Sat.Feb 03, 2024 - Fri.Feb 09, 2024

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AI and Payments: Exploring Pitfalls and Potential Security Risks

PCI Security Standards

With the rapid rise in popularity of AI services like ChatGPT, Dall-E, and GitHub Copilot, many people are looking at ways they can leverage the new abilities of these systems to improve their existing businesses.

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How Open Banking May Affect The Financial Sector

The Payments Association

Open banking unlocks customer data, driving competition and innovation while reshaping the financial landscape for a more inclusive future. Open banking, a.

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Where will embedded payments flourish in 2024?

Payments Dive

There are three areas where embedded finance is a good fit, and they are characterized by high volume and frequent payments, writes one industry executive.

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Metaverse to place new demands on payment services - BIS

Finextra

The metaverse could place new demands on payment services that may be better met by central bank digital currencies and retail faster payment systems than by crypto, according to a Bank for International Settlements report.

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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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Spotlight On: PROSA, a New Principal Participating Organization

PCI Security Standards

Welcome PROSA, a new Principal Participating Organization (PPO) at the PCI Security Standards Council! In this special spotlight edition of our PCI Perspectives Blog, PROSA CISO Valther Galván Ponce de León introduces us to his company and how they are helping to shape the future of payment security.

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Here are the fintech startups that could go public in 2024

TechCrunch Fintech

Could 2024 be the year for fintech IPOs? Quite possibly, according to F-Prime Capital’s State of Fintech 2024 report. F-Prime — a VC firm with over $4.5 billion in assets under management that tracks the performance of emerging, publicly traded and privately held financial technology companies — naturally remains bullish on the fintech space, noting that: […] © 2024 TechCrunch.

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Natwest becomes first bank accepted into UK Open Banking DPS

Finextra

NatWest Bank has been confirmed as the first UK Bank to become a supplier on the Crown Commercial Service’s (CCS) new Dynamic Purchasing System (DPS) for Open Banking.

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Gen Z embraces digital wallets but they actually want more

Tearsheet

The adoption of digital wallets is expected to grow with new use cases this year. McKinsey predicts that more than two-thirds of Americans expect to have a digital wallet within two years, and many will likely hold multiple wallets. This indicates a shift away from physical debit card usage toward using debit cards through digital wallets. “Using digital wallets and mobile payment apps were once emerging trends but are now becoming common practice for both online and in-store purchases,” Christi

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Nearly Half of All Cross Border Payments Will Be Instant by 2028 Reveals Juniper Research

The Fintech Times

The adoption of digital payments is rapidly developing markets to the point that the value of B2B payments are set to grow by 40 per cent by 2028, from $89trillion in 2024 according to research from Juniper Research , the market research firm. The new market research suite by Juniper Research offers a comprehensive assessment of the B2B payments market.

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Card debt climbs to record $1.13 trillion

Payments Dive

Consumers’ credit card debt rose nearly 5% in the fourth quarter, compared to the third quarter, adding to delinquencies as well.

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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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Celebrating African-American Voices and Fintech Innovation on the Finovate Stage

Finovate

To kick off Finovate’s commemoration of Black/African-American History Month this year, we’re highlighting some of the Black and African-American fintech professionals who represented their companies and their fintech innovations at our Finovate conferences in 2023. Andre Llewellyn – Marketing Consultant/Advisory Board Member with AI Squared Along with company CTO Michelle Bonat, Andre Llewellyn helped demonstrated the new Generative AI-based features on AI Squared’s plat

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Wealth Management Trends Transforming the Industry in 2024

Fintech News

Emerging technologies are critical for wealth management firms as economies faced a dampened investment environment in 2023, with disappointing equity returns and sky-high interest rates. As a result, wealth preservation became the most crucial goal for high-net-worth individual (HNWI) investors last year. So, how will this shape the wealth management trends in Asia in 2024 Expect a renewed focus on emerging technologies, stable returns, and newer customer segments for wealth management firms.

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The Data is Clear: The Durbin-Marshall Credit Card Bill Will Harm Small Businesses

Electronic Payments Coalition

Since Congress introduced price caps and routing mandates on debit cards in 2011, research from independent and government sources has illuminated their disproportionate negative impact on small businesses. While corporate megastores like Walmart and Target reaped billions in new revenue, small enterprises were largely excluded from the profits-bonanza.

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Fiserv CEO details special bank charter pursuit

Payments Dive

The processing and acquiring company, which seeks a “very specific” special bank charter, doesn’t intend to compete with its financial institution partners, Fiserv CEO Frank Bisignano said Tuesday.

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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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Navigating Innovation: Fostering Collaboration Between Banks and Fintechs

The Fintech Times

Most of the fintech industry is made up of startups and SMEs, while most traditional banks have amassed a global reach, and are drastically bigger in practically every respect. Despite this, both parties stand to gain a lot when it comes to partnering with one another. To better understand the role collaboration plays in driving innovation within fintech and banking, we hear from Jackie Toole , vice president of financial services at NTT DATA Services , who offers her expertise on the topic.

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New York expands Digital Currency Group lawsuit to seek $3bn

Finextra

New York Attorney General Letitia James has filed an amended lawsuit against crypto firm Gemini and Digital Currency Group, alleging that nearly quarter of a million investors were defrauded out of more than $3 billion, rather than the $1 billion claimed in the initial suit.

