27 January 2015
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Latest News

Cards

Thieves use iPod nano in low-tech ATM skimming fraud

21 January 2015  |  5629 views  |  1 comments | 8 tweets | 10 linkedin

Thieves in Manchester have been recycling redundant iPod nano devices to snap photos of consumers entering their PINs at an ATM machine in a somewhat crude take on traditional skimming fraud.

Cards

Amazon retreats from mobile wallet space

21 January 2015  |  8486 views  |  1 comments | 38 tweets | 32 linkedin

Amazon has pulled the plug on its mobile wallet app following a disappointing six-month trial run.

Payments

Supreme Court declines retailers' interchange challenge

21 January 2015  |  4224 views  |  1 comments | 8 tweets | 8 linkedin

The US Supreme Court has rejected a challenge from retailers to the Federal Reserve's rules on interchange fees.

Risk & regulation

US credit union regulator coughs up $50k for lost thumb drive

20 January 2015  |  3006 views  |  0 comments | 1 linkedin

America's credit union regulator has agreed to pay up to $50,000 to cover costs associated with a data breach that saw it lose a thumb drive handed over to one of its examiners by Palm Springs Credit Union.

Virtual currency

Financial institutions join record-breaking bitcoin funding round

20 January 2015  |  5447 views  |  0 comments | 14 tweets | 6 linkedin

Three major financial institutions have contributed to a record-breaking $75 million investment round in bitcoin startup Coinbase.

Wholesale banking

Regulate bitcoin, but leave the blockchain alone say banking trade bodies

20 January 2015  |  8321 views  |  7 comments | 32 tweets | 29 linkedin

The British Bankers Association and the Payments Council have called for the Government to take a 'light touch' to regulation of the underlying bitcoin blockchain technology, which they say has the potential to fundamentally change the way financial assets are transferred.

Wholesale banking

Money managers to set up own dark pool

20 January 2015  |  3392 views  |  0 comments | 3 tweets | 3 linkedin

Fidelity and eight other money managers have set up a joint venture company to launch a private dark pool for buying and selling large blocks of stocks without the involvement of banks and predatory high frequency trading firms.

Mobile & online

USAA to roll out voice and facial authentication for mobile log-in

20 January 2015  |  6018 views  |  1 comments | 17 tweets | 16 linkedin

Texas-based USAA is to offer consumers the option of using voice and facial recognition technologies to log into their accounts over mobile devices.

Retail banking

FCA bids to boost transparency in cash savings market

20 January 2015  |  1507 views  |  0 comments | 1 tweets | 1 linkedin

The Financial Conduct Authority is proposing a shake up of the £700 billion cash savings market after research showed that UK consumers are getting a raw deal from financial services firms.

Payments

Icici introduces Twitter-based money transfers

20 January 2015  |  6722 views  |  2 comments | 23 tweets | 6 linkedin

India's Icici Bank has introduced a convoluted process that lets customers send money to friends and family via Twitter.

Mobile & online

Google in talks to buy Softcard

19 January 2015  |  6047 views  |  1 comments | 16 tweets | 16 linkedin

Google is in talks to buy US telco-owned mobile payments venture Softcard for between $50 million and $100 million, according to press reports.

Mobile & online

Moving from cheques to mortgages, Barclays to accept photos of customer documents

19 January 2015  |  7464 views  |  1 comments | 12 tweets | 17 linkedin

Barclays bank has rolled out a system which enables mortgage brokers to take photos of paperwork for immediate upload to customer case files.

Start ups

Canary Wharf Group opens new startup space

19 January 2015  |  5247 views  |  0 comments | 21 tweets | 6 linkedin

Canary Wharf Group (CWG) has opened a new 25,000 square foot space dedicated to tech startups at its One Canada Square high rise, reflecting London's growing status as a global technology hub.

Retail banking

IT budgets up as business volumes improve - CBI/PwC

19 January 2015  |  3763 views  |  0 comments | 12 tweets | 5 linkedin

An upturn in business volumes and increase in compliance demands is encouraging UK financial firms to raise IT budgets in a bid to reach new customers and shake off competition from new market entrants, according to the latest quarterly survey from the Confederation of British Industry (CBI) and PwC.

Retail banking

Regions Bank targets students with golf-based money management game

16 January 2015  |  5618 views  |  0 comments | 4 tweets | 2 linkedin

Regions Bank is hoping to get down with the kids through a gamified financial literacy game based on the cool, young sport of...golf.

Wholesale banking

US and UK to stage cyber war game against banks

16 January 2015  |  10613 views  |  0 comments | 20 tweets | 24 linkedin

The US and UK are to wage a series of cyber 'war games' against each other to test the resilience of the two country's defences against online criminals, beginning with a mock exercise directed at the banking and finance sector.

Retail banking

ANZ serves up an ace with social media tennis rally

16 January 2015  |  3858 views  |  0 comments | 4 tweets | 1 linkedin

ANZ is aiming to create the world’s largest tennis rally on social media, with a $100,000 dollar pot to be shared by community campaigns in return for a photo or video of customers hitting a tennis ball.

Retail banking

Barclays launches 'Code Playground' to arm UK consumers with tech skills

16 January 2015  |  6297 views  |  0 comments | 14 tweets | 8 linkedin

Barclays is launching an online and in-branch 'Code Playground' to help families of all ages acquire digital skills and knowledge.

Retail banking

Google shelves sales of hi-tech goggles

16 January 2015  |  4693 views  |  1 comments | 9 tweets | 8 linkedin

Memo to bank innovation teams: Take off the rose-tinted spectacles and put on your smart watches, Google ceases consumer sales of Glass eyewear.

Wholesale banking

Google partners Lending Club on biz financing programme

15 January 2015  |  8780 views  |  0 comments | 18 tweets | 10 linkedin

P2P lending platform Lending Club has teamed up with Google to offer loans to the Web giant's partner firms.

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