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.
PCI Security Standards
OCTOBER 22, 2024
Welcome Concentrix, a new Principal Participating Organization (PPO) at the PCI Security Standards Council! In this special spotlight edition of our PCI Perspectives Blog, Concentrix’s Global Vice President, Rishi Rajpal, introduces us to his company and how they are helping to shape the future of payment security.
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.
Fintech News
OCTOBER 22, 2024
In Asia-Pacific (APAC), fraud is becoming an increasingly serious challenge for financial institutions, an issue that has been exacerbated by the rapid adoption of digital transactions and online banking. To address these risks, financial institutions in the region are adopting new security measures and embracing cutting-edge technologies, a new research by NICE Actimize found.
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
Finextra
OCTOBER 22, 2024
Consumers in the US will be given the right to instruct their banks to transfer their financial data to other institutions, under new open banking rules devised by the Consumer Financial Protection Bureau.
Fintech News
OCTOBER 22, 2024
HSBC Holdings’ new CEO, Georges Elhedery, has introduced the most extensive restructuring of the bank in over a decade, aimed at streamlining operations and addressing cost pressures. The plan merges HSBC’s global commercial and institutional banking operations and establishes a new international wealth and premier banking division. In addition, the bank is reorganising its regional structure, splitting its operations into two primary units: one focused on Asia-Pacific and the Middle East, and t
Payments Space brings together the best content for payment processing professionals from the widest variety of industry thought leaders.
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
The Payments Association
OCTOBER 22, 2024
Payment institutions, e-money institutions and credit unions that issue e-money (together, “Payments Firms”) are required to protect funds received in connection with making a payment or in exchange for e-money issued through safeguarding (“Relevant Funds”). This is a different approach from banks, the deposits of which are covered by the Financial Services Compensation Scheme (FSCS).
Fintech News
OCTOBER 22, 2024
11 fintech startups from Singapore have been recognized in the inaugural NextGen Tech 30, a prestigious award celebrating Southeast Asia’s most promising high-growth technology companies. NextGen Tech 30 is said to be the first public-private initiative in the Association of Southeast Asian Nations (ASEAN) dedicated to identifying and supporting the top 30 up-and-coming growth-stage companies that are driving innovation and economic transformation across the region.
The Payments Association
OCTOBER 22, 2024
Following the 2021 Woolard Review on the regulation of buy-now-pay-later (BNPL) products, HM Treasury has published its consultation on the draft legislation that will bring these easily available interest-free products within the regulatory perimeter. As expected, the proposal is for the BNPL regime to be lighter and less prescriptive than that in place for other types of regulated credit.
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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 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.
The Payments Association
OCTOBER 22, 2024
On November 1 DTB formally launches instant FX trading for iFAST GB Business clients. Clients can receive cleared funds in as little as one minute post-trade, creating significant efficiencies and cost savings. Robert Turner-Kerr, senior relationship manager and business lead for the project at iFAST Global Bank, says: “EMIs and regulated firms holding client funds often need to wait days for FX to settle.
Finextra
OCTOBER 22, 2024
Nium, the leading global infrastructure for real-time cross-border payments, is thrilled to announce its strategic partnership with Doha Bank, a premier financial institution in Qatar.
The Payments Association
OCTOBER 22, 2024
Gladius Assurance has launched a dedicated Safeguarding microsite to support firms with the FCA’s Consultation Paper 24/20. The consultation proposed sweeping changes to the Safeguarding Regime that would have a multi-year impact on Payments and E-Money Firms. The microsite contains an interactive dashboard that allows users to easily navigate through each of the CASS 15 sections, subheadings, and a quick comparison between the Interim and Final End State Rules, thereby saving time and eff
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
Finextra
OCTOBER 22, 2024
At Sibos 2024, Sergey Nazarov, Co-Founder of Chainlink, highlighted the growing adoption of blockchain technology by asset managers, driven by efficiency gains in settlement, payments, and collateral management. Nazarov announced the launch of two key privacy-focused tools: the Blockchain Privacy Manager and CCIP Private Transactions, designed to ensure secure, private transactions across multiple blockchains.
The Payments Association
OCTOBER 22, 2024
What is this article about? The FCA’s Consumer Duty and how payments firms must prioritise consumer outcomes in their operations. Why is it important? It represents a major regulatory shift, requiring firms to enhance governance, fair value assessments, and customer support, with significant compliance challenges. What’s next? Payments firms need to close compliance gaps, continuously monitor outcomes, and adapt their strategies, while seeking clearer guidance from the FCA to navigat
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.
