Tue.May 21, 2024

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Swift opens API channel for ISO 20022 corporate payment tracking

Finextra

Swift is working with 25 leading cash management banks and 20 corporates to develop a white labelled transaction tracking service for ISO 20022 messages across the entire payment chain.

ISO 20022 145
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What Would it Take to See an NFT Revival?

The Fintech Times

In recent years, digital currencies have been all the rave. However, the idea that digital assets are exclusively some form of currency is slowly falling by the wayside as different use cases are emerging and being rapidly adopted. This May, The Fintech Times is looking to showcase some of these new methods and explore how the digital asset ecosystem is evolving.

NFTs 145
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BaFin fines N26 €9.2m over late money laundering reports

Finextra

German regulator BaFin has fined N26 €9.2 million for anti-money laundering failures but could be preparing to lift a cap on the number of new customers the digital bank can take on.

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More Than a Quarter of Asian Financial Institutions Are Investing in Digital Assets

Fintech News

As the financial landscape undergoes a digital revolution, institutional investors are increasingly turning their attention to digital assets such as cryptocurrencies and Central Bank Digital Currencies (CBDCs). A recent report by SBI Digital Asset Holdings (SBI DAH) sheds light on the growing interest and adoption of these innovative financial instruments among institutional investors.

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The Evolving Retailers Fulfillment Strategy: Meeting Demands with Agility

Speaker: Becky Parisotto

Fulfillment is no longer just about getting products from point A to point B – it's about crafting seamless, scalable, customer first experiences. Flexible fulfillment strategies are more important than ever for those aiming to stay ahead and build resilience as retail enters a new era in 2025. Learn how to optimize fulfillment processes, tackle complex, multi-vendor orders, and create seamless customer experiences – from white-glove delivery for high-value items to quick-ship solutions for ever

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Alchemy Pay preps Web3 digital banking

Finextra

Singapore-based fiat-crypto payments firm Alchemy Pay has unveiled a Web3 digital banking platform for enterprises.

Payments 124

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JPMorgan to give AI training to all new hires

Finextra

JPMorgan is to give AI training to all new employees, as the bank seeks to cement its reputation as an AI powerhouse.

AI 124
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The Evolution of Digital Payments: Fintech Revolutionises Transactions

Fintech Review

Digital payments are at the forefront of transformation. Fintech, by nature a blend of finance and technology, is revolutionising how transactions are conducted worldwide. From tapping a phone at a checkout to transferring money across borders without hefty fees, the convenience and efficiency of digital payments are unmatched. There has been significant advancements in digital payment solutions, such as mobile wallets, peer-to-peer payment platforms, and cryptocurrencies.

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Stripe launches payment and financing tools in the UK

Finextra

Stripe is strengthening its position in the UK, opening a flagship London office in the heart of the City, and launching its first Open-Banking-powered payment method and new financing options for small businesses.

Finance 121
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CFPB to treat BNPL loans like credit cards

Payments Dive

“Whether a shopper swipes a credit card or uses Buy Now, Pay Later, they are entitled to important consumer protections under longstanding laws and regulations,” CFPB Director Rohit Chopra said.

CFPB 97
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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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AI should be trained to respect a regulatory 'constitution' says BofE policy maker

Finextra

Innovative AI models should be trained to respect a ‘constitution’ or a set of regulatory rules that would reduce the risk of harmful behaviour, argues a senior Bank of England policy maker.

AI 115
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KASIKORNBANK Adds Google Pay Support for Its Visa Credit Cards

Fintech News

Thailand’s KASIKORNBANK (KBank) has announced the launch of its new Tap-and-Pay service through Google Pay, allowing customers to make payments using their smartphones. This service aims to provide easy, fast, and card-free transactions worldwide. Natthapol Luepromchai, Executive Vice President of KBank, and Jenny Cheng, Vice President and General Manager of Google Wallet, introduced the integration of KBank Visa Credit Card with Google Pay.

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Sectors exposed to AI experience five times higher growth in labour productivity

Finextra

Sectors more exposed to AI are experiencing almost five times (4.8x) higher growth in labour productivity, according to PwC's inaugural 2024 Global AI Jobs Barometer, published today.

AI 98
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Visa and Mastercard Reaction as UK Payments Regulator Plans Crackdown on Fees

The Fintech Times

Mastercard and Visa dominate the UK card payment market, lacking effective competition and leading to substantial fee hikes, according to a recent interim report by the Payment Systems Regulator (PSR). The report reveals that over the past five years, scheme and processing fees have surged by more than 30 per cent in real terms, without corresponding improvements in service quality.

Visa 90
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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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Real-time lessons for FedNow from Brazil, India

Payments Dive

The fledgling U.S. instant payments system can learn from real-time systems that have flourished in Brazil and India using QR codes and broad missions, say industry professionals.

