Wed.Sep 18, 2024

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Fed payments proposal pits big banks against small rivals

Payments Dive

The Federal Reserve’s proposal to extend the operating hours of two interbank payments systems has been welcomed by large banks, but panned by many small financial institutions.

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Drive results, recover revenue with zero-touch fraud resolution

The Payments Association

Struggling with rising fraud cases and outdated banking systems? Discover how cutting-edge AI-powered solutions like Rivero’s Amiko Virtual Agent are transforming dispute management, slashing costs, and boosting fraud recovery efficiency—all while improving the customer experience. Ready to future-proof your fraud strategy? Dive in to learn more!

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OCBC Invests S$500 Million in Punggol Digital District to Focus on Tech, Talent

Fintech News

OCBC Bank announced an investment of S$500 million in Punggol Digital District (PDD). This investment includes a new 430,000 square-foot innovation hub, OCBC Punggol, and a multi-million-dollar strategic partnership with the Singapore Institute of Technology (SIT). OCBC Punggol, slated for completion in the first quarter of 2027, will house up to 4,000 employees, primarily from the bank’s technology workforce, focusing on emerging technologies like quantum computing and mixed reality.

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FICO and Jersey Telecom Collaborate to Tackle Authorised Push Payment Fraud

Fintech Finance

In the fight against the growing problem of financial scams, global analytics software leader FICO has collaborated with Jersey Telecom (JT) to develop a powerful solution that enables direct, near real-time intervention to protect customers. FICO and JT worked with leading UK banks to identify the most relevant telephony signals that indicate an active scam.

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How To Drive Retail Results With Integrated Tech And UX Design

Speaker: Jennifer Wright and Nick Barron

Navigating the complexities of e-commerce requires more than just the right technology - It demands a holistic strategy that aligns platform capabilities with customer- centric design and marketing. This webinar will provide a roadmap for building a robust e-commerce strategy, guiding you through key decisions from platform selection to creating user experiences that convert, and leverage digital marketing to reach and retail customers.

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CFPB takes aim at ATM, debit card fees

Payments Dive

Regulators should assume, as a default, that customers have not agreed to coverage and fees unless banks can provide signed agreements or recorded conversations, the agency said in a policy reminder.

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Mangopay Announces Sergi Herrero as New CEO

Fintech Finance

Mangopay , a modular and flexible payment infrastructure provider for platforms which was acquired by Advent International in 2022, today announces the appointment of fintech industry leader Sergi Herrero as Chief Executive Officer. Sergi succeeds Romain Mazeries who is stepping down from his role. Throughout his career, Sergi has earned a strong reputation as a results-focused leader who brings both payments domain expertise and proven CEO capabilities.

More Trending

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Checkout.com Announces Partnership With Slope to Enhance Payment Performance for US Enterprise Merchants

Fintech Finance

Checkout.com , a leading global digital payments provider, and Slope , a B2B financing platform for enterprise companies, today announced the beginning of a strategic partnership to boost payment performance for US enterprise merchants. Slope’s innovative payment platform offers two key payment solutions for B2B customers: “Pay Later” (Net Terms or Installments) and “Pay Now” (ACH and credit card acceptance).

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Rain to offer EWA services via Workday

Payments Dive

The earned wage access provider will now be able to offer its services to more employers through the human resources software firm’s systems.

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SCB Teams Up with Mastercard and Soft Space to Boost Contactless Payments

Fintech News

Siam Commercial Bank (SCB) has partnered with Mastercard and Malaysian fintech Soft Space to launch the ‘Effortless Payment Processing’ campaign. This initiative aims to accelerate the adoption of contactless payments in the Asia-Pacific region by providing eligible merchants with Android devices valued at over 3.25 million baht, pre-installed with the ‘SCB Tap-To-Pay’ service.

