25 July 2014

Latest News

Mobile & online

SBI targets young customers with digital branches

01 July 2014  |  2877 views  |  0

State Bank of India (SBI) has opened six digital branches as part of a campaign to attract young customers who have grown up in the internet and mobile era.

Wholesale banking

First Derivatives creates 484 Northern Ireland jobs

30 June 2014  |  2288 views  |  0

Capital markets tech house First Derivatives will create nearly 500 jobs at its headquarters in Newry, Northern Ireland, after scoring a £3.9 million government grant.

Cards

BBVA introduces HCE-based mobile NFC payments

30 June 2014  |  7232 views  |  0

Spain's BBVA has become the first major global bank to commercially launch a host card emulation-based mobile contactless payments service.

Cards

Telecom Italia to distribute payleven card readers as country cracks down on cash economy

30 June 2014  |  3839 views  |  1

Telecom Italia is to equip small business customers with mPOS chip card readers from payleven as the country enacts new legislation requiring firms to accept debit card payments for any transaction over EUR30.

Retail banking

Osper launches prepaid card and app banking service for kids

30 June 2014  |  4032 views  |  3

UK startup Osper is promising to reinvent banking for young people through a new prepaid card and mobile app-based service.

Mobile & online

Russian Standard Bank enables mobile payments on Samsung smartphones

30 June 2014  |  4358 views  |  2

Russian Standard Bank is to be the first in Europe to enable contactless payments on NFC-enabled Samsung handsets.

Mobile & online

PayPal releases first Android Wear app

27 June 2014  |  6075 views  |  0

PayPal has released an app for the new Android Wear line of smartwatches.

Mobile & online

Royal Bank of Scotland to spend £1 billion on retail transformation

27 June 2014  |  8866 views  |  2

The Royal Bank of Scotland is to spend over £1 billion over the next three years to rebuild its retail banking business, with investment in digital channels as the primary focus.

Trade execution

CME ventures into Mission Impossible territory with investment in Wickr

27 June 2014  |  3768 views  |  0

CME Group has participated in a $30 million funding round for self-destructing messaging app developer Wickr, as the startup bids to move into financial services.

Security

Korean banks under siege from Android malware

27 June 2014  |  5648 views  |  0

Banking Trojans masquerading as Android mobile apps are spreading like wildfire through the smartphones of Korean users, with up to 100,000 devices so far infected.

Payments

Intuit to process bitcoin payments with QuickBooks Online

27 June 2014  |  4375 views  |  0

Intuit is to make bitcoin payments an option for the 624,000 small businesses who use its cloud-based QuickBooks Online financial management software.

Retail banking

Finextra Leadership: Life at L'Atelier BNP Paribas

27 June 2014  |  3563 views  |  0

Finextra speaks to Matthieu Soule about life at L'Atelier, the technology and innovation tracking unit at BNP Paribas.

Cards

Vishing fraud nets £21 million in first five months of 2014

27 June 2014  |  3909 views  |  0

In the first five months of this year, some of the UK's main high street banks have reported losses of over £21 million from vishing attacks, wherein consumers are tricked into handing over personal financial information.

Retail banking

New York set to overtake Silicon Valley as fintech startup hub

26 June 2014  |  7666 views  |  0

The gravitational pull of New York's financial sector is helping the metropolis outstrip Silicon Valley in terms of fintech startup investment, according to a new report by Accenture and the Partnership Fund for New York City.

Retail banking

Monitise acquires loyalty discount business Markco Media

26 June 2014  |  3060 views  |  0

Monitise has acquired discount network Markco Media for a total of up to £55 million as it bids to add retailer offers to its mobile money platform.

Risk & regulation

NY Attorney General files lawsuit over Barclays' 'toxic' dark pool

26 June 2014  |  2967 views  |  1

Barclays Bank has been accused of deceptively luring unwary investors to a private trading venue that was actually being run for the benefit of predatory high-frequency traders.

Payments

US banks going full-tilt for EMV in wake of Target breach

26 June 2014  |  6214 views  |  2

Spurred on by the fall-out from last year's Target data breach, 86% of US financial institutions plan to begin issuing EMV-based chip cards within the next two years, according to the annual debit issuer report from Pulse.

Mobile & online

Mobile overtaking PC as channel of choice for first direct customers

26 June 2014  |  3909 views  |  5

Mobile visits to the website of first direct are to set to overtake desktop log-ins as consumer enthusiasm for banking-on-the-move picks up speed.

Mobile & online

UK govt clears way for mobile cheque deposits

25 June 2014  |  6061 views  |  9

The UK government is pushing ahead with legislation that will see Brits able to pay in cheques remotely by taking photographs with their phones.

Risk & regulation

US watchdog begins cybersecurity probes

25 June 2014  |  3487 views  |  0

The Federal Financial Institutions Examination Council (FFIEC) has commenced a pilot programme at 500 US community banks to assess their readiness to fend of cyber-attacks.

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