The Top Payments News Stories in October 2017

Payment news stories in October were dominated by the usual suspects, but in particular a number of fintech and blockchain related initiatives. This was in part driven by Ripple and SWIFT both of which held their flagship conferences, as did AFP and the Money20/20 all of which trigger numerous announcements and initiatives to ensure maximum press coverage. Check out the following top payments news stories for October 2017:

1. Payments News – Cyber Security

  • European Association for Secure Transactions (EAST) reveals an increase in ATM black box attacks in the first half of 2017
  • TrustWave issue a SpiderLabs Advanced Threat Report that details a major cyberattack targeting banks mainly located in post-Soviet states
  • A former Westpac security exec launches ScramCard linking all cards to a single card which generates a 1-time PIN
  • Mastercard and The Clearing House team up to deliver a tokenisation solution
  • Bank of America partners with Intel to introduce biometric authentication for online banking

2. Payments News – Mobile Payments

3. Payments News: Blockchain / Digital / Crypto-currencies

  • MAS and ABS announces development of software prototypes of 3 different models for decentralised inter-bank payment and settlements with liquidity savings mechanism
  • BNP Paribas and TCS partner to deliver Corporate Event Connect
  • IBM announces a new blockchain based cross border payments solution
  • BNP Paribas and EY complete a pilot using a private blockchain to handle internal Treasury operations
  • 7 European banks (Deutsche Bank, HSBC, KBC, Natixis, Rabobank, Societe Generale and UniCredit) together with IBM develop Digitial Trade Chain platform which is launched into, and are joined by Santander
  • JP Morgan together with Royal Bank of Canada and Australia and New Zealand Banking Group Limited to launch an interbank payments network powered by Quorum 
  • Mastercard offers up a Blockchain API for banks and merhants
  • R3 with 22 banks build a real time cross border payments systems on the Corda distributed ledger technology platform

4. Payments News: Banks

  • Deutsche Bank puts Autobahn source code out in the public domain
  • HSBC links up with fintech firm Bud as it prepares for Open Banking
  • JP Morgan unveils Finn – a all-mobile bank!
  • HSBC experience technical problems with their online banking services, leaving customers unable to access the mobile app and online portal
  • According to the FT, UBS chief has had “regulatory and political clarifications”  that make a London Brexit exodus unlikely

5. Payments News: Fintech

  • Mastercard launches first innovation hub in Pune, India
  • RippleNet, Ripple’s blockchain network, grows to over 100 financial institutions
  • RippleNet Accelerator Program will offer a rebate for early adopter financial institutions that process and promote commercial payments via RippleNet
  • Data from London and Partners reveals London as a leading global fintech hub
  • Mastercard (again) showcase the future with a augmented reality shopping trip
  • Uber drives into the credit card world
  • Capital One speak with Finextra and reveal what they learnt about the Capital One chatbot, Eno
  • UK to implement image-based cheque clearing system
Thanks for stopping by – Take a look around…!!

6. Payments News: SWIFT

7. Payments News: Reports

That’s it folks! Let me know below if I missed anything important…

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