20/20 hackathon

24 October 2014  |  5160 views  |  0

MasterCard has raised the stakes for developers participating in the Money20/20 hackathon by chucking in a VIP Las Vegas experience and six-month access to its Startpath incubator programme for the winning team.

Cards

RBA warns Australian banks not to backtrack on payments modernisation

24 October 2014  |  21623 views  |  2

The Reserve Bank of Australia has warned that it will be "duty bound" to use its regulatory powers should the nation's banks fail to deliver on promises to modernise the country's payments infrastructure.

Virtual currency

MIT scientist develops algo to predict bitcoin price

23 October 2014  |  2973 views  |  0

Bitcoin's notoriously volatile price may look like it bounces around arbitrarily but an MIT computer scientist has developed a machine-learning algorithm that appears to have found a pattern in the mayhem, helping him to nearly double his investment in less than two months.

Mobile & online

Etsy moves offline with mPOS play

23 October 2014  |  3849 views  |  0

E-commerce marketplace Etsy is setting its sights on the real world, entering the crowded mPOS market with its own app and card reader combo.

Retail banking

MasterCard invests in Mozido

23 October 2014  |  3846 views  |  0

US mobile payment outfit Mozido has completed the first phase of a $400 million funding round with support from MasterCard as it looks to expand its geographical footprint through a series of strategic acquisitions.

Payments

Rotten Apple? BofA duplicates Apple Pay transactions

23 October 2014  |  3737 views  |  5

Early reports of a clumsy interface between thumbprint, iPhone and eftpos terminal and an unfortunate case of double-charging by Bank of America has taken the shine off what at first appeared to be a relatively trouble-free introduction of Apple's new mobile payment service.

Payments

The Clearing House wakes up to real-time payments

23 October 2014  |  5085 views  |  3

US bank-backed ACH The Clearing House is to undertake a multi-year effort to build a new real-time processing platform, as the country finally begins to get to grips with its antiquated payment systems.

Cards

MasterCard offers free WiFi to cardholders visiting the UK

23 October 2014  |  5526 views  |  6

MasterCard has partnered with BSkyB-owned The Cloud to offer cardholders visiting Britain free access to more than 22,000 WiFi hotspots.

Retail banking

Ex-Pimco boss El-Erian invests in P2P lender Payoff

22 October 2014  |  2690 views  |  0

Former Pimco chief executive Mohamed El-Erian has become the latest big name from the world of traditional financial services to take an interest in P2P lending, making an investment in US outfit Payoff.

Payments

Payments sector dominates booming fintech M&A activity

22 October 2014  |  4898 views  |  0

The value of fintech-related mergers and acquisitions hit $10 billion in the last three months, with deals involving payments firms dominating, data from investment bank Berkery Noyes shows.

Mobile & online

Nordea to take EUR344 million IT charge as core platforms are upgraded

22 October 2014  |  12129 views  |  0

Nordea Bank is to take a EUR344 million impairment charge on its current IT systems as it embarks on a major project to rip and replace its core banking and payments platforms.

Retail banking

Android malware mutations on the rise

22 October 2014  |  4521 views  |  0

The incidence of mobile malware assaults by banking trojans may be overstated, but mutations in attack vectors are growing at an alarming rate, according to a report by Kaspersky Lab and Interpol.

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