In the world of high-frequency trading, where being ahead of the competition by a few milliseconds can mean profits worth millions of dollars, finance firms are increasingly looking to decades-old microwave technologies for a competitive edge.
Dutch payment services company Adyen has developed a service it hopes will allow sales staff at major European retailers to accept card payments via a mobile phone, perhaps allowing them to do without dedicated cashiers.
The story "BBVA moves to real-time banking" incorrectly referred to the value of an Accenture contract rather than to the cost of the BBVA project. The first sentence of the second paragraph should read:
BBVA Compass, the U.S. subsidiary of the Madrid-based Banco Bilbao Vizcaya Argentaria banking group, is modernizing its core IT banking infrastructure, making it one of the first banks in the U.S. to offer real-time processing for its customers.
A blockade on WikiLeaks payments processor DataCell by Visa, MasterCard and American Express is unlikely to violate E.U. competition rules.
Bloomberg has launched an app portal that will allow subscribers of its financial information service to access additional third-party functionality, and even contribute apps of their own.
A partnership of New York City businesses has put out a call for innovative financial technologies.
Tata Consultancy Services (TCS) has bagged a £1.37 billion (US$2.2 billion) business process outsourcing order from Friends Life, a provider of pensions, investments, and insurance, it said in a filing to Indian stock exchanges.
An electrical fire on Sunday at a data center of the New York Stock Exchange in Mahwah, New Jersey, affected communications connectivity to 58 trading firms, but the exchange expects "completely normal operations" for Monday's market open.
Researchers from browser security vendor Trusteer have identified a new variant of the SpyEye financial Trojan that tricks online banking users into changing the phone numbers associated with their accounts.
Online banking fraud losses in the U.K. fell 32 percent in the first half of the year, according to figures from U.K. banks released on Wednesday. The decline is due to the increased use of fraud detection software by banks, an industry group said.
Google Wallet has run into technical glitches, although the extent of the problems is not clear.
MasterCard on Thursday gave a sneak peek into the near future of mobile payment systems and said that the Google Wallet application is within weeks of being rolled out commercially.
PayPal has unveiled a mobile payment initiative for shoppers that doesn't require near-field communication (NFC) technology inside smartphones.
U.S. government agencies are getting better at sharing information about cyberattacks with private companies, but cybercrime shows no signs of slowing down, cybersecurity experts told lawmakers Wednesday.
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