June has been a crazy month for me, and as a result i have not been writing so much. Anyway, this months payments news recap was a good opportunity to catch up and see what has been happening. And what a month! Check out the following top payments news stories that caught my eye during June 2017:
1. Payments News – Cyber Security
- Another credit card breach at Kmart Stores
- An overview of the Petya ransomware attack and a interesting theory…
- Fico survey reveals European card fraud for 19 countries hit €1.8 billion in 2016
2. Payments News – Mobile Payments
- Apple to launch a Venmo competing payments service
- WorldPay trial a software only card payment mPOS (mobile point of sale) – allowing small businesses to take card payments using their smartphone!
- UK Cards Association report on how card payments in the UK have more than doubled in the last 10 years
3. Payments News: Digital / Crypto-currencies
- AIG, IBM, Standard Chartered pilot a blockchain based insurance policy
- Barclays UK CEO talks to CNBC about blockchain
- IBM announce the joining forces of 7 banks within the Digital Trade Chain Consortium
4. Payments News: Banks
- HSBC to launch robo-advisory online investment advisory service
- HSBC launch a social network for businesses
- BBVA talks about the digital transformation of the bank at MoneyConf 2017
- Lloyds Bank sign up IBM in a £1.5 billion IT outsourcing deal
- Natwest establishes digital centre of excellence studio in Bristol
- Nationwide survey: The Future of Payments
- Bank of England director, James Proudman, spoke at the British Bankers Association on ring-fencing – Putting Up a Fence
- BBVA head of marketing, Rob Brown, speaks about the importance of user experience (UX)
- ECB will develop a service for the settlement of instant payments – TIPS – TARGET Instant Payment Settlement
- Barclays celebrates the 50th anniversary of the ATM
- BBVA signs agreement allowing Chinese visitors to use AliPay to Spain
- EBA responds to the European Commission intention to amend the EBA Technical Standards for open and secure electronic payments under the PSD2
5. Payments News: Fintech
- Payment App Revolut launches free international money transfers
- Misys and D+H join forces to form Finastra
- Berlin Group announces the creation of a common European API standard to support PSD2
- Openbank, a Banco Santander subsidiary, goes completely digital
- The EBF – European Banking Federation – responds to EU consultation on fintech
- Paypal and Venmo will introduce instant bank transfers
- In a speech by the Singaporean finance minister Heng Swee Keat reveals how rules will changed to allow banks to move into non-financial businesses such as e-commerce and digital payments
6. Payments News: SWIFT
- Finextra cover the SWIFT Business Forum in New York
- EastNets to implement artificial intelligence and machine learning to detect and act on dodgy SWIFT payments
- SWIFT to offer 200,000 EUR incentive to the Fintech community to build upon the GPI platform
7. Payments News: Reports
- Greenwich Associates report: Addressing the Latest Trends in Distributed Ledger Technologies
- Dassault Systèmes survey: Digital Transformation and Disruption in Asset and Wealth Management
- EBA Clearing: Ensuring a smooth take-off for euro instant payments: A white paper on pan-European infrastructure considerations
- All Clear Id: GDPR: Banks, Breaches, & Billion Euro Fines – overview by EU GDPR
- Finextra – EBA Day Overview: Day 1 and Day 2
- Deloitte comment how “Open Banking” will bring about a “dramatic overhaul of traditional banking models in the next decade”
- Global Payments Innovation Jury 2017 Report
- Consult Hyperion report: AMLD4/AMLD5 KYCC: Know Your Compliance Costs
- State Street study: A New Climate for Growth: Cultivating Asset Intelligence to Thrive
- EY Study: EY FinTech Adoption Index
- MasterCard whitepaper: The Sharing Economy: Understanding the Opportunities for Growth
- Financial Stability Board Report: Financial Stability Implications from FinTech
- British Bankers Association report: An app-etite for banking
That’s it folks! Let me know below if I missed anything important…