FStech Awards 2017: open for entries
The FStech Awards return for their 17th year in 2017, and financial institutions and technology providers have until 27 November to submit their entries. The event celebrates technology excellence and innovation within the UK and EMEA financial services sector, and there are 27 trophies up for grabs for this year, including in one new category, Consumer Finance Product of the Year.
ABN AMRO & TU Delft to explore blockchain
Dutch bank ABN AMRO is set to collaborate with technology university, TU Delft, on the development of more complex blockchain applications. The aim of the partnership is to deliver a secure, working application in less than six months. The new application will be based on previous work done at TU Delft on blockchain technology, which began in 2007.
nanoPay raises $10m in Series A funding
Toronto-based real-time payments platform provider, nanoPay, has announced the completion of a $10 million Series A funding round. Participants in the financing round include the merchant banking division of Goldman Sachs, APAGM Services, Jarnac Capital Management and Rohatton.
Samsung expands mobile payment service
Samsung has announced that its mobile payment service, Samsung Pay, will be available in Malaysia, Russia and Thailand by the end of 2016. The telecoms giant also announced a global partnership with Mastercard to offer a simplified online payment and checkout solution through its digital payment service Masterpass, starting early next year.
Raphaels Bank adopts FIS payments
Raphaels Bank has partnered with financial services technology firm FIS to use its reconciliation solution to help extend access to faster payments. Earlier this year, Raphaels Bank became the first new member of the Faster Payments Scheme (FPS) since its inception in 2008. Access to FPS had previously only been open to authorised credit institutions, or those with banking licenses
Biometric adoption low despite rising demand
Iris scanning technology has overtaken fingerprinting as the most popular biometric method, with 60 per cent of UK consumers saying that they would consider using it, according to a new study. The Intelligent Environment’s 2016 Future Password Index (FPI), which surveyed 2,000 UK consumers, found that demand for biometric authentication has risen significantly since 2014, with technologies such as facial recognition, heartbeat monitors and voice verification gaining popularity in the UK.
Mastercard set to launch AI messenger bots
Mastercard has announced plans to launch an artificial intelligence (AI) bot platform that allows consumers to transact, manage finances and shop via messaging platforms. The move comes just a day after PayPal declared that US Facebook Messenger users will be able to link their PayPal accounts to make payments and merchants will be able to accept payments directly via their bots.
Ingenico enables contactless payments
Ingenico has developed technology which allows online payments to be made simply by tapping a card against a mobile device. The TapHero technology combines elements from both card-present and card-not-present payments. Smartphones which are equipped with an NFC reader are able to read the payment data from the card’s chip and auto-populate all the fields required to make a mobile payment.
Demand for ATMs surges in Asia-Pacific
As the banked population expands in Asia Pacific, the demand for cash from ATMs is growing drastically, as new figures show the value of cash withdrawn from ATMs in the region has increased by 50 per cent since 2011. This is according to RBR’s ATM Hardware, Software and Services 2016 report, which found that the value of cash withdrawals in the Philippines, Vietnam, Indonesia and India grew by more than 15 per cent in 2015 alone. RBR attributes the rise to a number of new financial inclusion programmes that are bringing large numbers of previously “unbanked” people into the banking system – adding to demand.
FStech talks to Tony Reid of HDS about the compliance issues facing financial institutions and FinTech firms
MarkLogic’s Chris Atkinson discusses how data affects your ability to comply with regulation with FStech.