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688

R3, eight banks successfully test Intel blockchain platform for bond trading

By Reuters

U.S.-based financial innovation start-up R3 announced on Monday that it and eight banks, including HSBC and State Street, have successfully tested a blockchain platform powered by Intel Corp technology for bond transactions. (more…)

Banks, Blockchain, Cryptocurrencies, Fintech news

September 27, 2016

803

Payments networks battle new breed of criminals in cyber attacks

By Hannah Kuchler for Financial Times

When $81m was stolen by cyber criminals from the Bangladeshi central bank earlier this year, it was not just the money that was lost, but trust in the Swift global payments network relied on by 11,000 members. (more…)

Banks, Global trends, Mobile payments/banking

September 26, 2016

819

PayCommerce Launches First Instant Cross-Border Payments, Clearing and Settlement Program for Its Global Banking Network

By LTP

Global banks can now access the technology and network for instant cross-border payments, clearing and integrated settlements, while opening up new revenue opportunities (more…)

Banks, Cashless, India, Remittances

September 26, 2016

763

BNP Paribas is working with clients on blockchain deployment

By Finextra

BNP Paribas says it has entered ‘co-development mode’ with clients to pilot a number of blockchain applications for transaction banking, after embarking on a collaborative process during its ‘Blockchain Bizhackathon’ earlier this year. (more…)

Banks, Blockchain

September 26, 2016

1128

Does the bank branch still matter?

By Toni Virdi for Banking Technology

The number of branches operated by major banking groups in the UK has halved over the last 20 years. In fact, Britain’s banks closed more than 600 branches across the UK between April 2015 and April 2016. This is hardly surprising as more and more people move online, often mobile-first, to complete most of their banking transactions and check their accounts. (more…)

Banks, Cashless

September 24, 2016

1369

Return on equity for the top global investment banks is falling. Here’s how they’re dealing with it

By David Williams and Imran Gulamhuseinwala for City A. M.

Delegates from firms making their way to Geneva next week for the 2016 financial services Sibos conference will undoubtedly have a lot on their minds. Over the past few years the industry has been facing challenges on many fronts: continued and increasing structural costs, fast-changing regulatory reform, conduct issues and capital requirements, to name but a few.

(more…)

Banks, Global trends, news

September 24, 2016

752

MacArthur ‘genius’ winner: This immigrant helps others build good credit

By Natalie Kitroeff for Los Angeles Times

Jose Quinonez crossed the border from Mexico to California when he was 9 years old, accompanied by his five siblings, driven out of his home after the death of their father and mother. Three decades later, Quinonez is set to receive one of the most prestigious honors offered to American professionals: a MacArthur Fellowship, known as a “genius” grant.

(more…)

Banks, PFM/PFP services

September 24, 2016

Global Digital Payment Transactions Set to Reach 10 Percent Growth for First Time, New Report

By LTP

Global digital payment volumes continue to increase, with annual growth projected to top 10 percent for the first time to reach 426.3 billion transactions in 2015, up from the record-setting 8.9 percent growth in 2014 (387.3 billion transactions). This is according to the World Payments Report 2016 (WPR) released today by Capgemini, a global leader in consulting, technology, and outsourcing, and BNP Paribas, a global banking player and recognized leader in transaction banking and cash management. (more…)

Banks, Cashless, Global trends

September 24, 2016

763

RBS tests demonstrate ability of Ethereum to support a national domestic payments system

By Finextra

The Innovation Engineering team at Royal Bank of Scotland has built a Clearing and Settlement Mechanism (CSM) based on the Ethereum distributed ledger and smart contract platform. (more…)

Banks, Blockchain

September 23, 2016

1174

McKinsey says digital finance adoption could add trillions to high growth economies

By Jack Bright for Techcrunch.com

Adoption of digital finance could add $3.7 trillion dollars to the GDP of emerging markets economies, including $1.1 trillion in China alone, according to a new McKinsey & Company report. (more…)

Banks, Cashless, Hotnews

September 22, 2016

Scrip is a luxurious sci-fi wallet for a cashless future

By Adi Robertson for The Verge

If you could really feel your digital money — the way you can feel the metal of a quarter or the paper of a $20 bill — would you spend it more wisely? This is the question behind Scrip, a product concept from studio NewDealDesign. As companies like Apple make financial transactions as close to invisible as possible, NDD is imagining a future where every purchase is a literally weighty decision. And to realize this dream, it’s built something sleek, science fictional, and more than a little strange. (more…)

Banks, Cashless

September 22, 2016

HSBC Seeking Fintech Hub in London’s Hipster Neighborhoods

By Stephen Morris for Bloomberg

HSBC Holdings Plc is seeking office space in technology-focused London neighborhoods including Shoreditch to bolster its fintech capabilities, according to two people with knowledge of the move. (more…)

Banks

September 22, 2016

899

IBM and Bank of Tokyo-Mitsubishi UFJ Develop Blockchain-Powered Contract Management System

 for BitcoinMagazine

IBM announced that it has signed a contract with the Bank of Tokyo-Mitsubishi UFJ (BTMU) to apply blockchain technology to the design, management and execution of contracts among business partners. The first pilot projects will automate business transactions between the two companies. (more…)

Banks, Global trends, Hotnews

September 22, 2016

2041

Atom Bank is raising £100 million and getting into mortgages

By Oscar Williams-Grut for Business Insider

App-only challenger bank is raising £100 million ($129.6 million) from its shareholders to break into mortgages, according to Sky News.

