tech and geek stuff
Incoming EU banking regulations are a ‘headache for everyone’, RBS fintech advisor says
New banking regulations involving customer data sharing and data protection are a "headache for everyone", according to a fintech advisor at the Royal Bank of Scotland. Alan Lockhart, head of open banking...
Banking to become open and a utility says FinTech chief
"Banking is the last vertically integrated sector left, but it is the next utility to face change," said Michael Laven, CEO of the financial technology (FinTech) firm Currency Cloud, said on Tuesday....
ANZ will introduce Australia’s first voice-based security for banking
One of Australia’s biggest banks, ANZ, has announced that it will be introducing voice recognition as a security measure within its smartphone banking apps sometime in the mid-year.The new security measure...
AI to become main way banks interact with customers within three years: Accenture
Artificial intelligence (AI) will become the primary way banks interact with their customers within the next three years, according to three quarters of bankers surveyed by consultancy Accenture in a...
Panel grapples with pot banking laws
California is still grasping toward what State Treasurer John Chiang on Monday called “the best imperfect solution” for a fully functioning cannabis marketplace before recreational marijuana becomes available...
How Wells Fargo CEO sees tech changing banking
Wells Fargo CEO Tim Sloan, who replaced John Stumpf in October after a sales scandal at the San Francisco bank, is ready to embrace technology. And he wants his customers to know it. At the FinTech Ideas...
Android malware targets bank accounts – and could nuke your phone
It’s another day, and there’s another fresh piece of Android malware to watch out for, although this one is particularly concerning given that it targets banking details, and lots of them – plus it could...
Goldman Sachs online lender, Marcus, opens
Borrowers will be able to visit Marcus.com and apply for unsecured loans of up to $30,000 to refinance their credit card debt or pay for a household project. Marcus is a significant departure for Goldman,...
Banking Industry Needs to Become 'Frictionless'
As the line between tech and finance continues to dissolve, consumers want banking experiences that are as frictionless as an Amazon order, says one expert. Fintech (financial technology) companies continue...
Banks focus more on new accounts, and the fees they bring
When Wells Fargo CEO John Stumpf testifies before a Senate committee hearing Tuesday, it won’t be just his bank under fire for turning friendly branches into high-pressure sales centers. The San Francisco...
Fears are running high over identity theft
Feedzai is a startup providing fraud prevention services to payments firms. There may be another culprit for Americans' frustration with banks and data protection. The U.S. lags other developed nations,...
E-susu aims to close the gap between community loan groups and traditional banking services
An interesting hack presented on stage today at TechCrunch Disrupt New York 2016 is a platform for non-traditional banking services. Called e-susu, the app is designed for people who are involved...
Atom is the first of the new UK challenger banks out the gate — sort of
Atom Bank, which is backed by Spanish banking giant BBVA, has become the first of the four so-called UK ‘challenger’ banks out the gate — sort of. Having secured a much-coveted...
Auka brings Google Cloud-powered banking to Europe
Norwegian startup Auka is setting its sight on hitting two birds with one stone: Helping banks lagging behind compliance with EU regulation, and rolling out high-tech banking to customers across...
How technology is changing the way we use banks
March 23, 2016, 8:35 AM|Technology continues to make personal banking easier. By 2014 more than half of smartphone owners were using mobile banking. In an age when you can transfer funds with a fingerprint,...
Mondo, the U.K. banking startup, opens public Beta
Mondo, the yet-to-launch U.K. banking startup that is creating quite a lot of buzz amongst the London tech scene and beyond, is opening its Beta to the public today — albeit one that is limited...
Amazon Alexa can now pay your Capital One bill
Amazon’s virtual assistant Alexa, embedded in devices like the Echo speaker and Fire TV, is today taking on a new role: she’s now a banking assistant, too. Capital One announced this...
Malware attacks Aussie mobile banking apps
Android users could be vulnerable to a sophisticated new banking malware. NEW malware that targets mobile banking apps of Australia’s big banks has been detected. The sophisticated virus infects Android...
Cracks appear in bank regulations
Governments around the world have built over the last few years a vast system of rules that would allow banking giants to fail and shield taxpayers from bailouts. Though this regulatory architecture is...
How you are unwittingly helping cyber criminals
This is a new era of cybercrime. THERE are criminals lurking in cyberspace, analysing your every move and waiting to attack. It is all part of a sophisticated shift in the way hackers are gaining access...
Forget that banking password, HSBC blazes trail with voice and fingerprint login
HSBC has announced that it's rolling out biometrics – namely fingerprint and voice recognition – to customers in an effort to bolster security with its online banking services.The idea is you can forget...
HSBC online banking suffers major outage, blames DDoS attack
Still from HSBC TV adHSBC has been battling an apparent Distributed Denial of Service (DDoS) attack on its online banking system for the past few hours. Many customers have been struggling to access HSBC...
HSBC online banking is 'attacked'
HSBC says it "successfully defended" an attack on its online banking service but services are disrupted on a key day for many people's personal finances. The bank is apologising to customers trying to...
