Payments Dive

JULY 31, 2024

Generative AI could help spot fraudulent patterns in transaction data and reduce the cost of processing payments, says a McKinsey consultant.

Fraud Prevention 192

Fraud Prevention Consulting Payments AI 192

Fintech News

JULY 31, 2024

Digital banking software provider Backbase has launched its first global Center of Excellence (COE) for Artificial Intelligence (AI) in Ho Chi Minh City, Vietnam. The COE, led by Backbase’s Head of AI Chris Shayan, will focus on developing AI solutions to enhance customer engagement and business outcomes in the banking sector. Located near Saigon Center in District 1, the COE will host a team of engineers specialising in web, mobile, backend, AI, and machine learning, and large language mo

AI 118

AI Industry Trends Innovation FinTech 118

Payments Dive

JULY 31, 2024

Slowing card volume growth in the network giant’s earnings report this month revived questions about the longevity of its core business.

Volume 158

Volume 158

Finextra

JULY 31, 2024

SIX Swiss Exchange is to resume trading from 14.30 after technical problems forced the market operator to twice suspended trading in stocks, bonds, and exchange-traded funds.

110

110

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

Payments

The Fintech Times

JULY 31, 2024

Organisations are becoming increasingly aware of sustainable practices and want to show their support in the climate crisis. Looking to make renewable energy initiatives more accessible and to scale them faster, the Global Climate Finance Centre (GCFC), an independent entity focused on catalysing climate investments and solutions across the globe, and the International Renewable Energy Agency (IRENA), the intergovernmental agency for the renewables-based energy transition, have announced a new p

Finance 110

Finance Innovation Research Addressing 110

National Processing

JULY 31, 2024

National Processing Understanding the Cash Discount Program By offering a cash discount to consumers who pay with cash, merchants can completely remove their processing costs.

Processing Costs 88

Processing Costs Process Posting Consumer 88

Fintech News

JULY 31, 2024

The banking industry is undergoing a rapid transformation, driven by technological advancements and changing customer expectations. While many banks have embarked on digital transformation journeys, a common misconception persists: that transformation is a one-time event with a clear endpoint. The reality is far more complex. The competitive landscape, marked by the rise of neobanks and fintech disruptors, necessitates continuous innovation and adaptation.

Process 109

Process On-Demand Procedures Innovation 109

Fintech Finance

JULY 31, 2024

Visa , a world leader in digital payments, is introducing resources to help merchants in Vietnam, unveiling a SMB Online Toolkit, for small and medium-sized businesses to accept and take full advantage of Visa’s digital payment solutions. This is part of Visa’s commitment to empower Vietnamese SMBs and boost the national economy, by accelerating their contactless payment acceptance.

Contactless Payments 98

Contactless Payments Online and Mobile Banking Payments On-Demand 98

Payments Dive

JULY 31, 2024

Just Walk Out is rolling out an advanced AI model that the company says will make its system more accurate and efficient and less costly to implement.

AI 88

AI 88

Finextra

JULY 31, 2024

In a move to help stop bank impersonation scams, Westpac has teamed with telco Optus to introduce a new verified in-app calling capability.

Scams 105

Scams 105

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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

Payments Dive

JULY 31, 2024

When it comes to innovation, “if it's moving too quickly for customer protection to keep pace, it’s not happening,” said Sibongile Ngako, who recently joined the fintech as chief compliance officer.

Compliance 78

Compliance Innovation FinTech 78

Fintech Finance

JULY 31, 2024

STICPAY , a leading global e-wallet service provider and payment gateway, today announces the integration of Visa and Mastercard debit and credit card payment processing into its platform, affording it’s more than 5,000 merchant and corporate clients greater flexibility and convenience in handling payments. The new service enables merchants who don’t have the infrastructure to process Visa and Mastercard payments on their website to now do so, simply by integrating the STICPAY API.

Payment APIs and Integration 96

Payment APIs and Integration Credit Card Payment Processing Credit Cards Alternative Payment Methods 96

Finextra

JULY 31, 2024

The Bank of England and the BIS Innovation Hub have developed a system that gives supervisors near real time data about stablecoins' liabilities and their backing assets.

Stablecoins 86

Stablecoins Near Real-Time Innovation 86

The Fintech Times

JULY 31, 2024

Cryptocurrency scams have cost users well over $20billion in the last few years, with rug-pulling scams seriously impacting the credibility of the digital asset ecosystem. However, scams are unfortunately an inevitable part of any financial ecosystem – the key is limiting them and helping victims recover. This is what Xerberus , a cryptocurrency risk rating protocol is doing as it launches Siren, its crypto scam recovery tool.

Scams 84

Scams Cryptocurrency Legal Laws 84

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

Bank Automation

JULY 31, 2024

HSBC continued to invest in digitalizing its retail and transaction banking businesses in the first half of 2024. “The steps we’ve taken to change our retail business model and our continued investment in people and digitization have made wealth a key driver of revenue growth,” Chief Executive Noel Quinn said during today’s H1 earnings call.

Transactions 78

Transactions Continuity 78

Fintech News

JULY 31, 2024

Hawk, a provider of AI-driven fraud prevention and anti-money laundering (AML) technology, has secured additional Series B funding with Macquarie Capital. Macquarie Capital joines Hawks’ existing investor group, which includes Rabobank , BlackFin Capital Partners, Sands Capital, DN, Picus, and Coalition. This new funding aims to enhance Hawk’s international growth as demand for its AI-powered anti-financial crime technology continues to rise.

