22 December 2014

Latest News

Start ups

BBVA acquires big data startup Madiva

10 December 2014  |  8014 views  |  1

BBVA has acquired Spanish big data and cloud computing startup Madiva Soluciones as part of its strategy to buy up companies that are developing new technologies and disruptive business models.

Retail banking

Banks must modernise IT systems for new regulatory regime - Deutsche Bundesbank exec

09 December 2014  |  5493 views  |  2

A senior executive at Deutsche Bundesbank has warned that banks will have to spend considerable sums on upgrading their IT systems if they are to cope with insatiable regulatory appetite for new data reporting standards.

Payments

Nacha sets out plans for same-day ACH

09 December 2014  |  3881 views  |  1

America's slow march towards faster payments has taken another step, with the Nacha setting out its plan to introduce same-day ACH clearing and settlement over the next few years.

Cards

Russia's National Payment System gears up for pilot

09 December 2014  |  5071 views  |  0

Several Russian banks, including some subject to Western sanctions, will next week begin testing the country's new card payments system, designed to take on Visa and MasterCard.

Payments

VC investment in payments sector reaches all-time high

09 December 2014  |  5127 views  |  0

Venture capital investment in European payment companies is at an all-time high, as a shift in consumer behaviour to online and mobile channels blows the market wide open for smart startups.

Wholesale banking

Banks should focus digital investments on back office - McKinsey

09 December 2014  |  7222 views  |  3

Banks looking for a pay-off from investments made in digital processes should focus on back office automation projects and steer clear of multi-channel integration, according to research from McKinsey.

Wholesale banking

Immediate payments 'next frontier' for European integration - ECB

09 December 2014  |  9387 views  |  1

With progress towards a single euro payments area well in train, the European Central Bank has identified instant payments with immediate availability of funds as the industry's next frontier for harmonisation and cross-border collaboration.

Security

Symantec called in to verify .bank domain applicants

09 December 2014  |  3999 views  |  0

Symantec has been chosen by fTLD Registry Services to verify firms looking to get their hands on the new .bank and .insurance generic top-level domains.

Mobile & online

Bank-backed QR code-based mobile payments app launches in Belgium

08 December 2014  |  7880 views  |  3

A QR code-based mobile wallet that can be used for in-store, in-app, online and P2P payments has launched in Belgium with the backing of the country's major banks.

Retail banking

MasterCard and CIBC join $70m Dynamics funding round

08 December 2014  |  3547 views  |  0

MasterCard and Canadian bank CIBC have joined a $70 million series c funding round for Dynamics, an American outfit that makes "interactive" payment cards with buttons that users press to access different features.

Payments

Faster Payments to ease access for PSPs and tech companies

08 December 2014  |  7431 views  |  2

The UK's Faster Payments scheme has issued proposals for a new access model that could open up the platform to challenger banks and technology companies who want to remain at the forefront of the real-time payments revolution.

Wholesale banking

Data science to the fore in UBS Innovation Challenge

08 December 2014  |  3275 views  |  0

A Singaporean data science company has bagged a S$40,000 prize and a chance to work with one the world's largest banks after triumphing in an Innovation Challenge set by UBS.

Mobile & online

Barclays extends cheque imaging pilot to one million customers

05 December 2014  |  17954 views  |  2

Ahead of Christmas, Barclays is giving one million customers the ability to pay in cheques remotely by taking photographs with their phones.

Payments

Retailer bebe suffers card security breach

05 December 2014  |  5826 views  |  0

Women's clothes retailer bebe stores says that its payments processing system was hit by hackers last month, putting customer card data at risk.

Virtual currency

Bitcoin's Black Friday 'bonanza'

05 December 2014  |  6215 views  |  0

While bitcoin's advance into the mainstream remains patchy, the crypto-currency still emerged as the ninth most popular payment method during the Black Friday and Cyber Monday shopping frenzy earlier this week.

Retail banking

Westpac to debut fingerprint access for mobile banking

05 December 2014  |  6002 views  |  1

Customers of Westpac will soon be able to call up access to their bank applications on Apple and Samsung mobile devices by logging in with a fingerprint.

Retail banking

NAB to hold cloud computing hackathon

05 December 2014  |  5090 views  |  0

National Australia Bank is opening up its API to developers inside and outside the bank for a one-day cloud computing hackathon, dubbed iDay, this coming weekend.

Retail banking

Monitise signs Virgin Money

05 December 2014  |  4856 views  |  0

Recently-floated Virgin Money has struck a seven-year agreement with Monitise to develop a suite of digital, mobile banking services.

Payments

Japanese messaging outfit Line launches m-payments service

05 December 2014  |  3908 views  |  1

Japanese messaging giant Line is rolling out its mobile payments service for online and in-store transactions to users around the world.

Mobile & online

India's central bank calls for mobile adoption drive

05 December 2014  |  3645 views  |  0

India's banks are being urged to embark on a campaign to collect customer mobile phone numbers to help boost the country's so far sluggish take-up of m-banking services.

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