The huge global increase in connectivity, prompted by the launch of mobile devices, has affected banks just as much as retailers. As a result, financial institutions have had no choice but to put digital at the front and centre of their strategies – using technology to enhance the customer journey at every touch point, personalising…
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According to a report from the WSJ, Visa and Mastercard are considering raising interchange fees on card transactions in the U.S. Visa and Mastercard generate most of their revenue from these small processing fees, and it could have implications for merchants and fintech startups. When you pay with a credit or debit card, merchants pay…
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SoftBank and TBCASoft have launched a blockchain-based identification and authentication working group under the Carrier Blockchain Study Group (CBSG). TBCASoft has created a new foundation application framework called CrossCarrier Identification System (CCIS), which supports the establishment of identification and authentication services. This working group will collaborate with the global consortium of telecom blockchain companies of…
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As the workplace becomes increasingly digital, enterprise IT departments are adding a new member to the team: AI technology. Digital transformation has greatly enhanced enterprise productivity. Cloud solutions have replaced outdated, on-premises systems and bulky, physical assets are disappearing from desks. But the increasing number of digital users also produces mass amounts of service requests.…
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The network comprises 29 organizations, such as the UK Financial Conduct Authority and the Australian Securities & Investments Commission. The Global Financial Innovation Network (GFIN), which comprises 29 international organisations such as the UK Financial Conduct Authority (FCA) and the Australian Securities & Investments Commission (ASIC), starts accepting applications from firms that would like to test…
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It’s nothing short of magic, really, the way global trading partners do business today. The problems are obvious and acute: massive complexity exacerbated by an enormous amount of manual, still mostly paper-oriented processes. Which is why blockchain—the networked distributed ledger technology—is gaining relevance in today’s global supply chains. Sanctioned blockchains provide their participants with a…
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European Union banks will face higher hurdles in dealing with clients from countries including Saudi Arabia as the bloc moves to tighten controls on illicit financial flows. Panama and the U.S. Virgin Islands will also be put alongside Iran and North Korea on a new EU roll call of 23 countries identified as posing higher…
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Although mainframe bank legacy systems have persisted far longer than most people thought likely a few years ago, that may be changing at last as some vendors develop phased replacement. “Banks aren’t going to jump to pull out that complete heart all at once, “ said Jay Mossman, CEO of Temenos North America. “We offer…
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