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This Friday, March 28, 2025, marks the end of an era for DBS Bank as Piyush Gupta steps down after an extraordinary 16-year tenure as Chief Executive Officer. During his tenure, he turned DBS from a traditional lender into a globally recognised powerhouse of digital banking. His leadership has been nothing short of transformative.
In simple, layman’s terms, embedded finance is when financial services – like payments, loans, or insurance – are integrated directly into non-financial platforms. The region has become a hotbed for embedded finance, thanks to its mobile-first economy and digitally savvy population. What’s Next?
And yet, accepting non-cash forms of payments is more or less required to operate a modern business, at least in the U.S. They include: the merchant, cardholder, card associations, acquiring bank, issuing bank, and payment processor. Acquiring Bank: The business’ (i.e., merchant’s) bank.
As expected, innovations and announcements were rife throughout, here’s a roundup of all the news coming out of the global event. For online shopping, Visa passkeys replace passwords or one-time codes. Data Tokens – A new way for people to control their data and enhance their shopping experiences, powered by AI. .
Growth is driven by financial inclusion, fintech innovation, and regulatory reforms. However, mobile payments, digital wallets, and real-time transactions are broadening financial access. How does the rise of real-time payments impact traditional banking in Latin America? trillion by 2027. Key Takeaways – Report Summary 2.
These methods leverage digital wallets, mobile payments, bank transfers, and other innovative technologies to deliver more flexible options for consumers. Region-Specific Preferences : In Europe, 36% of online purchases are made through bank transfers, while Asia sees a dominance of digital wallets at 70% of transactions.
Digital payment preferences are surging, according to the 2024 ACI Speedpay Pulse Report, published by ACI Worldwide (NASDAQ: ACIW), an original innovator in global payments technology. ” Key Report Insights 77% of Americans now prefer to pay their bills digitally, with 26% displaying a preference for mobile over website. .”
Vietnam’s digital finance landscape is undergoing a notable shift as new players emerge, established ones fade, and traditional banks rise to prominence, a new report by Decision Lab shows. However, by Q4 2023, Moca had slipped out of the top rankings, replaced by mobile apps from traditional banks.
Today, fintech and digital innovations are becoming key drivers in their continued growth, each nation adopting its own approach to integrate these technologies into their economic sectors. per cent Central Bank of Armenia (CBA) Armenia’s growth has been driven in part by its young, tech-savvy population.
Are digital first banks in Asia poised to lead a disruptive charge against well-entrenched, established commercial banks? In the traditional banking sphere globally, but especially true in Asia, there is a considerable proportion of unbanked and underbanked populations who lack complete or any access to banking services.
Confronted by shifting factors such as tech advancements, generative AI, high interest rates, increased institutional oversight, and evolving customer expectations — the best banks must adapt their business and operating models in 2024, including in Asia. CHINA #1 China Merchants Bank China Merchants Bank Co.,
As traditional banking processes are replaced by more integrated financial solutions, companies across industries are embedding payment processing, lending, insurance, and investment services directly into their platforms. global banks) is now open to independent innovators who can embed payments into the fabric of everyday interactions.
Today we unveiled new card features and digital innovations that will bring consumers into a more customised, convenient and secure future.” This year, new ways to ‘tap’ on a mobile device will become an integral part of the Visa experience. Online payment fraud is seven times higher than in-person payments.
The coronavirus pandemic — which has forced all of us online — is exposing just who in financial services has embraced digitization, and who is truly digital native. We now must bank entirely online, by necessity. And many of us must transact entirely online, by necessity, to get the goods and services we need on a daily basis.
The list, produced by CNBC in collaboration with market research firm Statista, highlights the world’s top 250 fintech companies across eight market categories: payments, wealthtech, business process solutions, neobanking, alternative finance, financial planning, digital assets and banking solutions. billion (US$4.4
That’s the big message being sent throughout the payments world as PSD2 and other FinTech efforts spark innovation and give consumers, companies and other organizations more methods to pay — methods that better match the preferences of those participants, payments that feature more speed and less friction than was often the case before.
Visa has signed an agreement with Abu Dhabi Islamic Bank (ADIB) to collaborate on an enhanced threat intelligence solution and integrate its advanced cybersecurity capabilities with digital payments. Additional partnerships MiFinity, a global payment services provider, has integrated Apple Pay into its mobile app.
Dwollas clients are now able to leverage Plaids instant account verification and real-time balance check alongside comprehensive pay-by-bank payments through a single vendor and a single API. Fintech myPOS unveils a new strategic partnership with Satispay , an Italian independent mobile payment firm.
Quality Engineering is transforming digital banking, enabling seamless innovation, operational continuity, and future-proofing in a rapidly evolving landscape. The global banking industry is currently undergoing widespread change from a regulatory and technology perspective. These large-scale projects are inherently risky.
EAZY Financial Services ‘EazyPay’, a Bahraini financial institution specialising in point-of-sale (POS) and online payment gateway acquiring services, has teamed up with Tarabut , the MENA region’s regulated open banking platform. Conister Bank Limited has launched an online deposit system for its UK retail customers.
Netherlands-based digital banking platform Plumery secured $3.3 Founded in 2022, Plumery offers a digital banking platform that enables businesses to rapidly customize and deploy their banking operations. “Our vision was to create a space that not only inspires innovation but also brings people together,” Roos said.
He brings over 30 years experience in financial services with senior roles across global banking, private equity and accounting. He also joins the board of Quantum as director of fintech and banking, helping with its plan to list on the London Stock Exchange in 2026. Radford previously held the CEO role at Revolut UK from 2020 to 2023.
