24 April 2014

Latest News

Retail banking

Researchers hack mPOS devices, play Flappy Bird

07 April 2014  |  9188 views  |  2

Mobile point-of-sale (mPOS) devices can be easily hacked, leaving banks, retailers and customers open to fraud, claims MWR InfoSecurity, which has even managed to play Flappy Bird on one reader.

Cards

ATM glitch gives homeless man $37k

07 April 2014  |  3339 views  |  1

A malfunctioning ATM erroneously spat out $37,000 for a homeless man who was picked up by police before he could make off with his haul.

Security

Royal Canadian Mint ditches MintChip digital currency project

07 April 2014  |  5828 views  |  2

The Royal Canadian Mint has pulled the plug on its MintChip cloud-based digital currency and is looking to offload the business.

Retail banking

Finnish telco hawks pre-loaded contactless payments stickers

04 April 2014  |  3256 views  |  3

Finnish telco Elisa has teamed up with convenience store chain R-kioski to sell pre-loaded contactless payments stickers.

Cards

As US card fraud rises, firms increase security spending

04 April 2014  |  3388 views  |  1

US credit card fraud increased last year despite efforts by firms to beef up their security, according to an Association for Financial Professionals (AFP) survey.

Payments

Barclays' customers spending £6.6 million per month with contactless

04 April 2014  |  4597 views  |  0

Barclaycard says its customers are now spending £6.6 million per month on their contactless cards, as the firm celebrates the fifth anniversary of the introduction of the technology to the UK.

Security

Ellie Mae hit by DDoS attack

04 April 2014  |  2701 views  |  0

Mortgage origination software provider Ellie Mae says that a distributed denial of service (DDoS) attack is to blame for its systems falling over earlier this week.

Trade execution

Schwab calls on regulators to outlaw the "aggressive cancer" of high-frequency trading

04 April 2014  |  4348 views  |  4

Wading into the raging debate about the impact of high-frequency trading on stock market investing, Charles Schwab has decried the practice as a "growing cancer" that needs to be excised.

Retail banking

ANZ CIO Weatherston quits

04 April 2014  |  2285 views  |  0

ANZ is on the hunt for a new chief information officer following the sudden departure of Anne Weatherston.

Mobile & online

NatWest glitch denies savers interest

03 April 2014  |  2860 views  |  0

A technical glitch has seen NatWest fail to pay interest on thousands of customer savings accounts and ISAs.

Security

As cyber threat grows, EU regulators warn FS firms on IT budgets

03 April 2014  |  3655 views  |  0

Europe's financial institutions have been told by regulators that they must protect their IT budgets in order to guard against the growing threat of cyber attacks.

Security

Hackers steal Texas liquor store chain customer data

03 April 2014  |  3035 views  |  0

More than half a million people may have had their card data stolen after a data breach at Texas wine and liquor store chain Spec's which dates back 18 months.

Retail banking

Banks losing millions to new wave of ATM hacks - FFIEC

03 April 2014  |  5475 views  |  4

US regulators have warned banks to protect their automated teller machines and card authorisation systems from a fresh wave of cyber-attacks that seek to exploit ATM control weaknesses to spew out millions of dollars in fraudulent withdrawals.

Mobile & online

RBS to close 44 branches as customers go mobile

03 April 2014  |  3944 views  |  0

RBS is shutting 44 branches across the UK, blaming a 30% fall in in-store transactions over the last few years for its decision.

Mobile & online

Channel management key priority for banks as consumer contact points proliferate

02 April 2014  |  4189 views  |  3

UK consumers used an average of 6.2 channels to do business with their banks in 2014, driven by a surge in uptake of digital and social communications tools.

Payments

Discover invests in loyalty rewards start-up Buzz Points

02 April 2014  |  2524 views  |  0

Discover Financial Services has invested in Buzz Points as part of a $19 million funding round for the loyalty rewards outfit.

Payments

UK's Paym P2P mobile payments service set for 29 April launch

02 April 2014  |  7317 views  |  17

Person-to-person mobile payments service Paym will be rolled out by Britain's banks at the end of this month.

Risk & regulation

FBI investigates high-speed trading

01 April 2014  |  3447 views  |  1

The Federal Bureau of Investigation is investigating whether high-speed traders are breaking the law by acting on non-public information ahead of the wider markets.

Cards

Feds bust international card fraud gang

01 April 2014  |  3214 views  |  0

US authorities have indicted 17 people accused of using stolen card data from Europe to withdraw hundreds of thousands of dollars from ATMs in Chicago.

Mobile & online

Bottomline to buy customer acquisition specialist Andera

01 April 2014  |  2161 views  |  0

Bottomline Technologies has struck a deal to buy customer acquisition software provider Andera in a cash and stock deal worth around $48 million.

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