The Payments Association

OCTOBER 28, 2024

What is this article about? Key findings from the Half Year Fraud Report 2024 by UK Finance, detailing the evolving threats in payment fraud. Why is it important? It highlights the rising trends in fraud and stresses the need for payment leaders to implement stronger prevention strategies and collaborations. What’s next? Payment leaders must focus on fraud prevention, collaboration with tech and telecom sectors, and public education to mitigate future risks.

Scams 88

Scams Push-to-Card Fraud Detection Online and Mobile Banking 88

Finextra

OCTOBER 28, 2024

The Governor of the Bank of England, Andrew Bailey has re-affirmed his support for a retail central bank digital currency, arguing that central banks are the "only game in town" as commercial banks lack the incentive to push for innovation.

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Innovation CBDC Central Bank Digital Currency 98

Payments Dive

OCTOBER 24, 2024

Regulators and industry participants worry that FDX will have an unfair monopoly and will advantage its own members if no other organization applies.

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Participant Regulations 145

Finextra

OCTOBER 23, 2024

Norway's progress to become one of the world's first cashless economy has hit a roadblock under new rules passed by Parliament that oblige shops to accept cash payments alongside other mobile payment and card options.

Rules 133

Rules Economy Mobile Payments Payments 133

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Large enterprises face unique challenges in optimizing their Business Intelligence (BI) output due to the sheer scale and complexity of their operations. Unlike smaller organizations, where basic BI features and simple dashboards might suffice, enterprises must manage vast amounts of data from diverse sources. What are the top modern BI use cases for enterprise businesses to help you get a leg up on the competition?

Use Case

Fintech News

OCTOBER 21, 2024

In Southeast Asia, e-wallets are rapidly emerging as the most used payment method, a trend that’s particularly pronounced in countries like Indonesia and the Philippines where a large proportion of the population still lack access to traditional banking services and where governments are pushing for greater usage of cashless transactions, a new study by Visa shows.

Financial Inclusion 136

Financial Inclusion Embedded Finance Payments Push-to-Card 136

Bank Automation

OCTOBER 24, 2024

Generative AI allows banks to analyze unstructured data, which makes up about 80% of all data within financial institutions — a capability not possible just two years ago. Unstructured data includes emails, audio, video, contractual information and more, Prag Sharma, global head of artificial intelligence for Citi’s center of excellence, said during FinTech Futures Oct. […] The post Gen AI boosts analysis of unstructured data appeared first on Bank Automation News.

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AI Automation FinTech Posting 111

Finextra

OCTOBER 22, 2024

On the second day of Sibos, Benedicte Nolens, centre head of the BIS Innovation Hub moderated the session ‘Reality check: How far have CBDCs come?’, and the speakers outlined how central bank digital currencies (CBDCs) are in various processes of development in their countries.

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Fintech News

OCTOBER 27, 2024

The value of gross digital payments across the six largest ASEAN economies is forecasted to rise to close to US$1.2 trillion by 2025, according to the World Economic Forum. The rapid evolution is leading to a growing need for seamless, secure, and efficient cross-border payment solutions. Cross-border payments in the region have lately been impacted by two key trends: re-globalisation and domestic payment schemes.

Cross-Border Payments 101

Cross-Border Payments Cross-Border Fraud Prevention Value Added Service 101

The Payments Association

OCTOBER 28, 2024

The Payments Association (TPA)’s George Iddenden recently sat down with Peter Theunis, senior vice president sales and European managing director at BPC to discuss the remarkable transformation of the payments processing industry, driven by the rise of fintech, the shift towards digital payments, and evolving consumer behaviours. The traditionally stable environment, where banks outsourced processing to established providers, has been shaken up by the emergence of fintech players.

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Process Payment APIs and Integration Processors Payments 88

Bank Automation

OCTOBER 24, 2024

IBM’s generative AI business climbed more than $1 billion in the third quarter, reaching $3 billion as clients invest in the tech. “Clients are reprioritizing their IT budgets to prepare for generative AI,” IBM Chief Financial Officer James Kavanaugh said during the company’s Q3 earnings call on Oct. 23. NatWest, for one, announced an […] The post IBM gen AI business reaches $3B in Q3 appeared first on Bank Automation News.

AI 110

AI Automation Posting 110

Speaker: Jennifer Wright and Nick Barron

2025 is right around the corner, and with it comes a new wave of consumer expectations, competitive pressures, and operational challenges. Success lies in finding the balance between operational flexibility and creating experiences that keep customers coming back. The future of retail belongs to those who can stay ahead of shifting customer preferences and marketing trends. 🔮 In this session, we’ll dive deep into what it takes to keep customers engaged and your operations nimble, no matt

Best Practices

Payments Dive

OCTOBER 28, 2024

Plaid CEO Zach Perret expects consumers to use pay-by-bank services for mortgage and utility payments, but is skeptical they will be used to pay at restaurants or for groceries anytime soon, he said.