It’s a tale of a cultural shift, governments and innovators working in tandem, and millions leapfrogging traditional banking to embrace a mobile-first approach to finance. It results from a unique convergence of factors that have created the perfect storm for fintech innovation.
This year’s awards are also supported by 12 fintech community members, including Ripple, NETS, ADVANCE.AI, and HSBC, as part of the ‘Fintech Gives Back’ initiative, aimed at encouraging innovation and supporting emerging talent. Ripple, NETS, Syfe, and YouTrip returned as sponsors this year. ThitsaWorks Pte.
UPI is a real-time payment system developed by the National Payments Corporation of India (NPCI) that enables instant money transfers between two bank accounts through a mobile platform. Finally, the report emphasizes the importance of regulatory frameworks in fostering payment innovation.
As the financial services space focuses on digitizing offerings for their small business customers, much of these efforts are targeting onlinebanking portals accessed via desktop. One of the biggest impacts of mobile-based services will be the shift from weekly or monthly processes to operating in real time. .
Uganda is rapidly emerging as a key player in the fintech and financial services sector within Africa, buoyed by innovations in mobile money and digital banking. These platforms facilitate a wide array of transactions, including utility payments, bank-to-consumer transfers, e-commerce transactions, and retail payments.
Mobile and onlinebanking providers have been upping their fraud protection measures over the last decade, making it more difficult for bad actors to rely on some of the schemes that previously worked in such channels. Banks need to think of their fraud strategies as items that are constantly changing, Venturo explained.
This April, The Fintech Times is focusing on all things embedded finance, the integration of financial services into non-financial products and services. This trend fosters greater collaboration and innovation. Neobanks are known for their strong focus on improving the overall customer experience.
What happens when an ongoing revolution in payment innovation meets a regulatory regime determined to ensure secure and safe transactions for individual consumers, business entities, and even governments? When it comes to sending and receiving money, trust is non-negotiable. This is the payments landscape in the UK and EU in 2025.
At the same time, bank branch closures appear to be accelerating, with small towns across the country losing a combined 14 percent of their banks between 2012 and 2017. Many small businesses, too, are struggling to access the bank products they need to survive and thrive, like bank loans and deposit accounts.
This April, The Fintech Times is focusing on all things embedded finance, the integration of financial services into non-financial products and services. Whether it be retailers, ride-hailing apps, super-apps, or other non-bank service providers, embedded finance appears to be making its way into every sub-sector.
In this 2024 report, we’ll explore how payment methods have evolved in the Canadian market, focusing particularly on the shift towards digital, contactless payments , and mobile along with other 2024 trends. Non-employer businesses are simply single businesses with no employees. of employer businesses – that’s around 1.19
Questions like, “What is a bank?”. It’s a fair question today, particularly as we observe the blurring of the lines between traditional banks, Big Tech and FinTechs — and as we contemplate the impact that the blurring of the digital and physical worlds has on consumers’ expectations and customer service paradigms.
Banks are not just competing for customer engagement and retention — they are also vying for funding and resources as they overhaul their infrastructure and banking tools. The latest Digital Banking Tracker examines how legacy institutions stay competitive with challenger banks. Competition Can Lead to Innovation.
Digital banking and payments firm i2c is partnering with next-generation commerce firm Sightline Payments to deliver cashless, mobile and omnichannel programs to over 45 gaming resorts, state lotteries, digital gaming and sports betting sites across eight states, i2c announced on Wednesday, Feb. There are more than 2.5
Consumers in the Philippines are demanding so much from online technologies, that research from Digido , the Filipino online lender, has found the digital lending market could reach $1billion in the second half of 2025. Digido revealed that in terms of market structure, non-bank digital lenders are expected to make up 55.2
It’s not fair, said FI.SPAN CEO and Co-Founder Lisa Shields, that Bill.com and AvidXchange get to have all the business payments fun — and there’s no reason why banks shouldn’t get to participate. Banks don’t ask for APIs, said Shields. It becomes a technological project for both the bank and for the customer.
The increasing affordability of leisure time, the seismic surge in the digital economy , the proliferation of high-speed internet, advancements in mobile technology, and the shift towards remote work will also play significant roles. Asia is the epicentre of gaming According to the latest available data , Asia is home to approximately 1.48
OpenWay , a provider of digital payments technology to banks, processors, national payment switches, and mobile wallet operators, found that clients are recognising the benefits of AI. To overcome those barriers, Gen AI needs a payment processing platform with powerful data management and a 24/7 online front- and back-office.
Traditionally, consumers stuck with familiar banks, but there’s now a growing trend of current account switching. The service was introduced as part of a government initiative to increase competition in the banking sector, aiming to reduce the inertia that had kept 75% of account holders with the same bank for years.
Marqeta allows businesses to offer payment card products to customers without having to deal directly with a traditional bank. It handles the back-end payment technology while working with banks that process the payment transactions. . G lobal online sales are expected to reach $4.8T The company is aiming for a $12B valuation.
Over the past decade, Singapore has emerged as a global powerhouse in fintech innovation, not just in Southeast Asia but across the broader Asian region. Embedded finance refers to the integration of financial services directly into non-financial platforms, eliminating traditional barriers to transactions and enhancing user convenience.
trillion in total assets, JPMorgan Chase is the largest bank in the US. Its retail bank, Chase, spans 61 million American households. Led by Chairman and CEO Jamie Dimon, the bank is undergoing a transformation, moving away from offline legacy systems and into the digital age. Live briefing: Consumer Banks in The Digital Age.
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