Innovation

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/Innovation

Discover trials Natural Security biometric payments

Discover Financial Services is working with French outfit Natural Security to pilot a system which combines biometrics and contactless cards to enable customers to pay with their fingertips.

/Innovation

AmEx offers Halo 4 players real world rewards

American Express has set its sights on the gaming community, teaming up with Microsoft to enable cardholders to earn real-world rewards for completing tasks in the upcoming Halo 4 game.

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PlayMoolah and Gust triumph in Innotribe challenge

PlayMoolah, an online platform for teaching children financial management through the use of gamification techniques, has emerged as the winner of the Innotribe Startup Challenge at Sibos in Japan.

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Banks should bank on APIs and apps, not applications - Gartner

Banks need to ditch rigid and reactive applications in favour of flexible and proactive APIs and apps, says research house Gartner.

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European Central Bank warns of virtual currency risks

The growth of virtual currency schemes such as Bitcoin and Second Life's Linden Dollars, could have a negative reputational impact on central banks due to their inherent instability, warns the European Central Bank.

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Deutsche Bank Autobahn App Market picks up speed

Deutsche Bank has launched a new liquidity management application on its Autobahn App Market and signed Banque Internationale à Luxembourg (BIL) as a client.

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French shoppers trial biometric payments

A group of French banks, IT firms and retailers are trialling a point-of-sale system that combines biometrics and contactless cards to enable customers to pay with their fingertips.

/Innovation

Al Hilal Bank credit card with compass points to Mecca

Abu Dhabi-based Islamic lender Al Hilal Bank has teamed up with MasterCard to launch a credit card with a built in digital compass to help customers find Qibla, the direction Muslims must face while performing Salah.

/Innovation

Sainsbury's pilots 'mobile scan & go'

UK supermarket giant Sainsbury's has begun trialling a service that lets customers scan items as they shop using their phone and pay at the till without unloading their trolley.

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Sberbank sets up $100 million fintech start-up fund

Sberbank of Russia is to set up a $100 million venture fund, rising to a possible $700 million over three years, to invest in promising fintech start-up companies.

/Innovation

Airtag launches API toolkit for PayPass mobile wallet apps

Mobile shopping outfit Airtag has launched an API toolkit for banks and mobile network operators to ease the development of MasterCard PayPass Wallet applications.

/Innovation

Braintree closes $35m funding round

Braintree, the Chicago start-up behind a platform that enables online and mobile businesses to accept card payments, has raised $35 million in a series b funding round.

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Digital jewellery and handshakes posited as the future of payments

Forget mobile payments, the next wave of innovation to strike the payments industry could see a simple handshake emerge as a novel form factor in the transfer of cash, according to a new crystal ball-gazing report from the UK Payments Council.

/Innovation

Grow Financial branch lures passers-by with virtual money machine

Tampa-based credit union Grow Financial has installed a giant, augmented reality video wall outside its latest branch where passers-by can play a game and win money.

/Innovation

Nutmeg introduces private banking for regular people

Nutmeg, an online investment manager promising to offer private banking-type services for everyone, has launched in the UK.

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Payleven launches chip and PIN-based Square clone

Payleven has become the latest Square-clone to launch in Europe, distinguishing itself from a plethora of rivals by claiming to be the first offering chip and PIN authentication.

/Innovation

Americans invited to submit finance app ideas for $100k competition

Americans are being invited to submit personal finance-related mobile app ideas for a competition which could see them given expert advice and resources to build their product and claim a share of a $100,000 prize fund.

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Capital One opens up APIs

Capital One has become the latest financial institution to open up its APIs to developers, inviting outsiders to help deliver deals and rewards to customers.

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Noor Islamic Bank opens 'bank of the future' competition

Dubai's Noor Islamic Bank has launched an online 'bank of the future' contest offering a $20,000 prize for the most innovative idea for improving customer service standards at the five-year old bank.

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Student loan tool wins mobile financial app competition

A mobile app that helps users manage their student loans has won the US Treasury-backed MyMoneyAppUp Challenge, netting its creator $10,000.