FedNow 88
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Open banking in the UK: An in-depth analysis of its evolution, impact, and future directions

The Payments Association

The United Kingdom is at the forefront of the open banking revolution, initiated by the 2017 implementation of the Payment Services Regulations (PSRs) and PSD2. This legislation compelled major UK banks to open their data to third parties via secure APIs, fostering a competitive financial environment. Overseen by the Financial Conduct Authority (FCA), the framework is maintained by the Open Banking Implementation Entity (OBIE), which ensures easy and secure access to financial accounts.

API 88
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Law Practice Management Software Providers, Here are 8 Tips to Grow Your Business

Stax

The consistent software updates and upgrades have made it easier than ever to run businesses. We’re seeing a similar trend in the legal industry, where law firms rely on case management systems to run their businesses. With management systems’ continual growth and improvement, it’s no wonder software sales are at an all-time high. If you’re selling law practice management systems to law firms, you’re definitely not alone.

Laws 88
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Unlimit and DEUNA to deliver a new payment experience for Latam enterprises

The Payments Association

Unlimit, the global fintech company, announced a partnership with DEUNA, the ultimate unified platform for growing and simplifying commerce, aimed at enhancing cross-border payments for enterprises in Latam and others regions.

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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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Singapore and China Central Banks Bolster Green Finance Cooperation

Fintech News

The Monetary Authority of Singapore (MAS) and the People’s Bank of China (PBC) are advancing their cooperation in green and transition finance. This announcement follows the 2nd China-Singapore Green Finance Taskforce (GFTF) meeting held on 20 May 2024. The GFTF, established in 2023, focuses on scaling up green and transition financing flows between Singapore, China, and the region.

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FCA authorisations Q4 results: How is the sector performing?

The Payments Association

The FCA's final quarterly authorisations metrics for 2023-2024 reveal high efficiency and effectiveness in meeting statutory targets, though some areas require better application quality.

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Swift Streamlines Cross-Border Payments for Corporate Clients with ISO 20022

Fintech News

Swift has announced a major upgrade aimed at improving the cross-border payment experience for corporate customers. The financial messaging network will extend ISO 20022 across the entire payment chain and provide banks with ready-to-use tracking services. By standardising payments end-to-end with ISO 20022, Swift enables financial institutions to capture detailed data from the outset.

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Navigating the ethics of programmable money

The Payments Association

Discover how programmable money could revolutionise finance with automation and efficiency, while exploring the ethical dilemmas it poses around privacy and potential misuse Read more

Privacy 88
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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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Resolving the challenges of cross-border payments

Finextra

Join FinextraTV live at NextGen Nordics 2024 with Patrik Havander, Head of Visa B2B Connect Europe, as we delve into the landscape of B2B cross-border payments. Discover how banks are adapting to maintain B2B payment volumes amidst declining retail payments, explore emerging technologies shaping the future of cross-border transactions, and learn what steps banks can take today to stay ahead in the ever-evolving payments landscape.

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Alchemy Pay Gears up to Launch Web 3.0 Digital Bank for Businesses

Fintech News

Alchemy Pay, a provider of fiat-crypto payment solutions, is preparing to launch its Web 3.0 digital bank. This new initiative aims to provide global Web 3.0 businesses with a compliant and efficient way to manage multi-fiat accounts, streamline cash flows, and facilitate conversions between fiat and cryptocurrency. Inspired by Ripple’s cross-border payment model, the Web 3.0 digital bank addresses significant challenges in managing cross-border payments and fiat-crypto transactions.

Web 3.0 82
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Podcast: 35% of banks using AI, Hapax COO says

Bank Automation

Financial institutions are looking to AI to streamline daily tasks.

AI 81
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Mastercard CEO outlines int’l ambitions

Payments Dive

Mastercard has set its sights on expanding in China, Japan and elsewhere, Michael Miebach said in spelling out the company’s worldview. Last year, the company drew two-thirds of revenue from outside North America.

Visa 78
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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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JPMorgan KYC operations up to 90% more productive with AI

Bank Automation

JPMorgan Chase is reaping rewards in know-your-customer operations from deployment of AI. The bank processed 155,000 know-your-customer (KYC) files in 2022, using 3,000 people to accomplish the task. “By the end of next year, we will process 230,000 files with 20% less of the people.

AI 81
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Anti-Scam Centre and DBS Bank Recover Over S$170,000 in Tech Support Scam

Fintech News

Singapore’s Anti-Scam Centre (ASC) and DBS Bank have successfully recovered more than S$170,000 lost in a technical support scam. The victim, a 70-year-old woman, was using her computer when she saw a pop-up alert prompting her to call a “Microsoft” hotline number due to a supposed hack. She called the number and spoke with a scammer posing as a Microsoft support agent.

Scams 74
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3 signs your payment provider is holding your business back

Finextra

The payment landscape is unpredictable, but technology allows businesses to constantly improve the