You’ve probably noticed that its been a quiet month for me, I had a couple of weeks off and am now trying to fight off the holiday blues. Hey ho! I was off the grid and so this edition of Payments news stories in August 2016 was useful for me to do, and helped me catch up on all the payments stuff that happened this past month. Check out the following top payments news stories for August 2016:
1. Payments News – Cyber Security
- 8 of the biggest US banks team up to fight cybercrime
- Australia sets up a specialist cyber crime unit
- Phillipine Central Bank issues a record $21 million fine to Rizal Commercial Banking Corp (RCBC) over its role in the Bangladesh cyber heist
- Sage employee is arrested following a insider threat data breach
2. Payments News – Mobile Payments
- Apple and Australia’s big banks collide over the use of Apple devices to make payments
- The National Payments Corporation of India (NPCI) launches a secure payments app called Unified Payments Interface (UPI) in India revolutionising mobile money transfers in the country
- America’s big banks take on Venmo with their very own Zelle
- Samsung Pay celebrates its first anniversary with about 100 million transactions in 7 countries
- Contactless spending in the UK in the first 6 months of 2016 is already more than the total contactless spend for the whole of 2015!
- Ingenico Group and Alipay team up to deliver AliPay services across Europe
3. Payments News: Digital / Crypto-currencies
- R3 files a patent and unveils plans around its Concord software platform, which will deliver distributed ledger functionality to financial institutions
- SBI Ripple Asia launch a consortium of 15 Japanese banks to create a real time domestic and cross border payments platform
- Fancy being a Digital Currencies team Research Lead for the Bank of England?
- The EBA welcomes the European Commissions proposal to bring virtual currency exchanges and wallet providers within a new AML directive
4. Payments News: Banks
- Standard Chartered rolls out biometric tech across Asia, Africa and the Middle East
5. Payments News: Fintech
- SWIFT’s Innotribe and Innovate Finance join forces to form Global FinTech Hubs Federation (GFHF)
- Monetary Authority of Singapore (MAS) released a paper on proposed changes to payments regulation and the creation of a National Payments Council
- The Internet of Things and the Future of Banking according to Jacqueline Guichelaar
6. Payments News: Reports
- JPX publish a blockchain working paper “Applicability of Distributed Ledger Technology to Capital Market Infrastructure”
- Monetary Authority of Singapore (MAS) outlines strategies for Electronic Payments in Singapore
- CB Insights and KPMG release their The Pulse of Fintech – Q2 2016 Report
- World Economic Forum report on The future of financial infrastructure: An ambitious look at how blockchain can reshape financial services
- PwC report on The strategic implications of PSD2 for Europe’s banks
- Reuters report details of a private letter from SWIFT to its customers highlighting new hacking attacks and the reiterate the need for stringent security controls within customer environments
7. SWIFT
- SWIFT call in BAE systems and Fox-IT and establish a Customer Security Intelligence Team
- SWIFT forms HVPS+ (High Value Payments Systems) – an ISO 20022 market practice task force
- Peter Vander Auwera provides Innotribe Sibos 2016 – A preview
That’s it folks! Let me know below if I missed anything important…