The 5th Edition of the 3 day International Trade fair and conference on banking technology, equipment and services, IBEX India concluded successfully on the 21st of January 2017. The 3 day event witnessed strong industry attendance & played host to 3552 bankers and banking industry professionals, a 60% increase over its previous edition in 2015. IBEX India 2017 held at the MMRDA Grounds, Bandra Kurla Complex from 19 to 21 January, was inaugurated by Mr. Mrutyunjay Mahapatra, DMD & CIO of State Bank of India. 

ACI Worldwide, a leading global provider of real-time electronic payment and banking solutions, today announced an extended partnership with Klarna, leveraging ACI’s UP eCommerce Payments solution. This will enable online businesses in 10 major markets, including the U.S.

Banks and law firms have one thing in common these days – cyber fraudsters see their emails as the perfect way to get at clients and supply chain partners.  

Take, for example, the attack on a London law firm before Christmas in which criminals sent out 1,600 highly convincing decoy emails to the company’s clients, asking them to click on an “urgent” attachment. The hackers were intent on fraud and had gained access to the server of the London firm Anthony Gold Solicitors so they could send out malicious email attachments in an attempt to uncover clients’ log-in details.

By the time the next edition of Financial IT is published, in early 2018, the revised Payments Services Directive (PSD2) and enhanced Markets in Financial Instruments Directive (MiFID II) will be in force across the European Union (EU). By the end of May 2018, banks that are operating in the EU will also have to comply with the General Data Protection Regulation (GDPR).

Dash, the top digital currency for payments, today announced a partnership with Bitnovo, the Spanish cryptocurrency payment platform, allowing consumers to purchase Dash in over 10,000 retailers throughout Spain. 

Financial Services Superintendent Maria T. Vullo today announced that Western Union has agreed to pay a $60 million fine as part of a consent order with the New York State Department of Financial Services (DFS) for violations of New York Bank Secrecy Act (BSA) and anti-money laundering laws (AML).

RoboForex (CY) Ltd, a European broker, is announcing its rebranding to RoboMarkets and will continue its professional activities under a new name. RoboMarkets has taken strategic steps to establish a global brokerage and expand a product line with the collaboration of cutting-edge technology and proprietary solutions. RoboMarkets will continue to strengthen European Market presence and provide clients access to the financial markets while continuously improving trading conditions.

Stores are becoming increasingly more connected. The Internet of Things will allow retailers to transform their brick and mortar locations to offer more contextual and efficient consumer experiences. Consumers can expect more frictionless shopping, which will be as simple as walking into a store, selecting what they want, and then walking away. The payment will happen securely and seamlessly behind the scenes. Technology helps digitize the physical world, opening the door for retailers to gain unique visibility into data that was historically unavailable or inaccessible.

Most FTSE 350 and Fortune 500 companies are underestimating whether they will be able to fully comply with the upcoming General Data Protection Regulation (GDPR) by May 2018, new research by international law firm Paul Hastings has shown today.

The survey of 100 FTSE 350 General Counsel (GCs) and Chief Security Officers (CSOs) and 100 Fortune 500 GCs and CSOs reveals 98% of Fortune companies consider themselves to be on track for GDPR, with 94% of FTSE companies saying the same.

Robert Courtneidge has been named as CEO of international payments business Moorwand to drive the business into a new phase of growth. Robert will take on the role from 4th January 2018 while ensuring a seamless hand-over of his prior responsibilities as Global Head of Cards & Payments at Locke Lord LLP.

Moorwand is a principal member of Mastercard and Visa, providing payment services to merchants and customers in the EEA. Its head office is in London where Robert will be based.