Finextra
AUGUST 14, 2024
Apple is opening up the NFC chip technology that enables iPhone users to make contactless payments to third-party providers in a host of countries - including the US and UK - but will charge associated fees.
Fintech News
AUGUST 14, 2024
UOB is set to relocate certain back and middle-office operations to Malaysia, primarily in Kuala Lumpur, according to The Business Times. Lee Wai Fai This strategic move aims to maintain the bank’s cost-to-income ratio at 40% by 2026, according to Group Chief Financial Officer Lee Wai Fai. This relocation, coupled with anticipated growth across ASEAN and a greater focus on non-interest income, is expected to help UOB sustain its return on equity (ROE) at approximately 14% by 2026.
The Payments Association
AUGUST 14, 2024
The adoption of ISO 20022, a global standard for financial messaging, is progressing but facing challenges, especially for traditional banks with outdated systems. With a looming March 2025 deadline in Europe, banks must quickly adapt or risk non-compliance. Partnering with compliant payment processing providers offers a strategic advantage, enabling banks to focus on innovation while ensuring compliance.
Finextra
AUGUST 14, 2024
Responding to a call from the US Treasury, the Consumer Financial Protection Bureau (CFPB) and the American Fintech Council (AFC) have both weighed in on the use of AI in financial services.
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
The Fintech Times
AUGUST 14, 2024
Al Fardan Exchange, a financial services provider in the UAE, has partnered with the Dubai AI & Web3 Festival 2024 reflecting its commitment to advancing AI integration within the financial sector as well as supporting the UAE’s vision for a digitally advanced economy. Dubai AI & Web3 Festival , organised by the Dubai AI Campus in strategic partnership with DIFC and the Minister of State for Artificial Intelligence, Digital Economy & Remote Work Applications Office , takes plac
The Payments Association
AUGUST 14, 2024
Regulatory changes in BNPL, cVRPs, and digital wallets aim to boost e-commerce innovation and competition while safeguarding consumer protection and market stability.
Payments Space brings together the best content for payment processing professionals from the widest variety of industry thought leaders.
Fintech News
AUGUST 14, 2024
DCS Innov, a subsidiary of DCS Fintech Holdings, has acquired HolyWally , a Wallet-as-a-Service (WaaS) platform provider. This acquisition supports DCS Innov ’s expansion into the US and European markets. Before the acquisition, HolyWally selected to deliver a WaaS solution that integrates core payment services from DCS Card Centre, including cards, virtual bank accounts, and Web3 payments via DCS Tokens.
Fintech Finance
AUGUST 14, 2024
DBS has announced the pilot launch of DBS Treasury Tokens, a next-generation treasury and liquidity management solution, in collaboration with Ant International. Ant International will be able to use the digital form factor to achieve instant, multi-currency treasury and liquidity management on DBS’ permissioned blockchain for their entities across multiple markets.
Payments Dive
AUGUST 14, 2024
The Consumer Financial Protection Bureau’s earned wage access rule “could outright deny EWA to the wage earners who need it the most,” writes a trade group CEO.
Fintech News
AUGUST 14, 2024
Standard Chartered has announced an update to its group management team, with Alex Manson , CEO of SC Ventures, joining the team effective immediately. Alex Manson Manson had set up SC Ventures in 2018, and under his leadership, it has become Standard Chartered’s innovation, fintech investment, and ventures arm, driving the bank’s digital transformation and innovation efforts.
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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?
Fintech Finance
AUGUST 14, 2024
Paddle , the payments infrastructure provider, has today opened applications for its third AI Launchpad, offering 75 ambitious AI founders the chance to participate in a 6-week program to help them build, launch and scale their AI-powered business ideas. The potential for AI startups is huge, with generative AI startups globally raising more than $25 billion in funding in 2023, a figure that is predicted to rise to around $45 billion this year.
Fintech News
AUGUST 14, 2024
The Monetary Authority of Singapore (MAS) has joined forces with DBS, HSBC, OCBC, UOB, SPTel, and SpeQtral to explore quantum security solutions for the financial sector. The collaboration, formalised through a Memorandum of Understanding (MoU) signed on 14 August 2024, aims to study the application of Quantum Key Distribution (QKD) in financial services.
Fintech Finance
AUGUST 14, 2024
TransUnion , a global information and insights company, and receeve, an all-in-one platform for collections and recovery, proudly announce a strategic partnership to deliver increased collections autonomy and profitability through AI-powered insights and strategy optimisation, all seamlessly integrated into the receeve platform. The collaboration represents a significant moment in the collections industry, as both entities leverage technology and expertise in credit data and services.
Bank Automation
AUGUST 14, 2024
Vantage Bank has selected digital banking service provider Unit to improve its core digital banking offerings and provide embedded finance capabilities. Community banks don’t have the resources to execute rapid, high-quality digital transformations which has seen their share of the U.S.
