Tue.Apr 16, 2024

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Can embedded finance solve one of payments’ biggest problems?

Payments Dive

As crucial as it is to focus on your core business, today’s merchants demand a broader range of services from their providers. Can embedded finance help solve this core competency problem?

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Blockchain for Good Alliance Launched by Bybit and Partners to Address Gaps in Web3 Industry

The Fintech Times

A new coalition uniting blockchain foundations, universities, and NGOs in a commitment to leveraging blockchain technology for social good has been announced. Partnering with Web3 communities, crypto exchange Bybit has unveiled the Blockchain for Good Alliance (BGA). Addressing a gap in the Web3 industry, the Blockchain for Good Alliance will use the innovations and opportunities of blockchain and crypto ecosystems to power social advancement and tackle issues.

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Steak ‘n Shake installs facial recognition at self-ordering kiosks

Payments Dive

The chain first tested the technology that lets customers pay using their face in October, and began deploying it in January.

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5 Key Drivers Behind Thailand’s Fintech Growth

Fintech News

Fintech Thailand is poised for significant growth and development in areas including digital banking, open finance, and startup support. Digital banking is on the horizon, with the first digital banking licenses slated to be issued by mid-2025 and expected to bring about enhanced customer experiences, heightened competition and increased innovation.

FinTech 115
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From Start to Scale: Driving Growth Through Seamless Payments Implementation

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

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B2B SaaS Companies: Avoiding Failed Payments

Basis Theory

Failed payments are a key performance indicator for merchants that offer subscription , or installment, payment products or services. That’s because, when a consumer’s attempt to purchase a one-off item goes south, that is a failed transaction: a disappointment, and a missed opportunity to generate revenue, but not the disappearance of a planned influx of revenue.

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Bridgewise Lands US$21M Funding Led by SIX Group

Fintech News

Bridgewise, an AI-based analysis platform for global securities, has raised US$21 million in a new funding round, bringing its total funds raised to US$35 million. This investment round was led by SIX Group and joined by Group11 and L4 Venture Builder among other financial institutions. Bridgewise offers a range of products tailored to the needs of financial institutions, featuring AI-generated reports and analyses of various financial instruments, and a personalised robo-advisor among other ser

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More Trending

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iCapital Marketplace Debuts in Singapore and Hong Kong

Fintech News

iCapital, a global fintech firm, has introduced its iCapital Marketplace in Hong Kong and Singapore. This platform is designed to streamline access to a diverse range of alternative investments for wealth managers and advisors. By utilising the company’s proprietary technology, the platform aims to simplify the investment process in private equity, debt, infrastructure, real assets, and hedge funds, by addressing common industry hurdles such as cumbersome subscription processes and limited

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CFPB notes ‘growing financialization’ of medical, rental payments

Payments Dive

The bureau has received about 15,000 complaints in the last two years concerning medical debt collectors according to general counsel Seth Frotman.

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FinbotsAI Expands Footprint to Myanmar via KBZ Bank Partnership

Fintech News

FinbotsAI, a Singapore-based fintech company specialising in AI credit scoring, has partnered with KBZ Bank, one of Myanmar’s largest privately-owned bank. This marks KBZ Bank as its first client in the country. KBZ Bank operates over 500 branches and serves approximately 40% of Myanmar’s retail and commercial banking sectors. The bank had previously launched a mobile wallet, KBZPay, in 2018 which currently has over 15 million users.

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LIVE@ IFGS: Gen Z taking the wheel: What’s driving the next generation of consumers?

Finextra

Speaking at the Innovate Finance Global Summit 2024, Emma Kisby, Cogo CEO, EMEA, talks about Gen Z taking the wheel and asks what’s driving the next generation of consumers. We hear how consumer trends have shaped the payments landscape to date, how Gen Z is becoming an increasingly major financial force, how their spending habits are changing financial operations, and what Fintechs can do to encourage sustainable habits going forward.

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15 Modern Use Cases for Enterprise Business Intelligence

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?

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Mckinsey: Generative AI to Transform Risk Management in The Next 5 Years

Fintech News

Generative artificial intelligence (AI), also known as gen AI, is expected to significantly impact risk management over the next five years, allowing financial institutions to automate tasks, accelerate processes and improve efficiencies. But in order to leverage the benefits of gen AI, risk and compliance functions must establish clear guidelines and frameworks that not only address inbound risks from gen AI but which also ensure the responsible usage of gen AI, a new paper by McKinsey says.

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BoE forecasting held back by out-of-date tech - Bernanke

Finextra

The Bank of England has been heavily criticised by a former chairman of the US Federal Reserve for relying on outdated technology for its economic forecasts.

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CFPB’s new late fee cap charts ‘a better way,’ says Sunbit CEO

Payments Dive

“The credit card industry should take a page from innovators, instead of relying on yesterday’s fee models,” argues the CEO of the payment tools provider.

Caps 78
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Crypto.com Plans ‘Thoughtful’ Hiring After Laying off 20% of Workforce Last Year

Fintech News

Crypto.com’s CEO Kris Marszalek outlined the digital-asset exchange’s plans to expand its workforce, in a recent Bloomberg interview. This comes after a period of downsizing in early 2023, where the company cut 20% of its staff following a downturn in the crypto market. Prior to the mass layoffs, Crypto.com acquired the naming rights for the stadium formerly known as Staples Center, in a deal worth US$700 million over 20 years with Anschutz Entertainment Group (AEG).

Bitcoin 99
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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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USA vs Canada Interchange Rate Comparison for Payments

Clearly Payments

Interchange rates are a cost for credit card transactions for merchants. Interchange is the revenue for credit card companies and issuing banks. Canada and the USA have a big overlap in purchasing habits and trends in payments. The two countries also have some big differences on how payment processing fees work across debit cards and credit cards. This article aims to provide an overview and comparison of the interchange rates in the United States and Canada.