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Consumer Payments 78

Finextra

OCTOBER 22, 2024

Europe's Target Settlement system is to join Project Nexus, a Bank for International Settlements initiative to connect domestic real-time networks across borders.

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Settlement Cross-Border Instant Payments Payments 135

Fintech News

OCTOBER 23, 2024

Emirates NBD has entered a strategic agreement with Singapore-based blockchain platform Partior to improve its cross-border payment capabilities. The partnership will allow Emirates NBD to offer clients faster, around-the-clock payment processing through Partior’s blockchain-based platform for clearing and settlement. As part of the deal, Emirates NBD will reportedly become the first bank in the region to facilitate settlement in UAE Dirhams, Saudi Riyals, and Indian Rupees on the platform.

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Cross-Border Payments Cross-Border Settlement Real Time Payments 114

Fintech Finance

OCTOBER 24, 2024

Worldline [Euronext: WLN], a global leader in payment services, has announced plans to collaborate with Visa Acceptance Solutions, to launch an optimized fraud management solution. The relationship leverages both companies’ extensive transactional data and expertise, augmenting Worldline’s payment services with Cybersource Decision Manager solution to provide businesses with powerful fraud detection across industries.

Fraud Detection 105

Fraud Detection Payment APIs and Integration Fraud Prevention AI 105

Speaker: Brad Pinneke, VP of Business Development at Payrix and Worldpay for Platforms

In this webinar, Brad Pinneke, Vice President of Business Development at Payrix and Worldpay for Platforms, will dive into the 7 must-have criteria for evaluating payments partners, helping you maximize both efficiency and the long-term value of your investment. From assessing technology capabilities to leveraging business development opportunities, this session will give you a clear, actionable strategy to select the right partner for scaling your business.

Payments

Bank Automation

OCTOBER 22, 2024

Ashleigh Ashbrook, vice president of digital service experience at Michigan State University Federal Credit Union, will join the Bank Automation Summit U.S. 2025 speaker faculty. The summit, which takes place March 3-4 at the Hilton Nashville Downtown in Nashville, Tenn., will provide two days of insight from industry experts on ways financial institutions are benefiting […] The post MSUFCU’s Ashbrook to join speaker faculty at Bank Automation Summit U.S. 2025 appeared first on Bank Autom

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Automation Credit Union Posting AI 111

Payments Dive

OCTOBER 28, 2024

Consumer Financial Protection Bureau Director Rohit Chopra called out bank litigants that sued over the rule, saying he didn’t think they’d even read it.

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Rules CFPB Consumer 78

Finextra

OCTOBER 24, 2024

The European Central bank is implementing a cross-currency settlement service on the Eurosystem's Target Instant Payment Settlement (Tips) service.

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Instant Payments Settlement Central Bank Payments 129

Fintech News

OCTOBER 22, 2024

Indonesia’s Financial Services Authority ( OJK ) has revoked the business license of PT Investree Radhika Jaya ( Investree ), a peer-to-peer lending platform. The decision was made due to Investree’s failure to meet minimum equity requirements and other regulatory provisions. The company also experienced operational difficulties and declining performance that impacted its services.

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Legal Laws Authorization Addressing 93

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Build a sustainable merchant services portfolio with practical strategies to ensure long-term success. Diversify across industries to spread risk and stabilize income, balancing high-risk and low-risk clients for a robust mix. Combine large and small merchants to create a resilient payment portfolio, leveraging each type's strengths. Foster long-term relationships through exceptional service and personalized support.

Payments

Fintech Finance

OCTOBER 24, 2024

Finix , the full-stack payment processor enabling businesses to accept and send payments online and in-store, today announced it has raised $75 million in Series C funding, led by Acrew Capital and co-led by Leap Global and Lightspeed Venture Partners, with participation from new investors Citi Ventures, Tribeca Venture Partners, and more. Existing investors, including Homebrew, Insight Partners, Inspired Capital, Cap Table Coalition, and others, also participated. “Finix offers no-code pa

Payment APIs and Integration 103

Payment APIs and Integration Cross-Border Payments Processors Cross-Border 103

Bank Automation

OCTOBER 25, 2024

Capital One invested heavily in integrating Discover Financial Services in the third quarter as it prepares to acquire the company, providing the transaction is approved by the Federal Reserve. The deal is expected to be finalized in early 2025 if it lands regulatory and shareholder approval, Richard Fairbank, chairman and chief executive at Capital One, […] The post Capital One spends $63M on integration of Discover appeared first on Bank Automation News.

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Federal Reserve Acquirers Automation Transactions 101

The Fintech Times

OCTOBER 23, 2024

One of the poorest countries in the Asia-Pacific (APAC) region, East Timor, or Timor-Leste, is trying to foster economic development and growth, albeit while facing a number of challenges. As the country looks to ensure future stability, we ask how big a role fintech can play in making progress. Located in Southeast Asia on Timor Island, Timor-Leste initially gained independence in 1975 – although Indonesia quickly took control of the territory and absorbed it into the country.

