Thu.Jun 20, 2024

article thumbnail

5 questions with … Morgan Stanley Head of AI Jeff McMillan

Bank Automation

Morgan Stanley’s Jeff McMillan, head of firmwide artificial intelligence, is focused on developing and deploying AI throughout the operations of the $212 billion financial institution. The New York-based FI appointed McMillan to the newly created position March 14, he told Bank Automation News.

AI 126
article thumbnail

EBAday 2024: Collaboration is key to fraud management

Finextra

In one of the closing sessions of EBAday 2024 in Lisbon, panellists Marc Corbalan, VP of RTP analytics at Visa; Erwin Kulk, head of service development and management at EBA Clearing; Simone Löfgen, global head of payment platforms and managing director at Commerzbank; and Kannan Rasappan, founder and CEO of Banfico, explored innovations in cybersecurity in a panel titled ‘New approaches to fraud management’.

RTP 116
article thumbnail

Generative AI in Payments: 4 Use Cases to Increase Revenue and Optimise Costs

Fintech News

Will Generative AI in payments accelerate financial institutions on their path to increased revenue and cost optimisation? The zero-humility ChatGPT says yes and offers multiple proofs from McKinsey, Forbes, EY, and other analysts. Even more reassuring, 54% of FSIs surveyed in EMEA, USA, and APAC are already embedding AI into their offerings or expanding their initiatives, and 61% plan to use Gen AI in 2024.

Use Case 120
article thumbnail

Unlimit and Convera partner to simplify tuition payments for students in developing countries

The Payments Association

Unlimit’s leading suite of global alternative payment methods will allow Brazilian students to pay tuition fees using the currency and method of their choice through Convera GlobalPay for Students without incurring additional charges Read more

article thumbnail

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

article thumbnail

Point-of-Sale Systems (6 keys to maximize your POS)

National Processing

What if we told you that you may be missing out on great uses for your (POS) point-of-sale system? These uses can drive more revenue and make your business run smoother. So it’s too bad many businesses only think of their POS as a way to take payments. Let’s clear that myth up […] The post Point-of-Sale Systems (6 keys to maximize your POS) appeared first on National Processing.

Process 88
article thumbnail

5 ISV Partner Program Considerations SaaS Companies Should Keep in Mind

Stax

The SaaS space is one of the most dynamic industries out there, which is why smart comapnies team up with strategic partners to drive growth and innovation. Enter ISVs, which play a crucial role in enhancing and extending the capabilities of SaaS solutions. An ISV partner is a software vendor that partners with an ISV and provides additional services or technology.

ISVS 88

More Trending

article thumbnail

NatWest to acquire Sainsbury's Bank

Finextra

NatWest is to acquire the retail banking assets and liabilities of the banking arm of UK supermarket chain Sainsbury's.

Acquirers 118
article thumbnail

PayPal Ventures Leads Gynger's $20 Million Series A Funding Round

PayPal

Gynger, the first embedded financing platform for technology purchases, also announced the close of up to $100 million debt facility to fuel its growth as it pioneers the rapidly expanding tech purchasing landscape.

article thumbnail

EU to agree to Apple’s open NFC proposal “in next few weeks”

NFCW

The EU has agreed to accept Apple’s proposal to provide developers “with free access to its NFC technology on iOS devices and without having to use Apple Pay or Apple Wallet”, the Financial Times reports. The move follows a proposal of commitments made by Apple to the European Commission in January. This included an offer to provide a new set of APIs that approved developers would be able to use to provide a host card emulation-based alternative to Apple Pay. “The Europea

CHIPS 94
article thumbnail

FTC warns of cash losses to government impostors

Payments Dive

The median loss paid in cash to government impersonation scammers in the first quarter was $14,740, far above the $1,000 median for all payment types.

article thumbnail

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.

article thumbnail

Banks, fintechs, regulators set a course for APP security

The Payments Association

APP fraud is surging, with UK Finance reporting £42.6 million lost in early 2023, prompting calls for stronger consumer protections.

article thumbnail

Unlimit and Convera Partner to Simplify Tuition Payments for Students in Developing Countries

Fintech Finance

Leading global fintech company, Unlimit and Convera , the global commercial fintech that powers international business by moving money with ease, announce their partnership, to empower their GlobalPay for Students platform and simplify tuition payments for students in emerging markets. The partnership will kick off in Brazil, with Convera leveraging Unlimit’s comprehensive alternative payment method (APM) portfolio to enable the seamless payment of cross-border tuition fees via the GlobalPay for

article thumbnail

Faster payments catch on slowly: survey

Payments Dive

About half of payments players surveyed recently by the U.S. Faster Payments Council said they have integrated faster payment technologies.

article thumbnail

Higher Prices Have Impacted Online Shopping for Majority of US Consumers, New Forter Study Finds

Fintech Finance

Forter , the Trust Platform for digital commerce, released findings from a national consumer study that found the majority of respondents (61%) have shifted their online shopping habits as a result of higher prices, signalling a need for brands to evolve with their customers. Commissioned by Forter and conducted by Talker Research, the study revealed nearly nine in 10 respondents have seen their cost-of-living increase over the past five years.

article thumbnail

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.

article thumbnail

NatWest agrees to acquire Sainsbury’s retail banking unit

Bank Automation

NatWest Group Plc has agreed to acquire J Sainsbury Plc’s banking business as the British lender looks to seize more market share in retail banking. Britain’s second-largest grocer agreed to pay NatWest £125 million ($159 million) as part of the transaction, the companies said in a statement on Thursday.

article thumbnail

AMINA Bank Launches the AMINA Payments Network (APN)

Fintech Finance

AMINA Bank , a licensed and FINMA-regulated digital assets bank, has today announced the launch of the AMINA Payment Network (APN). Designed to address the needs of the crypto banking world, APN helps to facilitate real-time payments to other APN members. This new service aims to keep users ahead and connected, ensuring seamless and timely financial transactions.

