It’s fair to say that Apple knows how to successfully disrupt a sector. Their success with desktop computers has been replicated by changing the way we listen to music, read books and even how we use our phones. Now, with Apple Pay, the company is looking to reinvent online payments. Only time will tell if the entrance of Apple into the mobile payments market will have the same impact seen in other sectors, but it is certainly a key moment for the industry.
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A recent survey conducted by Compass Plus, an international provider of innovative retail banking and electronic payments software to processors and financial institutions, has revealed that consumer trust in newer payment methods has declined significantly in the last year. However, despite this lack of trust, the results also demonstrate that consumers are still increasing the breadth of channels they use to make payments.
Some time back, the Goliaths of the cloud hosting business (you know who they are) put out the word to small and midsize organizations that they’d be delighted to offer hosting services to the Fortune 10,000. Call it an experiment or a trial balloon, but it was clear to those paying attention that try as they might, enterprise-class providers didn’t really get SMBs.
Technology trends from the consumer world will drive incremental shifts for investment managers in 2015
Major paradigm shifts in consumer technology have changed the way we manage our personal lives and have already made significant disruptions in some industries. And while the financial services space takes a more conservative approach to adopting emerging technologies for obvious reasons, we are also starting to see tech-driven disruptions emerging in retail financial services with trends like peer to peer lending and the emergence of robo-advisors.
Over the last few years, there has been an overwhelming number of regulatory guidelines banks have had to comply with. While some of these guidelines, like reporting on Special Mention Accounts and Risk Based Supervision are Central Bank specific, others like FATCA are international in nature.
The example below shows the formidable challenge Indian banks have of staying perpetually compliant
While the Australian superannuation industry has been preoccupied in recent years with responding to a raft of regulatory change, the world has not stood still. A number of forces have come into play that stand to radically shape and transform the superannuation landscape of the future. Numerous reports1 forecast continued strong sector growth in the years ahead, however, the ability of funds to take advantage of this growth will depend on their capacity to recognise and embrace change and move with the times.
Banking Compliance, Risk and Analytics Solutions pioneer iCreate Software has announced a change in its brand name. The new brand name will be ‘Fintellix Solutions’.
This development is a logical step forward as the company continues to evolve rapidly as architects of a new, smarter, data-driven financial technology landscape with their niche banking Compliance, Risk and Analytics offerings. The decision therefore was to opt for a new identity that conveys their singular focus area (i.e. Financial Intelligence) better and aids memorability / quicker brand recall.
Compass Plus, an international provider of innovative retail banking and electronic payments software for financial institutions and processors, has announced that its open development payment platform, TranzAxis, has now been fully certified to support Futurex’s Excrypt SSP9000 hardware security modules (HSMs). This new partnership with Futurex, a provider of secure, robust, and cost-effective data encryption security solutions, has extended the list of HSMs now supported by the TranzAxis payment platform.
The need of controlling trading risks has been obvious for years but this hardly reduces its relevance. In fact, it becomes ever more crucial for survival and business development. There are also questions of compliance with MiFID II measures being introduced.
High-frequency trading (HFT) may be capturing the headlines, but there is a great deal of misunderstanding about how these strategies work and the technologies involved. In response to outcries in the media and ill-informed “investor” backlash, regulators on both sides of the Atlantic are looking into the practice. Meanwhile, the debate over the fairness of HFT rages on between proponents and opponents.