Financial Inclusion 101

Financial Inclusion FinTech Credit Union Financial Literacy 101

Finextra

OCTOBER 21, 2024

The National Bank of Kazakhstan will provide clients the “ability to spend crypto tokens” by the end of this year, announced Assel Marchenko, CTO and deputy of CEO, National Bank of Kazakhstan, at Sibos today.

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Speaker: David Nisbet, Everett Zufelt, and Michaela Weber

Once upon a time, in the vast realm of online commerce, there lived a humble checkout button overlooked by many. Yet, within its humble click lay the power to transform a mere visitor into a loyal customer. 🧐 💡 Getting checkout right can mark the difference between a successful sale and an abandoned cart, yet many businesses fail to make payments a part of their commerce strategy even when it has a direct impact on revenue.

Transactions

Fintech News

OCTOBER 21, 2024

Singapore-based regtech firm Tookitaki has secured funding from True Global Ventures (TGV) Opportunity Fund. The sum was not disclosed. This funding will support Tookitaki’s expansion across key Asian markets and bolster its financial crime prevention technology. Tookitaki’s platform, FinCense, uses AI to help institutions detect and address financial crime more effectively.

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Financial Crimes Security Crime Cross-Border Payments 117

Fintech Finance

OCTOBER 24, 2024

Merchants, payment service providers (PSPs) and third-party providers (TPPs) recognise the potential of Commercial Variable Recurring Payments (CVRP, in the UK) and Dynamic Recurring Payments (DRP, in Europe) to deliver better payment experiences, more choice, and lower processing costs. There are real concerns, however, that lack of bank support is impeding their delivery.

Risk 98

Risk Use Case Payments Debit Card 98

Finovate

OCTOBER 21, 2024

News in the payments space has been heating up this month, with announcements from Mastercard, Stripe, Token.io, Worldline, and Tyfone shaking things up. What’s next for payments? Stay tuned throughout the week to read the latest news this week as we post updates and evolutions. Bank technology Tompkins Community Bank selects NCR Atleos ATM-as-a-Service to strengthen self-service banking.

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ATM Community Banks FinTech Visa 103

Fintech Review

OCTOBER 22, 2024

Cryptocurrencies have rapidly gained prominence over the last decade, presenting both opportunities and challenges for individuals, businesses, and regulators alike. As digital assets become more widespread, taxation laws are being shaped and adapted to accommodate them. However, the taxation of cryptocurrencies is a complex matter, with varying approaches and inconsistent frameworks across jurisdictions.

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Cryptocurrency Laws IRS Regulations 97

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AI

Fintech News

OCTOBER 23, 2024

Australia has unveiled a three-year initiative to explore the potential of central bank digital currencies (CBDCs) with a focus on wholesale CBDC opportunities, industry outreach and regulatory improvements, Brad Jones, Assistant Governor (Financial System) at the Reserve Bank of Australia (RBA), told the audience at an industry event in September. Australia’s digital money work plan will kickstart with the public launch of Project Acacia, an initiative focusing on assessing the feasibility of n

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Fintech Finance

OCTOBER 24, 2024

JazzCash , the fintech arm of Pakistan’s leading digital operator Jazz, a VEON Group company, has received the ‘Pioneering Telco to Launch Tap on Phone’ award at the Mastercard Payment Leaders Awards. The ceremony was held on the sidelines of the Mastercard EDGE 2024 event in Dubai. The award recognizes JazzCash’s innovative approach, the first of its kind globally, allowing over 350,000 merchants and businesses to accept payments from contactless cards or smartphones with a simple tap on an NFC

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Visa Point-of-Sale (POS) Economy Digital Payments 98

Payments Dive

OCTOBER 28, 2024

The companies call the new regulation arbitrary and capricious, carrying a presumption that subscription services are deceptive.

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Blocks FTC Rules Regulations 78

Bank Automation

OCTOBER 21, 2024

Commonwealth Credit Union is using Zest AI’s underwriting solution to speed up customer service and improve risk modeling and accuracy of underwriting. “Seventy percent to 83% of all our loan underwritings are automated now,” Chief Growth Officer Jaynel Christensen told Bank Automation News. The $2 billion credit union started working with Zest AI in 2021 […] The post Commonwealth automates majority of underwriting with AI appeared first on Bank Automation News.

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Underwriting Automation AI Credit Union 96

Speaker: Shaunna Bruton, Danielle Wyllie, and Kailey Holmes

Say goodbye to one-size-fits-all retail, and say hello to experiences that keep your customers coming back for more! Customer loyalty isn’t just earned - it’s cultivated through meaningful engagement with the help of data. This webinar will take you behind the scenes of how top retailers turn customer data into personalized experiences that drive engagement and retention.

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