26 November 2014

Latest News

Virtual currency

RBS embraces crypto-currencies in hackathon challenge

17 November 2014  |  11063 views  |  3

A team from RBS took top honors at the Deloitte Digital #GoneHacking capital markets hackathon on Friday with a trading platform that utilises the Ripple protocol to handle integration with crypto-currencies.

Retail banking

US banks continue to trim branches

14 November 2014  |  4449 views  |  0

US banks and thrifts trimmed a net of 343 high street locations in the third quarter of 2014, continuing the trend of branch closures.

Retail banking

Google pulls plug on in-app Wallet payments

14 November 2014  |  6219 views  |  0

Google is pulling out of the in-app purchasing game by retiring its Google Wallet service for digital goods.

Payments

Aussie telco Optus launches mobile payments app

14 November 2014  |  4547 views  |  0

In an Australian telco first, Optus is launching a contactless payment app that uses Near Field Communication (NFC) and Visa payWave technology to pay for cash purchases below $100.

Retail banking

Isis to mint own currency

14 November 2014  |  3142 views  |  0

The Islamic State of Iraq and Levant, commonly known as the militant group Isis or Isil, is shunning the digital and crypto-currency revolution with its own plans to reinstate ancient Islamic gold, silver and copper coins.

Security

Americans trust banks over Apple for mobile wallets

14 November 2014  |  8746 views  |  1

Despite the fanfare that accompanied Apple Pay's launch, less than a third of Americans would consider obtaining a mobile wallet app from the iPhone maker, while more than two thirds would take a bank's offering, according to a survey from Phoenix Marketing International.

Payments

Amazon wins right to sell .pay and .buy domains

14 November 2014  |  5785 views  |  0

E-commerce giant Amazon has paid millions of dollars in private auctions for the right to sell domains ending in .pay and .buy.

Payments

New UK payments watchdog proposes tough regime

13 November 2014  |  7038 views  |  6

The UK's new Payment Systems Regulator (PSR) has set out its plans to regulate the £75 trillion industry via a package of measures intended to promote innovation and competition and provide fairer access to payment systems.

Payments

Retailers and banks take data breach fight to Congress

13 November 2014  |  4531 views  |  1

The war of words between retailers and banks over cyber-security failures has moved to the political stage, as lobby groups for both parties petition the political elite on Capitol Hill for legislative action to curb future data breaches.

Retail banking

Vodafone SmartPass arrives in the UK

13 November 2014  |  5486 views  |  3

SmartPass, the mobile contactless payments services developed by Vodafone with Visa has quietly been launched in the UK following several global rollouts.

Mobile & online

Square to release chip card reader with $29 price tag

13 November 2014  |  4080 views  |  6

Square has announced plans for a new chip card reader that will retail with a $29 price tag and replace its current free-of-charge mag-strip-only dongle.

Mobile & online

MasterCard forecasts death of static passwords with 3DS 2.0

13 November 2014  |  9143 views  |  2

MasterCard says a forthcoming wholesale upgrade of the 3DSecure protocol for authenticating online transactions will pave the way for the introduction of more secure biometric and token-based prompts and the ultimate eradication of static passwords.

Retail banking

BAI Retail Delivery: Digital banking must go beyond transactional to personalised

13 November 2014  |  3966 views  |  0

There is a widening gap between Americans' digital expectations and what their banks are delivering, but firms that act to shape their use of technology to deliver personalised services could significantly boost their profits, research from Cisco suggests.

Mobile & online

Travelex plans digital recruitment drive; sets up $25 million seed fund

13 November 2014  |  7226 views  |  0

Foreign exchange provider Travelex has amassed a £25 million digital growth fund to make strategic seed investments and technology acquisitions in the retail and fintech sectors.

Mobile & online

Ulster Bank fined EUR3.5 million over IT meltdown

12 November 2014  |  2540 views  |  1

The Central Bank of Ireland has slapped a EUR3.5 million fine on Ulster Bank over IT governance failures that resulted in approximately 600,000 customers being deprived of banking services during a month-long period in 2012.

Transaction banking

BNP Paribas: The five ways Bitcoin can shake up the financial services world

12 November 2014  |  20594 views  |  2

Bitcoin could become a market-leading technology that will change the way financial systems are engineered says BNP Paribas, in an analysis of the potential disruptive impact of the crypto-currency on banking and asset servicing.

Payments

Sainsbury's bids to kill the checkout queue with mobile shopping app

12 November 2014  |  6019 views  |  1

UK supermarket Sainsbury's is piloting an app designed to cut the duration of a weekly shop by guiding users around stores and letting them pay through their handsets.

Transaction banking

Markit, Genpact sign 600 firms for KYC portal: appoint CEO

11 November 2014  |  4669 views  |  0

Markit and Genpact say that they have signed over 600 buy side firms and corporations for their KYC data sharing portal and named former Goldman Sachs man John May as chief executive of the utility.

Start ups

TransferWise sniffs $1 billion valuation as Sequoia Capital plots $50m investment

11 November 2014  |  4387 views  |  0

Peer-to-peer currency startup TransferWise is in advanced discussion to raise $50 million from Sequoia Capital in a deal that would value the London-based company at close to $1 billion.

Retail banking

Capita wins Co-operative Bank mortgage contract

11 November 2014  |  2434 views  |  0

Capita has emerged as the preferred bidder for a 10-year, £325 million contract to run the mortgage book of the UK's Co-operative Bank.

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