Wed.Feb 21, 2024

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Mastercard to be dinged by Discover deal

Payments Dive

While both Mastercard and Visa will be impacted by Discover Financial Services’ plan to be acquired by card issuer Capital One, the former is likely to bear the brunt of the blow.

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PCI DSS Requirement 7 – Changes from v3.2.1 to v4.0 Explained

VISTA InfoSec

Welcome back to our ongoing series on the Payment Card Industry Data Security Standard (PCI DSS) requirements. Having covered the first six requirements in detail, we now turn our attention to Requirement 7. This requirement is a critical component of the PCI DSS that has undergone significant changes from version 3.2.1 to the latest version 4.0. Requirement 7 focuses on implementing strong access control measures.

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Singapore warns banks to prepare for quantum computing cyber threat

Finextra

The Monetary Authority of Singapore has told the country's financial institutions to make sure they are prepared for the rising cybersecurity risks posed by quantum computing.

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Biometrics are UK Consumers’ Favourite Security Measure as Desire For Fraud Protection Increases

The Fintech Times

The need and desire for fraud protection has evolved. Once simply viewed as a necessary overhead, good fraud prevention measures are now a very strong way of obtaining new customers and keeping existing ones. In fact, nearly three in four consumers (73 per cent) rank good fraud protection as a top three consideration when opening a new account according to FICO research.

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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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Simplifying cross-border payments needs more than just technology

The Payments Association

As the pace and scope of cross-border payments continue to accelerate, it’s becoming increasingly clear that the payment industry’s approach to compliance must also evolve—and take centre stage.

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What is the SaaS Magic Number and How Do You Calculate It?

Stax

“A man who stops advertising to save money is like a man who stops a clock to save time,” – Henry Ford In 1913, Henry Ford brought the assembly line to the automobile industry, because he knew that prioritizing efficiency in his plants would make him more profitable. And it worked; the Model-T was the most-produced car in the world until 1975.

More Trending

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Generative AI Unleashed: Transforming Industries with Cutting-Edge Innovation

Segpay

5 minute read In recent years, generative artificial intelligence (generative AI) has emerged as a powerful force reshaping various industries. This transformative technology, characterized by its ability to create content autonomously, is poised to revolutionize how businesses operate, interact with customers, and secure sensitive information. What is Generative AI?

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Three Singapore Banks Step Up to Combat Rising Cost of Living for Junior Staff

Fintech News

Three of Singapore’s leading banks have announced substantial financial aid packages in a move to support junior employees during times of economic inflation. This initiative, kick-started by DBS, followed by OCBC, and then UOB, is in response to the latest guidelines issued by Singapore’s National Wages Council. The aim is to alleviate the financial pressures faced by lower-income employees due to the rising cost of living.

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Capital One-Discover deal may spark antitrust concern

Payments Dive

While the $35 billion acquisition is expected to prompt antitrust concerns related to consumer card lending, regulators may see competition benefits in the card network arena.

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OJK Conducts In-Depth Probe on Investree Following CEO’s Misconduct Allegations

Fintech News

The Indonesian Financial Services Authority (OJK) is closely monitoring Investree , a fintech peer-to-peer lending platform, following public reports of potential operational and consumer protection violations. The regulator is conducting an in-depth investigation through direct examinations of Investree, responding to recent concerns raised by the public.

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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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The Crucial Role of Product-Market Fit in Fintech

Fintech Review

In the ever-evolving world of fintech, where technology meets finance, the competition is fierce. New startups emerge daily, each promising revolutionary solutions. However, many of these businesses fade away, and one primary reason is their failure to achieve a pivotal business milestone: product-market fit. Let’s delve into why product-market fit is vital in fintech, ensuring startups not only survive but thrive in this dynamic industry.

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How Will MAS New Amendments Impact Financial Crime Enforcement

Fintech News

The Monetary Authority of Singapore’s (MAS) legislative reform initiative, encapsulated in the Financial Institutions (Miscellaneous Amendments) Bill (FIMA Bill), signifies a strategic overhaul aimed at enhancing the regulatory and enforcement framework governing Singapore’s financial sector. This move is indicative of MAS commitment to fortifying the integrity and resilience of the local financial ecosystem, particularly in an era where digital innovation and fintech are reshaping t

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ECB warns banks on outsourcing risks

Finextra

The European Central Bank is warning banks that their management of outsourcing risk must improve, with a stringent focus on the processing of personal data.

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MAS Warns Financial Institutions of Quantum Computing Cyber Threats

Fintech News

The Monetary Authority of Singapore (MAS) has cautioned financial institutions on the cybersecurity vulnerabilities introduced by the advent of quantum computing. Quantum computers, which leverage the principles of quantum mechanics, promise to revolutionise various industries by processing certain mathematical problems much faster than today’s computers.

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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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Transactions: U.S. Bank, Pagaya join forces for AI-driven underwriting

Bank Automation

U.S. Bank is using technology company Pagaya to leverage its AI-driven underwriting for personal loans to consumers. Pagaya’s AI-powered credit decisioning platform will conduct a secondary review for consumers who are usually locked out of the credit market, according to the bank’s Feb. 15 release. Pagaya provides U.S.

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Helicap and Bank Danamon Join Forces to Support Fintech Growth in Indonesia

Fintech News

Fintech investment platform Helicap and Bank Danamon have partnered to to support the fintech industry in Indonesia. Both entities aim to provide comprehensive growth capital solutions to fintech and alternative lending firms as well as micro, small, and medium-sized enterprises (MSMEs) across various industries including supply chain, leasing, and e-commerce.

