August, 2024

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Sneak Peek: 2024 Europe Community Meeting Speakers

PCI Security Standards

The excitement is building as we get closer to this year’s Europe Community Meeting ! To add to the anticipation, we’re giving you a sneak peek of some of the amazing sessions that will be featured in Barcelona, 8-10 October. Don't pass up the chance to collaborate and gain knowledge into the latest developments in payment security. The PCI SSC Community Meetings are open to all in the payments industry.

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JPMorgan fires up biometric payments processing

Payments Dive

The biggest U.S. bank is piloting payments processing for biometric transactions, with plans to use it at the hamburger chain Whataburger, which lets customers pay with a face scan.

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Not another ISO 20022 piece?

The Payments Association

The move to ISO 20022 brings benefits like enriched data and improved fraud prevention, requiring a strategic approach and decisions between building in-house solutions or partnering with vendors.

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Nacha Welcomes Stronghold as a Preferred Partner

NACHA

RESTON, Virginia, Aug. 8, 2024 – Today, Nacha announced Stronghold as a Preferred Partner for ACH Experience and ISO 20022. Stronghold joins a select group of innovators that Nacha recognizes for offering products and services that align with Nacha's core strategies to advance the ACH Network.

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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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Southeast Asia’s Insurtech Sees Resurgence with Over US$2.4 Billion in Deals

Fintech News

In 2023, the insurtech sector in Southeast Asia saw a remarkable resurgence, marking a significant rebound not witnessed since 2020. According to a new report by Ernst and Young (EY), Southeast Asia’s insurtech deals reached a total value of US$2.4 billion from 27 transactions, a significant increase from the US$538 million raised across 39 deals in 2022.

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Workbench: A new way to debug, monitor, and grow your Stripe integration

Stripe

We’ve been testing a suite of new developer tools over the last year with thousands of users, including Slack and Notion. Today, we’re announcing that the first is available to all new users by default: Stripe Workbench, our new home for developers within the Dashboard that helps you debug, monitor, and grow your Stripe integration.

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Credit cards users struggle with inflation

Payments Dive

JD Power’s annual credit card survey found that more than half of U.S. credit card users don’t pay their balances in full every month, and less than half are considered financially healthy.

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Project Ensemble: Hong Kong Embraces Asset Tokenisation With New Sandbox

The Fintech Times

The concept of tokenisation has several meanings and promises to drive a seismic shift in global finance in a number of ways. Looking to harness this potential, the Hong Kong Monetary Authority (HKMA) launched ‘Project Ensemble’ in March earlier this year, a wholesale central bank digital currency (wCBDC) project, to support the development of the tokenisation market in the region.

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Apple to open up NFC payments access to third parties

Finextra

Apple is opening up the NFC chip technology that enables iPhone users to make contactless payments to third-party providers in a host of countries - including the US and UK - but will charge associated fees.

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Thailand’s 10,000-Baht Digital Wallet Handout to Begin in September

Fintech News

Thailand’s former Prime Minister Thaksin Shinawatra announced that the 10,000-baht handout under the digital wallet scheme will commence in September, with a focus on vulnerable groups in society, as reported by The Nation. Thaksin, speaking at a Nation Group event, highlighted that 13.5 million people in vulnerable categories, along with one million disabled citizens, would be the first recipients of the 10,000-baht handout.

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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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Gen AI reduces agent response time by 70% at Discover

Bank Automation

Discover Financial Services is tapping generative AI to speed up call center agent response and strengthen client experience. Using Google Cloud’s AI platform, Vertex AI, Discover has reduced response times for call center agents by 70%, Szabolcs Paldy, senior vice president of enterprise operations at Discover, told Bank Automation News.

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CloudPay, a payroll services provider, lands $120M in new funding

TechCrunch Fintech

In 1996, two companies, Patersons HR and Payroll Solutions, formed a venture called CloudPay to provide payroll and payments services to enterprise clients. CloudPay grew quietly over the next several decades, adding workflow automation features to maintain pace with upstart rivals. It’s still growing, CFO Andy Thomson assures TechCrunch. Thomson claims that CloudPay is handling […] © 2024 TechCrunch.

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How embedded payments are changing the way we pay

Payments Dive

As payments technology advances, more companies are embedding the payments process in websites and apps. Here’s a primer on how this trend is advancing and changing the payments arena.

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Collaboration Over Competition: The Future of Real Estate and Proptech Partnerships

The Fintech Times

The relationship between established real estate firms and proptech startups is shifting from competition to collaboration. What once appeared as a clash between tradition and innovation is now evolving into a partnership where each side leverages the strengths of the other. Established firms bring deep industry experience and extensive networks, while startups introduce cutting-edge technology and fresh perspectives.

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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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Swiss banks turn on instant payments system

Finextra

Consumers in Switzerland can now send and receive payments in seconds following the market launch of instant payments across the banking industry.

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Eight Startups Join XDC Network Accelerator Programme Powered by Tenity

Fintech News

XDC Network has selected eight startups to join its first-ever accelerator programme, powered by Tenity , an innovation ecosystem specialising in early-stage fintech startups. The XDC Accelerator Programme is a significant step for the emerging blockchain platform, which is known for its focus on real-world asset tokenisation and trade finance. The selected startups will gain access to business and technical mentorship, helping them refine their business value propositions and develop a working

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Podcast: JPM connects to French payments network Cartes Bancaires

Bank Automation

J.P. Morgan is joining French payments network Cartes Bancaires, Mike Lozanoff, managing director and global head of merchant services at J.P. Morgan, tells Bank Automation News on this episode of “The Buzz” podcast. The bank is tapping cloud-based Renovite to build the connection to the network, Lozanoff says.

