27 January 2015

Latest News

Retail banking

Google sues Visa and MasterCard over interchange fees

06 January 2015  |  11946 views  |  0 comments | 38 tweets | 41 linkedin

Google is suing Visa and MasterCard over the card giants' interchange fees, alleging that they violated federal antitrust law.

Security

Morgan Stanley fires employee accused of posting stolen customer data online

05 January 2015  |  4558 views  |  3 comments | 5 tweets

Morgan Stanley has fired an employee who it says stole data on 350,000 clients, posting some of it online.

Retail banking

Tencent launches China's first online-only bank

05 January 2015  |  4334 views  |  1 comments | 22 tweets | 9 linkedin

Internet giant Tencent has launched China's first online-only private bank in a ceremony attended by the country's premier, Li Keqiang.

Retail banking

No happy new year for bitcoin as prices slump and Bitstamp suspends services

05 January 2015  |  5058 views  |  3 comments | 9 tweets | 6 linkedin

The Bitcoin ecosystem is picking up where it left off in 2014, with a further slump in volume and prices and fresh concerns over the fate of funds deposited with exchange operator Bitstamp, which has suspended services over a possible compromise of its 'hot wallet'.

Mobile & online

Moven ports 'financial fitness' app to smartwatch

05 January 2015  |  6543 views  |  5 comments | 12 tweets | 12 linkedin

Moven is looking to cash in on the New Year resolutions of customers and prospects for physical and financial fitness by launching its budgeting app on Motorola's 360 and Samsung Gear smartwatches.

Retail banking

Santander hides Secret Santa Jenson Button inside ATM

02 January 2015  |  7409 views  |  2 comments | 9 tweets | 5 linkedin

Santander brought some cheer to customers over Christmas by squeezing Formula 1 driver and Secret Santa Jenson Button inside an ATM.

Retail banking

Alleged Lizard Squad hacker fingered for PayPal fraud

02 January 2015  |  4924 views  |  0 comments | 6 tweets | 2 linkedin

A 22-year old man connected with the notorious Lizard Squad group of hackers has been arrested by Thames Valley police on suspicion of a series of PayPal-related fraud offences.

Risk & regulation

Bank of England turns to Twitter and Facebook to help set interest rates

02 January 2015  |  19129 views  |  5 comments | 32 tweets | 23 linkedin

The Bank of England is setting up a taskforce to monitor social media posts and online jobs boards to get a clearer picture of economic activity and help inform monetary policy decisions.

Mobile & online

Yule log on to online banking

02 January 2015  |  3369 views  |  0 comments | 8 tweets | 2 linkedin

According to Halifax, 12% of active online banking customers found time to log on to their bank account on Christmas Day 2014, a 37% increase on the previous year

Trade execution

That was the year that was

22 December 2014  |  40272 views  |  0 comments | 16 tweets | 12 linkedin

As Finextra pulls the shutters down on 2014, we take a look back at our most popular news stories, videos, features and blogs over the course of the past year. The site will re-open for business on 2 January 2015.

Security

Russian criminals hack in to bank networks to steal $18 million

22 December 2014  |  8053 views  |  0 comments | 16 tweets | 19 linkedin

A group of Russian cybercriminals which specialises in gaining access to the internal payments networks of banks has stolen more than $18 million over the past six months.

Retail banking

Christmas Day to-do list: Unwrap presents, log on to mobile banking

22 December 2014  |  5196 views  |  0 comments | 7 tweets | 4 linkedin

Christmas may be coming, but it still doesn't stop people from dealing with their financial affairs, says AIB, which saw almost 200,000 customers logging in to their online account on 25 December 2013.

Retail banking

Mobile overtakes all other channels for banking interactions - Bain and Company

22 December 2014  |  16134 views  |  0 comments | 56 tweets | 49 linkedin

Banking customers now handle more of their banking interactions, on average, via smartphones and tablets than through any other channel, says Bain and Company, which surveyed roughly 83,000 consumers in 22 countries to reach its conclusions.

Cards

Apple Pay shows impressive early adoption

19 December 2014  |  11293 views  |  0 comments | 18 tweets | 15 linkedin

Apple Pay has the ability to significantly transform the mobile payment space says ITG Research, on the release of figures which show that iPhone users were responsible for one percent of digital payment dollars spent in the month of November.

Retail banking

As bitcoin languishes, PeerNova raises $8.6 million to refocus on blockchain

19 December 2014  |  7643 views  |  1 comments | 7 tweets | 5 linkedin

With the price of bitcoin continuing to crater, Silicon Valley-based crypto-mining outfit PeerNova has raised $8.6 million in funding to refocus its business on blockchain-based enterprise products.

Payments

Payments Council to explore prospects for providing more information with payments

19 December 2014  |  8794 views  |  1 comments | 5 tweets | 6 linkedin

The UK's Payments Council has committed to explore options for incorporating richer data sets alongside business and consumer electronic payment transactions.

Retail banking

Brits ready to switch banks to access mobile payments - Zapp

19 December 2014  |  9172 views  |  10 comments | 20 tweets | 16 linkedin

British consumers are increasingly prepared to switch banks to access mobile payments, as anticipation for new ways to pay builds, according to new research from mobile payments company Zapp.

Security

US community banks claim $90 million costs for Home Depot breach

19 December 2014  |  16163 views  |  1 comments | 11 tweets | 9 linkedin

US community banks are calling for a crackdown on merchant security protocols after reissuing nearly 7.5 million credit and debit cards at a total cost of more than $90 million as a result of the Home Depot data breach.

Mobile & online

Royal Bank of Canada adds HCE to mobile app

18 December 2014  |  8611 views  |  0 comments | 10 tweets | 11 linkedin

Royal Bank of Canada has implemented Host Card Emulation for its mobile banking app, enabling customers to pay with most Android mobile phones without worrying about being on the right mobile network or having the right SIM card.

Retail banking

International vendors on alert as US banks rethink core platform strategies

18 December 2014  |  5354 views  |  0 comments | 16 tweets | 10 linkedin

Consolidation among domestic vendors of core banking products in North America has created a rare opportunity for international players such as Temenos, Infosys, and TCS to establish a toehold in a market forecast to be worth $3.3 billion by 2017, according to a report by Celent.

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