(more…)

Banks, Deals, Fintech news, Mobile-first banks

September 22, 2016

1035

BNP Paribas To Let Companies Issue Mini-Bonds On Its Blockchain Platform

(more…)

Banks, Blockchain

September 21, 2016

786

A banker’s view of fintech

If fintech entrepreneurs want to come up with a holistic business proposition that actually solves a real-world problem, they must tap into the knowledge in banking
(more…)

Banks

September 21, 2016

Central banks review wholesale payments security

In the wake of the $81 million Bangladesh Bank hack, the Committee on Payments and Market Infrastructures (CPMI) has set up a task force to look into the security of wholesale payments that involve financial institutions. (more…)

Banks

September 21, 2016

Deutsche Bank teams up with accelerator to back fintech startups

Deutsche Bank is joining forces with startup accelerator Axel Springer Plug and Play to back banking and insurance startups with cash and other support. (more…)

Banks

September 21, 2016

908

How the Digit bot helped people save $230 million

By  for Venture Beat

The bot Digit has saved $230 million for its users in the past 18 months, founder and CEO Ethan Bloch told an audience of more than 200 at a “Leaders of Chatbots” discussion at LinkedIn Tuesday. The event was put together byLeade.rs, which hosts monthly conversations with influential tech insiders. (more…)

Banks, Bots

September 16, 2016

1056

What the Wells Fargo Cross-Selling Mess Means for Banks

By RACHEL LOUISE ENSIGN for WSJ

Concept of selling customers multiple products is Holy Grail of banking, but it’s tough to pull off in practice

(more…)

Banks

September 16, 2016

904

Lloyds Bank implements Touch ID

Over two million Lloyd Bank, Halifax and Bank of Scotland customers* can now access mobile banking twice as quickly as before…with just their fingerprint. (more…)

Banks

September 16, 2016

1002

Can banking be Uber-ed?

By Lonnie Shekhman for CS Monitor

When he moved to Pittsburgh in 2004 for graduate school, Joshua Reich was so perplexed about having to write a check to pay for a utility bill, he sought the help of a neighbor. (more…)

Banks, Global trends

September 16, 2016

716

Citi Ventures Makes Strategic Investment in FastPay, the Leading FinTech Solution Provider to Digital Businesses

FastPay, a leading financial technology company that provides lending and financial workflow solutions to digital businesses, today announced the close of a strategic investment from Citi Ventures. (more…)

Banks, Mobile payments/banking

September 16, 2016

How Companies are Already Innovating with Blockchain

By Susan Galer (SAP) for Forbes

I recently sat down with Kris Hansen, Senior Principal at SAP Financial Services to talk about why innovators at leading-edge financial services organizations are intrigued by blockchain’s promise, and how they’re getting ready for what will be the next enormous industry transformation. Hansen is particularly surprised at how blockchain “seemed to come out of nowhere.” Below is an excerpt from our conversation, which you can read in full here. (more…)

Banks, Blockchain, Global trends

September 16, 2016

Barclays signs contracts with six accelerator graduates

Barclays Bank has signed contracts with six fintech startups participating in its accelerator programme in New York. (more…)

Banks, Deals, Global trends

September 16, 2016

BTMU and IBM use blockchain for contract management

The Bank of Tokyo-Mitsubishi UFJ (BTMU) and IBM are teaming up to use blockchain technologies for the design, management and execution of contracts among business partners. (more…)

Banks, Blockchain, Cryptocurrencies

September 16, 2016

707

Blockchain: A Radical New Way To Transact Business

By KPMG

If you’re baffled by how bitcoin actually works, you’re not alone. Yet the technology behind the virtual currency could soon allow companies to execute financial transactions in a totally new — and secure — way. (more…)

Banks, Blockchain, Cryptocurrencies

September 14, 2016

1066

Siri Sending Money Via N26

Siri can do lots of things. Now, she can help you send money. (more…)

Banks, Global trends, Hotnews, Remittances

September 14, 2016

Alibaba believes the future of mobile payments lies in the veins of our eyeballs

By Josh Horwitz for QZ

Apple wants consumers to pay for things using their fingers. Google and Amazon want consumers to pay with their faces. Alibaba is looking elsewhere. (more…)

Banks, Hotnews, Mobile payments/banking

September 14, 2016

Chase signs multi-year mobile payments deal with Best Buy

Chase has signed a multiyear agreement for Best Buy (BBY) to accept Chase Pay in its stores, on BestBuy.com and in the Best Buy app, the company announced today. (more…)

Banks, Mobile payments/banking

September 14, 2016