23 February 2018

23rd February 2018
  • Mobile/Contactless and omni-Commerce
  • Issuing
  • Digital/Retail Banking
  • Innovation
  • Fraud/Security
  • Instant Payments
  • Fintechs
  • Acquiring/Processing
  • Blockchain/DLT/ Cryptocurrencies
  • APIs Open Banking
  • Corporate activity
  • Regulation


The IMRG Capgemini e-Retail Sales Index for January indicates UK online retail sales were up +13.9% yoy.  http://tinyurl.com/yde3av5b

A stronger January performance than expected.


MasterCard issues another push for contactless and wearables. EU http://tinyurl.com/y87pdbsr                   UK http://tinyurl.com/ybteb8kq

Latest survey indicates 175m people in Europe (17m in UK) expect to use wearables, although when is not clear.


Raiffeisen Polbank has launched BLIK payments as the Scheme claims major progress in 2017. http://tinyurl.com/ydetzjce

In 2017, BLIK users made over 33m transactions worth PLN4.5bn, it claiming 70% market share of e-commerce payments. .  Users have access to17,000 ATMs and pay in  pay at 230,000 POS.


The Google Pay global roll-out is now under way.   http://tinyurl.com/yc5thkw4   App on play Store  http://tinyurl.com/cbvqfet

Plenty of enhancements and P2P functionality are coming to US and UK in the near future.  The Wallet app is now called Google Pay Send ftb.



Worldpay has announced the release of DataEdge for Financial Institutions, a data insights and analytics tool. http://tinyurl.com/yc4p2n9c

DataEdge provides users with a total picture of their credit and debit card issuing portfolio through a single dashboard.



Lloyds Bank Group – Strategic update: Transforming the Group for success in a digital world.   http://tinyurl.com/yapxyruq

LBG is to invest £3bn over the next three years to transform the business into a “digitised, simple, low risk, customer focused, UK financial services provider”.


Starling Bank has announced the launch of ‘Settle Up’, a function within its app that supports the requesting and receiving of funds. http://tinyurl.com/yc7v3c9d

Users will get their own Settle Up page and link so they can send funds by return using a couple of clicks if they have a Starling account or via a dedicated payment page using any UK debit card..


Soldo, a fintech start-up offering a Corporate expense management solution, has also integrated with Starling, allowing its users to automate their payment needs. The move gives Soldo its own sort code and account number and access to FPS.



NatWest has announced that it is in advanced testing of an AI powered ‘digital human’ Cora. http://tinyurl.com/yapkho4j

Based on its Cora chat bot the new Cora is able to answer basic verbal questions and could serve as an additional way for customers to get help.



Three Russian Banks –  Tinkoff Bank, VTB Bank and Pochta Bank – alongside Rostelecom, are trialling a biometric identity system. http://tinyurl.com/yau2zoy2

The Unified Biometrics System (UBS) combines voice and facial recognition based on a photographic image and will be integrated into the banks’ information platforms. Its security mechanisms will deny authentication if the match score is too low. Wider use of the system in other environments is planned.


Ravelin, a fraud solution start-up, is leveraging PSD2 to market its Ravelin Enterprise product.  http://tinyurl.com/y9bdy62d

The product uses machine learning models to score a merchant’s every customer interaction for fraud risk, forming a complete picture of a shopper’s risk profile before they reach checkout. The sales pitch is that this will enable users to take competitive advantage of PSD2 requirements re fraud rate thresholds. https://www.ravelin.com/ravelinenterprise



EBA CLEARING’s instant payment system RT1 has processed 500,000-transactions.  http://tinyurl.com/yaglyuho

RT1 has processed transactions with a total value of €300m in its first three months and currently handles over 10,000 transactions per day on average. There are 20 participants supporting 500 PSPs from 10 EU countries.



