Payments Dive
JULY 16, 2024
The Federal Reserve’s nascent instant payments system has collected hundreds of bank participants across the country in its first year of operations, although a few major banks are holdouts.
Bank Automation
JULY 16, 2024
Morgan Stanley is using AI to improve efficiency and deepen the relationship between its advisers and customers. The bank is deploying technology to aid growth across its three divisions — investment banking, wealth management and institutional securities — Chief Financial Officer Sharon Yeshaya said during Morgan Stanley’s second-quarter earnings call today.
Fintech News
JULY 16, 2024
Banking software provider Temenos and global payments leader Visa have announced a collaboration to simplify and streamline cross-border payments for banks and their customers. The partnership will integrate Visa Direct, Visa’s money movement solution, with Temenos Payments Hub , making it accessible to banks through Temenos Exchange, Temenos’ partner solutions ecosystem.
The Payments Association
JULY 16, 2024
Firms must navigate complex payment service regulations and the often-overlooked EBA Guidelines on Remuneration Policies to ensure compliance and foster fair customer outcomes.
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
Basis Theory
JULY 16, 2024
Upon completing the migration to a new payment service provider (PSP), payment professionals often let out a sigh of relief. The 6-month (or longer) process of migrating all the data, flows, and processes to a new PSP finally ends with green checkmarks and live checkout flow.
Stax
JULY 16, 2024
The writing on the wall is clear. Cash payments are passé. Consumers are increasingly opting for debit and credit cards or other digital payment methods—for in-store and eCommerce purchases alike. A study by the Pew Research Centre found that in 2022, 41% of consumers didn’t use cash for weekly purchases of essentials like groceries and gas. This was a huge leap from 2018 when only 29% used cashless payments for the same.
Payments Space brings together the best content for payment processing professionals from the widest variety of industry thought leaders.
The Payments Association
JULY 16, 2024
Enhancing the FCA’s complaints reporting process aims to swiftly identify consumer harm, improve regulatory compliance, and streamline operations for financial firms.
Fintech News
JULY 16, 2024
Singapore’s sovereign wealth fund, GIC , is considering selling its minority stake in Bukalapak , an Indonesian e-commerce platform, sources told DealStreetAsia. Discussions are in the preliminary stages, and GIC has not yet decided whether to hire bankers for the sale or handle it internally. When contacted by DealStreetAsia, GIC and Bukalapak both declined to comment on the potential divestment.
Fintech Review
JULY 16, 2024
Open banking is transforming the financial landscape by fostering innovation , competition, and improved customer experiences. It involves sharing financial data through secure application programming interfaces (APIs). This practice allows third-party providers (TPPs) to access banking data with customer consent, enabling the development of new financial services and products.
Fintech News
JULY 16, 2024
PT GoTo Gojek Tokopedia Tbk has introduced “Dira by GoTo AI,” an AI-enabled fintech voice assistant in Bahasa Indonesia. This launch is part of a long-term Artificial Intelligence (AI) innovation programme aimed at integrating advanced AI technology throughout GoTo ‘s ecosystem. Initially available to a limited number of users on the GoPay app, Dira will be gradually rolled out and eventually become available on the Gojek app.
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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?
The Fintech Times
JULY 16, 2024
Payment solutions provider Paycorp has expanded its embedded, pre-approved business funding offering into the United Kingdom, to meet growing demand in the region. Paycorp has launched its embedded funding offering in the UK as ‘Recap Global’ and plans to serve SMEs across all sectors, including wholesale and retail trade, restaurants and pubs, hotels, mechanics, and taxi firms.
The Payments Association
JULY 16, 2024
The financial struggles of UK adults highlight the vital role and challenges of community finance institutions in promoting financial inclusion.
Payments Dive
JULY 16, 2024
The rise of digital wallets hasn't dampened prepaid card use, including the payroll cards some employers use to pay their workers.
The Payments Association
JULY 16, 2024
CEOs discuss top challenges and priorities in a Payments Lab roundtable, focusing on technology, fraud prevention, and regulatory compliance.
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
Fintech News
JULY 16, 2024
StraitsX, a digital asset payments infrastructure provider in Southeast Asia, has received Major Payment Institution (MPI) licenses from the Monetary Authority of Singapore (MAS). The licenses were issued to StraitsX USD Issuance Pte. Ltd., StraitsX SGD Issuance Pte. Ltd., and StraitsX Payment Services Pte. Ltd. Additionally, Xfers Pte. Ltd. obtained approval to expand its existing MPI license to include account issuance, domestic and cross-border money transfers, merchant acquisition, and digit
Fintech Finance
JULY 16, 2024
Temenos (SIX: TEMN), the banking software company, today announced a collaboration with Visa , a world leader in digital payments, to integrate Visa Direct, a Visa money movement solution, with Temenos Payments Hub and make available to banks via Temenos Exchange, the Temenos ecosystem of partner solutions. The Visa Direct network can help financial institutions move money to billions of endpoints in 190+ markets and 160 currencies with real-time cross-border and domestic payment solutions.