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How to Build a Chargeback Payments Team in your Company

Clearly Payments

If your business accepts credit cards, chargebacks are a part of doing business. Chargebacks can impact your business’s revenue, reputation, and customer relationships. With rising fraud and online shopping, efficiently managing a chargeback team can be a big differentiator for your business. This guide provides an overall approach to managing a chargeback team, covering everything from key roles and responsibilities to leveraging technology, monitoring performance, and incorporating data-

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How to Select the Perfect Payments Partner: 7 Keys for Sustainable Growth

Speaker: Brad Pinneke, VP of Business Development at Payrix and Worldpay for Platforms

Join Brad Pinneke, Vice President of Business Development at Payrix and Worldpay for Platforms for an informational webinar about how to select the ideal payments provider for your platform! This session highlights the 7 key criteria for assessing payments partners and maximizing the value of your investment. From evaluating technology and business development programs to understanding support and compliance, this webinar will equip you with a comprehensive evaluation framework and strategy for

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Paynetics Selects tell.money to Implement Confirmation of Payee (CoP) Service

Fintech Finance

Paynetics , a leading provider of embedded finance services, partners tell.money to implement the Confirmation of Payee (CoP) service. The collaboration ensures that Paynetics takes advantage of tell.money’s CoP service, allowing partners to embed financial services while staying fully covered with minimal effort. Paynetics will benefit from the CoP service provided by tell.money, gaining enhanced security and compliance capabilities that enable them to offer top-notch compliant and precis

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Australia gives priority to wholesale CBDC over retail

Finextra

The Reserve Bank of Australia is to prioritise the issuance of a wholesale central bank digital currency over a retail CBDC, arguing that a clear business case for the latter has yet to emerge.

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Open banking safer than screen scraping, experts say

Bank Automation

Open banking regulation should promote secure data sharing while eliminating the need for screen scraping. In the United States and Canada, screen scraping is still a common practice, Michelle Beyo, chief executive at consulting firm Finavator, said during this week’s Bank Automation News’ webinar, “The future of open banking – Payments meet data.

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OCBC to invest $500 million in new innovation hub

Finextra

South East Asia's second-largest bank, OCBC, is to invest $500 million in Punggol Digital District (PDD), with the set-up of a new 430,000 sq ft innovation hub and a multi-million dollar strategic partnership with Singapore Institute of Technology (SIT).

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Provide Real Value in Your Applications with Data and Analytics

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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Transactions: Citizens Bank, Navan team up for travel expense management

Bank Automation

Citizens Bank has teamed up with Navan to provide its commercial customers with travel expense solutions. “Dynamic travel policies are in demand given the changing landscape in travel and the unique needs of companies and employees,” Rodrigo Sanchez, head of commercial card solutions at Citizens, told Bank Automation News. “Clients are also looking for ways […] The post Transactions: Citizens Bank, Navan team up for travel expense management appeared first on Bank Automation News.

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Banks in Singapore add facial verification to security toolkit

Finextra

Banks in Singapore will progressively implement Singpass Face Verification (SFV) over the next three months to strengthen the digital token (DT) setup process for retail banking customers.

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Long-Term Success or Short-Term Hype: Understanding the TON Ecosystem’s Growth

The Fintech Times

The Open Network (TON) ecosystem, the scalable blockchain and network project, has seen tremendous growth over the past year. Looking to understand why it has become so popular, we hear from industry experts in addition to analysing a new report by Bitget , the cryptocurrency exchange and Web3 company. Originally created in 2018 by the global messaging platform Telegram, the TON network — then known as Gram — was poised for success.

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US Faster Payments Council publishes dual reports on ISO 20022 implementation and benefits

Finextra

The U.S. Faster Payments Council (FPC), a membership organization devoted to advancing safe, easy-to-use faster payments in the United States, today announced the release of two complementary reports from its Cross-Border Payments Work Group, sponsored by Mastercard: How to ISO 20022 and Distinguishing Advantages in the Format & Structure of ISO 20022 for Instant Payment Adoption.

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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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Future Finance Launches Innovation Leadership Programme to Enhance UK Fintech Innovation

The Fintech Times

Rapid technological advancements and regulatory shifts are hindering operational efficiencies in the fintech sector according to research by Future Finance , the financial services supporting body. Looking to drive innovation in the face of these challenges, Future Finance is leading a new initiative. In this programme, Future Finance will support businesses with the skills and insight needed to overcome challenges and optimise business processes.

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Forrester Report: The Future of APAC Payments

Fintech News

In Asia-Pacific (APAC), the payment landscape is rapidly evolving, driven by the integration of advanced technologies, growing use of alternative payment methods and the rise of digital currencies. A new analysis by Forrester explores this dynamic ecosystem, highlighting the key trends and innovations that are reshaping the payment landscape. Integrating cutting-edge technologies The report emphasizes APAC’s innovative payment landscape, which has evolved from QR code payments in China to the in

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JPMorgan in talks to take on Apple's credit card portfolio from Goldman Sachs

Finextra

JPMorgan Chase is in discussion with Apple about taking over the computer giant's credit card programme from Goldman Sachs.

