30 September 2014

Latest News

Risk & regulation

Banks warned on IT risks

22 September 2014  |  5658 views  |  0

EU supervisory authorities are warning banks to reinforce IT controls and audits on third-party technology providers and to ringfence budgets related to operational risk.

Payments

Chase mobilises food trucks to feed the Apple fanboi lines

19 September 2014  |  5622 views  |  1

Chase has hired a fleet of food trucks to provide sustenance to Apple fanbois waiting in line for the new new iPhone 6 and 6 Plus models.

Security

Home Depot says 56 million payment cards compromised in breach

19 September 2014  |  5462 views  |  9

US retail chain Home Depot says that 56 million payment cards are at risk following a malware-laden cyber-attack on eftpos tills across its stores in the US and Canada.

Transaction banking

Swift baulks at EU resolution on Russian expulsion

19 September 2014  |  6092 views  |  0

Swift has given a strongly worded response to a European Parliament resolution calling on the EU to consider expelling Russia from the financial messaging network.

Post-trade & ops

Finextra expands into North America

19 September 2014  |  8938 views  |  0

Just as fintech steps from the shadows into the mainstream, Finextra is establishing a local North American editorial presence.

Wholesale banking

London event challenges fintech-types to launch a startup in a weekend

19 September 2014  |  4015 views  |  1

Fintech developers, designers and entrepreneurs are being invited to gather in London next month for a 54-hour hackathon that could see them win help from industry heavyweights to develop their ideas.

Payments

Rabobank introduces QR code-based online banking authentication

19 September 2014  |  7176 views  |  1

Rabobank is tapping Vasco Data Security technology for a new security system that authenticates online customers through high definition QR codes.

Payments

Mahindra Comviva and First Data prep Indian mPOS rollout

18 September 2014  |  3280 views  |  1

India's Mahindra Comviva is partnering up with First Data to push its mPOS technology to the country's huge merchant community.

Wholesale banking

Earthport eyes Asian opportunity on £26.6 million placing

18 September 2014  |  3349 views  |  2

Cross-border payments network Earthport has raised £26.6 million through the placing of 65 million shares with a mix of new and existing institutional investors.

Payments

Hong Kong signs for Swift RTGS backup system

18 September 2014  |  2465 views  |  1

Hong Kong Interbank Clearing Limited (HKICL) has signed up to deploy Swift's new Market Infrastructure Resiliency Service (MIRS), which provides a backup to the territory's real time gross settlement (RTGS) system in the event of a catastrophic breakdown.

Mobile & online

Monitise shares plunge as Visa ponders stake sell-off

18 September 2014  |  3944 views  |  0

Shares in Monitise plummeted more than 25% in morning trading on news that Visa is "considering its options" on its 5.5% stake in the mobile money firm.

Payments

BNP Paribas Fortis and SIX Payment Services target Belgian merchants

18 September 2014  |  3272 views  |  1

BNP Paribas Fortis and SIX Payment Services are promising to bust the Bancontact/Mister Cash monopoly in Belgium by launching their own one-stop payments shop for merchants, covering everything from terminals to acquiring services.

Mobile & online

MasterCard envisions biometric future

18 September 2014  |  8027 views  |  0

MasterCard is claiming a 98% success rate for pilot trials of a biometric verification system combining both voice and facial recognition.

Start ups

Westpac launches innovation challenge

18 September 2014  |  2568 views  |  0

Westpac has teamed up with venture technology accelerator BlueChilli to challenge Australia's startups to develop ways to help the bank's business customers.

Retail banking

Simple adds support for TouchID and Android Wear

18 September 2014  |  2975 views  |  0

US neo-bank Simple has added support for Apple's TouchID and Android-powered wearable devices, as it bids to reclaim its credentials as an innovator in financial services following complaints from customers about buggy software issues on its platform.

Payments

Gates Foundation launches challenge to boost mobile money acceptance

18 September 2014  |  4959 views  |  0

The Bill & Melinda Gates Foundation is aiming to accelerate the adoption of digital payments in the developing world by offering grants to firms that make it easy for small merchants to accept mobile money.

Payments

Orange Money ties up with Bank of Africa for mobile banking

17 September 2014  |  2936 views  |  0

Wireless operator Orange has integrated its mobile Money platform with the Bank of Africa, enabling users to perform basic banking transactions with their handsets.

Wholesale banking

European card issuers the losers as global payments revenues show upward trend

17 September 2014  |  6008 views  |  1

European card issuers stand to lose $8 billion per year from a revenue pool of $60 billion beginning in 2015, as stiffer regulation and caps on interchange fees take their toll, according to a study by the Boston Consulting Group.

Retail banking

First direct tops customer service charts - Which?

17 September 2014  |  2823 views  |  2

First direct, a bank that has no high street branches but still manages to make its customers feel valued, is the top-rated brand for customer service in the UK, according to a survey by consumer champion Which?

Retail banking

Bank tellers indicted in $850,000 identity-theft ring

17 September 2014  |  2603 views  |  0

The New York Attorney General's office has charged five individuals, including three bank tellers, with running an identity-theft ring that stole $850,000 from some of New York's biggest banks over a four-year period.

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