Rise of mobile ‘driving change in payments’
The rapid development of mobile technology has seen a shift towards banking customers using smartphones more for transactions, rather than just to access information such as balances or statements. This is according to a survey of 3,000 US banking customers conducted by Harris Poll on behalf of Fiserv.
MetLife joins R3 blockchain consortium
Insurance firm MetLife has joined the R3 distributed ledger consortium, which now comprises of 60 of the world’s largest financial institutions. The partnership focuses on designing and applying distributed and shared ledger-inspired technologies for global financial markets. MetLife will partner with R3 members to explore blockchain’s capabilities in an insurance environment
Poor IT access ‘hurting FS digital drive’
A lack of access to IT resources is hindering digital transformation in the financial industry, according to a new sector survey. The research, released by Liferay and conducted by WBR Digital, found that financial institutions are well on their way to implementing advanced customer experience management and completing their digital transformations, with only one per cent of respondents stating that they have yet to begin this process.
LogRhythm closes $50 million financing round
Security intelligence firm LogRhythm has closed a $50 million round of new investment, which will accelerate its global expansion and extent its investment in innovation. The funding round was led by existing investor Riverwood Capital, with additional participation from Adams Street Partners, Siemens Venture Capital, Delta-v Capital and members of the LogRhythm management team.
Jumio secures $15 million in funding round
Digital verification firm Jumio has secured $15 million in financing from Cenana Growth Partners LP and Millennium Technology Value Partners. The new cash injection will allow Jumio to expand its sales and marketing efforts and accelerate product development and international expansion. The investment follows Jumio’s record financial results for Q2 2016.
Diebold-Wincor merger faces in-depth probe
The Competitions and Markets Authority (CMA) has referred the Diebold-Wincor merger for a detailed investigation after Diebold failed to address the CMA’s competition concerns regarding the supply of customer-operated ATMs in the UK. The CMA said on 19 August that both companies competed closely in the supply of UK ATMs with only one other credible competitor (NCR)
Tablet banking ‘failing to take off’
The financial services sector must improve the tablet banking and finance management experience to tackle a low uptake of digital banking on the devices, new research from Intelligent Environments has claimed. The study found that while digital banking remains the most popular method among UK customers for checking their bank balance (at 86 per cent)
ANZ extends Apple and Android Pay services
ANZ’s Mastercard customers will now be able to use their smartphone to make tap and go payments through Apple Pay and Android Pay. Launching today, over 500,000 ANZ customers with Mastercard credit cards will be able to use the service to make mobile payments at any location where contactless payments are accepted.
Finance tech ‘more important to Millennials’
Millennials in the US place a higher value on the use of technology when managing their finances than Baby Boomers, according to new research from Willis Towers Watson. The Global Benefits Attitudes Survey of 5,100 US employees also found that two thirds of Millennials and Baby Boomers agree that mobile apps and tools are either important or very important when managing the value of retirement savings
An expert panel, including Lloyds, Metro and Dell, discuss how banks can grow their business in the digital age
Michelle Stevens talks to Carl Churchill, the MD of NetPay, about technology trends in the payments industry and the company’s expansion plans