Wed.Dec 06, 2023

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Navigating the embedded finance revolution: Strategies for simplifying legacy bank technology

Payments Next

By Michael Engel, Managing Director & VP Software | Banking, Diebold Nixdorf The race to seamlessly integrate financial services into everyday consumer The post Navigating the embedded finance revolution: Strategies for simplifying legacy bank technology first appeared on Payments NEXT.

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Addressing Threat Prioritization Challenges Within the Financial Payments Industry

Fintech Weekly

At the recent Payment Card Industry Security Standards Council (PCI SSC) Community Meetings in North America and Europe, the premiere conference for everything related to the payment card and financial payment industry, several topics were top of mind for participants and attendees. For instance, many discussions around emerging payment technologies ease assessment across various PCI standards, as well as conversations about the challenges businesses and assessors face in implementing ongoing ch

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Amex CEO weighs in on Apple card reports

Payments Dive

The card issuer’s premium designation isn’t compatible with all potential card issuing partners, Amex CEO Steve Squeri said Tuesday.

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Request for Comments: Draft PCI 3DS Core Security Standard v2.0 and Draft PCI 3DS Data Matrix v2.0

PCI Security Standards

From 6 December to 19 January 2024, eligible stakeholders are invited to review and provide feedback on the draft PCI 3DS Core Security Standard v2.0 and draft PCI 3DS Data Matrix v2.0 during a 6-week request for comments (RFC) period.

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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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FPC 2024 Fall Member Meeting

Faster Payments Council

Save the date for the FPC Fall 2024 Member Meeting taking place in Denver, CO on September 30-October 1 at the Denver Hyatt Regency Convention Center Hotel.

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Singapore and China to Begin e-CNY Pilot, Explore Cross-Border Payment Linkage

Fintech News

Singapore and China have agreed to collaborate on a pilot programme that uses the e-CNY, China’s central bank digital currency (CBDC), for cross-border transactions. This programme is designed to ease payments for travelers from both countries during their overseas visits. This pilot programme is part of a series of initiatives announced following the 19th Joint Council for Bilateral Cooperation (JCBC) in Tianjin.

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Samsung pushes mobile wallet take-up with Mastercard partnership

Finextra

Samsung is joining Mastercard's new Wallet Express programme, making it easier for banks and card issuers in the UK to offer their customers the electronic giant's own multi-faceted mobile wallet offering.

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AI In Europe: What The AI Act Might Mean

Fintech Weekly

AI regulation might prevent the European Union from competing with the US and China.

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Airwallex Taps Generative AI to Speed Up KYC, Reduces False Positives by 50%

Fintech News

Payments company Airwallex has introduced a generative AI tool to improve its customer onboarding process. The new tool, which utilises large language models (LLMs), aims to expedite the company’s “Know Your Customer” (KYC) assessments. According to Airwallex, the introduction of this generative AI technology has led to a 50 percent decrease in false-positive alerts during the KYC due diligence phase.

AI 115
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What is a Surcharge Fee? How it Helps Consumers and Businesses

Stax

In an era defined by digital transactions and cashless payments, the process of paying for goods and services is more convenient, and increasingly reliant on credit card transactions. However, as the popularity of credit cards and digital wallet payments continues to surge, the costs associated with accepting them also do. Businesses—especially small and medium businesses— continually seek ways to offset these expenses and improve profit margins, leading to the rise of credit card surcharging.

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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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In conversation: The impact of geopolitical tensions on cross-border payments

The Payments Association

Clear Junction CEO Dima Kats sat down with our reporter George Iddenden to discuss how challenges to the cross-border payments sector are becoming bolder with the increase in geopolitical tensions and, contrary to some within the payments space, how he believes the regulatory frameworks offer enough security.

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UK Fintech News Roundup: The Latest Stories 06/12

The Fintech Times

Every Wednesday, we delve into the latest fintech updates from across the UK. This week brings updates from SmartSave, Moneyhub, PayPlan, Littlepay, and Napier. High-street banks leave UK adults short-changed Two-thirds (65 per cent) of UK adults feel that high-street banks have prioritised making profits over passing on higher interest rates to customers in the past 12 months; according to a new survey commissioned by SmartSave , run by Chetwood Financial.

FinTech 105
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Bridging the trust gap in open banking: The role of digital rewards

The Payments Association

Open banking — a promised financial utopia where data flows freely, consumers reign supreme, and businesses can reduce their payment processing fees — but what use is this powerful innovation if you can’t get customers to actually adopt it?

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What Will Be the Top Fintech Trend in 2024? Hint: It’s Not AI.

Finovate

When it comes to predicting the next leap in fintech, you have to risk not only getting things wrong , but also being ok with it. So while I could play it safe and predict that the top fintech trend in 2024 will be AI, or industry consolidation, or even growth in the use of buy now, pay later tools, I’m going to step into less charted territory and say that the 2024 fintech buzzword will be quantum computing.

AI 104
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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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Cassandra Goh Set to Lead Silverlake Axis as New Group CEO in 2025

Fintech News

Silverlake Axis, a Singapore-mainboard listed fintech and digital banking solutions provider, has announced a major leadership change. Cassandra Goh Shiou Ling, currently the Deputy Executive Chairman of Silverlake Axis , is set to become the new Group CEO on 1 January 2025. This move comes as part of a transition process, following the decision of Andrew Tan Teik Wei to step down from his role as the current Group CEO at that time.