Banks must move past PIN, OTP to ensure mobile security
Asian banks need to stop using PINs and SMS-based OTPs, which no longer provide adequate security and user assurance, and start tapping biometrics to authenticate mobile users.In fact, the future of authentication...
One-fifth of consumers will trust tech firms for all financial products by 2025
Within 10 years, 20% of consumers will trust technology firms to supply of all types of financial products and services as fintech moves from peripheral to all-encompassing banking services. This represents...
Banking Trojans are growing smarter. But will banks keep up?
"Banks make it easier for Trojan makers to thrive," says Righard Zwienenberg, senior research fellow at security firm ESET. Image: iStock Infection rates of banking Trojans continue to run high, despite...
HSBC suffers major online banking failure
HSBC customers have been unable to use online banking services for two days as a result of an internal technical issue. The problem began on Monday 4th January when customers began experiencing problems...
HSBC apologizes for online banking outage, says customers will not 'lose out'
LONDON (Reuters) - HSBC said on Tuesday that customers affected by a blackout on its personal banking online services will not "lose out", as technical problems suffered by Europe's biggest bank run into...
HSBC customers hit by online problems
Millions of HSBC customers are experiencing further problems with online banking, following many hours of disruption yesterday. The personal banking website is still not allowing customers to log on. HSBC...
Top 10 financial services IT stories of 2015
Over the last 12 months the financial services industry has seen dramatic changes in its structure. Digital technology and market liberalisation has led to the creation of new financial services suppliers....
More than a quarter of Brits bank on mobile, but branches still popular
UK citizens are using a mix of channels to interact with their banks and make transactions, with more than one-third of those surveyed by Forrester still regularly visiting a bank branch. According to...
Singapore consumers warned of malware targeting mobile banking services
Mobile users in Singapore have fallen prey to a malware targeting banking services and hijacking sensitive data such as credit card details and one-time passwords (OTPs). The malware affects both Apple...
South Korea IT firms see shares surge after online banking nod
South Korea's top messaging app operator saw its share price soared 13 percent Monday—a day after being named by financial regulators as one of two companies permitted to start Internet-only banking s...
In Depth: How can a bank tell you when you've got a water leak?
Your phone is your bankThink about your bank for a moment, and all the cool, innovative things it does. Not coming up with much other than 'it's got an app and I don't have to use that keypad thing anymore?'It's...
How tech will transform India's banks
How tech will transform India's banks 8 Hours Ago Chanda Kochhar, CEO of ICICI Bank, talks about how technology such as mobile payments and internet banking is disrupting India's banking system. Watch...
Only a quarter of banking professionals think incumbents are main competition
Only 26% of banking professionals think existing banks are their main competition and most are concerned about technology companies eating into their market shares, a global banking survey has revealed....
Consumers Embrace Digital Banking, With a Human Touch
Eight out of 10 Americans surveyed by US Bank said they prefer working with a professional banker instead of a virtual one to resolve issues. While there has been a major shift to mobile banking, almost...
Malaysia’s AmBank Group increases digital banking spend
Malaysia’s AmBank Group is remodelling its retail banking services with a digital boost, in a move that could give confidence to banks across the Association of Southeast Asian Nations (Asean) region....
Cyber criminals target Singapore with banking Trojans
Singapore suffered the most attacks from banking Trojans in the second quarter of 2015 with 496 individuals reporting attacks, according to Kaspersky Lab’s recent study. Switzerland, Brazil, Australia...
Fake banking sites wrongly issued with authentication certificates
Fraudulent sites are impersonating banks for your financial details Photo: REX Natwest customers were targeted by a phishing email scam back in June 2012, when a fake email purporting to be sent by RBS...
The Blockchain Might Be The Next Disruptive Technology
To process a transaction, you need first to make sure the sender owns the asset he wants to transfer, and make sure he will not trade it twice. In the blockchain, information is stored in blocks...
SoFi CEO: Funding will boost 'aggressive' ambitions
"We actually are trying to change banking entirely. We're trying to displace what we think is a fundamentally broken system," Cagney said. "And to do that it's going to require us taking some risks, it's...
Lloyds Banking Group launches scheme to develop digital talent
Lloyds Banking Group has announced a two-year programme for graduates to develop the skills required to lead digital developments in the finance sector. The graduate scheme will be broken into three eight-month...
Nordea Bank signs Temenos and Accenture for core banking transformation
Nordea Bank AB has signed an agreement with Temenos and Accenture to implement a core banking platform as part of a major digitisation and simplification programme at the Nordic bank. The T24 core banking...
Fidor bank launches in the UK
Fidor Bank is the latest challenger financial services firm to start operations in the UK after the German company announced its UK launch. The bank – which applied for a banking licence in the UK in...
CIO interview: Stewart Bromley, Atom Bank
Following its regulatory approval, Atom Bank – one of the growing group of challengers to the established UK high street banks – is set to launch later in 2015 with its products and services delivered...
I regard the brain as a computer which will stop working when its component fail. There is no heaven or afterlife for broken-down computers. That is a fairy story for people afraid of the dark