BIS has published a new Report – Sound Practices: Implications of fintech developments for banks and bank supervisors.  http://tinyurl.com/ydypt3d3    Report http://tinyurl.com/y7vmx9zx

The Report assesses how technology-driven innovation in financial services, or “fintech”, may affect the banking industry and the activities of supervisors in the near to medium term. It looks at a number of future potential scenarios and includes six case studies of technology developments and fintech business models.



Bertelsmann  owned Arvato Financial Solutions has announced the launch of an accounting and payment processing solution Aqount. http://tinyurl.com/ycaakpy9

The solution supports all financial transactions in the order-to-cash process, including multiple payment methods, receivables, bank account and cash flow management, chargebacks, debt collection and returns processing. Aqount comes in a number of expandable packages.


Starling Bank is to become the first UK challenger bank to offer Merchant Acquiring services. https://www.starlingbank.com/paymentservices/


Brussels HQed Openway has announced its WAY 4 acquiring solution is now able to support merchant aggregators and marketplaces. http://tinyurl.com/y9o8esco

Opeway claims its acquiring solution powers 14% of acquiring transactions in Europe.


Stripe has sent out notices to its European users that it is now a principal acquiring member of both Visa and Mastercard in Europe.



The Treasury Committee is launching a new inquiry into digital currencies and distributed ledger technology.  http://tinyurl.com/y73apahf

The inquiry will cover the role of digital currencies in the UK, including the opportunities and risks that digital currencies may bring to consumers, businesses, and the Government.



The European Fintech Alliance has published a statement containing a set of proposed criteria for adoption by the API Evaluation Group. http://tinyurl.com/ycztvmsb

The EFA calls on European Institutions to ensure that any API offered by banks has the adequate functionalities and performance, and works in practice and appends an Annexe setting out the criteria any API should meet.

See item under Regulation on Speech by Yves Mersch.



Bristol based Creditcall is to be acquired by US whitelabel gateway provider NMI. No price given but partial PE exit. http://tinyurl.com/yc52o5mh  FAQs http://tinyurl.com/y86zsku9

The deal will bring together NMI’s CNP ecommerce and mcommerce platform with Creditcall’s CP capabilities across the US/EU markets.

The combined entity claims $45bn payment volume per annum, 165 processor integrations and over 100 device certifications worldwide.


Temenos and trading platform provider Fidessa have reached an agreement on the terms of a recommended all cash acquisition by Temenos, through its wholly-owned subsidiary, Temenos Holdings UK. http://tinyurl.com/y773dhfp   Presentation http://tinyurl.com/yabymcxv

The two parties see the deal as creating a global leader in financial services software. The enlarged Group is expected to have 2017 revenues in excess of $1.2bn with c42% of sales in Europe.


InPay , a Danish Cross-border payment provider is acquiring Eurogiro. http://tinyurl.com/ybeskuxg

Eurogiro operates a global infrastructure that enables particularly postal organisations along with banks and other financial institutions to execute cross-border payments and will continue as an independent company.



The FCA has launched a call for input on the use of technology to achieve smarter regulatory reporting. http://tinyurl.com/y9785k24

A ‘proof of concept’ was developed during an earlier ‘TechSprint’ event that could make regulatory reporting requirements machine-readable and executable and the Call for Input  now asks for views on how the FCA can improve this process.


Speech by ECB’s Yves Mersch  at the EBF’s Executive Committee – Reaping the benefits of payment services in a new regulatory environment.  http://tinyurl.com/ycvlptje

Amongst other things he indicates that the SCA RTS should soon be finalised and published in the Official Journal. He goes on to say

“I encourage all PSPs to ensure the highest level of security in their payment services and adopt the requirements of the RTS ahead of time. Banks should also grasp the opportunity to work towards a single and standardised interface to communicate with third-party providers (TPPs) across Europe in a safe and efficient manner. Cooperation with TPPs and users is crucial in this context…”

Later he encourages all the five current API initiatives to join forces and agree on one common technical specification and banks to offer a dedicated interface and not an adaptation of its existing customer online banking interface.

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