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Fintech Rundown: A Rapid Review of Weekly News

Finovate

As summer draws to a close, there may be a big acquisition on the horizon in the fraud and financial crime prevention space. Be sure to check in with Finovate’s Fintech Rundown all week long for the latest in fintech news. Fraud and financial crime prevention Is Visa looking to acquire fraud fighting platform Featurespace ? Financial wellness Canadian fintech Koho launches Rent Reporting to help renters improve their credit.

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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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Surcharging doesn’t have to be a bad word

Payments Dive

“The time has come to rethink surcharging not as a necessary evil but as a strategic advantage that can benefit both businesses and customers,” writes a Billtrust executive.

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Taishin Bank and OneDegree Global Team Up for AI Compliance and Cybersecurity Initiative

The Fintech Times

Taishin Bank has partnered with OneDegree Global , a cybersecurity and risk management solutions company, to test and validate its artificial intelligence system, positioning itself as the first in Taiwan’s financial sector to establish a responsible AI framework. This initiative is timely as global attention on AI compliance intensifies, with new regulations in Asia as well as Europe highlighting the need for secure and ethical practices in the financial industry.

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Australia moves one step closer to roll out of Confirmation of Payee

Finextra

Australian Payments Plus (AP+) and the Australian Banking Association (ABA) have completed the design specs for a new national Confirmation of Payee service, providing another layer of protection against scammers.

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Championing Swift Connectivity for Private Banks and Asset Managers in APAC

Fintech News

In the dynamic financial landscape of the Asia-Pacific (APAC) region, private banks, asset managers, fund managers, and other capital market participants are increasingly recognising the pivotal role of Swift connectivity. This connectivity is not just a technical necessity but a strategic imperative for seamless settlement, reconciliation and post-trade operations, enhanced transparency, and operational efficiency.

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Secrets of a Successful Sale: Optimizing Your Checkout Process

Speaker: David Nisbet, Everett Zufelt, and Michaela Weber

Once upon a time, in the vast realm of online commerce, there lived a humble checkout button overlooked by many. Yet, within its humble click lay the power to transform a mere visitor into a loyal customer. 🧐 💡 Getting checkout right can mark the difference between a successful sale and an abandoned cart, yet many businesses fail to make payments a part of their commerce strategy even when it has a direct impact on revenue.

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Truist lands Wells Fargo tech leader as CIO

Bank Automation

Truist is tapping Wells Fargo CIO of Consumer Technology Steve Hagerman to fill its chief information officer role. Hagerman was the “right person at the right time for our enterprise technology team,” a Truist spokesperson told Bank Automation News, noting that selecting a new CIO was a “thorough process.

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Fingerprint Cards AB Appoints David Eastaugh as Chief Strategy and Technology Officer

Fintech Finance

Fingerprint Cards AB (Fingerprints) today announced the appointment of David Eastaugh as the company’s Chief Strategy and Technology Officer. He will assume his position on August 19, 2024. David is a technology visionary in the fields of identity, data, and combating financial crime and fraud, with a diverse background that includes experience in startups, scale-ups, consulting, and corporations.

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Toast aims to move beyond restaurants

Payments Dive

The payments service provider is known for working with restaurants, but seeks to make headway with convenience stores, grocery stores and bottle shops.

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Sarah Buchner started as a carpenter when she was 12 — now her AI construction startup has raised $20 million

TechCrunch Fintech

Construction companies deal with a lot of documents — so many that it can be difficult to process and manage them all. According to one recent survey, a third of construction professionals found accessing documents to be a challenge in completing a project, while a fourth said that inaccurate project paperwork has contributed to a […] © 2024 TechCrunch.

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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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New US-Mexico payments pathway will tap rural community banks

Finextra

A new cross-border payments infrastructure will enable remittances between the US and Mexico via 140 community banks in rural areas.

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UOB to Move Part of its Operations to Malaysia as Part of Long-Term Profitability Plan

Fintech News

UOB is set to relocate certain back and middle-office operations to Malaysia, primarily in Kuala Lumpur, according to The Business Times. Lee Wai Fai This strategic move aims to maintain the bank’s cost-to-income ratio at 40% by 2026, according to Group Chief Financial Officer Lee Wai Fai. This relocation, coupled with anticipated growth across ASEAN and a greater focus on non-interest income, is expected to help UOB sustain its return on equity (ROE) at approximately 14% by 2026.

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Monzo moves clients to backup after outage

Bank Automation

British challenger bank Monzo reported an outage today that halted some card payments and outbound bank transfers. In response to the outage, which the bank attributed to a “technical issue,” Monzo moved to its backup system to get operations back up and running, Monzo said on social media platform X today. Monzo can process 99.

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Mongolia’s Fintech Future: Building a Digital Economy in a Land of Contrasts

The Fintech Times

Mongolia, a country of striking contrasts, presents a unique fintech landscape. Despite being one of the world’s largest nations by land area, it is also one of the least densely populated, with vast distances separating its people and economic hubs. This distinctive geography shapes the challenges and opportunities within Mongolia’s evolving fintech sector.

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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.