Ethical hackers look for security weaknesses before they are exploited

The Department of Homeland Security said it is National Cyber Security Awareness Month, yet Scottrade and the American Bankers Association have both reported breaches in the past week. For those organizations, forensic security will fully unwind the severity of the situation, but firms are increasingly adopting preemptive, or ethical hacking to uncover the weaknesses before they are exploited.

EBS BrokerTec targets asset managers with acquisition of Molten Markets

Foreign exchange and fixed income trading business EBS BrokerTec has expanded its reach to asset managers with the acquisition of Molten Markets, a foreign exchange technology provider for asset managers and pension funds.


Spotlight: BNP Paribas tests dynamic replacement for 3-digit CVV code

BNP Paribas is rolling out a security solution pilot that replaces the three-digit CVV code on the back of credit and debit cards with a small screen containing a dynamic code that regularly...

RBC rolls out natural language voice recognition for customer authentication

Following a successful pilot of the technology over the summer, Royal Bank of Canada is phasing in natural language voice recognition for customer authentication. The bank says the technology matches customers' "voiceprints" to their live voice in real time, authenticating customers within seconds of their call.


Goldman Sachs, JPMorgan Chase, Morgan Stanley, SmartStream reveal reference data utility project

Goldman Sachs, JPMorgan Chase and Morgan Stanley announced they have joined with SmartStream to create a reference data utility that will normalize and validate data across asset classes. The utility is called Securities Product Reference Data or SPReD, and the founding banks will all use its service as clients.


Cloud Lending raises $8M in venture funding

Cloud Lending Solutions, a provider of cloud-based lending solutions to marketplace lenders, banks, and other fintech companies, announced that it has raised $8 million in Series A venture funding. The company, which has offices in San Mateo, California, and Bangalore, India, plans to use the funding to open a U.K. office and expand product development.

Societe Generale Securities Services launches dealing desk outsourcing service

Societe Generale Securities Services is launching a new dealing desk outsourcing service for asset and investment managers. Called I-DEAL, the service covers the entire range of asset classes and global markets. It is intended to help managers optimize and simplify their trade executions in an increasingly complex and competitive environment.

Bottomline Technologies boosts comprehensive fraud monitoring by integrating Intellinx acquisition

Less than a year after its acquisition of Tel Aviv-based cyber fraud detection provider Intellinx, Bottomline Technologies has integrated the solution into its digital banking platform. The company says the technology complements existing anti-fraud technologies it had around payments and cash management by giving banks and their business customers a comprehensive view of activity on their applications and networks.

Northern Trust launches standalone FX product for investment managers

Northern Trust is launching a customizable, standalone foreign exchange trading platform for investment managers, called CompleteFXTM. The bank said the platform combines the operational efficiency of its Global Fund Services infrastructure with market and execution expertise from its Global Foreign Exchange group.

Russell Investments, Confluence weigh challenges of complying with systemic risk regs

In the years since Dodd Frank was signed into law, regulators have taken a more systemic risk approach to regulation. For financial firms, the result of that shift is creating data management, analytical, and reporting challenges, representatives of Russell Investments and Confluence said during a breakfast panel before the ICI Tax and Accounting Conference in Orlando this week.


Societe Generale may cut 1 in 5 branches over 5 years

Societe Generale may cut 20 percent of its branches in France over the next five years as part of an acceleration of a branch reduction strategy that began this year with the closure of 40 branches....

A big week for credit and debit card security

The U.S. credit and debit card industry's transition from magnetic stripe cards to chip cards becomes official this week, as October 1 is the deadline by which card issuers and merchants must make the transition to chip cards and chip card readers or face increasingly liability. While the country's transition is far from complete, the looming deadline has spurred an increase in activity, with some stakeholders scrambling to adopt the technology ahead of the industry deadline.


Robo-advisory aims to become more targeted as Ellevest secures funding for female-focused site

Ellevest is looking to take a new twist on the explosion of excitement around robo-advisory. The just-announced platform, which received $10 million in Series A financing, will launch a robo-advisory site targeting women in early 2016.


Liquidnet launches bond market dark pool with 120 asset managers on board

Liquidnet, a company long known for its equity market dark pool, announced that it has officially launched a bond market dark pool to enable asset managers to trade corporate bonds with each other in the US, Canada and Europe. The company said 120 asset managers are enrolled in the platform, representing two-thirds of the top 50 holders of US corporate bond assets under management.


ATM stakeholders begin collaboration on top security issues

When the ATM Security Association for Enhanced Technology formed late last year it aimed to create a mechanism for faster collaboration and information sharing among the different stakeholders in ATM security, from ATM manufacturers to suppliers and financial institutions. Less than a year later, the organization is laying the groundwork for that collaboration, including installing technology for secure information sharing among its members and outlining the organization's first steps.


CME Group signs cooperation agreement with China's CFETS

Chicago-based global derivatives market operator CME Group announced it has signed a cooperation agreement with China Foreign Exchange Trade Systems, the major trading center and pricing platform for China's RMB currency and related products. Through the agreement, CME and CFETS agreed to promote each other's market infrastructure and products and explore joint opportunities.

Samsung pay launches in US

After a successful launch in South Korea, Samsung Pay made its official debut in the U.S. this week. The challenger to Apple Pay works on new Samsung phones, including Galaxy S6, S6 edge, Note5 and...

Prosper blends marketplace lending with robo-analytics through BillGuard acquisition

Online lending site Prosper Marketplace has signed a definitive agreement to acquire BillGuard, a personal finance analytics company that develops apps to manage, protect and do more with money and credit. The acquisition represents the merger of two hot trends in financial services – marketplace lending and automated personalized analytics, sometimes called robo-advice.


BIAN expands in the US as PNC and others embrace the non-profit's bank IT standards

About two years ago, looking for a way to modernize aspects of its architecture, PNC Bank joined the Banking Industry Architecture Network (BIAN), a non-profit group looking to reduce integration cost for banks through the creation of consistent service definitions in a service oriented architecture.


Citi closes all branches in Massachusetts to focus on digital channels

Citigroup will close all its retail banking operations in the state of Massachusetts in January as it reallocates resources to digital channels. The move means 17 branches in and around Boston will be shut.