AI 88

AI Financial Crimes Fraud Prevention AML 88

Bank Automation

JULY 31, 2024

Paris-based BNP Paribas is working with telecom service provider Orange to provide its 21.8 million customers with personal financing solutions, according to a June 26 release. The “tailored financing” will provide customers with loans up to 3,000 euros ($3,200) to buy mobile phones, according to the release.

Finance 78

Finance Transactions Service Provider 78

Finextra

JULY 31, 2024

Early-stage FinTech VC fund, Cedar-IBSi Capital, has announced its first investment in Cogniquest, an AI-ML Intelligent Document Processing company that is seeking to focus on document automation for Financial Services institutions.

FinTech 64

FinTech AI Automation Process 64

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

The Fintech Times

JULY 31, 2024

Now encapsulating a focus on societal impact and the environment, the term ‘fintech for good’ has evolved from its initial meaning of charity. But it doesn’t stop there. This July, we are on the hunt to find out how the fintech industry is doing ‘good’ for local communities and the world, revealing current and future plans to make change. Bringing a close to our monthly ‘fintech for good’ theme and our focus on impact platforms, we finally take a look at regulatory hurdles faced by t

Compliance 64

Compliance AML Regulations Due Diligence 64

Finextra

JULY 31, 2024

Police and banking authorities in Singapore are warning people to beware of a sophisticated impersonation scam that netted crooks $10.6 million in June alone.

Scams 69

Scams Authorization 69

The Fintech Times

JULY 31, 2024

Now encapsulating a focus on societal impact and the environment, the term ‘fintech for good’ has evolved from its initial meaning of charity. But it doesn’t stop there. This July, we are on the hunt to find out how the fintech industry is doing ‘good’ for local communities and the world, revealing current and future plans to make change. As we conclude our ‘fintech for good’ focus at The Fintech Times, we reflect on how organisations are making a difference.

FinTech 64

FinTech On-Demand Consulting Product 64

NACHA

JULY 31, 2024

RESTON, Virginia, Aug. 1, 2024 – Four new categories of Nacha Preferred Partners were unveiled today, doubling the number of categories available for organizations to showcase their leadership in the ACH Network. Nacha Preferred Partners offer products and services that align with Nacha’s core strategies to advance the modern ACH Network.

NACHA 62

NACHA ACH Network ACH Product 62

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.

Continuity

Finextra

JULY 31, 2024

Nium, the global leader in real-time cross-border payments, today announced the expansion of its local funding and collection capabilities to more than 40 countries and 15 currencies, with more to come.

Cross-Border Payments 59

Cross-Border Payments Cross-Border Payment Networks Payments 59

PayXpert

JULY 31, 2024

Maintaining a high acceptance rate during transaction processing is crucial for merchants working with a subscription model. Not only does it optimise revenue generation, but it also fosters positive relationships with acquirers and payment schemes. Here’s a closer look at why a high acceptance rate matters and how to achieve it.

Best Practices 59

Best Practices Acquirers Transactions Process 59

Finextra

JULY 31, 2024

The European Banking Authority (EBA) today launched a public consultation on its draft Implementing Technical Standards (ITS) for uniform reporting templates in relation to the level of charges for credit transfers and share of rejected transactions under SEPA Regulation.

Consulting 59

Consulting Regulations Authorization Transactions 59

The Fintech Times

JULY 31, 2024

ZestyAI , a climate and property risk analytics solutions provider, is expanding its existing partnership with Amica Mutual Insurance , enabling the insurance firm to leverage ZestyAI’s full property and climate risk analytics platform. As natural catastrophes, including wildfires and convective storms, become more frequent and severe, insurers are looking for new ways to accurately predict and proactively address the growing threat of climate risk.

Risk 59

Risk AI Risk Assessment Assessments 59

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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.

AI

Finextra

JULY 31, 2024

First Abu Dhabi Bank (FAB) and Fenergo announced their partnership in June of 2024 to speed up client onboarding and enhance anti-money laundering (AML) compliance processes for the bank with Client Lifecycle Management (CLM).

Money Laundering 59

Money Laundering AML Compliance Process 59

The Fintech Times

JULY 31, 2024

SDK.finance , a white-label Lithuanian fintech platform for digital payments, has partnered with Salt Edge , the open banking solution provider, aiming to help fintechs of all sizes develop open banking-enabled financial services and applications. By leveraging Salt Edge’s Partner API, SDK.finance will enable customers without an Account Information Service Provider (AISP) licence to access bank account information easily, removing various regulatory complexities and hurdles.

Payment APIs and Integration 59

Payment APIs and Integration FinTech Financial Inclusion Payment Initiation 59

Finextra

JULY 31, 2024

Sygnum, a global digital asset banking group with ~$4.5 billion in client assets, today reported that it has reached profitability following a strong H1 2024, with key metrics seeing substantial growth year-to-date (YTD).

Posting 59

Posting 59

The Fintech Times

JULY 31, 2024

India has firmly established itself as a global leader with the digitalisation of its financial sector, according to the latest report by the Reserve Bank of India (RBI). The RBI report highlights that India is leading the way when it comes to real-time payments, boasting a share of 48.5 per cent of the global real-time payments volume. It also estimates that global remittances increased to around $857.3billion in 2023, led by India with $115.3billion (equating to around 13.4 per cent).

Real Time Payments 59

Real Time Payments Cross-Border Volume Financial Inclusion 59

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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