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HSBC to boost tech spend in 2024

Bank Automation

HSBC plans to increase spending in 2024 as the bank invests in technology and its people. Costs are expected to grow to $31.2 billion, up 5% compared to 2023 due to higher technology spend and an increase in staff compensation, according to the bank’s fourth-quarter 2023 earnings release.

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What Is Dedicated SaaS and How Is It Reshaping Payments?

Fintech News

Software as a service (SaaS) is a significant part of the global software market, making up one-third of it, and is making an impact across various industries, including payments. New fintech companies leverage SaaS for swift product launches without significant initial infrastructure investments or compliance-related delays. Established players are embracing SaaS to quickly launch products and services without disrupting existing operations.

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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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How Will the Cross-Border Payments Space Evolve in 2024? With Swift, OpenPayd, Chargebee and More

The Fintech Times

Payments are arguably the face of fintech. When you think about financial technology, it is easy to think about solutions which are making payments faster, easier and more accessible. Having reflected on what the top priority is for businesses looking to enter the cross-border payments space, we now turn our attention to the future, and how the sector will evolve in 2024.

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Climate Impact X Secures S$30 Million Funding Boost Led by Mizuho

Fintech News

The Climate Impact X (CIX) , a global marketplace and exchange for quality carbon credits, has secured an additional S$30 million (US$22.3 million) in funding, as revealed by regulatory filings accessed by DealStreetAsia. This recent investment round was led by Mizuho with S$20 million and joined by its existing investors Standard Chartered Bank, DBS Bank, and the Singapore Exchange (SGX).

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Boston Fed’s Allison Baller to speak at Bank Automation Summit U.S. 2024

Bank Automation

Allison Baller, Federal Reserve Bank of Boston vice president and head of industry readiness for FedNow, will speak at Bank Automation Summit U.S. 2024. Baller will join the panel “Strategies for automating real-time payment processes” on Tuesday, March 19, at 3 p.m. CT.

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QuickBooks and Stripe Integration Guide

Chargebee

As a business owner, keeping your financial records organized and up-to-date is essential for making informed decisions and staying on top of your company’s finances. If your business uses Stripe as a payment processor and QuickBooks for accounting, you may have experienced the challenge of manually entering transaction data into QuickBooks. However, this tedious task can be eliminated with the integration of Stripe and QuickBooks.

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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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Kani Payments Teams up with Core Banking Platform Pismo

Finovate

Reconciliation and reporting platform Kani Payments has forged a strategic partnership with core banking platform Pismo. The partnership will make Kani’s SaaS platform available to Pismo’s bank, marketplace, and fintech clients. Kani Payments made its Finovate debut last year at FinovateSpring in San Francisco. U.K.-based reconciliation and reporting platform Kani has forged a strategic partnership with Pismo, an issuer processor and core banking platform headquartered in Brazil.

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Napier AI lands £45 million in funding

Finextra

UK financial crime RegTech Napier AI has landed £45m in backing from US-based Crestline Investors.

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Bits of Stock Now Available in Q2’s Digital Banking Platform

Finovate

Q2 is leveraging Bits of Stock’s technology to help its financial institution clients reward their customers with fractional shares of stock. The partnership was made possible through the Q2 Partner Accelerator Program , which makes it easy for fintechs to reach Q2’s financial institution clients. Bits of Stock showcased its rewards platform alongside its client OMB Bank at FinovateFall last year.

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New FinTech Wales CEO Sarah Kocianski Unveils Vision to Propel Welsh Fintech Globally

The Fintech Times

Welsh fintech is poised for a new chapter as FinTech Wales announces Sarah Kocianski as its new CEO. The fintech and insurtech strategist has revealed plans to “do even more” to drive Welsh fintech to international prominence. Kocianski will officially join FinTech Wales as CEO from 1 March – St David’s Day – taking the reins from outgoing CEO Sarah Williams-Gardener.

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Deliver Mission Critical Insights in Real Time with Data & Analytics

In the fast-moving manufacturing sector, delivering mission-critical data insights to empower your end users or customers can be a challenge. Traditional BI tools can be cumbersome and difficult to integrate - but it doesn't have to be this way. Logi Symphony offers a powerful and user-friendly solution, allowing you to seamlessly embed self-service analytics, generative AI, data visualization, and pixel-perfect reporting directly into your applications.

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The disruption the auto industry has been waiting for

Stripe

The rise of direct-to-consumer sales, subscription models, and connected car services have made payments and financial infrastructure key differentiators for auto brands. Leading auto companies are partnering with Stripe to better serve their customers and find new revenue opportunities.

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GLEIF Approves Commonwealth Bank of Australia as Region’s First Validation Agent

The Fintech Times

The Commonwealth Bank of Australia (CBA) has become the latest financial institution to be approved as a Validation Agent in the Global Legal Entity Identifier (LEI) System. The Global Legal Entity Identifier Foundation (GLEIF) explained that by becoming the first Validation Agent based in Australia , CBA is now uniquely positioned to deliver a seamless experience for its clients when obtaining an LEI; while also realising significant operational efficiencies.

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Green Dot forms BaaS partnership with Dayforce

Finextra

Green Dot Corporation (NYSE: GDOT), a leading digital bank and fintech providing seamless banking and payments services to consumers and businesses, announced a new partnership with Dayforce, Inc. (NYSE: DAY; TSX: DAY).

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Seamless Asia 2024: the Future of Finance in APAC with Insights from Intix

The Fintech Times

Seamless Asia , one of Asia’s flagship fintech events, took place at the Suntec Singapore this week, serving as a pivotal platform for charting the future trajectory of payments, banking, and e-commerce in the region. With more than 2,900 attendees comprising payments, banking, and e-commerce innovators from across Asia and beyond, the event buzzed with insights, trends, and predictions shaping the financial industry.

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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.