article thumbnail

Elmore and Green Swan to offer insurance coverage against APP fraud

Finextra

Elmore Insurance Brokers and RegTech Green Swan Compliance have teamed up on the development of an Authorised Push Payment (APP) Fraud Reimbursement Insurance product for qualifying UK banks, Payment Service Providers, E-Money Institutions, and Authorised Payments Institutions.

article thumbnail

Germany Cost of Living Crisis Drives 62% Increase in Prepaid Card Use, With 1 in 4 Users Using Them to Avoid Debt

Fintech Finance

Germans are increasingly turning to prepaid cards and adjusting their spending habits to manage the ongoing cost of living crisis and to avoid debt, according to a new survey conducted by research firm Opinium , commissioned by leading online prepaid payment firm Recharge. The survey of 2,000 German adults (18+) reveals that 26% (1 in 4) of Germans (18.4 million) use prepaid cards, a 62% increase since the cost of living crisis began. 32% of users (5.9 million) said they use prepaid cards to sta

article thumbnail

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.

article thumbnail

AI to impact more than half of banking jobs - Citi

Finextra

AI is set to upend the finance industry, adding tens of billions of dollars in profit while leading to the automation of as many as half of jobs in the sector, according to research from Citi.

AI 72
article thumbnail

Mangopay Announces the Appointment of Mark Fleming as Chief Commercial Officer

Fintech Finance

Mangopay , a leading provider of modular and flexible payment infrastructure for platforms, is pleased to announce the appointment of Mark Fleming as Chief Commercial Officer. Mark will join CEO Romain Mazeries’ leadership team to spearhead Mangopay’s international expansion and growth into new client industries, furthering the company’s impact on the platform economy.

article thumbnail

Revolut Launches RevPoints to Reward Customers for Daily Spending

The Fintech Times

Allowing customers to earn rewards when they spend is a surefire way for firms to maintain a longstanding relationship with their user base. The latest firm taking advantage of this is Revolut , the global financial app, as it announces RevPoints, the pan-European debit loyalty card programme. With over 40 million customers worldwide, Revolut is now enabling its customers to turn everyday spending into rewards.

article thumbnail

Flutterwave Leads Fight Against Fraud with EFCC Partnership

Fintech Finance

Flutterwave , Africa’s leading payments technology company, has committed to partnering with Nigeria’s Economic and Financial Crimes Commission (EFCC) to establish and lead a state-of-the-art Cybercrime Research Center. This strategic initiative aims to intensify the fight against internet crime, enhance the security of business transactions, and provide a sustainable lifeline to youths across the country.

article thumbnail

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.

article thumbnail

Instant Payments and the Opportunity for New Technology Strategies

Finextra

Daragh Kirby, Head of Sales & Marketing, Intercope, speaks at EBAday 2024, about how instant payments allows banks to no longer use cumbersome core banking systems to process transactions – whether it be SEPA, cross-border or RTGS payments. We explore how financial institutions are now looking to more suited technologies so instant payments can be made in a leaner way and with lower latency, to support meeting regulation timelines and reap the rewards that are available with faster transactions.

article thumbnail

WSPN and DigiFT forge Web3 partnership

The Paypers

Digital payments company WSPN has partnered with DigiFT , an on-chain exchange for real-world assets (RWA), to advance stablecoin adoption and Web3 solutions globally.

article thumbnail

Swiss National Bank to expand wCBDC trials

Finextra

The Swiss National Bank is to expand its wholesale central bank digital currency pilot, Helvetia, for a further two years after promising results in early trials.

article thumbnail

Commerzbank Adds Commercial Card Capabilities from Pliant

Finovate

Commerzbank is leveraging Pliant to offer physical and virtual cards to its corporate banking suite. Corporate-card-as-a-service company Pliant allows banks to issue virtual and physical corporate cards with backend controls and a management and visibility platform. Pliant has raised $180 million, including a recent $19 million Series A round led by PayPal Ventures.

article thumbnail

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.

article thumbnail

EBAday 2024: Growing use cases for AI in banking and payments

Finextra

During the last panel of EBAday 2024, Patricia Hines, head of banking and payments at Celent talked all things AI with Sara Amara, head of currency and clearing Europe at HSBC; Gurumurthy Palani, head of transaction banking at Gulf International Bank; Christian Sarafidis, chief executive EMEA financial services at Microsoft; and Andy Schmidt, vice president, global industry lead – banking at CGI.

article thumbnail

UAE and South Korea Strengthen Support for Local Businesses Through New Collaboration

The Fintech Times

Startups are at the core of every economy, and to ensure their survival, they often turn to partnerships and collaborations. Looking to make these more accessible and integrations more seamless, the Abu Dhabi Chamber of Commerce and Industry (ADCCI) signed a collaboration agreement with the Korea International Trade Association (KITA) in Seoul. The collaboration agreement was signed by Ahmed Khalifa Al Qubaisi , CEO of the ADCCI , and Lee In-ho , vice executive chairman of KITA’s board of direc

article thumbnail

Scammers can crack almost half of passwords in less than a minute

Finextra

Scammers could crack 45% of passwords within a minute, using brute force or smart guessing attacks, warns security firm Kaspersky.

article thumbnail

Capital.com Selects Trulioo to Support Identity Verification for Global Expansion

The Fintech Times

Retail trading platform Capital.com has selected identity verification platform Trulioo , to support its global expansion with streamlined customer onboarding. Having initially partnered with Trulioo in 2023, Capital.com is now expanding the use of the identity verification platform’s ‘Person Match’ offering to 17 countries across EMEA, APAC and Latin America.

article thumbnail

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.