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Canada's real-time payment system won't launch before 2026

Finextra

The launch of Canada's oft-delayed Real-Time Rail (RTR) payments system will now not happen until at least 2026, with new tech partners IBM and CGI brought in to the process.

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Fintech Sees Growth Amidst Declining Declining Private Equity Activities in APAC

Fintech News

The Asia-Pacific (APAC) private equity (PE) market faced significant challenges in 2023 due to concerns about slowing economic growth, rising interest rates and ongoing geopolitical tensions, Bain & Company’s latest report, the Asia-Pacific Private Equity Report 2024, says. The report, released on March 24, reveals a continued decline in PE deal activity throughout 2023, totaling US$147 billion.

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Bank of America’s digital offerings draw more users

Bank Automation

Bank of America’s digital offerings continue to be a draw, as its virtual assistant Erica reached 2 billion user interactions in the first quarter.

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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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KBZ Bank Improves Credit Checking Capabilities With Integration of FinbotsAI’s CreditX

The Fintech Times

FinbotsAI , an Accel -backed Singapore headquartered B2B SaaS fintech, has expanded its client base across 11 countries with its latest signing: KBZ Bank. Recognised by the World Business Outlook as the Best Bank in Myanmar , KBZ Bank has over 500 branches and represents around 40 per cent of both retail and commercial banking customers in Myanmar.

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LIVE@ IFGS: Fintech & Beyond: The wider industry impact

Finextra

Kicking off UK Fintech week at the 10th year of IFGS, Janine Hirt, CEO of Innovate Finance, speaks to FinextraTV about the impact of Fintech across non-financial industries and the importance of collaboration between Fintechs, government, industry and regulators in shaping the economy, addressing inequality, and strengthening social justice and peace.

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Legacy Tech is Stopping Adopting of Latest Cybersecurity and Payments Systems Reveals Endava

The Fintech Times

Consumer demands are ever-changing and firms must ensure they are keeping track these preferences in order to retain loyalty and achieve long-term success. However, a report from Endava , the tech company with a focus on engineering and industry expertise, has revealed that one of the biggest hurdles preventing change is legacy tech. The Endava Retail Banking Report shows that 75 per cent of firms are struggling with new payments systems as a result of their outdated core systems.

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TNS launches Complete Commerce payments stack

Finextra

Transaction Network Services (TNS), a global leader in payments infrastructure and managed connectivity services, has launched Complete Commerce – a full-stack, modern and secure payment and network capability.

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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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IFGS 2024: Day Two Roundup

The Fintech Times

Innovate Finance Global Summit (IFGS) returned for a second day of jam-packed content at the historic Guildhall in the heart of London. Celebrating its 10th anniversary, the event shines a spotlight on the global financial ecosystem, bringing together key players from across the industry. The second day of the event kicked off with a welcoming address from the stage host, Sasha Qadri, a moderator and presenter, who reminded the audience of the Fintech Time Capsule launched by IFGS to capture ho

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Episode Six and Loop bring Fintech-as-a-Service to Saudi Arabia

Finextra

Episode Six (E6), a leading global provider of enterprise-grade payment processing and ledger infrastructure, has today announced a partnership with Loop, a major e-Money institution (EMI), to power its Fintech-as-a-Service offering in the Kingdom of Saudi Arabia (KSA).

FinTech 59
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In Profile: Robert Hudson at FIS

The Fintech Times

For the past nine years, FIS – a global provider of financial services technology solutions for financial institutions, businesses and developers – has supported fintech innovation and growth through its accelerator programme. Since its inception, its accelerator alumni have collectively raised over $1.5billion in capital since completing the programme and is currently looking for 10 promising fintech startups to participate in its two-week incubation and 12-week intensive programme.

FinTech 59
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Codat data product helps issuing banks accelerate from cheques to virtual cards

Finextra

Codat, a leading business data API provider, announces the launch of its new Supplier Enablement data product. This product enables businesses to more easily share their spend and supplier data from ERP (enterprise resource planning) systems and accounting software.

Product 59
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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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Morgan Stanley to deploy tech for M&A

Bank Automation

Morgan Stanley is looking to the strong merger and acquisition market as an opportunity to launch tech-driven tools that help its bankers and advisers make decisions.

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"Who's in charge?": What it takes to build an effective FinTech Board

Finextra

Speaking at the Innovate Finance Global Summit, Anita Kimber, Lead Partner, EMEIA Transformation, Financial Services at EY, talks about building an impactful Fintech board, and asks, what skillsets, cultures, and strategies are required to build one We learn about the challenges FinTechs face when trying to scale-up and why boards are so important in helping them grow successfully, why the role of boards is often overlooked by FinTechs, and what's needed to form a strong board as the FinTech ind

FinTech 59
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Understanding Chargebacks

Segpay

In the world of e-commerce and digital transactions, chargebacks are a significant headache for merchants. Cardholders dispute a transaction with their bank, resulting in a reversal of funds. Last year, the payment business suffered an estimated 238 million chargebacks. This volume is expected to increase by 42% to 337 million chargebacks by 2026. With an estimated chargeback volume of 105 million in 2023, the US holds the lion’s share of global chargebacks.

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Brite Payments appoints Luke Trayfoot chief commercial officer

Finextra

Brite Payments, a leader in instant bank payments, today announced that Luke Trayfoot has joined the company as Chief Commercial Officer (CCO), leading the Stockholm-headquartered fintech’s commercial efforts.

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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.