Criminals have deepened their focus on US online transactions since the country’s October 2015 EMV liability shift, with card-not-present (CNP) fraud expected to hit $6.4 billion in 2018, according to a new report from the US Payments Forum.
Art Gillis, a seasoned banking technology consultant (working in the computer industry since 1958 – and listed as a top 25 tech consultant by the American Banker) and author, presents his latest “Automation in Banking” report (#31!), which looks at the US core banking and ancillary software market.
The House of Lords Financial Exclusion Committee is calling for the UK Government, the Financial Conduct Authority (FCA) and banks to give greater priority to tackling financial exclusion. In its new report, “Tackling financial exclusion: A country that works for everyone?”, the Lords want an end to the “scandal of the poorest being excluded from […]
SIX Securities Services, Switzerland’s post-trade market infrastructure, will use IBM Watson for its new cognitive security operations centre (SOC). The new facility will be housed at SIX’s offices in Switzerland to provide localised cybersecurity services “tailored to the needs of the region”. Robert Bornträger, division CEO SIX global IT, says IBM is a “logical partner” […]
Wolters Kluwer’s OneSumX risk and management information systems (MIS) reporting solutions will be implemented at Nordea Bank Russia (NBR). The MIS solution is part of the firm’s business analytics offering. OneSumX is designed to manage finance, risk and compliance and “improve organisational efficiency and profitability”. NBR will specifically use OneSumX risk management for asset and […]
Accenture will acquire First Annapolis, a privately held payments consulting and advisory firm. Alan McIntyre, senior managing director, and head of Accenture’s Banking practice, says the acquisition “will enhance our capabilities in the payments sector”. Terms of the transaction were not disclosed. The acquisition, which is subject to customary closing conditions, is expected to close […]
While the Indian government works toward a digital economy, the Reserve Bank of India (RBI) is soliciting feedback through 31 March on guidelines for prepaid payment instruments (PPI) that could adversely affect issuers of prepaid products, including mobile wallets. Banking Technology‘s sister publication Paybefore reports that the biggest sticking points with industry players pertain to […]
UnionBank of the Philippines (UnionBank) has launched the New EON, a new digital banking platform (a revamped version of the original EON, launched at the start of the millennium). The mobile biometric authentication tech is provided by Daon.
The US Securities and Exchange Commission (SEC) has dashed the hopes of internet entrepreneurs and venture capitalists Cameron and Tyler Winklevoss, who were hoping to create an exchange-traded fund (ETF) for the virtual currency Bitcoin.
Royal Bank of Scotland (RBS) is closing 30 of its own branches and 128 of its subsidiary, NatWest, putting 470 people out of work. The bank says this decision is a result of the changing consumer behaviour, which has now shifted to digital banking.