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W3C joins battle for payments standard

In October 2014, W3C, the World Wide Web standards organization, announced plans to develop a world-wide payments standard for internet payments. The initiative is an interesting project to monitor since W3C has a clear track-record of driving marketplace development. Who/What is the W3C? W3C is the organization responsible for developing and managing the standards that power the internet, such as… Continue reading >>

Bitcoin price continues freefall as panicked investors sell off

The price of Bitcoin dropped again this week, sliding to its lowest level since early 2013, suggesting that confidence in the contentious cryptocurrency may be shrinking, dropping as low as $173 early Wednesday, according to stats from CoinDesk. It is down from about $244 just a day before, a drop of nearly 30%. Some people are beginning to worry that… Continue reading >>

FICO Acquires TONBELLER

FICO has acquired TONBELLER, a provider of financial crime and compliance solutions based in Bensheim, Germany. The transaction has closed. Although terms have not been disclosed, the transaction is not expected to have a material impact on FICO’s 2015 financial results. With this acquisition, FICO has moved firmly into the rapidly growing market for financial crime and compliance (FCC) solutions,… Continue reading >>

RBNZ seeks vendors to replace its payments and settlement systems

The Reserve Bank of New Zealand (RBNZ) is seeking Registrations of Interest (ROI) from potential vendors for the procurement of a Real-Time Gross Settlement System and a Security Settlement System with a Depository. These will replace the Bank’s current payment and settlement systems, namely the Exchange Settlement Account System (“ESAS”) and the NZClear Securities Settlement System. The Bank invites potential… Continue reading >>

Banks need strategy to reach tech-savvy, educated millennials

Millennials are the most educated, tech-savvy generation in the U.S. and represent a natural opportunity for the financial industry, but meeting their expectations will be a challenge for banks, according to the latest BBVA Compass report. Millennials are starting adulthood in a more complex economic environment, writes BBVA Compass economist Marcial Nava. The 75 million U.S. consumers aged 18 to 34 are… Continue reading >>

Entrust Datacard unveils EMV personalisation solution

Entrust Datacard has announced the availability of the Datacard EMV Personalisation Validation software that is designed to validate the chip of every EMV card issued on a Datacard MX Series card issuance system. Using Barnes International’s smart card verification technology, this inline automated process aims to increase production efficiencies. The new solution complements the entire Datacard quality assurance portfolio, including… Continue reading >>

Tencent unveils China’s first online-only bank

Chinese internet company Tencent has launched China’s first online-only private bank. WeBank, named after Tencent’s popular WeChat messaging service, is now operational after the Chinese financial service regulator granted Tencent a licence in 2014. China is aiming to boost banking competition in the country in order to aid small businesses seeking financing. According to Chinese premier Li Keqiang: “We will… Continue reading >>

New Apple-IBM enterprise apps

Apple and IBM delivered their first set of business-centric applications for iPhone and iPad users, following their landmark deal to work together in the enterprise computing space earlier this year. The IBM MobileFirst for iOS solutions can be customized to an organization’s needs, and will be linked to a company’s core processes. The applications are targeted at verticals including retail,… Continue reading >>

Alaric to modernize payment fraud detection

NCR Corporation has announced that Alaric, an NCR business, has released the latest version of its Fractals intelligent payment fraud detection solution. The latest version of Fractals, which is already being delivered to customers, incorporates many new features and enhancements to deliver the best possible fraud detection and prevention. For instance, the Fraud Integration Hub, part of the Fractals solution, now… Continue reading >>

Could bitcoin be the Napster of finance?

Bitcoin’s ongoing evolution draws comparisons to how Napster, while unsuccessful as an organization, upended an entire music industry and propelled it into the digital age. Bitcoin truly is the Napster of finance says Aite Group in its latest report, Bitcoin: The Napster of Finance. Although many compare bitcoin to the early days of the Internet, it is much more akin… Continue reading >>