Wed.Apr 03, 2024

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5 Common Cybersecurity Blunders Often Made by Commercial Enterprises

VISTA InfoSec

Big businesses carving out their place in the digital age find themselves in a constant battle against cybersecurity threats. Despite their access to state-of-the-art technology and substantial financial resources, these commercial giants are not impervious to attacks. The complexity of their networks and the voluminous data they handle magnify their attractiveness as targets for cybercriminals.

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Credit card complaints jumped 38% last year: CFPB

Payments Dive

The Consumer Financial Protection Bureau received 70,000 card-related complaints from consumers last year, according to a report last week.

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What Should We Expect to See From Embedded Finance in 2024?

The Fintech Times

This April, The Fintech Times is focusing on all things embedded finance, the integration of financial services into non-financial products and services. As the space rapidly develops, we look to highlight the latest developments, initiatives and challenges embedded finance has to offer and overcome across the globe. As time passes, consumers are seeing the number of embedded finance offerings increase across the wide range of products and services they use.

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AI vs AI: The best hope for combating generative AI fraud risk

Payments Next

By Laurent Charpentier, CEO, Yooz Even those who aren’t die-hard fans of Marvel Comics have heard of the superhero Iron Man, a The post AI vs AI: The best hope for combating generative AI fraud risk first appeared on Payments NEXT.

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From Start to Scale: Driving Growth Through Seamless Payments Implementation

Speaker: Michael Veatch, Senior Director, Implementations & Ella Aguirre, Director of Solution Consulting

Embedding payments can be a transformative step for software companies looking to enhance their platform capabilities, boost customer satisfaction, and drive long-term growth. However, the success of payments hinges on a single thing: implementation. Drawing on real-world insights and experiences, payments implementation experts Michael Veatch and Ella Aguirre will explore actionable strategies that can lead to a transparent, friction-free launch and mitigate potential challenges like technical

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Laos and Brunei Joins ASEAN’s Initiative for Real-Time Cross Border Payments

Fintech News

The Central Bank of Brunei Darussalam (BDCB) and the Bank of the Lao PDR (BOL) have formally joined the Regional Payment Connectivity (RPC) initiative. This expansion brings the number of ASEAN central banks involved in the RPC to eight, joining the ranks of Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam. The initiative, which began in late 2022, aims to make cross-border payments faster, more affordable, transparent, and inclusive, leveraging technologies like QR code-based

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BofE and FCA issue draft guidance on Digital Securities Sandbox

Finextra

UK regulators are inviting feedback on draft guidance for firms looking to enter the country's new Digital Securities Sandbox (DSS).

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The Evolution of High-Risk Merchant Processing

National Processing

Are you dealing with the challenges of high-risk merchant processing? Even if you aren’t currently facing challenges, that could change in the future due to things outside your control. We will get into reasons for those changes and give you plenty of insights on how best to handle merchant processing in high-risk industries. Let’s […] The post The Evolution of High-Risk Merchant Processing appeared first on National Processing.

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BIS and 7 Central Banks Launch Project Agorá for Tokenised Cross-Border Payments

Fintech News

The Bank for International Settlements (BIS) , in concert with seven prominent central banks, has embarked on an exploratory project known as Project Agorá aiming to modernise international monetary transactions. This initiative, named after the Greek word for marketplace, aims to delve into the potential benefits of tokenising cross-border payments to enhance the global monetary system’s efficiency.

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Five Fintech Trends That Will Shape 2024

Finextra

Navigating the ever-evolving landscape of banking trends amid fierce competition can be daunting. Re.

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Marco Boldini Appointed to Lead TerraPay’s Regulatory Efforts

Fintech News

Payments infrastructure company TerraPay has appointed Marco Boldini as Executive Vice President and Global Head of Policy, Regulatory, and Governmental Affairs. In his new role, Boldini will lead TerraPay’s global regulatory strategy, working alongside both internal teams and external partners to ensure the company adheres to international regulations and standards.

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15 Modern Use Cases for Enterprise Business Intelligence

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?

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Central banks explore tokenisation of cross-border payments

Finextra

A collection of seven central banks are working with the Bank for International Settlements to explore tokenisation of cross-border payments.

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Visa Launches New Service to Simplify Subscription Tracking for Cardholders

Fintech News

Visa has launched its Subscription Manager solution for banks and other financial institutions, enabling them to offer Visa cardholders an easy way to track their all their subscriptions. This move is in response to the burgeoning global subscription market, which is projected to reach US$406 billion by 2025. Visa aims to address the complexities faced by consumers who juggle multiple subscriptions across various platforms, often leading to unnoticed charges due to the intricate terms of service

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Chase launches advertising platform that taps customer spending data

Finextra

JPMorgan Chase has launched a digital media business that lets advertisers use transaction data to target the bank's 80 million customers.

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PayPal pursues pricing power

Payments Dive

The digital payments pioneer aims to increase pricing for its services to boost profitable growth under a new management team.

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eCommerce in 2025: How Customer Experience Drives Online Retail Success

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

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Brim Financial raises $85m for US expansion

Finextra

Toronto-based payment technology firm Brim Financial is targeting the US after raising $85 million in a Series C funding round led by EDC Investments.

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MoneyHero Promotes Shravan Thakur as Chief Commercial Officer

Fintech News

Financial product comparison platform MoneyHero has promoted Shravan Thakur as its Chief Commercial Officer (CCO), effective 20 March 2024. Shravan Thakur As CCO, Thakur is set to lead MoneyHero’s commercial operations across Greater Southeast Asia, aiming to enhance revenue growth, diversify business units, and improve profitability. He will focus on scaling the company’s commercial and analytics departments, leveraging his expertise to develop and implement effective strategies and

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Nationwide branch advert banned as misleading

Finextra

A Nationwide advert has been banned for incorrectly suggesting that the building society has not been closing branches.