The Payments Association
OCTOBER 22, 2024
What is this article about? New UK regulations requiring payment firms to refund fraud victims up to £85,000 within five days Why is it important? It aims to protect consumers from authorised push payment (APP) fraud but raises concerns about the adequacy of protection for larger fraud cases. What’s next? Financial institutions must adopt AI-driven solutions and collaborate closely to proactively combat evolving fraud threats.
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.
Finextra
OCTOBER 22, 2024
HSBC has launched a new cross-border virtual account proposition for banks worldwide, enabling their merchant business customers trading on e-commerce sites to receive EUR and GBP payments via their local bank account.
Fintech Finance
OCTOBER 22, 2024
Thunes , the Smart Superhighway to move money around the world, today announced the launch of its revolutionary QR Code Payments solution. This innovation allows Members of the Thunes’ Direct Global Network – including mobile wallets, neo-banks, and banks with mobile capabilities – to connect directly to China’s QR code payment systems operated by the Digital Currency Institute (DCI) and NetsUnion Clearing Corporation (NUCC).
Payments Dive
OCTOBER 22, 2024
In a change from last year’s proposal, payment apps are included under the rule. Financial institutions with less than $850 million in assets are exempt.
Fintech Finance
OCTOBER 22, 2024
HSBC have launched a new cross border e-commerce payment solution for banks worldwide, enabling their merchant business customers trading on e-commerce sites to seamlessly receive EUR and GBP payments via their local bank account. Prior to HSBC’s introduction of this virtual account solution, businesses in certain jurisdictions were only able to access EUR and GBP funds using cross-border payments at greater cost to e-marketplace platforms and merchants, due to additional fees and FX rates.
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.
TechCrunch Fintech
OCTOBER 22, 2024
Interface.ai, a customer automation platform for banks and other financial institutions, today announced that it closed a $30 million funding round led by Avataar Venture Partners. $20 million of the round was equity, while the remaining $10 million was in the form of debt. It’s Interface’s first outside capital; the startup had been completely bootstrapped. […] © 2024 TechCrunch.
Fintech Finance
OCTOBER 22, 2024
Nium , the leading global infrastructure for real-time cross-border payments, is thrilled to announce its strategic partnership with Doha Bank , a premier financial institution in Qatar. This collaboration marks Nium’s inaugural partnership in Qatar, underscoring its commitment to revolutionizing the landscape of international payments. Central to this collaboration is the commitment to offer fast, reliable, and cost-effective remittance services to residents of Qatar.
Finextra
OCTOBER 22, 2024
Business finance platform Tide has acquired UK payroll provider for SMEs Onfolk. Terms of the deal have not been disclosed.
Fintech Finance
OCTOBER 22, 2024
MeaWallet , a leading digital payments enabler specialising in card tokenization, proudly announces its partnership with Toqio , a leading technology platform for B2B embedded finance for businesses, to enhance its digital card capabilities for corporate customers in the UK and Spain. The partnership enables Toqio to expand its tokenisation services and integrate push provisioning technology into its card offering, meaning its corporate customers in the UK and Spain can now adopt and distribute
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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.
Finextra
OCTOBER 22, 2024
A banking loophole leaving account holders vulnerable to fraud can be closed by a groundbreaking development merging open banking with Direct Debit sign up.
Fintech Finance
OCTOBER 22, 2024
Temenos today launched a SaaS enterprise service for cross border payments, empowering Payment Service Providers (PSPs), including banks, electronic money institutions (EMIs) and fintechs, to swiftly launch and lower the cost of cross border payment services. Temenos Cross Border Payments Enterprise Service is for any organization currently supporting or seeking to support cross border payment flows.
Basis Theory
OCTOBER 22, 2024
Understanding the different PCI compliance levels is the first step to reducing the challenges they might bring to your organization.
Fintech Finance
OCTOBER 22, 2024
TBC Bank Uzbekistan (TBC UZ), the country’s largest mobile-only bank, announces its long-term strategic partnership with Visa, set to broaden and expand its global payments and money transfers infrastructure. TBC UZ is part of TBC Uzbekistan, a leading digital banking ecosystem in Central Asia serving 16 million unique registered users. This collaboration with Visa lays the groundwork for introducing Visa cards and additional payment solutions via Visa Direct, a payments platform enabling fast
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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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