Bank Automation
JULY 16, 2024
Bank of America continued to see digital adoption grow during the second quarter while keeping up with the digital needs of clients by looking to AI. “AI has moved from cost savings ideas to enhancing the quality of our customer interactions,” Chief Executive Brian Moynihan said during today’s second-quarter earnings call.
Fintech Finance
JULY 16, 2024
OANDA announced today that it has introduced cryptocurrencies* as a payment method in its prop trading business, OANDA Prop Trader, giving customers globally the option to pay for trading Challenges using cryptocurrencies via the program’s user portal. Prop Trader is a program that enables self-directed traders to become signal providers, on a profit-sharing basis, to the firm’s proprietary trading business.
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.
Bank Automation
JULY 16, 2024
EverBank considers strong platforms and API-first integrations when selecting third-party vendors to modernize operations. “If we build good platforms that are API-first, we can plug in the best of the best [into the bank],” Lindsay Lawrence, executive vice president and chief operating officer, told Bank Automation News.
Fintech Finance
JULY 16, 2024
Swipesum , a payment processing and merchant services consultancy, and Authorize.net , a Visa solution, are both collaborating with 4aGoodCause , an all-in-one online donation platform, to enhance customer support and streamline payments for mission-driven nonprofit organizations and their donors. Swipesum and Authorize.net will provide organizations on the 4aGoodCause platform with flexible payment options and hands-on customer service and payment management.
Fintech News
JULY 16, 2024
Haruko, a digital asset investment management platform based in London, has announced a US$6 million funding round as it expands into Southeast Asia. The Series A funding was co-led by White Star Capital’s Digital Asset Fund and MMC Ventures, bringing Haruko’s total venture capital funding to US$16 million. Founded in 2021, Haruko has a presence across North America and Europe, serving over 50 investment management institutions with offices in London and Singapore.
Fintech Finance
JULY 16, 2024
Thought Machine , the cloud-native banking technology company and Quantifeed , the leading provider of digital wealth management solutions, today announce a new partnership which brings together their joint capabilities to service the private banking sector worldwide. Thought Machine is having exceptional success in delivering modern, cloud-native core and payment technology to retail and commercial banks worldwide.
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.
Fintech News
JULY 16, 2024
HSBC has announced the appointment of Georges Elhedery as Group Chief Executive Officer (CEO), effective 2 September 2024. Elhedery, who joined HSBC in 2005, has served as Group Chief Financial Officer since January 2023 and has previously held key roles, including Co-CEO of Global Banking & Markets and CEO of the Middle East, North Africa, and Turkiye region.
Fintech Finance
JULY 16, 2024
The Financial Stability Board (FSB) published today, for public consultation, its proposed recommendations to promote greater alignment in data frameworks related to cross-border payments and consistency in the regulation and supervision of bank and non-bank payment service providers. These reports take forward priority actions under the G20 Roadmap to address legal, supervisory and regulatory frictions in cross-border payments to help achieve the quantitative targets in 2027.
Finextra
JULY 16, 2024
Existing investor Tiger Global Management is in talks to lead a $500 million secondary share sale for Revolut that would value the UK-based fintech giant at at least $40 billion, according to Sky News.
Fintech Finance
JULY 16, 2024
PayPoint today issues a warning over the risks of Unauthorised Cheque Fraud which last year cost victims in the UK £5.6 million according to the UK Finance Annual Fraud Report 2024. Despite the overall value of Unauthorised Cheque Fraud losses falling by -25% in 2023, the number of cases rose by almost a quarter (+24%) in parallel, indicating that criminals still view it a highly lucrative crime.
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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.
The Fintech Times
JULY 16, 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. The terms ethical finance and ethical banking often go hand in hand with climate awareness and focusing on net zero.
Fintech Finance
JULY 16, 2024
Jordan Kuwait Bank (JKB) is pleased to announce its strategic collaboration with Mastercard and FOO to introduce eliWallet, a groundbreaking multicurrency payment. eliWallet, developed by Jordan’s leading banking provider JKB, is a state-of-the-art prepaid wallet offering both virtual and physical cards for multicurrency transactions, and methods to provide a timely method of payment for customers, enabling them to carry out transactions with ease, whether in store, using the app, or shopping on
Finextra
JULY 16, 2024
Digital investing platform Webull has launched Webull Savings, an offering that provides users with access to a marketplace of savings accounts and the ability to move funds quickly between trading accounts and banks.
Fintech Finance
JULY 16, 2024
The financial technology platform of choice for leading businesses, Adyen and Ventrata partner to power Ventrata’s market-leading booking platform with real-time data processing and unified payments through Ventrata Payments. This expanded partnership improves the ticket purchasing experience for visitors to iconic sites like the Empire State Building, which was recently named the number one attraction in the world by Tripadvisor travelers.
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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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