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Tan Chong Meng and Geoffrey Wong Join Temasek Board of Directors

Fintech News

Singapore’s sovereign wealth fund Temasek has expanded its Board of Directors with the appointment of two senior business leaders, Tan Chong Meng and Geoffrey Wong. Their inclusion is expected to further enhance the strategic guidance provided to the company’s management. Tan Chong Meng, whose appointment became effective on 1 April 2024, brings a wealth of experience from a distinguished 40-year career.

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7 Essential Criteria for Choosing the Right Payments Partner

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.

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Turkish crypto chief starts 11,196-year prison sentence

Finextra

Faruk Fatih Ozer, the former boss of failed Turkish cryptocurrency exchange Thodex, has started a lengthy jail sentence after he was found guilty of defrauding investors in a multimillion dollar fraud.

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Transactions: Epic River completes integration with Finastra LaserPro

Bank Automation

Lending-as-a-Service platform Epic River has integrated Finastra’s loan documentation system LaserPro into its platform to give customers a place to send the additional borrower information being collected.

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Zilch Selects Checkout.com as Primary Acquiring Partner, Eyeing Further Expansion

The Fintech Times

Zilch , the ad-subsidised payments network (ASPN), has selected Checkout.com , the digital payments solution provider, as its primary acquiring partner globally, with a particular focus on the UK and USA. With its payments network supporting over 145 currencies and domestic acquiring coverage in over 45 markets, Checkout.com will help Zilch continue to offer the fast and reliable high-performance payments its expanding customer base has come to expect from its regulated payment network.

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Citizens streamlines with Blend ahead of falling interest rates

Bank Automation

Citizens Bank is expanding its use of cloud-based banking platform Blend to offer bank customers easier access to credit through the tech provider’s credit card solution.

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Loyalty 101: How To Turn Browsers Into Buyers For Lasting Engagement

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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Guide to Virtual Bookkeeping and Automation

Nanonets

Gone are the days of tedious manual data entry and stacks of paper ledgers. Businesses are now embracing the virtual to streamline their financial management processes. Enter virtual bookkeeping – a paradigm-shifting approach that harnesses the power of digital tools and automation to revolutionize traditional bookkeeping practices. Picture this: a team of expert bookkeepers diligently managing your financial records and transactions without setting foot in your office.

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Fintech Week London Joins Forces With SafeSpace, Ensuring Inclusivity for Attendees

The Fintech Times

As it gears up for another year, Fintech Week London , the premier event celebrating innovation in the fintech industry, is joining forces with SafeSpace Plus , to create a safer and more inclusive environment for its attendees. By partnering with SafeSpace Plus, Fintech Week London hopes to enable comfortable participation for all individuals through a conference-wide Code of Conduct.

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Bancomat and Nexi partner on centralised payments infrastructure

Finextra

Bancomat and Nexi, the European PayTech, have signed a contract for the creation of a new centralized technological infrastructure that will allow BANCOMAT to autonomously manage and optimize the offer of innovative and high value-added payment services.

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American Fintech Council Supports CAFE Fintech Accelerator Programme

The Fintech Times

The American Fintech Council (AFC), the industry association representing responsible fintech companies and innovative banks, is joining forces with the Center for Accelerating Financial Equity (CAFE), which has selected the first cohort of companies in its new fintech accelerator programme. Located at the Fintech Innovation Hub by Delaware Tech Park on the University of Delaware campus, CAFE is a non-profit organisation that advances financial health and wellness for low to moderate-income (LMI

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Enhance Customer Value: Unleash Your Data’s Potential

The complexity of financial data, the need for real-time insight, and the demand for user-friendly visualizations can seem daunting when it comes to analytics - but there is an easier way. With Logi Symphony, we aim to turn these challenges into opportunities. Our platform empowers you to seamlessly integrate advanced data analytics, generative AI, data visualization, and pixel-perfect reporting into your applications, transforming raw data into actionable insights.

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Ecommpay adds Bacs and Sepa Direct Debit capabilities

Finextra

Leading international Payment Service Provider and UK & Europe direct bank card acquirer Ecommpay has launched Direct Debit payments for UK and EU businesses in collaboration with bank payment company GoCardless.

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What is Payment Processing?

Clearly Payments

Payment processing is a critical component of modern commerce, facilitating the secure transfer of funds between buyers and sellers. This article provides an exploration of payment processing, including the definition of payment processing, its historical development, current market landscape, key players , and the intricate mechanisms that underpin its operation.

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Visa launches subscription management tool

Finextra

The global subscription economy is on a steady rise, expected to reach a staggering $406B by 2025. As the trend of consumers subscribing to services in sectors such as retail, food and more increases, so does the challenge of managing their payments.

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Singapore Introduces COSMIC Platform to Combat Financial Crimes

The Fintech Times

The Monetary Authority of Singapore (MAS) has introduced COSMIC, a digital platform aimed at bolstering the global financial system’s defences against money laundering (ML), terrorism financing (TF), and proliferation financing (PF). COSMIC, which stands for ‘Collaborative Sharing of Money Laundering /TF Information and Cases’ serves as a centralised platform facilitating the sharing of customer information among financial institutions.

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Top Strategies to Future-Proof & Sustain Your Merchant Services Portfolio

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.