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Aspire Strengthens Compliance Team with Key Hires Amidst Global Expansion

Fintech News

Singapore-based B2B fintech firm Aspire has appointed Summer Yu as Global Head of Compliance and Tommaso Scarpa as Head of Compliance for Singapore. These appointments aim to strengthen the company’s compliance, risk, and IT security teams, which have reportedly increased fivefold in the past 24 months. Yu brings over 20 years of experience in international regulation from PayPal, Bytedance, and HSBC.

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Secrets of a Successful Sale: Optimizing Your Checkout Process

Speaker: David Nisbet, Everett Zufelt, and Michaela Weber

Once upon a time, in the vast realm of online commerce, there lived a humble checkout button overlooked by many. Yet, within its humble click lay the power to transform a mere visitor into a loyal customer. 🧐 💡 Getting checkout right can mark the difference between a successful sale and an abandoned cart, yet many businesses fail to make payments a part of their commerce strategy even when it has a direct impact on revenue.

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Capgemini Selected to Make AutoRek Reconciliation Services More Efficient

The Fintech Times

AutoRek , the Glasgow-based reconciliation and financial data management platform, has partnered with Capgemini , the consulting and digital transformation firm, to ensure it remains ahead of reporting requirements for clients as well as complying with regulatory changes. AutoRek is aiming to strengthen its finance operations team and controls for big players across asset management, payments, banking and insurance sectors.

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Xero to Acquire Syft Analytics

Finovate

Xero announced plans to acquire Syft Analytics, a collaborative reporting tool. Financial terms of the agreement were not disclosed, but the deal is expected to close between October and December of this year. Xero plans to integrate Syft’s technology into its existing accounting offering, and it will also continue to maintain Syft as a standalone company.

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Uzum Launches New Education Initiative With Mastercard to Improve Financial Literacy in Uzbekistan

The Fintech Times

Uzum , the fintech and e-commerce ecosystem in Uzbekistan, is joining forces with payments giant Mastercard to launch a new education project to improve financial literacy across the country. Uzum and Mastercard have launched two free online courses to help Uzbek consumers understand how to conveniently and safely use debit and credit cards. This is one of the first initiatives aimed at increasing the popularity of digital payments and fintech in the region.

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TBC Uzbekistan opens waitlist for digital business banking service

Finextra

TBC Uzbekistan, the leading digital banking ecosystem in Central Asia, launched a waiting list for its upcoming new product offering, TBC Business, set to go live later this year and become the country’s first fully digital banking service for SMEs and individual entrepreneurs.

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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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Q&A with Hasan Fardan Al Fardan, the CEO of Al Fardan Exchange.

The Fintech Times

Hasan Fardan Al Fardan, the third-generation CEO of Al Fardan Exchange, sat down with The Fintech Times’ Mark Walker to discuss the company’s focus on AI and digital transformation. As the head of a business founded by his grandfather in 1954 and expanded into a foreign exchange firm in 1971, Al Fardan shared his perspective on the evolving role of technology in the financial services industry.

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FDIC plans to strengthen custodial deposit rules following Synapse collapse

Finextra

In the wake of the collapse of fintech Synapse, a US regulator has outlined plans to strengthen recordkeeping requirements for bank deposits received from third party companies on behalf of their customers.

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Greater Collaboration Needed Between Network and Security Teams to Combat Growing Cyber Threats

The Fintech Times

Research from Skybox Security , the enterprise cybersecurity solutions provider, has found that the majority of fintech decision-makers are confident in managing exposures across network and security teams. However, taking a deeper dive, the firm reveals that there is a divide in the collaboration between network and security teams. In its report , Breaking Down Exposure Management Silos: Confronting the Network-Security Disconnect , Skybox Security analyses collaboration between network and sec

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Wells Fargo Expands API Capabilities for its Commercial Banking Business

Fintech Finance

Wells Fargo & Company (NYSE: WFC ) has announced the launch of specialized Application Programming Interfaces (APIs) tailored for its Commercial Banking clients. This expansion of Wells Fargo’s API portfolio provides immediate access to real-time data that may help increase sales, improve liquidity, reduce credit risk, and reduce expenses for floorplan and channel finance clients in the following industries: auto, motorsports, outdoor products and equipment, recreational vehicles, consumer e

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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.