At the recent SAS Financial Services Executive Summit, bankers gained insights into how to address the challenge of aligning technology and business in the age of big data analytics.
After PayPal launched a program last week offering free transaction processing for merchants who switch to its point of sale card reader, Square hit back yesterday by announcing it will be offering a P2P payments service via email.
Unresolved Issues Swirl Around Securing Mobile PaymentsNovember 16, 2012While many mobile payments startups are using both traditional and nontraditional authentication methods, regulatory uncertainty still exists around liability for fraud attacks on customers using mobile payments.
Banks Seen Shrinking for Good as Layoffs Near 160,000November 15, 2012Major banks have announced some
160,000 job cuts since early last year and with more layoffs to
come as the industry restructures, many will leave the shrinking
sector for good as redundancies outpace new hires by roughly
two-to-one.
Breaking Up Big Banks Still Not the Answer, Says FedNovember 15, 2012There remains much work to fix
the "too big to fail" bank problem, but breaking up big
financial institutions is still not the answer, an influential
U.S. Federal Reserve official said on Thursday.
Canada Libor Investigators Escalate Dispute with RBSNovember 14, 2012The Canadian agency investigating
whether banks manipulated a key global interest rates accused
Royal Bank of Scotland Group on Wednesday of failing to
cooperate with its probe and of making misleading statements
about it.
Job Cuts, Regulation Push Bankers Toward Hedge FundsNovember 14, 2012The hedge fund industry is
expected to see a wave of new launches in the next year by
traders who have lost their jobs at investment banks or who have
left in search of better pay.
U.S. Mortgage Applications Rise on Sandy Rebound, Record Low RatesNovember 14, 2012Applications for U.S. home
mortgages jumped last week, rebounding after a massive storm
depressed applications on the East Coast and as a fall in
interest rates to a new low spurred demand, data from an
industry group showed on Wednesday.
Europe Seeks to Break Logjam Over Regime to Control BanksNovember 13, 2012EU finance ministers sought on
Tuesday to break an impasse over a new regime to supervise
banks, but with much of the plan contested, the European Union
risks seeing this centrepiece reform unravel.
CFPB Official to Leave at End of JanuaryNovember 12, 2012Raj Date, a top official at the U.S.
Consumer Financial Protection Bureau, plans to leave at the end
of January, a spokeswoman for the agency said on Monday.
U.K. Finance Bonuses to Plummet as London Loses GroundNovember 12, 2012Bonuses for 2012 in London's
financial sector will more than halve to 1.6 billion pounds
($2.5 billion) in total, a study found, and some shareholders
are urging banks to cut pay even more.
RIM to Introduce New BlackBerry 10 Devices on Jan. 30November 12, 2012Research In Motion Ltd
plans to introduce its new line of BlackBerry 10 smartphones on
Jan. 30, the company said on Monday, giving investors a measure
of confidence that the long-awaited devices are nearing
completion.
U.S. Bank Regulators Say Capital Rules Won't Take Effect Jan. 1November 09, 2012U.S. banking regulators do not
expect proposed rules requiring financial institutions to hold
more capital to take effect at the start of next year, three
agencies said on Friday.
New Mobile Payments Platform for EMV CardsNovember 09, 2012VeriFone's SAIL EMV payments platform offers a solution that plugs into tablets and smartphones for accepting chip-and-pin payments.
Square Wallet Now Accepted at StarbucksNovember 08, 2012After the partnership between Square and Starbucks last summer, Starbucks customers can now pay for their coffee in-store with the Square Wallet.
PNC Names New Head of Operations and TechnologyNovember 07, 2012PNC names new head of operations and technology; seasoned financial services IT executive Steven Van Wyk leaves ING to replace Vice Chairman Thomas Whitford, who is retiring.
MasterCard and ING Launch EMV Internet Payments TrialNovember 07, 2012The solution being tested in the trial supports two scenarios: Consumers shopping and paying on a phone; and shopping on a PC or tablet, and then completing the payment step on their phone.
Election Gamble Backfires for Banks, Energy FirmsNovember 07, 2012Some urgent bridge-building will be required in the coming
days if they are to influence financial regulation and energy
policy over the next four years