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Paxos Now Supports Chainlink’s PayPal USD Price Feed to Bolster Stablecoin Adoption

Fintech News

Paxos, a regulated blockchain and digital asset solutions provider, now supports Chainlink’s PayPal USD (PYUSD) price feed on the Ethereum mainnet. This collaboration aims to streamline the adoption of PYUSD, a USD-backed stablecoin issued by Paxos under PayPal’s banner. PYUSD is characterised as an open, programmable stablecoin, backed by dollar deposits, US treasuries, and cash equivalents.

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Fiserv lands Uber, eBay as debit network clients

Payments Dive

The payment processing giant has signed more than a dozen large e-commerce clients following the Federal Reserve’s clarification of the debit routing rule.

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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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Cohesity Reveals over 9 in 10 UK Firms Have Paid Ransoms Despite Alleged “No Pay” Stances

The Fintech Times

Despite many organisations putting forward a defensive stance that they will never pay out a ransomware attack, research from Cohesity , the AI-powered data and security firm, has revealed that over 97 per cent of UK firms have paid a ransom in the last two years. The research is especially concerning given that many experts expect cyberattacks to increase in 2024.

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NextGen Nordics 2024: Agenda to cover AI, Buy Now Pay Later, data privacy and Request to Pay

Finextra

The Nordic region has been at the vanguard of innovation across payments for decades, but is that the case in 2024? NextGen Nordics 2024 - a leading conference led by Finextra Research held in Stockholm on 23 April 2024 - will procure an answer to this question from experts hailing from Denmark, Finland, Iceland, Norway and Sweden.

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Competitive Edge: Exploring the Advantages of Implementing Loan Recovery Software

Finezza

The lending business has become much more competitive over the last few years, with banks, Non-Banking Financial Companies (NBFCs), neo-banks, and even newer players, such as payment apps, vying to expand their customer base. In this landscape, lenders invest a significant amount of time in building robust revenue-optimising strategies. Typically, they tend to focus their […] The post Competitive Edge: Exploring the Advantages of Implementing Loan Recovery Software appeared first on Finezz

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Banks should step up scam response: fraud expert

Payments Dive

With regulators gearing up to take a stronger stance against digital payments fraud, banks must focus on how they handle scams, says one executive.

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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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Industry Reacts as UK Government Commits Over £100Million To AI Advancement

The Fintech Times

The UK government has set over £100million aside for researching and developing Artificial Intelligence (AI) technology, and to support regulation in the space. Just shy of £90million of funding will go towards launching nine new research hubs across the UK, which will help experts leverage AI technology across the likes of healthcare, chemistry, and mathematics.

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Privakey Unveils Single Sign-On Solution for Enterprises

Finovate

Authentication platform Privakey has launched its Single Sign-On (SSO) solution, Privakey SSO. The new offering enables enterprises to leverage passwordless authentication and authorization. Headquartered in Philadelphia, Pennsylvania, Privakey made its Finovate debut at FinovateFall 2017 in New York. Passwordless authentication solution provider Privakey launched its Single Sign-On (SSO) solution last week.

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The Era of the Asset-Light Business Model in Fintech

Fintech Review

The financial sector is witnessing a paradigm shift with the ascent of the asset-light business model, a change spearheaded by fintech companies worldwide. This model, characterized by minimal physical assets and a heavy reliance on digital technology, offers fintech firms the agility and flexibility necessary to navigate today’s rapidly evolving economic landscape.

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Apple CEO pushes back on European regulation

Payments Dive

The company’s customers may experience a drop in quality thanks to EU regulation slated to take effect next month, said Tim Cook, chief executive of the tech giant.

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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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iProov Outlines 672% Rise in Deepfake Media as Threat Actors Increase Productivity

The Fintech Times

Across 2022 and 2023, indiscriminate attack levels ranged from 50,000 to 100,000 times per month. At the same time, the number of groups exchanging information related to attacks against biometric and remote human identification grew significantly, biometric identity solution provider iProov has revealed its latest report. The buzz surrounding Artificial Intelligence ( AI ) continued throughout 2023, right the way through to now – thanks to the seemingly limitless potential of the emerging

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PS23/4 Countdown: Banking’s 5-Point Checklist for Smooth Sailing

The Payments Association

PS23/4 policy urges banks to revamp strategies against APP scams, emphasizing prevention, collaboration, and innovative detection Read more

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Six More International E-wallets Accepted Through Alipay+

Fintech News

Alipay+ has expanded its digital payment offerings in Singapore by integrating six additional international e-wallets, increasing the total to twelve. This expansion allows tourists and residents alike to use e-wallets such as Hipay from Mongolia, MPay from Macao SAR, MyPB by Public Bank from Malaysia, Toss Pay and Naver Pay from South Korea, and Tinaba from Italy, alongside existing options including AlipayHK, GCash, Kakao Pay, Touch n’ Go eWallet, TrueMoney, and others.

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SOX Compliance Made Simple: Veracyte’s Success Story with FloQast

FloQast

In the fast-paced world of genomic diagnostics, precision and accuracy are paramount. For publicly-held Veracyte , based in San Francisco, maintaining compliance with SEC and SOX reporting standards while managing audit controls posed a significant challenge. Enter FloQast Close and Compliance Management , a solution that revolutionized Veracyte’s approach to compliance.

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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.