Ovum survey reveals bank shortcomings

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Banks are not responding quickly enough to the rapidly changing requirements of corporate treasurers, according to new research from Ovum. Corporate requirements are expected to change further as real-time payment infrastructures are further rolled out in the main economies in Europe and the US.

We’re at the very beginning of the next technological revolution – Nokia’s CTO

Digital Futures panel Stephen Carter

Analyst firm Ovum hosted its Digital Futures event at which Nokia’s CTO explained why we need to fundamentally redesign the network.

Banks look to immediate payments to drive revenue

flat vector for business mobile payment concept and  digital marketing with business e commerce concept

Immediate payments is a key revenue driver for 66% of banks in markets with IP schemes, according to new benchmark data from processor ACI Worldwide and UK consultancy and Banking Technology’s sister company Ovum. Paybefore, Banking Technology’s sister publication, writes that the benchmark report, “2017 Global Payments Insight Survey: Retail Banking,” also found that although […]

Instant payments set to displace cards in Europe – Ovum

Real-time payments are coming to you

More than $809 billion is set to switch to the fledgling instant payments system in Europe by 2027, representing a significant threat to cards, according to a new report from Ovum, a London-based consultancy.

When worlds collide: fintechs vs financial institutions

Sibos 2016: fintechs vs financial institutions

The opportunity for traditional banking processes to be transformed that is presented by innovative financial technology (fintech) developers is at risk of being squandered in many cases because of cultural differences between large inflexible enterprise culture and the enthusiastic approach of the start-up developer world.

Samsung banks on backward compatibility in payments play

Samsung Galaxy S6

Samsung has announced a new mobile payment service called Samsung Pay, that it claims will break the obstacles to mobile wallet adoption by being compatible with older point-of-sale terminals through the use of Magnetic Secure Transmission, which allows terminals using traditional magnetic stripe technology to accept payments.

Lloyds closures highlight shift to digital banking


Lloyds Banking Group’s decision to close 200 branches and axe 9,000 staff was to be expected – but the firm’s digital plans highlight the changing nature of retail banking and the bank branch in general.

UK bank customers weigh up pros and cons of account switching

Santander, Halifax and Nationwide are winning the most new customers, according to TNS

Current account holders in the UK are switching between banks more often than before – but with some customers struggling to see the difference between banks, more needs to be done to make switching worthwhile.

Half of UK traders still flout mobile voice recording rules


More than two years after the UK’s FSA introduced rules on mobile call recording for financial institutions, more than half of those affected still have not rolled out a solution – leaving many at risk of enforcement action, according to a new report by analyst firm Ovum and computer telephony specialist Teleware.

Barclays customer data debacle raises difficult questions


Revelations that Barclays customer data was being sold on the black market to corrupt City traders have caused the bank some embarrassment over the weekend– but the incident raises more questions than it answers, according to observers.