To prepare for its planned summer launch of Samsung Pay, the company's answer to Apple Pay, Samsung is shutting down its existing Samsung Wallet. "Samsung Wallet will be discontinued except...
A former Western Union executive has launched a Web-based global payments platform powered by a blockchain engine to reduce friction for businesses in international payments.
Financial software vendor Misys is launching a new component of its Misys FusionBanking Essence platform targeted toward the growing Islamic banking sector. The company says Islamic banking has an annual growth rate of 17 percent.
With financial firms under pressure to compete with a growing number of digital-oriented competitors, the financial sector is increasingly employing one of the most popular tools for effecting digital transformation: application programming interfaces.
Peer-to-peer lending may soon need a new name. The lending that originally began as a method of enabling individuals to borrow money without the use of established financial institutions has been increasingly attracting investment from established financial industry players, including large banks, fund managers.
Goldman Sachs plans to develop digital banking services for consumers and small businesses, and has already brought on a new executive to lead the effort.
There was a net loss of 332 bank branches across the US in the first quarter of 2015, with PNC Financial Services Group leading the closure tally for the quarter with 38 net closings, according to a recent report from SNL Financial.
The Retail Payments Risk Forum of the Federal Reserve Bank of Atlanta released a working paper last month assessing the strengths and weaknesses of different methods of authentication in financial transactions. The paper evaluates authentication methods to address the challenge of increasing the confidence level of authenticating customers without adding so much friction to the process to discourage customers from completing transactions.
MasterCard is acquiring analytics firm Applied Predictive Technologies (APT) for $600 million, in a strategic effort to boost business services for merchants.
A week ago when Citi, the country's third largest lender, announced a $150 million partnership with online peer-to-peer platform Lending Club, Lending Club founder and CEO Renaud Laplanche described the partnership as symbiotic.