FinTech 109
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Undetectable Scams: How the Combination of Deepfakes and Large Language Models Will Change the Game

BioCatch

Criminals aren’t slouches when it comes to technology – quite the contrary. Just because they chose a life of crime doesn’t make them inherently lazy. In fact, they’ve demonstrated a level of creativity and problem solving that has made digitally enabled crimes, such as scams, harder and harder to stop. And with the advent of consumer-ready artificial intelligence applications that can be used to create near perfect imitations of trusted people and organizations, scams are about to evolve to a p

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Beyond Onboarding: Maximising Customer Value through Risk Decisioning in APAC

Fintech News

Discussions about risk decisioning platforms often center around onboarding and loan origination. However, investing at the start of the journey is just one aspect of the puzzle. Growth relies not only on attracting new customers but also on maximising the value of existing ones. While sophisticated, automated onboarding/origination solutions are crucial, it’s equally vital to focus on the tools used for the entire decision-making process.

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Wert and Ancillary Service Provider, Avata, to Enable Warranty On NFT Purchases

Fintech Finance

Wert , the payment solution provider enabling fiat payments in Web3, today announced their partnership with Avata , an InsurTech service provider and expert in digital asset insurance solutions, to offer customers first-of-its-kind protection for consumers purchasing NFTs on platforms leveraging Wert’s checkout solution. The opt-in warranty option backed by insurance-on-blockchain pioneer YAS ensures customers that the value of their digital assets are protected in case of potential losses and w

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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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Beyond Queries: How ChatGPT in Banking Unleashes Innovation

Fintech News

Financial services companies are increasingly taking advantage of ChatGPT and similar solutions. These technologies allow for the easy integration of corporate data into AI assistants, enhancing the utility of large language models (LLMs) for various applications. While consumers are rapidly adopting AI-powered LLMs, banks are proceeding with caution, mindful of data security.

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PayPal taps Fiserv exec for top new post

Payments Dive

PayPal’s new CEO is making executive suite changes, creating a president of global markets post and tapping a payments industry veteran for the role.

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How Financial Institutions?Can Navigate the ‘Operational Resilience' imperative

Finextra

Whether your source of news is the FT, the BBC or the Daily Mail, headlines of data related business.

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MAS Unveils Code of Conduct to Bolster Confidence in ESG Ratings and Data

Fintech News

The Monetary Authority of Singapore (MAS) has released its comprehensive Code of Conduct (CoC) for Environmental, Social, and Governance (ESG) rating and data product providers. This release, accompanied by a self-attestation checklist , marks the culmination of a public consultation process that spanned from June to August 2023. The CoC is designed to set baseline industry standards focusing on transparency in methodologies and data sources, governance, and management of conflicts of interest.

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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.

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Embedded Wealth - The Future of Investment

Fintech Weekly

Embedded Finance is transforming the way financial services are delivered to customers. In recent years, embedded finance has allowed non-financial suppliers to effortlessly integrate financial products into their client journeys, increasing the influence of fintech in our lives.

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Judge Accepts Guilty Plea from Binance’s Former CEO Changpeng Zhao

Fintech News

Seattle’s U.S. District Court Judge Richard Jones has accepted a guilty plea for money laundering from crypto exchange Binance’s former CEO Changpeng Zhao (CZ). The sentencing for CZ is scheduled for 23 February 2024 where he could face up to 18 months in prison. He has been released on a US$175 million bond which could have allowed him to return to the UAE where he resides.

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Building Financial Mobile App At Scale With React Native

Fintech Weekly

With the increasing usage of smartphones, mobile applications are playing a critical role in the growth and success of businesses around the world. Mobiles are now becoming virtual assistants for people. So, applications help out people with their daily activities like ordering food, cab, or tracking their health. The finance sector is not left behind.

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Taking applications for Bank Automation Summit U.S. 2024 demo challenge

Bank Automation

Bank Automation News is pleased to announce that applications are now being accepted for the AI in Action Demo Challenge, which will take place at Bank Automation Summit U.S. 2024 on March 19 in Nashville, Tenn.

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Deliver Mission Critical Insights in Real Time with Data & Analytics

In the fast-moving manufacturing sector, delivering mission-critical data insights to empower your end users or customers can be a challenge. Traditional BI tools can be cumbersome and difficult to integrate - but it doesn't have to be this way. Logi Symphony offers a powerful and user-friendly solution, allowing you to seamlessly embed self-service analytics, generative AI, data visualization, and pixel-perfect reporting directly into your applications.

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AI Ethics: Why It’s Important, Now, To Work On Ethical AI

Fintech Weekly

AI ethics is a pivotal topic to assess the future possible developments of artificial intelligence. A responsible use of artificial intelligence is the key to safety.

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HSBC trials quantum protection for AI-powered FX trading

Finextra

HSBC has piloted the use of quantum key encryption to protect client FX trading data from the threat of increasingly powerful cyber attacks.

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Top 12 CeFi Lawsuits of 2022 – The Many Ways CeFi Broke

Fintech Weekly

2022 wasn't a great year for CeFi, and 2023 doesn't seem to be more promising. We analyzed the top CeFi lawsuits of 2022 - and their repercussions.

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Transactions: Citi taps Traydstream for document processing

Bank Automation

Citibank is looking to reduce manual processing risk and costs by utilizing document processing company, Traydstream to automate document information processing and document creation.

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Secure SaaS Success: Embedded Finance as a Competitive Advantage

Speaker: Ian Hillis, SVP of Growth at Payrix and Worldpay for Platforms

Join us for an exclusive webinar hosted by Ian Hillis, SVP of Growth at Payrix and Worldpay for Platforms, where he’ll explore the significant impact of embedded finance on the software industry! This session is designed to provide you with the strategic insights needed to navigate the future of SaaS successfully, all while gaining a deeper understanding of how these trends can enhance your competitive edge, boost revenue, and deepen customer loyalty.