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June 14, 2022
On the web
ISO 20022: Full of Promise But Treasurers Remain Wary
The Global Treasurer
“Global payment has been transformed for the better over the last decade and while champions of the new payment messaging standard ISO 20022 believe it will deliver it even more profound benefits for the industry over the next ten years, corporate treasurers are more circumspect. At a recent conference Ross Jones, head of global payments at Barclays, provided a timely overview of the migration to ISO 20022 and the opportunities and challenges it represents.”
May 24, 2022
On the web
What Barclays/Lloyds Wrist Slap Means for Open Banking APIs
“One of the promises of Open Banking was that it would level the playing field, making it possible for new entrants to compete with the banking behemoths but for that to happen there needs to be transparency. Any inaccurate information can skew the market and potentially disadvantage those that rely on that information to compete. So the news that the Competition and Markets Authority (CMA) recently reprimanded both Barclays and Lloyds for breaching the open banking provisions of the Retail Banking Market Investigation Order was significant. Open Banking relies upon APIs (Application Programming Interfaces) to share data between banks, fintechs and trusted third parties (TTPs) to create a thriving digital ecosystem but it’s down to the banks to ensure those APIs are kept up to date. In the case of Barclays, it failed to do this thirteen times between November 2018 and August 2021, by not disclosing correct fees, interest rates and failing to list 47 ATMs, among other infractions. Lloyds similarly provided incorrect information ten times from March 2017 to August 2021, from failing to update credit card interest rates and cash withdrawal charges to broken links within the APIs to the terms and conditions of three of its bank account products.”
March 5, 2019
On the web
End of days as Barclays brings bPay into Pingit
“Barclays’ bPay app has had its day as it will be brought into Pingit to build out this mobile payment brand. The latter has about 3.6 million users, but bPay, which was launched in 2014, has users “in the high tens of thousands,” a Barclays spokeswoman says. With two separate apps, and the struggle against rivals like the mighty Apple and Goldman Sachs, it probably makes sense to bring them together. As part of this move, and to keep things sweet, Barclays will introduce wearable payment devices to Pingit in May.”
September 27, 2018
On the web
Barclays launches new digital platform in Western Europe
“The new digital platform is result of long-term project with its international corporate and institutional clients across Portugal, Spain, France and Ireland. Germany is expected to join later this year, followed by other countries.”
September 12, 2018
On the web
Barclays quick to embrace Open Banking with 3rd party account view in banking app
Payments Cards and Mobile
“Barclays says it will embrace the Open Banking revolution by updating its core mobile banking app allowing customers to view accounts from rival banks in one place. This change has been driven by the new Open Banking regulations which came into force earlier this year. Open Banking is a European regulation which forces the banks to open up customer data via a set of secure APIs, meaning customers can give access to their financial information to approved third parties.”
August 21, 2018
On the wires
Crowdz Selected for Barclays Techstars London Accelerator
“The primary goal of Crowdz’s blockchain-based Smart Transaction Networks is to use the blockchain, along with the associated technologies of artificial intelligence, self-executing smart contracts, and IoT (Internet-of-Things) sensing, to accelerate business-commerce transactions within the $25 trillion global business-to-business commerce market from the current weeks or months to literally milliseconds.”
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