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
Fintech Finance
AUGUST 14, 2024
Network for Electronic Transfers (NETS) , Singapore’s leading payment services group, has launched NETS SoftPOS, a terminal-less payment solution for swifter, seamless and more cost-efficient payment transactions. Merchants can now download the NETS SoftPOS app from the Google Play Store and use their Android smart devices as payment terminals to accept contactless payments.
Finextra
AUGUST 14, 2024
Crooks are circulating AI-generated deepfake videos of Prince William and UK prime minister Keir Starmer on Facebook and Instagram to dupe viewers into scam cryptocurrency investments.
Fintech Finance
AUGUST 14, 2024
TaluCard , in collaboration with IDEX Biometrics and a London based issuer is launching its state-of-the-art biometric payment solution. This groundbreaking initiative is set to transform payment solutions with a strong focus on accessibility and security for all users, including those with visual impairments and members of the aging community. TaluCard features fingerprint authentication and enhanced security as only the authorised, registered user can make transactions.
Bank Automation
AUGUST 14, 2024
London-based Barclays bank and Amazon have come together to launch a co-branded card in the United Kingdom: Amazon Barclaycard. “We’ve launched this card for anyone who loves to shop at Amazon and wants to be rewarded for doing so on their everyday spend,” a Barclays spokesperson told Bank Automation News.
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.
Fintech Finance
AUGUST 14, 2024
Over half of consumers worldwide (56%) have changed their spending habits from a year ago, not only becoming more price conscious but demanding payment choice, from debit cards and bank transfers to digital wallets and cash, according to new research from Paysafe (NYSE: PSFE), a global payment processor and digital wallet provider. According to Paysafe’s report, ‘Inside the Wallet: How consumers are spending and saving in 2024’, 43% of consumers have abandoned their online shopping cart if a bus
Fintech News
AUGUST 14, 2024
Prudential has announced an expanded strategic partnership with Google Cloud to introduce AI-driven products and applications aimed at enhancing experiences for customers, agents, and employees. This collaboration will support the launch of Prudential’s new AI Lab, which will initially focus on improving healthcare access and operational efficiency.
Fintech Finance
AUGUST 14, 2024
Leading Pan African innovator in secure and seamless payment solutions, SeerBit and Kuda , a digital bank renowned for its commitment to financial inclusion, has announced a strategic partnership with to boost the reliability and convenience of online payment for businesses and other users. The partnership enables millions of Kuda retail customers to make seamless payments on SeerBit’s checkout platform without inputting their card details, further assuring the security of their transactions.
Bank Automation
AUGUST 14, 2024
TD Bank will launch a data-driven small-business insights dashboard in October. Built with insights engine Monit, the dashboard will enable small-business customers to connect their accounting platforms within their banking portal with cash flow forecast insights, Paul Margarites, head of commercial digital platforms at TD Bank, told Bank Automation News.
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.
Fintech Finance
AUGUST 14, 2024
Leading financial services business Cardstream and multichannel payments provider PayPoint Plc (PayPoint) have officially announced their collaboration. The powerful partnership sees PayPoint integrating Cardstream’s Gateway Connectivity into their MultiPay digital payments platform, which will allow it to continue to build a robust and scalable solution for clients.
The Fintech Times
AUGUST 14, 2024
A new report from Visa has revealed why generative AI is booming in Singapore and how consumers are using the tech. In its Visa Consumer Payment Attitudes Study, Visa found that consumers are becoming increasingly aware of the potential of generative AI (gen AI). This was especially the case for Gen Z consumers, those aged 18-23 years old. Eighty-four per cent are aware of gen AI and its potential applications.
Finextra
AUGUST 14, 2024
Singapore's DBS is collaborating with Ant International on a blockchain-based tokenization project for 24/7 intra-group treasury and liquidity management.
The Fintech Times
AUGUST 14, 2024
Generative AI, when used correctly, can be a great tool that aids innovation. In the wrong hands, however, it can be incredibly harmful, especially with the emergence of deepfakes. A new survey from iProov , the biometric solutions provider, has revealed the attitudes on the threat of generative AI and deepfakes across the UK, US, Brazil, Australia, New Zealand and Singapore.
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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.
Bank Automation
AUGUST 14, 2024
AI-based financier Pagaya Technologies plans to expand its new relationship with subprime auto lender OneMain Financial to an enterprise agreement as Pagaya eyes continued growth and gears up to add counteroffers and refinance options for consumers.
Finextra
AUGUST 14, 2024
Last month, the European Commission (EC) adopted a Delegated Act (DA) to postpone the application da.
The Fintech Times
AUGUST 14, 2024
Artificial intelligence (AI) has taken the financial world by storm in the last few years and has quickly found its way into every business and sub-sector there is. Perhaps unsurprisingly, regulations can struggle to keep up – leading to fresh calls for enhanced regulatory clarity regarding AI. The American Fintech Council , the industry association representing responsible fintech firms and banks, has recommended a number of measures to develop a pragmatic regulatory framework for AI to
Finextra
AUGUST 14, 2024
As more people use smartphones and other mobile devices to conduct their daily lives, mobile paymen.
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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.
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